Verifyme Inc Stock Price, News & Analysis

VerifyMe (NASDAQ: VRME) announced it will release its third quarter 2024 financial results on November 12, 2024. The company will host an investor conference call and webcast at 11:00 a.m. Eastern Time on the same day. The call will include prepared remarks about financial and operational results, followed by a Q&A session with executive management. Participants can access the webcast through the provided link or join by phone. Presentation slides will be available on VerifyMe's website and archived for 90 days.

VerifyMe (NASDAQ: VRME) reported its Q2 2024 financial results, showing improvements in key metrics. Quarterly revenue increased slightly to $5.4 million from $5.3 million in Q2 2023. Gross profit saw a significant rise of 32%, reaching $2.1 million (39% margin) compared to $1.6 million (30% margin) in Q2 2023. The company's net loss narrowed to ($0.3) million from ($0.9) million year-over-year. Notably, VerifyMe achieved a positive Adjusted EBITDA of $0.2 million, a turnaround from the ($0.4) million loss in Q2 2023.

CEO Adam Stedham highlighted the company's progress towards formalizing an agreement with Amazon and expressed optimism about the regulatory environment's potential to enhance VerifyMe's long-term prospects. The company maintains its projection of positive adjusted EBITDA for the full year 2024.

VerifyMe, Inc. (NASDAQ: VRME), a provider of brand protection and supply chain solutions, has announced it will release its Q2 2024 financial results on August 13, 2024. The company will host an investor conference call and webcast at 11:00 a.m. Eastern Time on the same day. The call will include prepared remarks on financial and operational results, followed by a Q&A session with executive management.

Investors can access the webcast at a provided link or join via phone. The presentation slides will be available on VerifyMe's website. Participants must be on the phone line to ask questions during the call. Pre-registration for the event is available. The webcast and slides will be archived on the company's website for 90 days after the event.

VerifyMe (NASDAQ: VRME) has updated its 2024 outlook following a strategic realignment by a major global carrier customer. This customer will discontinue subcontracting VerifyMe's Premium logistics services for one of its clients in June 2024. The service discontinuation is not due to quality issues but will impact a significant portion of Premium services revenue. Consequently, VerifyMe now anticipates mid-single digit revenue growth for 2024, down from previous double-digit expectations. Despite a reduction in the gross margin percentage, it is still expected to exceed 2023 levels. The company is actively seeking strategies to mitigate the gross margin impact on adjusted EBITDA. CEO Adam Stedham reiterated the company's commitment to its five-year growth plan, focused on initiatives outside the Premium services segment.

VerifyMe (NASDAQ: VRME) announced Q1 2024 financial results, showcasing notable improvements. Revenue slightly increased by 2% to $5.8 million from $5.7 million in Q1 2023. Gross profit surged 49% to $2.3 million, with a margin rise from 27% to 39%. Net loss decreased to $0.6 million from $1.6 million, and Adjusted EBITDA turned positive at $0.1 million, up from a $0.5 million loss last year. The Precision Logistics segment drove most revenue, countering declines in other areas. CEO Adam Stedham expressed confidence in continued growth and margin improvement. VerifyMe ended Q1 2024 with $2.8 million in cash and 10,176,603 shares outstanding.

VerifyMe, Inc. (NASDAQ: VRME) will report its first quarter financial results on May 14, 2024. The company offers brand owners logistics, supply chain traceability, authentication, anti-counterfeiting, and brand enhancement services. An investor conference call and webcast are scheduled for the same day at 11:00 a.m. Eastern Time.