VerifyMe Reports First Quarter 2025 Financial Results

Core Viewpoint - VerifyMe, Inc. reported a decline in revenue and gross profit for Q1 2025, primarily due to decreased demand from proactive customers and a shift in strategy from a key customer, while maintaining a stable cash position to support shareholder value creation [2][4][10]. Financial Performance - Revenue for Q1 2025 was $4.5 million, down from $5.8 million in Q1 2024, representing a decrease of approximately 22% [4][11]. - Gross profit decreased to $1.5 million in Q1 2025, with a gross margin of 33%, compared to $2.3 million and 39% in Q1 2024 [5][10]. - The net loss remained consistent at ($0.6) million for both Q1 2025 and Q1 2024, with a loss per diluted share of ($0.05) [6][11]. Operational Highlights - Adjusted EBITDA for Q1 2025 was $0.0 million, compared to $0.1 million in Q1 2024, indicating a slight decline in operational performance [7][10]. - The company had a cash balance of $5.7 million and working capital of $6.0 million as of March 31, 2025, providing a solid financial foundation [7][10]. Shareholder Information - As of March 31, 2025, the company had 12,665,892 shares issued and 12,414,772 shares outstanding [8][10].