Verifyme Inc Stock Price, News & Analysis

VerifyMe (NASDAQ: VRME) has recently gained media attention due to the growing counterfeit risks associated with e-commerce. With 2020 online holiday sales projected to reach $173 billion, the company emphasizes the importance of its security authentication technologies. CEO Keith Goldstein warns that consumers may inadvertently contribute to counterfeiting by seeking cheaper online deals. VerifyMe's technology provides a track-and-trace solution to authenticate products throughout the supply chain.

VerifyMe, Inc. (NASDAQ: VRME) announced its collaboration with HP Indigo at the Asia Security Group Virtual High Security Printing & Brand Protection Conference on December 16-17, 2020. The conference aims to address challenges faced by brand owners in combating counterfeiting in a post-COVID-19 landscape. VerifyMe's RainbowSecure solution, which utilizes invisible security inks, will be showcased in partnership with HP Indigo. This collaboration aims to enhance anti-counterfeiting efforts through advanced technologies, helping brand owners protect their products in a changing market.

VerifyMe (NASDAQ: VRME) announced its participation in the 13th annual LD Micro Main Event on December 15, 2020, at 9:20 AM EST. CEO Patrick White will present live to a virtual audience. This event features a new format with 10-minute presentations followed by Q&A sessions with investors and analysts, aiming to enhance engagement. The conference occurs on December 14-15 on the Sequire Virtual Events platform. VerifyMe specializes in brand protection through counterfeit prevention and authentication technologies.

VerifyMe (NASDAQ:VRME) is set to sponsor and participate in the Virtual High Security Printing & Brand Protection Conference on December 16-17, 2020. The event will gather brand owners from various sectors including pharmaceuticals, FMCG, and automotive, focusing on challenges in combating counterfeit products exacerbated by the COVID-19 pandemic. VerifyMe specializes in brand protection technologies like counterfeit prevention and authentication through its VeriPAS™ serialization software, enhancing product safety and consumer confidence.

VerifyMe (NASDAQ: VRME) plans a share repurchase of up to $1.5 million over the next nine months, utilizing its $9 million cash reserves as of September 30, 2020. The initiative aims to enhance stockholder value by reducing outstanding shares while ensuring adequate cash for operations. VerifyMe's President and CEO, Patrick White, emphasized this commitment to improving the investment value of their stock. The share buyback's timing and amount will depend on market conditions and can be suspended at any time.

VerifyMe (NASDAQ: VRME) reported a 79% increase in Q3 2020 revenue, totaling $100,697, compared to $56,255 in Q3 2019. Gross margins stood at 82%, down from 85% a year earlier. Operating loss rose 48% to $982,829, while net loss increased 39% to $706,548. The company maintains a cash balance of $9 million and anticipates growing revenues from a sales pipeline estimated at over $12 million. New partnerships with Corsearch and SmartGlyph are expected to enhance business opportunities in combating counterfeiting.

VerifyMe, Inc. (NASDAQ: VRME) will present at the Sidoti & Company Virtual Investor Conference on November 19, 2020, at 12:15pm ET. CEO Patrick White will also hold one-on-one virtual meetings throughout the day. VerifyMe specializes in brand protection, offering solutions in counterfeit prevention and product authentication through technology like its VeriPAS™ serialization software. Interested parties can schedule meetings via Sidoti & Company representatives or contact Sasha Murray for more details.

VerifyMe (NASDAQ: VRME) announced a new partnership with OWS Capital to market its security authentication technology in the UAE and Middle East. This collaboration aims to target government entities and regional companies with solutions like the “VerifyMe As Authentic®” labels, designed to combat counterfeit products. The CEO emphasized significant growth opportunities in this market, bolstered by initial government interest.

VerifyMe, Inc. (NASDAQ: VRME) has renewed its Global Product Authentication Service Program Agreement with Micro Focus for three years. This partnership, originally established in December 2017, enhances VerifyMe’s offerings in brand protection and counterfeiting prevention. The agreement strengthens the VeriPAS™ software platform, allowing brand owners to monitor product life cycles and engage consumers effectively. Both companies see significant market potential as they address rising demand across various industries for robust authentication solutions.