BIO-Key beats earnings estimates, revenue lags forecasts

BIO-Key International Inc. reported adjusted earnings per share that exceeded Wall Street estimates, though revenue fell short of forecasts in its latest quarterly results.

The biometric identification and security solutions provider posted adjusted EPS of $0.24, surpassing the $0.00 consensus estimate compiled by Refinitiv. Revenue, however, totaled $12.1 million, missing the $12.8 million estimate by 5.5%.

Net loss for the period narrowed to $1.2 million from $2.3 million in the same quarter a year earlier, reflecting improved operational efficiency despite the revenue shortfall. The company attributed the revenue miss to slower-than-expected demand in its enterprise and government segments, which offset gains in its healthcare vertical.

BIO-Key’s management reaffirmed its full-year guidance, citing strong pipeline activity and contract renewals as key drivers for sustained growth. The company has not provided a revised revenue outlook following the quarterly results.

Shares of BIO-Key were down 3.2% in extended trading after the announcement, extending losses from the regular session where the stock fell 1.8% to close at $1.65.