VerifyMe reports Q2 adjusted EPS (11c) vs. (10c) last year

Reports Q2 revenue $5.3M vs. $4.5M last year. Adam Stedham, VerifyMe’s CEO and President stated, “Since joining the company in June of this year, we have defined two operating segment strategies aligned to our traceability services, and overhauled the executive team. Q2 2023 revenue is 19% above the same quarter 2022 revenue. The acquisition and integration of Trust Codes impacted Q2 profitability, but the vertical integration of their technology is key to execution of our traceability strategy. I expect the combination of the traceability strategy, strategic leadership reorganization, and cost rationalization will enable growth of the company beginning in the second half of 2023 and accelerating in 2024.”