Slide 1: Fourth Quarter 2023 Investor Conference Call
Protect your brand. Grow your business. Fourth Quarter 2023 Investor Conference Call March 21, 2024 www.VerifyMe.com NASDAQ:VRME 1
Slide 2: Agenda
Agenda NASDAQ:VRME 01 Welcome & Introductions Operations and Strategic Update Financial Review Q&A Closing Remarks 02 03 www.VerifyMe.com 04 05 2
Slide 3: Forward Looking Statements
Forward Looking Statements I n addition to historical information, this presentation contains statements relating to revenue opportunities, anticipated revenue, profitability of the combined company, future business, financial performance, future catalysts and future events or developments, strategy
Slide 4: Welcome
Welcome Adam Stedham Chief Executive Officer and President www.VerifyMe.com NASDAQ:VRME 4
Slide 5: Strategic Snapshot
Performance 1 • Positive Adjusted EBITDA (1) for 2023 fiscal year • Revenue of $25.3M for 2023 fiscal year • Double - digit revenue growth in 2024 with H2 growth rate exceeding H1 growth rate Capital • Total cash net of current maturities of long - term debt end of December 2023 of $2.6M • Positive
Slide 6: Financials – Q4 2023 Financial Highlights – Balance Sheet
Financials www.VerifyMe.com NASDAQ:VRME – Q4 2023 Financial Highlights – Balance Sheet 6
Slide 7: Full Year 2023 and Q4 Financial Highlights
Full Year 2023 and Q4 Financial Highlights Revenue Revenue of $25.3M for fiscal 2023, $8.7M in Q4 2023 $25.3M Net Income/Loss Loss of $3.4M for fiscal 2023, Income of less than $0.1M in Q4 2023 ($0.4M) $3.1M Gross Profit GP increase $2.5M for fiscal 2023, and $0.3M in Q4 2023 $9.0M 36% compared to 3
Slide 8: Balance Sheet
December 31, 2023 December 31, 2022 Assets Cash and cash equivalents $3,095 $3,411 Accounts receivable and unbilled revenue Intangible assets & Goodwill 4,299 12,311 5,633 10,533 Other assets 1,000 1,175 Total Assets $20,705 $20,752 Current Liabilities Accounts payable, accrued exp, current lease ex
Slide 9: Q & A
9 Q & A 9 NASDAQ:VRME www.VerifyMe.com Confidential Property of VerifyMe
Slide 10: Appendix
10 www.VerifyMe.com Confidential Property of VerifyMe NASDAQ:VRME Appendix
Slide 11: Non-GAAP Reconciliation
11 www.VerifyMe.com Non - GAAP Reconciliation This presentation includes both financial measures in accordance with U . S . generally accepted accounting principles (“GAAP”), as well as non - GAAP financial measures . Generally, a non - GAAP financial measure is a numerical measure of a company’s pe
Slide 12: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA
12 www.VerifyMe.com Non - GAAP Reconciliation – EBITDA and Adjusted EBITDA (In Thousands) ADJUSTED EBITDA (Non-GAAP) 2023 2022 2023 2022 Net Income (Loss) GAAP 2$ 108$ (3,390)$ (14,398)$ Interest expense, net 34 34 161 88 Gain on extinguisment of debt - - (326) Amortization and depreciation 299 266
Slide 13: Protect your brand. Grow your business.
Protect your brand. Grow your business. US Headquarters 801 International Parkway Fifth Floor Lake Mary, FL 32746 +1 585 736 9400 info@ verifyme.com 13