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BIO-key Expands Product Line and Market Reach with Launch of FIDO2 Compliant Security Keys in a Variety of Form Factors

09/27/2021 | 07:58am EST

WALL, N.J., Sept. 27, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of Identity and Access Management (IAM) solutions featuring Identity-Bound Biometrics, today announced the immediate availability of an all-new lineup of BIO-key cryptographic security keys compliant with the FIDO2 authentication standard. FIDO2 is the industry’s “something you have” authentication standard addressing the global password problem, standardizing the way applications confirm a person’s possession of a cryptographic hardware key. BIO-key FIDO-keys, an affordably priced FIDO2 security key lineup, offer USB-A, USB-C, NFC, and iOS Lightning compatibility along with FIPS 140-2 certified options with on-device biometric verification, all backed by BIO-key’s US-based support and integration team.

BIO-key FIDO-keys deliver login credentials that are unique across every website and never leave the user’s possession.   This security model eliminates the risks of phishing, all forms of password theft and replay attacks. Combined as a factor option with BIO-key’s “who you are” Identity-Bound Biometrics, these new FIDO2 security keys allow BIO-key customers complete flexibility to choose how they leverage the power of biometrics in strong authentication scenarios. They can choose a device-stored biometric FIDO2 security key, or a centrally-secured remote biometric authenticator using BIO-key’s Identity-Bound Biometrics. Both options are consistent with the FIDO Alliance’s FIDO2 Authenticator Lifecycle Management for IT Administrators white paper.

BIO-key’s FIDO-keys have many secure password-less workflow applications and are fully supported by BIO-key’s award-winning PortalGuard IAM platform, expanding its more than 16 supported authentication methods for Multi-factor Authentication (MFA), Single Sign On (SSO), and Self-service Password Reset. PortalGuard is available in IDaaS or on-premises configurations. FIDO-keys are also accepted for Windows 10 and Azure sign in, as well as the hundreds of applications and WebAuthn services applications that are FIDO2 ready.

“Customers want choices, not limitations, when implementing multi-factor authentication for their workforce and consumer users,” said Michael DePasquale, BIO-key Chairman and CEO. “Adding new FIDO2 security keys to our solutions set expands the already unmatched breadth of strong authentication methods we make available to our customers, providing them a competitively-priced alternative to single-choice hardware vendors,” continued DePasquale.

More information and detailed specifications for FIDO-keys are available on BIO-key’s website.

About BIO-key International, Inc. (www.bio-key.com)
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry leading biometric capabilities, enable large-scale on-premises and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.

BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors'' in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.

Engage with BIO-key:

Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR

BIO-key Media Contact:
Erin Knapp
Matter Communications

Investor Contacts:
William Jones, David Collins
Catalyst IR

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Financials (USD)
Sales 2021 5,58 M - -
Net income 2021 -4,20 M - -
Net cash 2021 13,3 M - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 19,4 M 19,4 M -
EV / Sales 2021 1,10x
EV / Sales 2022 0,17x
Nbr of Employees 34
Free-Float 91,5%
Duration : Period :
BIO-key International, Inc. Technical Analysis Chart | BKYI | US09060C4087 | MarketScreener
Technical analysis trends BIO-KEY INTERNATIONAL, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 2,48 $
Average target price 6,00 $
Spread / Average Target 142%
Managers and Directors
Michael W. DePasquale Chairman & Chief Executive Officer
Cecilia C. Welch Chief Financial Officer
Mira K. LaCous Chief Technology Officer
James Sullivan Chief Legal Officer, SVP-Strategy & Compliance
Thomas E. Bush Director
Sector and Competitors