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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Verb Technology Company Inc | NASDAQ:VERB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0081 | -5.33% | 0.1439 | 0.14 | 0.17 | 0.154 | 0.1427 | 0.1505 | 5,424,652 | 05:00:07 |
Management Commentary
“It’s been a very exciting time for us at VERB. Since we last reported in May, we have made several milestone announcements that highlight our solid progress in delivering best-in-class sales-driving technology and applications,” said Rory J. Cutaia, CEO of VERB. “We released verbMAIL for the Microsoft Outlook platform, a revolutionary video email solution that makes our proprietary interactive video technology available to over one billion Outlook users, turning a favorite contact management tool into a favorite sales tool. We announced a major partnership with Market America Worldwide | SHOP.COM, for the deployment of our verbLIVE livestream ecommerce application to over 100,000 distributors globally, and launched it with our Attribution feature throughout Asia, Europe and North America in July. We also announced a similar partnership this quarter with NewAge, Inc., a direct-to-consumer (D2C) sales company, to add up to 600,000 distributors on our platform in 75 countries.
“And we introduced PULSE, our newest sales enablement platform feature. It’s like a sales coach in your pocket tracking your interactions with your prospects and telling you what to do next to close that sale.
“For the second quarter, our SaaS recurring revenue grew 26% year over year and 10% from the previous quarter. Our results do not include contributions from any of the recently announced products and partnerships, but we expect these to produce a positive revenue impact in the coming quarters.
“We believe that our technology and suite of sales enablement solutions give us a clear competitive advantage and position us to lead the burgeoning high-growth livestream ecommerce sector, which has already seen tremendous success in Asia and which we believe is set to gain ground in the U.S. and other markets. In addition to launching verbLIVE with Market America and multiple sales applications with NewAge, Inc., we are continuing to build a robust sales pipeline targeting larger businesses that can accelerate product adoption and boost annual recurring revenues.
“We continue to improve on our offerings, fine-tuning and elevating, and adding new, value-enhancing, innovative features and products that will continue to allow us to deliver the industry leading sales enablement tools our clients and customers have come to expect from us. We are also adding sales and marketing professionals to respond to the growing demand we are cultivating while simultaneously increasing product penetration among existing clients. We are continuing to deliver paradigm-shifting technology and products which represent long-term, value-creating revenue catalysts that drive our growth and increase shareholder value. We are excited to report on our continued progress for the remainder of the year.”
Second Quarter 2021 Financial Results and Recent Company Highlights
Six Months Ended Financial Results
Conference Call Information
VERB management will hold a conference call today, August 16, 2021, at 5:00 p.m. Eastern time, to discuss second quarter 2021 results in greater detail. A telephonic replay of the conference call is available from 8:00 p.m. Eastern time today through August 30, 2021.
VERB Q2 2021 Earnings Call Date: Monday, August 16, 2021Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)To access by phone: Please call the conference telephone number 10-15 minutes prior to the start time. An operator will register your name and organization. U.S. dial-in number: 1-877-300-8521International number: 1-412-317-6026
To access by webcast: A live and archived webcast will also be available. Webcast link: http://public.viavid.com/index.php?id=146228
Replay:Toll-free replay number: 1-844-512-2921International replay number: 1-412-317-6671Replay ID: 10159398
About VERBVerb Technology Company, Inc. (Nasdaq: VERB) transforms how businesses attract and engage customers. The Company’s Software-as-a-Service, or SaaS, platform is based on its proprietary interactive video technology, and comprises a suite of sales enablement business software products offered on a subscription basis. Its software applications are available in over 60 countries and in more than 48 languages to large enterprise and small business sales teams that need affordable, easy-to-use, and quick-to-get-results sales tools. Available in both mobile and desktop versions, the applications are offered as a fully integrated suite, as well as on a standalone basis, and include verbCRM (Customer Relationship Management application), verbLIVE (Interactive Livestream eCommerce and Video Webinar application), verbTEAMS (a Self On-boarding version of verbCRM with built-in verbLIVE and Salesforce synchronization for small businesses and solo entrepreneurs), verbLEARN (Learning Management System application), and verbMAIL (an interactive video mail solution integrated seamlessly into Microsoft Outlook). The Company has offices in California and Utah. For more information, please visit: www.verb.tech.
Follow VERB here:VERB on Facebook: https://www.facebook.com/VerbTechCo/VERB on Twitter: https://twitter.com/VerbTech_CoVERB on LinkedIn: https://www.linkedin.com/company/verb-tech/VERB on YouTube: https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQDownload verbMAIL here: verbMAIL on Microsoft AppSource Store
FORWARD-LOOKING STATEMENTSThis communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “anticipate,” “expect,” “project,” “plan,” or words or phrases with similar meaning. Forward-looking statements contained in this press release relate to, among other things, the Company's projected financial performance and operating results, including SaaS Recurring Revenue, as well as statements regarding the Company's progress towards achieving its strategic objectives, including the successful integration and future performance of acquisitions and performance of SoloFire. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to the COVID-19 pandemic and related public health measures on our business, customers, markets and the worldwide economy; our plans to attract new customers, retain existing customers and increase our annual revenue; the development and delivery of new products, including verbLIVE; our plans and expectations regarding software-as-a-service offerings; our ability to execute on, integrate, and realize the benefits of any acquisitions; fluctuations in our quarterly results of operations and other operating measures; increasing competition; general economic, market and business conditions. If any of these risks or uncertainties materialize, or if any of our assumptions prove incorrect, our actual results could differ materially from the results expressed or implied by these forward-looking statements. Investors are referred to our filings with the Securities and Exchange Commission, including our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Investor Relations Contact:888.504.9929investors@verb.techMedia Contact:855.250.2300, ext.107info@verb.tech
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