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Side-by-side financial comparison of CSP INC (CSPI) and VerifyMe, Inc. (VRME). Click either name above to swap in a different company.
CSP INC is the larger business by last-quarter revenue ($12.0M vs $5.0M, roughly 2.4× VerifyMe, Inc.). CSP INC runs the higher net margin — 0.8% vs -66.7%, a 67.4% gap on every dollar of revenue. On growth, VerifyMe, Inc. posted the faster year-over-year revenue change (-7.4% vs -23.2%). Over the past eight quarters, VerifyMe, Inc.'s revenue compounded faster (-5.2% CAGR vs -6.3%).
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
VerifyMe, Inc. is a technology provider specializing in identity verification, anti-counterfeiting, and brand protection solutions. Its offerings include secure authentication tools, supply chain traceability systems, and customer engagement platforms, serving consumer goods, pharmaceutical, and retail sectors across North America and select global markets.
CSPI vs VRME — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $5.0M |
| Net Profit | $91.0K | $-3.4M |
| Gross Margin | 39.3% | 41.2% |
| Operating Margin | -0.9% | -68.2% |
| Net Margin | 0.8% | -66.7% |
| Revenue YoY | -23.2% | -7.4% |
| Net Profit YoY | -80.7% | -38.4% |
| EPS (diluted) | $0.01 | $-0.26 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $12.0M | — | ||
| Q3 25 | $14.5M | $5.0M | ||
| Q2 25 | $15.4M | $4.5M | ||
| Q1 25 | $13.1M | $4.5M | ||
| Q4 24 | $15.7M | — | ||
| Q3 24 | $13.0M | $5.4M | ||
| Q2 24 | $13.1M | $5.4M | ||
| Q1 24 | $13.7M | $5.8M |
| Q4 25 | $91.0K | — | ||
| Q3 25 | $-191.0K | $-3.4M | ||
| Q2 25 | $-264.0K | $-291.0K | ||
| Q1 25 | $-108.0K | $-571.0K | ||
| Q4 24 | $472.0K | — | ||
| Q3 24 | $-1.7M | $-2.4M | ||
| Q2 24 | $-185.0K | $-346.0K | ||
| Q1 24 | $1.6M | $-553.0K |
| Q4 25 | 39.3% | — | ||
| Q3 25 | 36.6% | 41.2% | ||
| Q2 25 | 28.8% | 35.2% | ||
| Q1 25 | 32.0% | 33.4% | ||
| Q4 24 | 29.1% | — | ||
| Q3 24 | 28.4% | 34.9% | ||
| Q2 24 | 35.0% | 39.1% | ||
| Q1 24 | 47.3% | 39.2% |
| Q4 25 | -0.9% | — | ||
| Q3 25 | -3.7% | -68.2% | ||
| Q2 25 | -7.9% | -7.1% | ||
| Q1 25 | -7.6% | -13.3% | ||
| Q4 24 | -2.3% | — | ||
| Q3 24 | -15.7% | -52.8% | ||
| Q2 24 | -5.5% | -10.0% | ||
| Q1 24 | 9.0% | -11.2% |
| Q4 25 | 0.8% | — | ||
| Q3 25 | -1.3% | -66.7% | ||
| Q2 25 | -1.7% | -6.4% | ||
| Q1 25 | -0.8% | -12.8% | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | -12.7% | -44.6% | ||
| Q2 24 | -1.4% | -6.5% | ||
| Q1 24 | 11.6% | -9.6% |
| Q4 25 | $0.01 | — | ||
| Q3 25 | $-0.02 | $-0.26 | ||
| Q2 25 | $-0.03 | $-0.02 | ||
| Q1 25 | $-0.01 | $-0.05 | ||
| Q4 24 | $0.05 | — | ||
| Q3 24 | $-0.17 | $-0.23 | ||
| Q2 24 | $-0.02 | $-0.03 | ||
| Q1 24 | $0.16 | $-0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.9M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $44.8M | $11.1M |
| Total Assets | $69.2M | $13.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | — | ||
| Q3 25 | $27.4M | — | ||
| Q2 25 | $26.3M | — | ||
| Q1 25 | $29.5M | — | ||
| Q4 24 | $30.7M | — | ||
| Q3 24 | $30.6M | $2.6M | ||
| Q2 24 | $28.9M | $2.9M | ||
| Q1 24 | $27.1M | $2.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $500.0K | ||
| Q2 24 | — | $600.0K | ||
| Q1 24 | — | $800.0K |
| Q4 25 | $44.8M | — | ||
| Q3 25 | $44.6M | $11.1M | ||
| Q2 25 | $47.5M | $14.4M | ||
| Q1 25 | $47.5M | $14.6M | ||
| Q4 24 | $47.5M | — | ||
| Q3 24 | $47.3M | $10.3M | ||
| Q2 24 | $48.1M | $12.3M | ||
| Q1 24 | $48.2M | $12.4M |
| Q4 25 | $69.2M | — | ||
| Q3 25 | $71.2M | $13.3M | ||
| Q2 25 | $66.8M | $17.2M | ||
| Q1 25 | $67.1M | $17.1M | ||
| Q4 24 | $67.5M | — | ||
| Q3 24 | $69.4M | $14.8M | ||
| Q2 24 | $66.8M | $17.5M | ||
| Q1 24 | $64.2M | $17.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.05× | ||
| Q2 24 | — | 0.05× | ||
| Q1 24 | — | 0.06× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.9M | $243.0K |
| Free Cash FlowOCF − Capex | $-3.0M | — |
| FCF MarginFCF / Revenue | -25.1% | — |
| Capex IntensityCapex / Revenue | 0.9% | — |
| Cash ConversionOCF / Net Profit | -32.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | — | ||
| Q3 25 | $1.9M | $243.0K | ||
| Q2 25 | $-3.3M | $710.0K | ||
| Q1 25 | $1.9M | $-404.0K | ||
| Q4 24 | $1.7M | — | ||
| Q3 24 | $-1.5M | $-10.0K | ||
| Q2 24 | $2.4M | $372.0K | ||
| Q1 24 | $1.7M | $-60.0K |
| Q4 25 | $-3.0M | — | ||
| Q3 25 | $1.7M | — | ||
| Q2 25 | $-3.3M | — | ||
| Q1 25 | $1.9M | — | ||
| Q4 24 | $1.7M | — | ||
| Q3 24 | $-1.5M | $-12.0K | ||
| Q2 24 | $2.4M | $369.0K | ||
| Q1 24 | $1.6M | $-62.0K |
| Q4 25 | -25.1% | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | -21.7% | — | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 10.8% | — | ||
| Q3 24 | -11.7% | -0.2% | ||
| Q2 24 | 17.9% | 6.9% | ||
| Q1 24 | 11.9% | -1.1% |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.1% | 0.0% | ||
| Q2 24 | 0.3% | 0.1% | ||
| Q1 24 | 0.1% | 0.0% |
| Q4 25 | -32.04× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.69× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
VRME
| Proactive Services | $4.2M | 83% |
| Other | $869.0K | 17% |
