BIO KEY INTERNATIONAL INC
For the period ended Jun 30, 2026. Filed Aug 13, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 13, 2026
BKYI$2.39+0.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
CONDENSED CONSOLIDATED BALANCE SHEETS
| June 30, | December 31, | |
|---|---|---|
| 2026 | 2025 | |
| (Unaudited) | ||
| ASSETS | ||
| Cash and cash equivalents | $1,379,300 | $2,694,663 |
| Accounts receivable, net | 1,731,509 | 1,220,822 |
| Inventory | 375,740 | 370,879 |
| Prepaid expenses and other | 320,086 | 251,323 |
| Total current assets | 3,806,635 | 4,537,687 |
| Equipment and leasehold improvements, net | 34,804 | 67,751 |
| Capitalized contract costs, net | 266,510 | 311,591 |
| Deposits and other assets | 7,976 | 7,976 |
| Operating lease right-of-use assets | 148,721 | 47,953 |
| Investments | 2,500,000 | 2,500,000 |
| Intangible assets, net | 718,430 | 830,357 |
| Total non-current assets | 3,676,441 | 3,765,628 |
| TOTAL ASSETS | $7,483,076 | $8,303,315 |
| LIABILITIES | ||
| Accounts payable | $411,203 | $507,357 |
| Accrued liabilities | 1,169,747 | 1,333,930 |
| Note payable | 699,769 | 604,102 |
| Government loan – BBVA Bank, current portion | 12,351 | 50,530 |
| Deferred revenue, current | 653,529 | 572,513 |
| Operating lease liabilities, current portion | 66,585 | 27,728 |
| Total current liabilities | 3,013,184 | 3,096,160 |
| Deferred revenue, long term | 35,367 | 62,584 |
| Deferred tax liability | 16,500 | 16,500 |
| Operating lease liabilities, net of current portion | 83,147 | 21,266 |
| Total non-current liabilities | 135,014 | 100,350 |
| TOTAL LIABILITIES | 3,148,198 | 3,196,510 |
| Commitments and Contingencies | ||
| STOCKHOLDERS’ EQUITY | ||
| Common stock — authorized, 170,000,000 shares; issued and outstanding; 1,087,360 of $.0001 par value at June 30, 2026 and 1,085,360 at December 31, 2025, respectively | 109 | 109 |
| Additional paid-in capital | 141,588,797 | 141,497,741 |
| Accumulated other comprehensive income | (6,291) | 74,803 |
| Accumulated deficit | (137,247,737) | (136,465,848) |
| TOTAL STOCKHOLDERS’ EQUITY | 4,334,878 | 5,106,805 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $7,483,076 | $8,303,315 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| Three Months Ended · Six Months Ended | ||||
|---|---|---|---|---|
| June 30, | June 30, | |||
| 2026 | 2025 | 2026 | 2025 | |
| Revenues | ||||
| Services | $231,005 | $321,996 | $479,388 | $594,594 |
| License fees | 1,229,345 | 806,087 | 2,595,238 | 1,904,845 |
| Hardware | 459,641 | 568,824 | 990,898 | 804,627 |
| Total revenues | 1,919,991 | 1,696,907 | 4,065,524 | 3,304,066 |
| Costs and other expenses | ||||
| Cost of services | 79,716 | 118,301 | 158,214 | 216,445 |
| Cost of license fees | 74,972 | 86,488 | 148,206 | 159,373 |
| Cost of hardware | 794,313 | 536,806 | 1,117,851 | 645,275 |
| Cost of hardware - reserve | (703,050) | (277,415) | (802,020) | (277,415) |
| Total costs and other expenses | 245,951 | 464,180 | 622,251 | 743,678 |
| Gross profit | 1,674,040 | 1,232,727 | 3,443,273 | 2,560,388 |
| Operating expenses | ||||
| Selling, general and administrative | 1,563,027 | 1,680,550 | 2,873,093 | 3,053,074 |
| Research, development and engineering | 640,418 | 636,027 | 1,257,299 | 1,231,802 |
| Total operating expenses | 2,203,445 | 2,316,577 | 4,130,392 | 4,284,876 |
| Operating loss | (529,405) | (1,083,850) | (687,119) | (1,724,488) |
| Other income (expense) | ||||
| Interest income | 386 | 2,092 | 1,062 | 2,095 |
| Loan fee amortization | (20,833) | (60,000) | (41,666) | (120,000) |
| Interest expense | (27,000) | (25,638) | (54,166) | (61,548) |
| Total other income (expense), net | (47,447) | (83,546) | (94,770) | (179,453) |
| Loss before provision for income tax | (576,852) | (1,167,396) | (781,889) | (1,903,941) |
| Provision for income taxes | - | - | - | - |
| Net loss | $(576,852) | $(1,167,396) | $(781,889) | $(1,903,941) |
| Comprehensive loss: | ||||
| Net loss | $(576,852) | $(1,167,396) | $(781,889) | $(1,903,941) |
| Other comprehensive income (loss) – foreign currency translation adjustment | (30,595) | 58,805 | (81,094) | 65,608 |
| Comprehensive loss | $(607,447) | $(1,108,591) | $(862,983) | $(1,838,333) |
| Basic and diluted loss per common share | $(0.56) | $(2.01) | $(0.75) | $(3.61) |
| Weighted average common shares outstanding: | ||||
| Basic and diluted | 1,037,155 | 582,113 | 1,036,938 | 526,711 |
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