Partnership enables BIO-key technologies to be localized and delivered across Vietnam via SAVIS Group’s trusted services platformHANOI, Vietnam and HOLMDEL, N.J., Nov. 17, 2025 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), a leading provider of Identity and Access Management (IAM) and biometric authentication solutions, today announced a strategic partnership with SAVIS Group, one of Vietnam’s top information-technology enterprises, specializing in digital signing, identity verification, e ...

Revenue Performance - For the three months ended September 30, 2025, total revenues decreased by 28% to $1,549,706 from $2,144,804 in the same period in 2024[110]. - For the nine months ended September 30, 2025, total revenues decreased by 11% to $4,853,772 from $5,467,293 in 2024[120]. - License revenue decreased by 36% to $917,951 from $1,441,011, attributed to the expansion of long-term customer license deployments in the previous year[112]. - License revenue decreased by 32% to $2,822,796, primarily due to the ramp-up of BIO-key EMEA selling only BIO-key products[122]. - Service revenues increased by 13% to $862,707, driven by a $117,000 or 17% increase in recurring maintenance and support revenue[121]. - Hardware sales decreased by 17% to $363,642 from $436,422, influenced by new customer deployments and inventory reservations[113]. - Hardware sales surged by 117% to $1,168,269, attributed to new customer purchases and sales of previously reserved inventory[123]. Expenses and Costs - Selling, general and administrative expenses decreased by 13% to $1,400,288 from $1,607,925, reflecting reductions in administration and professional services fees[115]. - Selling, general and administrative expenses decreased by 16% to $4,453,362, reflecting reductions in various administrative costs[125]. - Research, development, and engineering costs increased by 5% to $683,620 compared to $652,174 in the prior year, primarily due to professional services and personnel costs[116]. - Research, development, and engineering costs increased by 3% to $1,915,422, mainly due to higher professional services and personnel costs[126]. - Total cost of goods sold increased by 7% to $1,101,666, with hardware costs rising significantly due to increased sales[120][124]. Cash Flow and Financial Position - Net cash used in operations was $2,838,088, while net cash provided by financing activities was $4,456,013, including $3,813,057 from warrant exercises[129]. - As of September 30, 2025, total cash and cash equivalents were $2,039,853, a significant increase from $437,604 at December 31, 2024[139]. - The company requires approximately $830,000 per month to conduct operations and may need additional financing if revenue generation does not improve[140]. - The company is classified as a smaller reporting company and is not required to provide detailed market risk disclosures[142]. Strategic Initiatives - The company plans to expand its role in the IAM market and enhance its suite of authentication options to meet customer needs[100]. - The company aims to grow within government services and highly-regulated industries, anticipating increased demand for security solutions[101]. - The channel alliance program has grown to over 85 participants, contributing to incremental revenues[102]. - The company is actively pursuing strategic acquisitions in the IAM space to enhance its market presence and operational synergies[103]. Profitability - Gross profit margin slightly decreased to 77% from 78% year-over-year[109].

Financial Data and Key Metrics Changes - The company reported Q3 2025 revenue of approximately $1.55 million, consistent with the first two quarters of the year, but down roughly $600,000 compared to the previous year due to timing of larger customer orders [4][14] - Year-to-date revenue for 2025 was slightly under $5 million, reflecting a decrease largely attributed to quarter-to-quarter variability [4] - The net loss for Q3 2025 was $965,000 or $0.15 per share, compared to a net loss of $739,000 or $0.39 per share in Q3 2024 [16] Business Line Data and Key Metrics Changes - License fee revenue decreased to $918,000 in Q3 2025 from $1.4 million in Q3 2024, while service revenue increased slightly to $268,000 [14] - Hardware sales declined to approximately $364,000 in Q3 2025 from $436,000 in Q3 2024 due to timing of shipments [15] Market Data and Key Metrics Changes - The company experienced strong demand in the defense sector, with two of the top four largest global defense agencies using its technology [10] - The company is focusing on expanding its market reach in Europe, the Middle East, and Africa, particularly through channel sales efforts [7] Company Strategy and Development Direction - The company is advancing its channel sales efforts and has engaged an external marketing firm to enhance its marketing strategies and website content [7] - A significant update to the PortalGuard identity platform is expected to be released in late Q1 or early Q2 2026, which represents a major modernization of the platform [8] - The company is focusing on reducing its break-even levels and supporting positive cash flow and profitability [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth prospects for the upcoming year, citing a strong pipeline of opportunities and the potential for significant contract renewals [12][39] - The company noted that the recent U.S. government shutdown did not impact its business operations [37] Other Important Information - The company raised approximately $3 million net of fees through a warrant exercise transaction, enhancing its cash liquidity [13] - Current assets as of September 30, 2025, were $3.7 million, including $2 million in cash, compared to $1.9 million in current assets at the end of 2024 [17] Q&A Session Summary Question: Was the Bank of Egypt win a recurring revenue deal? - Management confirmed it was an initial deployment with expectations for expanded deployment [19] Question: Are margins lower on the Bank of Egypt project due to partnership? - Management stated that gross margins on software remain above 90% [20] Question: What is the current ARR? - Management indicated that the ARR is growing and estimated to be in the $6 million-$7 million range [25] Question: What led to the decision to provide formal guidance? - Management cited confidence from a solid pipeline of opportunities and results from investments in the partner network [33] Question: Did the U.S. government shutdown impact business? - Management confirmed there was no impact from the shutdown [37] Question: Are there any major upcoming renewals in 2026? - Management indicated that there are several renewals and expansions on the horizon [40] Question: What is the status of the Channel Alliance program? - Management emphasized the focus on quality partnerships rather than quantity, with significant players in local markets [41][42]

Financial Data and Key Metrics Changes - The company reported Q3 2025 revenue of approximately $1.55 million, consistent with the first two quarters of the year, but down roughly $600,000 compared to the previous year due to timing of larger customer orders [4][14] - Year-to-date revenue for 2025 was slightly under $5 million, reflecting a decrease largely attributed to variability in order timing [4] - The net loss for Q3 2025 was $965,000 or $0.15 per share, compared to a net loss of $739,000 or $0.39 per share in Q3 2024 [16] Business Line Data and Key Metrics Changes - License fee revenue decreased to $918,000 in Q3 2025 from $1.4 million in Q3 2024, while service revenue increased slightly to $268,000 [14] - Hardware sales declined to approximately $364,000 in Q3 2025 from $436,000 in Q3 2024 due to timing of shipments [15] Market Data and Key Metrics Changes - The company experienced strong demand in the defense sector, with two of the largest global defense agencies using BIO-key technology [10] - The company is focusing on expanding its market reach in Europe, the Middle East, and Africa, particularly through channel sales efforts [7] Company Strategy and Development Direction - The company is advancing its channel sales efforts and has engaged an external marketing firm to enhance its marketing strategies and website content [7] - A significant update to the PortalGuard identity platform is expected to be released in late Q1 or early Q2 2026, which will modernize the platform and improve deployment capabilities [8] - The company is focusing on reducing operating expenses and achieving positive cash flow and profitability, having reduced operating expenses by over 10% in the first nine months of 2023 [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth prospects for the upcoming year, citing a strong pipeline of opportunities and the potential for significant contract renewals [12][39] - The company noted that the recent U.S. government shutdown did not impact its business operations [37] - Management highlighted the importance of biometrics in enhancing security and preventing fraud, positioning the company well in the current market [11] Other Important Information - The company raised approximately $3 million net of fees through a warrant exercise transaction, significantly improving its cash liquidity [13] - As of September 30, 2025, current assets totaled $3.7 million, including $2 million in cash, compared to $1.9 million in current assets at the end of 2024 [17] Q&A Session Summary Question: Was the National Bank of Egypt win a recurring revenue deal? - Management confirmed that it was an initial deployment with expectations for expanded deployment in the fourth quarter [19] Question: Are margins lower on the project with Raya? - Management stated that gross margins on software remain above 90% [20] Question: What is the current ARR? - Management indicated that the ARR is growing and estimated to be in the $6-$7 million range [26] Question: Will the longest U.S. government shutdown impact business? - Management confirmed that there was no impact from the government shutdown [37] Question: What led to the decision to provide formal guidance? - Management cited confidence from a solid pipeline of opportunities and results from investments in the partner network [34] Question: Are there any major upcoming renewals in 2026? - Management indicated that there are several renewals and expansions expected throughout the year [40]

Financial Data and Key Metrics Changes - The company reported Q3 2025 revenue of approximately $1.55 million, consistent with the first two quarters of the year, but down roughly $600,000 year-over-year due to timing of larger customer orders [4][15] - Year-to-date revenue for 2025 was slightly under $5 million, reflecting a decrease compared to the previous year [4] - The net loss for Q3 2025 was $965,000 or $0.15 per share, compared to a net loss of $739,000 or $0.39 per share in Q3 2024 [17] Business Line Data and Key Metrics Changes - License fee revenue decreased to $918,000 in Q3 2025 from $1.4 million in Q3 2024, while service revenue increased slightly to $268,000 [15] - Hardware sales declined to approximately $364,000 in Q3 2025 from $436,000 in Q3 2024 due to timing of shipments [16] Market Data and Key Metrics Changes - The company experienced strong demand in the defense sector, with two of the top four largest global defense agencies using its technology [11] - The company is focusing on expanding its market reach in Europe, the Middle East, and Africa, particularly through channel sales efforts [7] Company Strategy and Development Direction - The company is finalizing a major website overhaul and developing new marketing messaging to enhance its market presence [8] - A significant update to the PortalGuard identity platform is expected to be released in late Q1 or early Q2 2026, which will modernize the platform and improve deployment capabilities [9] - The company is expanding its partner network to enhance market penetration and drive growth [22][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth prospects for 2026, citing a solid pipeline of opportunities and the potential for expanded deployments with existing customers [33][36] - The company is focused on reducing its break-even levels and achieving positive cash flow and profitability [13][44] Other Important Information - The company raised approximately $3 million net of fees through a warrant exercise transaction, significantly improving its cash liquidity [14] - Operating expenses decreased by over 10% through the first nine months of 2023, reflecting cost management efforts [13] Q&A Session Summary Question: Was the National Bank of Egypt deal a recurring revenue deal? - Yes, it was an initial deployment with expectations for expanded deployment in the future [20] Question: Are margins lower on the National Bank of Egypt project due to the partnership with Raya? - No, gross margins on software remain over 90% [21] Question: What is the current ARR? - The current ARR is estimated to be in the $6-$7 million range [26] Question: Will the company provide formal guidance for 2026? - The company is confident in its position and may provide guidance as it becomes more predictable [31][34] Question: Did the U.S. government shutdown impact the business? - No, there was no impact from the government shutdown [35] Question: What is the status of the Channel Alliance program? - The program is growing, focusing on quality partnerships that can deliver significant value [38][39]

Financial Performance - Q3'25 total revenues decreased to $1.55M, down 27% from $2.14M in Q3'24, primarily due to large orders from two long-time customers in the previous year [3][12] - License fee revenue declined by $523,060 to $917,951 in Q3'25 from $1,441,011 in Q3'24, while hardware sales decreased 17% to $363,642 [13] - Total revenues for the three months ended September 30, 2025, were $1,549,706, a decrease from $2,144,804 in the same period of 2024, representing a decline of approximately 28% [27] - BIO-key's Q3'25 net loss was ($964,849), or ($0.15) per share, compared to a net loss of ($738,959), or ($0.39) per share in Q3'24 [16] - The net loss for the nine months ended September 30, 2025, was $2,868,790, compared to a net loss of $2,916,195 for the same period in 2024, showing a slight improvement of 2% [27] - Operating loss for the three months ended September 30, 2025, was $892,190, compared to an operating loss of $580,405 for the same period in 2024, indicating a deterioration of 54% [27] - The company reported a gross profit of $1,191,718 for the three months ended September 30, 2025, down from $1,679,694 in the same period of 2024, a decrease of 29% [27] Assets and Liabilities - At September 30, 2025, total current assets were $3.7M, including $2.0M in cash and cash equivalents, compared to $1.9M at December 31, 2024 [17] - Total current assets rose to $3,745,907 as of September 30, 2025, compared to $1,886,958 at December 31, 2024, reflecting an increase of 98% [25] - Cash and cash equivalents increased to $2,039,853 as of September 30, 2025, from $437,604 at the end of 2024, marking a significant increase of 367% [29] - Total liabilities decreased to $4,068,235 as of September 30, 2025, from $4,843,529 at December 31, 2024, a reduction of approximately 16% [26] - The company’s total stockholders' equity increased to $6,045,078 as of September 30, 2025, compared to $3,772,031 at December 31, 2024, an increase of 60% [26] Future Outlook - The company expects full year revenue for 2025 to be in the range of $6.5M to $7M, with solid growth anticipated in 2026 [11] Product Development - BIO-key launched the EcoID III USB fingerprint scanner, which is FBI FAP 20 certified, enhancing security and liveness detection [6][10] Strategic Initiatives - The company secured a significant new deployment in the Middle East defense sector, enhancing its footprint in high-assurance government environments [8][9] - BIO-key's CyberDefense Initiative aims to capitalize on expected increases in global defense spending, particularly in Europe and the Middle East [7] Shareholder Information - The weighted average common shares outstanding for the nine months ended September 30, 2025, were 5,754,077, compared to 1,726,716 for the same period in 2024, reflecting a significant increase in shares [27] Cash Flow - Cash flow from operating activities for the nine months ended September 30, 2025, was a net cash used of $2,838,088, compared to $2,399,508 for the same period in 2024, indicating an increase in cash outflow of 18% [29] Operating Expenses - Q3'25 gross margin remained strong at 77%, compared to 78% in Q3'24, with total operating expenses decreasing by 7.8% to $2.08M [15] - The company raised $3.1M in gross proceeds from a warrant exercise agreement on October 27, 2025, with 3,091,668 shares purchased at $1.02 per share [20]

Core Insights - BIO-key International, Inc. reported a decrease in total revenues for Q3'25, amounting to $1.55 million, down from $2.14 million in Q3'24, primarily due to the absence of large orders received in the previous year [3][12] - The company anticipates a strong finish to 2025, projecting full-year revenues between $6.5 million and $7 million, with expectations for continued growth into 2026 [11] Financial Performance - Q3'25 revenues decreased by 27.5% year-over-year, driven by a decline in license fee revenue, which fell by $523,060 to $917,951 from $1,441,011 in Q3'24 [12][13] - Hardware sales decreased by 17% to $363,642 in Q3'25 from $436,222 in Q3'24 [13] - Services revenues saw a slight increase to $268,113 in Q3'25 compared to $267,371 in Q3'24, with growth in recurring service revenue offsetting a decline in non-recurring custom service revenue [14] Cost Management - Total operating expenses decreased by 7.8% to $2,083,908 in Q3'25 from $2,260,099 in Q3'24, with SG&A expenses down by 13% [15] - Research, Development, and Engineering (RD&E) expenses increased by 4.6%, reflecting ongoing investment in next-generation products [15] Net Loss and Share Performance - The net loss for Q3'25 was $964,849, or $0.15 per share, compared to a net loss of $738,959, or $0.39 per share, in Q3'24 [16][29] - For the nine months ended September 30, 2025, the net loss improved to $2,868,790, or $0.50 per share, compared to $2,916,195, or $1.69 per share, in the same period of the previous year [16][29] Balance Sheet and Cash Flow - As of September 30, 2025, total current assets were $3.7 million, including $2.0 million in cash and cash equivalents, compared to total current assets of $1.9 million at the end of 2024 [17] - The company raised $3.1 million in gross proceeds from a warrant exercise agreement on October 27, 2025, which is not reflected in the Q3'25 financial statements [19] Strategic Initiatives - BIO-key launched its CyberDefense Initiative to capitalize on expected increases in global defense spending, particularly in Europe and the Middle East [6] - The company secured a significant biometric authentication deployment with a major new customer in the Middle East defense sector, enhancing its presence in high-assurance government and defense environments [7][8]

Core Insights - BIO-key International, Inc. has formed a strategic partnership with VaporVM to enhance its identity and access management solutions across the Middle East and Africa [1][2][4] Group 1: Partnership Overview - The collaboration aims to leverage VaporVM's cloud-native expertise and regional presence to deliver BIO-key's IAM solutions to various sectors [2][3] - VaporVM will integrate BIO-key's IAM and biometric solutions, providing local expertise and technical support [3][5] Group 2: Strategic Goals - The partnership is expected to strengthen cybersecurity measures for enterprises operating on major cloud platforms like AWS, Azure, and Google Cloud [3][4] - BIO-key's Regional Director emphasized the commitment to providing secure and scalable digital transformation solutions [4] Group 3: Company Background - BIO-key specializes in biometric-centric, multi-factor IAM software, securing access for over 40 million users [7] - The company's PortalGuard IAM solution offers various authentication methods, including passwordless options [7][9]

Group 1: Viasat Inc Financial Results - Viasat Inc reported adjusted earnings of 9 cents per share, surpassing market expectations of a loss of 62 cents per share [1] - The company's quarterly sales were $1.141 billion, slightly below the anticipated $1.148 billion [1] - Following the earnings report, Viasat shares increased by 13.2% to $40.54 in pre-market trading [1] Group 2: Notable Gainers - Masonglory Ltd saw a significant gain of 113.5%, reaching $2.03 in pre-market trading after a previous decline of 33% [2] - Integrated Media Technology Ltd rose by 117.1% to $1.59 after a drop of over 15% on Friday [2] - Greenidge Generation Holdings Inc surged 57.6% to $2.38 after securing a 5-year air permit renewal agreement with New York, which includes a commitment to cut emissions by 44% by 2030 [2] Group 3: Other Gainers - Inflarx NV increased by 34.2% to $1.65 after announcing it will present Phase 2a data for its oral C5aR inhibitor on November 10 [3] - Vivakor Inc gained 30.8% to $0.21 following a 12% rise on Friday [3] - Rumble Inc rose 22.2% to $7.20 after finalizing an acquisition deal with Northern Data AG to enhance its cloud computing capabilities [4] Group 4: Notable Losers - Lazydays Holdings Inc fell 38.6% to $0.99 after announcing plans to delist from Nasdaq [6] - CleanCore Solutions Inc declined 30.8% to $0.59 following a request to withdraw its registration statement [6] - Davis Commodities Ltd dropped 18.3% to $1.15 after a significant decline of 78% on Friday [6]

Core Insights - BIO-key International, Inc. is showcasing its passwordless authentication innovations at the Africa Tech Festival 2025, emphasizing its commitment to secure digital identity solutions in Africa [1][2][4]. Company Overview - BIO-key is a leader in biometric-centric Identity and Access Management (IAM), securing access for over 40 million users with its innovative solutions [7]. - The company offers a range of authentication options, including phoneless, tokenless, and passwordless biometric solutions, through its PortalGuard IAM platform [7]. Event Participation - BIO-key will demonstrate its Identity-Bound Biometrics (IBB) and the Passkey:YOU™ solution for personal passwordless authentication at Booth H72 during the event [3][6]. - The participation reflects BIO-key's strategy to support Africa's digital transformation and enhance secure access for governments, enterprises, and citizens [5]. Strategic Goals - The company aims to make enterprise-grade IAM accessible across various industries in Africa, highlighting the region's dynamic approach to digital identity and cybersecurity modernization [4][5].