BIO-key Reports Q3'24 Revenue Rose 18% to $2.1M, Reduced Q3'24 Net Loss, and Improved Cash Position; Hosts Investor Call Tomorrow, Fri. Nov. 15th, 10am ET [Yahoo! Finance]
BIO-key International, Inc. (BKYI)
NASDAQ:AMEX Investor Relations:
bio-key.com/investors
Company Research
Source: Yahoo! Finance
featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication, announced results for its third quarter ended September 30, 2024 (Q3'24). BIO-key's 2023 Q3 and nine month results were restated and filed with the Company's 2023 Form 10-K and are reflected in this release. BIO-key will host an investor call tomorrow, Friday, November 15th at 10:00am ET (details below). Financial Highlights Q3'24 revenues rose 18% to $2.1M from $1.8M in Q3'23, principally due to a $0.5M increase in license revenue related to expanded software deployments by long-term customers. Gross profit improved to $1.7M (78.3% gross margin) in Q3'24 vs. $0.3M (18.7% gross margin) in Q3'23, due to an increase in high-margin license revenue, lower costs to support deployments, and a $1M hardware reserve taken in the prior-year period. BIO-key trimmed Q3'24 operating expenses by $46,000 versus Q3'23, reflecting proactive reductions in administration, sales personnel costs and mar
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News
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BKYI
Sec Filings
- 12/9/24 - Form 3
- 12/3/24 - Form 8-K
- 12/3/24 - Form 8-K
- BKYI's page on the SEC website