---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-010505"
form_type: "8-K"
ticker: "BKYI"
cik: "0001019034"
company_name: "BIO KEY INTERNATIONAL INC"
filed_at: "2024-04-02T23:59:59+00:00"
generated_at: "2026-06-04T03:15:48.093611+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-24-010505
- form_type: 8-K
- ticker: BKYI
- cik: 0001019034
- company_name: BIO KEY INTERNATIONAL INC
- filed_at: 2024-04-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1019034/000143774924010505/0001437749-24-010505-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019034/000143774924010505/bkyi20240401_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-010505
- JSON: https://secwatch.observer/filing/0001437749-24-010505.json
- Plain text: https://secwatch.observer/filing/0001437749-24-010505.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1019034/000143774924010505/0001437749-24-010505-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1019034/000143774924010505/0001437749-24-010505-index.htm

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