VerifyMe (VRME) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue was $7.427M, including $6.390M from RWA services; total revenue fell sharply as token-generation activity declined.

• The September 30 reverse acquisition shifted the business toward digital assets, blockchain infrastructure and RWA tokenization; acquired logistics operations were expected to contribute in Q4.

• RWA services generated 86% of quarterly revenue; adjusted EBITDA was $2.251M despite a $10.204M net loss that included transaction fees and stock compensation.

Financial highlights

• Q3 revenue was $7.427M versus $20.753M YoY; 9M revenue was $15.192M versus $30.674M.

• Q3 gross profit was $6.257M versus $16.029M; 9M gross profit was $13.679M versus $25.625M.

• Net loss was $10.204M, or $0.93 per share, in Q3 and $16.064M, or $1.58 per share, for 9M.

• Adjusted EBITDA was $2.251M in Q3 versus $18.004M; 9M adjusted EBITDA was $(2.985)M versus $8.517M.

• G&A was $14.6M, including $6M in merger and listing fees and $6.4M in non-cash stock compensation.

Outlook and guidance

• $21.210M of RWA transaction price remained allocated to unsatisfied or partially satisfied performance obligations at September 30; revenue recognition depends on performance and engagement schedules.

• More than $1.1B in proposed tokenized financing programs was covered by non-binding LOIs after quarter-end; definitive agreements and capital formation remained in progress.

• Management expects recurring platform and servicing fees, reusable technology and limited incremental delivery costs to support margins and operating leverage as the business scales.

• Testing for the initial 10,000-home AI computing network deployment was targeted for Q4 2026, with the first commercial site planned for Q1 2027.