Company: BKYI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001437749-25-017209
Chunk: 6

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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2025 and  March 31, 2024:

       North                 March 31,  
   America    Africa    EMESA*    Asia    2025  
                     
 Services  $205,843  $64,152  $142  $2,461  $272,598 
 License fees   354,584   525,093   219,081   -   1,098,758 
 Hardware   17,852   -   188,911   29,040   235,803 
 Total Revenues  $578,279  $589,245  $408,134  $31,501  $1,607,159 

       North                 March 31,  
   America    Africa    EMESA*    Asia    2024  
                     
 Services  $191,481  $20,254  $1,387  $-  $213,122 
 License fees   519,244   1,266,553   164,637   -   1,950,434 
 Hardware   17,408   -   239   -   17,647 
 Total Revenues  $728,133  $1,286,807  $166,263  $-  $2,181,203 

   *EMESA – Europe, Middle East, South America

       9

   Deferred Revenue 
    
   Deferred revenue includes customer advances and amounts that have been paid by customer for which the contractual maintenance terms have not yet occurred. The majority of these amounts are related to maintenance contracts for which the revenue is recognized ratably over the applicable term, which generally is 12-60 months. Contracts greater than 12 months are segregated as long term deferred revenue. Maintenance contracts include provisions for unspecified when-and-if available product updates and customer telephone support services. At  March 31, 2025 and  December 31, 2024, amounts in deferred revenue were approximately $1,065,000 and $485,000, respectively. Revenue recognized during the three months ended  March 31, 2025 from amounts included in deferred revenue at the beginning of the period was approximately $200,000.