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BIO-key International, Inc. (the Company, BIO-key, we, or us ) is a leading identity and access management (IAM) platform provider enabling secure work-from-anywhere for enterprise, education, and government customers using secure multi-factor authentication (MFA). Our vision is to enable any organization to secure streamlined and passwordless workforce, customer, citizen and student access to …
The business is unprofitable at the operating level (-57.88% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 10.6% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$3M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$6M
▼ -10.6% YoY
Net Income (TTM)
-$4M
▲ +49.5% YoY
Op. Margin
-61.50%
▲ +55.9pp YoY
ROIC
-49.44%
▲ +20.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▲ +22.9% YoY
Op. Cash Flow (TTM)
-$3M
▲ +23.2% YoY
Net Debt
-$2M
Net Cash Position
Cash & Equiv.
$2M
5Y CAGR: +25.0%
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