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BIO-key International, Inc. reports developments in identity and access management software, biometric authentication technology, and related security hardware. The company’s updates center on cloud-hosted and on-premise PortalGuard IAM, biometric-centric multi-factor authentication, Passkey:YOU, and devices such as Pocket 10 Finger Scanners and Mobile POS Pro. Customer news includes software license renewals, public-sector channel partnerships, defense deployments, and retail-bank biometric identification programs.
Financial and corporate updates also cover operating results, revenue contributions from services, license fees, and hardware, Nasdaq listing compliance, periodic-report timing, and share-structure actions such as the company’s 1-for-10 reverse stock split.
BIO-key International, Inc. (BKYI) announced a strategic partnership with Progreso Networks & Security Pte. Ltd. to deliver Identity and Access Management (IAM) solutions across Southeast Asia. This partnership leverages BIO-key's PortalGuard platform, which provides multi-factor authentication and identity-bound biometric solutions. Progreso, with strong expertise in cybersecurity, aims to replicate BIO-key's success in new markets. The collaboration comes at a time when there's a significant demand for cybersecurity solutions in the Asia-Pacific region, addressing the shortage of professionals in the field.
BIO-key International (NASDAQ: BKYI) has announced a strategic partnership with TD SYNNEX Public Sector to deliver its advanced identity and access management solutions, including PortalGuard, to government agencies across various levels. This collaboration aims to enhance cybersecurity measures amid increasing threats targeting government organizations. TD SYNNEX's extensive network of government resellers will facilitate the distribution of BIO-key's Identity-Bound Biometrics solutions, addressing the critical need for secure IAM solutions in the public sector.
BIO-key International (NASDAQ: BKYI) has been selected by Citrus and Sumter Counties in Florida to implement its PortalGuard platform, aimed at enhancing security and compliance for county elections. The increasing cybersecurity threats faced by public sectors necessitated this decision, with BIO-key's solutions offering robust identity and access management (IAM) capabilities. PortalGuard's multi-factor authentication combines convenience with stringent security protocols, positioning BIO-key as a key player in safeguarding important data.
BIO-key International, Inc. (Nasdaq: BKYI) reported a 6% revenue increase to $1.4M for Q3 2022 and a 26% year-to-date revenue rise to $5.3M, driven by software licenses and service fees. However, lower hardware sales impacted growth. The company expanded its global presence, securing customers in various sectors, while also launching the Mobile Authenticator App. Yet, they projected slower than expected sales, adjusting full-year revenue expectations to $7M-$9M. Operating expenses surged to $3.3M, leading to a net loss of $2.4M. Despite challenges, they remain optimistic about future growth and market opportunities.
BIO-key International (NASDAQ: BKYI) announced a conference call on November 15th, 2022, at 10 a.m. ET to review its Q3 results, which will be released on November 14th after market close. The call will feature key management members, including CEO Mike DePasquale and CFO Cecilia Welch. The company specializes in identity and access management (IAM) solutions, leveraging Identity-Bound Biometrics (IBB) technology for large-scale identity solutions. The updated audio replay code for the conference call is 8070313.
BIO-key International, Inc. (NASDAQ: BKYI) announced a conference call to discuss its Q3 results on November 15, 2022, at 10 a.m. ET. This call will follow the pre-market release of the quarterly results. Key executives, including Chairman & CEO Mike DePasquale and CFO Cecilia Welch, will lead the discussion. Investors can join via dial-in or an online webcast, which will be available for replay for three months. BIO-key emphasizes its expertise in identity and access management solutions, highlighting its patented software and cloud solutions.
BIO-key International, Inc. (BKYI) announced its expanding footprint of the PortalGuard Identity-as-a-Service (IDaaS) within the California Community College System. Notably, Santa Rosa Junior College, with around 20,000 students, is migrating to the PortalGuard IDaaS cloud solution, allowing efficient use of IT budgets by eliminating on-premises hosting costs. This IAM platform enhances security for educational institutions facing significant cyber threats, especially amid remote learning growth. BIO-key aims to support colleges in mitigating cybersecurity risks and streamlining operations.
BIO-key International will showcase its Identity and Access Management (IAM) and Identity-Bound Biometric (IBB) solutions at the EDUCAUSE Annual Conference from October 25-28 in Denver, Colorado, at Booth 871. The company emphasizes its award-winning PortalGuard IAM platform, used by over 200 educational institutions, featuring advanced multi-factor authentication, single sign-on, and password reset capabilities. As cyberattacks in the education sector have surged by 44% over 2021, BIO-key aims to support institutions in enhancing their cybersecurity strategies.
BIO-key International, Inc. (NASDAQ: BKYI) announced that six county governments across Kansas, Virginia, New Mexico, Florida, South Dakota, and New York have adopted its PortalGuard IDaaS platform to enhance data security and compliance amidst increasing ransomware threats. The company collaborates with the National Association of Counties to address cybersecurity challenges and promote flexible multi-factor authentication and Identity-Bound Biometrics. BIO-key's solutions, including PIV-Pro fingerprint readers and the MobileAuth app, offer robust security for county systems and data.
BIO-key International (NASDAQ: BKYI) has been selected by a large auto group in the Southwestern US to implement its PortalGuard® IDaaS platform. This decision supports compliance with the FTC's Safeguards Rule aimed at protecting consumer financial data. The PortalGuard platform enhances security through multi-factor authentication (MFA), improving user satisfaction by reducing password fatigue. This collaboration highlights BIO-key's role in providing effective identity and access management (IAM) solutions for compliance and security across various industries.