BIO-key’s enhanced biometric technology automates and streamlines the positive identification of customers at various contact points within its branches. BIO-key’s solution was originally selected following exhaustive testing to confirm both accuracy, scalability and scanner interoperability for security and future growth in enrollment. Approximately 90% of the contract value relates to subscription fees for the current client base over the next two years and the balance is for anticipated client growth over the first year of the term. A future payment will be due based on growth in the second year of the agreement.
About
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-eight million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; 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 convert sales opportunities to customer contracts; our ability to expand into
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Facebook – Corporate: | https://www.facebook.com/BIOkeyInternational/ |
LinkedIn – Corporate: | https://www.linkedin.com/company/bio-key-international |
Twitter – Corporate: | @BIOkeyIntl |
Twitter – Investors: | @BIO_keyIR |
BIO_keyIR |
Investor Contacts
Catalyst IR
BKYI@catalyst-ir.com or 212-924-9800
Source:
2024 GlobeNewswire, Inc., source