BIO KEY INTERNATIONAL INC
For the period ended Nov 14, 2025. Filed Nov 14, 2025.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Nov 14, 2025 · Filed Nov 14, 2025
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Contents
EX-99.1 · Recent Highlights
Recent Highlights
| ● | Launched its next-generation EcoID III USB fingerprint scanner, delivering FBI FAP 20 certification, enhanced security, liveness detection and encrypted device-to-host communication. |
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| ● | Partnered with IT2Trust, one of Scandinavia’s most established IT security and networking solutions providers to increase its access to key accounts across Denmark, Finland, Norway and Sweden. |
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| ● | Showcased Solutions at Premier Tech and Cybersecurity Events in Europe, the Middle East and Africa, including Dubai, Spain and South Africa. |
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| ● | Secured a significant new deployment, including advanced biometrics and multi-factor authentication technologies for a Middle East defense sector organization. |
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| ● | Shipped/recorded $134,000 of additional hardware and license orders in Q4’25 to a foreign defense ministry to secure biometric access to critical information, after $600k in follow-on orders recorded in Q2’25. BIO-key expects additional opportunities as this long-time customer expands its deployment of BIO-key’s solutions. |
| ● | Raised $3.1M in gross proceeds, before fees and related expenses, from a warrant exercise agreement with an existing institutional investor on October 27, 2025. Net cash proceeds and shares issued in the transaction are not reflected in the Q3’25 financial statements. |
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BIO-key CEO, Mike DePasquale commented, “We had particular strength in the year-ago quarter which made for tough Q3 comparison this year. We reported total revenues of $1.55M in Q3’25, compared to $2.14M a year ago. Q3’24 benefitted from two large orders one from a long-time banking customer, which was more of a catch-up for the repaid expansion of their deployment, and one from a long-time defense industry customer. In aggregate, revenue from these two customers was approximately $665,000 higher in Q3 last year, resulting in the year-over year revenue variance. Another $134,000 order was received from the defense industry customer in October.
“Additionally, though we have moved much of our business to an annually recurring Software as a Service (SaaS) model, we typically recognize approximately 80% of software license fee revenue in the quarter it is deployed, resulting in some lumpiness around the timing of larger contracts.
“Given normal seasonality, we do expect an uptick in activity in our European business following the holiday slowdown in Q3. We expect to close out the year on a strong note as we make progress advancing our channel sales efforts particularly in Europe and the Middle East, where our sales efforts are refocused solely on BIO-key branded solutions.
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