BK Technologies Corporation

Overview

BK Technologies Corporation (NYSE American: BKTI) is a holding company with an operating subsidiary, BK Technologies, Inc. The company offers two product groups:

• Radio: Design, manufacture, and marketing of two-way land mobile radios (LMRs) and related accessories for government/public safety, homeland security, military, and industrial/commercial customers. Product lines emphasize P25-compliant radios that support digital and analog modes.
• Solutions (BK ONE): Smartphone applications and services that operate over public cellular networks, including push-to-talk, interoperability interfaces, tracking, and portable repeater kits.

Incorporated in 1997, the company adopted its current holding company structure in 2019. Principal offices are in West Melbourne, Florida.

Product and technology

Radio products (BK Technologies)

• Product lines: BKR series and legacy KNG series.
• Frequency bands: VHF, UHF, and 700–800 MHz.
• Modes: P25 digital and analog.
• P25 CAP: BKR and KNG products have been validated under the DHS P25 Compliance Assessment Program for performance and interoperability.

Solutions portfolio (BK ONE)

• InteropONE: PTTOC SaaS that enables group push-to-talk across smartphones and carriers for incident command coordination.
• BKRplay: Interface between InteropONE and BK radios to improve usability and safety.
• LocateONE: Real-time personnel and asset tracking with off-the-grid capability; integrates with Esri ArcGIS for a common operational picture.
• RelayONE: Portable repeater kit for rapid deployment to extend range and improve interoperability.

Intellectual property

• Patents: 5 U.S. patents in force; 4 U.S. and 2 international patent applications pending.
• Trademarks: BK Technologies, BK Radio, BK ONE, BKRplay, and Radios for Heroes.

Markets and customers

• Primary market: Government and public safety (military, police, fire, EMS, homeland security) and international government customers.
• U.S. Government sales: approximately 29% of total sales in 2025 and 38% in 2024.
• Geographic sales:
  • 2025: U.S. $85.0 million; International $1.1 million; Total $86.1 million.
  • 2024: U.S. $74.9 million; International $1.7 million; Total $76.6 million.
• Backlog: $14.2 million as of December 31, 2025; $21.8 million as of December 31, 2024.

Employees and human capital

• Total employees: 120 as of December 31, 2025 (115 full-time).
• Functional breakdown (as of 12/31/2025):
  • 39 in customer service and distribution
  • 6 in direct manufacturing or manufacturing support
  • 41 in engineering
  • 21 in sales and marketing
  • 13 in headquarters, accounting, and human resources
• Primary location: West Melbourne, Florida facility.

Financial snapshot

• Revenue (sales):
  • 2025: $86.1 million
  • 2024: $76.6 million
• Domestic vs. international sales:
  • 2025 U.S.: $85.0 million; International: $1.1 million
  • 2024 U.S.: $74.9 million; International: $1.7 million
• Engineering/R&D expense:
  • 2025: approximately $10.6 million
  • 2024: approximately $7.8 million
  • Capitalized development costs for BKR9500: $2.1 million (2025) vs. $1.3 million (2024)
• Sourcing and procurement:
  • 15.2% of material, subassembly, and product procurements in 2025 were sourced internationally.
  • Of those international procurements, 64.4% were from three suppliers.
• Seasonal factors: Government spending cycles and wildland fire-season spending can cause quarterly variability, particularly in the second and third quarters.
• Regulatory environment: Radio products are regulated by the FCC and similar international bodies; compliance includes spectrum-efficiency mandates and P25 standards and exposure to government procurement regulations and audits.

Capital and corporate

• Credit facility:
  • Original facility dated October 30, 2024: revolving line of credit up to $6.0 million, with an accordion feature up to $10.0 million.
  • Amendment dated October 30, 2025: three-year extension and revised availability under the $6.0 million revolver to allow an accordion up to $14.0 million (subject to conditions).
• Share repurchase program:
  • Authorized December 17, 2021, to repurchase up to $5.0 million of common stock. Repurchases may be made through various methods, have no expiration date, and are funded from cash on hand and operations.

Operations and strategy

• Manufacturing model: Hybrid approach with domestic manufacturing in Florida and use of contract manufacturers; includes supplier management, quality control, and on-site inspections.
• Sourcing strategy: Limited number of manufacturers and suppliers with a portion sourced internationally; focus on supply continuity and supplier relationships.
• Product strategy:
  • Transition from legacy KNG radios to next-generation BKR series (BKR5000, BKR9000, and BKR9500 in development).
  • Expand the Solutions portfolio (InteropONE, LocateONE, RelayONE) to complement radio sales and extend product capabilities through the BK ONE ecosystem.

Summary

BK Technologies designs, manufactures, and sells rugged two-way LMR radios and develops software-based public safety solutions that enable interoperable communications for government and public safety customers. Its radio line supports P25 digital and analog modes across multiple frequency bands, while its Solutions offerings provide smartphone-based push-to-talk interoperability, real-time tracking, and rapid-range extension to improve situational awareness and responder safety. The company operates a blended domestic manufacturing model, maintains a portfolio of patents and trademarks, and derives a meaningful portion of revenue from U.S. government contracts.