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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 its membership in the Amazon Web Services (AWS) Partner Network on June 21, 2022. This partnership aims to enhance identity and access management (IAM) solutions in the cloud, promoting scalability and reduced operational overhead. BIO-key will benefit from the AWS ISV Accelerate Program, allowing faster sales cycles by co-selling with AWS. Customers like Allan Hancock College and Orange Bank & Trust Company have successfully transitioned to BIO-key's PortalGuard IDaaS, realizing significant operational efficiencies and cost reductions.
BIO-key International, Inc. (Nasdaq: BKYI), a leading provider of identity and access management (IAM) solutions, will participate in the H.C. Wainwright Global Investment Conference 2022. The company's presentation will be available on demand starting May 24th at 7 AM ET. CEO Mike DePasquale will conduct virtual investor meetings on May 25th and 26th. Registration for the event can be completed through H.C. Wainwright’s website. BIO-key specializes in biometric authentication technology, delivering innovative, secure identity management solutions for organizations worldwide.
BIO-key International, Inc. (Nasdaq: BKYI) reported Q1 2022 results with revenue at $1.94M, up 3% year-over-year, driven by a 205% growth in software license fees. The company acquired Swivel Secure Europe, adding $368K in revenue in March. Despite a gross profit increase to $1.6M, operating loss widened to $1.0M due to higher expenses from R&D and acquisition costs. The firm maintains a strong outlook, projecting 2022 revenue between $10M and $13M, largely from recurring software licenses, supported by its successful PortalGuard platform and market awards.
BIO-key International, Inc. (NASDAQ: BKYI) will discuss its first quarter results in a conference call on May 16, 2022, at 10 a.m. ET. The earnings report will be available pre-market that morning. Key executives, including Chairman & CEO Mike DePasquale and CFO Cecilia Welch, will present during the call. Investors can access the live webcast or replay for three months, ensuring transparency in performance evaluation. The company specializes in Identity-Bound Biometrics and has extensive experience in identity and access management solutions.
BIO-key International (NASDAQ: BKYI) has announced that Kimberly Biddings, their VP of Product, has been recognized by CRN as one of the top Women of the Channel for the second consecutive year. This accolade honors her contributions and leadership in the IT channel, specifically in recruiting and nurturing channel partners within BIO-key's Channel Alliance Partner Program.
Under her guidance, the CAP Program has expanded, showcasing growth opportunities in the Identity-Bound Biometrics and PortalGuard platform. Biddings’ dedication underscores the company's commitment to channel excellence.
BIO-key International (NASDAQ: BKYI) announced that YYK Enterprises Operations has chosen its PortalGuard IAM platform to enhance authentication security for military and commercial applications. This decision aligns with US Government security requirements, aiming to improve user satisfaction through passwordless login and multi-factor authentication. The solution utilizes BIO-key's PIV-Pro fingerprint readers for accurate biometric authentication. YYK's IT Manager praised the long-term partnership potential, while BIO-key expressed enthusiasm for supporting their military and commercial clientele.
BIO-key International (NASDAQ: BKYI) has announced significant updates to its MobileAuth™ multi-factor authentication mobile app, integrating Identity-Bound Biometrics (IBB) for enhanced security. The app now supports palm scanning and facial recognition, along with existing biometric methods like Apple Face ID and Android Biometrics. These updates address the limitations of traditional MFA approaches, which are prone to cyberattacks. MobileAuth aims to provide risk prevention, flexibility, and cost efficiency, making it ideal for various use cases, including remote work and customer identity management.
BIO-key International, Inc. (BKYI) announced its participation in the EDUCAUSE Cybersecurity and Privacy Professionals Conference from May 3-5, 2022, in Baltimore, Maryland, and online on May 11-12. Attendees can explore BIO-key's IAM and Identity-Bound Biometric solutions, including the award-winning PortalGuard platform and MobileAuth MFA app. With growing cyber threats in the education sector, the company aims to enhance cybersecurity measures through multi-factor authentication and live demonstrations. Kimberly Biddings, VP of Product, highlights the importance of effective cybersecurity protocols.
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