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 ...

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 - For Q3 2025, gross revenue was $0.6 million, up from $0.2 million in the previous year, while net revenue was negative $0.1 million compared to positive $0.2 million last year due to revenue adjustments [18][19][20] - Operating expenses increased to $5.1 million from $3.8 million year-over-year, primarily due to increased headcount in sales and R&D [23] - Net loss for the quarter was $5.2 million, compared to a net loss of $3.4 million in the same period last year [23] - Remaining performance obligation (RPO) decreased to $3.6 million, down approximately $10.9 million from the prior quarter [24] - Adjusted EBITDA loss was $4.1 million for Q3, compared to a $2.9 million loss for the same period last year [24][25] Business Line Data and Key Metrics Changes - The company signed two large enterprise customers and two smaller customers in Q3, resulting in $200,000 in booked annual recurring revenue (BAR) [6][10] - The gross amount of BAR signed in Q3 2025 was $0.2 million, down from $1.15 million a year ago, attributed to longer sales cycles for enterprise deals [25][26] Market Data and Key Metrics Changes - The company is actively engaged with notable industry leaders across various sectors, representing over $20 million in BAR [10] - The market is increasingly valuing biometric solutions, with a growing demand for identity verification and security solutions [16] Company Strategy and Development Direction - The company aims to build a balanced portfolio of Fast 100 and FAT 100 companies, focusing on larger, established enterprise organizations [4][10] - The strategic focus includes enhancing partnerships and technology innovations, such as PrivacyKey and IDX, to drive enterprise adoption [13][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth despite current challenges, emphasizing the importance of maintaining relationships with strategic customers [21][22] - The company anticipates a recovery in RPO and revenue as it closes deals in its pipeline [24][28] Other Important Information - The company has made significant product breakthroughs to unlock enterprise adoption, particularly for large enterprise accounts [13] - The demand for biometric solutions is expected to grow, with the company positioned as a leader in the market [16] Q&A Session Summary - No specific questions or answers were documented in the provided content, as the session was not detailed in the transcripts [30][31]

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]

Core Insights - BIO-key International, Inc. has secured a significant deployment with a major defense-sector security organization in the Middle East, enhancing its presence in high-assurance government and defense environments [1][2]. Group 1: Deployment Details - The contract is one of BIO-key's largest security-sector deployments in the region, aimed at strengthening access security and streamlining credential management through biometric-based authentication without reliance on mobile devices or hardware tokens [2]. - The deployment is facilitated by a strategic partnership with Cloud Distribution, a Saudi-based Value-Added Distributor, which combines BIO-key's IAM solutions with local cybersecurity expertise [3]. Group 2: Strategic Commitment - The deployment underscores BIO-key's commitment to supporting national security and critical infrastructure protection in the Middle East, reflecting the trust in its technology for securing sensitive environments [4]. Group 3: Company Overview - BIO-key is a leader in biometric-centric, multi-factor identity and access management (IAM) software, securing access for over 40 million users and offering various authentication options, including phoneless, tokenless, and passwordless solutions [5].

Core Insights - BIO-key International, Inc. has partnered with IT2Trust to enhance its presence in the Nordic market, focusing on delivering advanced Identity and Access Management (IAM) solutions with local expertise and cybersecurity leadership [1][2][5] Company Overview - BIO-key is a leader in biometric authentication and IAM solutions, securing access for over 40 million users with a range of authentication options including phoneless, tokenless, and passwordless methods [6] - IT2Trust is a prominent distributor of IT security and networking solutions in Scandinavia, providing consulting, training, and support services to strengthen digital resilience and compliance for enterprises and public organizations [5] Partnership Details - The collaboration will enable IT2Trust to distribute and support BIO-key's full portfolio of IAM and biometric authentication products, enhancing identity protection and regulatory compliance across Denmark, Sweden, Norway, and Finland [2][3] - This partnership is seen as a natural progression in BIO-key's European growth strategy, combining local market knowledge with global innovation to help organizations protect their data and digital future [5] Product Offerings - BIO-key's IAM solutions include PortalGuard, a comprehensive platform supporting multi-factor authentication (MFA), single sign-on (SSO), and centralized access management [8] - Other products include Passkey:YOU™, a FIDO2-compliant passwordless solution, and Identity-Bound Biometrics (IBB), which binds access to the individual rather than the device [8]

Core Insights - BIO-key International, Inc. is participating in two major cybersecurity events, GITEX Global 2025 in Dubai and 19ENISE in León, Spain, showcasing its biometric-centric Identity and Access Management (IAM) solutions [1][2][3] Group 1: Event Participation - GITEX Global is a premier technology and AI marketplace in the Middle East, featuring over 6,800 companies and 200,000+ attendees from 180 countries, making it an ideal platform for BIO-key to demonstrate its IAM leadership [3][4] - 19ENISE is recognized as Spain's leading cybersecurity forum, bringing together over 4,000 attendees and 173 international speakers, emphasizing cross-border collaboration in the cybersecurity industry [5][6][7] Group 2: Technology Demonstration - BIO-key will showcase its Identity-Bound Biometrics (IBB), PortalGuard IAM, and Passkey:YOU™ solutions, promoting a passwordless, phoneless, and tokenless future for organizations in various sectors [2][8] - The company's technology aims to enhance digital identity security while reducing authentication friction and costs [2][8] Group 3: Strategic Goals - BIO-key's participation in these events underscores its commitment to helping organizations achieve NIST2 compliance and protect critical infrastructure through its biometric IAM technologies [8] - The leadership team will engage with customers and partners to expand collaborations across the EMEA region [8][9]

Core Insights - BIO-key International, Inc. is participating in two major cybersecurity events, GITEX Global 2025 in Dubai and 19ENISE in León, Spain, showcasing its biometric-centric Identity and Access Management (IAM) solutions [1][2][3] Group 1: Event Participation - GITEX Global is a premier technology and AI marketplace in the Middle East, featuring over 6,800 companies and 200,000+ attendees from 180 countries, making it an ideal platform for BIO-key to demonstrate its IAM leadership [3][4] - 19ENISE is recognized as Spain's leading cybersecurity forum, bringing together over 4,000 in-person attendees and 173 international speakers, emphasizing cross-border collaboration in the cybersecurity industry [5][6][7] Group 2: Technology Demonstration - BIO-key will showcase its Identity-Bound Biometrics (IBB), PortalGuard® IAM, and Passkey:YOU™ solutions, promoting a passwordless, phoneless, and tokenless future for organizations in various sectors [2][8] - The company's technology aims to enhance digital identity security while reducing authentication friction and costs, thereby transforming the user experience [2][8] Group 3: Strategic Importance - Participation in these events underscores BIO-key's commitment to supporting organizations in achieving NIST2 compliance and enhancing digital trust through its biometric IAM technologies [8] - The leadership team will engage with customers, partners, and cybersecurity leaders to expand collaborations across the EMEA region [8]

Core Insights - Himax Technologies, Inc. is showcasing its WiseEye™ ultralow power AI technology with palm vein authentication capabilities at Sectech Sweden 2025, emphasizing its focus on security solutions [1][2] Product Features - WiseEye™ palm vein authentication provides a contactless and hygienic user experience, enabling rapid identity verification in under 100 milliseconds, with a False Acceptance Rate (FAR) below 1% [2] - The technology employs on-device AI for real-time palm vein recognition, ensuring maximum privacy by eliminating biometric data storage and complying with GDPR [2] - The WiseEye PalmVein Module is certified to PSA Level 2, indicating compliance with rigorous industry security standards [2] Expanded Offerings - Himax will unveil a bimodal authentication solution that combines palm vein and facial recognition, designed for smart door locks to enhance security and user convenience [3] Company Overview - Himax Technologies is a leading global fabless semiconductor solution provider, specializing in display imaging processing technologies and holding a significant market share in automotive display technology [5] - The company has a diverse product portfolio, including display driver ICs, timing controllers, and AI sensing technology, with a focus on consumer electronics and AIoT applications [5] - As of September 30, 2025, Himax holds 2,586 patents granted and 371 patents pending approval worldwide [5]