secwatch.observer — SEC 8-K summary
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Issuer:     VerifyMe, Inc. (VRME)
CIK:        0001104038
Form:       8-K
Filed at:   2023-03-28T23:59:59+00:00
Accession:  0001214659-23-004270
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1104038/000121465923004270/0001214659-23-004270-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1104038/000121465923004270/b3272308k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-004270

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer