Welcome to our dedicated page for Bio-Key Intl news (Ticker: BKYI), a resource for investors and traders seeking the latest updates and insights on Bio-Key Intl stock.
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. (NASDAQ: BKYI) announced that the City of Brawley, CA has selected its PortalGuard IDaaS® platform to enhance security for web application and workstation access. The decision underscores the growing adoption of BIO-key's identity and access management (IAM) solutions in the public sector, which aims to support zero trust initiatives and protect sensitive data from cyber threats. The PortalGuard platform offers advanced biometric authentication and multi-factor options to improve user experience while securing critical systems. This partnership reflects BIO-key's commitment to providing cost-effective security solutions for organizations under budgetary constraints.
BIO-key International (NASDAQ: BKYI) has announced a strategic distribution partnership with Bravantic Group to enhance its Identity and Access Management (IAM) solutions in Southern Europe, Africa, Brazil, and the Middle East. Bravantic, a company with over 2,500 customers and $100 million in revenue, will join BIO-key's Channel Alliance Partner program. This partnership aims to leverage Bravantic's established presence in regions such as Portugal and the UK, boosting BIO-key's reach and service offerings. BIO-key's solutions include the PortalGuard platform and biometric hardware, promising to deliver secure and innovative cybersecurity services.
BIO-key International, Inc. (NASDAQ: BKYI) has announced that Robeson County, NC has selected its PortalGuard IDaaS platform to enhance security for desktop and application access. This decision comes as part of ongoing efforts to bolster cybersecurity measures, aligning with regulatory requirements. The Platform is also utilized by Robeson Community College. The implementation includes BIO-key's FIDO security keys for Microsoft Windows access, which enhances workstation login security. This partnership emphasizes BIO-key's leadership in providing multi-factor authentication and Identity-Bound Biometrics, ensuring a seamless user experience and strong security protocols.
BIO-key International, Inc. (NASDAQ: BKYI) announced four new Higher Education customer migrations to its PortalGuard IDaaS® cloud platform from on-premises PortalGuard deployments. The institutions migrating include Cerritos College, Coastal Carolina Community College, College of the Mainland, and Lassen Community College. This migration will eliminate hardware costs and improve identity and access management (IAM) efficiency. The company emphasizes the importance of this service as Higher Education institutions face increased cyber threats. Mark Cochran, President of BIO-key, highlighted the solution's flexibility, security, and cost-effectiveness for the institutions.
BIO-key International (NASDAQ: BKYI) announced that Abraham Baldwin Agricultural College (ABAC) has chosen its PortalGuard IDaaS platform to enhance identity and access management across its systems. This cloud-based solution supports over 3 million users in higher education and significantly improves security through multi-factor authentication (MFA) and single sign-on (SSO). These enhancements are crucial as educational institutions are frequent cyberattack targets. The implementation of PortalGuard will also lower help desk costs by enabling self-service password resets, offering a solid return on investment.
BIO-key International, Inc. (NASDAQ: BKYI) announced it received a continued listing deficiency notice from Nasdaq due to its share price not meeting the $1.00 minimum requirement for 30 consecutive trading days. This notification, issued on January 13, 2023, does not immediately affect its Nasdaq listing. BIO-key has until July 11, 2023, to regain compliance by maintaining a share price above $1.00 for ten consecutive days. If unsuccessful, BIO-key may qualify for a further 180-day extension if it meets certain criteria. The company remains optimistic about its revenue growth and customer pipeline, as stated by CEO Mike DePasquale.
BIO-key International (NASDAQ: BKYI) announced that National Louis University has chosen its PortalGuard IDaaS platform to enhance security and user experience for accessing institutional applications. The implementation aims to replace a legacy system and improve cybersecurity compliance across multiple campuses, including remote access. The solution offers flexible multi-factor authentication to combat cyber threats. Mark Cochran, President of BIO-key, highlighted the importance of effective IAM solutions for higher education institutions facing increasing cyber vulnerabilities.
BIO-key International, Inc. (BKYI) has been selected by Orleans County, NY, for its PortalGuard IDaaS platform to enhance data security amidst rising ransomware threats. The county sought a cost-effective multi-factor authentication solution that avoids personal phone usage and high user costs. BIO-key's biometric solution will improve security for Microsoft Windows access and fulfill cyber insurance requirements. The platform offers features like Multi-Factor Authentication and Self-service Password Reset, ensuring a user-friendly experience while addressing security challenges.
BIO-key International, Inc. (NASDAQ: BKYI) announced key management appointments effective January 3, 2023, with Galen Rodgers as VP of Channels and Chad Carter as VP of North America Sales. These moves precede the planned retirement of Chief Revenue Officer Fred Corsentino. Rodgers brings over 20 years of experience in cybersecurity and channel sales, previously managing significant revenue at Ping Identity. Carter has over 25 years in security and networking, recently overseeing sales at Wallix. CEO Michael DePasquale emphasized the importance of these appointments in driving revenue growth in North America.
BIO-key International, Inc. (BKYI) announced a $2.2M secured promissory note with AJB Capital Investments LLC, bearing 10% interest for six months. The funding aims to bolster general working capital. CEO Michael DePasquale expressed confidence in the company’s outlook for 2023, highlighting anticipated SaaS revenues of $7M and a strong customer pipeline. The note includes provisions for a commitment fee paid in shares and a warrant for stock purchase. A registration statement for resale of shares will be filed within 180 days.