BIO KEY INTERNATIONAL INC (BKYI) Jun 2024 Earnings Report
BIO-key International, Inc.: Investment Report
Overview
BIO-key International, Inc. is a pioneering biometric technology company that has been at the forefront of identity and access management solutions for over three decades. With a strong presence in the security and protection services industry, BIO-key has developed a robust suite of products and services that cater to a diverse range of clients, from commercial and government entities to educational institutions. This report provides a comprehensive analysis of BIO-key's current market position, financial performance, growth prospects, and news updates that are likely to impact the stock price.
Core Metrics
- Current price: $1.86 USD
- 52-week high: $14.4 USD
- 52-week low: $1.48 USD
- Market Cap: $3.37 million USD
- P/E Ratio: N/A (due to negative EPS)
- Earnings per Share: -$15.21
- 50-day average: $1.7514
- 200-day average: $3.5107
- Analyst Recommendations: Buy (1 analyst)
Financial Performance
BIO-key's financial performance has been challenging, with a significant decline in revenue growth (-0.293) and negative EBITDA margins (-0.92099). The company's EPS is also in the red, at -$15.21. However, the company has a decent cash reserve of $690,449 and a free cash flow of $3,248,687. The operating cash flow is a negative $1,567,561, indicating a need for improvement in this area.
Growth Prospects
Despite the current challenges, BIO-key has been actively innovating and expanding its product offerings. The recent introduction of Passkey:YOU, a phish-resistant, phoneless, and tokenless biometric FIDO Passkey authentication solution, demonstrates the company's commitment to innovation and growth. The company's focus on identity and access management solutions, coupled with its strong presence in the security and protection services industry, positions it well for future growth opportunities.
News and Updates
Recent news articles highlight the company's efforts to improve its financial performance and growth prospects. The Q1 2024 earnings report revealed revenue of $925,101, which was 70.63% below analyst estimates. However, the company is hosting an investor call on June 18th to discuss its Q1 results, which may provide further insights into its growth strategy. Additionally, the introduction of Passkey:YOU and the company's participation in industry conferences and events demonstrate its commitment to innovation and growth.
Upgrades and Downgrades
There have been no recent upgrades or downgrades to report.
Summary
BIO-key International, Inc. is a biometric technology company with a strong presence in the security and protection services industry. While the company faces challenges in its financial performance, its commitment to innovation and growth in identity and access management solutions positions it well for future opportunities. Investors should carefully consider the company's financials, growth prospects, and news updates before making investment decisions.
Disclosures
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