BIO-key GAAP EPS of -$0.21, revenue of $1.9M
Aug. 12, 2022 9:44 AM ETBIO-key International, Inc. (BKYI)By: Deepa Sarvaiya, SA News Editor
BIO-key press release (NASDAQ:BKYI): Q2 GAAP EPS of -$0.21.
Revenue of $1.9M (+91.9% Y/Y).
Outlook
“BIO-key has built a strong base of products and services and a growing global footprint of partnerships and direct sales resources to address the substantial cybersecurity and IAM needs around the world. Given our progress to date and the growing scope of opportunities we are identifying, we remain confident in achieving our full-year 2022 revenue guidance of $10-13M, representing growth of over 100% above 2021. We believe BIO-key is positioned to achieve break-even operations within this range, subject to our mix of hardware and higher-margin software revenue.
“Our guidance anticipates continued growth in recurring software license revenue to roughly 70% of the lower end of our revenue range, supported by hardware and services revenue contributions that are generally tied to specific projects. Our outlook is supported by our strong capital position, talented management and product development teams, and our expanding global sales, marketing and channel partner footprint.”
Now Read: BIO-key International, Inc. (BKYI) CEO Mike DePasquale on Q1 2022 Results - Earnings Call Transcript
