BIO KEY INTERNATIONAL INC

BIO-key International, Inc.

Overview

BIO-key International, Inc. provides biometric-enabled identity and access management (IAM) solutions for enterprise, education, and government customers. Its offerings include biometric multi-factor authentication (MFA), single sign-on (SSO), and identity lifecycle management that can run in cloud, on-premises, or hybrid environments without requiring tokens or phones.

Products and services

• PortalGuard and PortalGuard IDaaS: Cloud-based or on-prem IAM platform offering MFA (including server-secured Identity-Bound Biometrics), SSO, and self-service password reset. Supports 17 authentication factor options, directory integrations (on-prem, hybrid, Azure AD, LDAP, IBM Domino, custom SQL) and federation standards (SAML, OpenID Connect, OAuth, CAS, WS-Fed). Can be used standalone or integrated with other IAM frameworks (e.g., Microsoft, Okta, Ping, ForgeRock).
• WEB-key: Scalable biometric service management platform for enrollment, authentication/identification, regulatory compliance, and multi-tenant cloud delivery. Supports large civil ID and government identity ecosystems and more than 30 fingerprint scanners interchangeably.
• BIO-key VST (Vector Segment Technology) and biometric capabilities: Fingerprint-based processing embedded in PortalGuard for strong authentication, including continuous or passive mobile authentication supported by related patents.
• PistolStar and legacy patents: Early IAM and password-related technologies acquired in 2020 that contribute to the company’s IP portfolio.
• Hardware fingerprint scanners: SidePass, SideSwipe, EcoID II, PIV-Pro (FIPS-compliant), EcoID III (FAP-20 compliant). Devices connect via USB A/C and support Windows Hello for Business and other biometric login workflows.
• MobileAuth: Mobile authentication app for iOS and Android that enables biometric-based authentication without a separate physical token.
• Distribution and integration: Direct sales and a Channel Alliance Program (85+ resellers, integrators, distributors). Provides APIs and SDKs for embedding BIO-key biometrics into third-party applications.

Customers, markets, and geography

• Customer base: Over 600 customers as of December 31, 2025.
• Market focus: Workforce identity (employees, contractors, partners) and customer identity for web and digital services. Strong presence in government ID projects and healthcare, with emphasis on education (SLED) and international deployments.
• Geographic reach: U.S.-based operations with international activity through acquisitions (e.g., Swivel Secure Europe, now BIO-key EMEA) and partnerships. International offices include Madrid, Spain; Tsuen Wan, Hong Kong; Jiangmen, China; plus additional regions via channel partners.

Business model and financials

• Revenue model: Primarily annual recurring revenue (ARR) from multi-year software subscriptions for PortalGuard IDaaS and related software; hardware sales contribute a portion of revenue.
• 2025 revenue: Approximately $6.1 million.
  • Hardware revenue in 2025: 22% of total revenue, about $1.342 million.
  • Non-hardware revenue in 2025: about $4.758 million.
• 2024 hardware revenue share: 9%.
• Growth strategy: Organic growth supported by strategic acquisitions (PistolStar in 2020; Swivel Secure Europe in 2022) and partnerships (collaboration with Fiber Food Systems in 2024 with Boumarang stake). Aims to expand the Channel Alliance Program and pursue additional accretive IAM acquisitions.

People and facilities

• Employees: 42 total (41 full-time, 1 part-time). Functional breakdown: 19 in engineering/customer support/R&D; 9 in finance and administration; 14 in sales and marketing. Two factory contractors in China.
• Corporate offices: Holmdel, New Jersey (corporate HQ, 150 sq ft); R&D/support in Eagan, Minnesota (1,994 sq ft) and Bedford, New Hampshire (3,364 sq ft). International facilities: Tsuen Wan, Hong Kong (1,098 sq ft); Jiangmen, China (3,267 sq ft); Madrid, Spain (1,504 sq ft).

Intellectual property and standards

• Patents: U.S. patents covering biometric processing and authentication (fingerprint technology, biometric data usage, continuous mobile authentication, and related methods). Key patents were issued between 2011 and 2021 with expirations through 2039.
• Trademarks: BIO-key, PortalGuard, WEB-key, SideSwipe, SidePass, EcoID, PistolStar, MobileAuth, PASSIVEKEY, and other marks registered in the U.S. and internationally; additional unregistered marks are also owned.

Risks and market context

• Financial position: The company has a history of losses and negative operating cash flow and has indicated it may need additional financing to fund operations and growth.
• Competition: Competes in a dynamic IAM/MFA market where biometric capabilities, including server-secured Identity-Bound Biometrics, differentiate its offerings from token-based approaches.
• Regulatory exposure: Subject to cross-border regulatory, privacy, and data-protection laws related to biometric data handling; ongoing privacy and security compliance is required.

Summary

BIO-key delivers a mix of biometric-enabled software, services, and hardware for workforce and customer identity. It serves 600+ customers across government, healthcare, education, and enterprise sectors and operates in the U.S. and internationally through direct sales, a channel program, and acquisitions. In 2025 the company generated about $6.1 million in revenue, with hardware representing roughly 22% of that total. The business combines SaaS and hardware monetization, ongoing R&D, and targeted acquisitions to pursue growth while managing financial and regulatory challenges.