Slide 1: First Quarter 2023 Investor Conference Call
yMe.com Confidential Property of VerifyMe Protect your brand. Grow your business. First Quarter 2023 NASDAQ:VRME Investor Conference Call May 11, 2023 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 acquisitions of PeriShip, LLC and Trust Codes Limited, by VerifyMe, Inc. and integration of the companies, anticipated synergies of the acquisitions, revenue oppor
Slide 4: Welcome Remarks
www.VerifyMe.com Welcome Remarks Scott Greenberg Interim Chief Executive Officer and 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 Confidential Property of VerifyMe Stock Price (5/4/23): $1.86 Shares Outstanding (5/4/23) approximately 9.4 million Market Cap: $17.5 million Cash Balance: $3.1 million as of March 31, 2023 Debt: $2.3 million as of March 31
Slide 6: Business Update
www.VerifyMe.com Business Update Positioning the business as a software driven logistics company providing end-to-end supply chain assurance and trust Confidential Property of VerifyMe Enhanced focus on food and beverage markets GS1 certification; Sunrise 2027 Made significant strides toward
Slide 7: Sales and Marketing Initiatives
www.VerifyMe.com Sales and Marketing Initiatives Integrating salesforce and marketing campaigns to promote combined Confidential Property of VerifyMe service offering Rebranded PeriShip website and messaging expected to roll-out end of Q2 Blending sales approach to offer end to end information
Slide 8: Revenue by Market Sector for the Quarter
Revenue by Market Sector for the Quarter www.VerifyMe.com 12% 1% 15% Confidential Property of VerifyMe 4% 0% 68% Healthcare Agriculture Apparel Food & Beverage Health & Beauty Other NASDAQ:VRME 8
Slide 9: Financials
www.VerifyMe.com Confidential Property of VerifyMe NASDAQ:VRME 9 Financials
Slide 10: Q1 Highlights
Q1 Highlights www.VerifyMe.com 5,661 6,000 5,000 4,000 (in thousands) Confidential Property of VerifyMe 3,000 1,754 2,000 1,000 161 123 0 2023 2022 Revenue Gross Profit Revenue of $5.7 million in Q1 2023 vs $0.2 million in Q1 2022 NASDAQ:VRME 96% of revenue related to PeriShip Global business ac
Slide 11: 2023 Selected Financial Highlights
2023 Selected Financial Highlights www.VerifyMe.com (in thousands) Q1 2023 Q1 2022 Revenue 5,661 161 Gross profit 1,754 123 Confidential Property of VerifyMe Gross margin percentage 31% 76% General and administrative expenses 2,756 1,465 Sales and marketing expenses 494 299 Net loss (1,580) (1,394)
Slide 12: Balance Sheet March 31, 2023 and December 31, 2022
Balance Sheet March 31, 2023 December 31, 2022 www.VerifyMe.com ($ in thousands) (Unaudited) Assets Key Highlights Cash and cash equivalents $3,085 $3,411 Accounts receivable and • Cash of $3.1 M as of unbilled revenue 2,400 5,633 March 31, 2023 ($0.6M Intangible assets & Confidential Property of Ve
Slide 13: Q&A
www.VerifyMe.com Confidential Property of VerifyMe NASDAQ:VRME 13 Q&A
Slide 14: Appendix
www.VerifyMe.com Confidential Property of VerifyMe NASDAQ:VRME 14 Appendix
Slide 15: Non-GAAP Reconciliation – Adjusted EBITDA
Non-GAAP Reconciliation – Adjusted EBITDA(1) www.VerifyMe.com Three Months Ended March 31 2023 2022 Net loss (GAAP) $ (1,580) $ (1,394) Interest expense (income), net 42 (1) Amortization and depreciation 282 35 Confidential Property of VerifyMe - Total EBITDA (Non-GAAP) $ (1,256) $ (1,360) Adjustmen
Slide 16: 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 16