BIO-Key Discloses Orders From A 'Foreign Defense Ministry' But Stock Loses Initial Gains

BIO-key International Inc (BKYI) on Thursday announced that the cyber-defense unit of a foreign defense ministry has placed a $280,000 order to expand its biometric authentication system to more personnel.

BIO-key, however, did not disclose the organization's name but added that it currently supports more than 50,000 licensed users for the ministry. The new deal brings the customer's total orders to about $1.14 million over the past 12 months, with more orders potentially expected.

The company said its biometric identity and access management technology allows secure logins without phones, tokens, or removable devices.

BKYI shares reversed initial gains to trade 5% lower in pre-market.

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