HomeInvesting NewsVerifyMe Extends the Client’s Services Agreement by Two Years

VerifyMe Extends the Client’s Services Agreement by Two Years

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VerifyMe (NASDAQ:VRME)

VerifyMe (NASDAQ:VRME) disclosed on Wednesday that it had extended its professional services agreement with the key partner for an additional number of years. The Agreement’s duration, which was initially supposed to terminate on March 1, 2024, has been extended until March 1, 2026.

Strategic Partnership

The value-added service we deliver to our shared consumers, in our opinion, is what led to the agreement to prolong. According to Curt Kole, executive vice president of sales and global strategy, “We have a track record of assisting our customers in meeting their time and temperature delivery objectives, while avoiding waste, risk, and spoiling.”

According to Patrick White, CEO, “We are very happy that our strategic partner continues to place their trust in our company to satisfy their customer’s demands, and look forward to extending our long-standing partnership.”

By placing special smartphone readable codes on their products, VerifyMe, Inc (NASDAQ:VRME) and its subsidiary PeriShip Global LLC offer brand owners time and temperature-sensitive logistics, authentication, supply chain monitoring, and data-rich customer interaction capabilities.

Outlook 

VerifyMe (NASDAQ:VRME) is exposed to underperforming due to decelerating momentum and negative EPS revisions when compared to other information technology stocks, according to a warning from Seeking Alpha Quant System published on August 31, 2022. Wall Street’s Buy rating contrasts sharply with Quant’s Strong Sell recommendation. While VRME stock has dropped 62% over the last year, it is up 10% in Wednesday’s premarket.

In its Q2 filing, VerifyMe (NASDAQ:VRME) posted significant growth in revenues. The company recorded a 3,527% increase from $0.1 million in the three months ending June 30, 2021, to $4.5 million in the three months ending June 30, 2022. The acquisition of the PeriShip company on April 22, 2022, is the main cause of the rise in revenue.

Featured Image-  Megapixl @Aleksandrmarko86

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