VerifyMe(US:VRME)2025-05-13 21:48Financial Performance - VerifyMe's Q1 2025 revenue decreased by 22.6% compared to Q1 2024[13] - Precision Logistics proactive services revenue was 12.6% lower in Q1 2025 compared to Q1 2024[13] - Precision Logistics premium services revenue was 47.1% lower in Q1 2025 compared to Q1 2024, due to a single account insourcing[13] - Q1 2025 net loss was ($0.4M), flat year over year[16] - Q1 2025 Adjusted EBITDA was $0[16] - Gross profit was $1.5M with a 33% margin[16] Financial Position - Cash and cash equivalents were $5.7M at the end of Q1 2025[13, 19] - Convertible note outstanding principal was $0.8M at the end of Q1 2025[13] - Q1 2025 Operating Expenses decreased 28.3% compared to Q1 2024[13] Strategic Initiatives - VerifyMe is continuing efforts to expand revenue with directly contracted PeriShip customers[13] - The company is continuing to optimize its direct customer marketing and sales approach[13] - VerifyMe is in continued conversations with both transformative and tuck-in potential acquisitions[13]