BIO-key reports preliminary 2023 revenue up 29% to $9.1M, net loss $(6.2M) after $2.8M inventory reserve

BIO KEY INTERNATIONAL INC

2023 revenue $9.1M (+29% YoY); net loss $(6.2M) vs $(12.2M) in 2022; EPS $(11.45).
Q4'23 net loss $(4.1M) or $(5.54) per share, improved from $(6.7M) a year ago.
Took $2.8M non-cash reserve on slow-moving hardware inventory for Africa projects.
SG&A trimmed 22% to $7.3M; R&D down 26% to $2.4M.
Received $1.5M cash in Q1'24 for 2-year biometric license extension with existing customer.

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 fourth quarter ended December 31, 2023 results: net income $(4.1M), EPS $(5.54) per share.

Period: fourth quarter ended December 31, 2023
Net income: $(4.1M)
EPS: $(5.54) per share
Result: preliminary results

Exact text from the filing

Likewise, in Q4’23 BIO-key reduced its net loss more than 40% to $(4.1M), or $(5.54) per share, from $(6.7M), or $(14.58) per share in 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BIO KEY INTERNATIONAL INC reported year ended December 31, 2023 results: revenue $9.1M, net income $(6.2M), EPS $(11.45) per share.

Period: year ended December 31, 2023
Revenue: $9.1M
Net income: $(6.2M)
EPS: $(11.45) per share
Result: preliminary results

Exact text from the filing

Exhibit 99.1 Identity and Access Management Software Provider BIO-key Preliminary 2023 Results: Operating Loss Trimmed Approx. $3.5M on Approx. 29% Revenue Growth to $9.1M; Investor Call Tomorrow at 10am ET Holmdel, NJ – April 1, 2024 – BIO-key® International, Inc. (Nasdaq: BKYI), an innovative provider of workforce and customer Identity and

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Source: SEC EDGAR

accession 0001437749-24-010505

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