Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| BIO KEY International Inc.BKYI · business equipment | |
|---|---|
| Grade |  Eweakest fifth of 497 graded peers; percentile 90.5, sampling error 2.2 points; lower is stronger |
| Rank | 450 of 497 |
| Profitability | B/Cpercentile 40.5 |
| Solvency | D/Epercentile 80.7 |
| Growth and financing | D/Epercentile 81.7 |
| Reliability | 0.76 AUCfailure model, filers with under $12.5M assets; 95% interval 0.65 to 0.86; 63 events, 2020 to 2025 |
| Peer failure rate | 0.60% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | under $12.5M assetstotal assets $8.3M[1] |
| Standard universe | outsiderevenue above $1M and assets above $10M[1-2] |
| Warnings | short runway, late filernot computable: dilution, distress, fortress balance sheet |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Jun 15, 2026116 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $1.702026-10-08; market equity $2.4M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Jun 12, 2026; the document on sec.gov.
Solely for convenience, trademarks and tradenames referred to in this Annual Report on Form 10-K appear (after the first usage) without the ® and ™ symbols, but those references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or that the applicable owner will not assert its rights, to these trademarks and tradenames. BIO-key International, Inc. (the “Company,” “BIO-key,” “we,” or “us”) is a leading identity and access management (IAM) platform provider enabling secure work-from-anywhere for enterprise, education, and government customers using secure multi-factor authentication (MFA).
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 40.5 | |||||||
| Gross profitability | 55.0% | [1,4] | 28.5% | 12.7 | 558 | 2025-12-31 | |
| Return on invested capital | not computable | 10.9% | |||||
| one or more required annual facts are missing | |||||||
| Accruals ratio | (29.4%) | [1,5-7] | (7.4%) | 13.4 | 621 | 2025-12-31 | |
| Gross margin stability, five years | 22.5 pts | [2,4,8-15] | 2.4 pts | 95.3 | 429 | 2025-12-31 | |
| Solvency, sleeve percentile 80.7 | |||||||
| Twelve-month failure probability | not computable | 0.05% | |||||
| market price is missing at 2026-06-30 | |||||||
| Altman Z double-prime | (56.29) | [1,16-21] | 2.18 | 96.8 | 566 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 1.11x | |||||
| one or more required annual facts are missing | |||||||
| Interest coverage | not computable | 3.77x | |||||
| latest aligned inputs end 2023-12-31; latest annual assets end 2025-12-31 | |||||||
| Current ratio | 1.47x | [16-17] | 2.02x | 64.5 | 666 | 2025-12-31 | |
| Growth and financing, sleeve percentile 81.7 | |||||||
| Revenue growth, three-year compound | (5.4%) | [2,9,11,13] | 6.4% | 80.8 | 538 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 17.2% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 14.3% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Asset growth, three years | (9.9%) | [1,7,22-23] | 5.0% | 82.6 | 563 | 2025-12-31 | |
| Net share issuance, one year | not computable | 0.5% | |||||
| raw and split-adjusted prices do not align at 2026-06-10 | |||||||
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.365; sampling error 2.2 percentile points on 497 peers.
Among 497 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 445 | Motorsport Games Inc. (MSGM) Motorsport Games Inc. (MSGM) Eweakest fifth; percentile 89.5 Nasdaq · Services-Prepackaged Software last close $5.29 No active warnings; 7 of 14 inputs | 89.5 | E | |
| 446 | 8X8 Inc. (EGHT) 8X8 Inc. (EGHT) Eweakest fifth; percentile 89.7 Nasdaq · Services-Computer Processing & Data Preparation market equity $312.0M; last close $2.15 No active warnings; 11 of 14 inputs | 89.7 | E | |
| 447 | Senseonics Holdings, Inc. (SENS) Senseonics Holdings, Inc. (SENS) Eweakest fifth; percentile 89.9 Nasdaq · Industrial Instruments For Measurement, Display, and Control market equity $476.9M; last close $9.02 Warnings: dilution, short runway, fortress balance sheet; 9 of 14 inputs | 89.9 | E | dilution, short runway, fortress balance sheet |
| 448 | Solaredge Technologies, Inc. (SEDG) Solaredge Technologies, Inc. (SEDG) Eweakest fifth; percentile 90.1 Nasdaq · Semiconductors & Related Devices market equity $2.0B; last close $32.47 No active warnings; 7 of 14 inputs | 90.1 | E | |
| 449 | FingerMotion, Inc. (FNGR) FingerMotion, Inc. (FNGR) Eweakest fifth; percentile 90.3 Nasdaq · Services-Prepackaged Software market equity $12.3M; last close $0.20 Warnings: short runway; 8 of 14 inputs | 90.3 | E | short runway |
| 450 | BIO KEY International Inc. (BKYI) BIO KEY International Inc. (BKYI) Eweakest fifth; percentile 90.5 Nasdaq · Services-Prepackaged Software market equity $2.5M; last close $1.70 Warnings: short runway, late filer; 7 of 14 inputs | 90.5 | E | short runway, late filer |
| 451 | Firefly Neuroscience, Inc. (AIFF) Firefly Neuroscience, Inc. (AIFF) Eweakest fifth; percentile 90.7 Nasdaq · Services-Prepackaged Software market equity $19.0M; last close $1.21 Warnings: dilution, late filer, fortress balance sheet; 7 of 14 inputs | 90.7 | E | dilution, late filer, fortress balance sheet |
| 452 | Laser Photonics Corp. (LASE) Laser Photonics Corp. (LASE) Eweakest fifth; percentile 90.9 Nasdaq · Miscellaneous Electrical Machinery, Equipment & Supplies market equity $37.3M; last close $0.74 Warnings: late filer; 7 of 14 inputs | 90.9 | E | late filer |
| 453 | Marketwise, Inc. (MKTW) Marketwise, Inc. (MKTW) Eweakest fifth; percentile 91.1 Nasdaq · Services-Prepackaged Software last close $19.60 No active warnings; 9 of 14 inputs | 91.1 | E | |
| 454 | Skillsoft Corp. (SKIL) Skillsoft Corp. (SKIL) Eweakest fifth; percentile 91.3 NYSE · Services-Prepackaged Software market equity $55.9M; last close $6.38 No active warnings; 8 of 14 inputs | 91.3 | E | |
| 455 | Tucows Inc. (TCX) Tucows Inc. (TCX) Eweakest fifth; percentile 91.5 Nasdaq · Services-Computer Processing & Data Preparation market equity $108.0M; last close $9.69 No active warnings; 8 of 14 inputs | 91.5 | E |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | E | 89.5 | 2204 |
| sector peers, equal sleeves (the grade) | E | 90.5 | 497 |
| same exchange, equal sleeves | E | 89.1 | 1219 |
| sector peers, equal inputs | E | 86.9 | 497 |
Each letter is one fifth of the 497 graded peers, about 99 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | not computable | 2.2% | missing required 12-1 monthly returns: 2026-07, 2026-06, 2026-05, 2026-04, 2026-03, 2026-02, 2026-01, 2025-12, 2025-11, 2025-10 | |
| Distance from 52-week high | (67.2%) | (30.0%) | 13 | closer to its high than 13 of 100 peers |
| EBIT to enterprise value | not computable | 1.5% | required accounting or market input is missing | |
| Free cash flow yield | (187.3%) | 2.7% | 2 | pricier than 98 of 100 peers |
| Book value to price | 1.73 | 0.23 | 94 | pricier than 6 of 100 peers |
| Sales to price | 2.38 | 0.30 | 92 | pricier than 8 of 100 peers |
| Composite equity issuance, five years | not computable | 3.9% | five-year total-return history is required | |
| Relative strength against the sector, log excess return | not computable | (0.26) | missing required 12-1 monthly returns: 2026-07, 2026-06, 2026-05, 2026-04, 2026-03, 2026-02, 2026-01, 2025-12, 2025-11, 2025-10 |
Inputs: market equity $2.5M; EBIT -$6.8M; free cash flow -$4.7M; book equity $4.3M; sales $5.9M; cash $1.4M[24].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (83.1%) | ✗ fail[5,7] |
| Operating cash flow above zero | -$4.7M | ✗ fail[6] |
| Return on assets improved | 12.1 pts | ✓ pass[5,7,22,25] |
| Operating cash flow exceeds net income | $2.5M | ✓ pass[5-6] |
| Long-term leverage fell | n/a[1,7,22,26] | |
| Current ratio improved | 105.1 pts | ✓ pass[16-17,27-28] |
| No new shares issued | n/a[29-30] | |
| Gross margin improved | (4.5 pts) | ✗ fail[2,4,8-9] |
| Asset turnover improved | (84.5 pts) | ✗ fail[2,7,9,22] |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $8.3M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $5.9M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $1.4M | 2026-06-30 | 2026-08-13 | 10-Q | filing · viewer · series |
| 4 | gross profit | us-gaap:GrossProfit | $4.6M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 5 | net income | us-gaap:NetIncomeLoss | -$7.2M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 6 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$4.7M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 7 | assets | us-gaap:Assets | $8.6M | 2024-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 8 | gross profit | us-gaap:GrossProfit | $5.6M | 2024-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 9 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $6.9M | 2024-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 10 | gross profit | us-gaap:GrossProfit | $1.4M | 2023-12-31 | 2025-04-23 | 10-K | filing · viewer · series |
| 11 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $7.8M | 2023-12-31 | 2025-04-23 | 10-K | filing · viewer · series |
| 12 | gross profit | us-gaap:GrossProfit | $4.6M | 2022-12-31 | 2024-06-05 | 10-K | filing · viewer · series |
| 13 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $7.0M | 2022-12-31 | 2024-06-05 | 10-K | filing · viewer · series |
| 14 | gross profit | us-gaap:GrossProfit | $3.4M | 2021-12-31 | 2023-06-01 | 10-K | filing · viewer · series |
| 15 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $5.1M | 2021-12-31 | 2023-06-01 | 10-K | filing · viewer · series |
| 16 | current assets | us-gaap:AssetsCurrent | $4.5M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 17 | current liabilities | us-gaap:LiabilitiesCurrent | $3.1M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 18 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$136.5M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 19 | operating income | us-gaap:OperatingIncomeLoss | -$6.8M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 20 | book equity | us-gaap:StockholdersEquity | $5.1M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 21 | liabilities | us-gaap:Liabilities | $3.2M | 2025-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 22 | assets | us-gaap:Assets | $4.5M | 2023-12-31 | 2025-04-23 | 10-K | filing · viewer · series |
| 23 | assets | us-gaap:Assets | $11.3M | 2022-12-31 | 2024-06-05 | 10-K | filing · viewer · series |
| 24 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 1,436,344 | 2026-08-11 | 2026-08-13 | 10-Q | filing · viewer · series |
| 25 | net income | us-gaap:NetIncomeLoss | -$4.3M | 2024-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 26 | long term debt | us-gaap:LongTermDebtNoncurrent | $44,762 | 2024-12-31 | 2025-04-23 | 10-K | filing · viewer · series |
| 27 | current assets | us-gaap:AssetsCurrent | $1.9M | 2024-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 28 | current liabilities | us-gaap:LiabilitiesCurrent | $4.6M | 2024-12-31 | 2026-06-12 | 10-K | filing · viewer · series |
| 29 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 1,085,360 | 2026-06-10 | 2026-06-15 | 10-K/A | filing · viewer · series |
| 30 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 5,814,041 | 2025-04-21 | 2025-04-23 | 10-K | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$1.2M | 2026-06-30 | 2026-08-13 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$358,001 | 2026-03-31 | 2026-06-22 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$2.8M | 2025-09-30 | 2025-11-14 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$1.7M | 2025-06-30 | 2026-08-13 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 90.5 is 10.5 points from the nearest band edge; sampling error is 2.2 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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