Bio-key Q4 2021 Earnings Report
Key Takeaways
BIO-key International, Inc. reported a decline in Q4 revenue to $935K from $1.1M in the previous year, while the operating loss increased to $2M from $1.4M. However, license fee revenue increased 52% to $544k, representing 88% of total gross profit.
Q4 revenue declined to $935K from $1.1M in Q4 2020.
License fee revenue increased 52% to $544k from $357k in Q4 2020.
Q4 operating loss increased to $2M from a loss of $1.4M in Q4 2020.
Acquired Swivel Secure Europe, expanding global customer base and geographic reach.
Bio-key
Bio-key
Bio-key Revenue by Segment
Forward Guidance
BIO-key initiated full-year 2022 revenue guidance in the range of $10-13M, representing potential growth in excess of 100% over 2021. The company estimates that it can achieve break-even operations within this revenue range, subject to the mix of hardware and higher-margin software revenue.
Positive Outlook
- Awareness of the need for enhanced cybersecurity.
- Solutions directly address critical cybersecurity issues.
- Momentum in business.
- Addition of Swivel Secure Europe.
- Building progress in African projects.
Revenue & Expenses
Visualization of income flow from segment revenue to net income