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LISBON – BIO-key International, Inc. (NASDAQ:BKYI), a provider of Identity and Access Management (IAM) solutions with a market capitalization of $4.6 million and impressive gross profit margins of 80%, has announced a strategic partnership with Runlevel, a cybersecurity firm targeting Portuguese-speaking African countries and Timor-Leste. According to InvestingPro analysis, the company maintains a strong balance sheet with more cash than debt, positioning it well for strategic expansion. This collaboration marks BIO-key’s initiative to enhance cybersecurity measures across these regions by offering advanced IAM technologies through Runlevel, which joins as a Value-Added Reseller in the BIO-key Channel Alliance Partner (CAP) program.
The partnership’s first significant deployment is with a National Bank in Mozambique, demonstrating the demand for robust IAM solutions in the financial sector. The deployment includes BIO-key’s PortalGuard On-Prem, a secure IAM platform with Multi-factor Authentication (MFA) and Single Sign-On (SSO) capabilities.
Miguel Guerreiro, Managing Partner at Runlevel, emphasized the partnership’s ability to deliver security solutions tailored to the specific challenges of the regions. Alex Rocha, International Managing Director at BIO-key, highlighted Runlevel’s deep understanding of the local cybersecurity landscape as a key factor in expanding BIO-key’s reach into these markets.
BIO-key’s biometric-centric IAM software is designed to secure access for over forty million users, offering diverse authentication factors, including phoneless and passwordless biometric options. The company’s PortalGuard IAM solution aims to provide secure, scalable, and regulation-compliant access to information and transactions.
The partnership between BIO-key and Runlevel is expected to support financial institutions, government agencies, and enterprises in PALOP countries and Timor-Leste, ensuring they meet increasing cybersecurity challenges with effective solutions. While the company’s revenue stands at $6.36 million for the last twelve months, InvestingPro data reveals the company is trading at an attractive revenue multiple, suggesting potential upside for investors looking at expansion opportunities in emerging markets. Get access to 10+ additional exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
Runlevel specializes in IT security, infrastructure, and compliance solutions, helping organizations to navigate the evolving cybersecurity landscape. BIO-key aims to revolutionize authentication and cybersecurity with its IAM software, securing access across various industries.
This strategic move by BIO-key and Runlevel underscores the growing importance of cybersecurity in the global financial sector and the need for advanced IAM solutions in emerging markets. The information provided is based on a press release statement from BIO-key International, Inc. With the stock currently trading below its InvestingPro Fair Value, investors seeking detailed insights can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, covering this and 1,400+ other US equities with expert analysis and actionable intelligence.
In other recent news, BIO-key International reported its Q1 2025 earnings, revealing a revenue of $1.6 million, which is a 10% increase from the previous quarter but a decrease from $2.2 million in Q1 2024. The company faced a net loss of $737,000, equating to a loss of $0.16 per share. Despite these challenges, BIO-key improved its cash position and significantly reduced its note payable by over 50%. The company is transitioning towards selling higher-margin BIO-key branded products, particularly in the EMEA region, which contributed to the sequential revenue growth. Analysts noted that BIO-key anticipates a potential $3 million renewal from its largest customer in Q1 2026, which could positively impact future revenues. The company’s strategic focus remains on expanding its biometric solutions, particularly in the defense and government sectors. Additionally, BIO-key’s gross margin slightly declined to 82.6% from 86.3% in the previous year, reflecting a shift in revenue composition.
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