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Verimatrix SA
(VMX)
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Rating:44Neutral
Price Target:
€0.21
▼(-16.80% Downside)
Action:Reiterated
Date:05/28/26
The score is held down primarily by weak financial performance (declining revenue, sustained operating losses, very large 2025 net loss), rising balance-sheet leverage, and negative recent cash flow. Technicals are a partial offset with strong momentum, but overbought indicators raise pullback risk, and valuation signals are constrained by negative earnings and no provided dividend yield.
Positive Factors
High gross margins (~63%)
Sustained ~63% gross margins reflect a software-centric, low-variable-cost model that supports strong unit economics. Over the medium term, these margins provide room to absorb SG&A and R&D while enabling operating leverage if revenue declines are stabilized and recurring sales resume.
Negative Factors
Revenue declining (2025: -8.5%)
Multi‑year top‑line decline reduces ability to scale fixed R&D and sales investments and undermines operating leverage. If revenue contraction persists, the company may struggle to convert healthy gross margins into sustainable profits and to fund strategic initiatives internally.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins (~63%)
Sustained ~63% gross margins reflect a software-centric, low-variable-cost model that supports strong unit economics. Over the medium term, these margins provide room to absorb SG&A and R&D while enabling operating leverage if revenue declines are stabilized and recurring sales resume.
Read all positive factors
Verimatrix SA (VMX) vs. iShares MSCI France ETF (EWQ)
Market Cap
€21.17M
Dividend YieldN/A
Average Volume (3M)66.93K
Price to Earnings (P/E)―
Beta (1Y)0.86
Revenue Growth-26.54%
EPS Growth79.41%
CountryFR
Employees237
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)-1.31
Shares Outstanding87,549,140
10 Day Avg. Volume51,739
30 Day Avg. Volume66,927
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.61
Price to Sales (P/S)0.45
P/FCF Ratio-28.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.09
Revenue Forecast (FY)€40.95M
Verimatrix SA Business Overview & Revenue Model
Company Description
Verimatrix S.A. provides global security solutions aimed at safeguarding digital content, software applications, and various electronic devices. The company's protective technologies serve a diverse range of sectors, including the automotive indus...
How the Company Makes Money
Verimatrix makes money primarily by selling and licensing cybersecurity software and related services. Its revenue model typically includes (1) recurring software revenues from licenses and subscriptions for its security products (e.g., content an...
Verimatrix SA Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
34
Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.26M | 46.50M | 57.20M | 61.63M | 61.01M | 88.47M |
| Gross Profit | 25.84M | 29.50M | 38.90M | 42.54M | 41.84M | 64.99M |
| EBITDA | -2.77M | -69.23M | -4.80M | 96.00K | -1.24M | 14.31M |
| Net Income | -13.60M | -78.60M | -10.30M | -14.29M | -17.61M | 3.68M |
Balance Sheet | ||||||
| Total Assets | 79.88M | 91.41M | 171.90M | 191.87M | 209.91M | 239.22M |
| Cash, Cash Equivalents and Short-Term Investments | 5.20M | 7.10M | 11.00M | 22.63M | 30.05M | 45.27M |
| Total Debt | 25.79M | 32.10M | 32.27M | 32.50M | 43.50M | 56.80M |
| Total Liabilities | 47.89M | 56.91M | 60.40M | 70.10M | 74.04M | 87.70M |
| Stockholders Equity | 31.99M | 34.60M | 111.50M | 121.77M | 135.87M | 151.53M |
Cash Flow | ||||||
| Free Cash Flow | 3.05M | -728.54K | -3.70M | -3.60M | 2.67M | 12.04M |
| Operating Cash Flow | 3.20M | -312.23K | -1.60M | -792.00K | 2.90M | 12.69M |
| Investing Cash Flow | 3.51M | -2.08M | -2.10M | -2.82M | -3.45M | 509.00K |
| Financing Cash Flow | -6.29M | -1.46M | -8.10M | -3.67M | -14.65M | -16.47M |
Verimatrix SA Technical Analysis
Positive
0.25
Price Trends
0.22
Positive
0.19
Positive
0.19
Positive
Market Momentum
<0.01
Negative
74.36
Negative
98.09
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:VMX, the sentiment is Positive. The current price of 0.25 is above the 20-day moving average (MA) of 0.21, above the 50-day MA of 0.22, and above the 200-day MA of 0.19, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 74.36 is Negative, neither overbought nor oversold. The STOCH value of 98.09 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:VMX.
Verimatrix SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | €33.46M | 5.58 | 14.57% | ― | 0.65% | -20.10% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | €2.25B | 399.47 | 19.17% | ― | 5.84% | -107.83% | |
49 Neutral | €153.22M | -174.23 | -10.02% | ― | 19.15% | 79.43% | |
46 Neutral | €680.97M | -0.02 | -142.62% | ― | -18.15% | 79.73% | |
44 Neutral | €21.17M | -0.21 | -47.32% | ― | -26.54% | 79.41% |
* General Sector Average
FR:VMX
Verimatrix SA
0.25
0.04
20.77%
FR:WLN
Worldline
13.46
-19.00
-58.54%
FR:ALHYP
Hipay Group SA
5.40
-4.70
-46.53%
FR:OVH
OVH Groupe SAS
15.43
5.31
52.47%
FR:ALLIX
Wallix Group SA
22.45
-0.95
-4.06%
FR:MLIFC
Infoclip SA
22.14
20.14
1007.00%
Verimatrix SA Corporate Events
Verimatrix Refocuses on Anti-Piracy as Subscriptions and Debt Overhaul Bolster Outlook
Jul 24, 2026
Verimatrix reported first-half 2026 revenue of $21.3 million from its refocused Anti-Piracy activity, down 11% year-on-year due to a tough comparison with a large 2025 license deal, but marked its third consecutive quarter of sequential growth. Su...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.