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Mar 31, 2020
Bio-key Q4 2019 Earnings Report
BIO-key's Q1 2020 financial performance improved substantially compared to the same period in 2019, driven by gross profit improvement and decreased operating expenses.
Key Takeaways
BIO-key reported a decrease in Q1 2020 revenue, but a significant improvement in gross margin and a reduction in operating loss compared to Q1 2019. The company's focus on large African contracts positions it for substantial revenue growth in 2020.
Q1 2020 revenues declined to $530,000 from $552,000 in Q1 2019.
Gross margin improved to 67% in Q1 2020 versus a negative gross margin in Q1 2019.
Q1 2020 operating expenses declined to $1.7 million from $1.8 million.
Operating loss was reduced to $1.3M in Q1 2020 versus $1.8M in Q1 2019.
Bio-key
Bio-key
Bio-key Revenue by Segment
Revenue by Segment
License Fees Revenue
CapyFin.com Forward Guidance
BIO-key has a strong outlook for 2020 and expects to commence work on its large African contracts in the coming months, leading to substantial revenue growth.