Verb Technology Company, Inc. - VERBW STOCK NEWS

Verb Technology Company (Nasdaq: VERB) reported third-quarter results for 2022, showcasing a SaaS recurring revenue up 19% year-over-year to $1.9 million. Total revenue declined to $2.2 million, down from $2.9 million year-over-year, due to exiting low-margin non-digital revenue. The company secured $9 million in gross proceeds, enhancing its financial runway. Strategic cost-cutting measures were implemented, reducing operational costs significantly. The Nasdaq granted a 6-month extension for share price compliance.

Verb Technology Company (Nasdaq: VERB) has secured a $5.0 million non-convertible, unsecured term loan at 9% interest, maturing on May 7, 2024. This financing follows a prior transaction, bringing total gross proceeds to $9.0 million in three weeks. Additionally, Nasdaq has granted VERB an extension until May 8, 2023 to meet the $1.00 minimum closing bid price requirement for continued listing. The company plans to leverage the loan for growth and working capital, amidst challenging market conditions.

Verb Technology Company, Inc. (NASDAQ: VERB) will host a conference call to discuss its Q3 2022 financial results on November 14, 2022, at 5:30 p.m. ET. The call will be led by CEO Rory J. Cutaia and CFO Salman Khan. Investors are encouraged to participate and ask questions during the Q&A session. The results will be released prior to the call. A replay of the conference will also be available. Verb is recognized for its interactive video-based sales solutions and operates a Software-as-a-Service (SaaS) platform.

VERB Technology Company (Nasdaq: VERB) has partnered with the Pittsburgh Pirates, becoming the first MLB team to utilize VERB's interactive video-based sales solutions.

Approved for league-wide use by Major League Baseball Advanced Media, the collaboration aims to enhance ticket and merchandise sales through shoppable digital content. The Pirates' successful pilot test showcased high click-through rates, indicating strong potential for engagement and revenue growth. This partnership marks a significant milestone in VERB's expansion within the sports entertainment sector.

Verb Technology Company, Inc. (Nasdaq: VERB) announced on October 26, 2022, it has entered into agreements with institutional investors for the purchase of 12,500,000 shares of common stock and warrants for an aggregate gross of approximately $4.0 million. Each share and warrant are being offered at $0.32, with warrants exercisable at $0.34 six months after issuance. Proceeds will be used for working capital and general corporate purposes. The offering is expected to close by October 28, 2022, pending regulatory approvals.

Verb Technology Company (NASDAQ: VERB) has launched a new program called Creators on MARKET, allowing content creators and influencers to monetize their content through livestream shopping. Creators can choose products from over 12 million items from well-known brands like Best Buy and Target, offering a commission of 5% to 20% on sales, with no upfront costs or inventory responsibilities. This program aims to enhance the creator economy by providing tools for creators to engage their audiences while earning revenue. The platform, MARKET.live, will also help creators establish personalized storefronts.

VERB Technology Company (NASDAQ: VERB) has launched the ‘Creators On MARKET’ program, enabling creators to monetize their audience through livestream shopping without the need to handle inventory or shipping. Creators can select products from a vast selection offered on the MARKET.live platform, earning commissions of 5% to 20% on sales. An aggressive marketing strategy aims to attract thousands of influencers to enhance user engagement and drive revenue growth. This initiative represents a significant opportunity for both creators and VERB to strengthen its sales ecosystem.

Stemtech Corporation has announced the Go-Live date for its Stemtech Advance Office, powered by VERB Technology Company, Inc., set for September 19, 2022. This innovative software aims to enhance communication and operational efficiency for Independent Business Partners (IBPs). President John W. Meyer expressed optimism about the partnership, which includes advanced analytics and interactive video-based sales applications, as a key growth driver for Stemtech. VERB's SaaS platform supports sales enablement globally, showcasing capabilities in direct sales and customer engagement.

Verb Technology Company collaborates with Coresight Research for the annual 10.10 Shopping Festival, scheduled for October 10, 2022. This event aims to enhance the US consumer adoption of livestream shopping, a market projected to reach $423 billion. The festival will feature over 30 retailers, promoting special deals while supporting more than 10 charities. Participants, including brands and retailers, will donate a portion of their sales to these charities, emphasizing the social impact of shopping choices.