BIO-key International, Inc. Common Stock

BIO-key reported a second quarter GAAP loss of $0.56 per share on revenue of $1.92 million, up 12.9% year over year. The company said it is pleased with its progress and expects continued growth in the second half, supported by a solid pipeline and a large hardware order expected by year-end. BIO-key added that top line growth and financial discipline should position it to achieve profitability in the second half.

BIO-key International and its Portuguese partner Visualforma have been awarded a contract to strengthen digital identity security for a Portuguese national security agency. The deployment includes BIO-key’s PortalGuard identity and access management platform, WEB-key biometric authentication, Identity-Bound Biometrics, PIN:You secure PIN-based authentication, and EcoID III FBI-certified fingerprint scanners. The solution combines centralized identity management with multiple authentication methods to enable secure access for authorized personnel while reducing operational complexity and strengthening cyber resilience. This award marks a significant expansion of the companies’ long-standing collaboration within the Portuguese public sector, extending into one of the country’s most security-sensitive environments.

The Central Bank of Jordan is working with BIO-key International on a national initiative to modernize client authentication across Jordan’s financial sector, which serves a population of 11.6 million. The initiative aims to reduce and eventually eliminate reliance on passwords, tokens, and other traditional credentials by adopting biometric-first authentication tied directly to an individual’s identity. BIO-key will provide its PortalGuard and WEB-key technologies to enable secure biometric authentication across digital and financial environments. The Central Bank of Jordan selected BIO-key based on its biometric expertise and proven experience supporting large-scale deployments across financial institutions in EMEA. The scope, implementation framework, and timeline are currently being developed, with additional details to be announced as the initiative progresses.