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    Dan Thomas

    Senior Analyst at private investor

    Dan Thomas is a Senior Analyst at Private Investor, specializing in equity research across technology, consumer, and financial sectors with a focus on high-growth companies such as Tesla, Apple, and Alphabet. He is recognized for his strong track record, achieving a success rate of over 65% on published recommendations and ranking in the top 10% of analysts on platforms like TipRanks, with notable returns exceeding industry averages. Dan began his finance career in 2012 at Barclays as an Equity Research Associate, later joining JP Morgan as a Vice President of Equity Research before moving to Private Investor in 2019. He holds FINRA Series 7 and 63 licenses, and is regularly cited for his actionable insights and performance-driven research.

    Dan Thomas's questions to BIO KEY INTERNATIONAL (BKYI) leadership

    Dan Thomas's questions to BIO KEY INTERNATIONAL (BKYI) leadership • Q2 2025

    Question

    The analyst asked about the future trend of operating expenses, the nature and timing of unannounced contracts in Europe, the expected revenue ramp and path to breakeven, the status of reserve inventory sales, the relationship between hardware and software sales, updates on the Africa business, and the company's cash runway through the end of the year.

    Answer

    Management stated that the Q2 expense increase was a temporary anomaly and the previous run rate should continue. They confirmed significant, real contracts in the defense sector that are already generating revenue in Q3 and will continue to grow, but cannot be announced due to their sensitive nature. These contracts are expected to ramp significantly. The company is actively selling its reserve inventory but won't disclose the remaining amount. In Africa, the focus has shifted to the commercial enterprise market. Management confirmed they have sufficient cash to last through the end of the year.

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