Bio-Key Intl Inc Stock Price, News & Analysis

BIO-key International (NASDAQ: BKYI) has launched the MobilePOS Pro, a handheld biometric-enabled Android Point of Sale terminal. This device features an FBI-certified fingerprint scanner, thermal printer, 5MP camera, and supports multiple connectivity options. MobilePOS Pro is designed for secure transactions in banking, healthcare, and social services, thereby reducing fraud risks. The product is available for immediate shipment and has already been deployed in Africa. This advancement signifies BIO-key’s commitment to enhancing mobile POS transactions through biometrics.

BIO-key International reported Q2 2021 results with a remarkable 223% revenue increase to $992k, attributed primarily to higher license fees. The company accelerated cloud-based identity management adoption, expanding its customer base to 55+ with the California Community College System. Significant product innovations include the MobileAuth app and the SSO Concierge feature. Financially, gross profit surged to $753k, and gross margin improved to 76%. Despite a net loss of $1.2M, there’s optimism for future growth with a predicted revenue range of $8M to $12M for 2021.

BIO-key International, Inc. (NASDAQ: BKYI) will hold a conference call on August 17, 2021, at 10 a.m. ET to discuss its second quarter 2021 results. The financial results will be released after market close on August 16, 2021. The call will feature key executives including Mike DePasquale, the Chairman & CEO, and Cecilia Welch, the CFO. Interested participants can dial in at 1-877-418-5460 for U.S. callers or 1-412-717-9594 for international callers. A live webcast will also be available along with a replay for three months.

BIO-key International (NASDAQ: BKYI) announced participation in the NACo Annual Conference from July 8-12, 2021, in Maryland. The event highlights cybersecurity as a priority for county officials facing threats like ransomware. BIO-key will showcase its PortalGuard IAM platform and provide live demonstrations at booth 302. Kimberly Johnson, VP of Product, will discuss connectivity solutions at the CIO Forum. The company emphasizes cost-effective cybersecurity measures for counties, aiming to combat breaches and improve IT productivity amid rising cyber threats.

BIO-key International (NASDAQ: BKYI) announced that its PortalGuard^® Identity-as-a-Service (IDaaS) platform won the “Identity Management Solution of the Year” at the 2021 RemoteTech Breakthrough Awards. This accolade highlights the platform's robust capabilities in identity and access management, featuring multi-factor authentication and unique Identity-Bound Biometrics. PortalGuard IDaaS has demonstrated rapid growth, driven by demand for enhanced security solutions in various sectors including education, healthcare, and finance. The recognition underscores the platform's critical role in the evolving remote work landscape.

BIO-key International, Inc. (NASDAQ: BKYI) has launched SSO Concierge, an upgrade to its PortalGuard platform, enhancing identity and access management (IAM) solutions with single sign-on (SSO) capabilities. This development aims to simplify user experience by eliminating the need for multiple passwords, especially for thick client applications that lack federated identity management. The new feature offers robust security with over 16 multi-factor authentication options, significantly improving productivity and reducing IT support demands. This positions BIO-key as a leader in IAM solutions for complex enterprise environments.

BIO-key International, Inc. (BKYI) has announced that Rio Hondo College in California has adopted its PortalGuard IDaaS platform to enhance security and user experience for over 19,000 students accessing multiple applications, including Microsoft Office 365. By implementing Single Sign-On and Multi-Factor Authentication, the college aims to reduce password fatigue and improve mobile access. PortalGuard IDaaS not only streamlines user authentication but also offers a cost-effective solution, minimizing the need for extensive IT management and fostering better security protocols.

BIO-key International (NASDAQ: BKYI) announced a channel alliance with UVS Infotech, enhancing its identity and access management (IAM) solutions in higher education and federal sectors. UVS Infotech added BIO-key's PortalGuard IAM solution to the Maryland Education Enterprise Consortium (MEEC), which comprises over 200 institutions. The partnership aims to address security needs and explore federal opportunities. Besides Maryland, UVS operates in Virginia, recognized by the Virginia Community College System (VCCS), allowing participation in federal projects under $4M.