VerifyMe, Inc. · NASDAQ:VRME
VerifyMe — Q3 2022 Earnings Presentation
18 slides from VerifyMe's earnings presentation, Nov 10, 2022
Slide 1: Third Quarter 2022 Investor Conference Call
www.VerifyMe.com Confidential Property of VerifyMe Protect your brand. Grow your business. Third Quarter 2022 Investor Conference Call November 10, 2022 NASDAQ:VRME NASDAQ:VRME
Slide 2: Agenda
www.VerifyMe.com Agenda Welcome & Introductions Confidential Property of VerifyMe Operations Update Financial Review Q&A Closing Remarks NASDAQ:VRME 2
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS www.VerifyMe.com In addition to historical information, this presentation contains statements relating to the acquisition of PeriShip, LLC by VerifyMe, Inc. and integration of the two companies, anticipated synergies of the acquisition, revenue opportunities, anticipated r
Slide 4: Welcome Remarks
www.VerifyMe.com Welcome Remarks Scott Greenberg Executive Chairman Confidential Property of VerifyMe Remarks Future Outlook NASDAQ:VRME 4
Slide 5: Financial and Equity Snapshot
www.VerifyMe.com Financial and Equity Snapshot Exchange/Ticker: NASDAQ: VRME Stock Price (11/2/22): $1.23 Confidential Property of VerifyMe Shares Outstanding (11/2/22) 9.0 million Market Cap: $ 11.1 million Cash Balance: $3.7 million as of September 30, 2022 Debt: $2.0 million as of September 30, 2
Slide 6: Q3 Highlights
Q3 Highlights www.VerifyMe.com Revenue of $5.2 million(1) for the quarter Gross Profit of $1.8 million or 36% for the quarter Confidential Property of VerifyMe Net Loss of $0.6 million in Q3 2022, compared to Net Income of $7.2 million in Q3 2021 (inclusive of unrealized gain on SPAC of $8.2 m
Slide 7: Q3 Business Highlights
Q3 Business Highlights www.VerifyMe.com Entered into multi-year contract extension with our strategic partner and largest customer of PeriShip Global Confidential Property of VerifyMe Rolled out social media campaign focused on increased visibility and engagement for proactive customers New Pe
Slide 8: PeriShip Highlights
PeriShip Highlights www.VerifyMe.com • We have serviced the logistics industry for more than 20 years. Experienced • We have partnered exclusively with one strategic partner • We are actively providing services to over 400+ customers. Confidential Property of VerifyMe • We have over 80% customer ret
Slide 9: Revenue by Market Sector for the Quarter
Revenue by Market Sector for the Quarter www.VerifyMe.com 7% 2% 17% Confidential Property of VerifyMe 2% 1% 70% Pharma Agriculture Apparel Food & Beverage Health & Beauty Other NASDAQ:VRME 9
Slide 10: Outlook
www.VerifyMe.com Outlook Adjusted EBITDA in Q3 of $(198) thousand approaching break even Confidential Property of VerifyMe Due to seasonality of the business and the addition of new customers, Q4 of 2022 is expected to show improvement in both Revenue and Adjusted EBITDA While the legacy techn
Slide 11: Financials
www.VerifyMe.com Confidential Property of VerifyMe NASDAQ:VRME 11 Financials
Slide 12: 2022 Selected Financial Highlights
2022 Selected Financial Highlights www.VerifyMe.com Q1 2022 Q2 2022 Q3 2022 YTD 2022 Confidential Property of VerifyMe Revenue 161 4,497 5,215 9,873 Gross profit 123 1,685 1,855 3,663 Gross margin 76% 37% 36% 37% General and administrative expenses 1,465 2,535 2,213 6,213 Sales and marketing expense
Slide 13: Revenue and Gross Profit
Revenue and Gross Profit www.VerifyMe.com $12,000 $9,873 $10,000 Confidential Property of VerifyMe $8,000 $ in Thousands $6,000 39% $4,000 $3,663 $2,000 NASDAQ:VRME 82% 82% $867 $599 $245 $200 $343 $281 $0 FY 2019 FY 2020 FY 2021 * YTD 2022 Revenue Gross Profit YTD 2022 Revenue and Gross Profit incl
Slide 14: Balance Sheet
September 30,2022 June 30, 2022 December 31, Balance Sheet ($ in thousands) (unaudited) (unaudited) 2021 www.VerifyMe.com Assets Cash and cash equivalents $3,694 $3,751 $9,422 Key Highlights Accounts receivable and unbilled revenue 1,883 2,360 297 Equity Investment - - 10,964 Intangible assets & Con
Slide 15: Q&A
www.VerifyMe.com Confidential Property of VerifyMe NASDAQ:VRME 15 Q&A
Slide 16: Appendices
www.VerifyMe.com Confidential Property of VerifyMe NASDAQ:VRME 16 Appendices
Slide 17: Non-GAAP Reconciliation – Adjusted EBITDA
Non-GAAP Reconciliation – Adjusted EBITDA(1) www.VerifyMe.com Three Months Ended Nine Months Ended September 30, September 30, ADJUSTED EBITDA (Non-GAAP) 2022 2021 2022 2021 Confidential Property of VerifyMe Net (loss) income $ (557) $ 7,189 $ (14,506) $ 4,616 Interest expense (income), net 32 (1) 5
Slide 18: Protect your brand. Grow your business.
Protect your brand. Grow your business. US Headquarters 75 S Clinton Avenue Suite 510 Rochester NY 14604 +1 585 736 9400 info@verifyme.com 18