VerifyMe, Inc. VRME
"we," "us," or "our"), is a logistics company that specializes in time and temperature sensitive products,
as well as providing brand protection and enhancement solutions. We operate a Precision Logistics segment which includes the operations
of our subsidiary PeriShip Global LLC ("PeriShip Global")and accounts for nearly all VerifyMe revenue, and an Authentication
segment. Through our Precision Logistics segment, we provide value-added service for sensitive parcel management driven by a proprietary
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.4M | $24.2M | $25.3M | $19.6M | $867.0K | $343.0K | $245.0K | $74.9K | — | $37.1K |
| Cost of revenue | $10.1M | $15.5M | $17.3M | $13.1M | $268.0K | $62.0K | $45.0K | $28.8K | — | $24.4K |
| Gross profit | $6.3M | $8.7M | $8.0M | $6.5M | $599.0K | $281.0K | $200.0K | $46.1K | — | $12.7K |
| R&D | $20.0K | $70.0K | $107.0K | $89.0K | $51.0K | $19.0K | $5.0K | $187.7K | $128.0K | $250.2K |
| SG&A | $3.4M | $3.9M | $4.4M | $8.4M | $4.2M | $2.1M | $1.4M | $1.6M | $1.7M | $1.0M |
| Total operating expenses | $11.4M | $13.1M | $11.4M | $10.2M | $5.4M | $3.8M | $2.6M | $2.6M | $2.8M | $3.7M |
| Operating income | -$5.1M | -$4.4M | -$3.3M | -$3.7M | -$4.8M | -$3.6M | -$2.4M | -$2.6M | -$2.8M | -$3.7M |
| Interest expense | $214.0K | $130.0K | $161.0K | $88.0K | $2.0K | $2.1M | $97.0K | $6.7K | $218.3K | $12.9K |
| Pre-tax income | -$4.9M | -$3.9M | -$3.4M | -$14.4M | -$3.6M | -$5.9M | -$2.5M | -$2.9K | -$3.4K | -$1.6K |
| Income tax | $1.1M | $1.2M | $0 | — | — | — | — | — | — | — |
| Net income | -$4.9M | -$3.8M | -$3.4M | -$14.4M | $3.6M | -$5.9M | -$2.5M | -$2.9M | -$3.4M | -$1.6M |
| EPS, basic | -0.39 | -0.37 | -0.35 | -1.70 | 0.51 | -1.48 | -1.17 | -0.03 | -0.14 | -0.24 |
| EPS, diluted | -0.39 | -0.37 | -0.35 | -1.70 | 0.49 | -1.48 | -1.17 | -0.03 | -0.14 | -0.24 |
| Shares, diluted (wtd. avg.) | $12.6M | $10.4M | $9.8M | $8.5M | $7.4M | $4.0M | $2.1M | $93.9M | $28.2M | $6.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.4M | $2.8M | $3.1M | $3.4M | $9.4M | $7.9M | $253.0K | $1.7M | $693.0K | $22.6K |
| Receivables | $857.0K | $2.6M | $3.0M | $4.4M | $297.0K | $31.0K | $81.0K | $30.4K | — | — |
| Inventory | $37.0K | $39.0K | $38.0K | $81.0K | $52.0K | $54.0K | $30.0K | $42.0K | — | $17.1K |
| Total current assets | $7.7M | $6.4M | $7.7M | $9.5M | $10.0M | $8.2M | $447.0K | $1.8M | $711.7K | $49.2K |
| Property, plant and equipment | $20.0K | $116.0K | $240.0K | $292.0K | $204.0K | $73.0K | — | — | — | — |
| Goodwill | $2.9M | $4.0M | $5.4M | $4.0M | — | — | — | — | — | — |
| Other intangibles | $2.3M | $5.4M | $6.9M | $6.5M | $509.0K | $293.0K | $219.0K | $209.0K | $191.5K | $232.0K |
| Total assets | $13.0M | $16.1M | $20.7M | $20.8M | $21.7M | $8.8M | $943.0K | $2.1M | $903.2K | $281.1K |
| Accounts payable | $745.0K | $3.0M | $3.3M | $3.9M | $341.0K | $383.0K | $422.0K | $411.2K | $923.2K | $867.4K |
| Short-term debt | — | $500.0K | $500.0K | $500.0K | — | — | $600.0K | — | — | — |
| Total current liabilities | $2.0M | $4.2M | $5.1M | $5.4M | $450.0K | $383.0K | $1.0M | $480.3K | $1.1M | $1.6M |
| Long-term debt | — | — | $875.0K | $1.4M | — | — | — | — | — | — |
| Total liabilities | $2.0M | $5.9M | $8.2M | $7.2M | $521.0K | $455.0K | $1.0M | — | — | — |
| Retained earnings | -$90.6M | -$85.7M | -$81.8M | -$78.5M | -$64.1M | -$67.7M | -$61.8M | -$59.3M | -$56.3M | -$41.6M |
| Total equity | $11.0M | $10.2M | $12.5M | $13.6M | $21.2M | $8.3M | -$67.0K | $1.6M | -$192.5K | -$1.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $603.0K | $871.0K | $244.0K | -$2.6M | -$3.3M | -$2.3M | -$1.6M | -$2.4M | -$935.9K | -$1.3M |
| Depreciation and amortisation | — | — | — | — | — | $50.0K | $0 | $0 | $0 | $2.9K |
| Stock-based compensation | — | — | — | $96.0K | $39.0K | — | — | — | — | — |
| Capital expenditure | $18.0K | $7.0K | $27.0K | — | $12.0K | — | — | — | — | — |
| Investing cash flow | -$2.7M | -$575.0K | -$1.2M | -$7.9M | -$2.9M | -$125.0K | -$302.0K | -$108.7K | -$2.6K | — |
| Financing cash flow | $3.7M | -$616.0K | $634.0K | $4.4M | $7.6M | $10.1M | $461.0K | $3.5M | $1.6M | $1.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001214659-26-009911.
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