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BIO-key International, Inc. (BKYI) 10-Year Financial Performance & Capital Metrics

BKYI • • Industrial / General
IndustrialsSecurity ServicesBiometric & Identity SolutionsBiometric Authentication
AboutBIO-key International, Inc. develops and markets fingerprint identification biometric technology and software solutions, and enterprise-ready identity access management solutions for commercial, government, and education customers in the United States and internationally. The company offers BIO-key PortalGuard and PortalGuard IDaaS solutions, a customer-controlled and neutral-by-design cloud-based identity platform that allows customers to integrate with any cloud or on-premises SaaS application, as well as windows device authentication through IAM platform. Its solutions enable its customers to secure their workforces and student populations; and make their partner networks more collaborative. In addition, it provides BIO-key VST and WEB-key products; and Civil and Large-Scale ID Infrastructure solutions that develops finger-based biometric technology. Further, it offers finger scanners for enterprise and consumer markets under SideSwipe, EcoID, and SidePass brand names. The company was formerly known as SAC Technologies and changed its name to BIO-key International, Inc. in 2002. BIO-key International, Inc. was founded in 1993 and is headquartered in Wall, New Jersey.Show more
  • Revenue $7M -10.6%
  • EBITDA -$4M +57.1%
  • Net Income -$4M +49.5%
  • EPS (Diluted) -1.11 +92.7%
  • Gross Margin 81.39% +341.0%
  • EBITDA Margin -50.99% +52.0%
  • Operating Margin -57.88% +49.1%
  • Net Margin -62.06% +43.5%
  • ROE -177.88% +33.6%
  • ROIC -99.79% +48.6%
  • Debt/Equity 0.47 +37.2%
  • Interest Coverage -13.38 +66.9%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 25.0%
  • ✓Trading at only 0.6x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 12 (bottom 12%)
  • ✗Shares diluted 100.0% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.63%
5Y25.03%
3Y10.65%
TTM-1.19%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM51.19%

EPS CAGR

10Y-
5Y-
3Y-
TTM86.04%

ROCE

10Y Avg-101.36%
5Y Avg-113.85%
3Y Avg-162.2%
Latest-149.51%

Peer Comparison

Biometric Authentication
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Growth
Profitability
Quality & Returns
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TTM Growth
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Momentum & Returns
Total Return (DRIP)
Technical
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
BKYIBIO-key International, Inc.6.72M0.62-0.56-10.64%-70.23%-73.38%0.47

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+5.26M2.98M6.3M4.04M2.27M2.84M5.11M7.02M7.75M6.93M
Revenue Growth %0.31%-0.43%1.12%-0.36%-0.44%0.25%0.8%0.37%0.1%-0.11%
Cost of Goods Sold+1.28M729.68K6.48M4.16M2.46M794.83K1.67M2.44M6.32M1.29M
COGS % of Revenue0.24%0.25%1.03%1.03%1.09%0.28%0.33%0.35%0.82%0.19%
Gross Profit+3.98M2.25M-181.32K-119.65K-193.72K2.04M3.44M4.58M1.43M5.64M
Gross Margin %0.76%0.75%-0.03%-0.03%-0.09%0.72%0.67%0.65%0.18%0.81%
Gross Profit Growth %0.22%-0.44%-1.08%0.34%-0.62%11.54%0.69%0.33%-0.69%2.94%
Operating Expenses+5.68M6.45M7.34M6.75M13.33M7.25M8.38M14.5M10.26M9.65M
OpEx % of Revenue1.08%2.17%1.16%1.67%5.88%2.55%1.64%2.07%1.32%1.39%
Selling, General & Admin4.12M4.44M5.68M5.33M5.04M5.85M6.03M9.36M7.86M7.14M
SG&A % of Revenue0.78%1.49%0.9%1.32%2.22%2.06%1.18%1.33%1.01%1.03%
Research & Development1.56M2.01M1.66M1.42M1.33M1.4M2.36M3.25M2.39M2.51M
R&D % of Revenue0.3%0.68%0.26%0.35%0.59%0.49%0.46%0.46%0.31%0.36%
Other Operating Expenses00006.96M001.89M00
Operating Income+-1.7M-4.2M-4.28M-6.87M-13.52M-5.2M-4.94M-9.92M-8.83M-4.01M
Operating Margin %-0.32%-1.41%-0.68%-1.7%-5.96%-1.83%-0.97%-1.41%-1.14%-0.58%
Operating Income Growth %0.17%-1.48%-0.02%-0.61%-0.97%0.62%0.05%-1.01%0.11%0.55%
EBITDA+-1.64M-4.14M-2.7M-5.13M-12.51M-4.78M-4.43M-9.38M-8.24M-3.53M
EBITDA Margin %-0.31%-1.39%-0.43%-1.27%-5.52%-1.68%-0.87%-1.34%-1.06%-0.51%
EBITDA Growth %0.17%-1.53%0.35%-0.9%-1.44%0.62%0.07%-1.12%0.12%0.57%
D&A (Non-Cash Add-back)56.6K62.64K1.58M1.74M1M426.91K514.07K546.01K590.14K477.53K
EBIT-1.67M-4.2M-4.28M-6.87M-13.52M-5.33M-5.05M-11.92M-8.44M-4.02M
Net Interest Income+-192.19K302780-1.07M-4.31M-13.93K-10.23K-206.74K-299.64K
Interest Income1430278015430.65K4.08K23311.53K110
Interest Expense192.2K0001.07M4.34M18K10.46K218.27K299.75K
Other Income/Expense-160.13K12.12K2780-1.07M-4.47M-123.92K-2.01M170.47K-312.65K
Pretax Income+-1.86M-4.19M-4.28M-6.87M-14.59M-9.67M-5.07M-11.93M-8.66M-4.32M
Pretax Margin %-0.35%-1.41%-0.68%-1.7%-6.43%-3.41%-0.99%-1.7%-1.12%-0.62%
Income Tax+9129120160000-20.43K-134.01K-23K
Effective Tax Rate %1%1%1%1%1%1%1%1%0.98%0.99%
Net Income+-1.86M-4.19M-4.28M-6.87M-14.59M-9.67M-5.07M-11.91M-8.52M-4.3M
Net Margin %-0.35%-1.41%-0.68%-1.7%-6.43%-3.41%-0.99%-1.7%-1.1%-0.62%
Net Income Growth %0.01%-1.26%-0.02%-0.61%-1.12%0.34%0.48%-1.35%0.28%0.5%
Net Income (Continuing)-1.86M-4.19M-4.28M-6.87M-14.59M-9.67M-5.07M-11.91M-8.52M-4.3M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+-48.60-107.98-92.74-85.21-148.35-31.47-11.70-26.46-15.21-1.11
EPS Growth %0.12%-1.22%0.14%0.08%-0.74%0.79%0.63%-1.26%0.43%0.93%
EPS (Basic)-48.60-107.98-92.74-85.21-148.35-31.47-11.70-26.46-15.21-1.11
Diluted Shares Outstanding38.21K38.8K46.1K80.61K98.78K431.81K432.87K450.04K560.28K3.87M
Basic Shares Outstanding38.21K38.8K46.1K80.61K98.78K431.81K432.87K450.04K560.28K3.87M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+13.2M4.91M7.01M4.23M1.37M18.94M14.01M8.98M2.62M1.89M
Cash & Short-Term Investments4.32M1.06M288.72K323.94K591.83K17.51M7.75M2.64M511.4K437.6K
Cash Only4.32M1.06M288.72K323.94K79.01K16.99M7.75M2.64M511.4K437.6K
Short-Term Investments0000512.82K512.82K0000
Accounts Receivable3.43M1.62M2.99M1.63M236.94K903.5K1.1M1.57M1.3M792.4K
Days Sales Outstanding237.88198.32172.91147.1638.14116.2578.6581.7561.2341.74
Inventory348.64K465.43K946.85K998.83K429.12K330.95K4.94M4.43M445.74K378.31K
Days Inventory Outstanding99.46232.8253.387.5563.64151.981.08K663.4525.73107.09
Other Current Assets5M1.56M2.64M1.13M000342.71K364.17K278.65K
Total Non-Current Assets+7.22M12.38M9.06M7.46M1.13M3.58M3.76M2.36M1.89M6.73M
Property, Plant & Equipment63.88K67.81K181.16K148.61K661.99K569.12K323.27K304.77K257.08K213.57K
Fixed Asset Turnover82.36x43.88x34.79x27.22x3.43x4.98x15.82x23.03x30.17x32.45x
Goodwill000001.26M1.26M000
Intangible Assets7.15M10.73M8.11M6.99M228.19K1.57M1.35M1.76M1.41M1.1M
Long-Term Investments01.57M760K000452.82K005M
Other Non-Current Assets8.71K1.58M768.71K327.91K240.23K174.03K370.72K291.78K229.81K417.4K
Total Assets+20.42M17.29M16.08M11.69M2.5M22.52M17.77M11.34M4.52M8.62M
Asset Turnover0.26x0.17x0.39x0.35x0.91x0.13x0.29x0.62x1.72x0.80x
Asset Growth %8.88%-0.15%-0.07%-0.27%-0.79%8.02%-0.21%-0.36%-0.6%0.91%
Total Current Liabilities+2.27M1.84M2.33M1.23M4.39M1.88M2M5.46M3.21M4.55M
Accounts Payable1.16M466.84K499.23K481.27K919.29K244.16K427.77K1.11M1.32M818.19K
Days Payables Outstanding330.49233.5228.142.18136.33112.1293.33165.8275.96231.61
Short-Term Debt00002.26M232K02.72M138.73K1.66M
Deferred Revenue (Current)376.4K633.06K507.87K196.61K359.21K657.35K565.36K462.42K414.97K773.27K
Other Current Liabilities490.94K489.06K812.41K169.93K337.1K194.32K254.43K377.96K375.39K-55.99K
Current Ratio5.82x2.67x3.02x3.45x0.31x10.10x7.01x1.65x0.82x0.41x
Quick Ratio5.67x2.42x2.61x2.63x0.21x9.92x4.54x0.83x0.68x0.33x
Cash Conversion Cycle6.84197.62198.1192.53-34.55156.111.06K579.3810.99-82.78
Total Non-Current Liabilities+0000390.47K309.15K154.27K587.01K240.08K289.99K
Long-Term Debt0000000326.77K188.79K44.76K
Capital Lease Obligations0000390.47K264.16K86.97K37.83K048.99K
Deferred Tax Liabilities00000-44.99K0170.28K23K0
Other Non-Current Liabilities0000044.99K0000
Total Liabilities2.27M1.84M2.33M1.23M4.78M2.19M2.15M6.04M3.45M4.84M
Total Debt+00002.82M730.47K264.16K3.24M365.35K1.78M
Net Debt-4.32M-1.06M-288.72K-323.94K2.74M-16.26M-7.49M604.94K-146.05K1.34M
Debt / Equity-----0.04x0.02x0.61x0.34x0.47x
Debt / EBITDA----------
Net Debt / EBITDA----------
Interest Coverage-8.82x----12.65x-1.20x-274.55x-948.54x-40.44x-13.38x
Total Equity+18.15M15.45M13.75M10.47M-2.29M20.34M15.62M5.3M1.06M3.77M
Equity Growth %22.91%-0.15%-0.11%-0.24%-1.22%9.9%-0.23%-0.66%-0.8%2.55%
Book Value per Share474.97398.28298.34129.84-23.1447.0936.0711.781.900.98
Total Shareholders' Equity18.15M15.45M13.75M10.47M-2.29M20.34M15.62M5.3M1.06M3.77M
Common Stock6.61K6097691.4K1.44K78278655103372
Retained Earnings-58.61M-62.8M-67.08M-75.13M-89.72M-99.51M-104.58M-116.49M-125.01M-129.31M
Treasury Stock0000000000
Accumulated OCI-557.38K-553.13K-605.84K-690.45K000-242.6K22.82K49.29K
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-15.56M-4.45M-2.47M-1.61M-1.85M-4.95M-8.98M-6.23M-3.79M-2.91M
Operating CF Margin %-2.96%-1.49%-0.39%-0.4%-0.82%-1.74%-1.76%-0.89%-0.49%-0.42%
Operating CF Growth %-5.22%0.71%0.45%0.35%-0.15%-1.68%-0.81%0.31%0.39%0.23%
Net Income-1.86M-4.19M-4.28M-6.87M-14.59M-9.67M-5.07M-11.91M-8.52M-4.3M
Depreciation & Amortization56.6K62.64K1.58M1.61M1M426.91K514.07K546.01K590.14K477.53K
Stock-Based Compensation324.12K427.84K940.73K980.22K947.72K792.1K314.71K387.91K265.73K243.25K
Deferred Taxes-37.88K-179.09K500K720K00410K-20.43K-134.01K-23K
Other Non-Cash Items109.2K167K32.03K123.17K8.66M4.88M128.68K5.07M4.25M-8.04K
Working Capital Changes-14.15M-735.53K-1.24M1.82M2.13M-1.38M-5.28M-299.02K-244.07K696.88K
Change in Receivables-2.72M258.16K-1M1.34M829.41K-186.77K-672.58K-339.38K-478.56K880.98K
Change in Inventory-336.82K-116.78K-481.42K-51.98K569.71K98.17K-4.61M106.29K402.13K280.44K
Change in Payables811.24K-691.71K32.39K-17.96K438.02K-600.4K183.61K239.14K57.73K-502.99K
Cash from Investing+-3.36K-52.98K-226.76K-82.46K-543.31K-2.23M-42.02K-696.62K-1K-13.05K
Capital Expenditures-3.36K-52.98K-226.76K-82.46K-30.49K-35.57K-42.02K-82.04K-1K-13.05K
CapEx % of Revenue0%0.02%0.04%0.02%0.01%0.01%0.01%0.01%0%0%
Acquisitions----------
Investments----------
Other Investing00-60.7K-30.4K0-295K0-614.58M00
Cash from Financing+19.04M1.24M1.92M1.73M2.15M24.09M-218.6K1.9M1.43M2.83M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0-535.1K-630.41K0000000
Share Repurchases----------
Other Financing-459.1K-84.87K550.04K-143.94K-361.27K2.91M-5.23K-155.14K17.8K0
Net Change in Cash----------
Free Cash Flow+-15.56M-4.5M-2.69M-1.7M-1.88M-4.99M-9.02M-6.31M-3.79M-2.93M
FCF Margin %-2.96%-1.51%-0.43%-0.42%-0.83%-1.76%-1.76%-0.9%-0.49%-0.42%
FCF Growth %-5.17%0.71%0.4%0.37%-0.11%-1.65%-0.81%0.3%0.4%0.23%
FCF per Share-407.28-115.98-58.40-21.04-19.04-11.55-20.84-14.02-6.77-0.76
FCF Conversion (FCF/Net Income)8.38x1.06x0.58x0.23x0.13x0.51x1.77x0.52x0.45x0.68x
Interest Paid000072.82K0010.46K00
Taxes Paid000000025.68K00

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-19.64%-24.94%-29.28%-56.72%-356.65%-107.19%-28.18%-113.88%-267.77%-177.88%
Return on Invested Capital (ROIC)-18.5%-22.33%-23.02%-43.65%-191.41%-172.49%-60.77%-106.08%-194.01%-99.79%
Gross Margin75.68%75.48%-2.88%-2.96%-8.54%71.98%67.29%65.25%18.46%81.39%
Net Margin-35.3%-140.79%-67.83%-169.83%-643.37%-341.02%-99.05%-169.65%-109.89%-62.06%
Debt / Equity-----0.04x0.02x0.61x0.34x0.47x
Interest Coverage-8.82x----12.65x-1.20x-274.55x-948.54x-40.44x-13.38x
FCF Conversion8.38x1.06x0.58x0.23x0.13x0.51x1.77x0.52x0.45x0.68x
Revenue Growth31.34%-43.44%111.81%-35.83%-43.94%25.1%80.29%37.26%10.46%-10.64%

Revenue by Segment

2018201920202021202220232024
License-----4.34M5.19M
License Growth------19.52%
Service1.01M925.25K---2.22M1.11M
Service Growth--8.62%-----50.04%
Hardware----646.49K1.19M631.7K
Hardware Growth-----84.69%-47.09%
License Fees and Other1.74M------
License Fees and Other Growth-------

Revenue by Geography

2018201920202021202220232024
North America115.97K14.03K1.3M1.16M422.27K3.24M3.46M
North America Growth--87.90%9142.31%-10.35%-63.68%666.35%7.05%
EMESA-----3.8M1.72M
EMESA Growth-------54.66%
Africa------1.65M
Africa Growth-------
Asia27.32K4K23.11K13.91K-67.84K91.31K
Asia Growth--85.36%477.70%-39.80%--34.61%
South America6658.51K18.3K42K-654.45K-
South America Growth-1180.30%114.94%129.51%---
EMEA2K3K94.12K54.92K---
EMEA Growth-50.00%3037.47%-41.65%---

Frequently Asked Questions

Growth & Financials

BIO-key International, Inc. (BKYI) reported $6.3M in revenue for fiscal year 2024. This represents a 80% increase from $3.5M in 2011.

BIO-key International, Inc. (BKYI) saw revenue decline by 10.6% over the past year.

BIO-key International, Inc. (BKYI) reported a net loss of $4.4M for fiscal year 2024.

Dividend & Returns

BIO-key International, Inc. (BKYI) has a return on equity (ROE) of -177.9%. Negative ROE indicates the company is unprofitable.

BIO-key International, Inc. (BKYI) had negative free cash flow of $3.4M in fiscal year 2024, likely due to heavy capital investments.

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