Quarterly ResultMay 15, 2026, 08:02 AM
VerifyMe Q1 Revenue Down 60% to $1.8M; Net Loss ($0.7M)
AI Summary
VerifyMe, Inc. reported its first-quarter 2026 financial results, with revenue decreasing by 60% to $1.8 million compared to $4.5 million in Q1 2025. The company's net loss increased to ($0.7) million from ($0.6) million year-over-year. Despite lower revenues, gross profit margin significantly improved to 54% from 33%, which management attributes to the scalability of its model and process improvements. VerifyMe is actively transitioning customers to new strategic partners and integrating technology for future Premium services.
Key Highlights
- Q1 2026 revenue decreased 60% to $1.8 million from $4.5 million in Q1 2025.
- Gross profit declined 36% to $1.0 million, but gross margin improved to 54% from 33%.
- Net loss increased to ($0.7) million in Q1 2026 from ($0.6) million in Q1 2025.
- Adjusted EBITDA was ($0.1) million, down from $0.0 million in Q1 2025.
- Cash balance was $3.5 million and working capital was $5.1 million as of March 31, 2026.
- Received $2.1 million cash on May 11, 2026, from final loan payment to ZenCredit.
- Fully implemented ProActive services and transitioned customers to a new strategic shipping partner.
- In final stages of technology integration for Premium services launch in Q2 2026.
Price Impact
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