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.
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.
Verb Technology Company reported its Q2 2022 financial results with significant growth metrics. SaaS recurring revenue increased by 23% year-over-year, now constituting 91% of total digital revenue. Gross margin also improved by 23%, contributing to a 19% rise in total digital revenue. The company effectively reduced its R&D operational expenses by 57% compared to Q2 2021. Additionally, Modified EBITDA showed a positive improvement of $2.2 million from the previous year.