Welcome to our dedicated page for Bio-Key Intl news (Ticker: BKYI), a resource for investors and traders seeking the latest updates and insights on Bio-Key Intl stock.
BIO-key International Inc (BKYI) delivers innovative biometric authentication solutions for enterprise security and identity management. This dedicated news hub provides investors and industry professionals with complete access to official company announcements and verified developments.
Track all critical updates including earnings disclosures, product launches, strategic partnerships, and regulatory filings. Our curated collection ensures efficient monitoring of BKYI's advancements in fingerprint biometrics, identity-as-a-service platforms, and cybersecurity innovations.
Discover updates on key operational areas: deployment of PortalGuard® identity solutions, government sector contracts, and advancements in passwordless authentication technology. Content is rigorously verified to support informed decision-making in the biometrics and cybersecurity markets.
Bookmark this page for streamlined access to BIO-key's latest milestones. Check regularly for authoritative updates on one of the biometric industry's most dynamic providers of hardware and software authentication solutions.
BIO-key International (NASDAQ: BKYI) will showcase its Identity Access Management (IAM) and Identity-Bound Biometric (IBB) solutions at the Identity Week America 2022 Conference in Washington, DC, on October 4-5. Attendees can see BIO-key's PortalGuard IAM platform and the MobileAuth app, which integrates various biometric methods for enhanced security. CEO Michael DePasquale emphasizes the importance of establishing trust in digital transactions. Additionally, new features include facial recognition and enhanced device-based biometric options, supporting broader use cases.
BIO-key International, Inc. (NASDAQ: BKYI) will showcase its Identity and Access Management (IAM) solutions at the 2022 ScanSource Channel Connect from October 2–5 in Nashville, TN. As the exclusive IAM provider for Intelisys, BIO-key aims to strengthen partnerships and highlight revenue opportunities through its innovative offerings, including the PortalGuard IAM platform and MobileAuth multi-factor authentication app. The IAM market is projected to grow at a 14.5% CAGR, reaching over $34 billion by 2028, presenting significant opportunities for BIO-key's partner network.
BIO-key International (BKYI) recently announced the deployment of its AuthControl Sentry to a leading Dutch multinational in the furniture sector. This solution enhances secure single sign-on (SSO) access for suppliers to vital enterprise applications. Incorporating multifactor authentication, it allows users to choose from various authentication methods based on risk. Currently in Phase 1, the rollout aims to extend across the Company's global operations, improving supply chain logistics and efficiency. The deployment underscores BIO-key's commitment to enhancing access security for its clients.
BIO-key International, Inc. (BKYI) has announced a strategic distribution partnership with Multipoint GROUP, aimed at enhancing its presence in Southern and Central Europe and the Middle East. This collaboration will allow Multipoint to provide distribution, pre-sales analysis, training, and full support for BIO-key's Identity and Access Management (IAM) solutions, including biometric authentication technologies. Multipoint operates in 15 countries, expanding BIO-key's market reach and reinforcing its Channel Alliance Partner program, which is focused on delivering robust security solutions worldwide.
BIO-key International (BKYI) announced the deployment of its AuthControl Sentry solution for a major healthcare procurement provider in Riyadh, Saudi Arabia. This implementation will protect around 15,000 users with secure Multi-factor Authentication (MFA) and Single Sign-On (SSO) access to both web and legacy applications. The initiative aims to streamline access and reduce password reset requests, facilitating quicker delivery of healthcare services. The authentication time has decreased from four minutes to one minute for common applications, enhancing productivity in healthcare supply chains.
BIO-key International (NASDAQ: BKYI) announced recent deployments of its PortalGuard IDaaS solution to the University of Arkansas at Fort Smith and multi-factor authentication hardware for the Long Beach Community College District. These institutions face cybersecurity challenges due to a growing volume of digital assets and remote education needs. BIO-key's solutions aim to enhance security while reducing costs associated with multiple vendors. The company emphasizes the financial risks of inadequate cybersecurity, indicating that many institutions operate on limited budgets.
BIO-key International (NASDAQ: BKYI) will showcase its latest innovations in identity management at the Gartner IAM Summit from August 22-24 in Las Vegas.
Highlighted innovations include new authentication methods for the MobileAuth app, featuring FacePositive for facial recognition and enhanced device-based biometrics. Additionally, the PortalGuard IDaaS platform improves user experience with intuitive workflows for Zero Trust environments.
These advancements aim to strengthen security for organizations adapting to remote work and digital transformation.
BIO-key International, Inc. (Nasdaq: BKYI) reported a 96% revenue increase to $1.9M for Q2 2022, driven by higher software license fees and growth in hardware and services revenue. The company achieved a gross profit of $1.2M but saw a decline in gross profit margin to 63%. Total operating expenses rose to $2.8M, leading to a net loss of $1.7M, or $0.21 per share. Despite these losses, BIO-key anticipates full-year revenue guidance of $10-13M, aiming for more than 100% growth over 2021.
BIO-key International (NASDAQ: BKYI) will hold a conference call on August 12, 2022, at 10 a.m. ET to discuss its Q2 results, which will be released pre-market. The call will feature management members including Mike DePasquale, Chairman & CEO, and Cecilia Welch, CFO. For those unable to attend live, an investor webcast will be available for three months following the call. BIO-key provides innovative identity and access management solutions, focusing on Identity-Bound Biometrics.
BIO-key International (NASDAQ: BKYI) has renewed its partnership with Long Island University (LIU), extending a relationship that began in 2015. LIU, which has around 15,000 students across two campuses, will continue utilizing the PortalGuard Identity and Access Management (IAM) platform to enhance its security against rising cyber threats in the education sector. The renewed agreement aims to provide cost-effective security solutions, including multi-factor authentication and single sign-on capabilities, while also leveraging existing security investments.
