HOLMDEL, N.J., March  03, 2026  (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ:BKYI), a global leader in biometric-centric Identity and Access Management (IAM) solutions, today announced it has secured a

BKYI

Retail Bank Executes Expanded $1.04M License Renewal for BIO-key Biometric Identity Solution Serving 30M Clients

BIO-key Secures $1.04M License Expansion, Positioning for Growth

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>HOLMDEL, N.J., March  03, 2026  (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ:BKYI), a global leader in biometric-centric Identity and Access Management (IAM) solutions, today announced it has secured a</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>BIO-key International has announced a $1.04 million license renewal and expansion from a long-term banking client, reflecting a 30% increase over last year. With current cash reserves at $2.7 million, the company appears well-equipped to support continued growth initiatives and bolster its market position in the biometric identification sector.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>BIO-key secured a $1.04M license renewal and expansion from a foreign retail bank.</li><li>The renewal increased 30% compared to the previous year&#039;s contract.</li><li>BIO-key&#039;s cash position is $2.7M, supporting growth initiatives.</li><li>Client enrollment expected to grow by 5% in the coming year.</li><li>Total fingerprints managed by BIO-key for the bank exceeds 300M.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Foreign Retail Bank (N/A)</strong>: A significant long-term client expanding their biometric solution deployment.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under corporate developments as it highlights BIO-key&#039;s growth trajectory and strategic expansions with major clients, essential for investors tracking the biometric sector&#039;s future potential.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>The 30% increase in the renewal contract indicates strong client confidence.</li><li>A 5% expected growth in client enrollment could enhance revenue forecasts.</li><li>BIO-key&#039;s solid cash position supports further investments in growth.</li><li>Expansion into larger deployments boosts overall market trust and potential revenue.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>BIO-key&#039;s initial rollout in 2015 started with 7M enrolled clients.</li><li>Current enrollment exceeds 30M clients, managing over 300M fingerprints.</li><li>Average yearly cash position reported at $2.7M.</li><li>The renewal will last for one year, providing needed financial stability.</li><li>Renewal order value increased from the prior year by 30%.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>We recommend a short-term bullish stance on BKYI given renewed client activity and strong cash position.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">HOLMDEL, N.J., March  03, 2026  (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=JZsJYsYk0qu-Wf1tOR6v1llNQ4mhmSG9WQKcBr6myrsoEVFtScRbfHdPtcsvhzzeDEzc_MpRvBiRgFAZCGK5NA==" rel="nofollow" target="_blank">BIO-key</a><a href="https://www.globenewswire.com/Tracker?data=fR74--hK-BiNxIXccHzUngz1Oh3iyLYoSkQsOII7AAgYnLhjxEYxiE8J4n2BjYgcMZNM_RMdnuqR95EFVcV1fA==" rel="nofollow" target="_blank"><sup>&#xAE; </sup></a><a href="https://www.globenewswire.com/Tracker?data=jccKgV16JqHYwrTCbJdJ6pawjweythhY-Rk9A-mziKjjBa4zQODaeGJjg0W7adyqkRE7A8v-3HgBb3hudIkdOghdjbxJVxC6e1GanpeG5Bg=" rel="nofollow" target="_blank">International, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BKYI">BKYI</a>), a global leader in biometric-centric Identity and Access Management (IAM) solutions, today announced it has secured a $1.04M license renewal and expansion order for its biometric identification solution from a foreign retail bank, a customer since 2015. Reflecting the customer's ongoing expansion of the solution's deployment, the value of the one-year renewal increased 30% over the prior year.</p>  <p align="justify">BIO-key also disclosed that based on its year-end cash position of $2.7M, anticipated license renewal activity including today's announcement, and anticipated receivables collections, it believes it has sufficient cash and anticipated cash inflows to support its growth plans internally.</p>  <p align="justify">Michael DePasquale, BIO-key's Chairman and CEO, commented, "We are extremely encouraged by our growing traction in larger scale deployments which we expect to bolster our financial results and working capital position moving forward. We entered 2026 on a solid financial footing with approximately $2.7M in cash and improving visibility on both renewal activity and business development opportunities. These factors, combined with our spending discipline, provide a sound working capital outlook to internally fund our growth initiatives.</p>  <p align="justify">The bank's biometric identification technology deployment has grown from an initial BIO-key rollout of 7M enrolled clients in 2015 to over 30M today. With ten fingerprints enrolled per client, the program now manages more than 300M fingerprints to support fast, consistent bank client identification and verification for in-branch interactions at teller stations, assisted kiosks and ATMs/automated service points. The renewal incorporates anticipated growth of 5% in client enrollment over the coming year.</p>  <p align="justify">In addition, approximately 10,000 bank employees use BIO-key's fingerprint technology to authenticate themselves during daily branch operations and transaction processing, helping the bank enforce strong controls and reduce the risk of unauthorized activity The system is designed to help extend the trust established during client onboarding into everyday banking. As part of the bank's know-your-customer (KYC) processes, client fingerprints are verified against the national identity verification system. The certainty of that client identity proofing event is then tied to their BIO-key enrollment and used for positive client identification in subsequent interactions. This helps banks maintain a durable chain of trust that strengthens protection against impersonation, account takeover and fraud.</p>  <p align="justify">"Identity assurance is becoming the control point for modern banking. As client service and operations become more automated and AI-assisted, it is essential for banks to deploy robust systems to authenticate customer interactions which can be audited. We are proud to support a ‘biometric chain of identity trust' that helps connect day-to-day interactions, whether automated or in person, back to the bank's original identity proofing," said Jim Sullivan, BIO-key's SVP of Strategy and Chief Legal Officer. "BIO-key is proud to provide a scalable biometric platform that has supported this customer's extraordinary growth over the last decade."</p>  <p align="justify"><strong>About BIO-key International, Inc.</strong> (<a href="https://www.globenewswire.com/Tracker?data=MnczL1u8nXPYgz2Ps1gLIr2NcGUmmAApl4bdbWNf6OrD-ny0eo3e79C_wjyu-lkLRhWXCnJjohPaaEYzFnfZ2kbzDnsuHBW4hdIprNP7tm0=" rel="nofollow" target="_blank">www.BIO-key.com</a>)<br></br>BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless and passwordless biometric FIDO Passkey and in-person authentication options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.</p>  <p align="justify"><strong>BIO-key Safe Harbor Statement<br></br></strong>All statements contained in this press release other than statements of historical facts are &#34;forward-looking statements&#34; as defined in the Private Securities Litigation Reform Act of 1995 (the &#34;Act&#34;). The words &#34;estimate,&#34; &#34;project,&#34; &#34;intends,&#34; &#34;expects,&#34; &#34;anticipates,&#34; &#34;believes&#34; and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management&#39;s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the &#34;safe-harbor&#34; provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts and expand in foreign markets; fluctuations in foreign currency exchange rates; our history of losses; and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption &#34;Risk Factors&#34; in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise.</p> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td colspan="3"><strong>Engage with BIO-key</strong></td></tr><tr><td style="max-width:30%; width:30%; min-width:30%;">Facebook – Corporate:</td><td style="max-width:1%; width:1%; min-width:1%;"> </td><td style="max-width:69%; width:69%; min-width:69%;"><a href="https://www.facebook.com/BIOkeyInternational/" rel="nofollow" target="_blank">https://www.facebook.com/BIOkeyInternational/</a></td></tr><tr><td>LinkedIn – Corporate:</td><td> </td><td><a href="https://www.linkedin.com/company/bio-key-international" rel="nofollow" target="_blank">https://www.linkedin.com/company/bio-key-international</a></td></tr><tr><td>X – Corporate: </td><td> </td><td><a href="https://x.com/BIOkeyIntl" rel="nofollow" target="_blank">@BIOkeyIntl</a></td></tr><tr><td>X – Investors:  </td><td> </td><td><a href="https://x.com/BIO_keyIR" rel="nofollow" target="_blank">@BIO_keyIR</a></td></tr><tr><td>StockTwits: </td><td> </td><td><a href="https://stocktwits.com/BIO_keyIR" rel="nofollow" target="_blank">BIO_keyIR</a></td></tr><tr><td> </td><td> </td><td> </td></tr></table> <p><strong>Investor Contacts</strong><br></br>William Jones, David Collins<br></br>Catalyst IR<br></br><a href="https://www.globenewswire.com/Tracker?data=NaNThw8pErPaYmAnXSwyr37MLy5CIdGyYTij-4Sry-kw-OPjHpUAH_C9_vKmA9hA7t8VSXxseFx1BeyD3T_ClctdbObvwkBqCmDW_2yKwSM=" rel="nofollow" target="_blank">BKYI@catalyst-ir.com</a><br></br>212-924-9800</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY2NDU0NCM3NDYzNDIxIzIwODg0MTM="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MjQ5OTI4MDUtNGZmYS00MmYxLWI1MzktOWEwY2MxNGM3ZDhmLTEwOTk5ODQtMjAyNi0wMy0wMy1lbg==/tiny/BIO-key-International-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/4bca27c0-f7ad-4c90-9fab-226813a884b3"><img src="https://ml.globenewswire.com/media/4bca27c0-f7ad-4c90-9fab-226813a884b3/small/yahoo-logo-1029x579-jpg.jpg" border="0" width="150" height="84" alt="Primary Logo"></img></a></p>

BIO-key International has announced a $1.04 million license renewal and expansion from a long-term banking client, reflecting a 30% increase over last year. With current cash reserves at $2.7 million, the company appears well-equipped to support continued growth initiatives and bolster its market position in the biometric identification sector.

Retail Bank Executes Expanded $1.04M License Renewal for BIO-key Biometric Identity Solution Serving 30M Clients

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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