BKYI

Investor Call Announcement: BIO-key International, Inc. will host its Q4 2024 investor call on March 27th at 10 a.m. ET, with results released before the market opens.

Company Overview: BIO-key specializes in Identity and Access Management solutions, offering biometric authentication for over forty million users, enabling secure access through various methods including phoneless and passwordless options.

Partnership Announcement: BIO-Key International Inc. has partnered with California's Ed Tech JPA to provide phone-less, tokenless authentication for 195 K-12 schools and 2.6 million students, enhancing cybersecurity and simplifying access to digital resources.

Stock Performance: Following the partnership announcement, BKYI shares rose by 5.05% to $1.25, with a noted 52-week high of $3.68 and a low of $0.52, indicating potential investor interest in the company's growth within the education sector.

BIO-key's PortalGuard IDaaS Adoption: BIO-key International announced that three new educational institutions have migrated to its cloud-based PortalGuard IDaaS platform, joining over 50 organizations with more than 4 million users, enhancing security and operational efficiency.

Shift Towards Cloud Solutions: The increasing threat of cyberattacks and stricter IT standards are driving organizations to adopt flexible, scalable cloud solutions like PortalGuard IDaaS, which supports Zero Trust frameworks and improves resource management while reducing costs.

BIO-Key's Partnership with National Bank of Egypt: BIO-Key International, Inc. is experiencing a stock increase after announcing the deployment of its PortalGuard platform at the National Bank of Egypt, enhancing security through Multi-Factor Authentication and Single Sign-On capabilities.

Future Goals and Market Demand: The company aims to extend PortalGuard's services to millions of consumers and businesses, highlighting the increasing need for advanced identity solutions in the Middle East and Africa, as emphasized by BIO-Key executives.

Deployment of IAM Solutions: The National Bank of Egypt is implementing BIO-key's PortalGuard identity and access management platform, in collaboration with Raya Information Technology, to enhance security and streamline access for its 30,000 employees through multi-factor authentication and single sign-on technologies.

Future Security Enhancements: This initiative aims to not only improve operational security but also prepare for extending secure access capabilities to millions of B2B and B2C customers, thereby addressing the growing demand for advanced identity solutions in the Middle East and Africa.

BIO-key's Upcoming Presentation: BIO-key International, Inc. will present at the Microcap Conference on January 29-30, 2025, in Atlantic City, where CEO Mike DePasquale will discuss the company's recent revenue growth and strategic partnerships aimed at enhancing identity and access management solutions.

Strategic Collaborations: The company has formed collaborations with Fiber Food Systems, Inc. for food security initiatives and Guinn Partners to improve biometric security in advanced engineering applications, highlighting its focus on expanding into new markets.

Recognition and Innovation: BIO-key International has been recognized in two Gartner reports for its advancements in passwordless authentication solutions, emphasizing the importance of secure identity management through its MobileAuth offering, which includes biometric options like PalmPositive™ and FacePositive™.

Flexible Authentication Solutions: The company's PortalGuard IDaaS platform supports various authentication methods to help organizations transition to more secure practices, aiming to balance productivity with security while reducing risks associated with phishing and credential abuse.

Partnership Announcement: BIO-key International has entered into an agreement with Fiber Food Systems, acquiring shares in Boumarang, Inc. to enhance security and operational efficiency in food service environments through biometric identity and access management solutions.

Strategic Benefits: The collaboration aims to streamline operations in high-traffic areas like schools and universities, while promoting innovation and safety in the food tech sector by integrating advanced IAM technology.

Financial Performance: BIO-key International reported an 18% increase in Q3 revenue to $2.1 million, with a notable reduction in net loss and improved cash position, driven by higher license revenue and decreased operating expenses.

Strategic Growth Initiatives: The company secured significant orders post-Q3, expanded its biometric solutions' adoption, and made its products available on the AWS Marketplace, while aiming to enhance shareholder value through recurring revenue streams.

Conference Call Overview: BIO-key International held its Q3 2024 earnings conference call on November 15, 2024, featuring key executives including Chairman & CEO Michael DePasquale and CFO Cecilia Welch, with a focus on forward-looking statements and associated risks.

Forward-Looking Statements Caution: The management emphasized the importance of understanding that forward-looking statements are subject to uncertainties and should not be overly relied upon, as they may change based on future circumstances.

Financial Performance: BIO-key International reported an 18% increase in Q3'24 revenues to $2.1M, driven by a rise in license revenue and improved gross profit margins, resulting in a reduced net loss of $0.7M compared to $1.8M in Q3'23.

Recent Developments: The company secured significant orders for its biometric technology from various clients, including a $910k upgrade order from a financial services customer and a $500k follow-on order from a defense ministry, while also raising $1.9M through warrant inducement.

Investor Call Announcement: BIO-key International, Inc. will host its Q3 2024 investor call on November 15th at 10 a.m. ET, with results released after market close on November 14th.

Company Overview: BIO-key specializes in identity and access management solutions, providing biometric authentication for over 40 million users, offering various secure access options including phoneless and passwordless methods.

U.S. Stock Market Performance: U.S. stocks mostly rose, with the Nasdaq gaining over 150 points, while the Dow slightly declined. Phillips 66 shares fell 5% after reporting mixed quarterly results, and several companies like GlycoMimetics and GeneDx saw significant stock increases due to positive announcements.

Economic Indicators: Job openings in the U.S. decreased significantly, while house prices showed a modest increase. The trade deficit widened, and Texas' service sector activity improved, indicating mixed economic signals.

U.S. Stock Market Performance: U.S. stocks showed mixed results with the Nasdaq Composite gaining over 100 points, while the Dow fell slightly. Pfizer reported strong third-quarter earnings, exceeding expectations.

Global Economic Indicators: European shares declined, and Asian markets closed mixed. Job openings in the U.S. decreased significantly, while wholesale inventories saw a slight decline, indicating varied economic conditions.

U.S. Stock Market Performance: U.S. stocks showed mixed results with the Dow Jones down 0.04%, NASDAQ up 0.06%, and S&P 500 down 0.05%. McDonald's reported better-than-expected earnings, while several companies saw significant stock price changes due to various announcements.

Economic Indicators: Job openings decreased to 7.443 million in September, below estimates, while the FHFA house price index rose by 0.3%. The U.S. trade deficit widened to $108.2 billion in September from the previous month.

BIO-key's New Technology Order: BIO-key International has received a $910,000 order from a financial services customer to upgrade to its "fingerprint only" Biometric Customer Identification Technology, enhancing the identification process for over 25 million enrolled individuals and streamlining client interactions.

Expected Revenue Growth: Following the full deployment of this biometric solution in 2025, BIO-key anticipates an increase in annual recurring revenue from this customer to approximately $1.4 million per year, showcasing the effectiveness of their advanced biometric technology in improving customer experience and security.

BIO-key's Participation in ISC2 Security Congress 2024: BIO-key International, Inc. will sponsor and exhibit at the ISC2 Security Congress in Las Vegas from October 14-16, 2024, where they will present their innovative Passkey:YOU solution, which offers phoneless, tokenless, and passwordless authentication to enhance cybersecurity for diverse user environments.

Focus on Cybersecurity Education: The conference aims to provide continuous education for security professionals, with interactive sessions designed to equip attendees with new strategies and skills to tackle pressing challenges in the cybersecurity landscape.

New Orders from British Columbia: BIO-key International has received new orders to add 10,000 users to its WEB-key software for the province of British Columbia, enhancing secure biometric authentication integrated with Broadcom's SiteMinder infrastructure.

Long-standing Partnership and Innovation: Since 2012, BIO-key has collaborated with British Columbia's cybersecurity team to provide advanced biometric access solutions, emphasizing a phoneless, tokenless, and passwordless approach that enhances security for roving users across various applications and facilities.

Warrant Inducement Agreement: BIO-key International, Inc. has entered into a warrant inducement agreement with an institutional investor for the immediate exercise of outstanding warrants, resulting in approximately $1.9 million in gross proceeds from the sale of 1,030,556 shares at an amended price of $1.85 per share.

New Warrants Issued: In exchange for the warrant exercise, BIO-key will issue new Series A and Series B Warrants to the investor, each allowing the purchase of the same number of shares at the same price, with a five-year expiration and a commitment to file a registration statement with the SEC within 45 days.

Dave & Buster's Earnings Report: Shares of Dave & Buster’s rose 12.7% in pre-market trading after the company reported second-quarter earnings of $1.12 per share, exceeding analyst expectations of 84 cents, although sales slightly missed estimates at $557.1 million.

Stock Movements: Several stocks experienced significant pre-market movements, with CN Energy Group gaining 201.1%, FTC Solar rising 96.9%, and Telesis Bio falling 52.9% due to a delisting notification.