VerifyMe Reports Third Quarter 2024 Financial Results
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VerifyMe, Inc. reported its Q3 2024 financial results, showing a slight decrease in revenue and gross profit compared to Q3 2023. The company experienced a net loss of $2.4 million, influenced by $1.8 million in one-time adjustments. Adjusted EBITDA remained stable at $0.2 million.
November 12, 2024 | 1:15 pm
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VerifyMe, Inc. reported a decrease in Q3 2024 revenue and gross profit compared to the previous year. The net loss increased significantly due to one-time adjustments, while adjusted EBITDA remained unchanged.
The decrease in revenue and gross profit, along with a significant increase in net loss due to one-time adjustments, suggests a negative short-term impact on VRME's stock price. However, the stable adjusted EBITDA indicates some operational stability.
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IMPORTANCE 80
RELEVANCE 100