VerifyMe reports Q1 2023 revenue of $5.7M, net loss of $1.6M; adjusted EBITDA loss narrows

VerifyMe, Inc.

2023-Q1 EPS reported -$0.17 revenue$5,661,000

Revenue $5.7M, up 3,416% from $0.2M in Q1 2022, driven by April 2022 acquisition of PeriShip Global.
Net loss of $1.6M ($0.17/diluted share) vs. $1.4M ($0.19/shr) in prior year; adjusted loss per share ($0.11).
Adjusted EBITDA loss of ($0.5)M improved from ($1.1)M in Q1 2022.
Cash of $3.1M as of March 31, 2023; management projects meeting 2023 goals despite seasonal lower H1 revenue.

item 2.02 item 9.01

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 Q1 2023 results: revenue $5.7 million, net income Net loss of $1.6 million, EPS ($0.17) per diluted share.

Period: Q1 2023
Revenue: $5.7 million
Net income: Net loss of $1.6 million
EPS: ($0.17) per diluted share
Result: reported results

Exact text from the filing

· Quarterly consolidated revenue of $5.7 million for the three months ended March 31, 2023, an increase of 3,416% compared to $0.2 million for the three months ended March 31, 2022, primarily attributable to the acquisition of the PeriShip Global business in April 2022 · Gross profit of $1.8 million or 31% for the three months ended March 31, 2023, compared to $0.1 million or 76% for the three months ended March 31, 2022 · Net loss of $1.6 million or ($0.17) per diluted share for the three months ended March 31, 2023, compared to a net loss of $1.4 million or ($0.19) per diluted share for the three months ended March 31, 2022

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Source: SEC EDGAR

accession 0001214659-23-006773

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