BIO-Key International Inc
NASDAQ:BKYI
BIO-Key International Inc
BIO-key International, Inc. engages in the provision of identity and access management (IAM) platform. The company is headquartered in Wall Township, New Jersey and currently employs 51 full-time employees. The firm's products include PortalGuard and PortalGuard identity-as-a-service (IDaaS) enterprise IAM, WEB-key biometric civil and large-scale ID infrastructure, and accessory hardware to customers. PortalGuard IDaaS offers flexible single sign-on and authentication options to meet users' security goals and deliver an optimized user experience. WEB-key is a scalable biometric service management platform, incorporating key functions for regulatory compliance, enrollment, authentication or identification, and integrity in a multi-tenant private or public cloud delivery platform. The company also offers biometric software integration application programming interfaces (APIs), allowing software developers to leverage its platform to securely embed biometric multi-factor authentication (MFA), into their own products.
BIO-key International, Inc. engages in the provision of identity and access management (IAM) platform. The company is headquartered in Wall Township, New Jersey and currently employs 51 full-time employees. The firm's products include PortalGuard and PortalGuard identity-as-a-service (IDaaS) enterprise IAM, WEB-key biometric civil and large-scale ID infrastructure, and accessory hardware to customers. PortalGuard IDaaS offers flexible single sign-on and authentication options to meet users' security goals and deliver an optimized user experience. WEB-key is a scalable biometric service management platform, incorporating key functions for regulatory compliance, enrollment, authentication or identification, and integrity in a multi-tenant private or public cloud delivery platform. The company also offers biometric software integration application programming interfaces (APIs), allowing software developers to leverage its platform to securely embed biometric multi-factor authentication (MFA), into their own products.
Revenue: Q3 2025 revenue was $1.5 million, down from $2.1 million in Q3 2024, due to timing of large customer orders.
Recurring Revenue: Annual recurring revenue (ARR) is currently estimated at $6–7 million, with customer churn in the single digits.
Margins: Gross margin remained strong at 77%, only slightly lower than last year, with software margins above 90%.
Operating Expenses: Operating expenses decreased by over 10% year-to-date, and 8% in Q3, supporting lower breakeven.
Cash Position: Post-quarter, BIO-key raised approximately $3 million in cash, boosting liquidity.
Growth Drivers: Strong momentum and pipeline in defense, banking, and regulated sectors; large contract renewals and expansions expected in 2026.
Product Updates: Major PortalGuard platform upgrade and new EcoID III fingerprint scanner launched, aimed at regulated industries.
Partner Network: Expanding Channel Alliance Program in EMEA is expected to drive future growth.
