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Three Higher Education Customers with 30,000+ Users Migrate to BIO-key's PortalGuard IDaaS Cloud Platform for Streamlined Operations and Enhanced Access Management

1. BIO-key adds three clients to PortalGuard IDaaS, serving over 30,000 users. 2. Over 50 organizations adopted cloud-based solutions since PortalGuard's 2020 launch. 3. Shifts towards cloud enhance security, operational efficiency, and reduce costs. 4. Adoption of unified identity systems supports Zero Trust security frameworks.

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Why Bullish?

The increase in customer adoption indicates strong demand and potential revenue growth, similar to past expansions which positively influenced BKYI's stock price.

How important is it?

The article highlights significant customer adoption, providing a strong basis for BKYI's future growth prospects.

Why Long Term?

The migration to cloud solutions suggests sustained growth opportunities over time, as seen in previous trends.

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IAMPORTALCLOUD
HOLMDEL, N.J., Jan. 21, 2025 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) software for phoneless, tokenless, passwordless, and phishing-resistant authentication, announced today that three additional customers: Northeast Iowa Community College – Peosta, IA;Eastern University – St. Davids, PA; and University of Guam – Mangilao, Guam, with over 30,000 users, have migrated their on-premises deployments of PortalGuard to the PortalGuard IDaaS enterprise security platform. These customers join over 50 organizations with 4+ million users that have embraced BIO-key’s cloud-based solution since its November 2020 launch. Migrating to the PortalGuard IDaaS platform enables BIO-key customers to adopt IT infrastructure best practices, streamline and centralize operations, improve uptime, enhance resource access efficiency, and enable seamless disaster recovery. PortalGuard IDaaS adoption enhances operational effectiveness, reduces the total cost of ownership, and strengthens protection against cyberattacks. By partnering with BIO-key experts, organizations can collaboratively manage end-user access to applications and data while ensuring robust security controls are in place. The growing threat of security breaches, stricter IT standards, and more demanding cybersecurity insurance requirements are prompting organizations to embrace cloud-based solutions for protecting their applications and data. With PortalGuard IDaaS, BIO-key customers can seamlessly transition to a unified identity management system that provides comprehensive visibility into user access across the entire enterprise, regardless of login location. This integrated solution boosts productivity by minimizing workflow disruptions and enhances support for Zero Trust security frameworks, which are increasingly essential for maintaining a strong security posture. "IT leaders are shifting from on-premises technology to flexible, scalable, and cost-effective cloud solutions," said Mark Cochran, President of BIO-key – PortalGuard. "With PortalGuard IDaaS, organizations can adjust resources as needed, eliminate wasteful spending, and quickly respond to peak demands. Our cloud solution not only offers greater agility and cost savings but also provides opportunities for organizations to transform these benefits into a competitive advantage, all while reducing reputational risks. About BIO-key International, Inc. (www.BIO-key.com) 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 options. Its cloud-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. BIO-key Safe Harbor Statement All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" 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 factors set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the SEC. 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. Engage with BIO-keyFacebook – Corporate:https://www.facebook.com/BIOkeyInternational/LinkedIn – Corporate:https://www.linkedin.com/company/bio-key-internationalTwitter – Corporate:@BIOkeyIntlTwitter – Investors:@BIO_keyIRStockTwits:BIO_keyIR   Investor ContactsWilliam Jones, David CollinsCatalyst IRBKYI@catalyst-ir.com or 212-924-9800

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