BIO-key International, Inc. (NASDAQ:BKYI) Q3 2022 Earnings Conference Call November 15, 2022 10:00 AM ET Company Participants Kimberly Johnson - Vice President, Product Michael DePasquale - Chairman and CEO Alex Rocha - Managing Director Cecilia Welch - CFO Conference Call Participants Operator Good morning, ladies and gentlemen. Thank you for standing by, and welcome to the BIO-key International Third Quarter Conference Call. During management's prepared remarks, all participants will be in a listen-only m ...

U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE EXCHANGE ACT For the Transition Period from to Commission file number 1-13463 BIO-KEY INTERNATIONAL, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 41-1741861 (State or Other Jurisdiction of Incorporation of Organization) (IRS ...

Financial Performance - Total revenues for the three months ended June 30, 2022, were $1,947,115, representing a significant increase from $992,090 for the same period in 2021, reflecting a growth of approximately 96.5%[9] - The company reported a net loss of $1,718,957 for the three months ended June 30, 2022, compared to a net loss of $1,161,683 for the same period in 2021, indicating a deterioration in financial performance[9] - The net loss for the six months ended June 30, 2022, was $2,718,360, compared to a net loss of $2,013,114 for the same period in 2021, indicating a worsening financial performance year-over-year[15] - The company reported a comprehensive loss of $1,884,840 for the three months ended June 30, 2022, compared to a comprehensive loss of $1,161,683 for the same period in 2021, indicating a significant increase in losses[9] Assets and Liabilities - Cash and cash equivalents decreased to $4,893,042 as of June 30, 2022, down from $7,754,046 as of December 31, 2021, representing a decline of approximately 37.5%[7] - Total current assets decreased to $12,348,986 as of June 30, 2022, compared to $14,012,873 as of December 31, 2021, a reduction of about 11.9%[7] - Total liabilities increased to $4,005,366 as of June 30, 2022, up from $2,153,586 as of December 31, 2021, reflecting an increase of approximately 85.8%[7] - As of June 30, 2022, the total stockholders' equity was $13,619,539, a decrease from $15,381,555 as of March 31, 2022, reflecting a net loss of $1,718,957 during the quarter[10] Revenue Recognition and Deferred Revenue - The Company applies ASC 606 for revenue recognition, which includes identifying contracts, performance obligations, and recognizing revenue as obligations are satisfied[32][41] - Deferred revenue represents the Company's remaining performance obligations related to prepaid support and maintenance, expected to be recognized over one to five years[46] - Deferred revenue as of June 30, 2022, was approximately $660,000, an increase from $633,000 on December 31, 2021[47] - Revenue recognized from deferred revenue for the three and six months ended June 30, 2022, was approximately $153,000 and $387,000, respectively[47] Operating Expenses - Operating expenses for the three months ended June 30, 2022, totaled $2,790,656, compared to $1,865,036 for the same period in 2021, indicating an increase of approximately 49.4%[9] - The company incurred $1,067,372 in goodwill from the acquisition of Swivel Secure, along with $762,860 in intangible assets, highlighting significant investment in growth through acquisition[18] - Share-based compensation for employees and consultants amounted to $153,370 during the same period, reflecting ongoing investment in human capital[15] - Share-based compensation expenses for the three months ended June 30, 2022, totaled $83,699, compared to $41,123 for the same period in 2021[56] Acquisition and Goodwill - The acquisition of Swivel Secure was completed for a total purchase price consideration of $2,373,487, including a cash payment of $1,273,483 and common stock valued at $600,004[49][50] - The fair value of assets acquired in the Swivel Secure acquisition totaled $3,349,371, resulting in goodwill of $1,067,372[50] - The Company has not identified any impairment to goodwill as of the latest assessment[26] - The annual goodwill impairment test will be performed as of December 31st of each year[26] Cash Flow and Financial Management - The Company generated approximately $3,888,286 in revenue during the first half of 2022, which is below its average monthly requirement of approximately $814,000[31] - Cash and cash equivalents at the end of the period were $4,893,042, down from $7,754,046 at the beginning of the period, representing a net decrease of $2,861,004[15] - Accounts receivable decreased by $390,660, indicating potential challenges in cash flow management[15] - Accounts receivable as of June 30, 2022, was $2,302,847, significantly up from $1,234,411 on December 31, 2021[55] Tax and Regulatory Matters - The Company recorded no income tax expense for the three and six months ended June 30, 2022, due to an estimated annual effective tax rate of zero[96] - The Company has a full valuation allowance against its net deferred tax assets as of June 30, 2022, indicating uncertainty in realizing these assets[97] Customer Concentration - One customer accounted for 12% of revenue for the three months ended June 30, 2022, and one customer accounted for 14% for the six months ended June 30, 2022[94]

BIO-key International, Inc. (NASDAQ:BKYI) Q2 2022 Earnings Conference Call August 12, 2022 10:00 AM ET Company Participants William Jones - Vice President, Catalyst Global LLC Michael DePasquale - Chief Executive Officer Alex Rocha - Managing Director, EMEA Cecilia Welch - Chief Financial Officer Conference Call Participants Jack Vander Aarde - Maxim Group LLC Operator Good morning, ladies and gentlemen. Thank you for standing by, and welcome to BIO-key International Second Quarter Conference Call. During m ...

U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE EXCHANGE ACT | --- | --- | |-----------------------------------------------------------------------------------|----------------------------| | For the Transition Period from | to | | Commission file number | 1-13463 | | BIO-KEY INTERNATIONAL, INC. (Exact ...

BIO-key International, Inc. (NASDAQ:BKYI) Q1 2022 Earnings Conference Call May 16, 2022 10:00 AM ET Company Participants Kimberly Johnson - Vice President, Product Mike DePasquale - Chairman and CEO Ceci Welch - CFO Conference Call Participants Jack Vander Aarde - Maxim Group Operator Good morning, ladies and gentlemen. Thank you for standing by, and welcome to BIO-key International's First Quarter 2022 Conference Call. During management's prepared remarks all participants will be a listen-only mode. Afterw ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.0001 par value per share BKYI Nasdaq Capital Market ☒ 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 FIL ...

BIO-key International, Inc. (NASDAQ:BKYI) Q4 2021 Earnings Conference Call March 29, 2022 10:00 AM ET Company Participants Kimberly Biddings - Vice President of Product Mike DePasquale - Chairman and Chief Executive Officer Alex Rocha - President, BIO-key EMEA Ceci Welch - Chief Financial Officer Conference Call Participants Jack Vander Aarde - Maxim Group Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are des ...

| --- | --- | |----------------------------------------------------------------------------------|-------| | | | | Identity & Access Management and IdentityBound Biometric Cybersecurity Solutions | | | March 2022 | | | www.BIO-key.com | | | | | | | | 2 Safe Harbor All statements contained herein other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE EXCHANGE ACT For the Transition Period from to Commission file number 1-13463 BIO-KEY INTERNATIONAL, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 41-1741861 (State or Other Jurisdiction of Incorporation of Organizati ...