VerifyMe Q1 2023 Earnings Report

VerifyMe EPS Results

• Actual EPS: -$0.11
• Consensus EPS: -$0.04
• Beat/Miss: Missed by -$0.07
• One Year Ago EPS: N/A

VerifyMe Revenue Results

• Actual Revenue: $5.66 million
• Expected Revenue: $6.00 million
• Beat/Miss: Missed by -$340.00 thousand
• YoY Revenue Growth: N/A

VerifyMe Announcement Details

• Quarter: Q1 2023
• Date: 5/11/2023
• Time: N/A

VerifyMe (NASDAQ:VRME), together with its subsidiary, PeriShip Global, LLC, operates as a technology solutions provider that specializes in products to connect brands with consumers and providing brands with end-to-end logistics management for their products. The company operates through two segments, VerifyMe Solutions and PeriShip Global Solutions. The VerifyMe Solutions segment offers technology solutions to connect brands with consumers allowing brand owners to gather business intelligence while engaging directly with their consumers. Its solutions provide brand protection and supply chain functions, such as counterfeit prevention, traceability, consumer engagement solutions, and authentication for labels, packaging, and products, as well as tamper-proof labels. The PeriShip Global Solutions segment offers predictive analytics for optimizing delivery of time and temperature sensitive perishable products. This segment's products include PeriTrack customer dashboard, an integrated web portal tool gives its customers an in-depth look at their shipping activities based on real-time data. It also provides call center, pre-transit, post-delivery, and weather/traffic services. The company has a strategic partnership with INX International Ink Company. The company was formerly known as LaserLock Technologies, Inc. and changed its name to VerifyMe, Inc. in July 2015. VerifyMe, Inc. was incorporated in 1999 and is headquartered in Lake Mary, Florida.