About BK Technologies

BK Technologies Corporation, through BK Technologies, Inc. (BK), provides public safety grade communications products and services. The company operates through two units: Radio and SaaS. The Radio business unit designs, manufactures and markets American-made wireless communications products consisting of two-way land mobile radios (LMRs). Two-way LMRs can be radios that are hand-held (portable) or installed in vehicles (mobile). Generally, BK Technologies-branded products serve the government markets including but not limited to emergency response, public safety, homeland security and military customers of federal, state, and municipal government agencies, as well as various industrial and commercial enterprises. The SaaS business unit focuses on delivering innovative, public safety smartphone applications which operate ubiquitously over the public cellular networks. The company’s BKRplay branded smartphone application offers multiple services which make the first responder safer and more efficient. When tethered to the company’s radios, the combined solution offers an enhanced user experience with more unique capability. Radio Products and P25 CAP Compliance The company offers products under the company brand name BK Technologies. The company’s KNG Series and BKR Series radios operate in both the P25 digital and analog modes of operations in the Federal Communications Commission (FCC) licensed bands; very high frequency (VHF) (136MHz - 174MHz), ultra-high frequency (UHF) (380MHz - 470MHz, 450MHz - 520MHz), and 700-800 MHz bands. The company’s P25 digital technology is compliant with the Project 25 standard for digital LMR equipment. P25 has been adopted by representatives from APCO, NASTD, the United States (U.S.) Federal Government and other public safety user organizations. The Department of Homeland Security’s P25 Compliance Assessment Program (CAP) is a voluntary program that allows LMR equipment suppliers to formally demonstrate their products’ compliance with P25 requirements. The purpose of the program is to provide federal, state and local emergency response agencies with evidence that the communications equipment they are purchasing satisfies the P25 standard for performance, conformance and interoperability. The program is a result of legislation passed by the U.S. Congress to improve communication interoperability for first responders and is a partnership of the U.S Department of Homeland Security (DHS)’s Command, Control and Interoperability Division, the National Institute of Standards and Technology (NIST), radio equipment manufacturers and the emergency response community. Both the KNG and BKR series radios have been validated under the CAP as being P25 compliant. Software-as-a-Service (SaaS) Offerings BK’s first SaaS service, InteropONE, was introduced in 2022 at the International Association of Chiefs of Police (IACP) conference. InteropONE is a Push-to-talk-Over-Cellular (PTTOC) SaaS service, which provides emergency incident commanders the capability to dynamically establish group push-to-talk communications between at-large smartphone users directly from their smartphone. There are several PTTOC services available from cellular carriers and other service providers. While these services provide supplementary features and coverage to LMR networks, PTTOC subscribers to a specific service cannot communicate to PTTOC subscribers of another service provider without deployment of pre-configured, complex, and expensive interoperability gateways. InteropONE addresses this interoperability gap by enabling emergency management personnel to quickly bring together any person with a smartphone regardless of which carrier they subscribed to or whether the smartphone user subscribes to a PTTOC service. The company expects to launch the service in the first quarter of 2023. BKRplay is BK’s public safety smartphone application which provides access to the InteropONE service, as well as a host of other capabilities, which make the first responder safer and more efficient. Built around an intelligent interface between a smartphone and the company’s BK radio, BKRplay services deliver an enhanced customer experience which increases the sales reach of its radios. BKRplay is available to download free of charge from the Google Play or Apple App stores. Engineering, Research and Development For 2022, the company’s engineering and development expenses were approximately $9.6 million. Intellectual Property The company has two U.S. patents in force, and it has four pending U.S. patent applications. The company has registered U.S. trademarks related to the names BK Technologies, BK Radio and Radios for Heroes and has applied for registration of BKR, BKRplay, and InteropONE. Significant Customers Sales to the U.S. Government represented approximately 38% of the company’s total sales for the year ended December 31, 2022. These sales were primarily to various government agencies, including those within the DHS, the U.S. Department of Defense (DOD), the USFS and the U.S. Department of Interior (DoI). Competition The company competes with other domestic and foreign companies primarily in the North American market, but also internationally. One dominant competitor, Motorola Solutions, Inc., is estimated to have well in excess of half the market for LMR products. Governmental Regulation In connection with its the U.S. Government contracts, the company is subject to the U.S. Federal Government procurement regulations that may provide the buyer with the right to audit and review its performance, as well as its compliance with applicable laws and regulations. The company’s radio products are regulated by the FCC in the U.S. and similar agencies in other countries where it offers its products. The company’s wireless communications products, including two-way LMRs, are subject to FCC regulations related to radio frequency spectrum. As a result of limited spectrum availability, the FCC has mandated that new LMR equipment utilize technology that is more spectrum-efficient, which effectively meant that the industry had to migrate to digital technology. As a public company, the company is also subject to regulations of the U.S. Securities and Exchange Commission (the SEC) and the stock exchange on which it is listed (NYSE American). History BK Technologies Corporation was incorporated in 1997 under the laws of the state of Nevada.

Country
Industry:
Radio and Television Broadcasting and Communications Equipment
Founded:
1997
IPO Date:
10/03/1978
ISIN Number:
I_US05587G2030
Address:
7100 Technology Drive, West Melbourne, Florida, 32904, United States
Phone Number
321 984 1414

Key Executives

CEO:
Suzuki, John
CFO
Malmanger, Scott
COO:
Data Unavailable