Verifyme Inc Financials

VRME

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Verifyme Inc (VRME) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 25 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

$24.2M

YoY-4.4%

5Y CAGR+150.6%

10Y CAGR+69.4%

Verifyme Inc generated $24.2M in revenue in fiscal year 2024. This represents a decrease of 4.4% from the prior year.

EBITDA

-$3.2M

YoY-44.8%

Verifyme Inc's EBITDA was -$3.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 44.8% from the prior year.

Free Cash Flow

$864K

YoY+298.2%

Verifyme Inc generated $864K in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 298.2% from the prior year.

Net Income

-$3.8M

YoY-12.8%

Verifyme Inc reported -$3.8M in net income in fiscal year 2024. This represents a decrease of 12.8% from the prior year.

EPS (Diluted)

$-0.37

YoY-5.7%

Verifyme Inc earned $-0.37 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 5.7% from the prior year.

Cash & Debt

$2.8M

YoY-6.9%

5Y CAGR+62.0%

10Y CAGR+46.0%

Verifyme Inc held $2.8M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

11M

YoY+4.1%

5Y CAGR+36.4%

10Y CAGR+11.3%

Verifyme Inc had 11M shares outstanding in fiscal year 2024. This represents an increase of 4.1% from the prior year.

Gross Margin

35.8%

YoY+4.1pp

5Y CAGR-45.9pp

10Y CAGR+26.5pp

Verifyme Inc's gross margin was 35.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 4.1 percentage points from the prior year.

Operating Margin

-18.1%

YoY-5.0pp

5Y CAGR+974.5pp

10Y CAGR+10869.1pp

Verifyme Inc's operating margin was -18.1% in fiscal year 2024, reflecting core business profitability. This is down 5.0 percentage points from the prior year.

Net Margin

-15.8%

YoY-2.4pp

5Y CAGR+1007.5pp

10Y CAGR+6339.4pp

Verifyme Inc's net profit margin was -15.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 2.4 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$70K

YoY-34.6%

5Y CAGR+69.5%

10Y CAGR-39.5%

Verifyme Inc invested $70K in research and development in fiscal year 2024. This represents a decrease of 34.6% from the prior year.

Share Buybacks

$18K

YoY+80.0%

Verifyme Inc spent $18K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 80.0% from the prior year.

Capital Expenditures

$7K

YoY-74.1%

Verifyme Inc invested $7K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 74.1% from the prior year.

VRME Income Statement

Metric	FY24	FY24	FY23	FY22	FY20	FY20
Revenue	$24.2M-4.4%	$25.3M+29.3%	$19.6M+2157.9%	$867K+152.8%	$343K+40.0%	$245K
Cost of Revenue	$15.5M-10.1%	$17.3M+32.1%	$13.1M+4783.6%	$268K+332.3%	$62K+37.8%	$45K
Gross Profit	$8.7M+7.9%	$8.0M+23.7%	$6.5M+983.1%	$599K+113.2%	$281K+40.5%	$200K
R&D Expenses	$70K-34.6%	$107K+20.2%	$89K+74.5%	$51K+168.4%	$19K+280.0%	$5K
SG&A Expenses	$3.9M-12.8%	$4.4M-47.6%	$8.4M+99.9%	$4.2M+96.0%	$2.2M+58.3%	$1.4M
Operating Income	-$4.4M-31.9%	-$3.3M+11.2%	-$3.7M+22.4%	-$4.8M-35.4%	-$3.6M-46.7%	-$2.4M
Interest Expense	-$130K+19.3%	-$161K-83.0%	-$88K-4500.0%	$2K+100.1%	-$2.1M-2016.5%	-$97K
Income Tax	$0	$0	N/A	N/A	N/A	N/A
Net Income	-$3.8M-12.8%	-$3.4M+76.5%	-$14.4M-498.6%	$3.6M+161.2%	-$5.9M-135.4%	-$2.5M
EPS (Diluted)	$-0.37-5.7%	$-0.35+79.4%	$-1.70-446.9%	$0.49+133.1%	$-1.48-26.5%	$-1.17

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$5.0M+11.3%	$4.5M+1.5%	$4.5M	N/A	$5.4M+1.6%	$5.4M-7.1%	$5.8M	N/A
Cost of Revenue	$3.0M+1.1%	$2.9M-1.2%	$3.0M	N/A	$3.5M+8.5%	$3.3M-6.8%	$3.5M	N/A
Gross Profit	$2.1M+30.3%	$1.6M+6.8%	$1.5M	N/A	$1.9M-9.3%	$2.1M-7.5%	$2.3M	N/A
R&D Expenses	$5K0.0%	$5K0.0%	$5K	N/A	$5K0.0%	$5K-90.9%	$55K	N/A
SG&A Expenses	$669K-6.6%	$716K-16.4%	$856K	N/A	$778K-13.0%	$894K-20.2%	$1.1M	N/A
Operating Income	-$3.4M-965.8%	-$322K+45.7%	-$593K	N/A	-$2.9M-435.4%	-$536K+17.2%	-$647K	N/A
Interest Expense	$67K+109.4%	$32K+45.5%	$22K	N/A	-$29K+31.0%	-$42K-10.5%	-$38K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$3.4M-1053.3%	-$291K+49.0%	-$571K	N/A	-$2.4M-600.6%	-$346K+37.4%	-$553K	N/A
EPS (Diluted)	$-0.26-1200.0%	$-0.02+60.0%	$-0.05	N/A	$-0.23-666.7%	$-0.03+40.0%	$-0.05	N/A

VRME Balance Sheet

Metric	FY24	FY24	FY23	FY22	FY20	FY20
Total Assets	$16.1M-22.4%	$20.7M-0.2%	$20.8M-4.3%	$21.7M+147.2%	$8.8M+830.4%	$943K
Current Assets	$6.4M-17.2%	$7.7M-18.7%	$9.5M-5.5%	$10.0M+22.1%	$8.2M+1734.7%	$447K
Cash & Equivalents	$2.8M-6.9%	$3.0M-9.4%	$3.3M-64.5%	$9.4M+18.7%	$7.9M+3037.9%	$253K
Inventory	$39K+2.6%	$38K-53.1%	$81K+55.8%	$52K-3.7%	$54K+80.0%	$30K
Accounts Receivable	$2.6M-12.6%	$3.0M-32.2%	$4.4M+1397.6%	$297K+858.1%	$31K-61.7%	$81K
Goodwill	$4.0M-25.9%	$5.4M+35.0%	$4.0M	N/A	N/A	N/A
Total Liabilities	$5.9M-28.4%	$8.2M+14.1%	$7.2M+1275.4%	$521K+14.5%	$455K-55.0%	$1.0M
Current Liabilities	$4.2M-17.5%	$5.1M-5.3%	$5.4M+1106.4%	$450K+17.5%	$383K-62.1%	$1.0M
Long-Term Debt	N/A	$875K-37.5%	$1.4M	N/A	N/A	N/A
Total Equity	$10.2M-18.5%	$12.5M-7.8%	$13.6M-35.8%	$21.2M+154.4%	$8.3M+12516.4%	-$67K
Retained Earnings	-$85.7M-4.7%	-$81.8M-4.3%	-$78.5M-22.5%	-$64.1M+5.3%	-$67.7M-9.6%	-$61.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$13.3M-22.7%	$17.2M+0.4%	$17.1M+6.4%	$16.1M+8.3%	$14.8M-15.4%	$17.5M-2.0%	$17.9M-13.6%	$20.7M
Current Assets	$7.9M+0.1%	$7.9M+2.5%	$7.7M+20.6%	$6.4M+32.0%	$4.8M-5.5%	$5.1M-2.4%	$5.2M-32.0%	$7.7M
Cash & Equivalents	N/A	N/A	N/A	$2.8M+8.2%	$2.6M-10.0%	$2.9M+5.3%	$2.8M-9.1%	$3.0M
Inventory	$32K-22.0%	$41K-12.8%	$47K+20.5%	$39K+105.3%	$19K-17.4%	$23K-28.1%	$32K-15.8%	$38K
Accounts Receivable	$1.1M+2.5%	$1.1M+15.2%	$955K-63.8%	$2.6M+119.7%	$1.2M-1.2%	$1.2M+1.4%	$1.2M-60.3%	$3.0M
Goodwill	$2.9M-26.6%	$4.0M0.0%	$4.0M0.0%	$4.0M0.0%	$4.0M-25.2%	$5.3M+0.5%	$5.3M-1.4%	$5.4M
Total Liabilities	$2.2M-20.9%	$2.7M+11.3%	$2.5M-58.1%	$5.9M+28.7%	$4.5M-13.8%	$5.3M-4.1%	$5.5M-32.7%	$8.2M
Current Liabilities	$2.1M+9.8%	$1.9M+17.5%	$1.6M-61.1%	$4.2M+53.3%	$2.8M-5.5%	$2.9M+4.8%	$2.8M-45.7%	$5.1M
Long-Term Debt	N/A	N/A	N/A	N/A	$500K-16.7%	$600K-25.0%	$800K-8.6%	$875K
Total Equity	$11.1M-23.1%	$14.4M-1.4%	$14.6M+43.4%	$10.2M-0.6%	$10.3M-16.1%	$12.3M-1.1%	$12.4M-1.1%	$12.5M
Retained Earnings	-$89.9M-3.9%	-$86.5M-0.3%	-$86.2M-0.7%	-$85.7M-0.6%	-$85.2M-2.9%	-$82.7M-0.4%	-$82.4M-0.7%	-$81.8M

VRME Cash Flow Statement

Metric	FY24	FY24	FY23	FY22	FY20	FY20
Operating Cash Flow	$871K+257.0%	$244K+109.6%	-$2.6M+21.6%	-$3.3M-42.7%	-$2.3M-44.5%	-$1.6M
Capital Expenditures	$7K-74.1%	$27K	N/A	$12K	N/A	N/A
Free Cash Flow	$864K+298.2%	$217K	N/A	-$3.3M	N/A	N/A
Investing Cash Flow	-$575K+51.9%	-$1.2M+84.8%	-$7.9M-176.5%	-$2.9M-2180.8%	-$125K+58.6%	-$302K
Financing Cash Flow	-$616K-197.2%	$634K-85.7%	$4.4M-41.7%	$7.6M-24.8%	$10.1M+2089.2%	$461K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$18K+80.0%	$10K-96.6%	$291K-59.9%	$725K	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	N/A	N/A	-$404K	N/A	N/A	N/A	-$60K	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$2K	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$62K	N/A
Investing Cash Flow	N/A	N/A	-$156K	N/A	N/A	N/A	-$110K	N/A
Financing Cash Flow	N/A	N/A	$3.4M	N/A	N/A	N/A	-$106K	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	$1K	N/A

VRME Financial Ratios

Metric	FY24	FY24	FY23	FY22	FY20	FY20
Gross Margin	35.8%+4.1pp	31.7%-1.4pp	33.1%-35.9pp	69.1%-12.8pp	81.9%+0.3pp	81.6%
Operating Margin	-18.1%-5.0pp	-13.2%+6.0pp	-19.1%+538.1pp	-557.2%+483.0pp	-1040.2%-47.6pp	-992.7%
Net Margin	-15.8%-2.4pp	-13.4%+60.2pp	-73.6%-490.2pp	416.6%+2137.3pp	-1720.7%-697.4pp	-1023.3%
Return on Equity	N/A	N/A	N/A	17.1%	N/A	N/A
Return on Assets	-23.8%-7.4pp	-16.4%+53.0pp	-69.4%-86.0pp	16.7%+83.9pp	-67.3%+198.6pp	-265.9%
Current Ratio	1.500.0	1.50-0.2	1.74-20.5	22.25+0.8	21.41+21.0	0.44
Debt-to-Equity	0.57+0.5	0.07-0.0	0.10+0.1	0.02-0.0	0.05+15.1	-15.07
FCF Margin	3.6%+2.7pp	0.9%	N/A	-376.7%	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	41.2%+6.0pp	35.2%+1.7pp	33.5%	N/A	34.9%-4.2pp	39.1%-0.2pp	39.2%	N/A
Operating Margin	-68.2%-61.1pp	-7.1%+6.2pp	-13.3%	N/A	-52.8%-42.8pp	-10.0%+1.2pp	-11.2%	N/A
Net Margin	-66.7%-60.2pp	-6.4%+6.4pp	-12.8%	N/A	-44.6%-38.1pp	-6.5%+3.1pp	-9.6%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-25.3%-23.6pp	-1.7%+1.6pp	-3.3%	N/A	-16.4%-14.4pp	-2.0%+1.1pp	-3.1%	N/A
Current Ratio	3.70-0.4	4.06-0.6	4.66+3.2	1.50-0.2	1.740.0	1.74-0.1	1.87+0.4	1.50
Debt-to-Equity	0.190.0	0.19+0.0	0.17-0.4	0.57+0.5	0.050.0	0.05-0.0	0.060.0	0.07
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-1.1%	N/A

Financial Health Signals

Financial Profile 33/100

Profitability

Growth

Leverage

Liquidity

Cash Flow

Returns

N/A

Based on FY2024 annual data. Scores normalized against common benchmarks.

Piotroski F-Score Neutral

6/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Mixed

-0.23x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

Interest Coverage At Risk

-33.8x

Operating income vs interest expense. Above 5x = safe, below 2x = risky.

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Frequently Asked Questions

What is Verifyme Inc's annual revenue?

Verifyme Inc (VRME) reported $24.2M in total revenue for fiscal year 2024. This represents a -4.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Verifyme Inc's revenue growing?

Verifyme Inc (VRME) revenue declined by 4.4% year-over-year, from $25.3M to $24.2M in fiscal year 2024.

Is Verifyme Inc profitable?

No, Verifyme Inc (VRME) reported a net income of -$3.8M in fiscal year 2024, with a net profit margin of -15.8%.

What is Verifyme Inc's earnings per share (EPS)?

Verifyme Inc (VRME) reported diluted earnings per share of $-0.37 for fiscal year 2024. This represents a -5.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Verifyme Inc's EBITDA?

Verifyme Inc (VRME) had EBITDA of -$3.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Verifyme Inc's gross margin?

Verifyme Inc (VRME) had a gross margin of 35.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Verifyme Inc's operating margin?

Verifyme Inc (VRME) had an operating margin of -18.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Verifyme Inc's net profit margin?

Verifyme Inc (VRME) had a net profit margin of -15.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Verifyme Inc's free cash flow?

Verifyme Inc (VRME) generated $864K in free cash flow during fiscal year 2024. This represents a 298.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Verifyme Inc's operating cash flow?

Verifyme Inc (VRME) generated $871K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Verifyme Inc's total assets?

Verifyme Inc (VRME) had $16.1M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Verifyme Inc's capital expenditures?

Verifyme Inc (VRME) invested $7K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Verifyme Inc spend on research and development?

Verifyme Inc (VRME) invested $70K in research and development during fiscal year 2024.

Does Verifyme Inc buy back shares?

Yes, Verifyme Inc (VRME) spent $18K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Verifyme Inc have outstanding?

Verifyme Inc (VRME) had 11M shares outstanding as of fiscal year 2024.

What is Verifyme Inc's current ratio?

Verifyme Inc (VRME) had a current ratio of 1.50 as of fiscal year 2024, which is generally considered healthy.

What is Verifyme Inc's debt-to-equity ratio?

Verifyme Inc (VRME) had a debt-to-equity ratio of 0.57 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Verifyme Inc's return on assets (ROA)?

Verifyme Inc (VRME) had a return on assets of -23.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Verifyme Inc's Piotroski F-Score?

Verifyme Inc (VRME) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are Verifyme Inc's earnings high quality?

Verifyme Inc (VRME) has an earnings quality ratio of -0.23x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.

Can Verifyme Inc cover its interest payments?

Verifyme Inc (VRME) has an interest coverage ratio of -33.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline.

How financially healthy is Verifyme Inc?

Verifyme Inc (VRME) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks.