NASDAQ$BKYI
Bio-key International Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
BIO-key reported Q3 revenue and cash position, highlighting the impact of the PortalGuard acquisition and progress in African contracts.
BIO-key reported a significant increase in Q3 revenue, driven by the acquisition of PortalGuard, and ended the quarter with a strong cash position due to a public offering. The company is also seeing progress in its African contracts and expects continued improvement in Q4.
- BIO-key's Q3 revenue more than doubled year-over-year to $943K, driven by the PortalGuard acquisition.
- The company ended Q3 with $18.4M in cash following a $24.8 million public offering.
- PortalGuard saw strong traction, particularly within higher education institutions.
- Initial progress was made on large projects in Nigeria, with anticipated orders expected in Q4.
Headline financials
Revenue & EPS history
Bio-key · Revenue · Quarterly
$943K
Revenue by segment
Bio-key · $943K total across 3 segments · Q3 2020
- License Fees$555K—58.8%
- Hardware$226K—24.0%
- Services$162K—17.2%
Forward guidance
BIO-key expects Q4 performance to continue to improve from Q3 levels, with continued momentum into FY 2021.
Tailwinds
- Continued momentum into FY 2021.
- Expected orders of $650K for an initial deployment in Africa in Q4.
- Normalization of business activity following COVID-19 related challenges.
- First contract in Nigeria is an approximate $45M project.
- Building out BIO-key Africa subsidiary to support growth objectives.
Headwinds
- Lingering business development challenges posed by the COVID-19 pandemic.
- Projects in Nigeria have been delayed due to the COVID-19 pandemic, and more recently some civil unrest.
- Civil unrest in Nigeria.
- Economic disruption from the pandemic.
- Telecommunications project in Africa is now slated to start in 2021 instead of Q4 2020.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2020
-3.5%
Avg return
Earnings day
-5.3%
Avg return
5 days after
-8.9%
Avg return
30 days after
25%
16 / 63 earnings
Positive
+15.9%
Q1 2017
Best reaction
-25.9%
Q3 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.7% | — | — | |
| Q3 2025 | -2.2% | -4.1% | -27.8% | |
| Q1 2025 | -6.0% | -2.5% | -2.5% | |
| Q2 2025 | -1.3% | -3.7% | -4.9% | |
| Q4 2024 | -23.6% | +2.4% | -6.0% | |
| Q3 2024 | -8.7% | -16.5% | -5.8% | |
| Q2 2024 | -12.0% | -12.0% | +8.5% | |
| Q1 2024 | -11.8% | -10.0% | +5.9% | |
| Q4 2025 | -4.1% | -9.5% | -15.0% | |
| Q4 2023 | -4.8% | -13.8% | -19.0% | |
| Q3 2023 | -10.6% | -15.8% | -10.5% | |
| Q2 2023 | -10.0% | -10.0% | -27.1% | |
| Q1 2023 | +5.3% | +21.5% | +13.8% | |
| Q4 2022 | -3.0% | +8.2% | -9.6% | |
| Q3 2022 | -17.4% | -27.1% | -45.1% | |
| Q2 2022 | -17.0% | -22.6% | -27.6% | |
| Q1 2022 | -2.0% | -6.0% | -17.9% | |
| Q4 2021 | -3.2% | -6.0% | -14.0% | |
| Q3 2021 | -8.2% | -10.8% | -27.5% | |
| Q2 2021 | -7.4% | -5.5% | +3.5% | |
| Q1 2021 | +6.1% | +8.4% | +32.3% | |
| Q4 2020 | +2.9% | -0.9% | -2.6% | |
| Q3 2020 | -8.7% | -4.4% | -3.3% | |
| Q2 2020 | +1.1% | -1.4% | -36.5% | |
| Q4 2019 | -24.2% | -20.7% | -9.8% | |
| Q3 2019 | -9.2% | -12.1% | +0.0% | |
| Q2 2019 | +1.8% | -6.8% | -29.5% | |
| Q1 2019 | -6.2% | -16.9% | -13.1% | |
| Q4 2018 | -6.8% | -4.8% | -9.5% | |
| Q3 2018 | +11.1% | +9.3% | +13.9% | |
| Q2 2018 | -2.2% | -2.2% | -10.4% | |
| Q1 2018 | -11.0% | -1.3% | -0.9% | |
| Q4 2017 | -6.5% | +2.0% | +7.6% | |
| Q3 2017 | -10.8% | -6.1% | -29.1% | |
| Q2 2017 | -3.1% | -4.3% | -10.6% | |
| Q1 2017 | +15.9% | +22.0% | +17.5% | |
| Q4 2016 | -7.8% | -5.1% | -14.1% | |
| Q3 2016 | -25.9% | -7.4% | -18.5% | |
| Q2 2016 | +0.0% | -4.2% | +8.3% | |
| Q1 2016 | -5.9% | — | — | |
| Q4 2015 | +0.0% | — | — | |
| Q3 2015 | +0.0% | — | — | |
| Q2 2015 | +5.6% | — | — | |
| Q1 2015 | +0.0% | — | — | |
| Q4 2014 | +0.0% | — | — | |
| Q3 2014 | +0.0% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q1 2014 | -3.7% | — | — | |
| Q4 2013 | +7.7% | — | — | |
| Q3 2013 | -10.5% | — | — | |
| Q2 2013 | +3.0% | — | — | |
| Q1 2013 | +9.1% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2012 | +14.3% | — | — | |
| Q1 2012 | +14.3% | — | — | |
| Q4 2011 | -9.1% | — | — | |
| Q3 2010 | -15.4% | — | — | |
| Q3 2011 | -15.4% | — | — | |
| Q2 2010 | +9.1% | — | — | |
| Q2 2011 | +9.1% | — | — | |
| Q1 2011 | -6.7% | — | — | |
| Q4 2010 | +0.0% | — | — | |
| Q1 2010 | +0.0% | — | — |
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