For more, let's bring in David Kennedy, former NSA and Marine Corps hacker hacker and founder of cyber security firm Trusted SE. David, it's good to see you again. And I will say as a different guest was leaving last week, another CEO, he he sort of looked back and said to me, you know, I'm worried about cyber and and that really struck a chord.This is something that obviously CEOs are spending a bit of time on and what should they do. Yeah, Kelly, this is the first time where we're we're actually having a, ...

Core Insights - BIO-key International, Inc. has formed a strategic partnership with TD SYNNEX Public Sector to enhance identity and access management solutions for government agencies [1][2][4] Group 1: Partnership Details - The partnership aims to provide a streamlined procurement path for government entities to adopt Zero Trust architectures and phishing-resistant multi-factor authentication [2] - BIO-key's PortalGuard IAM platform and Passkey:YOU™ biometric solutions will be integrated into DLT's portfolio, facilitating easier deployment of identity security solutions [2][3] Group 2: Strategic Importance - This collaboration is seen as a significant milestone for BIO-key in advancing its mission to enhance government security through Identity-Bound Biometrics [4] - The partnership is expected to improve cybersecurity posture, reduce risk, and provide secure access to critical systems for government agencies [4][5] Group 3: Technical Capabilities - Key capabilities offered through the partnership include compliance with various regulations such as Criminal Justice Information Services (CJIS), HIPAA, and NIST SP 800-171 [3] - BIO-key's solutions include identity-bound biometrics, centralized control via the PortalGuard platform, and support for over twenty authentication methods [7][8]

Core Insights - Trust Stamp is focusing on significant growth in 2026 through acquisitions, customer base expansion, and service offerings enhancement [1] - The company has entered into non-binding letters of intent for two M&A transactions with firms from the UK National Cybersecurity Center's startup program, aiming to close these deals by the end of February 2026 [2] - The acquired companies will provide critical technology and expertise, enhancing existing products and creating new offerings, particularly in AI solutions and crisis training [3][4] Financial and Market Developments - Trust Stamp completed a financing round in Q4 2025 to secure working capital for growth initiatives in 2026 [1] - The proposed M&A transactions will result in less than 2.5% dilution of the current share capital, with minimal cash impact [2] - The company anticipates substantial economic potential from its Stablecoin-focused Wallet of Wallets (WoW) product, with plans for a market launch in Q1 and Q2 2026 [5] African Market Engagement - Trust Stamp has received its first Purchase Order for the Irreversibly Transformed Identity Token (IT2) from a major African telecommunications company, expected to generate 7-figure annual recurring revenue (ARR) [7] - Discussions are ongoing with another telecom provider in Africa, and the company is pursuing similar opportunities across the continent [8] - The company is collaborating with the Nigerian government to identify areas for technology implementation, with a visit planned for February 2026 [9][10] Technology and Product Development - Enrollment on the Orchestration Layer platform in the U.S. has reached 112 institutions, with a 20% increase in transaction volumes [11] - Trust Stamp's engagement with an S&P 500 bank is projected to generate gross annualized revenues between $2.4 million and $2.7 million in 2026 [12] - The company is expanding its identity authentication services in the healthcare sector, with ongoing negotiations for implementations in the EU [14] Intellectual Property and Innovation - Trust Stamp has completed proofs of concept for new biometric technologies, including touchless palm capture and multi-biometric solutions [18] - The company is developing tools to combat AI-powered attacks and plans to submit innovations for third-party certification in Q2 2026 [19] - Recent patent developments include a new patent for multifactor authentication systems, enhancing the company's intellectual property portfolio [20][21]

Google Confirms ‘Account Takeovers’—Change This Chrome Setting NowGoogle warns that “defending against account takeovers” is getting harder, as hackers intensify their efforts to steal passwords, multi-factor authentication tokens and cookies. https://t.co/2e3G6YDrIW ...

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]

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]

Security Vulnerability - Flock 表示约 3% 的执法部门客户未使用多因素身份验证 [1] - 这可能导致数十个执法机构账户面临风险，容易受到攻击和不当访问 [1]

There are many different proof-of-human mechanisms that you can layer on top of each other. They have different and hence complementary failure modes.Use as many as you can cheaply introduce. From 2FA to MFA, multi-factor authentication.Steven Sinofsky (@stevesi):@balajis How do you solve the realID and association with an account problem (in case authentication is breached)? Or does this depend on algorithmic determination of bot'ness? ...