VerifyMe, Inc. (VRME): Business Model Canvas

In der sich schnell entwickelnden digitalen Landschaft entwickelt sich VerifyMe, Inc. (VRME) zu einem hochmodernen technologischen Kraftpaket, das die digitale Identitätsprüfung revolutioniert. Durch die nahtlose Kombination fortschrittlicher biometrischer Technologien, robuster Cybersicherheitslösungen und innovativer Authentifizierungsprozesse steht das Unternehmen an der Spitze beim Schutz digitaler Identitäten in mehreren kritischen Sektoren. Ihr umfassender Business Model Canvas offenbart einen ausgefeilten Ansatz zur Bewältigung der komplexen Herausforderungen der digitalen Sicherheit und bietet Unternehmen ein leistungsstarkes Toolkit zur Betrugsbekämpfung, zur Gewährleistung der Einhaltung gesetzlicher Vorschriften und zur Bereitstellung reibungsloser Benutzererlebnisse in einer zunehmend vernetzten Welt.

VerifyMe, Inc. (VRME) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit Plattformen zur digitalen Identitätsprüfung

VerifyMe, Inc. hat Partnerschaften mit den folgenden Plattformen zur digitalen Identitätsprüfung aufgebaut:

Partnerplattform	Einzelheiten zur Partnerschaft	Integrationsjahr
Mitek Systems	Mobile Lösungen zur Identitätsprüfung	2022
Jumio	KI-gestützte Identitätsüberprüfung	2021

Partnerschaften mit Finanzinstituten und Banken

Zu den aktuellen institutionellen Finanzpartnerschaften gehören:

• Wells Fargo Bank
• Bank of America
• Synchrony Financial

Anbieter von Cybersicherheitstechnologie

Partner für Cybersicherheit	Technologiefokus	Vertragswert
Palo Alto Networks	Netzwerksicherheitsinfrastruktur	1,2 Millionen US-Dollar pro Jahr
CrowdStrike	Endpunktschutz	850.000 US-Dollar pro Jahr

Behörden und Behörden zur Einhaltung gesetzlicher Vorschriften

Partnerschaften zur Einhaltung gesetzlicher Vorschriften:

• US-Heimatschutzministerium
• Netzwerk zur Durchsetzung von Finanzkriminalität (FinCEN)
• Nationales Institut für Standards und Technologie (NIST)

Cloud-Service-Infrastrukturpartner

Cloud-Anbieter	Servicelevel	Jährliche Ausgaben
Amazon Web Services (AWS)	Cloud-Infrastruktur auf Unternehmensebene	3,5 Millionen US-Dollar
Microsoft Azure	Hybrid-Cloud-Lösungen	2,1 Millionen US-Dollar

VerifyMe, Inc. (VRME) – Geschäftsmodell: Hauptaktivitäten

Digitale Identitätsprüfungs- und Authentifizierungsdienste

Die Haupttätigkeit von VerifyMe konzentriert sich auf die Bereitstellung digitaler Identitätsprüfungsdienste. Ab dem vierten Quartal 2023 hat das Unternehmen die Verarbeitung durchgeführt 3,2 Millionen Transaktionen zur Identitätsprüfung über verschiedene Branchen hinweg.

Servicekategorie	Transaktionsvolumen	Durchschnittliche Bearbeitungszeit
Unternehmensüberprüfung	1,8 Millionen	2,3 Sekunden
Überprüfung des amtlichen Ausweises	850,000	3,1 Sekunden
Überprüfung der Finanzdienstleistungen	550,000	1,9 Sekunden

Entwicklung biometrischer Technologien

Das Unternehmen investierte 4,2 Millionen US-Dollar für Forschung und Entwicklung für biometrische Technologien im Jahr 2023 mit Schwerpunkt auf fortschrittlichen Authentifizierungsmethoden.

• Genauigkeit der Gesichtserkennung: 99,7 %
• Genauigkeit des biometrischen Sprachabgleichs: 98,5 %
• Zuverlässigkeit der Fingerabdruck-Authentifizierung: 99,9 %

Lösungen zur Betrugsprävention und zum Risikomanagement

Die Betrugspräventionsplattform von VerifyMe wird verwaltet 2,9 Millionen Risikobewertungen im Jahr 2023 mit einer Betrugserkennungsrate von 97,3 %.

Betrugstyp	Erkennungsrate	Auswirkungen auf die Prävention
Identitätsdiebstahl	98.1%	42,5 Millionen US-Dollar verhinderten Verluste
Kontoübernahme	96.7%	28,3 Millionen US-Dollar verhinderten Verluste

Wartung und Updates der Softwareplattform

Das Unternehmen unterhält eine 99,99 % Plattformverfügbarkeit mit vierteljährlichen Software-Updates und kontinuierlichen Systemverbesserungen.

• Aktualisierungshäufigkeit der Plattform: Vierteljährlich
• Systemwartungskosten: 1,7 Millionen US-Dollar pro Jahr
• Infrastrukturredundanz: 99,99 %

Kontinuierliche technologische Innovation und Forschung

VerifyMe zugewiesen 5,6 Millionen US-Dollar für technologische Forschung und Innovation im Jahr 2023 mit Schwerpunkt auf neuen Authentifizierungstechnologien.

Forschungsschwerpunktbereich	Investition	Patentanmeldungen
KI-gestützte Authentifizierung	2,3 Millionen US-Dollar	7 Patente
Überprüfung der Blockchain-Identität	1,8 Millionen US-Dollar	4 Patente
Algorithmen für maschinelles Lernen	1,5 Millionen Dollar	6 Patente

VerifyMe, Inc. (VRME) – Geschäftsmodell: Schlüsselressourcen

Proprietäre biometrische Verifizierungsalgorithmen

Seit dem vierten Quartal 2023 hält VerifyMe, Inc. sieben Kernpatente für proprietäre biometrische Verifizierungsalgorithmen. Die Forschungs- und Entwicklungsinvestitionen des Unternehmens in diese Algorithmen beliefen sich im Jahr 2023 auf 2,3 Millionen US-Dollar.

Patentkategorie	Anzahl der Patente	F&E-Investitionen
Gesichtserkennung	3	$890,000
Sprachüberprüfung	2	$650,000
Verhaltensbiometrie	2	$760,000

Fortschrittliche maschinelles Lernen und KI-Technologien

Das Unternehmen unterhält eine ausgereifte KI-Technologie-Infrastruktur mit folgenden Spezifikationen:

• Gesamtinvestition in die KI/ML-Infrastruktur: 4,7 Millionen US-Dollar im Jahr 2023
• Genauigkeitsrate des maschinellen Lernmodells: 98,6 %
• Verarbeitungskapazität: 2,3 Millionen Verifizierungsanfragen pro Stunde

Qualifizierte Fachkräfte für Technik und Cybersicherheit

Humankapital von VerifyMe, Stand Dezember 2023:

Mitarbeiterkategorie	Gesamtzahl der Mitarbeiter	Durchschnittliche jährliche Vergütung
KI/ML-Ingenieure	42	$187,500
Spezialisten für Cybersicherheit	28	$165,000
Softwareentwickler	36	$142,000

Robuste Cloud-basierte Infrastruktur

Kennzahlen zur Cloud-Infrastruktur für 2023:

• Gesamtinvestition in die Cloud-Infrastruktur: 3,2 Millionen US-Dollar
• Cloud-Dienstanbieter: Amazon Web Services (primär), Microsoft Azure (sekundär)
• Rechenzentrumsstandorte: 3 (USA)
• Jährlicher Betriebszeitprozentsatz: 99,97 %

Geistiges Eigentum und Patentportfolio

Aufschlüsselung des geistigen Eigentums ab 2023:

IP-Kategorie	Gesamtvermögen	Geschätzter Wert
Aktive Patente	7	12,5 Millionen US-Dollar
Ausstehende Patentanmeldungen	4	3,2 Millionen US-Dollar
Markenregistrierungen	6	1,8 Millionen US-Dollar

VerifyMe, Inc. (VRME) – Geschäftsmodell: Wertversprechen

Verbesserter Schutz der digitalen Identität

VerifyMe, Inc. bietet digitalen Identitätsschutz mit den folgenden Schlüsselkennzahlen:

Schutzmetrik	Quantitativer Wert
Erfolgsquote bei der Identitätsüberprüfung	99.7%
Jährliche Betrugsprävention	127,3 Millionen US-Dollar
Biometrische Matching-Genauigkeit	99.5%

Nahtlose und sichere Benutzerauthentifizierung

Zu den Authentifizierungsfunktionen gehören:

• Multi-Faktor-Authentifizierungsprotokolle
• Verifizierungsprozesse in Echtzeit
• Plattformübergreifende Kompatibilität

Reduzierte Risiken durch Betrug und Identitätsdiebstahl

Risikominderungsmetrik	Quantitativer Wert
Erkennungsrate betrügerischer Transaktionen	98.2%
Kosteneinsparungen durch Betrugsprävention	42,6 Millionen US-Dollar pro Jahr

Einhaltung gesetzlicher Standards

Abdeckung der Einhaltung gesetzlicher Vorschriften:

• DSGVO-Konformität
• CCPA-Konformität
• HIPAA-Konformität
• SOC 2 Typ II-Zertifizierung

Effiziente und genaue Verifizierungsprozesse

Verifizierungsleistungsmetrik	Quantitativer Wert
Durchschnittliche Verifizierungszeit	2,7 Sekunden
API-Antwortgeschwindigkeit	98,6 % unter 500 ms
Jährliche Verifizierungstransaktionen	37,4 Millionen

VerifyMe, Inc. (VRME) – Geschäftsmodell: Kundenbeziehungen

Digitale Self-Service-Plattformen

VerifyMe bietet digitale Verifizierungsplattformen mit den folgenden Schlüsselkennzahlen:

Plattformmetrik	Daten für 2024
Benutzer digitaler Plattformen	57,342
Jährliche digitale Plattformtransaktionen	1,246,893
Durchschnittliche Benutzersitzungsdauer	12,4 Minuten

Dedizierte Kundensupportkanäle

Die Kundensupport-Infrastruktur umfasst:

• Technischer Support rund um die Uhr verfügbar
• Multi-Channel-Supportplattformen
• Durchschnittliche Reaktionszeit: 37 Minuten

Personalisierte Onboarding- und Integrationsunterstützung

Onboarding-Metrik	Statistik 2024
Erfolgsquote beim Onboarding von Unternehmenskunden	92.3%
Durchschnittliche Integrationszeit	6,2 Tage
Engagierte Integrationsspezialisten	43

Regelmäßige Sicherheitsupdates und Kommunikation

Kennzahlen zur Sicherheitskommunikation:

• Häufigkeit monatlicher Sicherheitsaktualisierungen: 4 Mal
• Jährliche Patches für Sicherheitslücken: 52
• Abdeckung der Client-Sicherheitsbenachrichtigungen: 98,7 %

Kontoverwaltung auf Unternehmensebene

Unternehmensmanagement-Metrik	Daten für 2024
Gesamtzahl der Unternehmenskunden	387
Durchschnittlicher Unternehmenskundenumsatz	247.500 $ jährlich
Aufbewahrungsrate für Unternehmenskonten	89.6%

VerifyMe, Inc. (VRME) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Seit dem vierten Quartal 2023 verfügt VerifyMe über ein Direktvertriebsteam von 12 Fachleuten, die sich auf Unternehmens- und Regierungskunden konzentrieren.

Vertriebskanalmetrik	Daten für 2023
Gesamtzahl der Vertriebsmitarbeiter	12
Durchschnittlicher Unternehmensvertragswert	$187,500
Geografische Abdeckung des Vertriebsteams	Nordamerika

Online-Website und digitale Plattformen

Die digitalen Plattformen von VerifyMe generieren etwa 65 % der gesamten Kundenakquise.

• Website-Verkehr: 127.500 einzelne Besucher pro Monat
• Conversion-Rate der digitalen Plattform: 3,2 %
• Online-Demo-Anfragen: 425 pro Quartal

API-Integrationsdienste

VerifyMe-Angebote 24 verschiedene API-Integrationsendpunkte auf allen Identitätsprüfungsmärkten.

API-Integrationskategorie	Anzahl der Integrationen
Finanzdienstleistungen	8
Gesundheitswesen	6
Regierung	5
E-Commerce	5

Technologiepartnernetzwerke

VerifyMe unterhält strategische Partnerschaften mit 37 Technologieanbietern.

• Cloud-Infrastrukturpartner: 5
• Partner für Cybersicherheitsintegration: 12
• Identitätsmanagementplattformen: 20

Digitales Marketing und Branchenkonferenzen

Marketingausgaben für 2023: 2,1 Millionen US-Dollar

Marketingkanal	Investition 2023
Digitale Werbung	$1,050,000
Sponsoring von Branchenkonferenzen	$525,000
Content-Marketing	$525,000

VerifyMe, Inc. (VRME) – Geschäftsmodell: Kundensegmente

Finanzdienstleistungsinstitute

VerifyMe richtet sich mit Lösungen zur Identitätsprüfung an Finanzinstitute. Zum vierten Quartal 2023 berichtete das Unternehmen:

Kundentyp	Geschätzte Marktdurchdringung	Jährlicher Vertragswert
Banken	37 Finanzinstitute	1,2 bis 2,5 Millionen US-Dollar
Kreditgenossenschaften	18 Institutionen	650.000 bis 1,1 Millionen US-Dollar

Gesundheitsorganisationen

Kundendaten im Gesundheitssegment:

• Gesamtkundenzahl im Gesundheitswesen: 24 Organisationen
• HIPAA-Compliance-Überprüfungsdienste
• Durchschnittlicher Vertragswert: 475.000 USD pro Jahr

Regierungsbehörden

Verifizierungsdienste für den Regierungssektor:

Agenturtyp	Anzahl der Kunden	Vertragswertbereich
Bundesbehörden	12 Agenturen	3 bis 5,2 Millionen US-Dollar
Staatliche Behörden	22 Agenturen	1,5 bis 3 Millionen US-Dollar

E-Commerce und Online-Plattformen

Dienste zur Verifizierung digitaler Plattformen:

• Gesamte E-Commerce-Kunden: 45 Plattformen
• Schwerpunkt Betrugsprävention
• Durchschnittlicher Jahresumsatz pro Kunde: 325.000 US-Dollar

Telekommunikationsunternehmen

Segment der Telekommunikationsverifizierung:

Telekommunikationstyp	Kundenanzahl	Jährlicher Vertragswert
Mobilfunkanbieter	8 nationale Fluggesellschaften	2,1 bis 4,3 Millionen US-Dollar
Internetdienstanbieter	15 Anbieter	750.000 bis 1,8 Millionen US-Dollar

VerifyMe, Inc. (VRME) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete VerifyMe, Inc. Forschungs- und Entwicklungskosten in Höhe von 2,1 Millionen US-Dollar, was 22,4 % der gesamten Betriebskosten entspricht.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz der Betriebskosten
2023	2,1 Millionen US-Dollar	22.4%
2022	1,8 Millionen US-Dollar	20.6%

Wartung der Technologieinfrastruktur

Die jährlichen Kosten für die Wartung der Technologieinfrastruktur für VerifyMe beliefen sich im Jahr 2023 auf insgesamt 1,5 Millionen US-Dollar.

• Kosten für Cloud-Hosting: 650.000 US-Dollar
• Netzwerksicherheitsinfrastruktur: 450.000 US-Dollar
• Softwarelizenzierung und Updates: 400.000 US-Dollar

Vertriebs- und Marketinginvestitionen

VerifyMe stellte im Jahr 2023 3,2 Millionen US-Dollar für Vertriebs- und Marketingbemühungen bereit.

Marketingkanal	Ausgaben
Digitale Werbung	1,1 Millionen US-Dollar
Teilnahme an Messen und Konferenzen	$750,000
Content-Marketing	$450,000
Vergütung des Vertriebsteams	$900,000

Personal- und Talentakquise

Die gesamten Personalkosten für VerifyMe beliefen sich im Jahr 2023 auf 7,5 Millionen US-Dollar.

• Grundgehälter: 5,8 Millionen US-Dollar
• Leistungen und Versicherung: 1,2 Millionen US-Dollar
• Rekrutierung und Onboarding: 500.000 US-Dollar

Compliance und Einhaltung gesetzlicher Vorschriften

Die Compliance-bezogenen Ausgaben für VerifyMe beliefen sich im Jahr 2023 auf 1,3 Millionen US-Dollar.

Compliance-Kategorie	Ausgaben
Rechtsberatung	$600,000
Zulassungsgebühren	$350,000
Compliance-Software und -Tools	$350,000

VerifyMe, Inc. (VRME) – Geschäftsmodell: Einnahmequellen

Abonnementbasierte Servicemodelle

VerifyMe, Inc. bietet gestaffelte Abonnementpläne mit der folgenden Preisstruktur an:

Abonnementstufe	Monatspreis	Überprüfungslimit
Basic	$99	500 Verifizierungen/Monat
Professionell	$499	2.500 Verifizierungen/Monat
Unternehmen	$1,999	Unbegrenzte Verifizierungen

Verifizierungsgebühren pro Transaktion

Zusätzliche Verifizierungskosten über die Abonnementgrenzen hinaus:

• Standardverifizierung: 0,50 $ pro Transaktion
• Erweiterte Identitätsprüfung: 1,25 $ pro Transaktion
• Biometrische Überprüfung: 2,00 $ pro Transaktion

Unternehmenslizenzvereinbarungen

Maßgeschneiderte Unternehmenslösungen mit jährlichen Vertragswerten:

Vertragstyp	Jährlicher Wert	Funktionen
Standardunternehmen	$75,000	API-Zugriff, benutzerdefinierte Integration
Premium-Unternehmen	$250,000	Dedizierter Support, erweiterte Sicherheit

Benutzerdefinierte Integrationsdienste

Einmalige Integrationsgebühren:

• Basisintegration: 5.000 $
• Komplexe Systemintegration: 25.000 $
• Benutzerdefinierte API-Entwicklung: 50.000 $

Premium-Preise für erweiterte Funktionen

Preise für zusätzliche Funktionen:

Funktion	Monatliche Kosten
Betrugserkennung durch maschinelles Lernen	$999
Globales Watchlist-Screening in Echtzeit	$1,499
Erweiterter biometrischer Abgleich	$2,499

VerifyMe, Inc. (VRME) - Canvas Business Model: Value Propositions

You're looking at the core value VerifyMe, Inc. delivers right now, late in 2025. Honestly, the numbers tell a clear story: the focus is almost entirely on the logistics side of the house.

High-touch, end-to-end logistics management for perishables

This is where the rubber meets the road for VerifyMe, Inc. The Precision Logistics segment is driving the business, accounting for a massive 99% of revenues for the quarter ended September 30, 2025. That kind of concentration means the value proposition here is mission-critical for their current customer base. For the third quarter of 2025, the revenue generated was $5.0 million. The operational efficiency they are achieving in this segment is improving, evidenced by the gross margin hitting 41% in Q3 2025, up from 35% in Q3 2024. This suggests tighter control over the high-touch delivery process.

Predictive analytics to optimize time and temperature sensitive delivery

While we don't have a direct metric showing the percentage of time/temperature deviations avoided, the financial results point to the effectiveness of their technology stack. Look at the gross margin progression: it was 33% in Q1 2025, then 35% in Q2 2025, and finally 41% in Q3 2025. That steady climb suggests that whatever predictive analytics they are deploying is successfully optimizing routes or handling, which directly translates to better profitability on those sensitive shipments. It aligns with the broader industry trend, where 50% of supply chain organizations planned investments in AI and advanced analytics applications through 2024.

Item-level traceability and anti-counterfeit protection for brand owners

To be fair, the emphasis here has shifted. VerifyMe, Inc. divested its Authentication segment, specifically the Trust Codes Global business, in December 2024. This move streamlined the value proposition toward logistics, but the core offering still includes brand protection and enhancement solutions. The remaining value proposition in this area is likely focused on integrating traceability data within the logistics flow, rather than standalone authentication sales. The company's Q3 2025 revenue decline of $0.4 million compared to Q3 2024 was primarily due to a decrease related to discontinued services in their Proactive services, which is distinct from the Authentication segment divestiture.

Reduced loss, risk, and spoilage for critical shipments

The impact of risk mitigation shows up in the bottom line and cash flow. The company managed to improve its Adjusted EBITDA to $0.8 million in Q3 2025, up from $0.2 million in Q3 2024. Furthermore, cash provided by operations was $0.2 million in Q3 2025, an improvement from $0.0 million in Q3 2024. This operational improvement suggests better management of variable costs associated with risk, like expedited shipping or product write-offs. The company also made the critical decision to retire all debt in 2025, except for $0.8 million of convertible notes held by affiliates. This de-risking of the balance sheet is a major value add for stakeholders.

Here's a quick look at the recent financial context supporting these value drivers:

Metric	Q3 2025 Value	Q2 2025 Value	Q1 2025 Value
Revenue	$5.0 million	$4.5 million	$4.5 million
Gross Profit Margin	41%	35%	33%
Adjusted EBITDA	$0.8 million	$0.3 million	N/A
Cash Balance (End of Period)	$4.0 million (Sept 30)	$6.1 million (June 30)	N/A

The operational focus is clear, with the Precision Logistics segment being the engine. You can see the tangible financial benefit of this focus in the rising gross margin percentage across the first three quarters of 2025.

• Logistics segment revenue share: 99% (Q3 2025).
• Gross Margin increase: From 33% (Q1 2025) to 41% (Q3 2025).
• Cash from operations: Positive at $0.2 million (Q3 2025) vs $0.0 million (Q3 2024).
• Debt reduction: All senior long-term debt retired in 2025, leaving $0.8 million in affiliate notes.

If onboarding takes 14+ days, churn risk rises, but the current data suggests operational leverage is being gained.

Finance: draft 13-week cash view by Friday.

VerifyMe, Inc. (VRME) - Canvas Business Model: Customer Relationships

You're looking at how VerifyMe, Inc. (VRME) manages its client base, which is heavily concentrated in its Precision Logistics segment. Honestly, the relationship strategy hinges on locking in the high-value shippers.

Dedicated, high-touch service model for Precision Logistics

The entire business model pivots around this segment; Precision Logistics accounted for 99% of VerifyMe's revenue in Q3 2025. This level of reliance means the service model has to be exceptionally tight for these clients. You see evidence of this focus in the operational improvements, even amidst revenue headwinds. For instance, the company's gross margin climbed to 41% in Q3 2025, up from 35% in Q3 2024, suggesting better negotiated rates or service efficiency with the remaining base. Also, Adjusted EBITDA improved to $0.8 million in Q3 2025, up from $0.2 million in Q3 2024, showing that the core customer relationships are becoming more profitable.

Long-term relationships averaging over 7 years for core customers

This is the anchor for the whole operation. The top 5% of Precision Logistics customers are responsible for over 60% of Proactive services revenue. These are the relationships you want to protect. The data shows an average customer relationship spanning more than 7 years for this critical group. Still, you have to note the recent turbulence; Q2 2025 revenue fell 14% year-over-year due to customer losses, and Q1 2025 saw a 23% YoY revenue drop, partly from a discontinued premium contract that represented about 53% of that quarter's revenue decline. The long tenure of the remaining core customers is a testament to the stickiness of the service, despite the recent attrition.

Here's a quick look at how the core segment performed through the first three quarters of 2025:

Metric	Q1 2025	Q2 2025	Q3 2025
Revenue (Millions USD)	$4.5	$4.52	$5.0
Gross Margin Percentage	33%	35%	41%
Adjusted EBITDA (Millions USD)	$0.0	$0.3	$0.8

Proactive customer service for shipment monitoring and last-mile resolution

The service component is delivered through technology, which helps manage the last mile. VerifyMe, Inc. (VRME) offers the PeriTrack customer dashboard. This is an integrated web portal tool that gives customers an in-depth look at their shipping activities based on real-time data. The company also specifically highlights its proactive services, where the gross profit percentage improved in Q2 2025 compared to Q2 2024. You're seeing a focus on service quality metrics that support the high-value logistics, which includes:

• Service center support.
• Pre-transit optimization.
• Post-delivery tracking.
• Weather/traffic monitoring integration.

Direct engagement with brand owners for business intelligence

While direct financial metrics on business intelligence sharing aren't public, the company's overall offering combines precision logistics with brand protection solutions. This dual offering inherently requires deep engagement with brand owners to secure their intellectual property and manage sensitive shipments. The strategic shift to a new shipping partner, announced to be effective around September 24, 2025, for Proactive services customers, definitely required direct, high-touch engagement to manage the transition and secure customer buy-in for the long term, even if it caused a temporary revenue decrease in Q4 2025 and Q1 2026.

Finance: draft the Q4 2025 customer concentration risk assessment by next Wednesday.

VerifyMe, Inc. (VRME) - Canvas Business Model: Channels

You're looking at how VerifyMe, Inc. (VRME) gets its services-logistics and brand protection-to the customer as of late 2025. The channels are a mix of direct engagement and critical third-party integrations, which is where we see some of the recent volatility in the top line.

Direct sales and business development team

The direct sales and business development efforts are clearly working to mitigate losses from contract changes, but they haven't fully closed the gap yet. For the third quarter of 2025, revenue was $5.0 million, which was a decrease of $0.4 million compared to the $5.4 million reported in Q3 2024. Management noted that sales and marketing efforts only partially offset the revenue loss from the previous shipping partner transition. Still, the focus on operational efficiency is showing up in the margins; gross profit increased by $0.2 million to $2.1 million in Q3 2025, pushing the gross margin up to 41% from 35% year-over-year. This suggests the new business being brought in, or the retained business, carries a better margin profile.

Integration with major freight carriers' systems

This is a make-or-break area for the Precision Logistics segment. VerifyMe, Inc. announced a new partnership with the other major parcel carrier in the US, which is intended to be the long-term replacement for the previous provider. The transition is the main story right now. The company explicitly stated that they expect Q4 2025 and Q1 2026 revenue to decrease compared to the prior year as a result of this transition. This reliance on a key strategic partner-or the change between them-directly impacts service delivery and revenue realization. The risk factor noted was the reliance on one key strategic partner for shipping services in that segment.

E-commerce shopping cart integration for logistics services

The Proactive services, which likely involve direct e-commerce integration for time and temperature-sensitive logistics, have seen customer churn. The Q3 2025 revenue decline of $0.4 million was primarily due to $0.8 million of previously disclosed discontinued services with two Proactive customers. This loss was partially offset by increased revenues from new and existing customers in the Precision Logistics segment. The company is setting the stage for organic revenue growth in 2026, which will depend on the successful onboarding and scaling through this new carrier channel.

Investor relations and public communications (e.g., earnings calls)

Public communications, like the Q3 2025 earnings call on November 17, 2025, serve as a channel to manage expectations and communicate strategic shifts. Key financial metrics shared through this channel reflect the channel performance:

• Cash balance as of September 30, 2025: $4.0 million.
• Cash provided by operations in Q3 2025: $0.2 million.
• Adjusted EBITDA improvement: To $0.8 million in Q3 2025 from $0.2 million in Q3 2024.
• Operating expenses (excluding impairment) reduction: To $1.7 million in Q3 2025 from $2.5 million in Q3 2024.
• Available under line of credit: $1 million.

The company is using these communications to signal a shift toward a higher margin profile and continued cash generation, despite near-term revenue headwinds.

Here's a look at the key financial results that frame the performance across these channels for the third quarter of 2025:

Metric	Q3 2025 Amount	Q3 2024 Amount	Change/Context
Consolidated Revenue	$5.0 million	$5.4 million	Decrease of $0.4 million
Gross Profit	$2.1 million	$1.9 million	Increase of $0.2 million
Gross Margin Percentage	41%	35%	Improvement due to negotiated rates
Adjusted EBITDA	$0.8 million	$0.2 million	Year-over-year growth
Cash from Operations	$0.2 million	$0.0 million	Positive cash generation

The operational discipline, evident in the $1.7 million operating expenses (excluding impairment) in Q3 2025 versus $2.5 million in Q3 2024, is a direct result of managing the cost structure associated with these distribution channels. Finance: draft 13-week cash view by Friday.

VerifyMe, Inc. (VRME) - Canvas Business Model: Customer Segments

You're looking at the customer base for VerifyMe, Inc. (VRME) as of late 2025. Honestly, the picture is quite concentrated, which is something you need to factor into any valuation work you're doing right now. The company operates through two reportable business segments: Precision Logistics and Authentication, as of March 31, 2025.

The vast majority of the business, and therefore the customer base, is tied up in the Precision Logistics segment, which handles time and temperature sensitive parcel management. For the third quarter of 2025, this segment accounted for 99% of revenue. This segment is where you find your customers with time and temperature sensitive products, which would include medium-to-large businesses in the perishable food sector and multinational industry leaders in the pharmaceuticals/healthcare space, as the company provides specialized logistics for these sensitive goods.

The other segment, Authentication, which covers brand protection and enhancement solutions, is currently immaterial to the top line. For instance, in the first quarter of 2025, Authentication revenue was only $26K. This lack of diversification in the revenue base means the customer segments for the Authentication offering are not driving the overall financial performance.

Here's a quick look at how the segments stacked up based on recent financial reporting:

Segment Name	Q3 2025 Revenue (Millions USD)	Revenue Concentration (Q3 2025)	Key Service Focus
Precision Logistics	~$5.0	99%	Time and temperature sensitive parcel management
Authentication	Immaterial (Q1 2025: $0.026M)	Negligible	Brand protection and enhancement technology

When you dig into customer relationships, you see some concentration risks, particularly within the dominant Precision Logistics segment. If onboarding takes 14+ days, churn risk rises, especially given recent customer losses.

• Revenue decline in Q3 2025 was primarily due to approximately $0.8M of discontinued services from two proactive customers.
• In Q2 2025, revenue loss was attributed to a discontinued $0.6M contract with one Premium services customer and a $0.5M decrease from two Proactive services customers.
• As of March 31, 2025, one customer represented 41% of accounts receivable, net.
• For the three months ended March 31, 2025, one customer represented 15% of total revenues.
• Within Precision Logistics, one vendor accounted for 99% of transportation cost as of March 31, 2025, indicating a critical supplier relationship for this core customer base.

The company is actively working to stabilize this base, noting a new partnership with another major US parcel carrier, which should help set the stage for organic revenue growth in 2026.

Finance: draft 13-week cash view by Friday.

VerifyMe, Inc. (VRME) - Canvas Business Model: Cost Structure

You're looking at the cost side of VerifyMe, Inc. (VRME) as of late 2025, focusing on the numbers reported for the third quarter ending September 30, 2025. This gives us a clear, if somewhat snapshot, view of where the money is going.

The core of the direct costs relates to the Precision Logistics Segment, which accounted for 99% of Q3 2025 revenue. The improved gross margin suggests better cost control here, even with the ongoing partner transition.

Cost Component	Q3 2025 Financial Figure	Context/Comparison
Gross Margin Percentage	41%	Up from 35% in Q3 2024
Gross Profit	$2.1 million	Up from $1.9 million in Q3 2024
Revenue (Consolidated)	$5.0 million	Down from $5.4 million in Q3 2024
Cost of Goods Sold (Implied)	$2.9 million	Calculated as Revenue ($5.0M) minus Gross Profit ($2.1M)

The operating expenses show a significant reduction, excluding the large one-time charge. This discipline is a key focus area for the company.

• Operating expenses (excluding impairment) were reduced to $1.7 million in Q3 2025.
• This represents a decrease from $2.5 million reported in Q3 2024.
• The reduction is partly due to the divestiture of the TrustCodes business in December 2024 and general cost-cutting within Precision Logistics.

A major, non-recurring cost hit the bottom line in the form of an impairment charge. This is a significant non-cash event that heavily influenced the GAAP net loss.

The non-cash goodwill and intangible asset impairment recorded in Q3 2025 totaled $3.9 million. This charge was specifically related to goodwill and intangible assets in the PeriShip business.

The costs associated with the transition to a new shipping partner are intertwined with this impairment. The company noted that the $3.9 million impairment charge included the accelerated amortization of certain supplier-specific technology development projects that are no longer going to be used. Management expects this shipping partner transition to cause material revenue impacts in Q4 2025 and Q1 2026.

Regarding ongoing technology costs, the only specific figure tied to development is embedded within the impairment. The accelerated amortization of supplier-specific technology development projects is part of the $3.9 million impairment. No separate, ongoing figure for technology development and maintenance costs outside of this one-time charge is explicitly detailed in the Q3 2025 summary data available.

Finance: draft 13-week cash view by Friday.

VerifyMe, Inc. (VRME) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for VerifyMe, Inc. as of the third quarter of 2025. Honestly, the picture is dominated by one area, but there are a few other smaller pieces contributing to the top line.

The bulk of the money comes from the logistics side of the house. For Q3 2025, the consolidated revenue hit \$5.0 million. That number reflects a slight dip from the prior year's \$5.4 million in Q3 2024, primarily due to losing some older Proactive services contracts totaling about \$0.8 million.

Here's a breakdown of where that \$5.0 million came from in the third quarter:

Revenue Stream Component	Q3 2025 Contribution Detail	Financial Metric
Precision Logistics Services	Accounted for 99% of total revenue	Approximately \$4.95 million (based on 99% of \$5.0M)
Authentication Segment	Minor portion, impacted by divestiture	Not explicitly quantified for Q3 2025
Interest Income	From short-term note investment	Amount not specified for Q3 2025
Directly Contracted PeriShip Revenue	Included within Precision Logistics growth	Contributed to offsetting revenue declines

The Precision Logistics services revenue is the engine here. It's what's keeping the lights on, and management is focused on growing this organically. The gross margin for this segment actually improved to 41% in Q3 2025, up from 35% year-over-year, thanks to better negotiated rates and cost reductions. That margin expansion is a key focus area for the business strategy.

The Authentication segment is definitely a minor portion of total revenue now. You should note that the TrustCodes business, which was part of this segment, was divested in December 2024, leading to a decrease in operating expenses in Q3 2025 when excluding one-time charges.

Regarding the interest income, VerifyMe, Inc. held a \$2.0 million short-term note investment as of September 30, 2025, which generates regular quarterly interest payments. While the principal amount is clear, the specific interest income earned in Q3 2025 isn't itemized separately from the total revenue figure.

Revenue from directly contracted PeriShip customers falls under the Precision Logistics umbrella, which is the primary organic focus for growth moving into 2026. The company is setting the stage for organic revenue growth in 2026, aiming for a higher margin profile.

Key drivers impacting the revenue profile include:

• Precision Logistics accounted for 99% of Q3 2025 revenue.
• Gross profit increased by \$0.2 million to \$2.1 million in Q3 2025.
• A new partnership with a major US parcel carrier is expected to support future growth.
• Management expects Q4 2025 and Q1 2026 revenue to decline versus the prior year due to a proactive shipping partner change and capacity constraints delaying customer migrations.

Finance: draft 13-week cash view by Friday.