VerifyMe Q3 net loss widens to $2.4M; board approves closing Trust Codes Global segment

VerifyMe, Inc.

2024-Q3 EPS reported -$0.32 revenue$16,546,000

Revenue $5.4M in Q3 2024, down from $5.6M in Q3 2023; net loss ($2.4M) vs ($0.9M); adjusted EBITDA flat at $0.2M.
Board approved closing Trust Codes Global by end of Nov 2024 unless sold; $1.8M impairment recorded in Q3 (goodwill $1.35M, intangible $0.9M, offset by $0.48M gain).
Company discontinuing codes portion of Authentication segment and ending Amazon Transparency pursuit, redirecting resources to Precision Logistics.
Cash expenditures for potential closure estimated below $50,000; no material future cash outlay expected.

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