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Michael DePasquale, the Chief Executive Officer and Chairman of BIO-key International Inc. (NASDAQ:BKYI), recently purchased 5,000 shares of common stock. The transaction, which took place on June 13, was executed at a price of $0.78 per share, amounting to a total value of $3,900. The purchase comes as the company, currently valued at $4.5 million, maintains impressive gross profit margins of 80% and holds more cash than debt on its balance sheet. According to InvestingPro analysis, BKYI appears undervalued compared to its Fair Value.
Following this acquisition, DePasquale’s direct ownership increased to 53,519 shares. It’s important to note that these holdings do not include options to purchase an additional 232 shares and 9,167 shares issuable upon the exercise of warrants. InvestingPro subscribers have access to 12 additional key insights about BKYI, including detailed financial health metrics and comprehensive analysis available in the Pro Research Report. This transaction highlights DePasquale’s ongoing investment in BIO-key, a company known for its innovative biometric solutions.
In other recent news, BIO-key International reported its Q1 2025 earnings, revealing a revenue of $1.6 million, which signifies a 10% increase from the previous quarter but a decline from $2.2 million in Q1 2024. Despite the revenue growth, the company posted a net loss of $737,000 or $0.16 per share. The gross margin also decreased to 82.6% from 86.3% in the previous year. BIO-key’s strategic focus on its proprietary biometric solutions is evident as it transitions away from Swivel Secure license solutions in the EMEA region. The company is optimistic about future growth, anticipating a potential $3 million renewal from its largest customer in Q1 2026.
Additionally, BIO-key has entered a strategic partnership with Runlevel, a cybersecurity firm, to enhance cybersecurity measures in Portuguese-speaking African countries and Timor-Leste. This partnership includes the deployment of BIO-key’s PortalGuard On-Prem platform at a National Bank in Mozambique. The collaboration aims to support financial institutions, government agencies, and enterprises in these regions with advanced IAM solutions. These developments underscore BIO-key’s efforts to expand its market presence and address cybersecurity challenges globally.
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