olivLaw · US equity research
BK Technologies Corporation BKTI
Radio & Tv Broadcasting & Communications Equipment · SIC 3663 · Vertical: Radio & Tv Broadcasting & Communications Equipment (SIC 3663)
BK Technologies makes public safety grade two-way land mobile radios that meet the P25 standard, plus BK ONE smartphone applications for first responders. In fiscal 2025 the company reported net sales of over 86 million USD, up about 12.5% on the prior year, driven by strong demand for the BKR9000 series and a much higher gross margin.
At the close of 04 Nov 2026, BK Technologies Corporation (BKTI) stock was 66.97 USD (−2.55% on the day), with market capitalisation 252.4 m USD, P/E 19.7 on diluted EPS of 3.40 USD over the last 12 months, beta 1.27, 52-week range 62.56–96.95 USD. Latest reported quarter (Q2 2026): revenue of 23.4 m USD (+10.6% YoY), net income of 3.2 m USD (−15.3% YoY), diluted EPS 0.79 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 40.6
- weak (30–45)
- Bollinger (20, 2)
- 63.95 – 74.02
- in the lower half of the band · %B 0.30 · band width 14.6%
- SMA 50 / 200
- 71.88 / 80.25
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -1.15 / -1.24
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −11.8% | −1.1% | −10.7 pp | — |
| 3 months | −14.2% | −0.5% | −13.7 pp | — |
| 6 months | −28.5% | +4.4% | −32.9 pp | — |
| Year to date | −10.2% | +12.3% | −22.5 pp | — |
| 1 year | −8.4% | +13.5% | −22.0 pp | +0.5% |
| 3 years | +388.8% | +76.4% | +312.4 pp | +53.9% |
| 5 years | +352.5% | +63.7% | +288.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 20.2 m | 17.9 m | 19.1 m | 21.2 m | 24.4 m | 21.5 m | 21.3 m | 23.4 m |
| Cost of revenue | 12.3 m | 10.5 m | 10.1 m | 11.1 m | 12.2 m | 10.7 m | 10.3 m | 11.3 m |
| Gross profit | 7.8 m | 7.4 m | 9.0 m | 10.0 m | 12.2 m | 10.9 m | 11.0 m | 12.1 m |
| Research & development | 1.9 m | 1.9 m | 2.5 m | 2.3 m | 2.8 m | 2.8 m | 3.7 m | 4.0 m |
| SG&A | 5.2 m | 5.2 m | 6.0 m | 6.0 m | 7.3 m | 6.6 m | 7.7 m | 8.3 m |
| Operating income | 2.6 m | 2.2 m | 2.9 m | 4.0 m | 4.8 m | 4.2 m | 3.3 m | 3.8 m |
| Depreciation & amortisation | 430.0 k ≈ | 441.0 k | 427.0 k | 440.0 k ≈ | 458.0 k ≈ | 453.0 k | 716.0 k | 747.0 k ≈ |
| Interest expense | 1.0 k | -15.0 k | -3.0 k | -39.0 k | -94.0 k | -129.0 k | -169.0 k | -205.0 k |
| Pre-tax income | 2.6 m | 2.2 m | 2.8 m | 4.0 m | 4.9 m | 4.4 m | 3.4 m | 4.0 m |
| Income tax | 247.0 k | -1.5 m | 670.0 k | 275.0 k | 1.5 m | 184.0 k | 682.0 k | 835.0 k |
| Net income | 2.4 m | 3.7 m | 2.1 m | 3.7 m | 3.4 m | 4.2 m | 2.8 m | 3.2 m |
| Diluted EPS | 0.63 | 0.92 ≈ | 0.55 | 0.96 | 0.87 | 1.05 ≈ | 0.69 | 0.79 |
| Operating cash flow | 5.7 m ≈ | 3.8 m | 2.5 m | 3.5 m ≈ | 10.4 m ≈ | 3.0 m | 6.8 m | 627.0 k ≈ |
| Capex | 453.0 k ≈ | 364.0 k | 268.0 k | 251.0 k ≈ | 359.0 k ≈ | 161.0 k | 476.0 k | 259.0 k ≈ |
| Share repurchases | — | — | 0 | 0 ≈ | — | — | 223.0 k | -90.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 56 percentile of its own 9-quarter history (min 15.3, median 16.6, max 25.6; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 49.4 m | 40.1 m | 44.1 m | 45.4 m | 51.0 m | 74.1 m | 76.6 m | 86.1 m |
| Revenue YoY | +25.3% | −18.8% | +10.1% | +2.8% | +12.3% | +45.4% | +3.4% | +12.5% |
| Net income | -195.0 k | -2.6 m | 194.0 k | -1.7 m | -11.6 m | -2.2 m | 8.4 m | 13.5 m |
| Net income YoY | unavailable | unavailable | unavailable | −976.8% | unavailable | unavailable | unavailable | +61.9% |
| Diluted EPS | -0.01 | -0.21 | 0.02 | -0.11 | unavailable | -0.65 | 2.25 | 3.44 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | −650.0% | unavailable | unavailable | unavailable | +52.9% |
| net % | -0.4% | -6.6% | 0.4% | -3.7% | -22.8% | -3.0% | 10.9% | 15.7% |
| Free cash flow | 3.9 m | -4.9 m | 3.5 m | -8.7 m | -10.8 m | -462.0 k | 11.5 m | 18.4 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 22.8 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 44.7 m USD
- Total assets
- 63.8 m USD
- Debt / equity
- unavailable
- Current ratio
- 4.21x
- ROE
- 36.3%
- ROA
- 23.5%
- FCF margin
- 21.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 44.1 m | 45.4 m | 51.0 m | 74.1 m | 76.6 m | 86.1 m | SEC (XBRL)· 12 Mar 2026verified |
| Cost of revenue | 26.1 m | 29.1 m | 41.1 m | 51.9 m | 47.5 m | 44.1 m | SEC (XBRL)· 12 Mar 2026verified |
| Gross profit | 18.0 m ≈ | 16.3 m ≈ | 9.8 m ≈ | 22.2 m ≈ | 29.1 m | 42.0 m | SEC (XBRL)· 12 Mar 2026verified |
| Research & development | 7.9 m | — | 9.6 m | 9.3 m | 7.8 m | 10.6 m | SEC (XBRL)· 12 Mar 2026verified |
| SG&A | 17.0 m | 17.5 m | 20.9 m | 23.0 m | 21.2 m | 26.0 m | SEC (XBRL)· 12 Mar 2026verified |
| Operating income | 994.0 k | -1.2 m | -11.1 m | -777.0 k | 7.8 m | 16.0 m | SEC (XBRL)· 12 Mar 2026verified |
| Depreciation & amortisation | 1.3 m | 1.4 m | 1.4 m | 1.6 m | 1.7 m | 1.8 m | SEC (XBRL)· 12 Mar 2026verified |
| EBITDA | 2.3 m ≈ | 198.0 k ≈ | -9.7 m ≈ | 858.0 k ≈ | 9.5 m ≈ | 17.8 m ≈ | SEC (XBRL)· 12 Mar 2026derived |
| Interest expense | 8.0 k | 53.0 k | 144.0 k | 575.0 k | 266.0 k | -265.0 k | SEC (XBRL)· 12 Mar 2026verified |
| Pre-tax income | 197.0 k | -1.5 m | -11.6 m | -2.2 m | 7.4 m | 16.1 m | SEC (XBRL)· 12 Mar 2026verified |
| Income tax | -3.0 k | -187.0 k | 0 | 54.0 k | -984.0 k | 2.6 m | SEC (XBRL)· 12 Mar 2026verified |
| Net income | 194.0 k | -1.7 m | -11.6 m | -2.2 m | 8.4 m | 13.5 m | SEC (XBRL)· 12 Mar 2026verified |
| Diluted EPS | 0.02 | -0.11 | — | -0.65 | 2.25 | 3.44 | SEC (XBRL)· 12 Mar 2026verified |
| Weighted average diluted shares | 12.6 m | 14.9 m | — | 3.4 m | 3.7 m | 3.9 m | SEC (XBRL)· 12 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 6.8 m | 10.6 m | 1.9 m | 3.5 m | 7.1 m | 22.8 m | SEC (XBRL)· 12 Mar 2026verified |
| Receivables | 6.5 m | 8.2 m | 10.6 m | 7.9 m | 7.3 m | 7.2 m | SEC (XBRL)· 12 Mar 2026verified |
| Inventories | 10.5 m | 17.0 m | 22.1 m | 24.0 m | 17.6 m | 15.9 m | SEC (XBRL)· 12 Mar 2026verified |
| Current assets | 25.7 m | 37.4 m | 36.2 m | 37.2 m | 36.9 m | 49.0 m | SEC (XBRL)· 12 Mar 2026verified |
| Property, plant & equipment, net | 3.6 m | 4.6 m | 4.9 m | 5.4 m | 4.9 m | 4.2 m | SEC (XBRL)· 12 Mar 2026verified |
| Total assets | 38.6 m | 50.4 m | 48.8 m | 49.4 m | 51.5 m | 63.8 m | SEC (XBRL)· 12 Mar 2026verified |
| Accounts payable | 5.1 m | 5.9 m | 12.9 m | 9.8 m | 6.3 m | 4.8 m | SEC (XBRL)· 12 Mar 2026verified |
| Current liabilities | 9.5 m | 12.2 m | 23.0 m | 20.4 m | 14.0 m | 11.6 m | SEC (XBRL)· 12 Mar 2026verified |
| Total liabilities | 15.0 m | 17.8 m | 28.7 m | 28.1 m | 21.7 m | 19.1 m | SEC (XBRL)· 12 Mar 2026verified |
| Equity | 23.6 m † | 32.6 m † | 20.1 m † | 21.3 m † | 29.8 m † | 44.7 m † | SEC (XBRL)· 12 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 4.4 m | -6.3 m | -9.0 m | 1.7 m | 12.8 m | 19.4 m | SEC (XBRL)· 12 Mar 2026verified |
| Capex | 946.0 k | 2.4 m | 1.8 m | 2.1 m | 1.2 m | 1.0 m | SEC (XBRL)· 12 Mar 2026verified |
| Free cash flow | 3.5 m ≈ | -8.7 m ≈ | -10.8 m ≈ | -462.0 k ≈ | 11.5 m ≈ | 18.4 m ≈ | SEC (XBRL)· 12 Mar 2026derived |
| Investing cash flow | -946.0 k | -2.3 m | -1.8 m | -2.1 m | -2.6 m | -3.1 m | SEC (XBRL)· 12 Mar 2026verified |
| Financing cash flow | -1.3 m | 12.4 m | 2.1 m | 2.0 m | -6.6 m | -595.0 k | SEC (XBRL)· 12 Mar 2026verified |
| Dividends paid | — | 1.2 m | 2.0 m | 0 | — | — | SEC (XBRL)· 14 Mar 2024verified |
| Share repurchases | 269.0 k | 0 | — | — | 0 | 1.2 m | SEC (XBRL)· 12 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 252.4 m USD
Key indicators
Coverage and freshness
Score by group
77% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 51.0% | 27 (on a fixed band) | 14% |
| EBIT margin · Quality | 17.9% | 85 (vs peers) | 11% |
| FCF margin · Quality | 21.7% | 87 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | 19.1% | 77 (on a fixed band) | 22% |
| Revenue growth (YoY) · Growth | 12.5% | 60 (vs peers) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 4.2x | 100 (on a fixed band) | 8% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 7.8% | 100 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 0.5% | 42 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth71/100 · 2/2 factors with a value
- Quality63/100 · 3/3 factors with a value
- Returns42/100 · 1/1 factors with a value
- Valuation· partial100/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
BK Technologies Corp (BKTI). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 86.1 m USD in 2025; YoY growth 12.5%; net margin 15.0%; ROE 30.6%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EBIT margin: 17.9%
- FCF margin: 21.7%
- Revenue CAGR 3Y: 19.1%
- Current ratio: 4.2x
- FCF yield: 7.8%
What contradicts it
- Gross margin: 51.0%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales.
Versus the vertical median
Radio & Tv Broadcasting & Communications Equipment (SIC 3663) · same industry (4-digit SIC) · compared with 20 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| QCOMQualcomm Inc | 185.3 bn | 13.6 | 52.8% | 31.6% | −2.6% | +3% / +34% |
| MSIMotorola Solutions, Inc. | 82.2 bn | 40.0 | 77.2% | 16.5% | +8.0% | +34% / +54% |
| UIUbiquiti Inc. | 34.0 bn | 35.4 | 91.1% | 29.3% | +27.2% | −4% / +400% |
| PLPlanet Labs PBC | 3.3 bn | — | -72.0% | -95.1% | +25.9% | +6% / +421% |
| ONDSOndas Inc. | 3.0 bn | 18.0 | 20.1% | 96.0% | +605.3% | −33% / +381% |
| VISNVistance Networks, Inc. | 1.5 bn | 0.2 | 22,304.0% | 247.7% | +39.7% | −67% / +286% |
| HLITHarmonic Inc. | 1.1 bn | — | -11.7% | -13.7% | −26.2% | +7% / −8% |
| BKSYBlacksky Technology Inc | 686.3 m | — | -44.8% | -61.2% | +4.4% | −5% / +59% |
| UMACUnusual Machines, Inc. | 650.9 m | — | -2.9% | -20.3% | +101.2% | +49% / unavailable |
| GILTGilat Satellite Networks Ltd. | 521.2 m | 20.8 | 5.2% | 4.6% | +47.9% | −39% / +10% |
| AVNWAviat Networks, Inc. | 254.8 m | 104.7 | 1.0% | 0.6% | +1.2% | −10% / −34% |
| BKTIBK Technologies Corp | 252.4 m | 19.7 | 30.6% | 15.0% | +12.5% | −8% / +389% |
| CRNTCeragon Networks Ltd | 176.8 m | — | -1.2% | -0.6% | −14.1% | −2% / +6% |
| VUZIVuzix Corp | 171.4 m | — | -122.7% | -519.0% | +9.1% | −25% / −3% |
| SATLSatellogic Inc. | 87.6 m | — | — | -325.6% | +37.6% | +95% / +140% |
| AIRGAirgain, Inc. | 55.4 m | — | -23.7% | -13.6% | −14.6% | +4% / +76% |
| WATTEnergous Corporation | 45.0 m | — | -32.8% | -76.4% | +633.1% | +30% / −87% |
| CMTLComtech Telecommunications Corp | 37.4 m | — | -50.5% | -14.5% | −17.0% | −59% / −90% |
| KUSTKustom Entertainment, Inc. | 22.6 m | — | -323.8% | -126.5% | +1.7% | −98% / −100% |
| ERICEricsson Lm Telephone Co | — | — | 27.9% | 12.0% | −4.5% | +15% / +126% |
| NOKNokia Corporation | — | — | 3.1% | 3.3% | +3.5% | +36% / +137% |
1- and 3-year price returns: for BKTI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 46.35 Total return -31% · Per year -31% | 81.57 Total return 22% · Per year 22% | 122.35 Total return 83% · Per year 83% |
| 3 years | 54.98 Total return -18% · Per year -6% | 107.87 Total return 61% · Per year 17% | 176.19 Total return 163% · Per year 38% |
| 5 years | 65.21 Total return -3% · Per year -1% | 142.66 Total return 113% · Per year 16% | 253.71 Total return 279% · Per year 31% |
- Exit P/E± 26.97
- Net margin± 18.88
- Annual revenue growth± 14.08
- Annual dilution± 1.59
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
BK Technologies makes public safety grade two-way land mobile radios that meet the P25 standard, plus BK ONE smartphone applications for first responders. In fiscal 2025 the company reported net sales of over 86 million USD, up about 12.5% on the prior year, driven by strong demand for the BKR9000 series and a much higher gross margin.
SWOT
Strengths
- Sales growth and a higher gross margin in 2025, supported by product mix and efficiencies at an external manufacturing partner, show solid execution 1.
- The products are CAP-validated as P25 compliant, and the company has a radio line with a reputation among public safety agencies 1.
- The company reported positive operating and net income in 2025 after a weaker prior year, giving it a firmer financial base 1.
Weaknesses
- Near-total dependence on sales to government and public safety customers makes the company vulnerable to budget changes and spending limits 1.
- The company has fewer financial and research resources than most competitors and does not offer complete integrated communications systems 1.
- Demand depends heavily on the BKR series, and the successful launch of further models, such as the all-band mobile radio, remains uncertain 1.
Opportunities
- Expanding the BK ONE applications and SaaS services such as InteropONE and LocateONE could grow Solutions sales and increase demand for radios 1.
- Agency migration to P25, and the standard's role in federal funding, could open new contracts for compliant suppliers 1.
- Broader cellular coverage could create demand for smartphone safety applications, an area where the company already has products 1.
Threats
- Competition from a dominant supplier with far greater resources could limit the company's market share 1.
- Government budget delays or shutdowns and cuts in federal spending could reduce orders or delay payments 1.
- Tariffs and geopolitical tensions could raise the cost of outsourced production and disrupt supply chains 1.
Risks
- Dependence on a single product linehigh
The company depends mainly on LMR products, so a drop in their price or demand could materially affect results 1.
- Dependence on the U.S. Governmenthigh
Losing sales to the U.S. Government would have a material adverse effect, and these contracts are subject to competitive bidding and price pressure 1.
- Competitionmedium
Larger and better-financed competitors could win market share, particularly if they enter with competing P25 products 1.
- Compliance with government contractsmedium
Government contracts involve audits, strict compliance rules and the risk of suspension or debarment, which could reduce revenue or profit 1.
- Technology and product developmentmedium
If the company fails to keep pace with technological change or to launch new products successfully, its market position could suffer 1.
Investment thesis
What would need to be true (bull case)
- If the sales growth and better margins seen in 2025 can be sustained, the company could show that the BKR products and its production mix support higher profitability 1.
- If public agencies continue migrating to P25 and BK ONE applications find customers, the company could extend its customer base beyond radios 12.
- If its P25 compliance translates into new contracts, the company could benefit from a standard that opens the market to smaller suppliers 1.
What would break the thesis
- If government budgets tighten or are delayed, orders could fall quickly given the heavy weight of public customers 1.
- If a larger competitor cuts prices or launches better products, the company could lose share because it lacks comparable resources 1.
- If tariffs or geopolitical tensions raise production costs, margins could be hit, particularly because products are partly made externally 12.
What to watch
- Order and sales trends for the BKR9000 series and the Solutions groupQ3 2026
- Impact of tariffs and any refunds on production costs2026
- State of federal budgets and any interruptions in government funding2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Net sales for 2025 were approximately 86.1 million USD 1, and dependence on government is high: approximately 29% of sales were to agencies and departments of the U.S. Government 1. According to the latest quarterly report, the company now operates one business segment with two product groups within it 2.
The product lines are built on the P25 standard, validated under the DHS CAP program for both the BKR and KNG series 1. Development of the BKR series, which is gradually replacing the legacy KNG products, has been supported by an engineering team of 41 employees 1.
Segments
Radio (LMR)
The Radio product group designs and markets portable and mobile LMR radios, which remain the company's main source of sales. The BKR9000 series, launched in April 2023, was the engine of sales growth in 2025 together with new customers among federal, state and municipal public safety agencies 1.
Solutions (BK ONE)
The Solutions group includes smartphone applications that run over public cellular networks, such as InteropONE, a push-to-talk over cellular service, and LocateONE for personnel and asset tracking. According to the company, these applications complement its radios and can extend their sales reach 1.
Market context
The main market is government and public safety, where nearly all of the company's sales are made 1. Migration to the digital P25 standard is supported by federal grant programs that often require P25 compliance, although government budgets for LMR purchases remain limited 1.
The LMR industry has been constrained by market maturity and limited radio spectrum availability 1. Public safety communications increasingly combine LMR with cellular technology for data applications, and broader cellular coverage could open new opportunities for the company's applications 1.
Trends
- Migration to the digital P25 standardtailwind
The P25 compliance requirement pushes government users to replace analog equipment, which could favour a supplier with CAP-validated products such as BK Technologies 1.
- Expansion of cellular coveragetailwind
Better terrestrial cellular coverage and, later, low earth orbit satellites could extend public safety mobile applications to the first responder's smartphone, benefiting the BK ONE line 1.
- Dependence on government budgetsheadwind
Agency funding depends on annual budgets and spending limits, and wildland fire seasonality can cause quarterly variations in sales 1.
- Tariffs and macroeconomic uncertaintymixed
Tariffs and supply chain disruptions could raise the cost of externally manufactured products, although the company is monitoring tariff refunds and policy changes 2.
Competitive position
The LMR market is dominated by Motorola Solutions, which is estimated to hold well over half of the global LMR market and is the largest supplier of P25 products 1. Competitors are generally larger, with broader sales networks and greater financial, research and marketing resources than BK Technologies 1.
The P25 standard opens the market to smaller suppliers because it reduces the ability of a single supplier to lock out competitors 1. However, competitors have a clear advantage in offering complete integrated communications systems and infrastructure, which BK Technologies does not provide 1.
- Motorola Solutions, Inc.MSI
The largest LMR supplier in the world, with well over half the market and the broadest product range, including P25 products 1.
- Other larger LMR suppliers
Competitors with longer operating histories, greater name recognition and larger financial and technical resources, which can supply complete integrated systems 1.
- Push-to-talk over cellular service providers
Carriers and service providers offering push-to-talk over cellular, though subscribers of different services cannot communicate directly, a gap the InteropONE application targets 1.
- Integrated communications system providers
Companies that deliver complete communications systems and infrastructure, a segment the company states it does not cover 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report13 Oct 2026Other events
- Current report14 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report13 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report13 Aug 2026
- Current report18 Jun 2026Shareholder vote
- Current report14 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report14 May 2026
- Proxy statement23 Apr 2026
- Current report03 Apr 2026Regulation FD disclosure · Financial statements and exhibits
- Current report02 Apr 2026Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / BK Technologies Corporation · 12 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / BK Technologies Corporation · 13 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / BK Technologies Corporation · 14 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.