BIO KEY INTERNATIONAL INC

BIO-key International reported a significant improvement in its first-quarter 2026 financial results, with total revenues increasing by 33.5% to $2.15 million and net loss narrowing to $0.21 million from $0.74 million in Q1 2025. Despite these improvements, the company raised substantial doubt about its ability to continue as a going concern due to historical losses and negative cash flow. The company also completed a 1-for-10 reverse stock split effective April 30, 2026.

BIO-key International, Inc. filed an Amendment No. 1 to its Annual Report on Form 10-K for the year ended December 31, 2025, primarily to replace the independent auditor's report and consent, and include updated CEO/CFO certifications. The auditor's opinion includes an explanatory paragraph regarding substantial doubt about the company's ability to continue as a going concern, citing a history of losses, negative cash flow, and dependence on financing. The company also reported $6.1 million in revenue for 2025, falling short of its $750,000 monthly operating expense requirement.

BIO-key International, Inc. reported a going concern doubt from its auditors due to a history of losses, negative cash flow, and dependence on financing. The company generated approximately $6.1 million in revenue in 2025, significantly below its monthly operational requirement of $750,000. As a non-accelerated and smaller reporting company, it also faces ineligibility for Form S-3 due to a late 10-K filing, potentially hindering future capital raising.

BIO-key International received a notice from Nasdaq on June 5, 2026, stating that its failure to file the Quarterly Report on Form 10-Q for the period ended March 31, 2026, is an additional basis for delisting its common stock. The Nasdaq Hearing Panel will consider this non-compliance during a hearing scheduled for June 16, 2026, which was previously set to address the company's appeal of Nasdaq's May 6, 2026, suspension determination. The company is actively working to regain compliance, though there is no assurance of continued listing.

BIO-key International announced that Chairman and CEO Michael DePasquale will present at the RedChip Future Tech Investor Conference on June 10, 2026. During the presentation, he will highlight the company's growing success in high-value sectors. BIO-key expects first-half 2026 revenues to increase by 50% to approximately $5 million, up from $3.3 million in 1H'25. The company also anticipates achieving profitability in 1H'26 compared to a $1.9 million net loss in 1H'25, supporting full-year 2026 growth.

BIO-key International announced a strategic partnership with BlueAlly, a premier IT solutions provider. This collaboration successfully debuted with the deployment of BIO-key's PortalGuard platform for AOD Federal Credit Union, aiming to eliminate user friction and vulnerabilities associated with traditional Multi-Factor Authentication. The solution provides phishing-resistant authentication through Identity-Bound Biometrics, enhancing security and operational efficiency for the financial institution.

BIO-key International announced a strategic partnership with BlueAlly, a premier provider of IT solutions and managed services. This collaboration began with a successful deployment of BIO-key's PortalGuard platform for AOD Federal Credit Union. The solution aims to eliminate user friction and vulnerabilities associated with traditional Multi-Factor Authentication (MFA) by providing phishing-resistant, identity-bound biometric authentication. This enhances security, supports a zero-trust strategy, and reduces operational burden for AOD Federal Credit Union.

BIO-key International reported a 34% increase in Q1'26 revenues to $2.15 million, with net loss significantly improving to $(165K) from $(737K) in Q1'25. The company projects strong growth and profitability for the first half of 2026, with Q2 revenues expected to rise 65% to approximately $2.8 million and 1H'26 revenues reaching $5 million. Key business achievements include a $1.04 million license renewal, new partnerships in Mozambique and the U.S. public sector, and exceeding $2 million in military/defense sales.

BIO-key International, Inc. announced its common stock will be suspended from trading on the Nasdaq Capital Market effective May 13, 2026, and will subsequently trade on OTC Markets under the ticker "BKYI". The delisting is due to non-compliance with Nasdaq's $1 minimum bid price rule and the failure to file its Annual Report on Form 10-K for the year ended December 31, 2025. The company intends to appeal the decision to a Nasdaq Hearings Panel and expressed confidence in its business trajectory, projecting 1H'26 revenues to rise 50% to $5M and achieve profitability.

BIO-key International announced its common stock trading will be suspended on Nasdaq effective May 12, 2026, and will begin quoting on the OTC Market under the same symbol from May 13, 2026. The suspension is due to not meeting Nasdaq's $1 minimum bid price requirement for 10 consecutive days by May 4th, despite a recent 1-for-10 reverse split, and the unfiled 2025 Annual Report on Form 10-K. The company intends to request a hearing to appeal the suspension. Despite this, BIO-key's CEO stated the business is strong, with expectations for 1H'26 revenues to rise 50% to $5M and achieve profitability.