BioKey reported third-quarter license fee revenue of $1.28 million, up 39%, lifting gross margin to 90%. It retired remaining note debt, won a Central Bank of Jordan initiative, and targets profitability with roughly $1.2 million in first-quarter license renewals.
BKYI · Bio Key International Inc
Substantial doubt about the company's ability to continue as a going concern.
“In accordance with ASU *No.* *2014*-*15,* "Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic *205*-*40*)", the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within *one* year after the date that the consolidated financial statements are issued. The history of losses, the negative cash flow from operations, and the dependence by the Company on its ability to obtain additional financing to fund its operations after the current cash resources are exhausted raise doubt about the Company's ability to continue as a going concern.”View the 10-Q filed Nov 13, 2026
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BIO-KEY INTERNATIONAL, INC. reported nine-month revenue of 5,548,305, net loss of 1,667,972 and operating cash outflow of 2,634,682. Management said substantial doubt exists about its ability to continue as a going concern.
BIO-key reported Q3’26 license fee revenue growth of 39%, gross margin improvement to 90%, and an 8% narrowing of net loss to $(886K). Nine-month revenue rose 14% to $5.5M, working capital reached $3.1M, and the company retired its remaining note.
On October 30, 2026, Bio Key International, Inc. stockholders approved issuing up to 1,236,668 common shares upon exercise of warrants issued in the August 10, 2026 warrant inducement transaction.
BIO-key registered resale of up to 1,236,668 common shares issuable upon warrant exercise by Armistice Capital Master Fund Ltd.; full cash exercise would provide approximately $5,020,872.08, while sale proceeds go to the selling stockholder.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q3 FY26 earnings call · Nov 13, 2026TL;DR. License revenue grew 39% and lifted gross margin to 90%, while 9M revenue rose 14% and net loss improved 42%. International customer wins, a stronger pipeline, and debt retirement support management’s outlook for a solid finish to 2026 and a strong start to 2027. However, Q3 revenue declined 4%, hardware and service revenue fell, SG&A increased, and the warrant inducement generated a $4,502,004 deemed dividend.
- + Q3 license fee revenue grew 39% year over year, lifting gross margin to 90% from 77% and reducing the operating loss by 8%.
- + For 9M'26, revenue grew 14%, gross margin improved to 86%, and net loss improved 42%.
- + BIO-key won national biometric authentication and identity-security engagements in Jordan and Portugal.
- + BIO-key retired its remaining note payable and became effectively free of debt, apart from a $12k European bank obligation.
- + Management anticipates a solid finish to 2026 and a strong start to 2027, supported by government wins, an expanding pipeline, existing-customer deployments, and license renewals.
- + EMESA revenue grew 39% to $924,760, with regional license fees more than doubling to $903,249 from $446,480.
- − Q3 total revenue declined 4% year over year as lower hardware sales offset software license growth.
- − Q3 hardware revenue fell to $12,404 from $363,642 as new orders were primarily software-only and the prior period included large deployments.
- − Service, maintenance, and other revenue decreased 27% to $195,128 because of renewal timing and the shift to partner-led SaaS and subscription deployments.
- − Q3 SG&A rose 9% to $1,524,583, reflecting higher administrative personnel and annual meeting costs.
- − A $4,502,004 non-cash deemed dividend increased the Q3 loss available to common stockholders to $5,388,087, or $4.01 per share.
- − The company continues to disclose risks related to its history of losses, limited revenue, capital needs, and continuing as a going concern.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Weighted average common shares outstanding (basic and diluted) | 1,036,938 | 1H'26 | — |
| non-recurring custom services revenue | $4,000 | the three months ended June 30, 2026 filing | — |
| recurring maintenance and support revenue | $227,000 | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Security & Protection Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
BKYI
this stock
Bio Key International Inc
|
$3.05M | — | +111.8% | — | 13.3% |
|
ALLE
Allegion plc
|
$16.19B | +20.6% | +7.6% | 23.9 | 3.0% |
|
ADT
ADT Inc.
|
$7.23B | +22.7% | +4.7% | — | 2.8% |
|
MSA
MSA Safety Inc
|
$6.71B | +8.8% | +3.7% | 22.4 | 2.9% |
|
BCO
Brinks Co
|
$4.81B | +0.1% | -5.7% | 30.7 | 13.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- % held
- 1.6%
- Reported
- 6 of 0
- Top holder
- StoneX Group Inc.
- Filed
- Nov 13, 2026
- This year
- 35
BIO-KEY INTERNATIONAL, INC. reported nine-month revenue of 5,548,305, net loss of 1,667,972 and operating cash outflow of 2,634,682. Management said substantial doubt exists about its ability to continue as a going concern.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| BKYI | -10.9% | -19.4% | -51.8% | -21.5% | -60.7% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -13.5% | -18.2% | -52.3% | -21.3% | -71.4% |