NEW YORK, NY / ACCESS Newswire / November 4, 2025 / Europe’s green economy just got its first real ledger. Not the kind filled with estimates, pledges, or recycled buzzwords, but one written in chemistry, code, and truth. In Valladolid, Spain, SMX (NASDAQ:SMX) and CARTIF have plans to team up to create something far more powerful than another sustainability initiative. They’re intent on minting the next global currency: proof.
This partnership won’t be theoretical: it’s infrastructure. CARTIF, one of Europe’s most respected applied research centers, is evaluating SMX’s molecular “physical-to-digital” technology for direct use in the pilot plants and innovation hubs that shape Spain’s Castilla y León region’s €12.7 billion industrial base. Together, they’re taking the circular economy off the page and into the factory.
Every manufacturer talks about transparency. Few can actually prove it. SMX makes that possible. Its molecular markers attach invisibly to materials at the molecular level, turning plastics, computer hardware, metals, and even liquids into their own witnesses. The data moves with the material, telling its complete life story from production to reuse. No QR codes to fade, no forged certificates. Just truth, secured in chemistry and written to the blockchain.
A New Proving Ground
For CARTIF, the implications are enormous. The center’s research portfolio spans packaging, renewables, construction, automotive, and critical materials. Integrating SMX’s platform means every test, trial, and prototype can now generate real circular data-proof that feeds directly into Europe’s most pressing ESG mandates. From lab to legislation, the results can finally be verified, quantified, and monetized.
That last part matters most. The world doesn’t just need sustainability; it needs sustainability that pays its own way. Proof changes everything. Once circular performance is measured with precision, it can be financed, insured, and traded. SMX’s data can unlock sustainability-linked loans, attract impact investors, and certify recycled content with forensic precision. Environmental integrity becomes a balance-sheet advantage. A verified molecule can be as valuable as a minted coin.
For Europe’s industrial heartland, this is a competitive reset. The continent’s next growth cycle will belong to the companies that can show, not tell. A factory that can prove its recycled content can have lower borrowing costs. A brand that can trace its materials can command higher market trust. A region that can guarantee transparency will attract more capital than one that can only promise it. Valladolid is poised to lead that charge.
A Mission Aligned with Global Intentions
CARTIF’s Deputy General Manager summed it up clearly: “Our mission is to deploy technologies that help our stakeholders meet sustainability goals. SMX’s platform offers exactly the kind of breakthrough capability our clients need to prove and improve circular performance.” Those words mark the divide between two economies-one built on statements, the other on substance.
The SMX-CARTIF partnership signals a shift from compliance to consequence. Instead of meeting minimum standards, companies can now compete on the quality of their proof. Transparency becomes a form of performance, a quantifiable strength that builds both reputation and revenue. In a sense, SMX’s molecular markers have turned trust itself into a tradable asset.
The ripple effect will be hard to overstate. As more sectors adopt molecular tracking-automotive, renewable energy, electronics, construction, and packaging, among others-a network effect begins to emerge. A verified input in Spain could be part of a verified product in Germany and resold in France with full traceability intact. Every link in the chain adds strength to the system. Proof doesn’t weaken when shared; it compounds.
Europe’s Moment to Prove Its Mission is Real
This is the moment Europe’s sustainability narrative becomes measurable. The Green Deal no longer reads like a regulation-it reads like an opportunity. With SMX’s technology embedded inside CARTIF’s ecosystem, Spain isn’t just following policy. It’s defining practice. The continent’s circular-economy intentions now have a real operating system. One that can calculate, confirm, and capitalize on every ounce of verified material that moves through it.
The world once built its wealth on extraction. Now it’s shifting toward regeneration. The difference between those two models is proof: proof that a resource can return, that waste can work again, that every molecule has value left in it. SMX and CARTIF have given Europe the tools to make that shift permanent.
Valladolid may not yet be a household name, but soon it can be known as the birthplace of something bigger than sustainability. It’s where the physical world finally found its digital reflection. And, as importantly, it’s where EU materials gained their own identity, and where circularity became a currency.
About SMX
As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intends,” “may,” “will,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: matters relating to the Company’s fight against abusive and possibly illegal trading tactics against the Company’s stock; successful launch and implementation of SMX’s joint projects with manufacturers and other supply chain participants of gold, steel, rubber and other materials; changes in SMX’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; SMX’s ability to develop and launch new products and services, including its planned Plastic Cycle Token; SMX’s ability to successfully and efficiently integrate future expansion plans and opportunities; SMX’s ability to grow its business in a cost-effective manner; SMX’s product development timeline and estimated research and development costs; the implementation, market acceptance and success of SMX’s business model; developments and projections relating to SMX’s competitors and industry; and SMX’s approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company’s shares on Nasdaq; changes in applicable laws or regulations; any lingering effects of the COVID-19 pandemic on SMX’s business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators are unable to successfully develop and commercialize SMX’s products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in SMX’s filings from time to time with the Securities and Exchange Commission.
LAFAYETTE, LA / ACCESS Newswire / November 5, 2025 / Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD), an in-home clinical care provider of post-acute respiratory healthcare equipment and services in the United States, announced today that it has reported its financial results for the three and nine months ended September 30, 2025.
Operational highlights (all dollar amounts are USD):
Net revenues for the quarter ended September 30, 2025 were $71.9 million, setting a Company record, representing an increase of $13.9 million, or 24.0%, over net revenues reported for the comparable quarter ended September 30, 2024.
Net income attributable to Viemed for the quarter ended September 30, 2025 totaled $3.5 million, or $0.09 per diluted share.
Adjusted EBITDA for the quarter ended September 30, 2025 totaled $16.1 million, a 15.5% increase as compared to the quarter ended September 30, 2024.
Net cash provided by operating activities totaled $18.4 million for the quarter and $48.5 million for the trailing twelve months ended September 30, 2025. Free cash flow totaled $12.4 million for the quarter and $23.3 million for the trailing twelve months ended September 30, 2025.
On July 1, 2025, Viemed closed on the strategic acquisition of Lehan’s Medical Equipment (“Lehan”). The results of Lehan’s operations have been included in the consolidated financial statements since the date of acquisition and were immediately accretive to net income and earnings per share.
During the third quarter of 2025, the Company repurchased and cancelled 1,706,380 common shares under its share repurchase program at a cost of $11.4 million, representing an average buyback price of $6.68 per share.
The Company increased its ventilator patient count to 12,372 as of September 30, 2025, an increase of 8.8% over September 30, 2024, and a 1.8% sequential increase from June 30, 2025.
The Company increased its PAP therapy patient count to 31,891 as of September 30, 2025, an increase of 63.7% over September 30, 2024, and a 21.4% sequential increase from June 30, 2025. The Company’s sleep resupply patient count was 33,518 as of September 30, 2025, an increase of 51.4% over September 30, 2024, and a 32.8% sequential increase from June 30, 2025.
As of September 30, 2025, the Company maintains a strong cash balance of $11.1 million and an overall working capital balance of $5.8 million. Long term debt as of September 30, 2025 amounted to $19.6 million and the Company has $38 million available under existing credit facilities.
Full Year 2025 Guidance (all dollar amounts are USD):
The Company is updating its financial guidance for the year ending December 31, 2025:
Net Revenue: Now expected to be in the range of $271 million to $273 million, compared to the previous guidance of $271 million to $277 million.
Adjusted EBITDA: Now expected to be in the range of $60 million to $62 million, compared to the previous guidance of $59 million to $62 million.
The narrowing of the range primarily reflects the passage of time and increased visibility into the remainder of the year, as the forecast period shortens. This outlook excludes the impact of any potential future acquisitions or other strategic transactions. For additional information regarding non-GAAP financial measures, please refer to the “Use of Non-GAAP Financial Information and Financial Guidance” section below.
Casey Hoyt, Viemed’s CEO, commented, “We delivered another outstanding quarter marked by strong execution and sustained expansion of our patient base across every major service line. Our disciplined approach to capital deployment was demonstrated through the full completion of our 2025 share repurchase program, while the acquisition of Lehan’s Medical Equipment further enhanced our market presence and diversified our service capabilities. Both initiatives were accretive to earnings per share and reflect our unwavering commitment to creating long-term shareholder value while improving patient outcomes across the communities we serve.”
“In addition, our strong liquidity and consistent free cash flow generation provide the flexibility to pursue strategic growth opportunities and return capital to shareholders, while preserving the financial strength that underpins our long-term success.”
Conference Call Details
The Company will host a conference call to discuss third quarter results on Thursday, November 6, 2025, at 11:00 a.m. ET.
Interested parties may participate in the call by dialing:
Following the conclusion of the call, an audio recording and transcript of the call can be accessed on the Company’s website.
ABOUT VIEMED HEALTHCARE, INC.
Viemed is an in-home clinical care provider of post-acute respiratory healthcare equipment and services in the United States, including non-invasive ventilators (NIV), sleep therapy, staffing, and other complementary products and services. Viemed focuses on efficient and effective in-home treatment with clinical practitioners providing therapy, education and counseling to patients in their homes using high-touch and high-tech services. Visit our website at www.viemed.com.
Certain statements contained in this press release may constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or “forward-looking information” as such term is defined in applicable Canadian securities legislation (collectively, “forward-looking statements”). Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “potential”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “projects”, or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “will”, “should”, “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. All statements other than statements of historical fact, including those that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance, including the Company’s net revenue and Adjusted EBITDA guidance for 2025, the anticipated synergies and other benefits of the acquisition of Lehan’s Medical Equipment, future capital allocation priorities, liquidity position, free cash flow generation, and strategic growth opportunities, are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: the general business, market and economic conditions in the regions in which we operate; significant capital requirements and operating risks that we may be subject to; our ability to implement business strategies and pursue business opportunities; volatility in the market price of our common shares; the state of the capital markets; the availability of funds and resources to pursue operations; inflation; reductions in reimbursement rates and audits of reimbursement claims by various governmental and private payor entities; dependence on few payors; possible new drug discoveries; dependence on key suppliers; granting of permits and licenses in a highly regulated business; competition; disruptions in or attacks (including cyber-attacks) on our information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which we are exposed; difficulty integrating newly acquired businesses; the impact of new and changes to, or application of, current laws and regulations; the overall difficult litigation and regulatory environment; increased competition; increased funding costs and market volatility due to market illiquidity and competition for funding; critical accounting estimates and changes to accounting standards, policies, and methods used by us; and the occurrence of natural and unnatural catastrophic events or health epidemics or concerns, and claims resulting from such events or concerns, as well as other general economic, market and business conditions; and other factors beyond our control; as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and with the securities regulatory authorities in certain provinces of Canada available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
Use of Non-GAAP Financial Information and Financial Guidance
This press release includes references to financial measures that are calculated and presented using methodologies other than those in accordance with generally accepted accounting principles in the United States (“GAAP”), including Adjusted EBITDA and free cash flow. Any non-GAAP financial measures presented herein are intended to supplement, and not to be considered superior to or as a substitute for, the Company’s consolidated financial statements prepared in accordance with GAAP. These non-GAAP financial measures exclude significant expense and income items required by GAAP, and are subject to inherent limitations, including the exercise of judgment by management regarding which items to exclude or include. Non-GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies. The reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in the tables accompanying this release.
This press release contains non-GAAP financial guidance. There is no reliable or reasonably estimable comparable GAAP measure for the Company’s non-GAAP financial guidance because the Company is not able to reliably predict the impact of certain items that typically have one or more of the following characteristics: highly variable, difficult to project, unusual in nature, significant to the results of a particular period or not indicative of future operating results. Similar charges or gains were recognized in prior periods and will likely reoccur in future periods. As a result, reconciliation of the non-GAAP financial guidance to the most directly comparable GAAP measure is not available without unreasonable effort. In addition, the Company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. The variability of the specified items may have a significant and unpredictable impact on the Company’s future GAAP results. The Company’s financial guidance in this press release excludes the impact of potential future strategic acquisitions and any items that have not yet been identified or quantified. This guidance is subject to risks and uncertainties inherent in all forward-looking statements, as outlined above.
VIEMED HEALTHCARE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Expressed in thousands of U.S. Dollars, except share amounts) (Unaudited)
At
September 30, 2025
At
December 31, 2024
ASSETS
Current assets
Cash and cash equivalents
$
11,123
$
17,540
Accounts receivable, net
27,414
24,911
Inventory
5,269
4,320
Income tax receivable
1,913
–
Prepaid expenses and other assets
4,265
6,109
Total current assets
$
49,984
$
52,880
Long-term assets
Property and equipment, net
80,512
76,279
Finance lease right-of-use assets
–
50
Operating lease right-of-use assets
3,589
2,831
Equity investments
2,794
2,794
Deferred tax asset
5,669
8,398
Identifiable intangibles, net
1,348
848
Goodwill
58,464
32,989
Total long-term assets
$
152,376
$
124,189
TOTAL ASSETS
$
202,360
$
177,069
LIABILITIES
Current liabilities
Trade payables
$
8,670
$
5,322
Deferred revenue
7,810
6,694
Income taxes payable
–
3,883
Accrued liabilities
25,007
20,157
Finance lease liabilities, current portion
–
50
Operating lease liabilities, current portion
1,149
811
Current portion of long-term debt
1,554
409
Total current liabilities
$
44,190
$
37,326
Long-term liabilities
Accrued liabilities
680
846
Operating lease liabilities, less current portion
2,410
2,007
Long-term debt
19,585
3,589
Total long-term liabilities
$
22,675
$
6,442
TOTAL LIABILITIES
$
66,865
$
43,768
Commitments and Contingencies
–
–
SHAREHOLDERS’ EQUITY
Common stock – No par value: unlimited authorized; 38,017,907 and 39,132,897 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively
16,901
23,365
Additional paid-in capital
19,453
18,337
Retained earnings
97,254
89,691
TOTAL VIEMED HEALTHCARE, INC.’S SHAREHOLDERS’ EQUITY
$
133,608
$
131,393
Noncontrolling interest in subsidiary
1,887
1,908
TOTAL SHAREHOLDERS’ EQUITY
135,495
133,301
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$
202,360
$
177,069
VIEMED HEALTHCARE, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Expressed in thousands of U.S. Dollars, except outstanding shares and per share amounts) (Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
Revenue
$
71,914
$
58,004
$
194,099
$
163,562
Cost of revenue
30,569
23,633
82,744
66,497
Gross profit
$
41,345
$
34,371
$
111,355
$
97,065
Operating expenses
Selling, general and administrative
31,919
26,671
89,147
77,988
Research and development
775
757
2,419
2,265
Stock-based compensation
2,180
1,712
6,832
4,764
Depreciation and amortization
397
348
1,098
1,140
Loss (gain) on disposal of property and equipment
476
(469
)
(2,528
)
(801
)
Other expense (income), net
(44
)
(276
)
(191
)
261
Income from operations
$
5,642
$
5,628
$
14,578
$
11,448
Non-operating income and expenses
Income (loss) from investments
–
96
–
(954
)
Interest expense, net
(507
)
(225
)
(818
)
(629
)
Net income before taxes
5,135
5,499
13,760
9,865
Provision for income taxes
1,535
1,594
4,200
2,880
Net income
$
3,600
$
3,905
$
9,560
$
6,985
Net income attributable to noncontrolling interest
87
27
265
36
Net income attributable to Viemed Healthcare, Inc.
$
3,513
$
3,878
$
9,295
$
6,949
Net income per share
Basic
$
0.09
$
0.10
$
0.24
$
0.18
Diluted
$
0.09
$
0.10
$
0.23
$
0.17
Weighted average number of common shares outstanding:
Basic
38,638,660
38,870,823
39,190,666
38,803,887
Diluted
40,495,761
40,779,414
41,086,178
40,702,001
VIEMED HEALTHCARE, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Expressed in thousands of U.S. Dollars) (Unaudited)
Nine Months Ended September 30,
2025
2024
Cash flows from operating activities
Net income
$
9,560
$
6,985
Adjustments for:
Depreciation and amortization
21,043
19,002
Stock-based compensation expense
6,832
4,764
Distributions of earnings received from equity method investments
–
147
Income from equity method investments
–
(261
)
Loss from debt investment
–
1,344
Gain on disposal of property and equipment
(2,528
)
(801
)
Amortization of deferred financing costs
121
135
Deferred income tax expense (benefit)
2,729
(3,507
)
Changes in working capital:
Accounts receivable, net
(670
)
(8,213
)
Inventory
(163
)
583
Prepaid expenses and other assets
(626
)
340
Trade payables
767
747
Deferred revenue
622
489
Accrued liabilities
1,584
2,424
Income tax payable/receivable
(5,796
)
(76
)
Net cash provided by operating activities
$
33,475
$
24,102
Cash flows from investing activities
Purchase of property and equipment
(31,248
)
(25,942
)
Cash paid for acquisitions, net of cash acquired
(26,332
)
(2,999
)
Proceeds from sale of property and equipment
15,026
7,440
Net cash used in investing activities
$
(42,554
)
$
(21,501
)
Cash flows from financing activities
Proceeds from exercise of options
1,439
416
Proceeds from term notes
9,000
–
Principal payments on term notes
(484
)
(954
)
Proceeds from revolving credit facilities
13,000
3,000
Payments on revolving credit facilities
(5,000
)
(5,000
)
Payments for debt issuance costs
–
(171
)
Shares redeemed to pay income tax
(1,732
)
(1,065
)
Shares repurchased under the share repurchase program
(13,225
)
–
Repayments of finance lease liabilities
(50
)
(319
)
Distributions to non-controlling interest
(286
)
–
Net cash provided by (used in) financing activities
$
2,662
$
(4,093
)
Net decrease in cash and cash equivalents
(6,417
)
(1,492
)
Cash and cash equivalents at beginning of year
17,540
12,839
Cash and cash equivalents at end of period
$
11,123
$
11,347
Supplemental disclosures of cash flow information
Cash paid during the period for interest
$
587
$
745
Cash paid during the period for income taxes, net of refunds
$
7,267
$
6,416
Supplemental disclosures of non-cash transactions
Equipment and other fixed asset purchases payable at end of period
$
4,774
$
2,854
Equipment sales receivable at end of period
$
–
$
1,683
Reconciliation from GAAP Net Income to Non-GAAP Adjusted EBITDA
This press release refers to “Adjusted EBITDA”, which is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Adjusted EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Management believes Adjusted EBITDA provides helpful information with respect to the Company’s operating performance as viewed by management, including a view of the Company’s business that is not dependent on the impact of the Company’s capitalization structure and items that are not part of the Company’s day-to-day operations. Management uses Adjusted EBITDA (i) to compare the Company’s operating performance on a consistent basis, (ii) to calculate incentive compensation for the Company’s employees, (iii) for planning purposes, including the preparation of the Company’s internal annual operating budget, and (iv) to evaluate the performance and effectiveness of the Company’s operational strategies. Accordingly, management believes that Adjusted EBITDA provides useful information in understanding and evaluating the Company’s operating performance in the same manner as management. Adjusted EBITDA is not a measurement of the Company’s financial performance under GAAP and should not be considered as an alternative to revenue or net income, as applicable, or any other performance measures derived in accordance with GAAP. Adjusted EBITDA has limitations as an analytical tool and you should not consider it in isolation or as a substitute for analysis of the Company’s operating results as reported under GAAP. Adjusted EBITDA does not reflect the impact of certain cash charges resulting from matters the Company considers not to be indicative of ongoing operations; and other companies in the Company’s industry may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure. In calculating Adjusted EBITDA, certain items (mostly non-cash) are excluded from net income attributable to Viemed Healthcare, Inc., including depreciation and amortization of capitalized assets, net interest expense, stock based compensation, transaction costs, impairment of assets, and taxes.
The following table is a reconciliation of net income attributable to Viemed Healthcare, Inc., the most directly comparable GAAP measure, to Adjusted EBITDA, on a historical basis for the periods indicated:
(Expressed in thousands of U.S. Dollars; unaudited)
For the quarter ended
September 30, 2025
June 30, 2025
March 31, 2025
December 31, 2024
September 30, 2024
June 30, 2024
March 31, 2024
December 31, 2023
Net income attributable to Viemed Healthcare, Inc.
$
3,513
$
3,157
$
2,625
$
4,316
$
3,878
$
1,468
$
1,603
$
3,477
Add back:
Depreciation & amortization
7,539
6,891
6,613
6,366
6,408
6,309
6,285
5,918
Interest expense, net
507
132
179
147
225
254
150
256
Stock-based compensation(a)
2,180
2,341
2,311
1,521
1,712
1,620
1,432
1,534
Transaction costs(b)
847
53
85
11
12
221
110
61
Impairment of assets(c)
–
–
–
–
125
2,173
–
–
Income tax expense
1,535
1,713
952
1,881
1,594
768
518
1,599
Adjusted EBITDA
$
16,121
$
14,287
$
12,765
$
14,242
$
13,954
$
12,813
$
10,098
$
12,845
(a) Represents non-cash, equity-based compensation expense associated with option and RSU awards. (b) Represents transaction costs and expenses related to acquisition and integration efforts associated with recently announced or completed acquisitions. (c) Represents impairments of the fair value of investment and litigation-related assets.
Reconciliation from GAAP Net Cash Provided by Operating Activities to Non-GAAP Free Cash Flow
This press release refers to “free cash flow” which is a non-GAAP financial measure that does not have a standardized meaning prescribed by GAAP. Free cash flow should be considered in addition to, and not as a substitute for, net cash provided by operating activities as reported under GAAP. The Company’s presentation of this financial measure may not be comparable to similarly titled measures used by other companies.
We present non-GAAP free cash flow for the current quarter and trailing twelve months (TTM) as a supplemental liquidity measure. Management believes free cash flow provides investors with useful insight into the company’s ability to generate cash, fund growth initiatives, and return capital to shareholders. Free cash flow is defined as net cash provided by operating activities, as reported under GAAP, less net capital expenditures (Net CAPEX). Net CAPEX is calculated as purchases of property and equipment minus proceeds from the sale of property and equipment in order to reflect both outflows and inflows associated with routine equipment turnover. Trailing twelve months (TTM) free cash flow is calculated by aggregating the last four quarters, each calculated using the methodology described above.
The following table is a reconciliation of net cash provided by operating activities, the most directly comparable GAAP measure, to free cash flow, on a historical basis for the periods indicated:
(Expressed in thousands of U.S. Dollars; unaudited)
The AI-powered platform eliminates manual commission spreadsheets, giving insurers real-time visibility into revenue and agent payouts.
SAN FRANCISCO, CA / ACCESS Newswire / November 5, 2025 / Fintary, the AI-powered revenue growth platform that helps insurance organizations streamline commission and financial operations, today announced it has raised $10M in Series A. The round was led by Infinity Ventures, with participation from Sierra Ventures and other existing investors. This latest investment brings Fintary’s total funding to $12.8M and will accelerate the company’s mission to modernize financial operations across the insurance industry.
Insurance companies face enormous challenges managing complex commission structures – hierarchies, overrides, bonuses, and splits – that are still largely handled through manual spreadsheets. Agencies report spending up to 15 – 40 hours a week on commission processing, reconciliation, and reporting – time that should be spent growing their core business. It’s a time sink that leads to revenue leaks, payout delays, and operational bottlenecks that limit growth.
Fintary transforms this process by automating commission operations end-to-end, giving insurers real-time visibility into profitability and ensuring agents are paid accurately and on time.
The company was founded by Qiyun Cai, one of the few female founders in the space, who experienced these operational challenges firsthand early in her career. “I’ll never forget staying up until 2AM on a Sunday, buried in spreadsheets trying to reconcile commissions,” said Cai, co-founder and CEO of Fintary. “And that’s when I realized it had to stop. The industry deserves better.”
Cai launched Fintary to reimagine how insurance companies manage their most complex financial operations, turning what was once a painful back-office chore into a strategic growth driver. Under her leadership, Fintary has built a fast-growing platform that blends deep insurance expertise with world-class engineering talent from Google, Microsoft, and multiple successful startups.
“Fintary stands out because they understand the insurance world from the inside out,” said Jeremy Jonker, Co-Founder and Managing Partner at Infinity Ventures. “Their platform has processed millions in commissions – they know the pain of chargebacks and hierarchy overrides firsthand. That’s why they’re able to build technology that goes beyond efficiency. Fintary is helping insurers grow faster, operate smarter, and turn financial operations into a competitive advantage.”
Fintary already works with insurance organizations across life & annuity, employee benefits, health, and property & casualty lines. Customers have reduced weeks of manual reconciliation to minutes, improved accuracy and transparency in commission payouts, and increased agent satisfaction and retention.
With this new funding, Fintary will continue scaling its team, expand its product capabilities, and extend its AI-powered platform into broader areas of insurance financial management.
About Fintary
Fintary is an AI-powered revenue growth platform that automates commission processing and financial operations for insurance companies, enabling them to scale efficiently while improving agent satisfaction and loyalty. Founded by Qiyun Cai, Yu Chen, and Michael Lee, Fintary is building the infrastructure that will fuel the next generation of people-powered businesses. Learn more at https://www.fintary.com/.
WASHINGTON, DC / ACCESS Newswire / November 4, 2025 / Trust Consulting Services, Inc. (Trust), under the strategic vision and leadership of founder and CEO JW Radford, is proud to announce its appearance in the Winter 2025/26 profile of the prestigious Inc. 5000 list of America’s fastest-growing private companies. Trust achieved ranking No. 3035, a testament to its high-growth trajectory and commitment to excellence in the federal contracting and professional services arena.
A Milestone in the Trust Growth Story
This recognition marks a significant milestone in Trust’s evolution. Under JW Radford’s leadership, the company has built a dynamic platform that spans federal acquisitions, cybersecurity services, logistics support, and professional staffing – all while maintaining a culture of performance, ethics, and innovation. According to Trust’s corporate narrative, the firm is a “full-service consultancy based in Washington, D.C., offering cost-effective, customer-focused, and scalable solutions.”
JW Radford, a former USAF contracting officer and acquisitions subject-matter expert, launched Trust in 2015 with a bold vision: to build a trust-based firm that delivers mission-critical services to government and commercial clients at scale. Over the past decade, Trust has scaled rapidly, driven by disciplined operations, a metrics-based governance structure, and a relentless focus on deep-dive staffing, training, and quality assurance.
Why This Recognition Matters
Being featured on the Inc. 5000 signals that Trust is outperforming thousands of peer firms across the country in terms of revenue growth, strategy execution, and operational scalability. For clients, partners, and stakeholders, this external validation offers three key assurances:
Sustained Growth – Trust is not a flash-in-the-pan startup but a maturing enterprise executed over years of consistent performance.
Credibility & Maturity – Ranking on the Inc. list underscores credibility with federal agencies, prime contractors, and commercial enterprises seeking proven execution and vendor stability.
Empowered Leadership & Culture – Under Radford’s stewardship, Trust has built a culture around accountability, innovation, and human-capital development – which serves as a competitive differentiator.
Key Insights from JW Radford
“This recognition by Inc. is not just about numbers – it’s about people … our team, our family, our mission. At Trust, we believe everyone is born with a passion to achieve their dreams and goals, but circumstances can sabotage those dreams. We must rediscover and tap into that lost passion to overcome obstacles and realize our dreams. That’s what every person at Trust lives every day. This ranking is for them.” – JW Radford, CEO, Trust Consulting Services, Inc.
Looking Ahead: Strategic Priorities for 2026 and Beyond
As Trust enters its next growth chapter, the company remains laser-focused on several strategic priorities:
Expanding its DoD-cybersecurity training school initiative, designed to up-skill cleared professionals for evolving mission demands.
Building an AI Center of Excellence, under the brand EchoHostAI™, to deliver next-generation analytics and rapid decision-support capabilities.
Pursuing organic and inorganic growth through targeted acquisitions of boutique firms that enhance vertical depth or geographic footprint (with an expressed goal of workforce optimization and overhead reduction by 20-30%).
Further strengthening its philanthropic and community impact work, including the Courage to Climb Foundation and scholarship programs championed by the Radford family.
About Trust Consulting Services
Trust Consulting Services (Trust) is a high-growth government and commercial services firm headquartered in Waldorf, MD, with a presence across the continental United States. Founded in 2015 by JW Radford, Trust provides full-spectrum contract solutions – including acquisitions support, program management, cybersecurity training, logistics/resupply, and professional staffing – to federal agencies, prime contractors, and commercial clients.
With a culture rooted in “performance with integrity,” Trust applies rigorous governance, metrics-driven quality processes, and human-capital investment to deliver mission-critical outcomes. Visit www.trustconsultingservices.com for more information.
NEW YORK, NY / ACCESS Newswire / November 5, 2025 / Every industry eventually faces its accountability moment. For decades, companies could talk about sustainability, traceability, and circularity without ever proving it. But that era is closing fast. The world’s most influential institutions are no longer chasing sustainability reports. They are chasing evidence.
That shift has created a once-in-a-generation opening for a company built entirely on proof. SMX (NASDAQ:SMX) has spent years developing molecular marking and digital passport systems that let materials carry their own history. Today, those quiet breakthroughs are reshaping how nations and industries define value. What began as science in a lab has become the language of global trust.
Building the Framework of Proof
SMX’s rise isn’t driven by buzzwords or hype cycles. It’s built on partnerships that have transformed ideas into infrastructure. Singapore’s A*STAR is working with SMX to develop a national plastics passport system that tracks every molecule from production to reuse. It’s not just about recycling. It’s about assigning a measurable identity to the world’s most persistent materials. When Singapore embeds your technology into a government framework, it means you have graduated from pilot to policy.
In Europe, SMX has found two powerful allies. Spain’s CARTIF brings research and validation muscle, turning theory into verified industrial applications. France’s CETI brings the fashion and textile industry into the conversation, using SMX’s molecular IDs to authenticate fibers, certify recycled content, and give every fabric its own proof of origin. Together, these institutions are proving that verification is not a cost. It’s a currency.
Proof That Pays
The business case for proof is finally clear. Brands and governments no longer want to promise progress. They want to measure it. SMX’s technology lets them do exactly that, embedding trust at the molecular level. When you can verify what something is, where it came from, and how it was made, you can turn compliance into commerce.
In the United States, Tradepro is already showing how that works. Verified recycled plastic bales command higher prices and meet the growing demands of consumer brands that need certified content. That is proof creating profit. At the same time, Austria’s REDWAVE is using SMX markers in its smart sorting systems to separate materials in real time. What used to be a waste stream now becomes a revenue stream.
Even the oldest asset classes are being redefined. Singapore-based Goldstrom is using SMX’s molecular markers to give gold and silver a digital memory. Each bar or coin can now prove its origin and history, turning precious metals into verifiable data assets. Proof has become portable. It moves with the material wherever it goes.
A Global Network Takes Shape
What ties these relationships together is a shared goal: to turn transparency into infrastructure. SMX sits at the center of that network. Each partnership adds new geography, new expertise, and new credibility. Together, they are building a system of record for the physical world, where authenticity can be proven as easily as identity online.
It’s no longer about isolated use cases. It’s about forming the architecture for verified commerce. SMX has positioned itself where governments, industries, and investors intersect. That makes it more than a technology provider. It makes it the foundation of a new economy that runs on evidence rather than promises.
The New Global Standard
What began with molecular markers has evolved into a movement. A*STAR, CARTIF, CETI, Goldstrom, REDWAVE, and Tradepro represent more than partnerships. They represent a global consensus forming around a single idea: proof is no longer optional. It’s the baseline requirement for credibility, finance, and growth.
SMX didn’t create that demand. It anticipated it. The world has reached a point where sustainability can’t be declared; it must be demonstrated. Where provenance can’t be assumed; it must be recorded. And where the companies and agencies that verify truth become the ones that define value.
The proof standard is here, and it speaks a universal language. From Singapore to Spain to France to the United States, the world’s most trusted institutions are building on SMX. Not because it’s fashionable, but because it’s functional. Proof is now infrastructure, and SMX wrote the code that makes it work.
About SMX
As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intends,” “may,” “will,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: matters relating to the Company’s fight against abusive and possibly illegal trading tactics against the Company’s stock; successful launch and implementation of SMX’s joint projects with manufacturers and other supply chain participants of gold, steel, rubber and other materials; changes in SMX’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; SMX’s ability to develop and launch new products and services, including its planned Plastic Cycle Token; SMX’s ability to successfully and efficiently integrate future expansion plans and opportunities; SMX’s ability to grow its business in a cost-effective manner; SMX’s product development timeline and estimated research and development costs; the implementation, market acceptance and success of SMX’s business model; developments and projections relating to SMX’s competitors and industry; and SMX’s approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company’s shares on Nasdaq; changes in applicable laws or regulations; any lingering effects of the COVID-19 pandemic on SMX’s business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators are unable to successfully develop and commercialize SMX’s products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in SMX’s filings from time to time with the Securities and Exchange Commission.
NEW YORK, NY AND VALLADOLID, SPAIN / ACCESS Newswire / November 4, 2025 / SMX (Security Matters) PLC (“SMX”), the pioneer of molecular “physical-to-digital” marking for supply-chain transparency, and CARTIF, one of Spain’s leading non-profit technology research centres, have entered into a non-binding letter of intent, with the purpose of seeking to create a framework to integrate SMX’s end-to-end tracing platform into CARTIF’s extensive portfolio of sustainability and Industry 5.0 projects.
The goal of the Letter of Intent is to evaluate the application of SMX’s molecular marking technology for strategic material based projects led by CARTIF, to identify complementary technological synergies that can enhance the integration of SMX’s molecular tracking solutions within broader digitalisation and circular economy frameworks. In addition, the Letter of Intent contemplates CARTIF contributing technologically to SMX-led initiatives or joint projects through its expertise in advanced process digitalisation and waste valorisation.
SMX believes that any ultimate binding agreement between the parties could help local companies, communities and government departments in Spain’s Castilla y Leon region and its industrial sector and manufacturing hub, initially, with an ultimate goal to target the rest of Spain and throughout Europe, to track critical materials, authenticate products, and unlock new funding mechanisms that speed the transition to a circular economy.
The collaboration with CARTIF contemplated by the Letter of Intent is expected to put a powerful, digitalized traceability tool directly in the hands of one of Europe’s most versatile applied-research centres. By embedding SMX’s molecular markers and blockchain analytics into CARTIF’s pilot plants and living-lab programmes, it may be able streamline proof-of-concept testing, strengthen grant applications, and shorten the path from lab discovery to industrial deployment.
The combined platform is targeting measurable circular-economy gains for sectors as diverse as food and beverage packaging, renewable-energy components, construction materials, automotive plastics, and critical-raw-material refining, potentially giving CARTIF and its regional stakeholders a competitive edge as Spain and the EU tighten ESG disclosure and recycled-content targets.
The Letter of Intent contemplates a 120-day evaluation period, and the collaboration is subject to the execution of definitive agreements between the parties.
CARTIF Deputy General Manager and Head of R&D Programmes Department Sergio Sanz commented: “As a non-profit innovation centre, our mission is to scout, validate and deploy technologies that help our stakeholders, whether public agencies or private enterprises, meet their sustainability goals. We believe that SMX’s platform offers exactly the kind of breakthrough capability our clients need to prove and improve circular performance.”
COMPELLING FUTURE IMPACT
The potential SMX-CARTIF partnership would position Valladolid as a launch-pad for Europe’s next generation of circular-economy solutions. By fusing world-class research with industrial-scale traceability, it could deliver three decisive advantages:
Scientific proof, commercial speed – Lab-to-market pathways to be shortened, potentially giving manufacturers a rapid route to compliant, high-value recycled inputs.
Finance-ready transparency – Real-time, tamper-proof data designed to unlock sustainability-linked finance, potentially turning environmental performance into tangible cash-flow benefits.
Ecosystem multiplier – Open innovation across packaging, renewables, construction, automotive and critical-minerals sectors, potentially creating a network effect with the goal of raising Spain’s competitiveness in meeting EU Green Deal targets.
SMX believes that circularity requires more than ambition – it needs verifiable data that every stakeholder can trust. SMX is seeking with CARTIF to move beyond pilots to build an ecosystem where every molecule has a digital passport and every recycled resource commands its true market value, with an ultimate goal of Spain, and Europe, leading the global transition from linear consumption to regenerative growth.
For further information contact:
SMX GENERAL ENQUIRIES
Follow us through our social channel @secmattersltd
As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
About CARTIF
Founded in 1994, CARTIF is a private, non-profit technology centre that delivers applied R&D, analytical testing and innovation management across energy, food, industry, construction, health and environmental sectors. The centre leads competitive projects at regional, national and EU level, supporting public entities and companies in topics ranging from smart cities and energy efficiency to circular economy and biotechnology.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intends,” “may,” “will,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: successful launch and implementation of SMX’s joint projects with manufacturers and other supply chain participants of steel, rubber and other materials; changes in SMX’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; SMX’s ability to develop and launch new products and services, including its planned Plastic Cycle Token; SMX’s ability to successfully and efficiently integrate future expansion plans and opportunities; SMX’s ability to grow its business in a cost-effective manner; SMX’s product development timeline and estimated research and development costs; the implementation, market acceptance and success of SMX’s business model; developments and projections relating to SMX’s competitors and industry; and SMX’s approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company’s shares on Nasdaq; changes in applicable laws or regulations; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators are unable to successfully develop and commercialize SMX’s products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in SMX’s filings from time to time with the Securities and Exchange Commission.
The Exclusive Technology Partnership Will Streamline POS, Kiosks, Mobile Ordering and Loyalty Programs Across More Than 400 Stores
BOULDER, COLORADO / ACCESS Newswire / November 4, 2025 / SumUp, the global financial technology company serving more than four million merchants worldwide, today announced an exclusive partnership with Gong cha, the world’s leading bubble tea brand. Through this collaboration, SumUp will serve as Gong cha’s exclusive innovation and technology partner, delivering an integrated platform to support end-to-end sales and customer experiences across more than 400 stores in the U.S., Canada, Puerto Rico, and Latin America.
SumUp Partners With Gong cha SumUp Will Serve as Gong cha’s Partner in the Americas
Gong cha sought a partner capable of providing a modern unified commerce platform capable of streamlining operations and delivering a uniform customer experience across all stores spanning multiple countries. After an 18-month pilot process involving several technology providers, Gong cha selected SumUp for its ability to go beyond payments and deliver best-in-class digital experiences that connect self-ordering kiosks and online platforms into a single system integrated with Gong cha’s POS and loyalty programs.
SumUp also developed an integration for Gong cha’s proprietary Super Wu robotic beverage technology, and the companies co-developed a guest feedback tool connected to Gong cha’s loyalty program – an innovation that increased customer survey participation by more than 15 times within days of launch.
Since SumUp provides Gong cha’s entire product ecosystem through a single platform, rather than through multiple disconnected vendors, the brand now benefits from centralized analytics and data insights across all stores and channels.
“Gong cha has become a cultural icon with a rapidly expanding global footprint,” said Andrew Helms, CEO of SumUp U.S. “With our presence in more than 35 markets and over four million merchants globally, we have the scale and experience to help support that journey.”
“As Gong cha continues to expand across North America and new international markets, having the right technology partner is critical to delivering a seamless experience for our merchants and their customers,” said Geoff Henry, President of Gong cha Americas. “SumUp’s platform unifies digital ordering, payments, and loyalty across hundreds of stores, making it easier to scale while maintaining the quality and service Gong cha is known for.”
Supporting Modern Growth for a Global Brand
Since launching in 2006, Gong cha has grown to nearly 2,200 locations in 30 international markets – and more than 240 stores in the U.S. across 23 states, Washington, D.C., and Puerto Rico. The brand has recently accelerated its expansion in the Americas, opening new locations in Seattle, Nashville, Milwaukee, Maine and the Caribbean, and entering markets across Ecuador and Colombia.
For SumUp, the partnership represents a strategic opportunity to bring its global growth strategy to a well-established and continually expanding brand. Beyond the Americas, SumUp and Gong cha are also collaborating in the U.K. and Ireland, extending the same digital innovation and unified operational model to new markets.
NEW YORK, NY / ACCESS Newswire / November 5, 2025 / Technology rarely reinvents something as timeless as gold. Yet SMX (NASDAQ:SMX), through its majority-owned subsidiary trueGold, is doing precisely that by embedding molecular-level proof into the world’s oldest store of value. What makes this special is that the proof added is as enduring as gold itself. It can travel with each nugget, bar, component, or jewelry piece indefinitely.
Once applied, SMX’s digital identity survives every melt, mint, and movement. That’s a result of the company’s molecular-marking system, which embeds an invisible chemical signature as early as the mine, creating a unique molecular serial number that survives refining, manufacturing, vaulting, and recycling. Each transfer is logged on a secure digital registry, producing a tamper-proof, end-to-end record of authenticity.
That innovation has drawn the interest of another big player. Adding to prior deals, SMX announced that trueGold has entered a strategic partnership with Goldstrom, a global precious-metals enterprise spanning trading, vaulting, logistics, bullion banking, and wealth management. The collaboration plans to integrate trueGold’s molecular-marking technology into Goldstrom’s advisory and operational framework, combining trueGold’s proof-based infrastructure with Goldstrom’s scale and market access.
Together, they plan to set a new standard for accountability and traceability across the gold supply chain. This time, compliance boxes will be checked by chemistry and digital verification rather than declarations.
A New Gold Standard
trueGold’s platform merges three distinct layers: a molecular marker, a proprietary reader, and a blockchain-secured registry. In simple terms, the system links physical matter, such as gold and other metals, to digital truth, allowing them to self-identify throughout their entire lifecycles. Once applied, the marker is permanent, invisible, and chemically neutral, as verified by independent Intertek testing under the AnchorCert Pro 2 protocol, demonstrating compliance with U.S., EU, and Canadian jewelry-safety standards.
But safety is only part of the story. The mission is accountability. Unlike conventional tracking that relies on paperwork or disconnected block-chain entries, trueGold authenticates the material itself. The result is proof that cannot be separated, altered, forged, duplicated, or lost.
Through its partnership with Goldstrom, that proof now enters one of the most globally integrated precious metals infrastructures. Goldstrom’s vaulting, logistics, and bullion-banking capabilities make it the ideal launch partner to move SMX’s technology from validation to full-scale commercial deployment. The value is this: the partnership transforms traceability from a technical feature into an operational standard for the entire sector. Call it as it is: a new gold standard for accountability.
Mining Plenty of Interest
Regulators are taking notice. The London Bullion Market Association (LBMA) has accredited SMX’s molecular-marker technology as a Gold Bar Security Feature, placing it among the industry’s most trusted authentication tools. That endorsement marks a pivotal moment where regulation, innovation, and market adoption align.
Goldstrom is placing an exclamation point on the value of that SMX win. By incorporating SMX’s traceability system into its client advisory work, it enables refiners, traders, and wealth managers to deliver verifiable ESG assurance to investors and institutions that demand it. The result is an auditable chain of custody that turns compliance into capital.
The industry isn’t the only potential winner. With SMX as the only known company capable of delivering molecular-level certification, stakeholders across the spectrum, from stakeholders to environmental advocates, stand to benefit. The ability to track gold with scientific precision under a single verifiable identity, from extraction to ownership to recycling, could unlock enormous financial and environmental impact across the supply chain. Combined with Goldstrom’s operational reach, that proof becomes the backbone of a next-generation accountability framework for precious metals.
Timing, As They Say, Is Everything
The timing could not be better. Consumer demands for transparency have outpaced the industry itself. IBM research shows that more than 70% of consumers would pay up to 40% more for products that are transparent and traceable. PwC reports an average 10% premium for sustainably sourced goods. Those margins represent billions in unrealized value for brands and institutions able to verify the origin of their materials.
In other words, by embedding identity directly into gold, SMX and trueGold turn sustainability into substance, doing so at a fraction of the value it creates. Even better, their molecular markers can distinguish recycled content, authenticate origin, and verify purity without disrupting design or production. That capability resonates across the entire supply chain. And now, through Goldstrom’s advisory network, this technology can reach even niche markets, transforming traceability from a regulatory requirement into a commercial advantage.
SMX’s move into precious metals through trueGold is not a new experiment. It is an evolution of an investment. The partnership with Goldstrom takes that even further by transforming the company’s molecular science into infrastructure, creating a global framework built on proof instead of promise. Each collaboration, from secure logistics to digital verification, reinforces the same principle: authenticity is no longer assumed. It is engineered and embedded.
What began as a molecular marking breakthrough at SMX has become a market architecture connecting physical matter with digital certainty. For the first time, gold does not just hold value; it proves it. In that sense, SMX and trueGold have positioned themselves not only as the arbiters of trust but as the architects of the precious-metals market’s next era, where proof is currency.
About SMX
As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intends,” “may,” “will,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: matters relating to the Company’s fight against abusive and possibly illegal trading tactics against the Company’s stock; successful launch and implementation of SMX’s joint projects with manufacturers and other supply chain participants of gold, steel, rubber and other materials; changes in SMX’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; SMX’s ability to develop and launch new products and services, including its planned Plastic Cycle Token; SMX’s ability to successfully and efficiently integrate future expansion plans and opportunities; SMX’s ability to grow its business in a cost-effective manner; SMX’s product development timeline and estimated research and development costs; the implementation, market acceptance and success of SMX’s business model; developments and projections relating to SMX’s competitors and industry; and SMX’s approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company’s shares on Nasdaq; changes in applicable laws or regulations; any lingering effects of the COVID-19 pandemic on SMX’s business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators are unable to successfully develop and commercialize SMX’s products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in SMX’s filings from time to time with the Securities and Exchange Commission.
ECG will exhibit in a 10-foot booth, presenting the latest evolution of its Addison Virtual Care Platform – a next-generation solution that provides continuous patient oversight, daily adherence support, and early detection of side effects, symptoms, and adverse reactions. Addison helps providers improve outcomes, strengthen coordination, and manage patient populations more effectively through a fully integrated RPM and CCM framework.
Addison is a lifelike 3D virtual caregiver interface that interacts naturally with patients to enhance daily adherence, monitor well-being, and connect seamlessly with healthcare teams. The platform enables:
Continuous oversight of patients between visits through AI-driven engagement, vitals tracking, and behavior analysis.
Early identification of health status changes, including side effects, response to prescribed treatment, or early signs of decline.
Streamlined coordination-connecting patient, provider, family, and TeleCare support in one unified ecosystem.
Turnkey implementation-from patient enrollment and logistics to technology provisioning, care delivery, and ongoing TeleCare management.
Customization for every provider-Addison programs are individually designed to align with each clinic’s workflows, staffing, and objectives, eliminating the “one-size-fits-all” approach.
This next-gen platform allows providers to scale RPM and CCM services efficiently, reduce clinical burden, and maintain proactive, personalized relationships with every patient in their care.
Quote from Leadership
“Primary care teams face enormous pressure balancing patient load, quality outcomes, and administrative complexity,” said Anthony Dohrmann, Founder and CEO of Electronic Caregiver. “Addison was designed to give those teams a lifelike, intelligent extension of their care delivery. It’s a 24/7 virtual teammate that never forgets a reminder, continuously monitors response to treatment, and connects providers, families, and patients in real time.
This isn’t a one-size-fits-all platform – it’s a fully customized solution, built around each provider’s exact workflow, staffing level, and patient needs. Addison brings together technology, TeleCare, logistics, and personalized support in one seamless system.”
Momentum from THRIVE and athenahealth Integration
Following its recent success at the athenahealth THRIVE Summit, Electronic Caregiver continues to strengthen partnerships across the primary care ecosystem. Addison’s interoperability with athenahealth and other leading EHR systems provides rapid deployment and bi-directional data flow, enabling:
Automated patient enrollment and remote monitoring activation
Real-time population analytics and intervention alerts
Streamlined monthly billing and care coordination workflows
Why the Summit Matters
The Annual Session & Primary Care Summit draws hundreds of family medicine physicians, clinical directors, and practice administrators from across Texas. With an estimated 30-40% of attendees using or familiar with the athenahealth platform, ECG’s exhibit offers a direct connection for providers seeking to modernize their RPM and CCM delivery models.
Primary-care teams visiting the booth will gain access to hands-on demonstrations and learn how Addison supports improved adherence, earlier detection, and better outcomes without adding administrative burden.
Live Demonstrations & Provider Consultations
At Booth #223, attendees will experience:
Addison’s 3D interactive Virtual Care Companion in real-time patient simulations
Multi-level integration options, including athenahealth and EHR-neutral workflows
Data dashboards showcasing adherence improvements and early intervention alerts
The Addison Care Launch Program, a turnkey path to implementation and reimbursement within 90 days
Visitors will also receive complimentary access to ECG’s Virtual Care Playbook for Primary Care Providers, outlining how practices can achieve measurable results in adherence, outcomes, and care coordination through the Addison platform.
About Electronic Caregiver
Electronic Caregiver, Inc., headquartered in Las Cruces, New Mexico, is an AI-driven health technology company serving healthcare organizations, providers, and consumers nationwide.
Its flagship innovation, Addison Care, is a human-like 3D virtual caregiver interface that delivers continuous engagement, vitals monitoring, adherence support, TeleCare coordination, and emergency response. Addison is powered by a HIPAA-compliant, AWS Well-Architected enterprise platform, integrated with major EHRs, and supported by a national 24/7 TeleCare Center staffed by trained specialists.
With over $140 million in research and development investment, 28 awarded and 50+ pending patents, and multiple certifications including FDA clearance and AWS Well-Architected Reviews, Electronic Caregiver stands at the forefront of scalable, intelligent, and compassionate virtual care.
About the Event
Annual Session & Primary Care Summit 2025 November 13-15, 2025 Renaissance Dallas Addison Hotel | Addison, TX Hosted by the Texas Academy of Family Physicians (TAFP) For event details, visit www.tafp.org/cme/aspcs
Media Contact
Travis Luevano Director, Digital Marketing media@ecg-hq.com (575) 649-7808
Hospitals nationwide credit USME’s on-demand access to medical equipment, AI-powered technology for helping clinicians save time, reduce costs, focus on patients
HOUSTON, TX / ACCESS Newswire / November 5, 2025 / For the second year in a row, Inc. magazine named US Med-Equip (USME) a “Power Partner” for helping clinicians in hospitals nationwide treat critical patients without delay.
USME partners with thousands of hospitals and health systems across the U.S. to provide medical equipment from ventilators and infusion pumps to specialty beds and therapeutic surfaces. The company’s on-demand service, award-winning technology and nationwide branch network have made it a trusted lifeline for hospitals facing constant demand and shifting patient needs.
“Hospitals count on us to respond immediately and support them in delivering the best possible care. That’s what drives us,” said Greg Salario, USME CEO.
The Inc. Power Partner Awards honor organizations whose work consistently empowers clients to excel. Winners are selected based on detailed client feedback and data measuring performance, dependability and overall impact.
“Trust and reliability are crucial in the medical field where equipment performance is critical,” said a respiratory therapy supervisor in Louisiana.
“When every minute matters, US Med-Equip delivers,” said a Colorado nurse manager.
USME has grown rapidly in recent years, expanding its reach to new markets and introducing technologies that help hospitals track, maintain and optimize their equipment fleets. The company’s focus on operational excellence, speed of delivery and customer collaboration has positioned it as a key partner for hospitals disciplined in controlling high capital and maintenance costs while ensuring equipment readiness, compliance, and reliability for patients.
“The healthcare heroes we serve inspire us every day,” Salario said. “We measure our success on theirs. When patients get the care they need because the right equipment arrived on time, we know we’re fulfilling our mission.”
About US Med-Equip
Recognized as one of the “world’s top 3 professional services firms in healthcare” for “driving innovation and providing the lynchpin support needed to enable healthcare professionals to focus on what they do best – ensuring positive outcomes for patients,” US Med-Equip provides hospitals with rental and asset management solutions. With dedicated employees across more than 100 locations, USME delivers patient-ready medical equipment within 2 hours plus drive time 24/7, 365 days a year.