BK Technologies (BKTI)
Market Price (6/22/2026): $83.53 | Market Cap: $312.5 MilSector: Information Technology | Industry: Communications Equipment
BK Technologies (BKTI)
Market Price (6/22/2026): $83.53Market Cap: $312.5 MilSector: Information TechnologyIndustry: Communications Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24% Attractive yieldFCF Yield is 6.7% Megatrend and thematic driversMegatrends include Public Safety Technology. Themes include Mission-Critical Communications, and Emergency Response Systems. | Key risksBKTI key risks include [1] its heavy reliance on government contracts and spending, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24% |
| Attractive yieldFCF Yield is 6.7% |
| Megatrend and thematic driversMegatrends include Public Safety Technology. Themes include Mission-Critical Communications, and Emergency Response Systems. |
| Key risksBKTI key risks include [1] its heavy reliance on government contracts and spending, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 6/1/2026
BK Technologies (BKTI) stock has lost about 5% since 2/28/2026 because of the following key factors:
1. Negative Investor Reaction to Higher Future Tax Rate Guidance. Despite reporting robust Q1 2026 financial results, including an 11.8% year-over-year revenue increase to $21.3 million and non-GAAP diluted adjusted EPS of $0.88 which surpassed analyst estimates of $0.77, BK Technologies' stock experienced a decline in premarket trading on May 14, 2026. This negative market reaction was largely driven by investor concerns regarding the company's reiterated full-year 2026 outlook, which included an estimated effective tax rate of 26%, a significant increase from 16% in 2025. This higher tax rate is projected to impact diluted EPS by approximately $0.44 per share in 2026, signaling a future earnings headwind.
2. Concerns Over Future Growth Trajectory and Margin Sustainability. While the company achieved a gross margin expansion of over 480 basis points to 51.8% in Q1 2026, concerns emerged regarding the sustainability of this trend and the pace of future growth. Analysts highlighted a "slower growth narrative" for BK Technologies, noting that rising software and research and development demands could pressure margins. Management's commentary also indicated that engineering costs associated with new product development, such as the BKR9500 multiband mobile radio, are not linear and depend on regulatory approvals like FCC clearance (targeted for the second half of 2026), creating uncertainty around expense visibility and variability.
Show more
BK Technologies (BKTI) stock has lost about 5% since 2/28/2026 because of the following key factors:
1. Negative Investor Reaction to Higher Future Tax Rate Guidance. Despite reporting robust Q1 2026 financial results, including an 11.8% year-over-year revenue increase to $21.3 million and non-GAAP diluted adjusted EPS of $0.88 which surpassed analyst estimates of $0.77, BK Technologies' stock experienced a decline in premarket trading on May 14, 2026. This negative market reaction was largely driven by investor concerns regarding the company's reiterated full-year 2026 outlook, which included an estimated effective tax rate of 26%, a significant increase from 16% in 2025. This higher tax rate is projected to impact diluted EPS by approximately $0.44 per share in 2026, signaling a future earnings headwind.
2. Concerns Over Future Growth Trajectory and Margin Sustainability. While the company achieved a gross margin expansion of over 480 basis points to 51.8% in Q1 2026, concerns emerged regarding the sustainability of this trend and the pace of future growth. Analysts highlighted a "slower growth narrative" for BK Technologies, noting that rising software and research and development demands could pressure margins. Management's commentary also indicated that engineering costs associated with new product development, such as the BKR9500 multiband mobile radio, are not linear and depend on regulatory approvals like FCC clearance (targeted for the second half of 2026), creating uncertainty around expense visibility and variability.
Show more
Updated on 6/1/2026
BK Technologies (BKTI) stock has lost about 5% since 2/28/2026 because of the following key factors:
1. Negative Investor Reaction to Higher Future Tax Rate Guidance. Despite reporting robust Q1 2026 financial results, including an 11.8% year-over-year revenue increase to $21.3 million and non-GAAP diluted adjusted EPS of $0.88 which surpassed analyst estimates of $0.77, BK Technologies' stock experienced a decline in premarket trading on May 14, 2026. This negative market reaction was largely driven by investor concerns regarding the company's reiterated full-year 2026 outlook, which included an estimated effective tax rate of 26%, a significant increase from 16% in 2025. This higher tax rate is projected to impact diluted EPS by approximately $0.44 per share in 2026, signaling a future earnings headwind.
2. Concerns Over Future Growth Trajectory and Margin Sustainability. While the company achieved a gross margin expansion of over 480 basis points to 51.8% in Q1 2026, concerns emerged regarding the sustainability of this trend and the pace of future growth. Analysts highlighted a "slower growth narrative" for BK Technologies, noting that rising software and research and development demands could pressure margins. Management's commentary also indicated that engineering costs associated with new product development, such as the BKR9500 multiband mobile radio, are not linear and depend on regulatory approvals like FCC clearance (targeted for the second half of 2026), creating uncertainty around expense visibility and variability.
3. Divergent Analyst Sentiment and Price Target Discrepancies. The stock experienced downward pressure partly due to a mixed and sometimes conflicting outlook from financial analysts. While some analysts maintained a "Strong Buy" consensus rating with a median price target of $97.00 as of late May 2026, implying potential upside, another analyst offered a "Buy" rating but with a lower average price target of $74.00, suggesting a forecasted downside of 9.76% from the stock's price around June 1, 2026. This divergence in professional expectations, further compounded by some technical analyses signaling a "Strong Sell" with significantly lower price forecasts, contributed to market uncertainty and likely impacted the stock's performance.
Show less
BK Technologies (BKTI) stock has lost about 5% since 2/28/2026 because of the following key factors:
1. Negative Investor Reaction to Higher Future Tax Rate Guidance. Despite reporting robust Q1 2026 financial results, including an 11.8% year-over-year revenue increase to $21.3 million and non-GAAP diluted adjusted EPS of $0.88 which surpassed analyst estimates of $0.77, BK Technologies' stock experienced a decline in premarket trading on May 14, 2026. This negative market reaction was largely driven by investor concerns regarding the company's reiterated full-year 2026 outlook, which included an estimated effective tax rate of 26%, a significant increase from 16% in 2025. This higher tax rate is projected to impact diluted EPS by approximately $0.44 per share in 2026, signaling a future earnings headwind.
2. Concerns Over Future Growth Trajectory and Margin Sustainability. While the company achieved a gross margin expansion of over 480 basis points to 51.8% in Q1 2026, concerns emerged regarding the sustainability of this trend and the pace of future growth. Analysts highlighted a "slower growth narrative" for BK Technologies, noting that rising software and research and development demands could pressure margins. Management's commentary also indicated that engineering costs associated with new product development, such as the BKR9500 multiband mobile radio, are not linear and depend on regulatory approvals like FCC clearance (targeted for the second half of 2026), creating uncertainty around expense visibility and variability.
3. Divergent Analyst Sentiment and Price Target Discrepancies. The stock experienced downward pressure partly due to a mixed and sometimes conflicting outlook from financial analysts. While some analysts maintained a "Strong Buy" consensus rating with a median price target of $97.00 as of late May 2026, implying potential upside, another analyst offered a "Buy" rating but with a lower average price target of $74.00, suggesting a forecasted downside of 9.76% from the stock's price around June 1, 2026. This divergence in professional expectations, further compounded by some technical analyses signaling a "Strong Sell" with significantly lower price forecasts, contributed to market uncertainty and likely impacted the stock's performance.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The -4.6% change in BKTI stock from 2/28/2026 to 6/21/2026 was primarily driven by a -11.9% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 87.09 | 83.08 | -4.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 83 | 88 | 7.0% |
| Net Income Margin (%) | 15.7% | 16.0% | 2.1% |
| P/E Multiple | 24.9 | 21.9 | -11.9% |
| Shares Outstanding (Mil) | 4 | 4 | -0.9% |
| Cumulative Contribution | -4.6% |
Market Drivers
2/28/2026 to 6/21/2026| Return | Correlation | |
|---|---|---|
| BKTI | -4.6% | |
| Market (SPY) | 9.2% | 39.9% |
| Sector (XLK) | 38.1% | 33.3% |
Fundamental Drivers
The 29.8% change in BKTI stock from 11/30/2025 to 6/21/2026 was primarily driven by a 19.9% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 63.99 | 83.08 | 29.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 83 | 88 | 7.0% |
| Net Income Margin (%) | 15.7% | 16.0% | 2.1% |
| P/E Multiple | 18.3 | 21.9 | 19.9% |
| Shares Outstanding (Mil) | 4 | 4 | -0.9% |
| Cumulative Contribution | 29.8% |
Market Drivers
11/30/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| BKTI | 29.8% | |
| Market (SPY) | 9.9% | 34.4% |
| Sector (XLK) | 34.1% | 30.1% |
Fundamental Drivers
The 93.8% change in BKTI stock from 5/31/2025 to 6/21/2026 was primarily driven by a 40.5% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 42.87 | 83.08 | 93.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 77 | 88 | 14.2% |
| Net Income Margin (%) | 12.7% | 16.0% | 26.5% |
| P/E Multiple | 15.6 | 21.9 | 40.5% |
| Shares Outstanding (Mil) | 4 | 4 | -4.5% |
| Cumulative Contribution | 93.8% |
Market Drivers
5/31/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| BKTI | 93.8% | |
| Market (SPY) | 28.1% | 22.2% |
| Sector (XLK) | 66.8% | 17.9% |
Fundamental Drivers
The 531.8% change in BKTI stock from 5/31/2023 to 6/21/2026 was primarily driven by a 396.6% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.15 | 83.08 | 531.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 63 | 88 | 40.1% |
| P/S Multiple | 0.7 | 3.5 | 396.6% |
| Shares Outstanding (Mil) | 3 | 4 | -9.2% |
| Cumulative Contribution | 531.8% |
Market Drivers
5/31/2023 to 6/21/2026| Return | Correlation | |
|---|---|---|
| BKTI | 531.8% | |
| Market (SPY) | 85.7% | 26.3% |
| Sector (XLK) | 137.9% | 23.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BKTI Return | -19% | 45% | -26% | 180% | 118% | 11% | 482% |
| Peers Return | 65% | -4% | -10% | -13% | 68% | 22% | 155% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| BKTI Win Rate | 58% | 67% | 42% | 50% | 50% | 67% | |
| Peers Win Rate | 70% | 47% | 47% | 57% | 57% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BKTI Max Drawdown | -68% | -31% | -54% | -26% | -33% | -18% | |
| Peers Max Drawdown | -21% | -38% | -42% | -45% | -38% | -31% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSI, LHX, VSAT, CMTL, RELL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | BKTI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.7% | -18.8% |
| % Gain to Breakeven | 27.8% | 23.1% |
| Time to Breakeven | 18 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -10.3% | -7.8% |
| % Gain to Breakeven | 11.5% | 8.5% |
| Time to Breakeven | 2 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -38.9% | -9.5% |
| % Gain to Breakeven | 63.7% | 10.5% |
| Time to Breakeven | 218 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -41.6% | -6.7% |
| % Gain to Breakeven | 71.3% | 7.1% |
| Time to Breakeven | 481 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -13.6% | -24.5% |
| % Gain to Breakeven | 15.8% | 32.4% |
| Time to Breakeven | 7 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -56.9% | -33.7% |
| % Gain to Breakeven | 132.1% | 50.9% |
| Time to Breakeven | 21 days | 140 days |
In The Past
BK Technologies's stock fell -21.7% during the 2025 US Tariff Shock. Such a loss loss requires a 27.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | BKTI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.7% | -18.8% |
| % Gain to Breakeven | 27.8% | 23.1% |
| Time to Breakeven | 18 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -38.9% | -9.5% |
| % Gain to Breakeven | 63.7% | 10.5% |
| Time to Breakeven | 218 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -41.6% | -6.7% |
| % Gain to Breakeven | 71.3% | 7.1% |
| Time to Breakeven | 481 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -56.9% | -33.7% |
| % Gain to Breakeven | 132.1% | 50.9% |
| Time to Breakeven | 21 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.5% | -19.2% |
| % Gain to Breakeven | 30.8% | 23.8% |
| Time to Breakeven | 17 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -28.7% | -3.7% |
| % Gain to Breakeven | 40.3% | 3.9% |
| Time to Breakeven | 1362 days | 6 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -37.5% | -6.8% |
| % Gain to Breakeven | 60.0% | 7.3% |
| Time to Breakeven | 18 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -25.4% | -17.9% |
| % Gain to Breakeven | 34.1% | 21.8% |
| Time to Breakeven | 142 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -41.4% | -15.4% |
| % Gain to Breakeven | 70.8% | 18.2% |
| Time to Breakeven | 1050 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -84.0% | -53.4% |
| % Gain to Breakeven | 525.0% | 114.4% |
| Time to Breakeven | 160 days | 1085 days |
In The Past
BK Technologies's stock fell -21.7% during the 2025 US Tariff Shock. Such a loss loss requires a 27.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About BK Technologies (BKTI)
BK Technologies Corporation (BKTI) specializes in the design, manufacture, and marketing of wireless communications products. The company's core offerings include two-way land mobile radios (LMR), repeaters, base stations, and associated components and subsystems, which are vital for reliable and secure communication across various professional settings.
The company caters to distinct customer segments through its brand strategy. Its BK Technologies, BKR, and BK Radio brands provide advanced LMR equipment and P-25 digital products primarily to government, public safety, and military applications, addressing mission-critical communication needs. Additionally, the RELM brand offers two-way communication solutions for commercial and industrial concerns, serving clients such as hotels, construction firms, schools, and transportation services.
AI Analysis | Feedback
Here are 1-3 brief analogies to describe BK Technologies (BKTI):
- A niche competitor to Motorola Solutions, focused on providing robust two-way radios and communication systems for government, public safety, and industrial customers.
- The "rugged walkie-talkie" company for first responders and heavy industry, much like a specialized version of Motorola Solutions.
AI Analysis | Feedback
- Two-way Land Mobile Radios (LMR): Wireless communication devices primarily used by professionals in government, public safety, military, and various commercial sectors for two-way voice communication.
- Repeaters: Electronic devices designed to receive weak signals and retransmit them at a higher power to extend communication range.
- Base Stations: Fixed radio transceivers that serve as central communication points for mobile radios within a specific coverage area.
- Related Components and Subsystems: Essential parts and integrated units that support and enhance the functionality of their core wireless communication products.
AI Analysis | Feedback
BK Technologies (BKTI) sells its products primarily to other organizations and entities, rather than directly to individuals or specific large public companies for resale. Based on the company description, its major customers fall into the following categories:
- Government, Public Safety, and Military Agencies: This includes various federal, state, and local government bodies, public safety organizations (such as police, fire, and emergency medical services), and military applications.
- Commercial and Industrial Concerns: This broad category encompasses businesses and organizations in sectors such as hotels, construction firms, schools, and transportation services.
AI Analysis | Feedback
null
AI Analysis | Feedback
John M. Suzuki
President & Chief Executive Officer, Board Director
John Suzuki was appointed CEO of BK Technologies in July 2021. He brings over 35 years of executive-level experience in the mobile communications industry, spanning sales, marketing, operations, product development, and supply chain. Before joining BK Technologies, he served as President and CEO of EF Johnson Technologies, a division of JVCKENWOOD, where he led a doubling of revenue during his four-year tenure. His previous roles include Senior Vice President of Sales at Avtec Incorporated, Vice President of Sales and Marketing at Ultra Electronics 3eTI, and Senior Vice President of Sales at EF Johnson, where he significantly grew state, local, and international businesses. Earlier in his career, he was Vice President, Supply for Ericsson, managing a 400-person team responsible for over $1 billion in revenues, and began his career as a Radio System Engineer at Motorola Canada.
Scott A. Malmanger
Chief Financial Officer and Secretary
Scott Malmanger currently serves as the Chief Financial Officer and Secretary of BK Technologies. He regularly participates in company earnings calls and has been mentioned in recent company announcements regarding executive compensation.
Branko Avanic, PhD
Chief Technology Officer
Dr. Branko Avanic is the Chief Technology Officer at BK Technologies, with over 30 years of experience in leading-edge product development within the Land Mobile Radio (LMR) industry. He oversees all hardware and software engineering activities at the company, including product architecture and strategic technology planning. Prior to his role at BK Technologies, Dr. Avanic held senior positions at Motorola Solutions, including Director and Head Architect of Devices Engineering.
James Teel
General Manager, Solutions Business
James Teel is the General Manager of the Solutions Business at BK Technologies. He possesses over 40 years of experience in the wireless communications industry, with expertise in product development, business strategy, and public safety communications. In his current role, Mr. Teel leads the company's Solutions business unit, which focuses on Software-as-a-Service (SaaS) and traditional software products designed to enhance mission-critical communications.
Stephen Theisen
Senior Vice President & General Manager, Land Mobile Radio Business
Stephen Theisen serves as the Senior Vice President and General Manager of the Land Mobile Radio (LMR) Business at BK Technologies. He is a 25-year veteran of the LMR industry, known for his commitment to delivering mission-critical communication solutions for first responders and public safety agencies. Mr. Theisen has held various leadership roles in sales and marketing at BK Technologies.
AI Analysis | Feedback
Here are the key risks to BK Technologies' business:
- Reliance on Government Clients: A substantial portion of BK Technologies' sales comes from U.S. government agencies, including federal, state, and municipal entities. For example, sales to the U.S. Government represented approximately 38% of total sales in 2024 and 49% in 2023. This reliance makes the company vulnerable to government budget cuts, changes in spending priorities, or deferment of purchases by these key customers, which could materially impact its financial performance.
- Competition and Potential Technological Disruption: BK Technologies operates in the public safety communications sector, which is subject to increasing competition and the constant threat of technological obsolescence. While their traditional Land Mobile Radio (LMR) products are vital for direct radio communications, there is an ongoing concern that newer technologies, such as LTE/5G cellular solutions, could eventually replace or significantly disrupt the LMR market. Although currently viewed as complementary, continued advancements in cellular technology could pose a long-term challenge to the company's core business.
- Product Development and Execution Risk: BK Technologies' future growth is significantly tied to the successful development and launch of new products, such as the upcoming BKR9500 mobile radio, which is a complex engineering project slated for launch in the first half of 2027. Delays, technical issues, or higher-than-expected development costs associated with such critical product launches could harm the company's credibility with customers, impact reported earnings, and hinder its ability to achieve strategic growth targets, including its Vision 2030 objectives to double revenue.
AI Analysis | Feedback
The clear emerging threat for BK Technologies is the increasing adoption and technological advancement of **Push-to-Talk over Cellular (PoC)** solutions. PoC leverages commercial cellular networks (like 4G LTE and 5G) to provide two-way radio functionality, offering an alternative to traditional Land Mobile Radios (LMR).
This threat is particularly pertinent to BK Technologies' RELM branded products, which cater to commercial and industrial concerns such as hotels, construction firms, schools, and transportation services. For these users, PoC offers several advantages including potentially lower infrastructure costs (by leveraging existing cellular networks), broader geographical coverage in some areas, and the ability to integrate with other smartphone functionalities and data services. While traditional LMR still holds significant advantages for mission-critical public safety and military applications (due to dedicated spectrum, direct mode communication, and superior reliability in challenging environments), the continuous improvement in cellular network resilience and PoC application capabilities poses a competitive challenge, particularly for the commercial segment where cost and flexibility can be primary drivers.
AI Analysis | Feedback
The addressable market for BK Technologies' main products and services primarily revolves around the Land Mobile Radio (LMR) market, especially within government, public safety, and military applications, including P25 digital products, as well as two-way communications for commercial and industrial sectors.
Global Land Mobile Radio (LMR) Market
The global Land Mobile Radio (LMR) market was valued at approximately USD 25.24 billion in 2023 and is projected to reach USD 69.11 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 11.84% from 2024 to 2032. Another estimate indicates the global LMR market size was USD 30.4 billion in 2024 and is projected to reach USD 101.9 billion by 2034, with a CAGR of 13.2% during the forecast period. The digital segment dominates this market, driven by superior voice clarity, data capabilities, and enhanced security features.
U.S. Land Mobile Radio (LMR) Market
In the United States, the LMR market was valued at USD 6.60 billion in 2023 and is expected to grow to USD 15.56 billion by 2032, exhibiting a CAGR of 9.99%. North America held the largest revenue share of approximately 38% in the global LMR market in 2023. The U.S. market is significantly driven by government investments in public safety communications, smart city expansions, and the demand for resilient, mission-critical communication systems.
U.S. P25 Public Safety Land Mobile Radio Systems Market
Specifically for P25 digital products, which are crucial for public safety, the U.S. P25 Public Safety Land Mobile Radio Systems Market was valued at USD 415.25 million in 2023. This market is anticipated to reach USD 935 million by 2033, demonstrating a CAGR of 8.46% from 2023 to 2033. The public safety segment is expected to maintain the largest market share within this sector, with significant demand for reliable communication systems in emergency situations.
Broader Two-Way Radio Equipment Market
For the broader two-way radio equipment market, which includes LMR, the global market size was estimated at USD 8.78 billion in 2024 and is projected to grow to USD 18.9 billion by 2035, at a CAGR of 7.22% from 2025 to 2035. Public safety is the dominant application segment, accounting for 45% of the market share, followed by commercial (30%) and industrial (25%) sectors.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for BK Technologies (BKTI) over the next 2-3 years:
- Continued Demand for BKR9000 Multiband Radio: The BKR9000 multiband handheld radio has been a significant driver of revenue and margin growth, with strong order activity from state and local agencies and expanded penetration among Tier 2 and Tier 3 first responders. This product is expected to continue driving growth.
- Launch of BKR9500 Mobile Radio: BK Technologies plans to launch the BKR9500 mobile radio in the first half of 2027. This new product is anticipated to contribute significantly to future revenue, particularly through in-vehicle mobile sales, and is a key part of the company's Vision 2030 growth plan.
- Expansion of Market Share: The company is actively working to expand its market share within the public safety communications sector, targeting a broad range of agencies. Management has outlined a Vision 2030 initiative that aims to double revenues and further increase market share through continued product adoption and strategic execution.
- Strategic Product Development and Innovation: Beyond specific product launches, BK Technologies is committed to continued investment in product development and innovation across its portfolio. This focus aims to enhance its competitive offerings and drive sustainable long-term growth.
- Benefits from Outsourced Manufacturing and Cost Efficiencies: The strategic outsourcing of manufacturing operations and ongoing cost reduction initiatives, while directly impacting gross margins, indirectly support revenue growth by improving profitability and freeing up capital for investment in new product development and market expansion.
AI Analysis | Feedback
Share Repurchases
- BK Technologies authorized a share repurchase program of up to $5 million in common shares on December 21, 2021.
- From October 1, 2025, to December 31, 2025, the company repurchased 19,135 shares for $1.25 million, completing a portion of the previously announced buyback.
- Approximately 19,000 shares of common stock were repurchased during Q4 2025 under its Rule 10b5-1 program.
Share Issuance
- The BK Technologies Corporation 2025 Incentive Compensation Plan and Employee Stock Purchase Plan (ESPP) were approved by stockholders on June 18, 2025, reserving 500,000 shares of common stock for issuance under the 2025 Plan.
Inbound Investments
- As of January 30, 2026, The Vanguard Group disclosed a 5.11% passive ownership stake in BK Technologies Corp.
- Vanguard Group Inc. increased its stake in BK Technologies by 6.6% during Q3 2025, holding 180,099 shares valued at $15,215,000.
- Balentine LLC acquired 89,248 shares of BK Technologies in Q3 2025, valued at approximately $7.54 million, representing about 2.39% of the company.
Capital Expenditures
- BK Technologies capitalized approximately $2.1 million in 2025 and $1.3 million in 2024 for the development of its BKR9500 mobile radio.
- The company invested $359,000 in capital expenditures during Q3 2025.
- Development costs for the BKR 9500 mobile radio will be expensed in 2026, which is projected to reduce reported EPS by approximately $0.50.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| BK Technologies Earnings Notes | 12/16/2025 | |
| Can BK Technologies Stock Hold Up When Markets Turn? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 73.60 |
| Mkt Cap | 4.5 |
| Rev LTM | 2,535 |
| Op Inc LTM | 10 |
| FCF LTM | 322 |
| FCF 3Y Avg | 6 |
| CFO LTM | 798 |
| CFO 3Y Avg | 492 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.3% |
| Rev Chg 3Y Avg | 8.5% |
| Rev Chg Q | 5.2% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | 37.4% |
| Op Inc Chg 3Y Avg | 2.8% |
| Op Mgn LTM | 5.8% |
| Op Mgn 3Y Avg | 5.4% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 18.5% |
| CFO/Rev 3Y Avg | 13.7% |
| FCF/Rev LTM | 12.5% |
| FCF/Rev 3Y Avg | 5.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Land Mobile Radio (LMR) Products and Solutions | 86 | 77 | 74 | 51 | |
| Single segment | 45 | ||||
| Total | 86 | 77 | 74 | 51 | 45 |
| $ Mil | 2025 | 2024 | 2023 | 1996 | 1995 |
|---|---|---|---|---|---|
| Land Mobile Radio (LMR) Products and Solutions | 16 | 8 | -1 | ||
| Other Industries | -1 | -1 | |||
| Paper Manufacturing | 0 | 1 | |||
| Wireless equipment | 2 | 1 | |||
| Specialty Manufacturing | -1 | ||||
| Total | 16 | 8 | -1 | 1 | -0 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Land Mobile Radio (LMR) Products and Solutions | 14 | 8 | -2 |
| Total | 14 | 8 | -2 |
| $ Mil | 1996 | 1995 |
|---|---|---|
| Wireless equipment | 33 | 30 |
| Paper Manufacturing | 12 | 13 |
| Other Industries | 2 | 2 |
| Specialty Manufacturing | 5 | |
| Total | 47 | 51 |
Price Behavior
Price Behavior
| Market Price | $83.08 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 09/07/1984 | |
| Distance from 52W High | -14.3% | |
| 50 Days | 200 Days | |
| DMA Price | $87.89 | $79.17 |
| DMA Trend | up | up |
| Distance from DMA | -5.5% | 4.9% |
| 3M | 1YR | |
| Volatility | 51.2% | 68.5% |
| Downside Capture | 151.19 | 115.09 |
| Upside Capture | 106.32 | 148.12 |
| Correlation (SPY) | 38.1% | 23.5% |
BKTI Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.40 | 1.58 | 1.56 | 1.32 | 1.32 | 1.22 |
| Up Beta | 0.79 | 1.66 | 1.11 | 1.09 | 1.06 | 0.92 |
| Down Beta | 1.15 | 1.81 | 1.82 | 1.66 | 1.54 | 1.32 |
| Up Capture | -110% | 105% | 124% | 158% | 194% | 488% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 6 | 17 | 24 | 62 | 127 | 360 |
| Down Capture | 212% | 224% | 202% | 110% | 104% | 104% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 14 | 24 | 39 | 62 | 122 | 379 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BKTI | |
|---|---|---|---|---|
| BKTI | 80.9% | 69.6% | 1.12 | - |
| Sector ETF (XLK) | 59.9% | 23.1% | 1.96 | 18.3% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 22.9% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 6.1% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -1.9% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 11.9% |
| Bitcoin (BTCUSD) | -40.0% | 42.4% | -1.08 | 7.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BKTI | |
|---|---|---|---|---|
| BKTI | 44.1% | 69.3% | 0.81 | - |
| Sector ETF (XLK) | 22.9% | 25.3% | 0.80 | 23.5% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 25.8% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 3.8% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 10.6% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 15.8% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 11.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BKTI | |
|---|---|---|---|---|
| BKTI | 14.3% | 65.3% | 0.48 | - |
| Sector ETF (XLK) | 25.4% | 24.7% | 0.93 | 15.7% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 17.6% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 1.4% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 11.1% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 11.6% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 3.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/18/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/14/2026 | -3.8% | -3.6% | -4.3% |
| 3/12/2026 | -7.0% | -5.3% | 12.7% |
| 11/6/2025 | 12.2% | 3.0% | -7.6% |
| 8/14/2025 | 42.7% | 48.2% | 64.7% |
| 5/13/2025 | -8.1% | 1.5% | -7.1% |
| 3/27/2025 | 9.3% | 51.2% | 49.0% |
| 11/14/2024 | 11.9% | 20.7% | 26.9% |
| 8/8/2024 | 9.7% | 46.7% | 69.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 12 |
| # Negative | 12 | 13 | 13 |
| Median Positive | 4.6% | 13.8% | 14.4% |
| Median Negative | -5.4% | -5.3% | -8.0% |
| Max Positive | 42.7% | 51.2% | 69.1% |
| Max Negative | -14.8% | -32.3% | -33.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/14/2026 | -3.8% | -3.6% | -4.3% |
| 3/12/2026 | -7.0% | -5.3% | 12.7% |
| 11/6/2025 | 12.2% | 3.0% | -7.6% |
| 8/14/2025 | 42.7% | 48.2% | 64.7% |
| 5/13/2025 | -8.1% | 1.5% | -7.1% |
| 3/27/2025 | 9.3% | 51.2% | 49.0% |
| 11/14/2024 | 11.9% | 20.7% | 26.9% |
| 8/8/2024 | 9.7% | 46.7% | 69.1% |
| 5/9/2024 | -2.7% | 6.2% | 1.5% |
| 3/14/2024 | 6.5% | 22.6% | 20.1% |
| 11/9/2023 | -3.0% | -2.4% | -8.8% |
| 8/10/2023 | -14.8% | -32.3% | -8.0% |
| 5/4/2023 | 0.8% | -2.3% | -2.7% |
| 3/16/2023 | 1.4% | -7.8% | -8.4% |
| 1/4/2023 | -10.0% | -1.2% | 16.0% |
| 11/3/2022 | -1.2% | -10.1% | 10.5% |
| 8/11/2022 | -8.0% | -9.9% | -11.8% |
| 5/12/2022 | 1.3% | 3.9% | 5.6% |
| 3/17/2022 | 4.6% | 6.9% | -6.3% |
| 11/12/2021 | 0.4% | -15.7% | -33.2% |
| 8/12/2021 | -1.2% | -3.7% | -6.5% |
| 5/13/2021 | -11.8% | -13.2% | -29.7% |
| 3/3/2021 | 4.4% | 24.9% | 6.2% |
| 11/12/2020 | 1.7% | 1.7% | 3.3% |
| 8/5/2020 | -3.0% | -4.2% | -8.0% |
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 12 |
| # Negative | 12 | 13 | 13 |
| Median Positive | 4.6% | 13.8% | 14.4% |
| Median Negative | -5.4% | -5.3% | -8.0% |
| Max Positive | 42.7% | 51.2% | 69.1% |
| Max Negative | -14.8% | -32.3% | -33.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/12/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/27/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/14/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/12/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/27/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/14/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/17/2022 | 10-K |
| 09/30/2021 | 11/12/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/13/2021 | 10-Q |
| 12/31/2020 | 03/03/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/13/2020 | 10-Q |
| 12/31/2019 | 03/04/2020 | 10-K |
| 09/30/2019 | 11/06/2019 | 10-Q |
| 06/30/2019 | 08/06/2019 | 10-Q |
Recent Forward Guidance
Updated 5/31/2026Latest: Q1 2026 Earnings Reported 5/14/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 90.00 Mil | 0 | Affirmed | Guidance: 90.00 Mil for 2026 | |||
| 2026 Operating Margin | 50.0% | 0 | 0 | Affirmed | Guidance: 50.0% for 2026 | ||
| 2026 GAAP EPS | 3.15 | 0 | Affirmed | Guidance: 3.15 for 2026 | |||
| 2026 Non-GAAP Adjusted EPS | 3.55 | 0 | Affirmed | Guidance: 3.55 for 2026 | |||
Prior: Q4 2025 Earnings Reported 3/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 90.00 Mil | ||||||
| 2026 Gross Margin | 50.0% | 6.4% | 3.0% | Raised | Actual: 47.0% for 2025 | ||
| 2026 GAAP EPS | 3.15 | 0 | Affirmed | Actual: 3.15 for 2025 | |||
| 2026 Non-GAAP Adjusted EPS | 3.55 | -6.6% | Lowered | Actual: 3.8 for 2025 | |||
Insider Activity
Updated 6/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Suzuki, John M | CEO & President | Direct | Sell | 6122026 | 85.02 | 223 | 18,959 | 3,391,914 | Form |
| 2 | Suzuki, John M | CEO & President | Direct | Sell | 6122026 | 82.56 | 2,777 | 229,268 | 3,312,208 | Form |
| 3 | Avanic, Branko | CTO | Direct | Sell | 9092025 | 68.41 | 2,000 | 136,811 | 750,341 | Form |
| 4 | Avanic, Branko | CTO | Direct | Sell | 9092025 | 68.89 | 2,031 | 139,919 | 893,459 | Form |
| 5 | Ohara, Ellen O | Direct | Sell | 8282025 | 71.72 | 100 | 7,172 | 146,299 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Suzuki, John M | CEO & President | Direct | Sell | 6122026 | 85.02 | 223 | 18,959 | 3,391,914 | Form |
| 2 | Suzuki, John M | CEO & President | Direct | Sell | 6122026 | 82.56 | 2,777 | 229,268 | 3,312,208 | Form |
| 3 | Avanic, Branko | CTO | Direct | Sell | 9092025 | 68.41 | 2,000 | 136,811 | 750,341 | Form |
| 4 | Avanic, Branko | CTO | Direct | Sell | 9092025 | 68.89 | 2,031 | 139,919 | 893,459 | Form |
| 5 | Ohara, Ellen O | Direct | Sell | 8282025 | 71.72 | 100 | 7,172 | 146,299 | Form | |
| 6 | Suzuki, John M | CEO & President | Direct | Sell | 8222025 | 70.00 | 3,000 | 210,000 | 3,002,720 | Form |
| 7 | Ohara, Ellen O | Direct | Sell | 8192025 | 64.11 | 300 | 19,233 | 137,195 | Form |
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Communications Equipment Resources |
| Light Reading |
| Fierce Network |
| Telecoms.com |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 6/21/2026