Add as a preferred source on GoogleBIO-key Sees $1.2 Million in Q1 Renewals, Targets Profitability
Third-quarter license fee revenue rose 39% year over year, while gross margin climbed to 90% from 77%.
Management at BIO-key International, Inc. expects about $1.2 million in Q1 license renewals and is aiming for profitability around the same period, following third-quarter growth in license fee revenue.
License fee revenue increased 39% year over year in the third quarter. Gross margin reached 90%, up from 77% a year earlier, while the operating loss narrowed 8%. Chairman and CEO Michael DePasquale described the results as reflecting strength in the company’s core software business.
Management identified government and banking customer additions across Europe and the Middle East, a U.S. casino-resort agreement, and passkey and AI opportunities as potential sources of growth. A large hardware order was pushed back, while the company expects significant growth in Q4.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.