Company: BKYI
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001437749-25-012824
Chunk: 769

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1
Chunk 769
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 for the Company for annual periods, including interim periods within those annual periods, beginning on  January 1, 2023. The Company has adopted the accounting standard.

   NOTE B—REVENUE FROM CONTRACTS WITH CUSTOMERS
    
   Disaggregation of Revenue
    
   The following table summarizes revenue from contracts with customers for the years ended  December 31, 2024 and 2023:

       North                December 31,  
   America    Africa    EMESA*    Asia    2024  
                     
 License fees  $2,410,624  $1,490,256  $1,282,176  $6,314  $5,189,370 
 Hardware   154,931   -   391,764   85,000   631,695 
 Services   898,686   162,467   47,353       1,108,506 
 Total revenues  $3,464,241  $1,652,723  $1,721,293  $91,314  $6,929,571 

       53

       North                December 31,  
   America    Africa    EMESA*    Asia    2023  
                     
 License fees  $1,971,348  $552,630  $1,801,381  $16,651  $4,342,010 
 Hardware   147,815   0   1,013,295   32,900   1,194,010 
 Services   1,116,935   101,816   981,848   18,286   2,218,885 
 Total revenues  $3,236,097  $654,446  $3,796,524  $67,837  $7,754,905 

   * EMESA – Europe, Middle East, South America
    
   Revenue recognized during the year ended  December 31, 2024 from amounts included in deferred revenue at the beginning of the year was approximately $508,000. Revenue recognized during the year ended  December 31, 2023 from amounts included in deferred revenue at the beginning of the year was