BK Technologies Corporation · AMEX:BKTI
BK Technologies — FY2024 Earnings Presentation
16 slides from BK Technologies's earnings presentation, Mar 27, 2025
Slide 1: Fourth Quarter & Full Year 2024 Earnings Results
NYSE American: BKTI Fourth Quarter & Full Year 2024 Earnings Results Thursday, March 27th, 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’
Slide 3: Fourth Quarter 2024 Highlights
3 Fourth Quarter 2024 Highlights • Revenue increased 9.9% to $17.9M • Gross margins of 41.2% • 4Q fully diluted EPS of $0.93 which includes a one-time $0.37 per share non-cash income tax benefit related to deferred tax assets • 4Q fully diluted non-GAAP adjusted EPS of $0.61* • Sixth consecutive qua
Slide 4: Full Year 2024 Highlights
4 Full Year 2024 Highlights Exceeded Fiscal 2024 Financial 2024 Order Activity Drove and Operational Targets Enhanced Sales Results • FY24 revenue of $76.6 million with gross • Multiple orders from state and local margin of 37.9% agencies for the BKR 9000 radio • Full-year fully diluted GAAP EPS of
Slide 5: Surpassed Target Margin Levels of 35% in 2024
5 Surpassed Target Margin Levels of 35% in 2024 Global Supply Chain Margin Recover/ Surpassed Target Margin Disruption Cost Reduction Levels of 35% 2022 (GM 19.3%) 2023 (GM 30.0%) 2024 (GM 37.9%) 45.0% 38.8% 41.2% 37.3% 40.0% 35.1% 34.5% 35.0% 31.9% 30.0% 27.4% 26.1% 25.0% 22.4% 21.7% 18.8% 20.0% 14
Slide 6: Consistent Quarterly Revenue & Growth in Adjusted Net Income Driven by Improving Gross Margins
6 Consistent Quarterly Revenue & Growth in Adjusted Net Income Driven by Improving Gross Margins Quarterly Revenue Growth Quarterly Adjusted Net Income Growth* $20.3M $20.2M $2.7M $18.2M $17.9M $2.4M $16.3M $2.0M $1.1M $704K 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 *Adjusted net income is a
Slide 7: Annual Revenue & Adjusted Profitability Growth Demonstrates Strengthening of Business Model
7 Annual Revenue & Adjusted Profitability Growth Demonstrates Strengthening of Business Model Annual Revenue Growth Annual Adjusted Net Income1 & Adjusted (in millions) EBITDA2 Growth 2021 2022 2023 2024 $74.1 $76.6 Adjusted $492K $(9.3M) $1,5M $10.4M $51.0 EBITDA $45.4 Adjusted Net Income $(736K) $
Slide 8: Strong Financial Results
8 Strong Financial Results Income Statement Three Months Ended Full Year Ended (in thousands) 12/31/24 12/31/23 12/31/24 12/31/23 Sales $17,927 $16,309 $76,592 $74,094 Gross Margin 41.2% 35.1% 37.9% 30.0% SG&A $5,170 $5,332 $21,222 $23,013 Operating Income (loss) $2,209 $400 $7,828 $(777) Net Income
Slide 9: Strengthened Balance Sheet Driven By Enhanced Operational Performance
9 Strengthened Balance Sheet Driven By Enhanced Operational Performance Enhanced cash position, increased working capital and no long-term debt positions BK with the financial flexibility to execute on its growth strategy Working Capital Shareholders’ Equity $29.8M $23.0M $21.3M $16.8M Balance Sheet
Slide 10: 2025 Goals & Financial Targets
10 2025 Goals & Financial Targets • Expect single digit revenue growth in FY25 with target GM of at least 42% • Targeting FY25 GAAP diluted EPS of $2.40 and Non- GAAP diluted adjusted EPS of $2.80 • Increase investments in sales and marketing to enhance BKR 9000 adoption • Strategically build R&D an
Slide 11: Solutions Expand Addressable Market & Enhance Radio Capabilities
11 Solutions Expand Addressable Market & Enhance Radio Capabilities Interoperable solutions that promote a unified first responder response 4Q & FY2 4 P resentat ion / NYSE Am eric an: BKTI
Slide 12: Q&A
12 Q&A
Slide 13: Appendix
13 Appendix
Slide 14: Reconciliation of Non-GAAP Metrics
14 Reconciliation of Non-GAAP Metrics Three Months Ended Full Year Ended Non-GAAP Adjusted EBITDA (in thousands) 12/31/24 12/31/23 12/31/24 12/31/23 Net Income/(Loss) $3,657 $290 $8,359 $(2,230) Adjustments to reconcile net income/(loss) to EBITDA Interest expense, net (15) 146 266 575 Income tax pr
Slide 15: Reconciliation of Non-GAAP Metrics, Cont.
15 Reconciliation of Non-GAAP Metrics, Cont. Full Year Ended Non-GAAP Adjusted EBITDA (in thousands) 12/31/21 12/31/22 12/31/23 12/31/24 Net Income/(Loss) $(1,701) $(11,633) $(2,230) $8,359 Adjustments to reconcile net income/(loss) to EBITDA Interest expense, net 53 144 575 266 Income tax provision
Slide 16: NYSE American: BKTI
TECHNOLOGIES el NYSE American: BKTI