Security and Authentication Company BIO-key Reports Q1 Financial Results

BIO-key International (NASDAQ:BKYI) security and authentication company announced its first quarter financial results. The company reported revenue figures of US$241,000, a year-over-year decrease. Cash increased to US$459,000 over the quarter.

As quoted in the press release:

“Importantly, BIO-key continues to see increasing customer interest and traction for our biometric authentication solutions. We are also enhancing our sales efforts and resources and already see positive developments that should lead to stronger results in future periods. To date in 2019, we executed several new deployments of our technology, including deployments by internationally recognized police forces in both Dubai and Singapore and a global aerospace and defense contractor that deployed BIO-key’s fingerprint technology.

“Expanding the application scope of our solutions, we introduced ID Director for SAML, a biometric single sign-on solution, which we are targeting toward larger enterprises as well as to identity access management (IAM) providers. We also debuted smart commercial biometric locks with cloud tracking and reporting capabilities at CES 2019 and along with our partners, announced a new smart emergency notification system for schools using biometric data.”

Click here to read the full press release.