BKYI - BIO-key GAAP EPS of -$0.29 revenue of $1.37M

• BIO-key press release ( NASDAQ: BKYI ): Q3 GAAP EPS of -$0.29.
• Revenue of $1.37M (+6.2% Y/Y).
• Outlook: “We expect a strong close to the year, however, given our slower than expected sales so far this year, we now expect full-year revenues of $7M to $9M in 2022, representing growth of 37% to 76% over 2021 revenue. Our updated outlook anticipates growth in recurring software license revenue to roughly 70% of our total revenue, supported by hardware and services revenue contributions, which are typically in support of specific projects.

  “Our current outlook is supported by our technology leadership, our talented global sales, marketing and management teams, and the growing productivity of our channel partner program. With our acquisition of Swivel Secure Europe, we have added critical mass in Europe, the Middle East and Asia. Accordingly, we expect to see significant EMEA growth moving into 2023 now that our team has been fully trained on the value and capabilities of our extended line of solutions and services.”

• Shares -6.88%

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