UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the quarterly period ended June 30, 2023 Commission File Number: 001-32644 Nevada 83-4064262 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Registrant's telephone number, including area code: (321) 984-1414 Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the ...

BK Technologies Corp. (NYSE:BKTI) Q1 2023 Results Conference Call May 4, 2023 9:00 AM ET Company Participants John Nesbett - IMS IR John Suzuki - CEO Scott Malmanger - CFO Conference Call Participants Orin Hirschman - AIGH Partners Scott Weis - Semco Capital Operator Good morning, ladies and gentlemen, and welcome to the BKTI First Quarter 2023 Earnings Call. This call is being recorded. [Operator Instructions] Following management’s remarks, the call will be open to questions. There is a slide presentation ...

BK TECHNOLOGIES CORPORATION Condensed Consolidated Balance Sheets (In thousands, except share data) | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|----------| | Accrued compensation and related taxes | 1,573 | 1,143 | | Accrued warranty expense | 669 | 591 | | Accrued other expenses and oth ...

Financial Data and Key Metrics Changes - In Q4 2022, the company reported sales of approximately $20.3 million, up from $12.8 million in the same quarter last year, indicating significant growth [72] - Gross profit margins decreased to 22% in Q4 2022 from 36% in the same quarter last year, primarily due to increased material and freight costs, along with a one-time inventory adjustment of $254,000 [8][9] - The company recorded a net loss of $961,000 or $0.06 per share in Q4 2022, compared to a net loss of $303,000 or $0.02 per share in the prior year [9] Business Line Data and Key Metrics Changes - The BKR 5000 radio saw strong demand, with a record shipment of 11,200 units in Q4 2022, more than double the amount shipped in Q3 2022 [3] - The company is targeting the shipment of 32,000 to 36,000 radio units in 2023, representing a growth of 25% to 40% compared to 2022 [4] Market Data and Key Metrics Changes - The addressable market for the InteropONE service is estimated to be around $150 million, assuming low single-digit market penetration [25] - The company has received its first order from a large public safety agency in a top 5 U.S. metropolitan market, indicating growing market interest [66] Company Strategy and Development Direction - The company aims to establish a strong presence in federal, state, and local public safety markets with the BKR 9000 and InteropONE [11] - The focus for 2023 includes maximizing production efficiency and targeting a gross margin of 35% for the full year [27][57] - The decision to suspend dividends was made to prioritize capital allocation towards organic growth, particularly for the BKR 5000, BKR 9000, and the SaaS division [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering 2023 with strong backlog and bookings momentum, alongside the anticipated launch of the BKR 9000 [4] - The company expects margin improvement in Q1 2023 and throughout the year, driven by incremental product cost improvements [14][27] - Management highlighted the importance of the InteropONE service in improving first responder response times, which could save lives [7] Other Important Information - The company has approximately $1.9 million in cash and cash equivalents and only $329,000 in long-term debt, providing a solid liquidity position for growth [56] - The company added a second production line at its facility, significantly increasing manufacturing capacity [67] Q&A Session Summary Question: What does the gross margin say about the ability to raise prices? - Management indicated that while there is some ability to raise prices, many contracts were signed at earlier pricing levels, which are still being fulfilled [17][77] Question: When will sales of the BKR 9000 commence? - Sales of the BKR 9000 cannot begin until FCC authorization is received, which is expected shortly [18][68] Question: Does everyone need the InteropONE app for it to work? - The app is free to download, and users can join a talk group quickly through a text message link sent by a host agency [20][35][82]

Financial Performance - BK Technologies Corporation reported net sales of $50,951,000 for the year ended December 31, 2022, an increase of 12% compared to $45,364,000 in 2021[48]. - The net loss for the year ended December 31, 2022, was $11,633,000, compared to a net loss of $1,701,000 in 2021, reflecting a substantial decline in profitability[48]. - The company recognized an operating loss of approximately $11.1 million (21.7% of sales) in 2022, compared to an operating loss of $1.2 million (2.6% of sales) in the previous year[136][147]. - The net loss for 2022 totaled approximately $11.6 million ($0.69 per basic share), compared to a net loss of approximately $1.7 million ($0.11 per basic share) in 2021[149]. - The company incurred operating losses and reported negative cash flows from operations during 2022 and 2021, impacted by worldwide shortages of materials[91]. Expenses and Liabilities - The company incurred a total operating expense of $62,032,000 in 2022, which is a significant increase from $46,560,000 in 2021, leading to an operating loss of $11,081,000[48]. - Total liabilities increased to $28,697,000 in 2022 from $17,767,000 in 2021, indicating a rise in the company's financial obligations[45]. - Selling, general and administrative (SG&A) expenses totaled approximately $20.9 million, representing 41.1% of sales, compared to $17.5 million (38.5% of sales) in 2021[131][147]. - The company incurred net interest expense of approximately $144,000 in 2022, compared to $53,000 in the prior year[138]. Cash Flow and Assets - Cash and cash equivalents at the end of 2022 were $1,918,000, a decrease from $10,580,000 at the beginning of the year, reflecting a net change of $(8,662,000)[56]. - Net cash used in operating activities for 2022 was $(9,000,000), compared to $(6,302,000) in 2021, indicating a worsening cash flow situation[56]. - Total current assets decreased to $36,217,000 in 2022 from $37,421,000 in 2021, while total assets decreased to $48,832,000 from $50,385,000[45]. - Working capital as of December 31, 2022, was approximately $13.2 million, down from $25.2 million at the end of 2021[151]. Inventory and Accounts - The company recorded an allowance for slow-moving, excess, and obsolete inventory of approximately $1,247,000 as of December 31, 2022[30]. - Inventory levels increased by approximately $5.1 million during the year ended December 31, 2022, attributed to extended supply-chain lead times[178]. - The company experienced an increase in accounts payable of approximately $7.0 million for the year ended December 31, 2022, compared to an increase of approximately $0.8 million for the prior year[178]. - Accounts receivable increased by approximately $2.4 million during the year ended December 31, 2022, primarily due to the timing of sales[178]. Shareholder Equity and Stock Options - Total stockholders' equity at December 31, 2022, was $20,135,000, down from $32,618,000 at December 31, 2021, indicating a decrease of approximately 38.4%[50]. - The weighted average shares outstanding for basic and diluted earnings per share increased to 16,911,000 in 2022 from 14,941,000 in 2021[48]. - Share-based compensation expense for stock options was $271,000 in 2022, up from $253,000 in 2021, showing a 7.1% increase in compensation costs[56]. - The Company recorded non-cash restricted stock unit compensation expense of $404,000 for the year ended December 31, 2022, compared to $306,000 for 2021, reflecting a 32% increase[209]. Research and Development - Engineering, research and development costs for the years ended December 31, 2022 and 2021 were $9,604,000 and $8,203,000, respectively[95]. - Engineering and product development expenses for 2022 were approximately $9.6 million (18.8% of sales), including a one-time write-off of $646,000[132]. Market and Operational Challenges - The company anticipates that supply chain constraints may continue to impact operations and sales in the upcoming quarters[125][130]. - Approximately 17.0% of the Company's material procurements in 2022 were sourced internationally, down from 32.4% in 2021[85]. - The company recorded a liability for estimated costs under its product warranties, which are based on historical experience[100]. Customer Orders and Sales Growth - In 2022, the company achieved record customer orders of approximately $70 million, an increase from previous years[153]. - For the fiscal year 2022, net sales increased by approximately $5.6 million to approximately $51.0 million, compared to approximately $45.4 million in 2021[156]. - As of December 31, 2022, the current backlog of customer orders is healthy, with expectations to fulfill many during the first half of 2023[124][146].

BK Technologies Corporation (NYSE:BKTI) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET Company Participants John Suzuki - CEO & Director John Nesbett - IMS Investor Relations Scott Malmanger - Interim CFO, Principal Accounting Officer & Company Secretary Conference Call Participants Brett Reiss - Janney Montgomery Scott Operator Good morning, ladies and gentlemen, and welcome to the BK Technologies Corporation Conference Call for the Third Quarter 2022. This call is being recorded. [Operator I ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $0.60 per share BKTI NYSE American Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated Filer ☒ Smaller reporting company ☒ Emerging growth company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURS ...

| --- | --- | --- | |--------------------------------------|-----------------|-----------------| | | | | | | | | | SECOND QUARTER 2022 EARNINGS RESULTS | BK TECHNOLOGIES | | | NYSE American: BKTI | | August 11, 2022 | DISCLOSURES 2 2 Forward-Looking Statements This presentation contains certain forward-looking statements that are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company's operations, economic p ...

BK Technologies Corporation (NYSE:BKTI) Q2 2022 Earnings Conference Call August 11, 2022 9:00 AM ET Company Participants John Suzuki - Chief Executive Officer Scott Malmanger - Chief Financial Officer Conference Call Participants Aaron Martin - AIGH Investment Partners Orin Hirschman - AIGH Investment Partners Operator Good morning, ladies and gentlemen and welcome to the BK Technologies Corporation Conference Call for the Second Quarter 2022. This call is being recorded. [Operator Instructions] Following m ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 83-4064262 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $0.60 per share BKTI NYSE American Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated Filer ☒ Smaller reporting company ☒ Emerging growth company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d ...