Slide 1: First Quarter 2025 Earnings Results
NYSE American: BKTI First Quarter 2025 Earnings Results Tuesday, May 13th, 2025
Slide 2: Safe Harbor Statement
2 Safe Harbor Statement This press release contains statements about future events and expectations which are “forward-looking statements” within the meaning of Sections 27A of the Securities Act of 1933, as amended, and 21E of the Exchange Act. These forward-looking statements concern the Company’s
Slide 3: First Quarter 2025 Highlights
3 First Quarter 2025 Highlights • Revenue increased to $19.1M supported by enhanced demand and order activity for BKR Series radios • Significantly enhanced gross margins of 47.0% • Fully diluted EPS of $0.55 • Fully diluted non-GAAP adjusted EPS of $0.68* • Seventh consecutive quarter of profitabil
Slide 4: Driving Gross Margin Expansion
4 Driving Gross Margin Expansion 2022 2023 2024 2025 Global Supply Margin Recovery/ Surpassed Target Uncertain Tariff Chain Disruption Cost Reductions Margin Levels of 35% Environment (GM 19.3%) (GM 30.0%) (GM 37.9%) (Targeting Full Year GM to 42+%) 50.0% 47.0% 45.0% 41.2% 38.8% 40.0% 37.3% 35.1% 34
Slide 5: Quarterly Revenue Supported by Strong Demand for BKR Series Radios
5 Quarterly Revenue Supported by Strong Demand for BKR Series Radios Quarterly Revenue • BKR 5000 single band radio maintains strong demand $20.3M $20.2M • BKR 9000 multiband radio continues to $19.1M become a larger contributor to total $18.2M $17.9M $16.3M revenues • Higher ASP of BKR 9000 compare
Slide 6: Strong Financial Results
6 Strong Financial Results Income Statement Three Months Ended (in thousands) 3/31/25 3/31/24 Sales $19,054 $18,231 Gross Margin 47.0% 34.5% SG&A $6,034 $5,305 Operating Income (loss) $2,916 $983 Net Income (loss) $2,132 $681 EPS – diluted $0.55 $0.19 Adjusted Net Income1 $2,650 $1,074 Adjusted EPS
Slide 7: Enhanced Profitability Driven by Improving Gross Margins
7 Enhanced Profitability Driven by Improving Gross Margins Quarterly Adjusted EBITDA1 Quarterly Adjusted Net Income2 $3.2M $3.1M $2.7M $2.6M $2.4M $2.7M $2.5M $2.0M $1.4M $1.1M $892K $704K 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 1Adjusted EBITDA is a non-GAAP financial measure th
Slide 8: Strengthened Balance Sheet
8 Strengthened Balance Sheet Increased cash position, improved working capital and no debt give BK financial flexibility to execute growth strategy and provide shareholder value Working Capital Shareholders’ Equity $32.4M $24.6M $23.0M $29.8M Balance Sheet 12.31.24 3.31.25 12.31.24 3.31.25 1Q25 Pres
Slide 9: 2025 Goals & Financial Targets
9 2025 Goals & Financial Targets • Expect single digit revenue growth in FY25 with target GM of at least 42% • Increase investments in sales and marketing to enhance BKR 9000 adoption • Strategically build R&D and engineering capabilities to strengthen software expertise and offerings • Ramp develop
Slide 10: Q&A
10 Q&A
Slide 11: Appendix
11 Appendix
Slide 12: Reconciliation of Non-GAAP Metrics
12 Reconciliation of Non-GAAP Metrics Three Months Ended Full Year Ended Non-GAAP Adjusted EBITDA (in thousands) 3/31/25 3/31/24 Net Income $2,132 $681 Adjustments to reconcile net income to EBITDA Interest expense, net (3) 174 Income tax expense 670 21 Depreciation and amortization 427 407 EBITDA 3
Slide 13: Reconciliation of Non-GAAP Metrics, Cont.
113 Reconciliation of Non-GAAP Metrics, Cont. Non-GAAP Adjusted EBITDA (in thousands) 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Net Income $290 $681 $1,664 $2,357 $3,657 $2,132 Adjustments to reconcile net income to EBITDA Interest (income) expense, net 146 174 106 1 (15) (3) Income tax provision (benefit) 54 2
Slide 14: NYSE American: BKTI
TECHNOLOGIES el NYSE American: BKTI