OpenWorld — Third Quarter 2026 Earnings Summary

Financial Performance:

• Expected Q3 2026 revenue ranges from $6.9 million to $7.2 million, reflecting results primarily reported as OpenWorld following the reverse takeover transaction.
• Gross margin is estimated between 80% and 82%.
• GAAP net loss is approximately $10.0 million, inclusive of $11.9 million in non-recurring stock-based compensation and merger-related transaction fees.
• Adjusted EBITDA (non-GAAP) is projected between $1.7 million and $2.0 million.
• Reconciliation of net loss to Adjusted EBITDA includes $0.1 million in interest expense, $0.0 million in income tax expense, $0.0 million in depreciation and amortization, $5.9 million in nonrecurring stock-based compensation, and $6.0 million in merger-related transaction fees.
• No year-over-year comparisons are provided as the results reflect the post-RTO entity with no prior period data included in this preliminary release.

Guidance and Future Outlook:

• Management expects consistent significant growth and adoption of real-world assets (RWAs) globally.
• Revenue from RWAs ramped to current levels within three quarters from zero at the start of the year.
• The company anticipates building momentum based on its high-margin profile and positive Adjusted EBITDA.
• Final third-quarter 2026 results and a conference call are scheduled for November 12, 2026.

Business Segments and Product Lines:

• The company operates through its OpenWorld Enterprise platform, providing financial structuring and blockchain infrastructure for the issuance and distribution of tokenized real-world assets to institutional and retail investors.
• The business model is described as scalable, with the Q3 results reflecting the transition to primarily OpenWorld operations.

Market and Competitive Landscape:

• The press release highlights the company's position to benefit from the global adoption of RWAs.
• No specific market share data, competitor names, or detailed market trend analysis is provided.

Risks and Challenges:

• The financial results are preliminary, unaudited, and based on management estimates; actual results may differ materially from these estimates.
• Risks include the completion of quarter-end closing procedures and the integration of businesses following the RTO with VerifyMe, Inc.
• Forward-looking statements are subject to uncertainties, risks, and changes in circumstances, including market conditions and factors detailed in SEC filings.
• The independent registered public accounting firm has not audited, reviewed, or performed procedures on these preliminary results.

Management Commentary and Tone:

• Matthew Shaw, Chairman and CEO, stated that despite being in early stages of scaling, the results demonstrate the strength of the business model.
• Shaw expressed confidence in the company's strategies and its ability to benefit from RWA growth.
• The tone is optimistic regarding the scalability of the business model and the early progress made since the RTO.

Other Key Points:

• Gerard Hernandez was appointed Chief Financial Officer, effective October 23, 2026, overseeing finance, accounting, reporting, and investor relations.
• The reverse takeover transaction (RTO) with VerifyMe, Inc. was completed on September 30, 2026, with the consolidated balance sheet reflecting the combined entities.
• The $10.0 million net loss includes $11.9 million in non-recurring costs, specifically $5.9 million in stock-based compensation and $6.0 million in merger-related transaction fees.
• Mr. Hernandez previously served as Chief Accounting Officer and co-founded OpenWorld, bringing over 15 years of financial leadership experience in technology, blockchain, and healthcare.