---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-008705"
form_type: "8-K"
ticker: "BKYI"
cik: "0001019034"
company_name: "BIO KEY INTERNATIONAL INC"
filed_at: "2023-03-31T23:59:59+00:00"
generated_at: "2026-06-17T07:32:00.691700+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BIO-key FY2022 revenue up 37% to $7.0M; net loss widens to $10.2M; Q1 2023 guidance strong

## Summary
- FY2022 revenue $7.0M (+37% YoY); Q4 revenue $1.76M (+88% YoY), driven by Swivel Secure acquisition.
- Net loss FY2022 $10.2M ($1.26 per share) vs $5.1M ($0.65 per share) in FY2021; included $1.8M goodwill impairment.
- Gross margin improved to 70.9% from 67.3% due to higher software and services revenue mix.
- Expects Q1 2023 revenue to significantly exceed strongest 2022 quarter; annual recurring revenue ~$7M.
- Operating expenses rose to $14.7M (vs $8.4M); cost reduction initiatives underway to improve profitability.

## SEC filing metadata
- accession: 0001437749-23-008705
- form_type: 8-K
- ticker: BKYI
- cik: 0001019034
- company_name: BIO KEY INTERNATIONAL INC
- filed_at: 2023-03-31T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1019034/000143774923008705/0001437749-23-008705-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019034/000143774923008705/bkyi20230330_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-008705
- JSON: https://secwatch.observer/filing/0001437749-23-008705.json
- Plain text: https://secwatch.observer/filing/0001437749-23-008705.txt

## Key facts
- Earnings Releases
  BIO KEY INTERNATIONAL INC reported the year ended December 31, 2022 results: revenue $7.0M. Guidance initiated.
  - Period: the year ended December 31, 2022
  - Revenue: $7.0M
  - Guidance: initiated
  - Result: reported results
  source text: FY’22 revenue increased 37% to $7.0M from $5.1M in FY’21
  evidence_url: https://www.sec.gov/Archives/edgar/data/1019034/000143774923008705/0001437749-23-008705-index.htm
- Earnings Releases
  BIO KEY INTERNATIONAL INC reported the fourth quarter ended December 31, 2022 results: revenue $1.76M. Guidance initiated.
  - Period: the fourth quarter ended December 31, 2022
  - Revenue: $1.76M
  - Guidance: initiated
  - Result: reported results
  source text: Q4’22 revenue increased 88% to $1.76M from $0.93M in Q4’21
  evidence_url: https://www.sec.gov/Archives/edgar/data/1019034/000143774923008705/0001437749-23-008705-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.