VERIFYME INC C/WTS 22/06/2025 (TO PUR COM) | 10-Q: FY2025 Q1 Revenue: USD 4.455 M

LB filings
2025.05.13 20:33
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Revenue: As of FY2025 Q1, the actual value is USD 4.455 M.

EPS: As of FY2025 Q1, the actual value is USD -0.05.

Precision Logistics Segment

  • Revenue: $4,429 thousand for the three months ended March 31, 2025, compared to $5,614 thousand for the same period in 2024.
  • Cost of Revenue: $2,959 thousand for the three months ended March 31, 2025, compared to $3,486 thousand for the same period in 2024.
  • Gross Profit: $1,470 thousand for the three months ended March 31, 2025, compared to $2,129 thousand for the same period in 2024.
  • Operating Expenses: Management and technology expenses were $596 thousand, research and development expenses were $0, and sales and marketing expenses were $268 thousand for the three months ended March 31, 2025.
  • Segment Income: $178 thousand for the three months ended March 31, 2025, compared to $830 thousand for the same period in 2024.

Authentication Segment

  • Revenue: $26 thousand for the three months ended March 31, 2025, compared to $145 thousand for the same period in 2024.
  • Cost of Revenue: $6 thousand for the three months ended March 31, 2025, compared to $13 thousand for the same period in 2024.
  • Gross Profit: $20 thousand for the three months ended March 31, 2025, compared to $131 thousand for the same period in 2024.
  • Operating Expenses: Management and technology expenses were $28 thousand, research and development expenses were $5 thousand, and sales and marketing expenses were $2 thousand for the three months ended March 31, 2025.
  • Segment Income: $85 thousand for the three months ended March 31, 2025, compared to a loss of $356 thousand for the same period in 2024.

Consolidated Financial Metrics

  • Net Revenue: $4,455 thousand for the three months ended March 31, 2025, compared to $5,759 thousand for the same period in 2024.
  • Gross Profit: $1,490 thousand for the three months ended March 31, 2025, compared to $2,260 thousand for the same period in 2024.
  • Net Loss: $571 thousand for the three months ended March 31, 2025, compared to $553 thousand for the same period in 2024.

Cash Flow

  • Net Cash Used in Operating Activities: -$404 thousand for the three months ended March 31, 2025, compared to -$60 thousand for the same period in 2024.
  • Net Cash Used in Investing Activities: -$156 thousand for the three months ended March 31, 2025, compared to -$110 thousand for the same period in 2024.
  • Net Cash Provided by Financing Activities: $3,444 thousand for the three months ended March 31, 2025, compared to -$106 thousand for the same period in 2024.

Future Outlook and Strategy

  • Core Business Focus: The company plans to focus on small and medium-sized agriculture, food, and beverage companies, as well as the pharmaceutical and healthcare industries, which represent significant opportunities due to enhanced tracking and customer service associated with distribution of these products.
  • Non-Core Business: The company divested its Trust Codes Global business in December 2024, which was part of the Authentication segment.
Source: LB filings The copyright of this article belongs to the original author/organization.
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