• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

BIO-key Issues Q3 2018 Results, Focuses on Future

November 16, 2018

“Our outlook for the remainder of 2018 is supported by initiatives we have in place, as well as multimillion dollar software orders we expect to complete imminently.” – Mike DePasquale, CEO, BIO-key

BIO-key has issued its fiscal results for the third quarter ended September 30th.BIO-key CEO Focuses on Future in Q3 Update

The quarter brought in revenues of $739,750, compared to revenues of $942,417 in Q3 of 2017. Its net result for the latest quarter was a loss of $1,641,315, compared to a net loss of $1,605,784 a year ago.

In its update, BIO-key attributed the drop in revenues to reduced sales of its fingerprint scanning hardware including its biometric locks, as well as “lower service revenue related to the timing of certain projects.”

But in his commentary on the results, BIO-key CEO Mike DePasquale was upbeat, highlighting BIO-key’s sponsorship of and participation in Microsoft Ignite 2018, where he said the company found “several enterprise customer leads”. DePasquale also highlighted the recent appointment of BIO-key’s new Chief Revenue Officer, Fred Corsentino, who “will refine and refocus BIO-key’s business development, sales and marketing functions to optimize opportunities from our strong base of biometric software and hardware solutions.”

BIO-key’s Q3 update arrives alongside the announcement of new orders from Hong Kong-based companies totalling over $10 million in value, a propitious development for the company’s fourth quarter.

(Originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: BIO-key, Biometric, biometrics, corporate updates, fingerprint authentication, Fingerprint biometrics, fingerprint recognition, fiscal updates, Q3, Q3 updates

Related News & Articles

IDEX Biometrics and Hengbao Team Up on Asian Smart Card Trials

New Samsung Processor Anticipates Rise of 3D Facial Recognition in Wake of Apple’s Face ID

Ride Hailing Startup Uses Shufti Pro Biometric Onboarding for KYC Compliance

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Thai Authorities Approve Mobile ID for Airport Boarding
  • New Yoti Solution Ties Biometrics to e-Signatures
  • Kenya’s New President Pushes for Digital ID By Year’s End
  • MDL, Digital ID Gain Momentum in State Efforts
  • Brazil-based Selfie Onboarding Startup Reports 250% Sales Jump, Global Expansion

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld