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BIO-key International (BKYI) investor relations material
BIO-key International Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue rose 49% year-over-year, driven by a 581% surge in hardware sales, EMEA growth, and expanding customer base.
Net loss improved to $1.17M ($0.20/share), down from $1.67M ($1/share) in Q2 2024, reflecting higher gross profit and reduced SG&A expenses.
Major contracts secured in Africa and the Middle East, including a $600K follow-on order from a defense ministry and a national bank deployment in Mozambique.
Launched the Cyber Defense Initiative to capitalize on increased global defense spending and cyber resilience priorities.
Cash and cash equivalents rose to $2.3M at June 30, 2025, up from $0.4M at year-end 2024, supported by warrant exercises and financing.
Financial highlights
Q2 2025 revenue reached $1.7M, up from $1.14M in Q2 2024; hardware revenue increased by $458K, license fees up 4%, and service revenue up 11%.
Gross profit increased 40% to $1.23M, though gross margin declined to 73% from 77% due to higher hardware mix.
Operating expenses fell 8.5% to $2.32M, with SG&A down 13.5% and R&D up 7.6% for new product development.
Net loss per share improved to ($0.20) in Q2 2025 from ($1.00) in Q2 2024.
Weighted average shares outstanding increased to 5.82M in Q2 2025 from 1.66M in Q2 2024.
Outlook and guidance
Management expects continued revenue growth from defense and enterprise contracts, with multiyear opportunities in EMEA and meaningful contract activity in H1 2026.
Anticipates strong gross margins (70–80%) and ongoing cost control to support path to profitability.
No formal guidance provided, but Q3 and Q4 expected to benefit from recently closed contracts; additional financing may be required if revenue and inventory liquidation fall short.
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