Company: BKYI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001437749-25-035227
Chunk: 62

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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      % Change 

      Revenues 

      Service 
      
     $
     862,707

     $
     764,062

     $
     98,645

     13
     %

      License 

     2,822,796

     4,165,669

     (1,342,873
     )

     -32
     %

      Hardware 

     1,168,269

     537,562

     630,707

     117
     %

      Total Revenue 
      
     $
     4,853,772

     $
     5,467,293

     $
     (613,521
     )

     -11
     %

      Cost of Goods Sold 

      Service 

     297,147

     322,957

     (25,810
     )

     -8
     %

      License 

     233,450

     443,384

     (209,934
     )

     -47
     %

      Hardware 

     1,080,109

     260,684

     819,425

     314
     %

      Hardware - reserve 

     (509,040
     )

     -

     (509,040
     )
      
     100
     %

      Total COGS 
      
     $
     1,101,666

     $
     1,027,025

     $
     74,641

     7
     %

       21

Revenues

For the nine months ended September 30, 2025, and 2024, service revenues included approximately $799,000 and $681,000, respectively, of recurring maintenance and support revenue, and approximately $64,000 and $83,000 respectively, of non-recurring custom services revenue. Recurring service revenue increased approximately $117,000 or 17% in 2025 which was due to the updated support for a large customer service agreement. Non-recurring custom services decreased 22% due to an upgrade for one large customer in 2024. Overall, service revenues increased 13% to $862,707 from $764,062 in the corresponding period in 2024.

For the nine months ended September 30, 2025, license revenue decreased $1,342,873 or 32% to $2,822,796 from $4,165,669 in