A Business at a Glance
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BIO KEY INTERNATIONAL INC
BKYI
$26M
Mkt Cap
$4.55
-2.03%
BIO KEY INTERNATIONAL INC (BKYI) has a 5-year average return on invested capital (ROIC) of -50.1%. This is below average and may indicate limited pricing power.
BIO KEY INTERNATIONAL INC (BKYI) has a market capitalization of $33M. It is classified as a small-cap stock.
BIO KEY INTERNATIONAL INC (BKYI) does not currently pay a regular dividend.
BIO KEY INTERNATIONAL INC (BKYI) operates in the Services-Prepackaged Software industry, within the Technology sector.
BIO KEY INTERNATIONAL INC (BKYI) reported annual revenue of $7 million in its most recent fiscal year, based on SEC EDGAR filings.
BIO KEY INTERNATIONAL INC (BKYI) has a net profit margin of -62.1%. The company is currently unprofitable.
BIO KEY INTERNATIONAL INC (BKYI) generated $-3 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
PART I Solely for convenience, trademarks and tradenames referred to in this Annual Report on Form 10-K appear (after the first usage) without the ® and ™ symbols, but those references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or that the applicable owner will not assert its rights, to these trademarks and tradenames. BIO-key International, Inc. (the “Company,” “BIO-key,” “we,” or “us”) is a leading identity and access management (IAM) platform provider enabling secure work-from-anywhere for enterprise, education, and government customers using secure multi-factor authentication (MFA). Our vision is to enable any organization to secure streamlined and passwordless workforce, customer, citizen and student access to any online service, workstation, or mobile application, without a requirement to use tokens or phones for roving users and shared workstations.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 6.3M | 6.9M | 7.8M | 7.0M | 5.1M | - |
| Net Income | -4.3M | -4.3M | - | - | -5.1M | -9.8M |
| EPS | $-0.80 | $-2.09 | $-15.21 | $-490.68 | $-11.70 | $-37.44 |
| Free Cash Flow | -3.4M | -2.9M | -3.8M | -6.3M | -9.0M | -5.0M |
| ROIC | -57.6% | -69.8% | - | - | -32.4% | -48.1% |
| Gross Margin | 78.4% | 81.4% | 18.5% | 65.2% | 67.3% | - |
| Debt/Equity | 0.22 | 0.44 | 0.34 | 0.61 | 0.02 | 0.15 |
| Dividends/Share | $0.00 | - | - | - | - | $0.43 |
| Operating Income | -3.9M | -4.0M | -8.8M | -9.9M | -4.9M | -5.2M |
| Operating Margin | -61.5% | -57.9% | -113.8% | -141.4% | -96.6% | - |
| ROE | -70.4% | -177.9% | - | - | -32.4% | -48.1% |
| Shares Outstanding | 7M | 6M | 6M | 0M | 0M | 0M |
| Metric | 2019 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.0M | 4.0M | 5.3M | 3.0M | 6.3M | N/A | N/A | N/A | 5.1M | 7.0M | 7.8M | 6.9M | 6.3M |
| Gross Margin | 80.5% | 81.3% | 75.7% | 75.5% | 48.6% | N/A | N/A | N/A | 67.3% | 65.2% | 18.5% | 81.4% | 78.4% |
| R&D | 1.3M | 1.6M | 1.6M | 2.0M | 1.7M | 1.4M | 1.3M | 1.4M | 2.4M | 3.3M | 2.4M | 2.5M | 2.6M |
| SG&A | 2.8M | 3.7M | 4.1M | 4.4M | 5.7M | 5.3M | 5.0M | 5.8M | 6.0M | 9.4M | 7.9M | 7.1M | 6.3M |
| EBIT | -2.5M | -2.0M | -1.7M | -4.2M | -4.3M | N/A | -1.1M | -5.2M | -4.9M | -9.9M | -8.8M | -4.0M | -3.9M |
| Op. Margin | -127.0% | -50.9% | -32.2% | -141.2% | -67.8% | N/A | N/A | N/A | -96.6% | -141.4% | -113.8% | -57.9% | -61.5% |
| Net Income | -2.6M | -1.9M | -2.0M | -5.0M | -5.0M | -8.5M | -15M | -9.8M | -5.1M | N/A | N/A | -4.3M | -4.3M |
| Net Margin | -130.0% | -47.0% | -37.8% | -167.8% | -80.0% | N/A | N/A | N/A | -99.0% | N/A | N/A | -62.1% | -67.3% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 7.0M | 0 | 0 | 2.4M | 20K | 213K | 213K |
| Returns on Capital | |||||||||||||
| ROIC | -73.7% | N/M | -9.5% | -29.5% | -34.5% | N/A | N/M | -48.1% | -32.4% | N/A | N/A | -69.8% | -57.6% |
| ROE | -245.7% | -208.1% | -21.1% | -29.7% | -34.5% | -70.2% | N/A | -48.1% | -32.4% | N/A | N/A | -177.9% | -70.4% |
| ROA | -134.5% | -79.0% | -17.7% | -26.5% | -30.2% | -61.2% | -584.3% | -43.5% | -28.5% | N/A | N/A | -65.5% | -42.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -2.7M | -2.5M | -16M | -4.4M | -2.5M | -1.6M | -1.9M | -5.0M | -9.0M | -6.2M | -3.8M | -2.9M | -3.4M |
| Free Cash Flow | -2.8M | -2.5M | -16M | -4.5M | -2.6M | -1.7M | -1.9M | -5.0M | -9.0M | -6.3M | -3.8M | -2.9M | -3.4M |
| Owner Earnings | -2.8M | -2.8M | -16M | -4.8M | -3.5M | -2.7M | -2.9M | -5.9M | -9.5M | -6.9M | -4.4M | -3.5M | -4.5M |
| CapEx | 129K | 19K | 3K | 53K | 166K | 52K | 29K | 36K | 42K | 82K | 1K | 13K | 3K |
| Maint. CapEx | 29K | 40K | 43K | 63K | 66K | 100K | 125K | 206K | 271K | 342K | 430K | 398K | 1.2M |
| Growth CapEx | 101K | 0 | 0 | 0 | 100K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 29K | 40K | 43K | 63K | 66K | 100K | 125K | 206K | 271K | 342K | 430K | 398K | 1.2M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 535K | 0 | 1.4M | 0 | 113K | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.5% | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 82K | 207K | 324K | 261K | 941K | 943K | 913K | 764K | 289K | 312K | 227K | 225K | -48K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 707K | 4.5M | 0 | 155K | 2.2M | 763K | 763K |
| Balance Sheet | |||||||||||||
| Net Debt | -1.5M | N/A | -4.1M | N/A | N/A | N/A | 2.4M | -15M | -15M | -2.0M | -657K | 769K | -720K |
| Cash & Equiv. | 2.0M | 844K | 4.3M | 1.1M | 289K | 324K | 79K | 17M | 7.8M | 2.6M | 511K | 438K | 2.0M |
| Long-Term Debt | 497K | N/A | 250K | N/A | N/A | N/A | N/A | N/A | 0 | 327K | 189K | 45K | 1.0M |
| Debt/Equity | 0.47 | 1.72 | 0.01 | 0.12 | 0.17 | 0.12 | -1.32 | 0.15 | 0.02 | 0.61 | 0.34 | 0.44 | 0.22 |
| Interest Coverage | -18.5 | -291302.9 | -8.8 | -140060.6 | -158346.9 | N/A | -1.0 | -1.2 | -274.5 | -948.5 | -40.4 | -32.3 | -32.3 |
| Equity | 1.1M | 759K | 18M | 15M | 14M | 10M | -2.3M | 20M | 16M | 5.3M | 1.1M | 3.8M | 6.0M |
| Total Assets | 2.7M | 2.1M | 20M | 17M | 16M | 12M | 2.5M | 23M | 18M | 11M | 4.5M | 8.6M | 10M |
| Total Liabilities | 1.7M | 1.3M | 2.3M | 1.8M | 2.3M | 1.2M | 4.8M | 2.2M | 2.2M | 6.0M | 3.5M | 4.8M | 4.1M |
| Intangibles | 175K | 161K | 148K | 134K | 181K | 196K | 154K | 1.5M | 1.3M | 1.8M | 1.4M | 1.1M | 887K |
| Retained Earnings | -55M | -57M | -59M | -63M | -67M | -75M | -90M | -100M | -105M | -116M | -125M | -129M | -132M |
| Working Capital | 985K | 485K | 11M | 3.1M | 4.7M | 3.0M | -3.0M | 17M | 12M | 3.5M | -591K | -2.7M | 782K |
| Current Assets | 2.4M | 1.8M | 13M | 4.9M | 7.0M | 4.2M | 1.4M | 19M | 14M | 9.0M | 2.6M | 1.9M | 3.7M |
| Current Liabilities | 1.4M | 1.3M | 2.3M | 1.8M | 2.3M | 1.2M | 4.4M | 1.9M | 2.0M | 5.5M | 3.2M | 4.6M | 3.0M |
| Per Share Data | |||||||||||||
| EPS | -14.08 | -7.04 | -42.24 | -104.43 | -8.11 | -7.79 | -1,182.24 | -37.44 | -11.70 | -490.68 | -15.21 | -2.09 | -0.80 |
| Owner EPS | -15.24 | -10.28 | -337.88 | -99.79 | -5.58 | -2.43 | -53.20 | -22.65 | -22.03 | -68.29 | -0.77 | -0.61 | -0.61 |
| Book Value | 5.73 | 2.84 | 385.03 | 323.24 | 22.10 | 9.59 | -42.09 | 77.79 | 36.07 | 52.60 | 0.18 | 0.65 | 0.83 |
| Cash Flow/Share | -14.63 | -9.35 | -330.09 | -93.02 | -3.96 | -1.48 | -34.08 | -18.94 | -20.74 | -61.80 | -0.65 | -0.50 | -0.42 |
| Dividends/Share | N/A | N/A | N/A | 11.19 | N/A | 1.31 | N/A | 0.43 | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 0.2M | 0.3M | 0.0M | 0.0M | 0.6M | 1.1M | 0.1M | 0.3M | 0.4M | 0.1M | 5.8M | 5.8M | 7.3M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -5.7 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 13.1 | 18.2 | 0.5 | N/A | N/A | N/A | N/A | 0.8 | 1.3 | 3.3 | 6.1 | N/A | 5.5 |
| Price/Sales | N/A | 9.0 | 2.6 | N/A | N/A | N/A | N/A | N/A | 6.2 | 8.4 | 2.5 | N/A | 5.3 |
| FCF Yield | -20.4% | -18.3% | -157.1% | N/A | N/A | N/A | -27.1% | -31.0% | -43.2% | -35.8% | -58.1% | N/A | -10.1% |
| Market Cap | 14M | 14M | 9.9M | 0 | 0 | 0 | 6.9M | 16M | 21M | 18M | 6.5M | 0 | 33M |
| Avg. Price | 775.68 | 625.66 | 316.53 | 0.00 | 0.00 | 0.00 | 139.28 | 93.27 | 62.00 | 32.46 | 10.73 | 0.00 | 4.55 |
| Year-End Price | 552.96 | 380.16 | 276.48 | 0.00 | 0.00 | 0.00 | 70.56 | 61.56 | 40.68 | 9.72 | 3.60 | 0.00 | 4.55 |
BIO KEY INTERNATIONAL INC passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 58.1%.
BIO KEY INTERNATIONAL INC (BKYI) has a debt-to-equity ratio of 0.44. This indicates a conservatively financed balance sheet.
BIO KEY INTERNATIONAL INC (BKYI) reported earnings per share (EPS) of $-2.09 in its most recent fiscal year.
BIO KEY INTERNATIONAL INC (BKYI) has a return on equity (ROE) of -177.9%. A negative ROE may indicate losses or negative equity.
BIO KEY INTERNATIONAL INC (BKYI) has a 5-year average gross margin of 58.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for BIO KEY INTERNATIONAL INC (BKYI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BIO KEY INTERNATIONAL INC (BKYI) has a book value per share of $0.65, based on its most recent annual SEC filing.
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