BIO-key International reported first-quarter 2026 revenue of approximately 2.15 million dollars, a 34 percent increase from about 1.61 million dollars in the same quarter of 2025, and said it expects to return to profitability in the second quarter. The company narrowed its net loss to roughly 165,000 dollars, or 15 cents per share, from a loss of about 737,000 dollars, or 1.57 dollars per share, a year earlier, figures that reflect a one-for-ten reverse stock split.
BIO-key attributed the improvement to sales, marketing, and customer-development work and to wider adoption of its biometric identity and access management products. Chief Executive Officer Michael DePasquale said the quarter reflected the benefit of those initiatives combined with growing global appreciation for the value of biometric identity. Blended gross margin for the quarter was 82.5 percent, and the company reported a cash position of about 2.24 million dollars as of March 31.
Among the period’s identity wins, the company highlighted a 1.04 million dollar one-year renewal of a biometric identity license with a foreign bank, on expanded scope. BIO-key also said it has surpassed 2 million dollars in military and defense sales over the trailing twelve months, with the first quarter including roughly 450,000 dollars in follow-on orders from a foreign defense ministry. The defense total builds on a follow-on order disclosed earlier this year that pushed cumulative defense sales past the 2 million dollar mark.
The company described a multi-year agreement with Sociedade Interbancaria de Mocambique (SIMO), the operator of Mozambique’s national electronic payments network, which it counts as its eleventh financial-services customer worldwide. That deal extends a pattern of financial-services adoption the company has been tracking across its customer base.
For the second quarter, BIO-key guided to revenue of approximately 2.8 million dollars, a 65 percent increase over the second quarter of 2025, and said it expects to be profitable in the period. It projected first-half 2026 revenue of about 5 million dollars, a 50 percent increase over the first half of 2025. The figures follow a period in which the company reported 49 percent revenue growth in a prior quarter alongside a European defense expansion effort. The company discussed the results on an investor call.
Sources: GlobeNewswire, BIO-key International
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By the ID Tech Editorial Team
