VerifyMe swings to Q4 profit on 3,705% revenue surge from PeriShip acquisition

VerifyMe, Inc.

Q4 2022 revenue $9.7M vs $0.3M YoY (+3,705%), driven by April 2022 acquisition of PeriShip Global.
Net income $0.1M ($0.01 diluted EPS) compared to net loss $1.0M ($0.14 loss) in Q4 2021.
Adjusted EBITDA $0.7M in Q4 2022 vs -$0.8M in Q4 2021; cash balance $3.4M as of Dec 31, 2022.
Management concluded internal controls over financial reporting effective as of Dec 31, 2022, after prior material weaknesses.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VerifyMe, Inc. reported for its three months and year ended December 31, 2022 results: revenue $9.7 million, net income $0.1 million, EPS $0.01 per diluted share.

Period: for its three months and year ended December 31, 2022
Revenue: $9.7 million
Net income: $0.1 million
EPS: $0.01 per diluted share
Result: reported results

Exact text from the filing

EX-99.1 (EXHIBIT 99.1) --- EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 VerifyMe Reports Positive Net Income in Fourth Quarter 2022 Financial Results · Quarterly revenue of $9.7 million in Q4 2022, compared to $0.3 million in Q4 2021 · Net income of $0.1 million in Q4 2022, compared to Net loss of $1.0 million in Q4 2021 · Adjusted EBITDA (1) of $0.7 million in

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VerifyMe, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-23-004270

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