VerifyMe, Inc. (NASDAQ: VRME) is a technology solutions provider specializing in authentication and anti-counterfeiting technologies. The company offers services like VerifyMe Engage, Authenticate, Track & Trace, and Online, which help brands gather business intelligence and tackle counterfeit issues. VerifyMe operates in a competitive landscape, providing essential solutions for brand protection and enhancement.
The consensus price target for VerifyMe has seen a decline over the past year, dropping from $1.30 to $1.12. This trend suggests a more conservative outlook from analysts. Despite this, analyst Michael Petusky from Barrington Research has set a higher price target of $1.5, indicating some optimism about the company's future prospects.
VerifyMe's financial performance in recent quarters shows mixed results. In Q1 2025, the company reported a revenue of $4.5 million, down from $5.8 million in Q1 2024. The gross profit also decreased to $1.5 million, representing 33% of revenue, compared to 39% in the previous year. Despite these challenges, the net loss remained consistent at $0.6 million.
In Q4 2024, VerifyMe's revenue was $7.7 million, a decrease from $8.7 million in the same period the previous year. The gross profit for the quarter was $2.4 million, or 32% of revenue. The company reported an annual net loss of $3.8 million in 2024, which includes $1.6 million in one-time adjustments. Despite these setbacks, the annual adjusted EBITDA improved to $900,000 from $400,000 in 2023.
VerifyMe continues to focus on providing brand owners with logistics, supply chain traceability, and anti-counterfeiting solutions. The company holds $5.7 million in cash, equating to $0.46 per share, and has repaid $900,000 in senior long-term debt in 2025. As the company navigates market challenges, investors should monitor its earnings reports and strategic developments.
