VerifyMe Inc (OQ:VRME)
Business Focus: Mobile Application Software
| Sector: Technology | Industry: Software |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 801 INTERNATIONAL PARKWAY, FIFTH FLOOR LAKE MARY FL 32746 |
| Tel: | N/A |
| Website: | https://www.verifyme.com/#intro |
| IR: | See website |
| Key People | ||
| Scott N. Greenberg Chairman of the Board | Adam H. Stedham President, Chief Executive Officer, Director | Nancy Meyers Chief Financial Officer, Executive Vice President, Treasurer, Corporate Secretary |
| Curt Harris Kole Executive Vice President, Executive Vice President - Global Sales and Strategy of PeriShip Global, LLC | Fred G. Volk Vice President, Operations of PeriShip Global, LLC | Jack Wang Chief Information Officer of PeriShip Global, LLC |
| Business Overview |
| VerifyMe, Inc. together with its subsidiaries, PeriShip Global, LLC (PeriShip Global) and Trust Codes Global Limited (Trust Codes Global), is a traceability and customer support services provider using specialized software and process technology. Its segments include Precision Logistics and Authentication. The Precision Logistics and Authentication segments provide specialized logistics for time-and-temperature sensitive products, as well as item level traceability, anti-diversion and anti-counterfeit protection, brand protection and enhancement technology solutions. The Precision Logistics segment specializes in predictive analytics for optimizing delivery of time and temperature- sensitive perishable products. The Precision Logistics segment includes bundled services, such as PeriTrack, Service Center, Pre-Transit Service, Post-Delivery, and Weather/Traffic Service. The Authentication segment specializes in traceability to connect brands with consumers through their products. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, VerifyMe Inc revenues increased 29% to $25.3M. Net loss decreased 76% to $3.4M. Revenues reflect Precision Logistics segment increase of 36% to $24.7M. Lower net loss reflects Other Sales and Marketing decrease of 4% to $1.6M (expense), Advertising Costs decrease of 35% to $39K (expense). Basic Earnings per Share excluding Extraordinary Items increased from -$1.70 to -$0.35. |
| Employees: | 50 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $17.29M as of Dec 31, 2023 |
| Annual revenue (TTM): | $25.31M as of Dec 31, 2023 |
| EBITDA (TTM): | -$2.19M as of Dec 31, 2023 |
| Net annual income (TTM): | -$3.39M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$0.52M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 10,176,603 as of Apr 17, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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