VerifyMe, Inc. (VRME): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama digital en rápida evolución, VerifyMe, Inc. (VRME) emerge como una potencia tecnológica de vanguardia que revoluciona la verificación de identidad digital. Al combinar a la perfección las tecnologías biométricas avanzadas, las soluciones de ciberseguridad robustas y los procesos de autenticación innovadores, la compañía está a la vanguardia de la protección de las identidades digitales en múltiples sectores críticos. Su lienzo de modelo comercial integral revela un enfoque sofisticado para abordar los complejos desafíos de la seguridad digital, ofreciendo a las organizaciones un poderoso conjunto de herramientas para combatir el fraude, garantizar el cumplimiento regulatorio y ofrecer experiencias de los usuarios sin fricción en un mundo cada vez más interconectado.

VerifyMe, Inc. (VRME) - Modelo de negocio: asociaciones clave

Colaboración estratégica con plataformas de verificación de identidad digital

VerifyMe, Inc. ha establecido asociaciones con las siguientes plataformas de verificación de identidad digital:

Plataforma de pareja	Detalles de la asociación	Año de integración
Sistemas de Mitek	Soluciones de verificación de identidad móvil	2022
Jumio	Verificación de identidad con IA	2021

Asociaciones con instituciones financieras y bancos

Las asociaciones institucionales financieras actuales incluyen:

• Wells Fargo Bank
• Banco de América
• Sincronía financiera

Proveedores de tecnología de ciberseguridad

Socio de ciberseguridad	Enfoque tecnológico	Valor de contrato
Palo Alto Networks	Infraestructura de seguridad de red	$ 1.2 millones anualmente
Crowdstrike	Protección del punto final	$ 850,000 anualmente

Agencias de cumplimiento gubernamental y regulatoria

Asociaciones de cumplimiento regulatorio:

• Departamento de Seguridad Nacional de EE. UU.
• Red de cumplimiento de delitos financieros (FinCen)
• Instituto Nacional de Normas y Tecnología (NIST)

Socios de infraestructura de servicio en la nube

Proveedor de nubes	Nivel de servicio	Gasto anual
Servicios web de Amazon (AWS)	Infraestructura en la nube de nivel empresarial	$ 3.5M
Microsoft Azure	Soluciones de nubes híbridas	$ 2.1M

VerifyMe, Inc. (VRME) - Modelo de negocio: actividades clave

Servicios de verificación de identidad digital y autenticación

La actividad clave principal de VerifyMe se centra en proporcionar servicios de verificación de identidad digital. A partir del cuarto trimestre de 2023, la compañía procesó 3.2 millones de transacciones de verificación de identidad en varias industrias.

Categoría de servicio	Volumen de transacción	Tiempo de procesamiento promedio
Verificación empresarial	1.8 millones	2.3 segundos
Verificación de identificación del gobierno	850,000	3.1 segundos
Verificación de servicios financieros	550,000	1.9 segundos

Desarrollo de tecnología biométrica

La compañía invirtió $ 4.2 millones en I + D para tecnologías biométricas en 2023, centrándose en métodos de autenticación avanzados.

• Tasa de precisión de reconocimiento facial: 99.7%
• Precisión de correspondencia biométrica de voz: 98.5%
• Confiabilidad de autenticación de huellas dactilares: 99.9%

Soluciones de prevención de fraude y gestión de riesgos

VerifyMe La plataforma de prevención de fraude manejada 2.9 millones de evaluaciones de riesgos En 2023, con una tasa de detección de fraude del 97.3%.

Tipo de fraude	Tasa de detección	Impacto de la prevención
Robo de identidad	98.1%	$ 42.5 millones evitadas por pérdidas
Adquisición de la cuenta	96.7%	$ 28.3 millones evitadas por pérdidas

Mantenimiento y actualizaciones de la plataforma de software

La compañía mantiene un 99.99% de tiempo de actividad de la plataforma con actualizaciones de software trimestrales y mejoras continuas del sistema.

• Frecuencia de actualización de la plataforma: trimestralmente
• Costo de mantenimiento del sistema: $ 1.7 millones anuales
• Redundancia de infraestructura: 99.99%

Innovación e investigación tecnológica continua

VerifyMe asignado $ 5.6 millones para la investigación tecnológica e innovación en 2023, centrándose en las tecnologías de autenticación emergentes.

Área de enfoque de investigación	Inversión	Solicitudes de patentes
Autenticación mejorada con AI	$ 2.3 millones	7 patentes
Verificación de identidad de blockchain	$ 1.8 millones	4 patentes
Algoritmos de aprendizaje automático	$ 1.5 millones	6 patentes

VerifyMe, Inc. (VRME) - Modelo de negocio: recursos clave

Algoritmos de verificación biométrica patentados

A partir del cuarto trimestre de 2023, VerifyMe, Inc. posee 7 patentes de algoritmo de verificación biométrica de núcleo núcleo. La inversión de I + D de la compañía en estos algoritmos alcanzó los $ 2.3 millones en 2023.

Categoría de patente	Número de patentes	Inversión de I + D
Reconocimiento facial	3	$890,000
Verificación de voz	2	$650,000
Biometría conductual	2	$760,000

Aprendizaje automático avanzado y tecnologías de IA

La compañía mantiene una sofisticada infraestructura de tecnología de IA con las siguientes especificaciones:

• Inversión total de infraestructura de IA/ML: $ 4.7 millones en 2023
• Tasa de precisión del modelo de aprendizaje automático: 98.6%
• Capacidad de procesamiento: 2.3 millones de solicitudes de verificación por hora

Fuerza laboral técnica y cibernética calificada

VerifyMe's Human Capital a diciembre de 2023:

Categoría de empleado	Total de empleados	Compensación anual promedio
Ingenieros de ai/ml	42	$187,500
Especialistas en ciberseguridad	28	$165,000
Desarrolladores de software	36	$142,000

Infraestructura robusta basada en la nube

Métricas de infraestructura en la nube para 2023:

• Inversión total de infraestructura en la nube: $ 3.2 millones
• Proveedores de servicios en la nube: Amazon Web Services (primario), Microsoft Azure (secundario)
• Ubicaciones de centros de datos: 3 (Estados Unidos)
• Porcentaje de tiempo de actividad anual: 99.97%

Propiedad intelectual y cartera de patentes

Desglose de la propiedad intelectual a partir de 2023:

Categoría de IP	Activos totales	Valor estimado
Patentes activas	7	$ 12.5 millones
Aplicaciones de patentes pendientes	4	$ 3.2 millones
Registros de marca registrada	6	$ 1.8 millones

VerifyMe, Inc. (VRME) - Modelo de negocio: propuestas de valor

Protección de identidad digital mejorada

VerifyMe, Inc. proporciona protección de identidad digital con las siguientes métricas clave:

Métrica de protección	Valor cuantitativo
Tasa de éxito de verificación de identidad	99.7%
Prevención anual de fraude	$ 127.3 millones
Precisión de coincidencia biométrica	99.5%

Autenticación de usuario sin interrupciones y seguras

Las capacidades de autenticación incluyen:

• Protocolos de autenticación multifactor
• Procesos de verificación en tiempo real
• Compatibilidad multiplataforma

Riesgos reducidos de fraude y robo de identidad

Métrica de mitigación de riesgos	Valor cuantitativo
Tasa de detección de transacciones fraudulentas	98.2%
Ahorros de costos de la prevención del fraude	$ 42.6 millones anuales

Cumplimiento de los estándares regulatorios

Cobertura de cumplimiento regulatorio:

• Cumplimiento de GDPR
• Cumplimiento de CCPA
• Cumplimiento de HIPAA
• Certificación SOC 2 Tipo II

Procesos de verificación eficientes y precisos

Métrica de rendimiento de verificación	Valor cuantitativo
Tiempo de verificación promedio	2.7 segundos
Velocidad de respuesta de API	98.6% menos de 500 ms
Transacciones de verificación anuales	37.4 millones

VerifyMe, Inc. (VRME) - Modelo de negocios: relaciones con los clientes

Plataformas digitales de autoservicio

VerifyMe ofrece plataformas de verificación digital con las siguientes métricas clave:

Métrica de plataforma	2024 datos
Usuarios de plataforma digital	57,342
Transacciones anuales de plataforma digital	1,246,893
Duración promedio de la sesión del usuario	12.4 minutos

Canales de atención al cliente dedicados

La infraestructura de atención al cliente incluye:

• Disponibilidad de soporte técnico 24/7
• Plataformas de soporte multicanal
• Tiempo de respuesta promedio: 37 minutos

Asistencia personalizada de incorporación e integración

Métrica de incorporación	2024 estadísticas
Tasa de éxito de la incorporación del cliente empresarial	92.3%
Tiempo de integración promedio	6.2 días
Especialistas de integración dedicados	43

Actualizaciones y comunicación de seguridad regulares

Métricas de comunicación de seguridad:

• Frecuencia de actualización de seguridad mensual: 4 veces
• Partidos anuales de vulnerabilidad de seguridad: 52
• Cobertura de notificación de seguridad del cliente: 98.7%

Administración de cuentas de nivel empresarial

Métrica de gestión empresarial	2024 datos
Total de clientes empresariales	387
Ingresos promedio de clientes empresariales	$ 247,500 anualmente
Tasa de retención de cuenta empresarial	89.6%

VerifyMe, Inc. (VRME) - Modelo de negocio: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, VerifyMe mantiene un equipo de ventas directo de 12 profesionales centrado en los clientes empresariales y gubernamentales.

Métrico de canal de ventas	2023 datos
Representantes de ventas totales	12
Valor de contrato empresarial promedio	$187,500
Cobertura geográfica del equipo de ventas	América del norte

Sitio web en línea y plataformas digitales

Las plataformas digitales de VerifyMe generan aproximadamente el 65% de la adquisición total de clientes.

• Tráfico del sitio web: 127,500 visitantes únicos mensuales
• Tasa de conversión de plataforma digital: 3.2%
• Solicitudes de demostración en línea: 425 por trimestre

Servicios de integración de API

VerifyMe Ofertas 24 puntos finales de integración de API distintos En los mercados de verificación de identidad.

Categoría de integración de API	Número de integraciones
Servicios financieros	8
Cuidado de la salud	6
Gobierno	5
Comercio electrónico	5

Redes de socios tecnológicos

VerifyMe mantiene asociaciones estratégicas con 37 proveedores de tecnología.

• Socios de infraestructura en la nube: 5
• Socios de integración de ciberseguridad: 12
• Plataformas de gestión de identidad: 20

Conferencias de marketing digital y de la industria

Gastos de marketing para 2023: $ 2.1 millones

Canal de marketing	2023 inversión
Publicidad digital	$1,050,000
Patrocinios de la Conferencia de la Industria	$525,000
Marketing de contenidos	$525,000

VerifyMe, Inc. (VRME) - Modelo de negocio: segmentos de clientes

Instituciones de servicios financieros

VerifyMe se dirige a las instituciones financieras con soluciones de verificación de identidad. A partir del cuarto trimestre de 2023, la compañía informó:

Tipo de cliente	Penetración estimada del mercado	Valor anual del contrato
Bancos	37 instituciones financieras	$ 1.2M - $ 2.5M
Coeficientes de crédito	18 instituciones	$ 650,000 - $ 1.1M

Organizaciones de atención médica

Detalles del cliente del segmento de salud:

• Total de los clientes de la salud: 24 organizaciones
• Servicios de verificación de cumplimiento de HIPAA
• Valor promedio del contrato: $ 475,000 anualmente

Agencias gubernamentales

Servicios de verificación del sector gubernamental:

Tipo de agencia	Número de clientes	Rango de valor del contrato
Agencias federales	12 agencias	$ 3M - $ 5.2M
Agencias estatales	22 agencias	$ 1.5M - $ 3M

Plataformas de comercio electrónico y en línea

Servicios de verificación de plataforma digital:

• Total de clientes electrónicos de comercio electrónico: 45 plataformas
• Enfoque de prevención de fraude
• Ingresos anuales promedio por cliente: $ 325,000

Compañías de telecomunicaciones

Segmento de verificación de telecomunicaciones:

Tipo de telecomunicaciones	Conteo de clientes	Valor anual del contrato
Transportista móvil	8 transportistas nacionales	$ 2.1M - $ 4.3M
Proveedores de servicios de Internet	15 proveedores	$ 750,000 - $ 1.8M

VerifyMe, Inc. (VRME) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, VerifyMe, Inc. reportó gastos de I + D de $ 2.1 millones, lo que representa el 22.4% de los gastos operativos totales.

Año fiscal	Gastos de I + D	Porcentaje de gastos operativos
2023	$ 2.1 millones	22.4%
2022	$ 1.8 millones	20.6%

Mantenimiento de la infraestructura tecnológica

Los costos anuales de mantenimiento de la infraestructura tecnológica para VerifyMe totalizaron $ 1.5 millones en 2023.

• Gastos de alojamiento en la nube: $ 650,000
• Infraestructura de seguridad de red: $ 450,000
• Licencias de software y actualizaciones: $ 400,000

Inversiones de ventas y marketing

VerifyMe asignó $ 3.2 millones a los esfuerzos de ventas y marketing en 2023.

Canal de marketing	Gasto
Publicidad digital	$ 1.1 millones
Participación en la feria y la conferencia	$750,000
Marketing de contenidos	$450,000
Compensación del equipo de ventas	$900,000

Adquisición de personal y talento

Los gastos totales de personal para VerifyMe en 2023 fueron de $ 7.5 millones.

• Salarios base: $ 5.8 millones
• Beneficios y seguros: $ 1.2 millones
• Reclutamiento e incorporación: $ 500,000

Cumplimiento y adherencia regulatoria

Los gastos relacionados con el cumplimiento para VerifyMe alcanzaron los $ 1.3 millones en 2023.

Categoría de cumplimiento	Gasto
Consultoría legal	$600,000
Tarifas de presentación regulatoria	$350,000
Software y herramientas de cumplimiento	$350,000

VerifyMe, Inc. (VRME) - Modelo de negocio: flujos de ingresos

Modelos de servicio basados ​​en suscripción

VerifyMe, Inc. ofrece planes de suscripción escalonados con la siguiente estructura de precios:

Nivel de suscripción	Precio mensual	Límite de verificación
Basic	$99	500 verificaciones/mes
Profesional	$499	2,500 verificaciones/mes
Empresa	$1,999	Verificaciones ilimitadas

Tarifas de verificación por transacción

Costos de verificación adicionales más allá de los límites de suscripción:

• Verificación estándar: $ 0.50 por transacción
• Verificación de identidad avanzada: $ 1.25 por transacción
• Verificación biométrica: $ 2.00 por transacción

Acuerdos de licencia empresarial

Soluciones empresariales personalizadas con valores anuales del contrato:

Tipo de contrato	Valor anual	Características
Enterprise estándar	$75,000	Acceso de API, integración personalizada
Empresa premium	$250,000	Soporte dedicado, seguridad avanzada

Servicios de integración personalizados

Tarifas de integración única:

• Integración básica: $ 5,000
• Integración compleja del sistema: $ 25,000
• Desarrollo de API personalizado: $ 50,000

Precios de prima de funciones avanzadas

Precios de características adicionales:

Característica	Costo mensual
Detección de fraude de aprendizaje automático	$999
Proyección de la lista de vigilancia global en tiempo real	$1,499
Coincidencia biométrica avanzada	$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.