OpenWorld, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 13, 2026, reporting a net loss of $10.2 million for the third quarter and disclosing the completion of a reverse acquisition on September 30, 2026.

Key Highlights

  • Net loss of $10,204 thousand for the three months ended September 30, 2026, compared to net income of $9,906 thousand in the same period of 2025, according to the filing.
  • Total revenues of $7,427 thousand for Q3 2026, down from $20,753 thousand in Q3 2025, with $6,635 thousand of Q3 2026 revenue coming from related-party contracts.
  • Reverse acquisition completed September 30, 2026, with historical share and per-share amounts retrospectively adjusted to reflect a 77.27 exchange ratio.
  • Total assets grew to $32,693 thousand at September 30, 2026, from $6,045 thousand at December 31, 2025, with goodwill of $7,318 thousand and intangible assets of $6,837 thousand added post-acquisition.
  • General and administrative expenses of $14,642 thousand for Q3 2026 included stock-based compensation of $6,438 thousand; there was no stock-based compensation in Q3 2025.
  • 15,615,199 shares of common stock were outstanding as of November 10, 2026, the filing stated.
  • Cash increased to $4,506 thousand at September 30, 2026, from $730 thousand at December 31, 2025, partly reflecting $4,226 thousand of cash acquired in the reverse acquisition.

OpenWorld Reports Sharp Revenue Decline and Expanded Losses Following September 2026 Reverse Acquisition

According to the filing, OpenWorld, Inc. (NASDAQ:OPNW) - formerly known as VerifyMe, Inc. - reported total revenues of $7,427 thousand for the three months ended September 30, 2026, a decline from $20,753 thousand in the comparable prior-year quarter. For the nine months ended September 30, 2026, total revenues were $15,192 thousand versus $30,674 thousand in the first nine months of 2025. The company disclosed that related-party revenues, which were absent from the prior-year periods shown, accounted for $6,635 thousand of Q3 2026 revenues and $9,560 thousand of the nine-month total.

The company reported a net loss of $16,064 thousand for the nine months ended September 30, 2026, compared to net income of $1,000 thousand for the same period of 2025. The filing attributed a significant portion of operating expense growth to general and administrative costs, which reached $21,030 thousand for the nine-month period, including stock-based compensation of $7,043 thousand and non-cash professional fees and merger expense of $5,164 thousand. No stock-based compensation was recorded in the comparable 2025 periods, the filing noted.

The reverse acquisition, completed on September 30, 2026, brought $4,226 thousand of cash onto the balance sheet and resulted in the recognition of $7,318 thousand in goodwill and $6,837 thousand in intangible assets, according to the filing. Total liabilities rose to $16,335 thousand from $2,291 thousand at December 31, 2025, with new line items including a $2,231 thousand dividends payable, a $1,792 thousand related-party notes payable, and a $891 thousand warrant liability. The company reported preferred stock of 0.85 shares outstanding, described as convertible into approximately 14,445 shares of common stock as of September 30, 2026.

What Was Disclosed

OpenWorld, Inc. filed its unaudited quarterly report covering the period ended September 30, 2026, disclosing a reverse acquisition completed on that same date, a net loss of $10,204 thousand for Q3 2026, and significant increases in both total assets and total liabilities relative to year-end 2025.