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BIO-key International, Inc. - BKYI STOCK NEWS

Welcome to our dedicated page for BIO-key International news (Ticker: BKYI), a resource for investors and traders seeking the latest updates and insights on BIO-key International stock.

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.

News

BIO-key Partners with Ping Identity to Bring its Cutting-Edge Biometric Authentication to Ping Customers

Rhea-AI Summary
BIO-key International, Inc. (Nasdaq: BKYI) partners with Ping Identity to integrate its unique biometric authentication technology with the PingOne Cloud Platform, enhancing security and user experience. The collaboration aims to offer organizations a powerful solution to shape the future of digital identity and contribute to a safer and more frictionless digital world.
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BIO-key Showcasing Unique Identity, Authentication Innovations to Executives at Invite-Only Boston Cybersecurity Summit

Rhea-AI Summary
BIO-key® International, Inc. (Nasdaq: BKYI) announces sponsorship of Boston Cyber Security Summit to showcase its phoneless, tokenless, and passwordless Identity-Bound Biometric (IBB) multi-factor authentication (MFA) solutions. The event targets C-Level & Senior Executives and will feature FIDO2-compliant passwordless authentication options, including phoneless and tokenless MFA, along with traditional MFA approaches. BIO-key's IBB offers a true biometric passwordless authentication solution without the need for phones or tokens, addressing the need for phish-resistant MFA and passwordless authentication for users who cannot use phones or tokens to authenticate.
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BIO-key Awarded $800K Follow-On Order for Biometric User Authentication from Leading Government Defense Ministry

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BIO-key International, Inc. has been awarded an $800k order by a government defense ministry to accelerate the deployment of its biometric authentication solutions. This order, along with previous orders, is expected to be recognized in Q4'23. The defense ministry plans to expand the deployment to over 30,000 users and further programs, potentially leading to future awards. BIO-key's biometric authentication platform integrates with the ministry's virtual desktop infrastructure, providing secure access without the need for phones or tokens.
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BIO-key International Announces Closing of $3.75 Million Public Offering

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BIO-key International, Inc. has closed its public offering of 21,430,000 units, each consisting of one share of common stock and one warrant. The units were sold at a price of $0.175 per unit, resulting in gross proceeds of approximately $3.75 million. The warrants are immediately exercisable at $0.175 per share and will expire in five years. Maxim Group LLC acted as the sole placement agent for the offering.
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BIO-key International Announces Pricing of $3.75 Million Public Offering

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BIO-key International, Inc. announces the pricing of its public offering of 21,430,000 units at a price of $0.175 per unit. The gross proceeds are expected to be approximately $3.75 million. The offering is expected to close on October 31, 2023.
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Montenegro Ministry of Defense Selects BIO-key for Secure Data Access for All Ministry Employees With Multi-factor Authentication and Single Sign-On

Rhea-AI Summary
BIO-key International, Inc. has announced that the Ministry of Defense of Montenegro has deployed AuthControl Sentry for secure IAM for all government employees. The project aims to require MFA for login and simplify the user experience through SSO integration with web and legacy applications. The deployment was managed by REAL security d.o.o, a trusted partner of BIO-key EMEA.
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Logistics Provider ALPI Portugal Selects BIO-key for Secure Data Access, Including Multi-factor Authentication and Single Sign-On, Both Internally and for B2B

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BIO-key International has announced that ALPI Portugal has deployed AuthControl Sentry for enhanced data access security. The solution will utilize Multi-factor Authentication (MFA) access and Single Sign-on (SSO) to secure data access by all internal users, including employees and third-party drivers.
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Digital Authentication and Identity Provider BIO-key Sees Q3 Revenues Rising over 30% to $1.8M on Strength in Software License Fees, Services and Hardware Sales

Rhea-AI Summary
BIO-key International, Inc. announced its Q3'23 results, with revenue rising over 30% to $1.8M, gross profit improving more than 40% to $1.4M, and operating loss improving to approximately ($750,000). Q3'23 net loss per share reduced approximately 72% to ($0.08). The company's CEO expressed confidence in continued growth and improved bottom-line performance in 2024. BIO-key also secured a significant commitment from a long-standing international defense ministry customer.
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BIO-key Sponsors Industry-Leading Cybersecurity Conference, ISC2 Security Congress 2023, in Nashville, TN, October 25 – 27, 2023 (Booth #113)

Rhea-AI Summary
BIO-key International, Inc. will sponsor and exhibit at ISC2 Security Congress 2023, showcasing their phoneless, tokenless, and passwordless IAM solutions. BIO-key's unified IAM platform, PortalGuard®, offers Identity-Bound Biometrics (IBB) authentication, which eliminates the use of phones or tokens. This unique solution addresses the need for strong multi-factor authentication (MFA) and provides high levels of usability and security.
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Identity and Access Management Solutions Provider BIO-key to Participate in Digital Identity Panel at the Maxim Group Virtual Tech Conference, Tues. Oct. 10th at 12:30pm ET

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BIO-key International, Inc. to participate in Virtual Tech Conference Series
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FAQ

What is the current stock price of BIO-key International (BKYI)?

The current stock price of BIO-key International (BKYI) is $1.01 as of December 24, 2024.

What is the market cap of BIO-key International (BKYI)?

The market cap of BIO-key International (BKYI) is approximately 3.8M.

What does BIO-key International, Inc. do?

BIO-key is a provider of biometric software and hardware authentication solutions for enterprises and consumers, offering products like fingerprint readers and identity verification technologies.

When was BIO-key International, Inc. established?

BIO-key was established in 1993.

Who are BIO-key's customers?

BIO-key's customers include Fortune 500 companies, government agencies, healthcare organizations, call centers, schools, retailers, and OEM partners.

What are some popular products offered by BIO-key?

Some popular products include SideSwipe, SidePass, EcoID, WEB-key, and biometric padlocks like TouchLock.

What is the 'Biometric of Things' (BoT) initiative?

The BoT initiative aims to create biometrically enabled, consumer-friendly products that enhance security and user experience.

How does BIO-key generate revenue?

BIO-key generates revenue through services, license fees, and other streams.

What is the Humanity Protocol?

The Humanity Protocol is a blockchain-based economic empowerment initiative that uses BIO-key's biometric palm scan technology for identity verification, allowing individuals to claim their digital footprint through NFTs.

Who are BIO-key’s strategic partners?

One notable strategic partner is Humanity International Investments, led by His Highness, Sheikh Marwan bin Mohamed bin Rashid Al Maktoum.

Where can BIO-key products be purchased?

BIO-key products can be purchased through major retailers like Amazon, Microsoft, and Dell.com.

What type of biometric technology does BIO-key specialize in?

BIO-key specializes in fingerprint biometric technology for identification and identity verification.

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BIO-key International, Inc.

Nasdaq:BKYI

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BKYI Stock Data

3.76M
2.93M
5.58%
9.26%
27.83%
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