VerifyMe Q2 Revenue Plunges 58% to $1.9M as Legacy Business Erodes
VRME sits 17% above its 52-week low of $0.59 on light trading volume (0.3× avg).
Summary
VerifyMe reported Q2 2026 revenue of $1.9 million, down 58% from $4.5 million a year earlier, driven by the loss of ProActive services revenue after the September 2025 termination of its prior carrier agreement. Gross margin improved to 54% from 35% due to a shift in service mix, but net loss widened to $0.5 million from $0.3 million. Adjusted EBITDA fell to breakeven from $0.3 million. Cash stands at $5.1 million with $4.7 million in working capital. The company is not holding an earnings call. This follows the ongoing reverse merger with OpenWorld, which is expected to dilute current shareholders by 90% and is scheduled for a stockholder vote on September 24, 2026.
At the time of this announcement, VRME was trading at $0.69 on NASDAQ in the Technology sector, with a market capitalization of approximately $9.1M. The 52-week trading range was $0.59 to $1.51. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.