Company: BKYI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001437749-25-026549
Chunk: 49

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 49
---
,793

     8
     %

For the three months ended June 30, 2025, research, development, and engineering costs increased 8% to $636,027 compared to $591,234 in the corresponding period in 2024. The increase consisted primarily of professional services and personnel costs, offset by a decrease in rent costs.

Other income (expense)

      Three Months Ended 

      June 30, 

      2025 

      2024 

      $ Change 

      % Change 

      Interest income 
      
     $
     2,092

     $
     46

     $
     2,046

     4448
     %

      Loan fee amortization 

     (60,000
     )

     (4,000
     )

     (56,000
     )

     -93
     %

      Interest expense 

     (25,638
     )

     (8,910
     )

     (16,728
     )

     -188
     %

      Other income (expense) 
      
     $
     (83,546
     )
      
     $
     (12,864
     )
      
     $
     (70,682
     )

     -549
     %

Other income (expense) for the three months ended June 30, 2025 consisted of interest income of $2,092, interest expense of $25,638 on the note payable and the government loan through the BBVA bank, and a loan fee amortization amount of $60,000. Other income (expense) for the three months ended June 30, 2024 consisted of interest income of $46 and interest expense of $8,910 comprised of approximately $1,400 on the government loan through the BBVA bank and the balance on the 2024 Note, and a loan fee amortization amount of $4,000.

       19

Six MONTHS ENDED June 30, 2025 AS COMPARED TO June 30, 2024

Consolidated Results of Operations - Percent Trend

      Six Months Ended June 30, 

      2025 

      2024 

      Revenues 

      Services 

     18
     %

     15
     %

      License fees 

     58
     %

     82
     %

      Hardware 

     24
     %

     3