BIO-key Completes Initial Biometric-Based Identity and Access Management Deployment for New International Defense Agency Customer in Record Time

Rhea-AI Summary

BIO-key International (NASDAQ: BKYI) has successfully completed a rapid deployment of biometric-based Identity and Access Management (IAM) solutions for a new International Defense Agency customer. The implementation, completed in just four days, includes multiple integrated solutions:

• PortalGuard On-Prem for Multi-factor Authentication and Single Sign-On
• WEB-key biometric authentication
• FIPS-certified PIV-Pro and ECO2 Fingerprint Scanners
• Passkey:YOU FIDO2 Authentication for passwordless access

The deployment demonstrates BIO-key's capability to deliver high-security, passwordless and phoneless authentication solutions in critical environments, with planned expansion in the coming months.

Positive

• Secured new International Defense Agency customer
• Record-fast deployment completed in just 4 days
• Planned expansion of deployment indicates potential future revenue growth
• Successfully integrated multiple high-security solutions demonstrating technical capability

Negative

• Financial terms of the deployment not disclosed
• Timeline for planned expansion not specified

Insights

Cybersecurity Analyst

BIO-key's comprehensive deployment for an international defense agency represents a significant achievement in the identity and access management space. Defense agencies typically have the most stringent security requirements, making them challenging customers to acquire but valuable references once secured.

The rapid four-day deployment timeframe is particularly notable, as complex IAM implementations typically require weeks or months. This suggests BIO-key's solution architecture offers exceptional integration capabilities and a well-designed deployment methodology – crucial differentiators in the competitive IAM market.

The multi-layered security approach combining PortalGuard, WEB-key biometrics, FIPS-certified scanners, and FIDO2 Passkeys addresses the most critical aspects of modern authentication security: eliminating password vulnerabilities while providing both the convenience and security of biometric verification. The "passwordless and phoneless" authentication specifically solves a significant security challenge for defense organizations where mobile devices are often prohibited in secure environments.

What sets this implementation apart is its compliance with emerging zero-trust architectures while maintaining operational efficiency. The planned expansion mentioned suggests the initial deployment has met or exceeded the customer's security requirements, validating BIO-key's technical approach in high-security environments.

Financial Analyst

For a micro-cap company like BIO-key with a market capitalization of just $4.06 million, securing an international defense agency as a customer represents a potentially meaningful business development. While the contract value remains undisclosed, defense sector clients typically generate higher-margin business with longer retention rates than commercial customers.

The comprehensive nature of this deployment – incorporating multiple BIO-key products across their portfolio – suggests this isn't merely a pilot project but a significant implementation. For context, even modest defense contracts could represent a material percentage of revenue for a company of BIO-key's size.

Three elements of this announcement warrant investor attention: First, the mention of "planned expansion" indicates potential for additional revenue beyond the initial deployment. Second, the multi-product nature of the sale demonstrates BIO-key's ability to cross-sell their solution stack. Third, defense contracts often serve as reference customers that can accelerate sales cycles with similar security-focused organizations.

The exceptionally rapid deployment timeline (four days) also suggests potential for improved operational efficiency in BIO-key's implementation process, which could enhance margins if replicated across future customer deployments. For a company trading near $1.09 per share, building a defense sector customer base represents a potential pathway to revenue stability and growth.

Solution Features PortalGuard On-Prem, WEB-key Biometric Software, FIPS Certified Fingerprint Scanners, and Passkey:YOU FIDO2 Passkeys

MADRID, Spain and HOLMDEL, N.J., March 26, 2025 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), a global leader in Identity and Access Management (IAM) and biometric authentication solutions has successfully completed the deployment of a comprehensive suite of BIO-key biometric-based IAM solutions for a new International Defense Agency customer. The full deployment for the initial sites was completed in just four days, showcasing the efficiency, seamless integration, and collaboration between BIO-key and the customer’s IT team.

The deployment incorporates these BIO-key solutions:

• PortalGuard On-Prem – A highly secure IAM platform providing Multi-factor Authentication (MFA) and Single Sign-On (SSO) capabilities.
• WEB-key – Advanced biometric authentication enabling secure and seamless access to critical systems.
• BIO-key PIV-Pro and ECO2 Fingerprint Scanners – FIPS-certified biometric scanning devices ensuring high-security access control.
• Passkey:YOU FIDO2 Authentication – Enabling passwordless, phishing-resistant authentication for compliance with modern security standards.

The implementation demonstrates BIO-key’s expertise in delivering high-security, passwordless and phoneless authentication solutions for critical environments.

Alex Rocha, International Managing Director at BIO-key, commented, "This project is a testament to the power of innovative thinking, cutting-edge technology and strong partnerships to forge highly secure and efficient passwordless and phoneless access management. Despite the complexity of the solution, our teams worked together seamlessly to complete the deployment in record time. The customer now benefits from a highly secure, scalable authentication system that enhances security while simplifying access. We look forward working with the customer on the planned expansion of this deployment in the coming months."

Nelson Junior, Technical Manager at BIO-key International, added "Completing a project of this scale in just four days is a major accomplishment. It underscores the seamless integration capabilities of BIO-key’s IAM solutions and the dedication of our team. The success of this deployment reflects our ability to provide fast, secure, and scalable authentication solutions that meet the highest security standards."

About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its cloud-hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.

BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include factors set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements, whether as a result of new information, future events, or otherwise.

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Investor Contacts
William Jones, David Collins
Catalyst IR
212-924-9800
BKYI@catalyst-ir.com

FAQ

What solutions were included in BIO-key's (BKYI) recent defense agency deployment?

The deployment included PortalGuard On-Prem, WEB-key biometric authentication, FIPS-certified fingerprint scanners, and Passkey:YOU FIDO2 authentication for passwordless access.

How long did it take BIO-key (BKYI) to complete the defense agency implementation?

BIO-key completed the initial deployment in just four days, demonstrating rapid implementation capabilities.

What security features does BIO-key's (BKYI) defense agency solution provide?

The solution provides Multi-factor Authentication, Single Sign-On, biometric authentication, FIPS-certified scanning, and passwordless, phishing-resistant authentication.

Is BIO-key (BKYI) planning to expand the defense agency deployment?

Yes, BIO-key has confirmed plans to expand the deployment in the coming months.