secwatch.observer — SEC 8-K summary
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Issuer:     BIO KEY INTERNATIONAL INC (BKYI)
CIK:        0001019034
Form:       8-K
Filed at:   2023-03-31T23:59:59+00:00
Accession:  0001437749-23-008705
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019034/000143774923008705/0001437749-23-008705-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019034/000143774923008705/bkyi20230330_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-008705

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