Company: BKYI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001437749-25-035227
Chunk: 26

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 period in 2024.

For the three months ended September 30, 2025, license revenue decreased $523,060 or 36% to $917,951 from $1,441,011 in the corresponding period in 2024, as several long-term customers expanded their license deployments in the corresponding period in 2024. 

For the three months ended September 30, 2025, hardware sales decreased 17% to $363,642 from $436,422 in the corresponding period in 2024. The decrease was one new customer large deploy, several new customer deploys of fully reserved inventory in the 2025 period, and to one long-term customer expanding its purchase of biometric cybersecurity solutions in the 2024 period. 

Costs and other expenses

For the three months ended September 30, 2025, cost of service decreased $30,021 or 27% to $80,702 from $110,723 in the three months ended September 30, 2024, due to an upgrade for one large customer for the 2024 period. For the three months ended September 30, 2025, license fees decreased to $74,077 from $146,732 in the three months ended September 30, 2024, due to the absence of license fees for third-party software included in our previous Swivel Secure product offerings. For the three months ended September 30, 2025, hardware costs decreased to net cost of $203,209 (after giving effect to the $231,625 reversal of the reserve for inventory) from $207,655 in the three months ended September 30, 2024, for a net decrease of 2%

Selling, general and administrative

      Three Months Ended 

      September 30, 

      2025 

      2024 

      $ Change 

      % Change 

      Selling, general and administrative 
      
     $
     1,400,288

     $
     1,607,925

     $
     (207,637
     )

     -13
     %

Selling, general and administrative expenses for the three months ended September 30, 2025, decreased 13% from $1,607,925 in the corresponding period in 2024 to $1,400,288 in the current quarter.  The decreases included reductions in administration and professional services fees, and