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Sep 30
Bio-key Q3 2025 Earnings Report
Bio-key reported lower revenue and higher losses in Q3 2025 compared to the same quarter last year.
Key Takeaways
Bio-key's Q3 2025 revenue fell due to fewer large customer orders compared to the previous year. While service revenue remained steady, declines in license fees and hardware sales impacted total results. Cost-cutting helped reduce operating expenses, but the company still posted a net loss.
Q3 2025 revenue was $1.55M, down from $2.14M in Q3 2024 due to fewer large customer orders.
Net loss widened to $964,849, or $0.15 per share, compared to $738,959, or $0.39 per share, in Q3 2024.
License fee revenue dropped to $917,951 from $1,441,011 year-over-year.
BIO-key ended the quarter with $2.04M in cash and cash equivalents, up from $0.44M at year-end 2024.
Bio-key
Bio-key
Bio-key Revenue by Segment
Revenue by Segment
License Fees Revenue
CapyFin.comHardware Revenue
CapyFin.comServices Revenue
CapyFin.com Forward Guidance
BIO-key expects full-year 2025 revenue between $6.5M and $7M and anticipates growth in 2026, particularly from defense and government sectors.
Positive Outlook
- Strong pipeline in defense, finance, government, and higher education sectors
- New large biometric authentication deployment in Middle East defense sector
- Expansion of sales network in Europe and Middle East
- Launched FBI-certified EcoID III scanner with secure features
- Raised $3.1M post-quarter to strengthen balance sheet
Challenges Ahead
- Revenue impacted by absence of large orders seen in prior year
- License fees and hardware revenue declined significantly YoY
- Quarterly results likely to remain lumpy due to deal timing
- Continued operating losses despite cost-cutting
- No positive EPS or free cash flow guidance provided
Revenue & Expenses
Visualization of income flow from segment revenue to net income