Verb Technology Stock Price, News & Analysis

Verb Technology Company, Inc. (Nasdaq: VERB) announced a registered direct offering of 14,666,667 shares of its common stock and warrants, priced at $0.75 per share, aiming to raise approximately $11 million. The offering is set to close around April 25, 2022, subject to customary conditions. The securities purchase agreement reflects ongoing investor confidence in VERB and its interactive video sales applications. A.G.P./Alliance Global Partners serves as the sole placement agent for this transaction, which is structured under an effective shelf registration statement.

VERB Technology Company (Nasdaq: VERB) is expanding its market by allowing creators to sell non-fungible tokens (NFTs) through its livestream shopping platform, MARKET. NFTs, unique digital assets gaining immense popularity, can now be sold in livestream events, enhancing the ecommerce experience. CEO Rory J. Cutaia emphasized this initiative aligns with their goal to support the creator economy. The MARKET platform facilitates concurrent livestream sessions for various sellers, aiming to revolutionize online shopping.

Verb Technology Company, Inc. (Nasdaq: VERB) has expanded its addressable market by introducing a digital download ecommerce feature on its MARKET livestream shopping platform. This new capability allows creators and influencers to sell various downloadable digital assets, including music, videos, and books. CEO Rory J. Cutaia emphasized that this feature significantly increases revenue potential while supporting the growth of the creator economy. The MARKET platform aims to provide a robust marketplace free from supply chain issues.

VERB Technology Company (Nasdaq: VERB) has appointed John Rizzo, a seasoned producer from QVC, as SVP of Content and Brand Partnerships for its MARKET livestream shopping platform. Rizzo brings over two decades of experience, having produced over 30,000 hours of live programming and generating $5 billion in sales at QVC. He aims to enhance MARKET's strategic partnerships and creative content development, leveraging his extensive relationships in the direct-to-consumer landscape. The platform is set for official launch this summer, following a successful soft launch, aiming to attract multiple vendors and brands.

Verb Technology Company (Nasdaq: VERB) has launched a significant feature allowing brands and influencers to establish standalone storefronts on its MARKET platform ahead of its public unveiling. This new capability enables immediate hosting of livestream events, drawing viewers directly to the storefronts for product purchases. The soft launch phase included onboarding vendors and conducting training sessions. Notably, upcoming events themed around food, beverage, wellness, and fashion are anticipated as part of the official launch strategy, set for summer.

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.