BIO-key International, Inc. Common Stock logo

BIO-key International, Inc. Common Stock(BKYI)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$1.68
09/28/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for BKYI

09/28/2026: BKYI (1-star) is currently NOT-A-BUY. Pass it for now.

BIO-key International is a small-cap technology company providing biometric-based identity and access management solutions. The company's main strength lies in its specialized software platform, PortalGuard, which facilitates secure, passwordless authentication for enterprises. Its growth story centers on capitalizing on the secular trend toward cloud-based security. However, the company faces significant competition from much larger, well-funded technology firms, and it has historically struggled with profitability and cash flow. The stock is best suited for risk-tolerant investors who can monitor execution and liquidity developments. It is not currently suitable for value or dividend-focused investors, as the company remains in a growth and operational refinement phase.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company targets high-growth security markets but has yet to demonstrate consistent profitable scaling.
Momentum investorWeak fitThe stock lacks the consistent price uptrend and volume characteristics typically sought by momentum players.
Value investorWeak fitLack of consistent earnings and cash flow makes traditional value metrics difficult to apply.
Dividend investorWeak fitThe company does not pay a dividend and focuses capital on operational survival and growth.
Low-risk investorWeak fitHigh volatility and operational risks make this unsuitable for risk-averse portfolios.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe stock exhibits significant price swings due to its small-cap nature and speculative interest.
Valuation riskHighInvestors face uncertainty regarding fundamental value given the lack of consistent profitability.
Competition risk (Identity/Security market)HighThe company faces immense pressure from much larger, better-funded tech giants.
Business qualityMediumThe shift to a software-as-a-service model is positive, but history shows difficulty in sustaining margins.
Dividend incomeLow / noneThere is no income generation for shareholders.
Execution riskMedium / highThe ability to scale sales and maintain market share against major competitors is a persistent challenge.

Price Behavior

Steep Decline
PRICE PATH

Steep Decline

The stock price has dropped sharply with strong downward pressure.

Extreme Price Shocks
PRICE STABILITY

Extreme Price Shocks

The stock has experienced exceptionally large and disruptive price movements during the period.

Analysis of Past Performance

Type Stock
Historic Profit -61.06%
Avg. Invested days 5
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 1.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/28/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
BKYI receives a 3-star rating based on the available scored pillars. The rating is constrained by weak unit economics, and weak price momentum.

Company Fundamentals

★★★★★
BKYI has moderate overall fundamentals (3 stars), with soft financial health, soft growth momentum, and moderate ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-6.7%), weak cash generation (FCF margin -76.7%), negative revenue growth (-12.0%).

Financial Health Rating

★★★★★
BKYI's financial health is soft, with the relatively strongest area being moderate liquidity, including working-capital and asset support (WC/assets 13.3%). Cash strength is soft (2 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
BKYI's growth profile is soft, with the least-weak measure being earnings growth at -6.7% FY2025 versus FY2024. By comparison, while revenue growth (-12.0%, negative) and free-cash-flow growth (-59.7%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 2.5% (soft) and 93.2% of outstanding shares are publicly tradable (strong). Insider ownership of 8.66% supports management-shareholder alignment.

Top 5 Institutional Investors

Geode Capital Management, LLC 2.72%
Citigroup Inc 0.46%
Vanguard Capital Management, LLC 0.32%
UBS Group AG 0.05%
Morgan Stanley - Brokerage Accounts 0.02%

Unit Economics (Per $1K Revenue)

★★★★★
BKYI generates approximately $775 of gross profit, $-699 of operating income, and $-767 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Operating losses and cash burn explain the 1-star rating, with weak cash conversion and weak capital efficiency.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.36%

Quantitative Style Profile

★★★★★
BKYI has a liquid, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedLow VolatilitySmall / Mid Cap RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 2.57M USD
Price to earnings Ratio -
1Y Target Price 20
Price to earnings Ratio -
1Y Target Price 20
Volume (30-day avg) 56.0K shares
Beta 0.4
52 Weeks Range 1.63 - 13.80
Updated Date 09/27/2026
52 Weeks Range 1.63 - 13.80
Updated Date 09/27/2026
Dividends yield (FY) -
Basic EPS (TTM) -7.91

How Company Makes Money

Business areaWhat it includesRetail investor read
Software/SaaSPortalGuard and identity management platform subscriptions.The company aims to make consistent money through subscription fees for their security software.
HardwareFingerprint scanner hardware sales.A smaller, legacy revenue stream that complements their software solutions.
ServicesIntegration, consulting, and support services.Revenue earned by helping companies set up and manage their security systems.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE -
Enterprise Value 3.04M
Price to Sales(TTM) 0.38
Enterprise Value 3.04M
Price to Sales(TTM) 0.38
Enterprise Value to Revenue 0.45
Enterprise Value to EBITDA -0.74
Shares Outstanding 1.44M
Shares Floating 1.34M
Shares Outstanding 1.44M
Shares Floating 1.34M
Percent Insiders 8.66
Percent Institutions 2.5

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI Summary

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About BIO-key International, Inc. Common Stock

Exchange NASDAQ
Headquarters Holmdel, NJ, United States
IPO Launch date 1997-02-14
Chairman & CEO Mr. Michael W. DePasquale
Sector Industrials
Industry Security & Protection Services
Full time employees 41
Full time employees 41

BIO-key International, Inc. develops and markets fingerprint identification biometric technology and software solutions, and enterprise-ready identity access management solutions in the United States and internationally. It offers BIO-key PortalGuard and PortalGuard IDaaS cloud-based identity platforms, which allows authentication through an IAM platform; and BIO-key VST and WEB-key; civil and large-scale ID infrastructure. The company also provides fingerprint readers for commercial companies under the SidePass, SideSwipe, and EcoID II brands; and identity and access management, user multi-factor authentication, single sign on, privilege entitlement, and access control. It serves commercial, government, and education customers. 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 Holmdel, New Jersey.