VerifyMe(US:VRME)2025-11-17 14:00Financial Performance - Revenue for Q3 2025 was $5 million, a decrease of 7% compared to $54 million in Q3 2024[9, 12] - Gross profit in Q3 2025 increased by 6% to 41%, compared to 35% in Q3 2024[9] - Operating costs in Q3 2025, excluding impairment charges, reduced by 34% compared to Q3 2024[9] - Adjusted EBITDA for Q3 2025 was $832k, compared to $174k in Q3 2024[9] - Net loss includes an impairment charge of $39 million[14] Balance Sheet - Cash and cash equivalents were $4007k at the end of Q2 2025, compared to $2823k at the end of 2024[9, 16] - A short-term note receivable of $2 million was added[9] - Intangible assets & Goodwill decreased from $9353k to $5243k[16] Strategic Initiatives - The company expects Q4 2025 and Q1 2026 revenue to decline compared to the prior year due to customer transition[9] - The company is transitioning customers to a new Proactive shipping partner[9] - The company is completing integrations with e-commerce shopping carts[9]