Welcome to our dedicated page for Verifyme news (Ticker: VRME), a resource for investors and traders seeking the latest updates and insights on Verifyme stock.
VerifyMe, Inc. (NASDAQ: VRME) is a traceability and customer support services provider that focuses on specialized logistics for time‑ and temperature‑sensitive products and on authentication and brand protection technologies. News about VerifyMe often centers on developments in its Precision Logistics and Authentication segments, including service updates, relationships with major parcel carriers, and financial performance.
Recent company announcements have highlighted VerifyMe’s role in providing brand owners with time and temperature sensitive logistics, supply chain traceability, authentication, anti‑counterfeiting, and data‑rich brand enhancement services. News releases have described changes in Proactive and Premium service offerings tied to a major parcel carrier, the planned alignment of Proactive services with a new shipping partner, and new agreements that provide access to designated services of another large carrier for specialized logistics management of time‑sensitive and perishable shipments.
Investors following VRME news will also see regular earnings releases and related conference call information. These updates include quarterly revenue, gross profit, net loss, cash balances, and non‑GAAP measures such as EBITDA and Adjusted EBITDA, along with management commentary on operational trends in the Precision Logistics and Authentication segments. SEC‑related news items include Form 8‑K filings that furnish earnings releases, describe material agreements, and report on corporate governance actions such as amendments to bylaws and outcomes of annual stockholder meetings.
Another key news theme is corporate strategy. In early 2026, VerifyMe and Open World Ltd. announced a letter of intent for a strategic merger, with the combined company expected, upon closing, to trade on Nasdaq under a new ticker symbol and to focus on institutional‑grade on‑chain solutions and real‑world asset tokenization. Company communications emphasize that there can be no assurances that a definitive merger agreement will be executed or that the merger will be completed.
By reviewing the VRME news feed, readers can track service changes in the Precision Logistics segment, updates on authentication and brand protection activities, quarterly financial results, Nasdaq listing notices, and progress on the proposed merger with Open World, all based on official press releases and regulatory filings.
VerifyMe reported Q3 2022 revenue of $5.2 million, a significant increase of 1,638% from $0.3 million in Q3 2021, primarily due to the acquisition of PeriShip Global in April 2022. The company incurred a net loss of $0.6 million ($0.06 per share), contrasting with a net income of $7.2 million in the same quarter last year, which included an $8.2 million non-cash gain. Gross profit was $1.9 million (36% margin), down from 62%. Adjusted EBITDA improved to ($0.2 million) from ($0.6 million) year-over-year. Cash balance stood at $3.7 million.
VerifyMe, Inc. (NASDAQ: VRME) will announce its third-quarter financial results for the period ending September 30, 2022, on November 10, 2022. An investor conference call and webcast is scheduled for 11:00 AM ET the same day, where management will discuss financial and operational updates, followed by a Q&A session. VerifyMe, alongside its subsidiary PeriShip Global, specializes in logistics, supply chain monitoring, and brand protection solutions, providing essential data-driven insights for brand owners.
VerifyMe, Inc. (NASDAQ: VRME) announced an agreement to provide brand protection solutions to an international luxury apparel company. The deal includes approximately 3 million labels featuring dynamic QR codes, enabling product authentication throughout the supply chain. This marks VerifyMe's second contract in the apparel industry this year. The company specializes in software-driven logistics and brand protection technologies, offering features like serialization and counterfeit prevention. VerifyMe's CEO expressed excitement about this prestigious contract, highlighting its significance for the company's growth.
VerifyMe, Inc. (NASDAQ: VRME) announced that its subsidiary PeriShip Global has secured a new debt facility with PNC Bank, consisting of a $1 million revolving line of credit and a $2 million four-year term loan. The debt facility aims to improve financial flexibility and replace a $2 million promissory note, which has been fully repaid. The revolving line of credit features no principal repayments until maturity and is secured by PeriShip's assets. This move is expected to support VerifyMe's long-term growth strategy.
VerifyMe, Inc. (NASDAQ: VRME) announced a multi-year extension of its professional services agreement with a strategic partner, extending the contract from March 2024 to March 2026. This partnership focuses on providing proactive customer service and enhances logistics solutions for time and temperature-sensitive deliveries. Executives highlighted the trust placed in VerifyMe's services, which aim to minimize loss and spoilage for customers. The company utilizes advanced technology for supply chain management, brand protection, and consumer engagement.
VerifyMe reported a Q2 2022 revenue of $4.5 million, a 3,527% increase from $0.1 million in Q2 2021, driven by the acquisition of PeriShip. However, the company faced a net loss of $12.6 million (including an $11.2 million impairment), compared to a $1.4 million loss in the prior year. Adjusted EBITDA improved to a loss of $0.3 million. The gross profit margin dropped to 37% from 79% due to lower margins from PeriShip. VerifyMe maintains a cash balance of $3.8 million as of June 30, 2022.
VerifyMe, Inc. (NASDAQ: VRME) has announced its participation in the 15th Annual Barrington Research Virtual Fall Conference on September 8, 2022. The company's leaders, Scott Greenberg and Patrick White, will engage in one-on-one and small group video meetings with investors and analysts. This marks a significant opportunity for VerifyMe to showcase its unique offerings in logistics, authentication, and consumer engagement, using innovative technology solutions. Presentation slides will be available on the company's website prior to the event.
VerifyMe (NASDAQ: VRME) announced it will not extend the SPAC business combination period with G3 VRM Acquisition Corp, which will dissolve due to prevailing market conditions. Instead, the company has initiated a new $1.5 million share repurchase program effective July 1, 2022, aimed at enhancing shareholder value. VerifyMe's subsidiary, PeriShip, reported $3.1 million income before tax for 2021. The company aims to focus on its core business, emphasizing strategic growth post-acquisition of PeriShip.
VerifyMe, Inc. (NASDAQ: VRME) announces the addition of two former FedEx executives, Dave Edmonds and Curt Kole, to the board of directors of its subsidiary, PeriShip Global LLC. Edmonds, with 41 years of experience in logistics, served as Senior VP at FedEx until 2020. Kole brings over 30 years of expertise in Cold Chain logistics, having played a key role at FedEx Custom Critical. Their appointments are expected to enhance PeriShip's business, especially in the pharmaceutical sector, leveraging their extensive industry knowledge and relationships.
VerifyMe, Inc. (NASDAQ: VRME) has introduced VerifyInk™, a covert ink technology designed for continuous inkjet printers. This development, in partnership with INX International, enhances brand protection and consumer engagement capabilities for product labeling and packaging. The technology aims to penetrate the vast global market that utilizes CIJ technology across various industries, including consumer goods and pharmaceuticals. CEO Patrick White emphasized the potential for significant market expansion and operational cost benefits for brands using existing printing infrastructure.