Verb Technology Stock Price, News & Analysis

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.

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.

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 (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.