Welcome to our dedicated page for Verb Technology Company news (Ticker: VERB), a resource for investors and traders seeking the latest updates and insights on Verb Technology Company stock.
Verb Technology Company, Inc. (Nasdaq: VERB) is a pioneer in interactive video-based sales applications, revolutionizing how businesses attract and engage customers. With a global reach extending to over 60 countries, VERB's Software-as-a-Service (SaaS) platform delivers a comprehensive suite of subscription-based sales enablement software. Key products include:
- verbLIVE: An interactive livestream ecommerce, shoppable video, and webinar solution.
- verbCRM: A customer relationship management tool.
- verbTEAMS: A self-onboarding version of verbCRM, optimized for small businesses with salesforce synchronization.
- verbLEARN: A learning management system designed for corporate training and education.
Headquartered in Las Vegas, NV, Verb Technology operates creator studios in Los Alamitos, CA, and Philadelphia, PA, making it a central hub for the convergence of ecommerce and entertainment. The company's flagship platform, MARKET.live, is a multi-vendor, multi-presenter, livestream social shopping destination. MARKET.live enables brands, retailers, creators, and influencers to monetize their fanbase across social media channels like TikTok, Facebook, and Instagram. Recently, VERB integrated a seamless native checkout process for Meta platforms, expanding MARKET.live's audience and enhancing value for its users.
In terms of financial health, VERB recently reported cash and cash equivalents of approximately $14.2 million with notes payable of around $1.2 million, marking a significant improvement from previous periods. This financial stability has solidified the company's ability to continue operations for at least the next 14 months, subject to revenue generation.
VERB's ongoing partnerships and technological innovations position it as a leader in interactive video-based sales. The company also offers a variety of services including B2B telesales, sales promotions, event marketing, and door-to-door campaigns. A recent surge in retailers joining MARKET.live, along with partnerships like the one with TikTok, underscores MASSIVE growth potential and strategic initiatives aimed at expanding and enhancing ecommerce capabilities.
For more detailed information, visit VERB.tech and MARKET.live or follow their social media channels.
Verb Technology Company (Nasdaq: VERB) has appointed Emily Hecht, a former executive from ViacomCBS and AwesomenessTV, as a consultant and showrunner to oversee upcoming livestream shopping festivals on the MARKET platform. Scheduled for this summer, these festivals will feature themed events focused on categories such as food, wellness, and fashion. Hecht's extensive background in digital media production positions her well to enhance the experience for both vendors and shoppers. CEO Rory J. Cutaia expressed enthusiasm about her joining the team to ensure successful festival execution.
Verb Technology Company reported strong fourth quarter and full-year results for 2021, showcasing a 47% increase in SaaS recurring revenue year-over-year in Q4 and a 34% increase for the full year. Total digital revenue rose 45% in Q4 and 26% for the year. The SaaS segment now represents 84% of total digital revenue. The company has initiated operational cost reductions aimed at achieving profitability and expects to cut annual costs by up to $8.5 million. Significant product launches are set for 2022, including the MARKET platform.
VERB Technology Company reported significant growth in Q4 2021, with SaaS recurring revenue up 47% year-over-year, totaling $1.9 million. For the full year, SaaS recurring revenue increased 34% to $6.8 million. Total digital revenue for Q4 also rose by 45%, resulting in $2.2 million, while full-year digital revenue climbed 26%. Gross profit margin improved to 57%, up from 52%. Efforts to cut operational costs were evident with R&D and G&A expenses down 22% and 7%, respectively, in Q4. The firm successfully onboarded new clients, expanding its market reach.
Verb Technology Company (Nasdaq: VERB) has partnered with the Phoenix Suns, marking its first collaboration with an NBA team. The Suns plan to integrate VERB's video-based sales solutions to enhance their digital marketing strategy, focusing on increasing ticket and merchandise sales while engaging fans through interactive content. Rory J. Cutaia, CEO of VERB, expressed enthusiasm for this partnership, highlighting growth in the sports entertainment sector and the effectiveness of video for customer engagement.
Verb Technology Company (NASDAQ: VERB), a leader in interactive video-based sales applications, will host a conference call on March 31, 2022, at 5:00 p.m. ET to discuss its Q4 and FY 2021 financial results. The conference will also provide updates on the MARKET livestream shopping platform. CEO Rory J. Cutaia and Interim CFO Salman Khan will lead the call, followed by a Q&A session. Investors can access the call via phone or webcast, with a replay available until April 14, 2022.
Verb Technology Company (Nasdaq: VERB) announced updates on its new livestream shopping platform, MARKET, through interviews with COO Denise Butler and SVP Angel Cicerone. The discussions highlighted the platform's go-to-market strategy, retailer reactions from the soft launch, and plans for a public launch. They emphasized the innovative impact of the platform on retail and its importance for vendors and influencers interested in online commerce. The company continues to lead in interactive video sales applications, serving clients worldwide.
Verb Technology Company (Nasdaq: VERB) has appointed Kate Eckman as SVP of Programming and Talent Acquisition for its MARKET livestream shopping platform. Eckman, a former host on QVC and HSN, brings two decades of experience, including the launch of a beauty brand that achieved $4 million in sales on its first day. Her role involves recruiting brands and talent, developing hosts, and enhancing the shopping experience to drive growth for the platform, which aims to revolutionize ecommerce through interactive livestreaming.
Verb Technology Company (Nasdaq: VERB) has announced a multi-year partnership with the Florida Panthers of the NHL. The collaboration aims to implement VERB's innovative video-based sales enablement solutions for engaging fans and enhancing ticket and merchandise sales. Both parties believe in the potential of interactive video technology to adapt to evolving consumer behavior. CEO Rory J. Cutaia expressed enthusiasm about leveraging this partnership to expand in the sports entertainment sector and drive sales.
Verb Technology Company has launched a waitlist for its new multivendor livestream shopping platform, MARKET, aimed at creating a dynamic online shopping experience. The platform allows simultaneous livestream shopping sessions by various vendors and offers features such as a multivendor shopping cart and affiliate rewards. Designed for both mobile and desktop, MARKET enhances customer engagement with real-time analytics and professional-quality streaming. This initiative represents VERB's commitment to merging ecommerce with entertainment, potentially transforming online sales channels.
Verb Technology Company (Nasdaq: VERB) announced that CEO Rory J. Cutaia will meet with institutional investors at A.G.P.’s Virtual Emerging Growth Technology Conference on February 2, 2022. Cutaia will showcase VERB's innovative interactive video technology solutions, including the upcoming launch of MARKET, a livestream shopping platform designed for multiple vendors and presenters. This platform aims to revolutionize ecommerce by merging shopping with entertainment, catering to various consumer brands and influencers.
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