The following is a summary of the BIO-key International, Inc. (BKYI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• BIO-key's Q3 2024 revenue increased 18% year-over-year to $2.1 million, driven by higher software license fees and hardware revenue.

• Gross profit margins improved significantly due to a higher portion of license fee revenue and reduced costs related to hardware and third-party software licensing.

• Net loss improved to $0.7 million or $0.39 per share in Q3 2024 from a net loss of $1.8 million or $3.22 per share in Q3 2023.

Business Progress:

• BIO-key secured a substantial order from a long-time banking and financial services customer, who is upgrading to a more sophisticated biometric solution hosted on AWS.

• Deployed solutions now cover 33,000 users with a defense ministry and add 10,000 users in British Columbia to their WEB-key software deployment.

• Launched the PortalGuard IDaaS platform on AWS marketplace to expand visibility and reach into a global customer base.

Opportunities:

• Expansion and deployment of more advanced biometric solutions indicate strong future revenue and business growth potential, especially with key sectors like banking and defense.

• Increased adoption and expansion in existing large-scale enterprises and government customers.

Risks:

• Reliance on timing and impact of larger customer contracts could lead to variability in quarterly performance.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.