VRME VerifyMe, Inc. - Common Stock
$0.70
Price · May 19, 2026
Fundamentals as of May 15, 2026
52W Range
$1–$1
12% of range
Analyst Rating
BUY
7 analysts
Price Target
—
P/E (TTM)
-1.5
ROE
-38.6%
Net Profit Margin
-29.9%
VRME Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.70
Market Cap
$8M
P/E (TTM)
-1.5
EPS (TTM)
$-0.39
Revenue (TTM)
$16M
Div Yield
—
ROE
-38.6%
Debt/Equity
—
52W Range
$1 – $1
VRME Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$16M
2018-12-31
→
2025-12-31
EPS
$-0.39
2018-12-31
→
2025-12-31
Free Cash Flow
$585.0K
2023-12-31
→
2025-12-31
Margins
-29.9%
2018-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
VRME
Peer Median
P/E (TTM)
-1.5
47.8
P/S (TTM)
0.5
2.1
P/B
0.7
1.2
Price / FCF
13.4
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
VRME
Peer Median
Gross Margin
38.6%
43.1%
Operating Margin
-30.9%
—
Net Profit Margin
-29.9%
-27.2%
ROA
-33.7%
-45.1%
ROE
-38.6%
-37.5%
ROIC
-35.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VRME
Peer Median
Current Ratio
3.8
4.3
Quick Ratio
0.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VRME
Peer Median
Revenue YoY
-32.3%
—
Revenue CAGR 3Y
-5.7%
—
Revenue CAGR 5Y
116.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VRME
Peer Median
VRME Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
7 analysts
- Strong Buy 2 28.6%
- Buy 4 57.1%
- Hold 1 14.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Dec. 31, 2025 | $-0.05 | $-0.03 | -0.02% |
| Sept. 30, 2025 | $-0.26 | $-0.05 | -0.21% |
| June 30, 2025 | $-0.02 | $-0.08 | 0.06% |
| March 31, 2025 | $-0.05 | $-0.07 | 0.02% |
| Dec. 31, 2024 | $-0.05 | $-0.04 | -0.01% |
Peer Comparison Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VRME | $8M | -1.5 | -32.3% | -29.9% | -38.6% | 38.6% |
| MSAI | — | — | — | — | — | — |
| CETX | — | -15.7 | 14.4% | — | — | — |
| ASTC | $10M | -48.2 | -41.2% | -1385.0% | -55.2% | 47.5% |
| SOBR | — | 0.3 | 105.6% | — | — | — |
| KUST | — | — | — | — | 11.5% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16M | $24M | $25M | $20M | $867.0K | $343.0K | $245.0K | $74.9K | · | $37.1K | $217.3K | $124.6K | |
| Cost of Revenue | $10M | $16M | $17M | $13M | $268.0K | $62.0K | $45.0K | $28.8K | · | $24.4K | $65.7K | $113.0K | |
| Gross Profit | $6M | $9M | $8M | $6M | $599.0K | $281.0K | $200.0K | $46.1K | · | $12.7K | $151.5K | $11.6K | |
| R&D Expense | $20.0K | $70.0K | $107.0K | $89.0K | $51.0K | $19.0K | $5.0K | $187.7K | $128.0K | $250.2K | $2M | $11M | |
| SG&A Expense | $3M | $4M | $4M | $8M | $4M | $2M | $1M | $2M | $2M | $1M | $449.5K | $811.9K | |
| Operating Expenses | $11M | $13M | $11M | $10M | $5M | $4M | $3M | $3M | $3M | $4M | $5M | $14M | |
| Operating Income | $-5M | $-4M | $-3M | $-4M | $-5M | $-4M | $-2M | $-3M | $-3M | $-4M | $-5M | $-14M | |
| Interest Expense | · | · | · | · | · | · | · | $-6.7K | $218.3K | $12.9K | $61.4K | $199.4K | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Other Non-op | $165.0K | $566.0K | $-62.0K | $-11M | $8M | $-2M | $-75.0K | $-336.7K | $-549.8K | $2M | $3M | $6M | |
| Pretax Income | $-5M | $-4M | $-3M | $-14M | $-4M | $-6M | $-3M | $-2.9K | $-3.4K | $-1.6K | · | $-8M | |
| Income Tax | $-1M | $-1M | $0 | · | · | · | · | · | · | · | · | · | |
| Net Income | $-5M | $-4M | $-3M | $-14M | $4M | $-6M | $-3M | $-3M | $-3M | $-2M | $-2M | $-8M | |
| EPS (Basic) | $-0.39 | $-0.37 | $-0.35 | $-1.70 | $0.51 | $-1.48 | $-1.17 | $-0.03 | $-0.14 | $-0.24 | $-0.47 | $-2.22 | |
| EPS (Diluted) | $-0.39 | $-0.37 | $-0.35 | $-1.70 | $0.49 | $-1.48 | $-1.17 | $-0.03 | $-0.14 | $-0.24 | $-0.47 | $-2.22 | |
| Shares (Basic) | 12,619,512 | 10,402,508 | 9,766,469 | 8,466,075 | 7,110,907 | 3,980,202 | 2,149,112 | 93,851,170 | 28,244,361 | 6,860,955 | 4,848,738 | 3,573,511 | |
| Shares (Diluted) | 12,619,512 | 10,402,508 | 9,766,469 | 8,466,075 | 7,383,364 | 3,980,202 | 2,149,112 | 93,851,170 | 28,244,361 | 6,860,955 | 4,848,738 | 3,573,511 | |
| EBITDA | $-5M | $-4M | $-3M | $-4M | $-470.0K | $-4M | $-2M | $-3M | $-3M | $-4M | $-5M | · |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | $3M | $3M | $3M | $9M | $8M | $253.0K | $2M | $693.0K | $22.6K | $4.2K | $64.0K | |
| Short-term Investments | · | · | · | · | $88.0K | · | · | · | · | · | · | · | |
| Receivables | $857.0K | $3M | $3M | $4M | $297.0K | $31.0K | $81.0K | $30.4K | · | · | · | · | |
| Inventory | $37.0K | $39.0K | $38.0K | $81.0K | $52.0K | $54.0K | $30.0K | $42.0K | · | $17.1K | $28.7K | $97.4K | |
| Prepaid Expense | $154.0K | $131.0K | $254.0K | $333.0K | $240.0K | $177.0K | $32.0K | $25.8K | $18.7K | $9.4K | · | $181.1K | |
| Current Assets | $8M | $6M | $8M | $9M | $10M | $8M | $447.0K | $2M | $711.7K | $49.2K | $32.8K | $342.4K | |
| PP&E (Net) | $20.0K | $116.0K | $240.0K | $292.0K | $204.0K | $73.0K | · | · | · | · | $7.8K | $74.8K | |
| PP&E (Gross) | · | · | · | · | · | · | · | $203.2K | $203.2K | $203.2K | $238.5K | $236.0K | |
| Accum. Depreciation | · | · | · | · | · | · | · | $203.2K | $203.2K | $203.2K | $230.6K | $161.2K | |
| Goodwill | $3M | $4M | $5M | $4M | · | · | · | · | · | · | · | · | |
| Intangibles | $2M | $5M | $7M | $7M | $509.0K | $293.0K | $219.0K | $209.0K | $191.5K | $232.0K | $259.3K | $107.6K | |
| Other Non-current Assets | · | · | · | · | · | · | · | · | · | $232.0K | $296.5K | $144.8K | |
| Total Assets | $13M | $16M | $21M | $21M | $22M | $9M | $943.0K | $2M | $903.2K | $281.1K | $337.2K | $562.0K | |
| Accounts Payable | $745.0K | $3M | $3M | $4M | $341.0K | $383.0K | $422.0K | $411.2K | $923.2K | $867.4K | $653.0K | $5M | |
| Accrued Liabilities | $530.0K | $660.0K | $988.0K | $902.0K | $109.0K | · | · | · | · | · | · | $43.2K | |
| Short-term Debt | · | · | $500.0K | $500.0K | · | · | $600.0K | · | $50.0K | $68.1K | $50.0K | $812.6K | |
| Current Liabilities | $2M | $4M | $5M | $5M | $450.0K | $383.0K | $1M | $480.3K | $1M | $2M | $3M | $6M | |
| Capital Leases | · | $139.0K | $307.0K | $359.0K | · | · | · | · | · | · | · | · | |
| Total Liabilities | $2M | $6M | $8M | $7M | $521.0K | $455.0K | $1M | · | · | · | $3M | $13M | |
| Long-term Debt | · | · | $875.0K | $1M | · | · | · | · | · | · | · | · | |
| Total Debt | · | · | $500.0K | $500.0K | · | · | $600.0K | · | $50.0K | $68.1K | $50.0K | · | |
| Common Stock | $14.0K | $11.0K | $10.0K | $10.0K | $7.0K | $6.0K | $2.0K | $102.2K | $53.5K | $8.3K | $6.0K | $3.6K | |
| Paid-in Capital | $102M | $96M | $95M | $93M | $86M | $76M | $62M | $61M | $56M | $40M | $40M | $25M | |
| Retained Earnings | $-91M | $-86M | $-82M | $-78M | $-64M | $-68M | $-62M | $-59M | $-56M | $-42M | $-40M | $-38M | |
| Treasury Stock | $502.0K | $480.0K | $659.0K | $949.0K | $838.0K | $113.0K | $113.0K | $113.4K | $113.4K | $113.4K | $113.4K | $113.4K | |
| AOCI | · | $12.0K | $-2.0K | $-3.0K | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $11M | $10M | $13M | $14M | $21M | $8M | $-67.0K | $2M | $-192.5K | $-1M | $-2M | $-12M | |
| Liabilities + Equity | $13M | $16M | $21M | $21M | $22M | $9M | $943.0K | $2M | $903.2K | $281.1K | $337.2K | $562.0K | |
| Shares Outstanding | 13,071,601 | 10,539,441 | 10,123,964 | 8,951,035 | 7,196,677 | 5,596,877 | 2,232,112 | 102,203,166 | 53,523,332 | 8,330,696 | 5,977,030 | 3,618,566 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $984.0K | $1M | $1M | $770.0K | $117.0K | · | · | · | $43.1K | $30.2K | $94.1K | $82.4K | |
| Stock-based Comp | · | · | · | $96.0K | $39.0K | · | · | · | · | · | · | · | |
| Deferred Tax | $-923.0K | $-516.0K | · | · | · | · | · | · | · | $-431.0K | $-393.0K | $-372.0K | |
| Amort. of Intangibles | $946.0K | $1M | $1M | $657.0K | $64.0K | $28.0K | $34.0K | · | · | · | · | · | |
| Operating Cash Flow | $603.0K | $871.0K | $244.0K | $-3M | $-3M | $-2M | $-2M | $-2M | $-935.9K | $-1M | $-1M | $-2M | |
| CapEx | $18.0K | $7.0K | $27.0K | · | $12.0K | · | · | · | · | · | $2.4K | · | |
| Investing Cash Flow | $-3M | $-575.0K | $-1M | $-8M | $-3M | $-125.0K | $-302.0K | $-108.7K | $-2.6K | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | $1M | $1M | · | $50.0K | · | |
| Net Stock Activity | · | · | · | · | · | · | · | $1M | $1M | · | $50.0K | · | |
| Financing Cash Flow | $4M | $-616.0K | $634.0K | $4M | $8M | $10M | $461.0K | $3M | $2M | $1M | · | · | |
| Net Change in Cash | $2M | $-272.0K | $-316.0K | · | · | $8M | $-1M | $980.2K | $670.4K | $18.5K | $-59.8K | $-1M | |
| Taxes Paid | $24.1K | · | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $585.0K | $864.0K | $217.0K | · | · | · | · | · | · | · | $-1M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.6% | 35.8% | 35.6% | 33.1% | · | 81.9% | 81.6% | 61.5% | · | 34.2% | 69.8% | · | |
| Operating Margin | -30.9% | -18.1% | -13.2% | -19.1% | · | -1040.2% | -993.9% | -3466.4% | · | -10077.8% | -2412.9% | · | |
| Net Margin | -29.9% | -15.8% | -13.4% | -73.6% | · | -1720.7% | -1024.6% | -3916.0% | · | -4442.7% | -1059.5% | · | |
| Pretax Margin | -29.9% | -16.0% | -13.4% | -73.6% | · | -1720.7% | -1.0% | -3.9% | · | · | · | · | |
| EBITDA Margin | -30.9% | -18.1% | -13.2% | -19.1% | · | -1040.2% | -993.9% | -3466.4% | · | -10077.8% | -2412.9% | · | |
| ROA | -33.7% | -20.8% | -16.4% | -67.8% | 23.7% | -121.5% | -167.5% | -198.6% | -571.7% | -532.5% | -512.0% | · | |
| ROE | -38.6% | -37.3% | -27.8% | -107.5% | 16.7% | -67.6% | -1397.4% | -164.9% | 460.5% | 95.5% | 32.2% | · | |
| ROIC | -35.6% | -43.0% | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.8 | 1.5 | 1.5 | 1.7 | 22.2 | 21.4 | 0.4 | 3.7 | 0.6 | 0.0 | 0.0 | · | |
| Quick Ratio | 0.4 | 1.3 | 1.2 | 1.4 | 21.6 | 20.8 | 0.3 | 3.5 | 0.6 | 0.0 | 0.0 | · | |
| Debt / Equity | · | · | 0.0 | 0.0 | · | · | -8.9 | · | -0.3 | -0.1 | -0.0 | · | |
| Interest Coverage | · | · | · | · | · | · | · | 389.5 | -13.0 | -290.1 | -85.3 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.1 | 1.3 | 1.2 | 0.9 | · | 0.1 | 0.2 | 0.1 | · | 0.1 | 0.5 | · | |
| Inventory Turnover | 265.2 | 403.8 | 274.1 | 196.8 | · | 1.5 | 1.2 | 1.4 | · | 1.1 | 1.0 | · | |
| Receivables Turnover | 9.4 | 8.6 | 6.8 | 8.3 | · | 6.1 | 4.4 | 4.9 | · | · | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -32.3% | -4.4% | 29.3% | 2157.9% | 152.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -5.7% | 203.4% | 319.4% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 116.7% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $16M | $24M | $25M | $20M | $867.0K | $343.0K | $245.0K | $74.9K | · | $37.1K | $217.3K | $124.6K | |
| Net Income TTM | $-5M | $-4M | $-3M | $-14M | $4M | $-6M | $-3M | $-3M | $-3M | $-2M | $-2M | $-8M | |
| Market Cap | $8M | $14M | $11M | $10M | $23M | $20M | $390M | $1.12B | $723M | $46M | $747M | · | |
| Enterprise Value | · | · | $9M | $7M | · | · | $390M | · | $722M | $46M | $747M | · | |
| P/E | -1.5 | -3.7 | -3.2 | -0.7 | 6.5 | -2.4 | -3.0 | -365.8 | -96.4 | -22.9 | -266.0 | -40.0 | |
| P/S | 0.5 | 0.6 | 0.4 | 0.5 | 26.4 | 58.7 | 1591.2 | 14978.9 | · | 1236.5 | 3438.7 | · | |
| P/B | 0.7 | 1.4 | 0.9 | 0.8 | 1.1 | 2.4 | -5760.1 | 714.3 | -3753.5 | -35.9 | -344.6 | · | |
| P / Tangible Book | 1.4 | 16.6 | 51.5 | 3.4 | 1.1 | 2.5 | · | · | · | · | · | · | |
| P / Cash Flow | 13.0 | 16.5 | 46.5 | -4.1 | -7.0 | -8.8 | -246.8 | -471.9 | -772.0 | -34.1 | -499.6 | · | |
| P / FCF | 13.4 | 16.6 | 52.3 | · | · | · | · | · | · | · | -498.8 | · | |
| EV / EBITDA | · | · | -2.6 | -2.0 | · | · | -160.4 | · | -254.6 | -12.3 | -142.5 | · | |
| EV / FCF | · | · | 40.6 | · | · | · | · | · | · | · | -498.9 | · | |
| EV / Revenue | · | · | 0.3 | 0.4 | · | · | 1592.6 | · | · | 1237.7 | 3439.0 | · | |
| Earnings Yield | -64.9% | -27.2% | -31.2% | -146.6% | 15.4% | -41.1% | -33.5% | -0.27% | -1.0% | -4.4% | -0.38% | -2.5% |
Income Statement 14
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2M | $2M | $5M | $5M | $4M | $8M | $5M | $5M | $6M | $9M | $6M | $5M | $6M | $10M | $5M | $4M | |
| Cost of Revenue | $812.0K | $1M | $3M | $3M | $3M | $5M | $4M | $3M | $3M | $6M | $4M | $4M | $4M | $7M | $3M | $3M | |
| Gross Profit | $960.0K | $1M | $2M | $2M | $1M | $2M | $2M | $2M | $2M | $3M | $2M | $2M | $2M | $3M | $2M | $2M | |
| R&D Expense | · | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | $55.0K | $84.0K | $5.0K | $10.0K | $8.0K | $16.0K | $39.0K | $25.0K | |
| SG&A Expense | $1M | $1M | $669.0K | $716.0K | $856.0K | $1M | $778.0K | $894.0K | $1M | $989.0K | $1M | $836.0K | $1M | $2M | $2M | $3M | |
| Operating Expenses | $2M | $2M | $6M | $2M | $2M | $3M | $5M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | |
| Operating Income | $-767.0K | $-723.0K | $-3M | $-322.0K | $-593.0K | $-337.0K | $-3M | $-536.0K | $-647.0K | $69.0K | $-855.0K | $-1M | $-2M | $100.0K | $-875.0K | $-1M | |
| Other Non-op | $88.0K | $36.0K | $76.0K | $31.0K | $22.0K | $-164.0K | $446.0K | $190.0K | $94.0K | $-60.0K | · | · | $-2.0K | $554.0K | $25.0K | · | |
| Net Income | $-679.0K | $-687.0K | $-3M | $-291.0K | $-571.0K | $-501.0K | $-2M | $-346.0K | $-553.0K | $2.0K | $-930.0K | $-882.0K | $-2M | $108.0K | $-557.0K | $-13M | |
| EPS (Basic) | $-0.05 | $-0.06 | $-0.26 | $-0.02 | $-0.05 | $-0.06 | $-0.23 | $-0.03 | $-0.05 | $0.00 | $-0.09 | $-0.09 | $-0.17 | $0.05 | $-0.06 | $-1.50 | |
| EPS (Diluted) | $-0.05 | $-0.06 | $-0.26 | $-0.02 | $-0.05 | $-0.06 | $-0.23 | $-0.03 | $-0.05 | $0.00 | $-0.09 | $-0.09 | $-0.17 | $0.05 | $-0.06 | $-1.50 | |
| Shares (Basic) | 13,352,749 | -24,998,852 | 12,682,423 | 12,643,791 | 12,292,150 | -20,513,401 | 10,603,747 | 10,238,717 | 10,073,445 | -19,210,738 | 9,879,202 | 9,765,452 | 9,332,553 | -16,044,595 | 8,943,613 | 8,387,662 | |
| Shares (Diluted) | 13,352,749 | -24,998,852 | 12,682,423 | 12,643,791 | 12,292,150 | -20,513,401 | 10,603,747 | 10,238,717 | 10,073,445 | -19,210,738 | 9,879,202 | 9,765,452 | 9,332,553 | -16,044,595 | 8,943,613 | 8,387,662 | |
| EBITDA | $-767.0K | · | $-3M | $-322.0K | $-593.0K | · | $-3M | $-536.0K | $-647.0K | · | $-855.0K | $-1M | $-2M | · | $-875.0K | $-1M |
Balance Sheet 26
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | · | · | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | $4M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $93.0K | $94.0K | |
| Receivables | $818.0K | $857.0K | $1M | $1M | $955.0K | $3M | $1M | $1M | $1M | $3M | $1M | $1M | $2M | $4M | $1M | $2M | |
| Inventory | $31.0K | $37.0K | $32.0K | $41.0K | $47.0K | $39.0K | $19.0K | $23.0K | $32.0K | $38.0K | $42.0K | $47.0K | $54.0K | $81.0K | $141.0K | $59.0K | |
| Prepaid Expense | $208.0K | $154.0K | $339.0K | $335.0K | $322.0K | $131.0K | $205.0K | $210.0K | $261.0K | $254.0K | $302.0K | $308.0K | $367.0K | $333.0K | $190.0K | $234.0K | |
| Current Assets | $7M | $8M | $8M | $8M | $8M | $6M | $5M | $5M | $5M | $8M | $6M | $5M | $6M | $9M | $6M | $6M | |
| PP&E (Net) | $16.0K | $20.0K | $68.0K | $80.0K | $88.0K | $116.0K | $159.0K | $184.0K | $212.0K | $240.0K | $265.0K | $288.0K | $292.0K | $292.0K | $321.0K | $351.0K | |
| Goodwill | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $5M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $4M | |
| Intangibles | $2M | $2M | $2M | $5M | $5M | $5M | $6M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $6M | $7M | |
| Total Assets | $12M | $13M | $13M | $17M | $17M | $16M | $15M | $18M | $18M | $21M | $19M | $18M | $19M | $21M | $17M | $18M | |
| Accounts Payable | $532.0K | $745.0K | $978.0K | $2M | $1M | $3M | $2M | $1M | $1M | $3M | $1M | $1M | $2M | $4M | $1M | $1M | |
| Accrued Liabilities | $457.0K | $530.0K | $348.0K | $327.0K | $305.0K | $660.0K | $455.0K | $808.0K | $716.0K | $988.0K | $815.0K | $723.0K | $891.0K | $902.0K | $486.0K | $567.0K | |
| Short-term Debt | · | · | · | · | · | · | $500.0K | $500.0K | $500.0K | · | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | |
| Current Liabilities | $2M | $2M | $2M | $2M | $2M | $4M | $3M | $3M | $3M | $5M | $4M | $4M | $4M | $5M | $2M | $3M | |
| Capital Leases | · | · | $32.0K | $43.0K | $54.0K | $139.0K | $184.0K | $223.0K | $263.0K | $307.0K | $346.0K | $389.0K | $434.0K | $359.0K | $387.0K | · | |
| Total Liabilities | $2M | $2M | $2M | $3M | $2M | $6M | $5M | $5M | $6M | $8M | $7M | $6M | $6M | $7M | $4M | $5M | |
| Long-term Debt | · | · | · | · | · | · | $500.0K | $600.0K | $800.0K | · | $1M | $1M | $1M | $1M | $2M | $2M | |
| Total Debt | · | · | · | · | · | · | $500.0K | $500.0K | $500.0K | · | $500.0K | $500.0K | $500.0K | · | $500.0K | $500.0K | |
| Common Stock | $14.0K | $14.0K | $13.0K | $13.0K | $13.0K | $11.0K | $11.0K | $11.0K | $10.0K | $10.0K | $10.0K | $10.0K | $10.0K | $10.0K | $10.0K | $9.0K | |
| Paid-in Capital | $102M | $102M | $101M | $101M | $101M | $96M | $96M | $96M | $95M | $95M | $95M | $94M | $94M | $93M | $93M | $92M | |
| Retained Earnings | $-91M | $-91M | $-90M | $-87M | $-86M | $-86M | $-85M | $-83M | $-82M | $-82M | $-82M | $-81M | $-80M | $-78M | $-79M | $-78M | |
| Treasury Stock | $476.0K | $502.0K | $502.0K | $434.0K | $351.0K | $480.0K | $464.0K | $464.0K | $589.0K | $659.0K | $748.0K | $792.0K | $793.0K | $949.0K | $843.0K | $756.0K | |
| AOCI | · | · | · | · | · | $12.0K | $-86.0K | $-46.0K | $-66.0K | $-2.0K | $-75.0K | $-50.0K | $-6.0K | $-3.0K | · | · | |
| Stockholders' Equity | $10M | $11M | $11M | $14M | $15M | $10M | $10M | $12M | $12M | $13M | $12M | $12M | $13M | $14M | $13M | $14M | |
| Liabilities + Equity | $12M | $13M | $13M | $17M | $17M | $16M | $15M | $18M | $18M | $21M | $19M | $18M | $19M | $21M | $17M | $18M | |
| Shares Outstanding | 13,119,065 | 13,071,601 | 12,252,977 | 12,323,668 | 12,414,772 | 10,539,441 | 10,444,698 | 10,384,698 | 10,176,603 | 10,123,964 | 9,935,534 | 9,842,765 | 9,348,914 | 8,951,035 | 9,035,411 | 8,467,046 |
Cash Flow 9
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $132.0K | $131.0K | $281.0K | $286.0K | $286.0K | $307.0K | $306.0K | $300.0K | $299.0K | $299.0K | $295.0K | $258.0K | $282.0K | $266.0K | $261.0K | $208.0K | |
| Stock-based Comp | · | · | · | · | · | · | · | · | · | · | $5.0K | $19.0K | $22.0K | · | $31.0K | · | |
| Amort. of Intangibles | $129.0K | $127.0K | $271.0K | $274.0K | $274.0K | $280.0K | $277.0K | $271.0K | $269.0K | $269.0K | $266.0K | $255.0K | $240.0K | $211.0K | $248.0K | $187.0K | |
| Operating Cash Flow | $-711.0K | $54.0K | $243.0K | $710.0K | $-404.0K | $569.0K | $-10.0K | $372.0K | $-60.0K | $843.0K | $-136.0K | $-337.0K | $-126.0K | $117.0K | $-43.0K | $-2M | |
| CapEx | · | $11.0K | · | · | · | $0 | $2.0K | $3.0K | $2.0K | $3.0K | $0 | $11.0K | $13.0K | · | · | · | |
| Investing Cash Flow | $-109.0K | $-167.0K | $-2M | $-176.0K | $-156.0K | $-222.0K | $-162.0K | $-81.0K | $-110.0K | $-115.0K | $-222.0K | $-237.0K | $-621.0K | $-137.0K | $-116.0K | $-8M | |
| Financing Cash Flow | $-14.0K | $459.0K | $-69.0K | $-174.0K | $3M | $-178.0K | $-125.0K | $-207.0K | $-106.0K | $-643.0K | $669.0K | $185.0K | $423.0K | $-263.0K | $102.0K | $5M | |
| Net Change in Cash | $-834.0K | $346.0K | $-2M | $360.0K | $3M | $213.0K | $-290.0K | $82.0K | $-277.0K | $88.0K | $310.0K | $-388.0K | $-326.0K | · | $-57.0K | $-5M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | $-62.0K | · | · | · | $-139.0K | · | · | · |
Profitability 6
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.2% | · | 41.2% | 35.2% | 33.5% | · | 34.9% | 39.1% | 39.2% | · | 40.9% | 34.1% | 31.0% | · | 35.6% | 37.5% | |
| Operating Margin | -43.3% | · | -68.2% | -7.1% | -13.3% | · | -52.8% | -10.0% | -11.2% | · | -15.3% | -19.5% | -26.6% | · | -16.8% | -29.4% | |
| Net Margin | -38.3% | · | -66.7% | -6.4% | -12.8% | · | -44.6% | -6.5% | -9.6% | · | -16.6% | -16.5% | -27.9% | · | -10.7% | -279.2% | |
| EBITDA Margin | -43.3% | · | -68.2% | -7.1% | -13.3% | · | -52.8% | -10.0% | -11.2% | · | -15.3% | -19.5% | -26.6% | · | -16.8% | -29.4% | |
| ROA | -4.7% | · | -23.9% | -1.7% | -3.3% | · | -14.4% | -1.9% | -3.0% | · | -5.1% | -4.8% | -7.8% | · | -2.8% | -75.1% | |
| ROE | -5.4% | · | -31.4% | -2.2% | -4.2% | · | -21.9% | -2.8% | -4.4% | · | -7.4% | -6.8% | -9.5% | · | -3.1% | -88.1% |
Liquidity & Solvency 3
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.9 | · | 3.7 | 4.1 | 4.7 | · | 1.7 | 1.7 | 1.9 | · | 1.5 | 1.4 | 1.6 | · | 2.6 | 2.5 | |
| Quick Ratio | 0.5 | · | 0.5 | 0.6 | 0.6 | · | 1.4 | 1.4 | 1.4 | · | 1.2 | 1.1 | 1.3 | · | 2.1 | 2.2 | |
| Debt / Equity | · | · | · | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 |
Efficiency 3
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | 0.4 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | |
| Inventory Turnover | 20.8 | · | 116.1 | 91.5 | 75.1 | · | 116.1 | 93.2 | 81.4 | · | 36.2 | 66.3 | 59.2 | · | 35.6 | 49.8 | |
| Receivables Turnover | 2.0 | · | 4.3 | 3.9 | 4.1 | · | 4.2 | 4.3 | 4.0 | · | 4.4 | 3.5 | 6.1 | · | 6.9 | 4.8 |
Valuation (TTM) 14
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $16M | · | $19M | $20M | $21M | · | $22M | $22M | $22M | · | $22M | $21M | $16M | · | $10M | $5M | |
| Net Income TTM | $-5M | · | $-7M | $-4M | $-4M | · | $-4M | $-3M | $-4M | · | $-4M | $-16M | $-16M | · | $-7M | $-8M | |
| Market Cap | $11M | · | $11M | $9M | $8M | · | $15M | $15M | $14M | · | $12M | $14M | $18M | · | $12M | $17M | |
| Enterprise Value | · | · | · | · | · | · | $13M | $12M | $12M | · | $9M | $11M | $15M | · | $8M | $13M | |
| P/E | -2.1 | · | -1.6 | -2.3 | -1.9 | · | -3.6 | -5.4 | -3.5 | · | -2.9 | -0.8 | -1.0 | · | -1.6 | -2.1 | |
| P/S | 0.7 | · | 0.6 | 0.5 | 0.4 | · | 0.7 | 0.7 | 0.6 | · | 0.5 | 0.7 | 1.2 | · | 1.1 | 3.3 | |
| P/B | 1.0 | · | 1.0 | 0.6 | 0.6 | · | 1.5 | 1.2 | 1.1 | · | 1.0 | 1.1 | 1.4 | · | 0.9 | 1.2 | |
| P / Tangible Book | 2.1 | · | 1.9 | 1.8 | 1.6 | · | 19.4 | 38.1 | 40.2 | · | · | 452.8 | 35.1 | · | 4.3 | 5.6 | |
| P / Cash Flow | -14.9 | · | · | · | -20.9 | · | · | · | -236.6 | · | · | · | -142.5 | · | · | · | |
| P / FCF | · | · | · | · | · | · | · | · | -229.0 | · | · | · | -129.1 | · | · | · | |
| EV / EBITDA | · | · | · | · | · | · | -4.5 | -22.8 | -18.5 | · | -10.7 | -11.0 | -10.2 | · | -9.5 | -10.0 | |
| EV / FCF | · | · | · | · | · | · | · | · | -192.6 | · | · | · | -110.5 | · | · | · | |
| EV / Revenue | · | · | · | · | · | · | 0.6 | 0.6 | 0.5 | · | 0.4 | 0.5 | 1.0 | · | 0.8 | 2.6 | |
| Earnings Yield | -46.9% | · | -63.1% | -43.8% | -52.9% | · | -28.0% | -18.4% | -28.7% | · | -35.0% | -131.9% | -100.0% | · | -62.5% | -46.9% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $16M | $24M | $25M | $20M | $867.0K |
| Gross Margin % | 38.6% | 35.8% | 35.6% | 33.1% | — |
| Operating Margin % | -30.9% | -18.1% | -13.2% | -19.1% | — |
| Net Income | $-5M | $-4M | $-3M | $-14M | $4M |
| Diluted EPS | $-0.39 | $-0.37 | $-0.35 | $-1.70 | $0.49 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.0 | 0.0 | — |
| Current Ratio | 3.8 | 1.5 | 1.5 | 1.7 | 22.2 |
| Quick Ratio | 0.4 | 1.3 | 1.2 | 1.4 | 21.6 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $585.0K | $864.0K | $217.0K | — | — |
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