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) announced the approval of a 1-for-40 reverse stock split by stockholders, with an overwhelming support of 84.16%. This action is set to take effect on April 19, 2023, aiming to elevate the stock price to comply with Nasdaq's $1.00 minimum bid price requirement.
The special meeting, held on April 14, 2023, allowed 77,367,918 shares to vote on several proposals, including the reverse stock split. Post-split, the total shares will decrease from approximately 153.6 million to 3.8 million. This split will also adjust the number of shares tied to stock options and warrants, keeping shareholder ownership percentages consistent.
The move is anticipated to mitigate the effects of naked short selling and provide a pathway for compliance with Nasdaq guidelines. CEO Rory J. Cutaia expressed hopes that this decision would enhance the company's market standing.
Verb Technology Company (Nasdaq: VERB) reported record SaaS revenue for 2022, achieving $7.7 million, a 12% increase from the previous year. This SaaS revenue now constitutes 93% of total digital revenue, which is $8.3 million, highlighting a strategic shift away from low-margin non-digital services. The company improved its cost of revenue by 27%, while gross profit margins rose to 65%, up from 57%. Significant reductions in expenses were noted: R&D costs down 58%, and G&A expenses down 18%. Modified EBITDA improved by 28% year over year. The company ended 2022 with a $2.4 million cash position and an additional $6.6 million raised in January 2023 through an equity offering.
Verb Technology Company announces a conference call on April 17, 2023, at 6:00 PM ET to discuss financial results for Q4 and FY 2022. The call will be hosted by CEO Rory J. Cutaia and CFO Salman Khan. Interested participants can join by calling 1-877-407-4021 (toll-free) or 1-201-689-8472 (international) 10-15 minutes prior. A replay will be available until May 16, 2023, for those unable to attend live. Verb is recognized for its interactive video-based sales applications, particularly the MARKET.live platform, which integrates e-commerce with entertainment for brands and retailers, enhancing customer engagement across social media.
Verb Technology Company (Nasdaq: VERB) announced a short delay in filing its Form 10-K due to the need for further assessment of subsequent events and completion of its audit. The new filing date and earnings call will be communicated once established, anticipated within the extension period of Form 12b-25. The company specializes in interactive video-based sales applications, notably the MARKET.live platform, which integrates ecommerce with social interaction. With operations in over 100 countries, VERB aims to enhance customer engagement across various channels.
Verb Technology Company, Inc. (NASDAQ: VERB) announced a conference call on March 31, 2023, at 6:00 PM ET to discuss its fourth quarter and full-year financial results for 2022. CEO Rory J. Cutaia and CFO Salman Khan will lead the call. The results will be released prior to the conference. VERB specializes in interactive video-based sales applications, providing a SaaS platform used globally. Its innovative MARKET.live platform offers a livestream shopping experience, underscoring its position in the evolving e-commerce landscape. The call provides a vital update for investors as the company moves forward.
On February 15, 2023, it was announced that the third season of David Meltzer's late-night entrepreneurial show Office Hours is set to premiere on Apple TV on February 17th, reaching over 100 countries. This season features influential guests such as Gary Vaynerchuk, Tony Hawk, and Olympic champion Carli Lloyd. Each episode will include insights on entrepreneurship and personal development, along with the introduction of the 'Unstoppable Entrepreneur Award' presented by Michael DeLaGrange. David Meltzer aims to equip entrepreneurs with tools for success while promoting sustainable education through the Unstoppable Foundation.
Verb Technology Company (Nasdaq: VERB) has initiated an investigation into potential illicit trading activities involving its shares, engaging ShareIntel and other forensic experts. The company's board is evaluating shareholder-focused initiatives, including a possible special dividend, while monitoring industry strategies to combat such trading. Following a recent capital raise and the settlement of senior secured debt, VERB is committed to actions that safeguard shareholder interests. The CEO emphasized a data-driven approach in addressing these concerns.
Verb Technology Company (Nasdaq: VERB) has announced a partnership with the United Inventors Association (UIA) to launch a new series, InventHer Live, during National Women Inventors Month. The series, debuting on February 2, 2023, focuses on women inventors and their products, featuring notable hosts and creators from various fields including Fashion and Home Solutions. The initiative aims to create awareness about female innovators while providing a platform to showcase their products and stories. VERB's MARKET.live platform, a social shopping and livestream commerce destination, continues to expand its engagement strategies through innovative programming.
Verb Technology Company, Inc. (NASDAQ:VERB) successfully completed a $7.2 million underwritten public offering, with Aegis Capital Corp. acting as the sole bookrunner. This capital raise supports the company’s position as a leader in interactive video-based sales applications, enhancing its MARKET.live platform, a social shopping destination. Verb’s innovative SaaS platform caters to numerous industries globally, including professional sports. With a strong user base and ongoing international growth, the proceeds from this offering aim to further enhance its operational capabilities and market reach.
Verb Technology Company (Nasdaq: VERB) has fully paid off its senior secured convertible debt totaling $6.3 million ahead of schedule and terminated its equity line of credit. This repayment was made in cash, eliminating any potential equity dilution. The Common Stock Purchase Agreement allowing the sale of $50 million in newly issued shares has also been mutually terminated. Verb is known for its interactive video-based sales applications and operates the MARKET.live platform, which enhances ecommerce engagement for brands and retailers.
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