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PRNewsWire
7 months ago
VerifyMe Reports Fourth Quarter 2024 Financial Results and Improved Liquidity in the First Quarter of 2025
Cash flow provided by operations of $0.6 million in Q4 2024 and $0.9 million in the year ended December 31, 2024 2024 annual revenue of $24.2 million, compared to $25.3 million in 2023; with fourth quarter revenue of $7.7 million, compared to $8.7 million in Q4 2023 (1) 2024 annual gross profit of $8.7 million or 36%, compared to $8.0 million or 32% in 2023; Gross Profit of $2.4 million or 32% in Q4 2024, compared to $2.9 million or 33% in Q4 2023 2024 annual net loss of $3.8 million (including $1.6 million of one-time adjustments), compared to a net loss of $3.4 million in 2023; Net loss of $0.5 million in Q4 2024, compared to net income of less than $0.1 million in Q4 2023(1) 2024 annual adjusted EBITDA(2) of $0.9 million, compared to $0.4 million in 2023; Adjusted EBITDA of $0.5 million in Q4 2024, compared to $1.1 million in Q4 2023(1) Cash of $5.7 million as of February 28, 2025 or $0.46 per share, senior long-term debt of $0.9 million repaid in 2025 LAKE MARY, Fla. , March 6, 2025 /PRNewswire/ -- VerifyMe, Inc. (NASDAQ: VRME) ("VerifyMe," "we," "our," or the "Company") provides brand owners time and temperature sensitive logistics, and brand protection and enhancement solutions, announced today the Company's financial results for its fourth quarter ended December 31, 2024 ("Q4 2024").