VerifyMe, Inc.

Earnings data Q1 2021

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VerifyMe, Inc. (VRME) reports robust Q1 performance and strategic growth outlook

VerifyMe, Inc. delivered a strong performance in Q1 2024, showcasing revenue growth, improved profitability, and a positive adjusted EBITDA for the third consecutive quarter.
While facing challenges in certain segments and debt management, the company's strategic focus on cost management and revenue growth positions it well for future success.
By leveraging opportunities in expanding customer bases and enhancing operational efficiency, VerifyMe, Inc. can drive sustained growth and profitability in the coming quarters.

VerifyMe, Inc. reports steady revenue but boosts profitability in Q2 2024

VerifyMe, Inc. (VRME) showed steady revenue but notable improvements in profitability metrics and positive adjusted EBITDA for Q2 2024.
Challenges include an anticipated negative adjusted EBITDA for Q3 and hurdles in the Precision Logistics segment due to reduced shipping volumes.
However, the company's focus on expanding its customer base and strengthening key relationships presents growth opportunities for 2024 and beyond.
Overall, VerifyMe, Inc. (VRME) aims for financial stability and growth amidst operational challenges and market dynamics.

VerifyMe, Inc. reports mixed Q3 results, shifts focus to Precision Logistics

VerifyMe, Inc. showed mixed financial performance in Q3 2024, with improved margins but disappointing revenue growth.
Strategic decisions to exit the Authentication segment and focus on Precision Logistics signal a shift in company direction.
Challenges include revenue decline, increased operating expenses, and concerns about cash position and debt.
Opportunities lie in leveraging core strengths, reallocating resources, and potential growth in the Precision Logistics segment.

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VerifyMe, Inc. engages in the provision of software driven predictive analytics logistics. It operates under the PeriShip Global Solutions and VerifyMe Solutions segments. The PeriShip Global Solutions segment offers a value-added service provider for time and temperature sensitive parcel management. The VerifyMe Solutions segment specializes in solutions that connect brands with consumers through their products. The company was founded by Norman A. Gardner on November 10, 1999 and is headquartered in Lake Mary, FL.

VerifyMe Inc (NASDAQ: VRME) has received an initial order for 4 million VerifyMe technology-enabled labels from a new cannabis-related client. The financial terms of the order were not disclosed.

VerifyMe Bags Order For 4M Brand Protection Labels From Undisclosed Cannabis Client

ROCHESTER, NY / ACCESSWIRE / September 1, 2021 / VerifyMe, Inc. (NASDAQ:VRME) ("VerifyMe," "we," "our," or the "Company"), connects a brand's products with consumers using unique smart phone readable codes announced today that it has received an initial order for 4 million VerifyMe technology enabled labels from a new cannabis related client. The client has expressed a need for approximately 3-5 million labels per month on a going forward basis, although the client is not obligated to order any additional labels from the Company.

VerifyMe Receives Initial Order for 4 Million Brand Protection Labels from New Cannabis Client

Added to Russell Microcap Index Strong Cash Position of $11.4 Million at June 30, 2021 Successful Completion of SPAC Investment in July 2021 ROCHESTER, NY / ACCESSWIRE / August 13, 2021 / VerifyMe, Inc. (NASDAQ:VRME) ("VerifyMe," "we," "our," or the "Company"), a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, today announced the Company's financial results for the second quarter ended June 30, 2021 ("Q2 2021"). Key Financial Highlights for Q2 2021: Revenues of $124 thousand for the three months ended June 30, 2021 increased by 65% compared to $75 thousand for the three months ended June 30, 2020 Net loss of $1,358 thousand or ($0.18) fully diluted loss per share for the three months ended June 30, 2021 compared to a net loss of $2,653 thousand or ($1.04) fully diluted loss per share for the three months ended June 30, 2020 Adjusted EBITDA, a non-GAAP financial measure, loss of $884 thousand for the three months ended June 30, 2021 compared to an adjusted EBITDA loss of $353 thousand for the three months ended June 30, 2020, Scott Greenberg, VerifyMe's Chairman of the Board of Directors, stated, "that although revenues grew by 65% for the quarter ended June 30, 2021 compared to the second quarter of 2020, this revenue growth was below expectations.

VerifyMe Reports Second Quarter 2021 Results

SPAC is targeting businesses with enterprise values of approximately $250 million to $500 million within the technology and business services industry. ROCHESTER, NY / ACCESSWIRE / July 7, 2021 / VerifyMe, Inc. (NASDAQ:VRME) ("VerifyMe," "we," "our," or the "Company"), a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, is pleased to announce that G3 VRM Acquisition Corp., a special purpose acquisition company being co-sponsored by the Company ("G3 VRM Acquisition"), commenced trading on NASDAQ under the symbol "GGGVU".

VerifyMe Announces Closing of $106,260,000 Initial Public Offering, Including Partial Exercise of Overallotment Option, by Co-Sponsored SPAC - G3 VRM Acquisition Corp.

ROCHESTER, NY / ACCESSWIRE / June 8, 2021 / VerifyMe, Inc. (NASDAQ:VRME) ("VerifyMe," "we," "our," or the "Company"), a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, is pleased to announce that it is set to join the Russell Microcap® Index at the conclusion of the 2021 Russell indexes annual reconstitution, according to a preliminary list of additions released on June 4, 2021. The conclusion of the Russell US Index's annual reconstitution is effective after the US market opens on June 28, 2021.

VerifyMe Set to be Added to Russell Microcap(R) Index

New Application of its Technology in the Personal Protective Equipment Space Accelerated Revenue Growth Strong Cash Position of $15.4 Million ROCHESTER, NY / ACCESSWIRE / May 13, 2021 / VerifyMe, Inc. (NASDAQ:VRME) ("VerifyMe," "we," "our," or the "Company"), a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, today announced the Company's financial results for the first quarter ended March 31, 2021 ("Q1 2021"). Key Financial Highlights for Q1 2021: Revenues of $188 thousand for the three months ended March 31, 2021 compared to $92 thousand for the three months ended March 31, 2020 or an increase of 104% Gross profit of $145 thousand or 77% for the three months ended March 31, 2021 compared to $75 thousand or 82% for the three months ended March 31, 2020 Operating loss of $1,215 thousand for the three months ended March 31, 2021 compared to an operating loss of $669 thousand or an increase of 82% for the three months ended March 31, 2020 Net loss of $1,215 thousand or ($0.19) fully diluted loss per share for the three months ended March 31, 2021 compared to a net loss of $1,092 thousand or ($0.49) fully diluted loss per share for the three months ended March 31, 2020 Adjusted EBITDA, a non-GAAP financial measure, loss of $754 thousand for the three months ended March 31, 2021 compared to and adjusted EBITDA loss of $322 thousand for the three months ended March 31, 2020, or an increase of 134% Raised approximately $8,447 thousand in net proceeds in a bought deal of common stock priced at $5.30 per share with Maxim Group, including partial exercise of the over-allotment option Cash and cash equivalents of $15.4 million at March 31, 2021 Key Business Highlights for Q1 2021: Signed strategic partnership with Renavotio to add anti-counterfeiting, track and trace and brand protection solutions to Personal Protective Equipment; received and delivered an initial purchase order for 2 million pre-printed anti-counterfeiting labels for 2 million boxes of surgical gloves Commenced research on migration from a "software-as-a-service" business model to a "blockchain-as-a-service" technology for supply chain management, internet of things and product tracking, authentication and consumer engagement Signed sales agency agreement with Syntax Technology Ltd.

VerifyMe Reports 104% Revenue Growth for its First Quarter 2021 Results

ROCHESTER, NY / ACCESSWIRE / April 22, 2021 / VerifyMe, Inc. (NASDAQ:VRME) ("VerifyMe," "we," "our," or the "Company"), a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, today announced the appointment of existing Board member Scott Greenberg becoming Chairman of the Board. Founder and Chairman Norman Gardner is retiring from the VerifyMe Board of Directors for health reasons, effective April 21, 2021.

VerifyMe Announces Retirement of Chairman Norman Gardner and Appoints Scott Greenberg as Chairman of the Board

ROCHESTER, N.Y., April 15, 2021 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (NASDAQ: VRME) (“VerifyMe,” “we,” “our,” or the “Company”), a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, today announced that that G3 VRM Acquisition Corp., a special purpose acquisition company being co-sponsored by the Company ("G3 VRM Acquisition"), filed a Registration Statement on Form S-1 (the "Registration Statement") with the Securities and Exchange Commission ("SEC") in connection with a proposed initial public offering of its units.

VerifyMe, Inc. Announces Filing of Co-Sponsored SPAC Registration Statement

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Previously at De La Rue Authentication Solutions and DuPont Authentication Previously at De La Rue Authentication Solutions and DuPont Authentication

VerifyMe Appoints Brand Protection Sales and Marketing Professional Robert Dlugopolski as Regional Sales Manager

Strong Cash Position, Growing Roster of Strategic Partners and Solid Business Pipeline Expected to Lead to Accelerated Revenue Over the Next 12 Months ROCHESTER, NY / ACCESSWIRE / March 25, 2021 / VerifyMe, Inc. (NASDAQ:VRME) ("VerifyMe," "we," "our," or the "Company"), a technology solutions provider specializing in brand protection functions such as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and products, today announced the Company's financial results for the year ended December 31, 2020. Key Financial Highlights for 2020: Revenues of $343 thousand for the year ended December 31, 2020 compared to $245 thousand for the year ended December 31, 2019 or an increase of 40% Gross profit of $281 thousand or 82% for the year ended December 31, 2020 compared to $200 thousand or 82% for the year ended December 31, 2019 Cash and equivalents of $7,939 thousand at December 31, 2020 compared to $353 thousand at December 31, 2019.

VerifyMe Reports 40% Revenue Growth for its Full Year 2020 Results and is Well-Positioned for Further Growth

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VerifyMe to Participate in M-Vest and Maxim Group Inaugural Emerging Growth Virtual Conference

ROCHESTER, N.Y., Feb. 23, 2021 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (NASDAQ: VRME) (“VerifyMe,” “we,” “our,” or the “Company”), a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, is pleased to announce it has received an initial purchase order for 2 million pre-printed anti-counterfeiting labels. The labels will be utilized for track and trace and brand protection for 2 million boxes of surgical gloves, a personal protective equipment (“PPE”) necessity in fighting the ongoing Covid-19 pandemic.

VerifyMe Awarded Initial Purchase Order for PPE Anti-Counterfeit Technology

Exercise Price of $5.30 – Balance of Option is 147,000 shares Exercise Price of $5.30 – Balance of Option is 147,000 shares

VerifyMe Announces Exercise by Maxim of 100,000 Shares From Over-allotment Option

ROCHESTER, N.Y., Feb. 16, 2021 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (NASDAQ: VRME) (“VerifyMe,” “we,” “our,” or the “Company”), a provider of comprehensive brand protection and customer engagement solutions that combine product smart phone authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, is pleased to announce that after working together for the past 18 months, it has executed a supply agreement with INX International Ink Company (“INX”).

VerifyMe and INX International Expand Partnership and Execute a Supply Agreement

ROCHESTER, N.Y., Feb. 09, 2021 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (NASDAQ: VRME) (“VerifyMe,” or the “Company”), a technology solutions provider specializing in brand protection functions such as counterfeit prevention, authentication, serialization, track and trace features for labels, packaging and products, today announced that it has entered into an underwriting agreement with Maxim Group LLC under which the underwriter has agreed to purchase, on a firm commitment basis, 1,650,000 shares of common stock of the Company, at a price to the public of $5.30 per share less underwriting discounts and commissions. The gross proceeds from the offering are expected to be approximately $8.75 million, before deducting underwriting discounts and commissions and estimated offering expenses.

VerifyMe Announces Pricing of $8.7 Million Bought Deal Offering of Common Stock

Company's Technology Solutions Protect Brands and Consumers from Counterfeits Company's Technology Solutions Protect Brands and Consumers from Counterfeits

VerifyMe Featured in Various Media Articles Regarding the Increase in Counterfeit Risk from the Proliferation of Online E-Commerce

December 16-17, 2020 December 16-17, 2020

VerifyMe and HP Indigo to Present Security Solutions at Virtual High Security Printing & Brand Protection Conference & Exhibition

ROCHESTER, N.Y., Dec. 09, 2020 (GLOBE NEWSWIRE) -- VerifyMe , Inc. (NASDAQ: VRME) (“VerifyMe,” “we,” “our,” or the “Company”), a solutions provider that helps brand owners monitor, control and protect their supply chain with software and counterfeit prevention technologies, today announced that it will be presenting at the 13th annual LD Micro Main Event investor conference on Tuesday, December 15 at 9:20am EST. Chief Executive Officer Patrick White will be presenting to a live, virtual audience. 

VerifyMe to Present at The 13th Annual LD Micro Main Event Conference

VerifyMe (NASDAQ: VRME) shares were moving Tuesday after the company announced a $1.5 million share buyback. VerifyMe is a technology solutions company based in the United States.

News for VerifyMe, Inc. Stock (VRME)