Bio-Key Intl Inc Stock Price, News & Analysis

BIO-key International (NASDAQ: BKYI) has announced a strategic partnership with Arrow ECS Iberia, a leading cybersecurity distributor in Spain and Portugal. The partnership, which adds Arrow ECS Iberia to BIO-key's Channel Alliance Partner program, aims to expand the availability of BIO-key's Identity and Access Management (IAM) solutions across the Iberian market.

The partnership will be officially unveiled at the Arrow ECS Event on April 2, 2025, at MEO ARENA in Lisbon, where over 800 partners and cybersecurity experts are expected to attend. BIO-key will showcase their solutions including Multi-factor Authentication (MFA), Single Sign-On (SSO), and Identity-Bound Biometrics (IBB).

Arrow ECS Iberia will provide pre-sales consultation, technical training, and deployment support for BIO-key's solutions, focusing on regulatory compliance with NIS2 and GDPR directives. The partnership targets key industries including financial services, healthcare, critical infrastructure, and the public sector.

BIO-key International (Nasdaq: BKYI) reported its Q4 and full-year 2024 results, showing significant financial improvements despite an 11% revenue decline to $6.9M. The company's strategic shift away from Swivel Secure products to focus on high-margin software solutions led to a 20% increase in software license revenue to $5.2M.

Key financial highlights include:

• Net loss reduced by 49% to $4.3M in 2024
• Gross profit grew to $5.6M in 2024 from $1.4M in 2023
• Operating expenses reduced by 6% to $9.7M
• Cash used in operations decreased 23% to $2.91M

Notable achievements include partnerships with California Ed Tech JPA (reaching 195 institutions), National Bank of Egypt deployment, and securing a $910K financial services contract and $500K in defense ministry orders. The company's focus on passwordless, phoneless, and tokenless authentication solutions shows growing market traction, particularly in EMEA regions.

BIO-key International (NASDAQ: BKYI) has successfully completed a rapid deployment of biometric-based Identity and Access Management (IAM) solutions for a new International Defense Agency customer. The implementation, completed in just four days, includes multiple integrated solutions:

• PortalGuard On-Prem for Multi-factor Authentication and Single Sign-On
• WEB-key biometric authentication
• FIPS-certified PIV-Pro and ECO2 Fingerprint Scanners
• Passkey:YOU FIDO2 Authentication for passwordless access

The deployment demonstrates BIO-key's capability to deliver high-security, passwordless and phoneless authentication solutions in critical environments, with planned expansion in the coming months.

BIO-key International (NASDAQ: BKYI), a provider of Identity and Access Management and Identity-Bound Biometric solutions, has scheduled its Q4 2024 earnings conference call for Thursday, March 27th, 2025, at 10:00 AM ET. The company will release its financial results before the market opens on the same day.

The conference call will feature a presentation and Q&A session led by Chairman & CEO Mike DePasquale and CFO Cecilia Welch. The event will provide investors with insights into the company's performance and strategic initiatives in the identity and access management sector.

BIO-key International (NASDAQ: BKYI) has announced a new partnership with California's Education Technology Joint Powers Authority (Ed Tech JPA), an alliance of 195 K-12 schools serving over 2.6M students. The company's PortalGuard Platform has been approved as an identity management solution following an extensive RFP process.

This partnership is particularly significant given California's recent Phone-Free Schools Act (AB-1326) mandating policies to limit smartphone use in schools by July 2026. PortalGuard offers phone-less and tokenless authentication options, providing up to seventeen authentication methods including biometrics, challenge-response, and door access cards.

The Ed Tech JPA centralizes software procurement for member schools, ensuring compliance with data privacy laws and offering standardized licensing terms. BIO-key's solution will be available to all Ed Tech JPA members at competitive pricing through an easy-to-use web portal.

BIO-key International (NASDAQ: BKYI) has secured a contract with the Wyoming Department of Education (WDE) to implement its PortalGuard IDaaS platform for up to 20,000 staff members. The solution will enhance security and user experience through Multi-Factor Authentication (MFA) and Single Sign-On (SSO) capabilities.

The platform addresses WDE's challenges in managing multiple account credentials and aims to reduce IT support costs, particularly for password resets. Key features include advanced MFA options for improved phish-resistance, a centralized Account Dashboard for users to manage authentication preferences, and an Application Launchpad providing one-click access to digital resources like Google Drive and Microsoft OneDrive. The Administrator Dashboard offers IT teams enhanced control and visibility of user access patterns.

BIO-key International (NASDAQ: BKYI) announced that three higher education institutions - Northeast Iowa Community College, Eastern University, and University of Guam - with over 30,000 users have migrated from on-premises deployments to the PortalGuard IDaaS cloud platform. These institutions join over 50 organizations with 4+ million users who have adopted BIO-key's cloud solution since its November 2020 launch.

The migration to PortalGuard IDaaS enables customers to implement IT infrastructure best practices, streamline operations, improve uptime, and enhance disaster recovery capabilities. The platform offers reduced total ownership costs, strengthened cyberattack protection, and comprehensive visibility into user access across enterprises. The solution supports Zero Trust security frameworks and helps organizations meet stricter IT standards and cybersecurity insurance requirements.

BIO-key International (NASDAQ: BKYI) announced that the National Bank of Egypt (NBE), Egypt's largest financial institution, is implementing BIO-key's PortalGuard identity and access management platform along with an Identity Governance solution. The deployment, managed by Raya Information Technology, will serve NBE's 30,000 employees.

The project integrates PortalGuard's Multi-Factor Authentication and Single Sign-On capabilities to secure and simplify application access. This implementation will eliminate the need for employees to manage 14 separate logins, streamlining access while enhancing security through MFA. The bank plans to extend these capabilities to millions of B2B and B2C customers in the future, incorporating a Security Operations Center with advanced risk analysis tools.

BIO-key International (NASDAQ:BKYI), a provider of identity and access management solutions, will present at DealFlow's Microcap Conference on January 29-30, 2024, at the Borgata hotel in Atlantic City. CEO Mike DePasquale will present on Wednesday at 2:00 PM ET and be available for meetings both days.

The company reported an 18% increase in Q3'24 revenues to $2.1M, primarily driven by higher software license revenue from long-term customers. BIO-key has been pursuing strategic collaborations, including a recent agreement with Fiber Food Systems focused on global food security and food technology, and a planned partnership with Guinn Partners, an engineering solutions provider for robotics and drones. These partnerships aim to integrate BIO-key's IAM solutions with new use cases and expand their market presence.