![]() In response, we have taken steps to streamline our headcount and overhead and are actively working to reduce our hardware inventories, which will have a positive impact in moving the company toward profitability in 2023. “Our net loss increased due to expenses associated with the acquisition of Swivel Secure Europe in March our PortalGuard IDaaS marketing build the continued development of enhanced features for PortalGuard and MobileAuth and related personnel costs. Our business model is predominately software-as-a service (SaaS) or subscription, and the vast majority of our new business is partner based, reflecting the focus and strength of our sales model. and Swivel Secure in Europe and the Middle East, we now serve over 600 customers around the world. We made significant progress building our customer footprint in 2022, expanding our base of high-margin, annual recurring revenue and increasing global awareness our solutions. Launched Mobile Authenticator App (MobileAuth) in 2022, featuring both server-secured and on-device multi-biometrics, as well as additional IAM innovations at recent Gartner IAM Summit.īIO-key Chairman & CEO Michael DePasquale commented, “BIO-key closed 2022 with solid revenue growth that enabled us to achieve full-year revenues of $7 million and hit the low end of our revenue guidance.Growth in enterprise customer base in FY’22, including adding a large Southwest US Auto Group in Q4.New partnerships include BeyondTrust Bravanta Group Progeso Networks & Security and public-sector partner SYNNEX. ![]() Significant expansion of distribution partner network in FY’22 and early 2023.Growth in government sector customer base, including recent deployments with Orleans County, NY Robeson County, NC several Florida county governments and six other county governments across the US.Continued strength in higher education franchise, including recent IAM deployments with the University of Georgia’s Abraham Baldwin Agricultural College National Louis University and California’s Santa Rosa Junior College.Q4’22 revenues grew 88% to $1.7M and FY’22 revenues increased 37% to $7.0M, reflecting increasing software and services revenues, partially offset by lower hardware revenue in both periods.ET (details below) to review its results and outlook. ![]() BIO-key will host an investor call today at 10:00 a.m. WALL, N.J., Ma(GLOBE NEWSWIRE) - BIO-key ®International, Inc. (Nasdaq: BKYI), an innovative provider of workforce and customer Identity and Access management (IAM) and Identity-Bound Biometric (IBB) solutions, today reported results for its fourth quarter (Q4’22) and year ended Decem(FY’22). ![]()
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