BIO-key International, Inc. - BKYI STOCK NEWS

The City of Williamsburg, VA, has selected BIO-key's PortalGuard IDaaS platform to enhance its security measures as part of a Zero Trust initiative. BIO-key (NASDAQ: BKYI) provides Identity and Access Management (IAM) solutions that include passwordless, phoneless, and token-less Identity-Bound Biometrics (IBB). The initiative aims to protect sensitive information and ensure critical services amidst increasing cyber threats. BIO-key's advanced multi-factor authentication and biometric solutions will consolidate security vendors, streamline access workflows, and deliver cost savings. The system also eliminates vulnerabilities associated with physical devices, providing a high level of security and usability.

BIO-key International (Nasdaq: BKYI), a leader in Identity and Access Management solutions, reported Q1'24 revenue of $2.2M, consistent with Q1'23 and a 19.5% increase from Q4'23. Gross profit surged to $1.9M, with a gross margin of 86.3% due to higher software license fees and reduced hardware reserve expenses. Operating expenses were cut by over $0.2M. The company reduced its net loss to $0.5M from $1.7M in Q1'23 and achieved positive operating cash flow of $0.3M. Recent deployments include Fargo, ND, and Bridgetown, Barbados. The company remains focused on revenue growth and profitability, leveraging a strong cybersecurity market and its unique passwordless authentication solutions. An investor call is scheduled for June 18th at 10:00am ET.

BIO-key has announced the launch of Passkey:YOU, a biometric FIDO passkey authentication solution designed for environments where phones or tokens are impractical. Targeting sectors like manufacturing and healthcare, Passkey:YOU eliminates the need for FIDO hardware tokens, cutting costs by 50-70%. It uses biometric data or door access badges for authentication, aligning with privacy laws. Passkey:YOU integrates seamlessly with existing IAM platforms, offering a secure and user-friendly authentication method without the need for phones or traditional tokens.

BIO-key International (NASDAQ: BKYI), a leader in Identity and Access Management (IAM) and Identity-Bound Biometric solutions, has announced it will hold its Q1 2024 investor call on Tuesday, June 18th at 10 a.m. ET. The company's Chairman & CEO Mike DePasquale and CFO Cecilia Welch will lead the conference and Q&A session. BIO-key's recent financial highlights include a stock price of $1.76, 2023 revenue of $7.8M, a 10.5% revenue growth, and a market cap of $3.3M. The conference call will provide a platform for discussing Q1 2024 results, which will be released prior to the call. The call can be accessed via dial-in numbers for U.S. and international participants, with a webcast and replay available for three months.

BIO-key, a provider of Identity and Access Management (IAM) and Identity-Bound Biometric (IBB) solutions, will participate in the 2024 Virtual Tech Conference Series on June 4-5, presented by Maxim Group and hosted by M-Vest. CEO Mike DePasquale will join a Fireside chat on June 4th from 9:00 to 9:30 a.m. ET. The conference will feature discussions on how emerging growth companies leverage new technologies like AI. Investors can engage with management and submit questions during the event. Maxim Group, a full-service investment bank, will facilitate the conference, focusing on technological impacts on business growth.

BIO-key International (Nasdaq: BKYI), a provider of identity and access management solutions, received a non-compliance notice from Nasdaq on May 22, 2024.

The company failed to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. This delay is attributed to the ongoing restatement of financial statements for various periods in 2023. The company also remains delinquent in filing its Form 10-K for the period ended December 31, 2023.

BIO-key has until June 17, 2024, to submit a compliance plan to Nasdaq. If accepted, an extension until October 14, 2024, may be granted to regain compliance. The company intends to file the delayed reports soon to meet Nasdaq's listing requirements.

BIO-key International (Nasdaq: BKYI), a provider of Identity and Access Management (IAM) solutions, announced plans to file audited 2023 results and report Q1 2024 results next week. The company will also hold an investor call. Details will be provided once confirmed. BIO-key engaged Bush & Associates CPA on April 23, 2024, as its new independent registered public accounting firm.

BIO-key International, Inc. (NASDAQ: BKYI) has won the Hot Company Multi-Factor Authentication award at the 12th Annual Global InfoSec Awards at #RSAC 2024. The company's IAM platform PortalGuard® offers innovative authentication solutions, including biometric options for maximum security.

BIO-key International, Inc. received a notice of non-compliance from Nasdaq for failing to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The company has 60 days to submit a plan to regain compliance with Nasdaq's listing requirements. If accepted, an extension of up to 180 days may be granted. BIO-key plans to file the Form 10-K promptly to meet Nasdaq's requirements.