Post by Mike on Mar 30, 2021 22:15:00 GMT -5
Progress Report for Q2, 2021
Rory Cutaia: "So, I want to start with verbLIVE, which as I said, you've heard me say this many times, I believe is likely to be the greatest value creator
for our shareholders for years to come, and it launched commercially this quarter. When I talk about this difficult period of time producing the next Amazon,
this technology is what I'm talking about. True livestream in-video, e-commerce. It's a combination of Zoom and Shopify and the
disruptive implications of this technology and value creation potential is virtually unlimited." Rory is talking about verb.TV
for our shareholders for years to come, and it launched commercially this quarter. When I talk about this difficult period of time producing the next Amazon,
this technology is what I'm talking about. True livestream in-video, e-commerce. It's a combination of Zoom and Shopify and the
disruptive implications of this technology and value creation potential is virtually unlimited." Rory is talking about verb.TV
- - - - - -- - - - {- - - - - - - - - - - - NASDAQ - - - - - - - - - - - -} - - - - - - - - - - - - - { - - - - - - - Verb Technology - - - - - - - }
SEC Filings - Short Interest - Latest News - CHART - Analyst Reports - Verb - PRs - CEO Reports - Jobs
A Big Week For Longs! Verb's Last Conference Call Is The One We've All Been Waiting For!
* Did anyone catch the very end of the CC when Rory stated that a third of the businesses that had postponed launching verbCRM at the last moment of the fourth quarter have since launched? And,
*Multiple million dollar clients are currently in beta testing because of the Attribution Feature! And,
*Rory also stated that the company had already started reducing expenses and will continue to do so each quarter going forward until cash flow positive, and it might happen sooner than some people think.
This is very positive and probably due to the bulk of large projects nearing completion, such as the integrations for Salesforce and Microsoft, as well as software development costs for the Attribution Feature, MarketPlace and others, all of which needed to be complete before an all out marketing campaign could start.
* He also covered the Outlook integration with Microsoft and introduced verbMAIL, which he went over in the Benzinga video where it will be available for Google mail and others. And,
*Verb is hosting a live event THIS SUMMER when they will showcase the MarketPlace and go over all the new technology.
“Live stream ecommerce is coming to America – it’s going to marginalize most other forms of online commerce - and with our verbLIVE technology and related software products, we intend to be at the forefront of this massive shift,” said Rory J. Cutaia, CEO of VERB. “As I mentioned in our recent Letter to Shareholders in April, first quarter 2021 saw us sign the first of what we expect to be many new clients, each of which could generate $1 million in annual recurring revenue driven entirely by our verbLIVE products, as we now have many more in our sales pipeline. This year we’re seeing the average client and deal size increase dramatically, as our new products, coupled with increased awareness from solid marketing, allow us to target and attract larger businesses. We’re also adding many more salespeople as we have a clearly defined and accelerated path to ROI per sales rep. Our improved product development processes and more rapid product delivery cycles, together with new anticipated cost savings coupled with expected new revenue catalysts, have allowed us to begin formulating a plan that we believe will reduce our burn, quarter over quarter, reduce our reliance on outside capital, and move toward cash flow positive status"
Q1, 2021 Progress Report
---------------------------------------------------------------------------------------------------------------------------------------------
Latest Updates - Q2, 2021
TDAmeritrade states a $4.00 price target
One company that is well-positioned to benefit from the expected growth of livestream shopping in the U.S. is Verb Technology (NASDAQ:VERB), an emerging market leader in interactive video-based sales and marketing applications.
Microsoft Outlook Integration of VERB’s interactive video sales technology set for commercial release in mid-June among Company’s leading revenue catalysts
Mr. Cutaia will provide an overview of VERB’s strategy and market opportunities, its innovative sales enablement software-as-a-service (SaaS) product offerings, the upcoming commercial release of the integration of the Company’s interactive video sales technology with Microsoft Outlook (a platform with over one billion users), new hypergrowth initiatives in livestream eCommerce, and its strong Q1 2021 financial performance.
Presentation Date: Tuesday, June 8, 2021
Presentation Time: 12:00 p.m. ET / 9:00 a.m. PT (Track 3)
Event Registration Link: LD Micro Invitational XI
The three-day investor conference will be conducted on the Sequire Virtual Events platform and is expected to feature approximately 180 companies, as well as several influential keynote speakers, including Jaime Rogozinski, founder of WallStreetBets, Laurie Segall, former technology correspondent of CNNMoney, and Rishi Khanna, CEO of Stocktwits.
If you want to know more about Verb's MarketPlace go straight to 27.5 min into the video. "Cash Cow!"
3 of 3: Attribution and Live Webinars
2 of 3: Conversions, Government talks, Livestream eCommerce
1 of 3: Building a new business
I think this is just the beginning.
Presentation Date: Wednesday, May 19, 2021
Presentation Time: 12:15 p.m. ET / 9:15 a.m. PT
Presentation Link: sidoti.zoom.us/webinar/register/WN_QSMzonImRSm_nmNzljdg6Q
Presentation Time: 12:15 p.m. ET / 9:15 a.m. PT
Presentation Link: sidoti.zoom.us/webinar/register/WN_QSMzonImRSm_nmNzljdg6Q
NEWPORT BEACH, Calif. and SALT LAKE CITY, May 11, 2021 (GLOBE NEWSWIRE) -- Verb Technology Company, Inc. (NASDAQ: VERB) ("VERB" or the "Company"), a leader in interactive video-based sales enablement applications, including interactive livestream ecommerce, webinar, CRM and marketing applications for entrepreneurs and enterprises, today announced that it will host a conference call to discuss its financial results for the first quarter ended March 31, 2021 on Thursday, May 13, 2021 at 3:00 p.m. Eastern time (12:00 p.m. Pacific time). Financial results will be issued in a press release prior to the call.
VERB CEO Rory J. Cutaia and CFO Jeff Clayborne will host the conference call, followed by a question-and-answer period.
VERB Q1 2021 Earnings Call
Date: Thursday, May 13, 2021
Time: 3:00 p.m. Eastern time (12:00 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: 1-877-407-4018
International number: 1-201-689-8471
To access by webcast: A live and archived webcast will also be available.
Webcast link: public.viavid.com/index.php?id=144966
A telephonic replay of the conference call will be available after 6:00 p.m. Eastern time on the same day through Thursday, May 27, 2021.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13719830
Verb to be integrated with Outlook AND Gmail!
Q1 2021 unaudited projected results indicate more than 30% SaaS recurring revenue growth year over year
Microsoft Outlook integration with VERB’s interactive video sales technology now in public beta testing, with imminent commercial release
New product initiatives for verbLIVE to build leadership in growing and lucrative livestream ecommerce market
verbLIVE now fully integrated with the Salesforce platform and available on Salesforce AppExchange; winner of the Salesforce AppExchange Demo Jam Contest for best Salesforce productivity app
Accretive Solofire acquisition provides immediate entry into attractive healthcare and life sciences market
2020 SaaS recurring revenue up 82% year over year; total VERB platform user downloads up 250% to 1.93 million
NEWPORT BEACH, Calif. and SALT LAKE CITY, April 26, 2021 (GLOBE NEWSWIRE) -- Verb Technology Company, Inc. (Nasdaq: VERB) ("VERB" or the "Company"), a leader in interactive video-based sales enablement applications, including interactive livestream ecommerce, webinar, CRM and marketing applications for entrepreneurs and enterprises, released a letter to shareholders from Chairman & CEO Rory J. Cutaia. The complete letter, dated April 23, 2021, follows:
Dear Friends and Shareholders,
I wanted to take this opportunity to share my excitement with you as we drive toward the realization of our shared vision for your company – yes - your company – VERB is as much your company as it is ours. I’m referring to the vision that launched a multi-year journey culminating in the development of assets and the commercial release of products that we believe will produce both near-term and long-term value for you, our shareholders, whom we consider our co-owners, as well as for ourselves. Meaningful value. Indeed, virtually all of us here at VERB are shareholders, and as such, our interests are in complete alignment with yours.
Here’s what I will cover in this update:
Our 2020 Report Card – Performance Quantified and Achievements Recognized.
Our 2021 Performance Outlook – $15M more cash in the bank and Q1 off to an impressive start.
verbLIVE – The burgeoning market for livestream ecommerce coupled with accelerating changes in consumer behavior, and why I believe we are well positioned to lead this exciting and lucrative new ecommerce phenomenon.
Our 2020 Report Card
2020 SaaS Recurring Revenue – Up 82% over the prior year. The amount and rate of growth of SaaS recurring revenue are the most important measures of value for any software business. While we believe our 2020 rate of growth in our core business was impressive, especially in light of the challenges imposed by a global pandemic, we anticipate even greater growth this year.
Total User Downloads – up more than 250% over the same period last year. Now more than 1.93M.
We completed the accretive acquisition of SoloFire, a leading SaaS sales enablement platform for healthcare and life sciences sales. This acquisition provides us with immediate entry into the lucrative medical and life sciences sales market, which we believe is one of the largest and fastest growing markets for the sales enablement software industry. 2020 proforma revenue for that platform was $1M, though we were only able to recognize $130,000 in 2020 due to GAAP revenue recognition rules. However, we will be able recognize most of that revenue this year together with the anticipated and ongoing additional sales growth we expect to generate from that new vertical.
verbLIVE now fully integrated with the Salesforce platform and available on Salesforce AppExchange.
VERB was the winner of the Salesforce AppExchange Demo Jam Contest for best Salesforce productivity app.
In July 2020, we closed an underwritten public offering of common stock without warrants for gross proceeds of $13.8M to beef up our balance sheet.
VERB was selected for inclusion in the Russell Microcap® Index.
Our 2021 Performance Outlook – Q1 off to an impressive start
Our Microsoft Outlook integration of VERB interactive video sales technology is now in public beta testing, with imminent commercial release. Our Microsoft Outlook VERB App add-in availability is anticipated through Microsoft’s Commercial Marketplace and Co-Sell program with Microsoft’s field sales reps. Assuming we can gain access to Microsoft’s Co-Sell program, which based on our communications with Microsoft appears likely, this may be one of the most important revenue and value creators our Company may experience this year and beyond, among a strong field of very promising catalysts.
Q1 2021 unaudited projected results indicate more than 30% SaaS recurring revenue growth over Q1 2020 and up more than 10% over Q4 2020.
We launched verbTEAMS for small businesses and solo entrepreneurs, a new self-onboarding content management and customer relationship management platform with integrated verbLIVE livestream ecommerce capability and one-click synchronization to Salesforce.
Healthy Balance Sheet – Last month we closed a registered direct offering for straight common shares – with no warrants - for gross proceeds of $15M to further enhance our balance sheet.
VERB’s sales enablement platform was ranked #1 by Social Selling News. We led the list with over 100 direct selling clients - almost double our closest would-be competitor, confirming our dominant position as the best performing, most requested sales platform for the direct selling industry.
ESG – We have accelerated our environmental/social/governance initiatives here at VERB, demonstrating with actions – not just – words – that companies at any level, at any scale, can and should take responsibility for change – real change – change that leaves our world in a better place than where we found it – for ourselves and our children. This year we’ve already undertaken a number of ESG initiatives, including helping entrepreneurs and small companies all over the country recover from the impact of COVID-19 on their businesses; we’ve also helped young Olympic hopefuls realize their dreams, and in so doing inspire so many others, among many, many other initiatives through our Verb For Humanity project.
verbLIVE
Marketplace – How do you take livestream ecommerce technology and make it even more fun, engaging, social, entertaining, compelling, and lucrative? Create a 24/7 online destination where anyone can go to experience scores of simultaneous interactive livestream presentations hosted by retailers, consumer brands and influencers across numerous categories, where viewers/customers/fans and followers can go in and out of live events, converse with hosts and other shoppers in real time - browse, shop, chat and simply enjoy the experience of the next generation of livestream ecommerce. That’s VERB MARKETPLACE - it’s built and in active beta testing with numerous retailers. This will be a new revenue model for us as we will participate in the volume of sales generated through the platform.
Attribution Technology – We are nearing completion of our Attribution Technology which we believe elevates the already exciting livestream ecommerce experience to greater heights. Think about the benefits of an affiliate marketing program on steroids. With our attribution feature, sales reps can invite their clients, customers, and prospects to watch a colleague’s verbLIVE event knowing they will get credit for any purchases made by their clients, customers, or prospects at their colleague’s verbLIVE event. Think about how this will drive conference attendance and revenue generation, among other revenue generating applications and opportunities. And think about how this technology will impact participation in VERB MARKETPLACE. This is our technology; we developed it and it further demonstrates our commitment to the leadership position in the new generation of SaaS sales enablement and ecommerce paradigm.
$1M a year clients. This year we’re seeing the average client and deal size increase dramatically, as we target and attract larger businesses for our products and services. We’ve now signed our first $1M-a-year revenue potential client, driven by our verbLIVE product and have several more in our sales pipeline. We’re also adding many more salespeople as we have a clearly defined path to ROI per sales rep.
In addition, we’ve recently added several product professionals, creating a deeper bench for our product teams, and revamped our entire development team and processes, moving to an agile environment which has not only resulted in a more efficient, effective, rapid, and higher quality development cycle, but also resulted in significant cost savings. These cost savings will help us execute our current plan to reduce our burn and drive aggressively toward cash flow positive status through a reduction in operating expenses quarter over quarter, coupled with higher topline revenue generation.
I’m also happy to report that our shareholder base has expanded dramatically – almost three-fold - from individual retail investors, to a broad array of funds, family offices, and other institutional investors, which now comprise more than 12,500 shareholders.
We have built greater liquidity where we regularly see trade volume average more than 1.8 million shares per day. We attribute this to the greater awareness we’ve generated among the investment community, coupled with the passion and loyalty of our long-term shareholders, without whose support, none of our accomplishments could have been possible.
The senior management team of our Company, including our Board of Directors, believe deeply in the future of our Company and the meaningful value we intend to unlock together. We believe that is evidenced by the fact that none of us has sold a single share of the Company’s stock as well as the fact that much of our compensation is comprised of VERB shares in lieu of cash.
We also recognize that value doesn’t happen overnight, and there will be volatility along the road. But we continue to build assets, develop leading-edge, monetizable technology, invest in accretive acquisitions, and attract and recruit top-tier talent, as our people remain the heart and soul of VERB.
We are now close to 200 strong and we all live and breathe VERB every day, driven by the excitement of what we’re building for you and us, and motivated by the tangible progress that we now see each and every week. In closing, I thank you for your continued trust and support. We’re making this happen – together.
Sincerely,
Rory J. Cutaia
Chairman & CEO
Verb Technology Company, Inc.
This is big!
Falling consumer demand, reduced entertainment spending, and stay-at-home orders mandating certain businesses stay closed continue to take their toll on a retail industry that has been struggling for the past several years as consumers pivot to online shopping.
* The decrease in digital revenue is primarily attributed to the impact of COVID-19 on many of our customers, which magnified what is traditionally a business slowdown during holiday season. We also experienced an unusual loss of several customers which had a direct impact on our 4th quarter recurring revenue. Notably, however, as the year drew to a close, as of December 31, 2020, we had begun to see a meaningful uptick and return to more normalized business and sales activity with 14 new clients under contract that will launch in 2021, at which time we will recognize that revenue. Overall, we signed 62 new clients in 2020, representing approximately $3.0 million of minimum contract value.
Three Months Ended March 31, 2021 – (UNAUDITED PROJECTED)
Total Digital unaudited projected revenue was $1.8 million, an increase of 24% over the same period last year, and already over 20% of Q4 2020
Total SaaS recurring unaudited projected revenue (a component of total Digital revenue) was $1.4 million,
an increase of 30% over the same period last year and already over 10% of Q4 2020
SaaS recurring unaudited projected revenue as a percentage of total Digital revenue was 79%, compared with 73% for the same period last year. more
Total Digital unaudited projected revenue was $1.8 million, an increase of 24% over the same period last year, and already over 20% of Q4 2020
Total SaaS recurring unaudited projected revenue (a component of total Digital revenue) was $1.4 million,
an increase of 30% over the same period last year and already over 10% of Q4 2020
SaaS recurring unaudited projected revenue as a percentage of total Digital revenue was 79%, compared with 73% for the same period last year. more