Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025 -14.3% Revenue growth, 20253 What sells Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services License brought in 58% of the revenue BIO KEY INTERNATIONAL INC broke down this way in fiscal 2025.
License $3.4M3 58% down 34% from 2024 Hardware $1.3M3 23% up 112% from 2024 Service $1.2M3 20% up 6% from 2024 Products and services by year
Products and services 2024 2025 License $5.2M $3.4M Hardware $631.7K $1.3M Service $1.1M $1.2M
Regions North America brought in 45% of the revenue BIO KEY INTERNATIONAL INC broke down this way in fiscal 2025.
North America $2.7M3 45% down 23% from 2024 Emesa $2.3M3 38% up 31% from 2024 Africa $781.8K3 13% down 53% from 2024 Asia $232.3K3 4% up 154% from 2024 Regions by year
Regions 2024 2025 North America $3.5M $2.7M Emesa $1.7M $2.3M Africa $1.7M $781.8K Asia $91.3K $232.3K
Where the money goes Where each dollar of revenue went, fiscal 2025 Cost of revenue Research and development Selling, general and admin
Cost of revenue 13¢ $1.4M Research and development 25¢ $2.6M Selling, general and admin 61¢ $6.3M Income tax 0¢ $16.5K Out of $5.9M in revenue.3
Financial statements
Income statement Balance sheet Cash flow
Annual Quarterly
Revenue4 5 6 7 8 3 $5.9M in 2025+162% since 2019 0 $2.0M $4.0M $6.0M $8.0M 2019: $2.3M $2.3M 2019 2020: $2.8M $2.8M 2020 +25% 2021: $5.1M $5.1M 2021 +80% 2022: $7.0M $7.0M 2022 +37% 2023: $7.8M $7.8M 2023 +10% 2024: $6.9M $6.9M 2024 −11% 2025: $5.9M $5.9M 2025 −14% Gross profit4 5 6 7 8 3 $4.6M in 2025-$2.0M 0 $2.0M $4.0M $6.0M 2019: -$193.7K -$193.7K 2019 2020: $2.0M $2.0M 2020 2021: $3.4M $3.4M 2021 +69% 2022: $4.6M $4.6M 2022 +33% 2023: $1.4M $1.4M 2023 −69% 2024: $5.6M $5.6M 2024 +294% 2025: $4.6M $4.6M 2025 −19% Operating income4 5 6 7 8 3 -$6.8M in 2025+539% since 2019 -$10.0M -$7.5M -$5.0M -$2.5M 0 2019: -$1.1M -$1.1M 2019 2020: -$5.2M -$5.2M 2020 +387% 2021: -$4.9M -$4.9M 2021 −5% 2022: -$9.9M -$9.9M 2022 +101% 2023: -$8.8M -$8.8M 2023 −11% 2024: -$4.0M -$4.0M 2024 −55% 2025: -$6.8M -$6.8M 2025 +70% Net income4 5 6 7 8 3 -$7.2M in 2025−51% since 2019 -$15.0M -$10.0M -$5.0M 0 2019: -$14.6M -$14.6M 2019 2020: -$9.7M -$9.7M 2020 −34% 2021: -$5.1M -$5.1M 2021 −48% 2022: -$11.9M -$11.9M 2022 +135% 2023: -$8.5M -$8.5M 2023 −28% 2024: -$4.3M -$4.3M 2024 −50% 2025: -$7.2M -$7.2M 2025 +66% Revenue9 10 $1.9M in Q2 FY2026−11% since Q1 FY2026 0 $1.0M $2.0M $3.0M Q1 FY2026: $2.1M $2.1M Q1 FY2026 Q2 FY2026: $1.9M $1.9M Q2 FY2026 −11% Gross profit9 10 $1.7M in Q2 FY2026−5% since Q1 FY2026 0 $500.0K $1.0M $1.5M $2.0M Q1 FY2026: $1.8M $1.8M Q1 FY2026 Q2 FY2026: $1.7M $1.7M Q2 FY2026 −5% Operating income9 10 -$529.4K in Q2 FY2026+236% since Q1 FY2026 -$600.0K -$400.0K -$200.0K 0 Q1 FY2026: -$157.7K -$157.7K Q1 FY2026 Q2 FY2026: -$529.4K -$529.4K Q2 FY2026 +236% Net income9 10 -$576.9K in Q2 FY2026+181% since Q1 FY2026 -$600.0K -$400.0K -$200.0K 0 Q1 FY2026: -$205.0K -$205.0K Q1 FY2026 Q2 FY2026: -$205.0K -$205.0K Q2 FY2026 +0% Q2 FY2026: -$576.9K -$576.9K Q2 FY2026 +181% Fiscal year 2019 2020 2021 2022 2023 2024 2025 Revenue $2.3M4 $2.8M5 $5.1M6 $7.0M7 $7.8M8 $6.9M3 $5.9M3 Cost of revenue $2.5M4 $794.8K5 $1.7M6 $2.4M7 $6.3M8 $1.3M3 $1.4M3 Gross profit -$193.7K4 $2.0M5 $3.4M6 $4.6M7 $1.4M8 $5.6M3 $4.6M3 Research and development $1.3M4 $1.4M5 $2.4M6 $3.3M7 $2.4M8 $2.5M3 $2.6M3 Selling, general and admin $5.0M4 $5.8M5 $6.0M6 $9.4M7 $7.9M8 $7.1M3 $6.3M3 Operating income -$1.1M4 -$5.2M5 -$4.9M6 -$9.9M7 -$8.8M8 -$4.0M3 -$6.8M3 Interest $1.1M4 $4.3M5 $18.0K6 $10.5K7 $218.3K7 Income tax $04 $05 $06 -$20.4K7 -$134.0K8 -$23.0K3 $16.5K3 Net income -$14.6M4 -$9.7M5 -$5.1M6 -$11.9M7 -$8.5M8 -$4.3M3 -$7.2M3 Earnings per share -$0.656 -$27.267 -$15.218 -$20.883 -$10.773
Total assets4 5 6 7 8 3 $8.3M in 2025+233% since 2019 0 $10.0M $20.0M $30.0M 2019: $2.5M $2.5M 2019 2020: $22.5M $22.5M 2020 +802% 2021: $17.8M $17.8M 2021 −21% 2022: $11.3M $11.3M 2022 −36% 2023: $4.5M $4.5M 2023 −60% 2024: $8.6M $8.6M 2024 +91% 2025: $8.3M $8.3M 2025 −4% Total liabilities4 5 6 7 8 3 $3.2M in 2025−33% since 2019 0 $2.0M $4.0M $6.0M $8.0M 2019: $4.8M $4.8M 2019 2020: $2.2M $2.2M 2020 −54% 2021: $2.2M $2.2M 2021 −1% 2022: $6.0M $6.0M 2022 +181% 2023: $3.5M $3.5M 2023 −43% 2024: $4.8M $4.8M 2024 +40% 2025: $3.2M $3.2M 2025 −34% Shareholders’ equity5 6 7 8 3 $5.1M in 2025-$10.0M 0 $10.0M $20.0M $30.0M 2019: -$2.3M -$2.3M 2019 2020: $20.3M $20.3M 2020 2021: $15.6M $15.6M 2021 −23% 2022: $5.3M $5.3M 2022 −66% 2023: $1.1M $1.1M 2023 −80% 2024: $3.8M $3.8M 2024 +255% 2025: $5.1M $5.1M 2025 +35% Cash4 5 6 7 8 3 $2.7M in 2025+3310% since 2019 0 $5.0M $10.0M $15.0M $20.0M 2019: $79.0K $79.0K 2019 2020: $17.0M $17.0M 2020 +21407% 2021: $7.8M $7.8M 2021 −54% 2022: $2.6M $2.6M 2022 −66% 2023: $511.4K $511.4K 2023 −81% 2024: $437.6K $437.6K 2024 −14% 2025: $2.7M $2.7M 2025 +516% Long-term debt6 7 8 $44.8K in 20240 $100.0K $200.0K $300.0K $400.0K 2021: $0 $0 2021 2022: $326.8K $326.8K 2022 2023: $188.8K $188.8K 2023 −42% 2024: $44.8K $44.8K 2024 −76% Total assets9 10 $7.5M in Q2 FY2026−10% since Q1 FY2025 0 $2.5M $5.0M $7.5M $10.0M Q1 FY2025: $8.3M $8.3M Q1 FY2025 Q2 FY2025: $8.3M $8.3M Q2 FY2025 +0% Q1 FY2026: $8.2M $8.2M Q1 FY2026 −2% Q2 FY2026: $7.5M $7.5M Q2 FY2026 −8% Total liabilities9 10 $3.1M in Q2 FY2026−2% since Q1 FY2025 0 $1.0M $2.0M $3.0M $4.0M Q1 FY2025: $3.2M $3.2M Q1 FY2025 Q2 FY2025: $3.2M $3.2M Q2 FY2025 +0% Q1 FY2026: $3.3M $3.3M Q1 FY2026 +2% Q2 FY2026: $3.1M $3.1M Q2 FY2026 −4% Shareholders’ equity9 10 $4.3M in Q2 FY2026−15% since Q1 FY2025 0 $2.0M $4.0M $6.0M Q1 FY2025: $5.1M $5.1M Q1 FY2025 Q2 FY2025: $5.1M $5.1M Q2 FY2025 +0% Q1 FY2026: $4.9M $4.9M Q1 FY2026 −4% Q2 FY2026: $4.9M $4.9M Q2 FY2026 +0% Q2 FY2026: $4.3M $4.3M Q2 FY2026 −11% Cash9 10 $1.4M in Q2 FY2026−49% since Q1 FY2025 0 $1.0M $2.0M $3.0M Q1 FY2025: $2.7M $2.7M Q1 FY2025 Q2 FY2025: $2.7M $2.7M Q2 FY2025 +0% Q1 FY2026: $2.2M $2.2M Q1 FY2026 −17% Q2 FY2026: $1.4M $1.4M Q2 FY2026 −39% Fiscal year 2019 2020 2021 2022 2023 2024 2025 Cash $79.0K4 $17.0M5 $7.8M6 $2.6M7 $511.4K8 $437.6K3 $2.7M3 Current assets $1.4M4 $18.9M5 $14.0M6 $9.0M7 $2.6M8 $1.9M3 $4.5M3 Total assets $2.5M4 $22.5M5 $17.8M6 $11.3M7 $4.5M8 $8.6M3 $8.3M3 Current liabilities $4.4M4 $1.9M5 $2.0M6 $5.5M7 $3.2M8 $4.6M3 $3.1M3 Long-term debt $06 $326.8K7 $188.8K8 $44.8K8 Total liabilities $4.8M4 $2.2M5 $2.2M6 $6.0M7 $3.5M8 $4.8M3 $3.2M3 Shareholders’ equity -$2.3M5 $20.3M6 $15.6M7 $5.3M8 $1.1M3 $3.8M3 $5.1M3 Shares outstanding 1.8M shares4 7.8M shares5 7.9M shares6 552.7K shares7 1.0M shares8 371.7K shares3 1.1M shares3
Cash from operations4 5 6 7 8 3 -$4.7M in 2025+152% since 2019 -$10.0M -$7.5M -$5.0M -$2.5M 0 2019: -$1.9M -$1.9M 2019 2020: -$5.0M -$5.0M 2020 +168% 2021: -$9.0M -$9.0M 2021 +81% 2022: -$6.2M -$6.2M 2022 −31% 2023: -$3.8M -$3.8M 2023 −39% 2024: -$2.9M -$2.9M 2024 −23% 2025: -$4.7M -$4.7M 2025 +60% Capital spending4 5 6 7 8 3 $12.0K in 2025−58% since 2019 0 $25.0K $50.0K $75.0K $100.0K 2019: $28.8K $28.8K 2019 2020: $35.6K $35.6K 2020 +24% 2021: $42.0K $42.0K 2021 +18% 2022: $82.0K $82.0K 2022 +95% 2023: $1.0K $1.0K 2023 −99% 2024: $13.0K $13.0K 2024 +1205% 2025: $12.0K $12.0K 2025 −8% Free cash flow4 5 6 7 8 3 -$4.7M in 2025+149% since 2019 -$10.0M -$7.5M -$5.0M -$2.5M 0 2019: -$1.9M -$1.9M 2019 2020: -$5.0M -$5.0M 2020 +165% 2021: -$9.0M -$9.0M 2021 +81% 2022: -$6.3M -$6.3M 2022 −30% 2023: -$3.8M -$3.8M 2023 −40% 2024: -$2.9M -$2.9M 2024 −23% 2025: -$4.7M -$4.7M 2025 +60% Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Fiscal year 2019 2020 2021 2022 2023 2024 2025 Cash from operations -$1.9M4 -$5.0M5 -$9.0M6 -$6.2M7 -$3.8M8 -$2.9M3 -$4.7M3 Capital spending $28.8K4 $35.6K5 $42.0K6 $82.0K7 $1.0K8 $13.0K3 $12.0K3 Free cash flow -$1.9M -$5.0M -$9.0M -$6.3M -$3.8M -$2.9M -$4.7M
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