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BIO-key International Inc (BKYI)
NASDAQ:BKYI
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Earnings Data
Report Date
Apr 08, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.35Last Year’s EPS
-$0.32Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 14, 2024
|% Change Since: -14.71%
|Next Earnings Date:Apr 08, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive outlook with significant revenue growth, strategic customer expansions, and improved financial metrics. However, there were challenges related to declining service revenues and ongoing operating losses.Company Guidance
In the third quarter of 2024, BIO-key International reported a revenue increase of 18% to $2.1 million, up from $1.8 million in the same quarter of the previous year and $1.1 million in the second quarter of 2024. This growth was primarily driven by a 52% rise in high-margin license revenue, amounting to $1.4 million. Additionally, BIO-key secured several large orders post-quarter, including from a foreign defense ministry and a longstanding financial services customer, which contributed to the robust quarter and are expected to impact future quarters positively. The company is focusing on growing its high-margin annual recurring revenues, currently approximately $6 million, and has expressed optimism about continuing this trend. Operating expenses were reduced by $46,000 compared to the previous year, and the net loss improved to $0.7 million, compared to a $1.8 million loss in Q3 2023. The company emphasized its commitment to achieving profitability and positive cash flow, supported by strategic partnerships and a strong balance sheet, including a cash position of $1.8 million as of September 30, 2024.Record Revenue Growth
BIO-key reported a revenue increase of 18% compared to Q3 last year, reaching $2.1 million. High-margin license revenue rose 52% to $1.4 million in Q3 '24.
Significant Customer Expansion
Closed a large order from a foreign banking customer for biometric ID solutions, with a portion reflected in Q4 results and the balance in 2025. The customer plans to host the solution on AWS.
Improved Financials
Net loss improved to $0.7 million in Q3 '24 from a loss of $1.8 million in Q3 '23. Gross margin comparisons improved significantly with a focus on higher-margin license sales.
Strategic Positioning and Partnerships
BIO-key's PortalGuard IDaaS platform is now available on AWS marketplace, expanding visibility and reach into new customer prospects.
Strong Order Pipeline
Received multiple large orders post-Q3, including a $500,000 order from a defense ministry and a significant order from a financial services customer.
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BKYI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BKYI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $1.02 | $0.94 | -7.84% |
| Aug 14, 2024 | $1.40 | $1.25 | -10.71% |
| Jun 17, 2024 | $1.86 | $1.50 | -19.35% |
| Apr 02, 2024 | $2.00 | $1.92 | -4.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does BIO-key International Inc (BKYI) report earnings?
BIO-key International Inc (BKYI) is schdueled to report earning on Apr 08, 2025, TBA Not Confirmed.
What is BIO-key International Inc (BKYI) earnings time?
BIO-key International Inc (BKYI) earnings time is at Apr 08, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BKYI EPS forecast?
BKYI EPS forecast for the fiscal quarter 2024 (Q4) is -$0.35.
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