secwatch.observer — SEC 8-K summary
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Issuer:     BIO KEY INTERNATIONAL INC (BKYI)
CIK:        0001019034
Form:       8-K
Filed at:   2024-08-15T23:59:59+00:00
Accession:  0001437749-24-026930
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BIO-key Q2 2024 revenue down 42% YoY to $1.1M; net loss narrows to $1.7M
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- Q2 revenue $1.1M vs $1.9M YoY; delayed ~$450k software license fees and lower project services.
- Net loss improved to $1.7M ($1.00/share) from $2.6M ($4.71/share) in Q2 2023, helped by $1M prior-year hardware reserve.
- Gross margin surged to 77.0% from 16.7% on absence of hardware reserve and higher services margins.
- Cash used in operations in H1 2024 fell 48% to $1.1M vs $2.1M in H1 2023.
- Recent wins: Williamsburg VA, LA LGBT Center, University of Iowa Hospital; launched Passkey:YOU product.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019034/000143774924026930/0001437749-24-026930-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019034/000143774924026930/bkyi20240814_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-026930

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