BIO-key Q3 revenues up 6% to $1.4M, net loss widens to $2.4M; FY22 guidance cut to $7-9M

BIO KEY INTERNATIONAL INC

Q3 revenue $1.4M (+6% YoY); YTD revenue $5.3M (+26%) on higher software and service fees.
Net loss $2.4M ($0.29/share) vs loss of $1.0M ($0.13) in Q3'21; SG&A up $1.1M.
Full-year 2022 revenue guidance lowered to $7M-$9M (37%-76% growth) citing slower sales and Africa delays.
Gross margin fell to 71% from 77% due to third-party software costs from Swivel Secure acquisition.
Cash $2.8M; current assets $9.9M; stockholders' equity $11.2M ($1.32/share) at Sept 30.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BIO KEY INTERNATIONAL INC reported third quarter ended September 30, 2022 results: revenue $1.4M, net income $2.4M, EPS $0.29 per share. Guidance lowered.

Period: third quarter ended September 30, 2022
Revenue: $1.4M
Net income: $2.4M
EPS: $0.29 per share
Guidance: lowered
Result: reported results

Exact text from the filing

--- EX-99.1 (EXHIBIT 99.1) --- EX-99.1 2 ex_447392.htm EXHIBIT 99.1 ex_447392.htm Exhibit 99.1 Cyber-Security Provider BIO-key Reports Q3 and Year-to-Date Revenues Rose to $1.4M and $5.3M, Respectively, on Growing Software and Services Revenue; Investor Call Tomorrow at 10am ET WALL, NJ – November 14, 2022 - BIO-key ® International, Inc. (Nasdaq: BKYI),

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Source: SEC EDGAR

accession 0001437749-22-027413

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