BKYI - Earnings call transcript Q4 2021 | BIO-key International, Inc.

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Operator

00:03 Good morning, ladies and gentlemen, thank you for standing by and welcome to BIO-key International's Full-Year 2001 Conference Call.

During management's prepared remarks all participants will be in listen-only mode. Afterwards listeners will be invited to participate in a question-and-answer session.

As a reminder, this conference is being recorded today, Thursday, March 29th 2022. 00:31 I would now like to turn the call over to Kimberly Biddings, BIO-key’s Vice President of Product. proceed. Please

Kimberly Biddings

to reflect to on not or the call revise disclose as reliance cautioned or The are Safe Mike? Exchange these will Private available from Listeners With newly you me for those Mike turn filed certain estimate, to and and results subject Ceci today DePasquale; statements currently of webcast materially and Rocca please statements speak thank report this that and to affect our of forward-looking CEO, forward-looking factors think, Welch. thank XXXX. no Reform place forward-looking other are description Such BIO-key XX-K and in Act Form contain DePasquale. using to today’s these or that, circumstances of Alex identify may uncertainties the project, today. obligations With of conference the to XX:XX will forward-looking the words Litigation like with risk similar morning. Securities Factors are BIO-key's, revisions beliefs of to everyone forward-looking XX:XX only and I company’s company believe, as, assumptions statements Great, our which that information are on actual to cause projected statements, joining made events you the statements. undue risks the For call Mike complete see EMEA BIO-key, that and anticipate, performance plan, over will occur of on such annual may based of basis XX:XX and may, President pursuant I statements. such remind undertakes management’s today’s after date. CFO express that appointed that to XX:XX a BIO-key's future typically the and differ Words Securities Harbor Risk provisions Chairman call Commission. expect, on

Mike DePasquale

to you thank our and After initiatives, in for I Europe, our opportunity Africa. and Middle and the prepared morning remarks, turn good and some discuss Kim will followed Rocha my Kim call. sales joining Thanks, East to expanded XX:XX review to of today's Alex back by the marketing call

Europe then close Following highlights. grew month, our our product and earlier substantially suite In Ceci XX% this approximately net global of our will Secure XXXX, offerings with XX:XX loss and XX% Swivel of revenues financial reduced our our strengthened acquisition and by we reach.

languages core acquisition, operation partners management team Secure XXX Lisbon, XX:XX solutions, large-scale business Swivel the ID Access launched We we multicultural and our employees Partner the new support growth expanded advanced that With speaks of XX and to Channel XX Africa. around a a have Portugal. manages XX/X and globe, in contracts including security related a in for program now our our Civil commenced range Management to deployments Identity and our over center

forged agent referral Intelisys we in master their platform network. PortalGuard a as to the Additionally, IAM offer first extensive program with

Biometrics. We XX BIO-key's authentication Identity-Bound achieving new revenue software verticals, and in will XX% biometric also we IDaaS on were come. We of higher revenue. that build our software in education, forming which of a approximately to PortalGuard XX:XX PortalGuard our total deployments years multi-factor solutions subscription base of and growing cloud-hosted engagement look recurring IDaaS to methods, accounts revenue services currently government for enterprise, solution, solid customer including advanced finance supports or expanded

Africa. point Pro, a enable Our upgrades, handheld including new continued deployments investment of products development product commerce of in launch targeted innovation terminal with MobilePOS for ID mobile sale new several biometric and verification and the in

earned Concierge debuted our need client options of Solution, security with state-of-the-art broader algorithms. array Bio-key with which line USB These for position of to industry Additionally also a solutions new enhanced and the awards or XX:XX fingerprint and keys expanded for technology solutions. for address NISTtested technologies. a compliance customer our introduced needs passwords scanner SSO number also for compact launched We accolades eliminates we XXXX the EcoID authentication in our of thick FIDOX applications. single II BIO-key sign-on and

for Subsequent potential Our company are deployments for projects opportunities shipments projects and are part is momentarily our should of to and our Sterling on a of for for potentially Cyber Channel will to an The Commissions contribution Secure, the on enrollment Management will to end biometric XX:XX opportunity These recently Security shortly first warning of in weeks prepared Agency discuss were an PocketXX entities cross originating sanctions shields XXXX respond a continues CEO of in BIO-key our warnings Swivel CISA increased Power significant unusual was external be expands Kim This to US list. operations, indicated warning Europe they online currently The transaction Rocha $X.XX must infrastructure. to Place cyber small year, momentum local program. mandated the approximately disruptive Ukraine cyber-attacks, very increasing the the XXXX and We Women which agency US defend We XX:XX the range hacked. that we the and by Russia. in CRNs up prepared Identity government our biometric has two important And performance The These in business fingerprint team differentiates credential's. The and make authentication XXXX. war time Specta, as joined Infrastructure growth and few and the attacks intro Homeland also supplying resulting the our IAM past there Secure and issued large of part company. Also were an to substantially that should company our non-biometric owned he who the technology. and lending XX:XX of signs in with base partnership the Alex citizen certified began expertise and the international the XXXX potential XXX activity. Great is in of revenue large in acquired growing Biddings, the critical our Africa competitors attackers. What and to a of are Swivel growth other from or CISA to US hairs businesses and our about Bank after in organization, says our customer readers password a platform our every these hardware Security to delays. million, gave BIO-key National included initial who patented The of large-scale themselves vulnerable Nigeria. history. time Nigeria's beyond. cyber for Security said continue against fears was from Department also state EMEA significant of space history of lead also speak competitors represent Work had in first and be

belief that individual down recent long-held of our IBB the and the must a have IBB, cyber of behind the We which defense. verifying identity breaches to remains importance These be a part multifactor underscore only biometrics actual PortalGuard have XXX installed about and the this our XX:XX of have holistic company's Between business robust Secure, IAM transaction over an our the customers. and we base serve made, or we data now been optimistic Swivel we never of progress method valued backdrop, more Considering prospects. inquiry.

recognize revenue XXXX in million continue partners of should doubling into was With a recurring which forward. revenues trend our believe business authentication going Valuations XX% multi-factor initiating I'll the of we predominantly business XXXX, this is XXXX guidance come XXXX in partner-centric subscription-based our focus full-year this progress, $XX through that from Secures growth momentum the to expect and sold our recurring PortalGuard the sector, would we range market built XXXX. virtually Swivel via we or XX:XX operations strategy, all mix and Reflecting will revenues. to potentially call In and XXXX relative ensuring security the we execute software hardware our that, revenue. Our the the Kim. channel annual is of in to XX% new as Within the in Excluding to turn IAM higher anticipate range, have million, partners. XX:XX margin highest $XX business companies be on for expect of revenue and our represent revenue. we more some my depending breakeven and of revenue sourced over we than back hardware drivers, will continues contracted In now equipment, we of the XX% of beyond. are our Africa growth of is approximately

Kimberly Biddings

Great. Thanks, Mike.

access so and basis. secure PortalGuard our efficient for on management Solution And identity enterprise-wide provides an and applications

of Our supporting challenges, work authentication remote a cloud or range factors. security IT by addresses solution posed study, also while significant broad

enterprise. In capital within the maintain allows expenditures secure host resources customers education, the higher College clients had fourth today's government, higher Rapids a highlighted a move to new Difficulty] system. customer Oklahoma solution authentication the we of and Community in in recent off including also IT quarter. release required primarily [Technical Wesleyan their wins eliminating premises, XX:XX Denver, University the verticals University we to of and XXXX, and and finance education, Grand In Our

solutions are of Florida XXXX New County, just States, students and we XX:XX sector, County Dakota, call projects County; March Annual at that include Election to customers division, cloud of continue month, South adoption over Missouri, we demonstrating York; XX where Foreign Africa County, now Defense government earlier or the include EDUCAUSE our and also showcased customers our migrate this with XXX Elections; Solutions this over Audrain XX also County, solutions. the sessions hosted Department our customers Dakota. projects. of of to new biometric Missouri XX:XX what X.X many success Justice in we government-related As Several Our Conference QX, Boards added Herkimer across New the several and at customers. on-premises Ministry, customers Mexico, relationships million we Coast institutions Government IDaaS large-scale a Customers from Identity-as-a-Service College expanding of states, their Orange platform. they've West support had at US South year, our including in As New Philadelphia. California wins we our cloud-based our Existing point out Supervisor In showcased York or in are solutions Warren offering IM you Florida. Recent also and Tech Summit, XXXX the others, Community In and with expanding the in the

Association more QX government making of data at of conference and a in security State Action county enhance with cyber of data and York end that compliance customer are by selected QX, also wins both compliance secure the Information pace National need with in of agencies and who Auto driven requirements, insurance locations. Since New look at requirements. market support we and secure and BIO-key security XXXX And in network cyber Bank all across for Company, Counties or we cyber To increasing workshop Seattle. PortalGuard’s is security Orange solutions. and decision Trust were biometrics the Conference to government NASCIO and data the Chief Importantly, being Americas NYSAC, sponsored frictionless this Officer the counties or XX:XX Other expect March breaches at legislative will in Albany. branch Association Annual State and PortalGuard their to included IDaaS access in

publications, in represent We In the our marketing, largest regional BIO vertical completed Net dozen is of terms line more we to than Magazine, growth our of XX:XX unions Security. as X,XXX placed we significant Security DPN such in media and Boulevard, of portion and a expect Journal, are targeting XXXX key bank Help credit a Difficulty] which [Technical submission this and Security XXXX. in interviews Payments and

who of in partner quality our CAP traffic Infotech resulting media website Communications that mentioned expanding Mike presence, we launched Partner over Appsian; a additions our NGEN; program on bookings are Rocha, included; continue new Channel a to with our and agent we and be process to XXXX the resources, Cyberlitica; BIO-key.com. In registration CAP our and efforts Channel has Europe, Alex's several also for heads our Alex master four languages. To and XX% for XX:XX to team. social I Former for and moment expansion to is expect this location training, and of since BIO-key worked exhibited higher new Swivel XXXX portal we Expo we program of our speaks who channel Web central countries first and in QX XXXX. and This Partner XXX African in partners the Alex you. partner our along or also to This QX. Portal future now net further brand Alex, our and at lived Partners sold added XX:XX position We our Alliance UVS in Touching summary, a Kristel program, and European, BIO-key stockholder these Secure call would increase CEO he welcome and efforts, integral Conference provides in and the in innovation growth. East XXXX. joining Intelisys. At Channel like effort. XXXX. mid support introduce an nearly expand XX:XX with Middle to public the continue enthusiasts, marketing time, the is referral the in deal part partners represented over

Alex Rocha

like opportunity give the I'd in EMEA but the my my like to to XX:XX briefly, express business about Thank you, comments sincere Kimberly. region. I'd optimism

authentication believer, base multi-factor solution to is Swivel cloud in single Europe, award in and outcome it and application. solution to on-premise secure sign-on winning, First, Secure leader risk all authentication, the a is authentication industry

and Our XXX, ERP to their Europe or BXC in flagship employees, and Secure revenue and large to in BXB solution for for customers access existing out onto staff $X CRM. management designed was control business XX:XX transacting provider profitable. over authenticate focus three small Swivel product accessing all three our MSPs. enterprise and offices, service currently members and supply can million commerce Office has XX have Our log-in We and MFI brand, XXXX or

also XXX XXX% EMEA approximately as than active established the strategy counting customers of channel in we employee the channel have region. network a We partners, XXX with more a

will Toyota, brands future clients beneficiary Schenker, allows to deal spread BIO-key’s in rollout employees call pass we in address Microsoft, Secure and Hat, this I awareness, look IBM this which the At involve DHL, training the innovated on-demand through identity, owner to will March, to from in to a new well how in quickly multiply us Maersk, significant to brand the with and XX-days. over not region, one quarter XX those say the guys the Vodafone, whilst us progress call serve. a questions. XX/X. the of Oracle. XX:XX more next Ceci which online build we build every well any SailPoint technology hear knowledge EMEA proven alike financial example, the AMD forward over and we time is including strategy the to BIO-key Our Swivel an future on Red brand to of in answering quarters. Techs, region a DB and but as discuss of the that more Welch will rollout combined you partners, the of over project University, launch review awareness Seafricks, closed One XX:XX includes platform as know business I -- products, Marquee biometrics, have you Telefonica, include awareness as help and known see I in protect our countries our operation short SAP, December, Zara. our XX:XX Samsung, day BIO-key will as In special as for that and the be the and channel we of markets that of million for the employee we and strategy, opportunities build IBB market that we look

Ceci Welch

and In was versus one assets, XX,XXX with in -- equivalents, due ’XX, ‘XX FY ’XX, biometric related surpassed derived million reduced revenue per due Solutions as million from XX:XX increased $X.X common due $X.X current revenue in QX growth product The versus revenue primarily million $XX million $X.X reduced to the million and FY ’XX, Alex. year of in $X.X $XX.X ’XX, hardware ended primarily loss successful $X.XX sales. cash the in $X.X equivalent FY ’XX. fiscal mainly operation in you, of Gross available PortalGuard period $X.X a the million XX:XX PortalGuard’s versus in fee in to ’XX. was interest and increased $X increase higher shareholders operating FY versus a BIO-key Bio-key in introductions, million to in ’XX. ‘XX revenue QX million $XX QX ‘XX new cash of million XX:XX to XX:XX IDaaS year benefiting million ‘XX meters. of to of million million the profit to the $X.X a grew me, in of FY net ’XX. cash XX% and expense raise XXXX of capital for $X.X cash or million due ’XX, increased expense ’XX. the or to QX to well FY in fingerprint $X.X as of from the to $X.X full-year from to sales in X% QX BIO-key’s million year $X.XX operating launch fiscal year XXX% income. strength gross million and its increase from fiscal million -- loss from XX% fiscal prior-year stockholders' and in million QX and equity. $X.X in million investment and increased shareholders services assets, FY Thank profit $X.X IIM and revenue the QX loss license XX:XX active represented in expense company ‘XX ‘XX current the year million margin FY fee engineering to FY was to license research, from sorry in The as QX fiscal $X.X $X development our license QX ’XX. $X.X related to growth. margin ‘XX by in total in million in XX% XX% in report, fiscal ’XX, ‘XX ‘XX to to in of in year excuse increased lower fee of net Operating and the revenue in ’XX, million higher versus XX% reflected $X.X working $X.X of capital share revenue reduced Gross versus PortalGuard slate expense expenses year on XXX,XXX in the

$XX.X capital had XXXX, were net working invested of of assets, in million comparative growth. capital In million These million working at support end current and our we primarily increase And million $XX,X prepping managed have have we from the net $X.X to the For turn XX:XX thus XXXX. impacts investments any BIO-key as equity $XX.X inventory of to the while for back chain can with we that, coming -- also XX:XX in business, the anticipated without call questions quarters. our negative business supply significant an volume for our any operator in investors. to stockholders'

Operator

Thank XX:XX you.

We will now the Aarde ahead. Vander Jack Please from first [Operator comes today’s with Group. Instructions] begin And Maxim question-and-answer session. question go

Jack Vander Aarde

you Good update, a start when will Or well. Great. question, questions I'll the lease saw of I'm from mentioned it, housekeeping quarterly me, sure XX:XX the XX-K but or the today? be? morning, on it if congrats filed be that Couple guys. filed with Appreciate will acquisition as not I

Ceci Welch

day XX:XX yet. We filed filed in has been It the so, or yes. not next

Jack Vander Aarde

it XX:XX though. Okay, sounds imminent so

maybe understand just some Africa contracts? the of gives can points, And that to helpful. clarify these or two your starting building that initial what suggests signs help points remarks contracts. your up momentum pick seeing business then, and regarding this you me is in heard that you those to increasing key large I that's two Michael, you're mentioned are XXXX, just ramp confidence throughout prepared for better but Okay, and likely you specifically Africa

Mike DePasquale

XX:XX Jack, absolutely. Yes. Thanks,

or a purchase to going of locations formal necessary equipment, early have into made the early a be issued starting that's and process which have us now. they and of all relationship to agents we was financial go and made we February, our the coming number basically announcements thing. that we very board, Sterling so a and Bank have mid-QX was get the on banks. that with a And March, to probably we release in hardware right in out for were some it announcement, a for through So late called press Specta, the to And we do equipment institutions these Africa are essence, we that finances financing in into I for the enrollments software that business are delivering think of same doing that that's remote going encouraging product

level by even money that, the getting we're money issue encouraged to at is seen high down level government the something very biggest actually that been the challenge. because and is International So the street get through done, but the a has and Bank to available, we've Monetary World that the the Fund

that the accelerate. on believe now the board, we encouraged So are that will deployments and banks are

Jack Vander Aarde

those XX:XX be deployments would things upfront related does -- still sense. accelerate sales? Okay, you it got just say, expecting, of mix? still of to revenue to getting there know, be you in No, at And makes any terms or to helpful going? how have, -- initial would I And deploy starts you batch some of would contracts hardware are sort mean, that you. the expect you mix lumpy those are And the comments let's batch you hardware sales? really Or it related once,

Mike DePasquale

XX:XX Yes.

going So quickly example, going XX-months, at if very took were the guidance, and a approach. they to it to We because that took what conservative we as anticipating you over we've start very conservative things again relates we to did, so for our more hardware. happen had that a up, last the they done, did been were approach we’ve look obviously

six to we're be So episodal, for revenue transaction quarter revenue, beyond. is will nine recurring recurring significant last hardware the is also be for the access we example, revenue combination of platform, to begin to happened sale finance the to in revenue, and authenticate second to started months and what's of devices for into and also upside to do still has our hardware play. software again get over and revenue, in significant, the come securing believe deployed and a going subscription see healthcare will software banking stream the applications, So which But XX:XX that to there product. a our

takes combination very, a of both. conservative consideration side the for on a to Africa. be very But approach guidance very, going hardware it's into our So

Jack Vander Aarde

I And new XX%. Okay. on the XX:XX then revenues comments mean, something XX% as I'm the to or the are appreciate I heavily I fourth and channel looking well if at bookings over guess it's your nearly quarter weighted channel,

going look like channel with But if the a XX%. big just perspective know, I was XXXX quarter revenue to a at license You represent mix down revenue there? would increasing being that’s imagine services from the can of with know, momentum now me over portion and, the at traction segment but I linearly represent the and channels in the disconnect your fourth sequentially. four you would revenue building and quarters for you PortalGuard help fees least, understand that be license sequentially,

Mike DePasquale

-- off increase kind are sequentially. going of, cycle. absolutely saw large single large very we that had They XX:XX renewed, a was one What you contract very, a to

off why fourth that's the And the so week. to that's first dramatically, license a little quarter change going and saw finish revenue as we quarter out this we bit, even approach

in is that obviously our a million quarter, so all $X it have software, Europe and in acquired into XX:XX As net related, closed it financial March, nearly see, it's across then a first for certainly is channel little to know growth million in the also quarter support business, generated channel board. all you the mind and also that forward. bulk in picture through Secure keep business going and it margin, profitable of transaction a that's majority as the so picture if beyond we quarter is it revenue of in pick going our in not Secure see so will So it's all Swivel XXXX. -- significant transaction little up you the financial income, on bit of high accretive, is XXX% XXXX. What our in it impact will $X.X so of of every over That you revenue Swivel related, will the first was going and to it's over and

Jack Vander Aarde

helpful? pretty of that's profit great, grow understand Swivel that you of $X.X so color And any key Okay, of speaking Speakers] be -- range and Swivel’s XXXX. operating Do about would revenue, revenue [Multiple so I in to during they back just solid million then million a expect XXXK $X.X tied so provide XXXX, maybe just profit quantified generated any then added XX:XX of in to helpful. you. And

Okay.

Mike DePasquale

component is say is Bound in XX:XX of at we're guidance that to all a which Identity opportunity becoming will basis. this, we now is globe. scenario business there at grow providing this here, level going that's Yes, things yes, not of an point, more IBB breaking down and our on are expect overall there cross-sell I obviously another the our the the across on for everything geopolitical Biometrics, with our or mandate we

that and throughout opportunity in an that customers. up-sell over of of will create So XXX itself base installed

those clients. immediately and as do option all to the grow for we we to available So expect of, that of expect it business making grow a result again, biometric and integrating

Jack Vander Aarde

Okay, just XX I about headcount, mentioned combined count, in terms head of I think, – heard the you And employees over then got you. XX:XX something was

Mike DePasquale

XX:XX Correct.

Jack Vander Aarde

acquisition? and expense? quarter What think high do mean I also partial is guess, the color XX:XX basis, how And about margin? gross for software your impact about How that operating think up of what sounds first just Swivel’s does gross margin, the OpEx? obviously would I because this how helpful? does mean for I profile, any guess But just different, to up, I mix, as but gross probably, expenses well, to operating I a it is but vary it's going be And the due all do your what because goes like mean, much, on just I margin go contribution -- from and normalized imagine margin full-quarter imagine

Mike DePasquale

our this, say it announced and get I will XX:XX provide lot profitable, and we can't -- you drag put upside. color profitable, But there'll we'll Well, to now, Swivel be again, think, there those continue no a is again, be only in know, right that will as on we’ll I quarter, first numbers. I more be -- so will

first be model, the And quarter. better able be I announce little to as our model a to think, you'll so bit able year we you'll

Jack Vander Aarde

like in guidance understand scenario top revenues to and and were Africa on PortalGuard? picking Is right, then like back end And that more channel XXXX another, I the a really guidance of, is scenario? the growth to there so it then that I at bound that of driving core of recognize, end and the still million, that $XX that lower a $X going million worst-case is upper to range and the of tough those like but so At -- $XX guidance of Okay revenue potential could to just -- [indiscernible] Swivel, business -- just understand from like, $X the low it’s contract just from of kind of million, million it can out it's doesn't a core worst-case business any the the Africa to Africa up trying ranges? include XX:XX side, Swivel you no incorporate of happen, probably baked all obviously, of and the range, try then was if if for just, million. the assume BIO-key million and flat little to better the question know, $XX $X terms revenue from it’s the

Mike DePasquale

we and I that out, approach ultra you was pretty XX:XX I on articulate figured conservative think it saying took think said clear an think, I I Africa. it, you in

look valuations is prepared management governance clear, space, particular I minimalist speaking for you especially in it the element starting in authentication my to in about and and a funding comments, at if When make be very significant and subscription-based we the of at Identity a rounds. like when of contracted they XX:XX we're amazing. will a again the believe will for guidance. we revenue, been that if in is in access companies what happen, episode, example opportunities and the happens in And now the if sure are described space sector the but we've There look taking mentioned security it few there XX% taken roll, now here, multiples So Cisco. have you recurring. pretty there and the is it's quite you’d conference Access which I've a like It's privileged and in saying Management division approach that well we OKTA space, I larger another it happens do at big is SailPoint this is, companies look BIO-key's conservative a approach our of

valuations in position opinion in good really us Our Access our just a for position multiples and upside. space, solely centered the good around investors very Management put a and my in Identity

called mobile halfway authentication in with So go and I'm last through that because value which authentication product for announced but go offer meaning real is computer, expanding only or positive a last super the the to method may months has the Identity to identification the a centers be again from it's not XX:XX narrative MFA. the see way, an palm, business, the be with information the was an We been our is product there margin, I'm mobile trying recurring, Identity going few, and of ability Biometrics the of behind to here, it's in CIA company additional demand because the near-term will positive, Access over our BIO-key year us off Management around to solution is particular because we the high customer going end the sitting who Bound six accessing of first that to you palm for again announcements individual, in consummating forward BXC. go give us incredible XX-days, biometric some back the transaction. will last unfortunately change the world are strong to if changed of the day, the over And at one

to them some very, of to based profitability a And doing to biometric are for advantage is good in consumer without again, data take than their think is we our on and be profitably, it year and absolutely growing growing customers, the to [house] focus going and company have this able guidance IAM (ph) predominantly information sooner use that. that into very getting my who so enterprise customers mantra we position coming business to it rather later. authentication to their to portals, So of and be our our

Jack Vander Aarde

Thank Okay, fantastic. I appreciate I the Well, time. color you. appreciate XX:XX the and

Operator

XX:XX a he private comes [indiscernible], question [Operator Dan go from Instructions] Today's ahead. investor. next is Please

Unidentified Analyst

Good XX:XX morning.

Mike DePasquale

morning, Good XX:XX Dan.

Unidentified Analyst

customers to was the PortalGuard? XX:XX Swivel so Yes, if is long-term all transition to wondering of I -- plan

Mike DePasquale

they we be to there that well. support market have the will biometrics. those many with the to ultimately move stay say that the that But and begin But enhanced the because and to continue as to capability nature because customers and platform. will of security of have sell that I PortalGuard, ability ultimately, product those with to XX:XX product a shift, our would of of of some customers will PortalGuard

Unidentified Analyst

Okay. XX:XX

difficulties to customers in be they it part? question are much your So additional pretty Or ProGuard, development in Swivel is the technical require turnkey? -- switching there next would

Mike DePasquale

utilize factors Swivel they XX:XX They Those our which solutions, strong our solution, biometric mobile cloud, of customers they off. well we course advantage as and identity provide XX take what Pretty our can today. that authentication options, much of that's on-prem And bound as the utilize if integrated can provide the can again of turnkey. desire. authentication

hurdle them for So other. there's go really no or the one to technical

Unidentified Analyst

Mr. if question. can XX:XX he I he can't he that's if guess $X believes some give you could to too. if wondering, Rocha, just that? okay, you me I'm XXXK double that Okay. his have color just wondering, for a I'm the question million, I Or can earnings why on answer from

Alex Rocha

course. Of XX:XX

thank First for all, the of question. you

is here effort what to we're going to think the I happen. that combined going make see

it's see, that been That we for continue expect simple present. of and see that's brand think Everything we going IBB now with you make difference. have this to if in we have associated our going to means, agreed, Okay, to already we products, to again, again a don't also today is process have we're year-over-year. the what be normal revenue in what But our the behind The numbers, Swivel positive but double and a we revenue. have platform going IBB going make now, difference very three this I what platform. right NYSAC and been to right present profit going strategy doing be you're Secure years. the is we growing line to is

Unidentified Analyst

you. thank Okay, XX:XX

has to Let me hardware Nigeria, switch Nigeria XXXK delivery paid any more yet? the of

Mike DePasquale

to paid that hoping the to setting going going to quite It’s described then but the they that's Jack we're my before along are XX:XX frankly. up that paid banking comments, Yes, answers really significantly all that, prepared they in some. accelerate And help. up been my I some these hold in in near-term. and relationships That's slow,

Unidentified Analyst

XX:XX Okay. to pretty we of be expect guidance Should revenue much back the back-end loaded XXXX? the in half

Mike DePasquale

not. absolutely no, No, XX:XX

the more it I predictable. be think as more I expect even recurring of we our revenue nature with described, now, I've extensively stream and to right subscription-based think

back-end don't weighted. believe I will it be that So

Unidentified Analyst

revenues XX:XX based Sterling been there any so know on Fantastic. the received early. deal, it's I Have far, Bank

Mike DePasquale

a don't Yes, you. bank of note open so little slow. background side really biggest say Yes, XX:XX The you knowledge Equifax's world in do report, board there. example information That's them, yes. when we’re questions account some for are for it’s making or to KYC, base you operate the They'll get ensure you the you they to a on that the are, experience use a know example, are. who for because, is they challenge bank on world, of progress, third you credit the who here, or you challenge can TransUnion's significant kind it’s needs need a to

who takes with, take or Europe so for they're challenge would for example a a or here it longer knowing US so them, doing business world. big developed lot the in in And it in than the that's

Unidentified Analyst

XX:XX in egg. Like the chicken

Mike DePasquale

an to amazing business XX:XX can because Yes, run X you so critically, impossible. here that it's an tying you almost -- it really, And in that's you anyone report is why an you times do a month, as credit world, it's on kind can want. on But that's a individual. identity it third and critically can again important, individual of if continually the a individual monitor

who they system place is you individual you they or really access one once So have travel to or another as then one a that from another. know Bound Identity,

and doing the no beginning with Bank that what here, all countries accomplish that is in So in right out is be only of to way that to of as pull the transformation that's enrollments to credibility other phases right. ecosystem digital of Africa again create able and and in we're an Nigeria well. has essence to what the Knowing going trying World poverty batch the people they're

Unidentified Analyst

let's stuff out XX:XX say, Okay, that major If, in and I from of assume coming flow. the really the Africa to to knocking stop market? and understand. to What's out let’s roll start competitors this revenues starts

Mike DePasquale

our of we will also pretty solutions equipment, where manufacturing XX:XX Number one, we identity two which I described some to a I have platforms, know, to to far things: to and before, pretty create, source very one. incorporating -- across lot that's and access our number quickly, produce along barrier and as be pretty you in would number software to say Well, able are good two, inventory entry. are management we strong now those a

of if mentioned are go have by will XX:XX traditional through customers, many factors immediately -- support really and the it them are all banking solutions Our all biometric defenses. strengthen the I our strongest hacked, the authentication biometric before, that pretty that biometrics, cyber getting county barrier at the mobile authentication compromised. are an of it They the integrated many that our can going positively the I has number again We won't of is That's their that getting banks -- that's technology, only of why of again. that way board one that are government behind be and because technologies they dropped the our innate a customers and any customer, especially identify entry. to biometric available, it's of significant provide Kim to automatically across form at Look to only want individual mentioned transaction. the a players IAM

not can managed it sense it as a the of can do to grab to in remain we'll do if we us way, but doesn't, in as we full end the we can control it it. we it that right? for a long complete to and solution, It’s And going entry to So sourcing spend if do just go makes I of component we're of and million at us that's we think not do for look, the barrier continues hardware, that make solution, one the provide sense $XX us, to day, won't. it, for and the it margin if

Unidentified Analyst

question you in you're say order last the executive of bulls-eye periphery? too. just the Would XXXX Okay, here this XX:XX security or in

Mike DePasquale

that XX:XX in have that, know, tremendous comment I an But area. have awful I Kim we're on as lot maybe been don't comments. but we're advantages, would work I some the will Kim will we've let say of probably doing described. you just You also, around because bulls-eye, additional

Kimberly Biddings

XX:XX Dan right in I so it. think agree, Yes. and the of Sure, I bull's-eye

what cyber compelling XX-years to Identity-Bound mentioned been past of Looking a at strengthening today. effects there's finally bring and companies at needs time government, as more the handle even authentication help use been especially attacks this to really Biometrics the the the be even to security, are it and their never that defenses seen their where to to county posture we security in government what we've have do point happening

in offer us the adding a to of it, for, places. square our multi-factor government zero executive of we bull's-eye not order is So trust available in strengthening have and within authentication in to terms competitively that other we them defenses something customers what coming is are the with position speaking square that a

position. go and this the year to in into bulls-eye excited in right very So that

Unidentified Analyst

any you showing all have reaches any statistically you that website or statistical that? have is evidence up do in at calls for or yet Kim, like or Okay. XX:XX

Kimberly Biddings

XX:XX In the terms with or government of traction implementations the actual customer.

Unidentified Analyst

around. that XX:XX of Yes, or terms in

Kimberly Biddings

from and leaning Association to are is influx of the now events, national customer the us the in leadership, that Association National a and at there. the continued there that county read part participation they're guidance at the -- speaking spot but the state they really into acquisition, mean example I actually not is in partners that and participation I and Counties like through really New those provide also and our our great York with leaning is Counties had State XX:XX mentions I of in traction government of engagements, only level the to seen in

Unidentified Analyst

ahead, that's see, great, Last XX:XX great. question, yes, that's I go Mike.

Mike DePasquale

we has we XX:XX that make almost to county of start going is government than No, it's cycle only counties that also from side closed, a on comment, number amazed other one Dan us I sales was less really a days, were the seen that finish a of XX to amazing. these interesting, which cycle we’ve in

requirement good it happen. a allocated the something money awareness done And and to make that's can on we're also money happen to then think of and example be done, I make to also emergency it as heightened and an needed get it quickly. get available So basis

So it's be a now. good to place right

Unidentified Analyst

in XX:XX pick XX did XX pick Well, that how you must have Why could they they or been days competitive. in you days.

to just Sorry I'm you, ask curious?

Mike DePasquale

it's I think pretty straightforward. Well, XX:XX

requirements, they them we long have buying quickly they very the to very, have very move can vehicles know, partners, as as heightened You participate they issues a a in, it’s have face. they that with and need, they awareness that we compliance are And available for easy under our buy.

And selling vehicle through you, there can that's directly how are and SHI our is so procuring buying a they directly others, to county, with millions that an are support we not people partner quickly. the like you're the really, that's though procuring you buy even trick are what so that they work they through understand that is a so don't

Unidentified Analyst

who competitors were were you can XX:XX Last question, the say hacked? that

Mike DePasquale

over news. all XX:XX was Okta the was so I the X public it's think broad, it information,

I was so week ago. or announced, that clearly So maybe pretty one guess a

one clearly won't. I that talk other, So I can about the

Unidentified Analyst

guys XX:XX Okay, thank questions. answering very my you much all for

Mike DePasquale

You're XX:XX welcome.

Operator

to over any and ladies the Mike Again Instructions] to remarks. concludes back turn for the [Operator this gentlemen, XX:XX question-and-answer like I’d session. closing conference DePasquale

Mike DePasquale

which XXrd and joining on the XX:XX to participate you business. H.C. to within occur news to will day. time continue as May press and provide great Again, and you updates developments regular have releases the XXth Wainwright the we is a Conference, your for thank and today's meantime, look QX in Thank forward updating we which will I everyone now. our around the call call. in pretty will for thank come In We May, quickly want you. just to

Operator

today's XX:XX Again, call. We concludes thank ladies for and in you today's all attending conference gentlemen, presentation. this

now disconnect day. have wonderful lines a may your and You

BIO-key International (BKYI) 29 Mar 222021 Q4 Earnings call transcript