Verifyme Inc Stock Price, News & Analysis

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.

VerifyMe, Inc. (NASDAQ: VRME) provided a corporate update following its virtual annual shareholder meeting. The company reported a robust cash position of $9.6 million as of June 30, 2020, allowing for organic growth and potential acquisitions. With a sales pipeline exceeding $12 million, VerifyMe is expanding its technology into new markets, including significant opportunities in the apparel industry. The company has recently established partnerships with Corsearch and SmartGlyph to bolster brand protection services. VerifyMe's strategic collaboration with HP continues to enhance its market presence.

VerifyMe (NASDAQ: VRME) announced a significant expansion of its contract with a Forbes Top 50 Private Company, enhancing the use of its RainbowSecure® marking system. The partnership will extend to new products and markets in Japan, Vietnam, and Taiwan, with production expected to start in December 2020. This follows VerifyMe's initial contract awarded in May 2019. The expansion reflects the effectiveness of VerifyMe's technology, as the client confirmed its previous attempts with other technologies were unsuccessful. The business model focuses on deepening client relationships to drive further growth.

VerifyMe, Inc. (NASDAQ: VRME) announced that its CEO, Patrick White, will present at the LD Micro's 'LD 500' Virtual Investor Conference from September 1-4, 2020. White's presentation is scheduled for September 1 at 12:20 PM ET. The conference will feature over 350 companies, allowing executives to engage in one-on-one meetings with potential investors. White expressed excitement about the opportunity to share VerifyMe's strategy and vision with a broader investor audience, enhancing their presence in capital markets.

VerifyMe reported strong financial results for Q2 2020, with revenues rising 86% to $75,256 compared to $40,479 in Q2 2019. Gross margins remained robust at 82%. However, operating loss increased 11% to $741,672, and net loss surged 299% to $2,653,057. The company has a healthy cash balance of $9.6 million and alleviated going concern issues. Noteworthy developments include a Nasdaq listing, strategic partnerships, and expansion of their authentication technology in the cannabis sector.

VerifyMe (NASDAQ: VRME) has announced a partnership with SmartGlyph, a U.K.-based digital solutions provider. This collaboration aims to enhance brand protection technologies, including counterfeit prevention and product authentication. Both companies will engage in cross-selling their integrated solutions, potentially broadening market reach and generating incremental revenue. VerifyMe's CEO emphasized the partnership's alignment with their security products, particularly beneficial for the pharmaceutical sector. SmartGlyph aims to augment customer engagement through secure, interactive technology.