secwatch.observer — SEC 8-K summary
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Issuer:     BIO KEY INTERNATIONAL INC (BKYI)
CIK:        0001019034
Form:       8-K
Filed at:   2024-04-02T23:59:59+00:00
Accession:  0001437749-24-010505
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019034/000143774924010505/0001437749-24-010505-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019034/000143774924010505/bkyi20240401_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-010505

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer