Company did not provide specific guidance for future quarters or the full year
Overview
US logistics and brand protection provider's Q2 revenue fell 58% yr/yr due to lost carrier partner
Gross margin improved to 54% from 35% last yr, driven by service mix change
Company posted higher net loss, mainly due to increased legal expenses for proposed merger
Key details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$1.90 mln
Q2 Loss Per Share
$0.04
Q2 Net Loss
$500,000
Q2 Adjusted EBITDA
$0
Q2 Gross Margin
54.00%
Result drivers
Carrier partner loss - Revenue decline was primarily due to the loss of ProActive services revenue after the September 2025 termination of the prior carrier partner agreement.
Service mix shift - Gross margin improvement was attributed to the mix of ProActive and Premium services provided during the quarter.
VRME•
