BK Technologies Q1 revenue up 184% to $18.7M; net loss narrows to $1.3M

BK Technologies Corp

Revenue $18.7M vs $6.6M YoY (+184%); driven by BKR 5000 shipments and strong demand.
Gross margin improved to 26% from 22% YoY; on track for full-year 35% target.
Order backlog $22.9M at March 31, 2023; shipped 10,000 radios in Q1.
Net loss ($1.3M) or ($0.07) per share vs ($3.9M) or ($0.23) per share YoY improvement.
Received first purchase order for InteropONE PTToC service from a large public safety agency in a top-5 U.S. metro market.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BK Technologies Corp reported first quarter ended March 31, 2023 results: revenue $18.7 million, net income ($1.3 million), EPS ($0.07) per basic and diluted share.

Period: first quarter ended March 31, 2023
Revenue: $18.7 million
Net income: ($1.3 million)
EPS: ($0.07) per basic and diluted share
Result: reported results

Exact text from the filing

Company will host a conference call today, May 4, 2023 at 9:00 a.m. Eastern Time. First Quarter 2023 Financial and Operational Update · 184% increase in first quarter revenue to $18.7 million driven by increased shipments and strong demand of the BKR 5000 radio · Gross margin improved to 26%, continuing the sequential quarter over quarter margin improvement trend that

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Source: SEC EDGAR

accession 0001654954-23-005757

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