Welcome to our dedicated page for BIO-key International news (Ticker: BKYI), a resource for investors and traders seeking the latest updates and insights on BIO-key International stock.
BIO-key International, Inc. (OTCQB: BKYI) is a leading provider of biometric software and hardware authentication solutions for enterprises and consumers alike. Established in 1993, BIO-key has become a trusted name, servicing diverse sectors including Fortune 500 companies, government agencies, healthcare organizations, call centers, schools, retailers, and OEM partners.
BIO-key's product portfolio includes advanced fingerprint biometric identification and identity verification technologies, with popular offerings such as SideSwipe, SidePass, EcoID, and WEB-key. The company's innovative solutions ensure secure and seamless access management, making them a preferred choice for high-security requirements.
In 2016, BIO-key introduced a series of compact fingerprint readers designed for compatibility with Windows Hello. These readers are not only affordable but also easy to install and use, available through major retailers like Amazon, Microsoft, and Dell.com. The company further expanded its consumer reach by launching a series of biometric padlocks at the Consumer Electronics Show in 2017. Their product, TouchLock, received significant acclaim, being featured on over 30 morning television shows.
BIO-key continues to innovate with its 'Biometric of Things' (BoT) initiative, aiming to create a range of biometrically enabled, consumer-friendly products. The company’s focus on the power of a touch drives their mission to enhance security and user experience across various applications.
Financially, BIO-key generates revenue through services, license fees, and other streams. The company remains committed to partnerships and collaborations that expand their market presence and technological capabilities.
One notable partnership is with Humanity International Investments, under the chairmanship of His Highness, Sheikh Marwan bin Mohamed bin Rashid Al Maktoum. This strategic collaboration has led to the launch of the Humanity Protocol, a blockchain-based economic empowerment initiative. The project leverages BIO-key’s biometric palm scan technology to authenticate identities, enabling individuals, particularly in Africa, to claim their digital footprint through Non-Fungible Tokens (NFTs). With over 15,000 palm scans and plans to verify more users, the initiative marks a significant step forward in integrating biometric technology with blockchain for identity verification.
Overall, BIO-key International, Inc. is at the forefront of revolutionizing digital identity and access management, ensuring secure, user-friendly authentication solutions for millions worldwide.
BIO-key International (NASDAQ: BKYI) announced that three higher education institutions - Northeast Iowa Community College, Eastern University, and University of Guam - with over 30,000 users have migrated from on-premises deployments to the PortalGuard IDaaS cloud platform. These institutions join over 50 organizations with 4+ million users who have adopted BIO-key's cloud solution since its November 2020 launch.
The migration to PortalGuard IDaaS enables customers to implement IT infrastructure best practices, streamline operations, improve uptime, and enhance disaster recovery capabilities. The platform offers reduced total ownership costs, strengthened cyberattack protection, and comprehensive visibility into user access across enterprises. The solution supports Zero Trust security frameworks and helps organizations meet stricter IT standards and cybersecurity insurance requirements.
BIO-key International (NASDAQ: BKYI) announced that the National Bank of Egypt (NBE), Egypt's largest financial institution, is implementing BIO-key's PortalGuard identity and access management platform along with an Identity Governance solution. The deployment, managed by Raya Information Technology, will serve NBE's 30,000 employees.
The project integrates PortalGuard's Multi-Factor Authentication and Single Sign-On capabilities to secure and simplify application access. This implementation will eliminate the need for employees to manage 14 separate logins, streamlining access while enhancing security through MFA. The bank plans to extend these capabilities to millions of B2B and B2C customers in the future, incorporating a Security Operations Center with advanced risk analysis tools.
BIO-key International (NASDAQ:BKYI), a provider of identity and access management solutions, will present at DealFlow's Microcap Conference on January 29-30, 2024, at the Borgata hotel in Atlantic City. CEO Mike DePasquale will present on Wednesday at 2:00 PM ET and be available for meetings both days.
The company reported an 18% increase in Q3'24 revenues to $2.1M, primarily driven by higher software license revenue from long-term customers. BIO-key has been pursuing strategic collaborations, including a recent agreement with Fiber Food Systems focused on global food security and food technology, and a planned partnership with Guinn Partners, an engineering solutions provider for robotics and drones. These partnerships aim to integrate BIO-key's IAM solutions with new use cases and expand their market presence.
BIO-key International (NASDAQ: BKYI), a provider of identity and access management solutions, will participate in DealFlow's Microcap Conference on January 29th & 30th, 2025, at the Borgata hotel in Atlantic City. CEO Mike DePasquale will present on Wednesday at 2:00 PM ET and be available for meetings both days.
The company reported an 18% increase in Q3'24 revenues to $2.1M, primarily driven by higher software license revenue from long-term customers. BIO-key has been pursuing strategic collaborations, including recent agreements with Fiber Food Systems for food security and food-technology initiatives, and Guinn Partners for integrating biometric security in robotics and drone systems.
The Microcap Conference, organized by DealFlow Events, is a 3-day event featuring publicly-traded microcaps and qualified private companies across high-growth sectors. The conference offers company presentations, one-on-one meetings, and networking opportunities, with keynote presentations and panel discussions focused on business, investing, and regulatory updates.
BIO-key International (NASDAQ: BKYI) announces its recognition in two Gartner reports highlighting passwordless authentication. The company introduces enhanced MobileAuth options featuring PalmPositive and FacePositive biometric authentication solutions to combat identity fraud. Unlike Apple's biometric systems, MobileAuth restricts access to a single authorized user for apps managed by PortalGuard IDaaS.
The company's PortalGuard Identity-as-a-Service platform supports 17 authentication methods and integrates with major identity platforms like Cisco DUO, ForgeRock, PING, and Microsoft Entra ID. BIO-key claims their solution delivers ROI in approximately 18 months, faster than competing MFA solutions. The company is showcasing these solutions at the 2024 Gartner IAM summit in Grapevine, Texas.
BIO-key International (NASDAQ: BKYI) announced a strategic partnership with Guinn Partners to enhance security in autonomous systems and IoT applications. The collaboration combines BIO-key's biometric authentication technologies with Guinn Partners' engineering expertise in robotics, drones, and electric propulsion systems.
The partnership aims to integrate biometric security into Guinn Partners' platforms, focusing on joint product development and market expansion. A key application includes securing semi-autonomous roadside mowers and eVTOL aircraft systems. The global eVTOL aircraft market, valued at $1.35 billion in 2023, is projected to grow at 54.9% CAGR to reach $23.4 billion by 2030.
The collaboration will implement BIO-key's identity-bound biometrics for phoneless, tokenless, and passwordless authentication, ensuring only authorized personnel can access and manage autonomous fleets.
BIO-key International (NASDAQ: BKYI) has entered into an agreement with Fiber Food Systems, exchanging 595,000 BIO-key shares (19% of outstanding shares) for 5,000,000 shares of Boumarang Inc., strengthening BIO-key's balance sheet with $5M in net assets. The collaboration combines BIO-key's Identity and Access Management (IAM) solutions with Fiber's food tech expertise, aiming to enhance security and efficiency in food service locations. BIO-key's PortalGuard IAM platform, supporting over 35 million users worldwide, will be integrated into Fiber's planned food service operations across schools, universities, and institutional cafeterias.
BIO-key International reported an 18% revenue increase to $2.1M in Q3'24, with improved financial metrics across the board. The company's license revenue grew 52% to $1.4M, while gross profit improved to $1.7M (78.3% margin) from $0.3M in Q3'23. The net loss was reduced to $0.7M compared to $1.8M in Q3'23.
Notable achievements include securing a $910k order from a financial services customer, a $500k follow-on order from an international defense ministry, and expanding British Columbia's deployment by 10,000 users. The company also strengthened its cash position to $1.8M through a warrant inducement agreement raising $1.9M.
BIO-key International (NASDAQ: BKYI), a provider of Identity and Access Management and Identity-Bound Biometric solutions, has scheduled its Q3 2024 earnings conference call for Friday, November 15th at 10 a.m. ET. The company will release its financial results after market close on Thursday. The call will be led by Chairman & CEO Mike DePasquale and CFO Cecilia Welch, featuring a Q&A session.
Investors can join via phone at 1-877-418-5460 (U.S.) or 1-412-717-9594 (International). A webcast replay will be available for 3 months, and audio replay can be accessed using code 7307131 at 1-877-344-7529 (U.S.) or 1-412-317-0088 (International).
BIO-key International (NASDAQ: BKYI) has secured a $910,000 order from a long-term financial services customer to upgrade their biometric identification system. The upgrade will enable fingerprint-only customer identification, eliminating the need for ID numbers, account numbers, or cards, saving approximately 30 seconds per client interaction. The system currently serves over 25 million enrolled individuals. The enhanced solution will be hosted on AWS infrastructure, and following full deployment in 2025, BIO-key expects annual recurring revenue from this customer to increase to $1.4M per year.
FAQ
What is the current stock price of BIO-key International (BKYI)?
What is the market cap of BIO-key International (BKYI)?
What does BIO-key International, Inc. do?
When was BIO-key International, Inc. established?
Who are BIO-key's customers?
What are some popular products offered by BIO-key?
What is the 'Biometric of Things' (BoT) initiative?
How does BIO-key generate revenue?
What is the Humanity Protocol?
Who are BIO-key’s strategic partners?
Where can BIO-key products be purchased?
What type of biometric technology does BIO-key specialize in?
