Financial Data and Key Metrics Changes - In Q4 2022, the company reported sales of approximately $20.3 million, up from $12.8 million in the same quarter last year, indicating significant growth [72] - Gross profit margins decreased to 22% in Q4 2022 from 36% in the same quarter last year, primarily due to increased material and freight costs, along with a one-time inventory adjustment of $254,000 [8][9] - The company recorded a net loss of $961,000 or $0.06 per share in Q4 2022, compared to a net loss of $303,000 or $0.02 per share in the prior year [9] Business Line Data and Key Metrics Changes - The BKR 5000 radio saw strong demand, with a record shipment of 11,200 units in Q4 2022, more than double the amount shipped in Q3 2022 [3] - The company is targeting the shipment of 32,000 to 36,000 radio units in 2023, representing a growth of 25% to 40% compared to 2022 [4] Market Data and Key Metrics Changes - The addressable market for the InteropONE service is estimated to be around $150 million, assuming low single-digit market penetration [25] - The company has received its first order from a large public safety agency in a top 5 U.S. metropolitan market, indicating growing market interest [66] Company Strategy and Development Direction - The company aims to establish a strong presence in federal, state, and local public safety markets with the BKR 9000 and InteropONE [11] - The focus for 2023 includes maximizing production efficiency and targeting a gross margin of 35% for the full year [27][57] - The decision to suspend dividends was made to prioritize capital allocation towards organic growth, particularly for the BKR 5000, BKR 9000, and the SaaS division [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering 2023 with strong backlog and bookings momentum, alongside the anticipated launch of the BKR 9000 [4] - The company expects margin improvement in Q1 2023 and throughout the year, driven by incremental product cost improvements [14][27] - Management highlighted the importance of the InteropONE service in improving first responder response times, which could save lives [7] Other Important Information - The company has approximately $1.9 million in cash and cash equivalents and only $329,000 in long-term debt, providing a solid liquidity position for growth [56] - The company added a second production line at its facility, significantly increasing manufacturing capacity [67] Q&A Session Summary Question: What does the gross margin say about the ability to raise prices? - Management indicated that while there is some ability to raise prices, many contracts were signed at earlier pricing levels, which are still being fulfilled [17][77] Question: When will sales of the BKR 9000 commence? - Sales of the BKR 9000 cannot begin until FCC authorization is received, which is expected shortly [18][68] Question: Does everyone need the InteropONE app for it to work? - The app is free to download, and users can join a talk group quickly through a text message link sent by a host agency [20][35][82]

BK Technologies Corporation (NYSE:BKTI) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET Company Participants John Suzuki - CEO & Director John Nesbett - IMS Investor Relations Scott Malmanger - Interim CFO, Principal Accounting Officer & Company Secretary Conference Call Participants Brett Reiss - Janney Montgomery Scott Operator Good morning, ladies and gentlemen, and welcome to the BK Technologies Corporation Conference Call for the Third Quarter 2022. This call is being recorded. [Operator I ...

[PART I - FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20FINANCIAL%20STATEMENTS) This section presents the unaudited condensed consolidated financial statements for the quarterly period ended September 30, 2022, detailing balance sheets, statements of operations, and cash flows, reflecting key financial changes Condensed Consolidated Balance Sheet (Unaudited) | Account | Sep 30, 2022 ($ in thousands) | Dec 31, 2021 ($ in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | 4,034 | 10,580 | | Trade accounts receivable, net | 5,379 | 8,229 | | Inventories, net | 26,332 | 16,978 | | Total current assets | 37,456 | 37,421 | | Total assets | 49,038 | 50,385 | | **Liabilities & Equity** | | | | Accounts payable | 13,257 | 4,458 | | Total current liabilities | 22,824 | 12,234 | | Total liabilities | 28,045 | 17,767 | | Total stockholders' equity | 20,993 | 32,618 | | Total liabilities and stockholders' equity | 49,038 | 50,385 | Condensed Consolidated Statements of Operations (Unaudited) | Metric | Three Months Ended Sep 30, 2022 ($ in thousands) | Three Months Ended Sep 30, 2021 ($ in thousands) | Nine Months Ended Sep 30, 2022 ($ in thousands) | Nine Months Ended Sep 30, 2021 ($ in thousands) | | :--- | :--- | :--- | :--- | :--- | | Sales, net | 11,917 | 12,626 | 30,612 | 32,526 | | Cost of products | 9,676 | 8,488 | 25,175 | 20,914 | | Operating loss | (2,391) | (370) | (9,515) | (1,422) | | Net loss | (2,402) | (2,566) | (10,672) | (1,398) | | Net loss per share-basic | (0.14) | (0.15) | (0.63) | (0.10) | Condensed Consolidated Statements of Cash Flows (Unaudited, Nine Months Ended) | Activity | Sep 30, 2022 ($ in thousands) | Sep 30, 2021 ($ in thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | (6,858) | (3,619) | | Net cash used in investing activities | (959) | (1,921) | | Net cash provided by financing activities | 1,271 | 12,801 | | Net change in cash and cash equivalents | (6,546) | 7,261 | | Cash and cash equivalents, end of period | 4,034 | 14,087 | - On October 27, 2022, the Company entered into a Letter of Intent for a new one-year Line of Credit of up to **$15 million** to replace the existing JPMorgan Chase facility and for working capital[99](index=99&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management discusses the 5.6% Q3 2022 revenue decline due to supply chain issues and Hurricane Ian, sharply reduced gross profit margins, increased SG&A, and a higher operating loss, while addressing liquidity management and credit facility negotiations - Customer demand and orders remained strong in Q3 2022, but supply chain constraints and Hurricane Ian limited product shipments, increasing backlog[126](index=126&type=chunk)[137](index=137&type=chunk) Q3 and Nine-Month 2022 Performance vs. 2021 | Metric | Q3 2022 | Q3 2021 | Change | Nine Months 2022 | Nine Months 2021 | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Sales | $11.9M | $12.6M | -5.6% | $30.6M | $32.5M | -5.9% | | Gross Profit Margin | 18.8% | 32.8% | -14.0 p.p. | 17.8% | 35.7% | -17.9 p.p. | | SG&A Expenses | $4.6M | $4.5M | +2.8% | $15.0M | $13.0M | +14.7% | | Operating Loss | ($2.4M) | ($0.4M) | +500% | ($9.5M) | ($1.4M) | +578% | | Net Loss | ($2.4M) | ($2.6M) | -7.7% | ($10.7M) | ($1.4M) | +664% | - Gross profit margin declined due to increased material and freight costs, leading to suboptimal manufacturing overhead absorption[143](index=143&type=chunk) - Net cash used in operating activities for the nine months ended September 30, 2022, was **$6.9 million**, primarily due to net loss and a **$9.4 million** inventory increase to mitigate supply chain risks[160](index=160&type=chunk)[161](index=161&type=chunk) - The company manages liquidity with its **$5 million** JPMC credit facility, with **$4.46 million** outstanding as of September 30, 2022, expiring January 31, 2023[166](index=166&type=chunk)[170](index=170&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK.) The company is not required to provide disclosure under this item as it qualifies as a "smaller reporting company" according to Regulation S-K - As a "smaller reporting company" under Regulation S-K, the Company is not required to include market risk disclosures[177](index=177&type=chunk) [Item 4. Controls and Procedures](index=29&type=section&id=Item%204.%20CONTROLS%20AND%20PROCEDURES) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of September 30, 2022, with no material changes in internal control over financial reporting during the third quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the reporting period end[179](index=179&type=chunk) - No material changes occurred in the company's internal control over financial reporting during the third quarter of 2022[180](index=180&type=chunk) [PART II - OTHER INFORMATION](index=30&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Item 1A. Risk Factors](index=30&type=section&id=Item%201A.%20RISK%20FACTORS) The company reports no material changes to the Risk Factors previously disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 - No material changes occurred to the Risk Factors disclosed in the Annual Report on Form 10-K for the fiscal year ended December 31, 2021[184](index=184&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=30&type=section&id=Item%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) This section details the company's credit agreement limitations on dividends and a **$5 million** share repurchase program authorized in December 2021, under which no shares were repurchased in Q3 2022 - The Board authorized a share repurchase program on December 21, 2021, allowing purchases of up to **$5 million** of common shares[186](index=186&type=chunk) Issuer Purchases of Equity Securities (Q3 2022) | Period | Total Number of Shares Purchased | Average Price Paid Per Share | Approximate Dollar Value of Shares that May Still be Purchased ($) | | :--- | :--- | :--- | :--- | | July 1–31, 2022 | — | — | 5,000,000 | | August 1–31, 2022 | — | — | 5,000,000 | | September 1–30, 2022 | — | — | 5,000,000 | | **Quarter Ended Sep 30, 2022** | **—** | **$ —** | **$ 5,000,000** | [Item 6. Exhibits](index=31&type=section&id=Item%206.%20EXHIBITS) This section provides an index of exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data files - The report includes required exhibits such as CEO and CFO certifications under Sarbanes-Oxley Act Sections 302 and 906, and various XBRL documents[191](index=191&type=chunk)[192](index=192&type=chunk) [Signatures](index=32&type=section&id=SIGNATURES) - The report was duly signed and authorized on November 4, 2022, by John M. Suzuki, CEO, and Scott A. Malmanger, Interim CFO[196](index=196&type=chunk)

| --- | --- | --- | |--------------------------------------|-----------------|-----------------| | | | | | | | | | SECOND QUARTER 2022 EARNINGS RESULTS | BK TECHNOLOGIES | | | NYSE American: BKTI | | August 11, 2022 | DISCLOSURES 2 2 Forward-Looking Statements This presentation contains certain forward-looking statements that are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company's operations, economic p ...

BK Technologies Corporation (NYSE:BKTI) Q2 2022 Earnings Conference Call August 11, 2022 9:00 AM ET Company Participants John Suzuki - Chief Executive Officer Scott Malmanger - Chief Financial Officer Conference Call Participants Aaron Martin - AIGH Investment Partners Orin Hirschman - AIGH Investment Partners Operator Good morning, ladies and gentlemen and welcome to the BK Technologies Corporation Conference Call for the Second Quarter 2022. This call is being recorded. [Operator Instructions] Following m ...

Financial Performance - For the second quarter of 2022, sales increased by 6.8% to approximately $12.1 million compared to approximately $11.3 million for the same quarter last year [125]. - For the six months ended June 30, 2022, sales totaled approximately $18.7 million, compared to approximately $19.9 million for the same period last year, reflecting a decline [125]. - For Q2 2022, the company reported a net loss of approximately $4.3 million ($0.26 per share), compared to a net income of approximately $1.8 million ($0.14 per share) in Q2 2021 [130]. - For the first six months of 2022, the company reported a net loss of approximately $8.3 million, compared to a net income of approximately $1.2 million for the same period last year [159]. Profitability Metrics - Gross profit margins for the second quarter of 2022 were approximately 14.2%, down from 38.4% for the same quarter last year [126]. - Gross profit margin for Q2 2022 was approximately 14.2%, a significant decrease from 38.4% in Q2 2021 [139]. - The company recognized an operating loss of approximately $3.7 million for the second quarter of 2022, compared to an operating loss of approximately $0.2 million for the same quarter last year [128]. - The operating loss for Q2 2022 was approximately $3.7 million (30.4% of sales), compared to an operating loss of approximately $0.2 million (1.8% of sales) in Q2 2021 [149]. Expenses - SG&A expenses for the second quarter of 2022 totaled approximately $5.4 million, an increase from approximately $4.6 million for the same quarter last year [127]. - SG&A expenses for the six-month period ended June 30, 2022, increased by 21.1% to approximately $10.3 million compared to approximately $8.5 million for the same period last year [127]. - SG&A expenses for Q2 2022 totaled approximately $5.4 million (44.6% of sales), up from approximately $4.6 million (40.2% of sales) in Q2 2021 [144]. - Engineering and product development expenses for Q2 2022 were approximately $2.3 million (18.9% of sales), consistent with the same amount in Q2 2021 [145]. Supply Chain and Operational Challenges - Supply chain constraints limited the ability to manufacture the quantities needed to fulfill all customer orders, resulting in a backlog [123]. - Customer demand remained strong, but supply chain constraints limited the ability to convert orders into shipments and sales revenue [135]. - The company anticipates fulfilling many of the backlog orders in subsequent quarters, despite ongoing supply chain challenges [135]. - The company faced increased costs and inventory levels for certain components due to worldwide shortages, particularly in semiconductors and integrated circuits [120]. - The ongoing geopolitical conflicts and related sanctions may continue to adversely impact the company's business and financial results [120]. Balance Sheet and Cash Flow - As of June 30, 2022, working capital was approximately $17.4 million, down from approximately $25.2 million as of December 31, 2021 [131]. - Cash used in investing activities totaled approximately $0.7 million for the six months ended June 30, 2022, down from approximately $1.5 million for the same period last year [160]. - Cash provided by financing activities was approximately $1.3 million for the six months ended June 30, 2022, compared to approximately $13.2 million for the same period last year [161]. - The company had an outstanding balance of $3,958 under the Credit Agreement as of June 30, 2022, with a net balance availability of $1,042 [167]. - The company’s cash and cash equivalents balance at June 30, 2022, was approximately $5.9 million, which is expected to meet working capital requirements for the foreseeable future [169]. - The company is in compliance with all covenants under the Credit Agreement as of June 30, 2022 [167]. Investments and Unrealized Gains/Losses - The company recognized an unrealized loss of approximately $0.6 million on its investment in FG Financial for Q2 2022, compared to an unrealized gain of approximately $2.3 million in Q2 2021 [151]. - The company experienced an unrealized loss on securities totaling approximately $1.1 million for the six months ended June 30, 2022, compared to an unrealized gain of approximately $2.5 million for the same period last year [159].

BK Technologies Corporation (NYSE:BKTI) Q1 2022 Earnings Conference Call May 12, 2022 9:00 AM ET Company Participants John Suzuki - CEO Bill Kelly - EVP and CFO Conference Call Participants Aaron Martin - AIGH Investment Partners Orin Hirschman - AIGH Investment Partners Operator Good morning, ladies and gentlemen, and welcome to the BK Technologies Corporation Conference Call for the First Quarter 2022. This call is being recorded. All participants have been placed on a listen-only mode. Following the mana ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 83-4064262 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $.60 per share BKTI NYSE American Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated Filer ☒ Smaller reporting company ☒ Emerging growth company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) ...

BK Technologies Corporation (NYSE:BKTI) Q4 2021 Earnings Conference Call March 16, 2022 9:00 AM ET Company Participants John Suzuki – Chief Executive Officer Bill Kelly – Executive Vice President and Chief Financial Officer Conference Call Participants Brett Reiss – Janney Montgomery Scott Walter Bellinger – Mayflower Capital Operator Good morning, ladies and gentlemen, and welcome to the BK Technologies Corporation Conference Call for the Fourth Quarter and Year End 2021. This call is being recorded. All p ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 0 ...