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Dec 31, 2024
Bio-key Q4 2024 Earnings Report
Bio-key reduced its Q4 2024 net loss and significantly improved gross profit through a strategic shift to high-margin software license revenues.
Key Takeaways
Bio-key’s Q4 2024 performance reflected a 20% increase in license fee revenue and a meaningful reduction in net loss. The transition away from lower-margin services and hardware sales contributed to a substantial improvement in profitability despite a year-over-year revenue decline.
Q4 2024 revenue was $1.46 million, down from $1.83 million in Q4 2023.
License fee revenue rose 77% to $1.02 million in Q4 2024.
Net loss narrowed to $1.57 million in Q4 2024, from $2.37 million a year earlier.
Gross profit turned positive at $1.20 million versus a loss in Q4 2023.
Bio-key
Bio-key
Bio-key Revenue by Segment
Revenue by Segment
License Fees Revenue
CapyFin.comServices Revenue
CapyFin.comHardware Revenue
CapyFin.com Forward Guidance
Bio-key expressed confidence in improved top- and bottom-line performance in 2025, driven by demand for its biometric and IAM solutions across financial services, education, and international defense sectors.
Positive Outlook
- Strong demand from defense and financial clients.
- Successful transition to high-margin license revenues.
- Gross margin expansion supports profitability.
- Strategic partnerships to expand vertical market reach.
- Growing adoption of passwordless and tokenless IAM.
Challenges Ahead
- Quarter-to-quarter revenue volatility expected.
- Continued net losses despite operational improvements.
- Significant decline in hardware and service revenues.
- Limited cash reserves at year-end.
- Ongoing business transition challenges post-SSL exit.
Revenue & Expenses
Visualization of income flow from segment revenue to net income