VerifyMe, Inc. (NASDAQ:VRME) Q3 2023 Earnings Conference Call November 8, 2023 11:00 AM ET

Company Participants

Nancy Meyers - Chief Financial Officer

Adam Stedham - President & Chief Executive Officer

Conference Call Participants

Jack Vander Aarde - Maxim Group

Jeff Porter - Porter Capital

Operator

Good morning, everyone and welcome to the VerifyMe Third Quarter 2023 Financial Results Conference Call. [Operator Instructions] Please also note that this event is being recorded.

And at this time, I would like to turn the floor over to Nancy Meyers, CFO. Ma’am, please go ahead.

Nancy Meyers

Thank you and good morning, everyone for joining us today for our earnings call presentation. On the call today, I'm joined by Adam Stedham, CEO and President, who will give an operations and strategic update. Following our management presentation, we will have a Q&A session.

I would like to bring your attention to the note on forward-looking statements on Slide 3. Today's presentation and the answers to questions include forward-looking statements. It should be understood that actual results could differ materially from those projected due to a number of factors, including those described under the forward-looking statements caption and on the Risk Factors of the company's annual report on Form 10-K and quarterly reports on Form 10-Q.

I will now turn the call over to Adam Stedham for some opening remarks.

Adam Stedham

Thanks, Nancy. Well, welcome, everybody. Happy to have an opportunity to discuss our third quarter with you. I'm pleased with our organic revenue growth and gross margin improvement in the quarter. More importantly, I'm excited about the success we're having in implementing our strategy. So my second quarterly call since becoming the CEO of VerifyMe, during that first call, we described our new structure and strategy. In addition, we stated that we anticipated scheduling a more detailed explanation of our overall strategy to take advantage of the opportunity in front of us. Currently, we anticipate having that call towards the middle of January.

So during the call today, I'll discuss the overall business outlook, our capital position, and then I'll provide an update on each of the operating segments. After that, Nancy will provide a more detailed third quarter financial overview. So as I look out for the business and as I think about the outlook of the business, I reiterate our expectations for 2023 revenues of approximately $26 million and a positive adjusted EBITDA. In addition, I expect double-digit organic growth in 2024.