Verb Technology Company, Inc. - VERBW STOCK NEWS

MARKET.live selected to participate in TikTok Shop Fall Sale, leveraging its technology integration with TikTok to provide a seamless shopping experience for users. Expected to expand buyer base to over 150 million US-based TikTok users. Special event discounted pricing and funded coupons available. Increased visibility and engagement opportunities for MARKET.live and other sellers.

VERB launches Affiliate Sales Programs on TikTok, attracting 584 influencers in 10 days

VERB announces strategic relationship with TikTok, expanding US addressable audience to over 150 million. Integration allows MARKET.live sellers to stream on TikTok simultaneously and enables customers to check out directly on the app. Access to real-time sales data and the ability to launch shoppable ads and live streams featuring trending products. Positive opportunity for hosts, vendors, and creators to magnify audiences and capitalize on the convergence of entertainment and commerce.

Verb Technology Company (VERB) continues to lead the direct selling industry with its sales enablement platform. In the April 2023 issue of Social Selling News, VERB was ranked #1 for the third consecutive year, boasting 153 direct sales clients—more than its next two competitors combined. The company’s SaaS platform offers interactive video-based applications, including verbCRM, verbLEARN, verbLIVE, and verbPULSE, all geared towards enhancing sales efforts. CEO Rory J. Cutaia expressed excitement over the recognition and highlighted strong recent client wins, anticipating substantial growth in 2023. Verb's platform serves hundreds of thousands globally, showcasing its significant reach and impact in the market.

Verb Technology Company (Nasdaq: VERB) has completed an investigation revealing evidence of potential illegal naked short selling of its shares. The investigation, which began following unusual trading patterns detected on January 23, 2023, has identified 16 financial services firms involved in these activities. CEO Rory J. Cutaia announced the findings and mentioned that the company is cooperating with regulatory bodies to address these concerns. The company intends to share intelligence and resources with other affected entities to combat these trading malpractices. As a leader in interactive video-based sales applications, VERB focuses on transforming customer engagement through its MARKET.live platform, enhancing its position in the e-commerce sector.

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.