BIO-key Fiscal Results Show Higher Revenues

BIO-key has issued its corporate results for Q4 and the year-end of 2015, and is showing gains in revenues and reductions in net losses.

BIO-key Fiscal Results Show Higher RevenuesCompared to Q4 of 2014, the company’s fourth quarter revenues were up 75 percent, reaching a value of $1,669,749. And for the year, revenues increased by about 31 percent against 2014, reaching $5,261,225. In a statement, the company attributed these gains largely to growth in licensing agreements as well as hardware sales.

Meanwhile, BIO-key’s net losses are decreasing. Its Q4 net loss decreased to $423,490, compared to $546,648 in Q4 of 2014; and its net loss for the year shrank from $1,883,572 in 2014 to $1,857,306 in 2015.

Looking ahead, the company expects revenues between $7 million and $9.5 million, thanks in part to the company’s partnership with Microsoft, which could encourage enterprise adoption of its fingerprint readers given their compatibility with the Windows Hello biometric security apparatus. The company also expects more business in the Asian markets, and in healthcare, digital commerce, and other sectors as market appetites for biometric technology continue to grow.

March 30, 2016 – by Alex Perala