VerifyMe ( (VRME) ) has released its Q4 earnings. Here is a breakdown of the information VerifyMe presented to its investors.
VerifyMe, Inc., a company specializing in time and temperature-sensitive logistics and brand protection solutions, has released its financial results for the fourth quarter of 2024. The company operates primarily in the logistics and brand protection industry, offering unique solutions to enhance and protect brand integrity.
In its latest earnings report, VerifyMe highlighted a cash flow from operations of $0.6 million for the fourth quarter of 2024 and $0.9 million for the entire year. The company reported an annual revenue of $24.2 million, a slight decrease from the previous year, alongside an increase in gross profit margin to 36% from 32% in 2023. Despite a net loss of $3.8 million for the year, the company saw a significant improvement in adjusted EBITDA, which more than doubled compared to 2023.
Key financial metrics from the fourth quarter of 2024 include a revenue of $7.7 million and a gross profit of $2.4 million. The company experienced a net loss of $0.5 million, primarily due to the loss of a major customer in its Premium services segment. Additionally, VerifyMe made strategic moves to enhance its financial position, including the divestiture of an unprofitable operation and the full repayment of its senior long-term debt.
Looking forward, VerifyMe’s management is optimistic about the company’s financial health, with $5.7 million in cash and improved liquidity. The company is focusing on maximizing shareholder returns and is in the process of finalizing its strategic plans for 2025, aiming to capitalize on its strengthened financial condition.
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