Welcome to our dedicated page for Verb Technology news (Ticker: VERBW), a resource for investors and traders seeking the latest updates and insights on Verb Technology stock.
News related to the VERBW symbol centers on Verb Technology Company, Inc. (Nasdaq: VERB) and its evolution across social commerce, telehealth, crowdfunding, and digital assets. Company press releases highlight how Verb positions itself as transforming social commerce through its MARKET.live livestream shopping platform, its GO FUND YOURSELF interactive crowdfunding TV show, and its VANITYPrescribed and GoodGirlRx telehealth portals. More recent announcements describe a strategic shift toward a Toncoin-focused digital asset treasury model and a renaming to TON Strategy Company, with trading under the ticker TONX.
On this news page, readers can find coverage of Verb’s business milestones, including the acquisition of AI social commerce platform LyveCom, which the company states enhances MARKET.live with AI-driven video commerce, automated content repurposing, and AI-powered virtual hosts. News items also describe MARKET.live’s production of livestream shopping events for brands on platforms such as TikTok LIVE and Walmart.com, illustrating how Verb’s technology is used in real-world campaigns.
Investors can also review releases detailing Verb’s financial updates, such as quarterly earnings, revenue trends following the sale of its prior direct sales SaaS unit, and capital-raising transactions like the upsized and oversubscribed private placement intended to fund a Toncoin treasury strategy. Later communications under the TON Strategy Company name discuss the company’s focus on holding Toncoin as a primary treasury reserve asset and its belief that integration with the Telegram ecosystem is important to its digital asset thesis.
Because these announcements come directly from company communications, this news feed offers a centralized view of how Verb’s business model, capital structure, and strategic direction have developed over time, from interactive video-based social commerce toward a Toncoin-oriented digital asset treasury approach.
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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.
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.