I understand that you want your customers to use the power of python but do not want expose the source code.
Here are my suggestions:
(a) Write the critical pieces of the code as C or C++ libraries and then use SIP or swig to expose the C/C++ APIs to Python namespace.
(b) Use cython instead of Python
(c) In both (a) and (b), it should be possible to distribute the libraries as licensed binary with a Python interface.