Verb Technology Company Inc (NASDAQ: VERB) is surging northbound in recent trading on increasing volume since the Company raised $12.3 million via a public offering. VERB is exciting and a proven runner that saw a historic rise back in early 2018 when it was trading as FUSZ. When a stock like VERB heats up; invesors pay attention.
Investors are accumulating VERB at current levels and it’s easy to see why; the stock is cheap and the Company continues to report record revenues with the last quarter representing the highest number of new enterprise clients signed during a quarter in the Company’s history. The most exciting aspect of VERB is VERB Live, its next-generation webinar platform that takes broadcasting and live stream selling to a new level with its proprietary, on-screen, interactive e-commerce capabilities.
Verb Technology Company Inc (NASDAQ: VERB) is rapidly emerging as the market leader in interactive video data collection and analysis applications. The Company’s proprietary and patent pending technology produces real-time, measurable results with customers reporting greater than 600% increases in conversion rates. The Company’s software-as-a-service (SaaS) products are cloud-based, accessible on all mobile and desktop devices, and are available by subscription for individual and enterprise users. The Company’s technology is integrated into popular ERP, CRM, and marketing platforms, including Oracle NetSuite, Marketo, Salesforce, Odoo, and Microsoft among others. Verb is disrupting CRM, the largest and fastest growing software market and has created a new breed of highly effective industry specific tools challenging outdated methologies for Sales, Education and Data Collection.
VERB has offices in California and Utah and provides subscription-based application services to approximately 100 enterprise clients for use in over 60 countries, in over 48 languages, which collectively account for a user base generated through more than 1.4 million downloads of its verbCRM application. The Companies technology is also being integrated into popular ERP, CRM, and marketing platforms offered by third-party developers, including Salesforce and Microsoft, among others.
VERB continues to report record numbers; for the three months ended June 30, 2020, the Company reported preliminary Software as a Service (SaaS) recurring subscription revenue of approximately $1,264,000, up from $1,057,000 reported in first quarter 2020; total digital revenue of approximately $1,668,000, up from $1,457,000 reported in first quarter 2020; total non-digital revenue of approximately $941,000, up from $897,000 reported in first quarter 2020; and total combined revenue of approximately $2,609,000, up from $2,354,000 reported in first quarter 2020.
CEO, Rory J. Cutaia stated: “We believe this was a record breaking quarter for Verb across almost all revenue sources and is particularly meaningful as we achieved these results during a very difficult time in the economy at large due to COVID-19. Tbis quarter also represents the highest number of new enterprise clients we signed during a quarter in the Company’s history. Notably, due to COVID-related social distancing, these results were achieved by our teams working remotely using our own technology – we call it ‘eating our own chili’.”
— Shemar anglin † (@S_AnglinIV) July 21, 2020
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Microcapdaily first reported on nFusz, Inc. on October 1, 2018 long before the Company changed its name to Verb Technology Company, Inc., effectuated a 1-for-15 reverse stock split and up listed to the NASDAQ. We noted back in 2018 “FUSZ is reinventing the way a message is expressed, received, and responded-to… by providing interactive communication tools, limited only by the creator’s imagination. Based in Los Angeles, nFusz was originally organized as Cutaia Media Group and through multiple mergers and a name change became nFusz in 2017. The Company is led by Rory J. Cutaia, an attorney from NYC who founded Telx, that became the internationally recognized leader in the data center sector which he later sold for $200 million. Mr. Cutaia was also a partner at the Corinthian Capital Group, a private equity firm that invested in middle market companies and he currently owns 32.1% of FUSZ.”
In November 2019 VERB launched the newest product on its industry-leading digital platform: VERB Live.VERB LIVE takes broadcasting and live stream selling to a new level with its proprietary, on-screen, interactive e-commerce capabilities. VERB Live is a next-generation webinar platform that allows the webinar host to place interactive icons on the screen that all viewers can click on to purchase products or services, in real-time, among many other interactive sales-driving features. Because it is browser-based, it works on all devices and requires no resource-hungry, performance-killing downloads.
VERB CEO Rory J. Cutaia stated at the time “With VERB Live, we’re fulfilling our commitment to provide our customers with the most effective sales tools available in the market today. This product offers many of the same features as the leading webinar tools on the market today, but takes features, functionality, engagement, and effectiveness a step above with real-time interactivity and access to audience data metrics. Simply put, there isn’t another product available today that can compete with this new offering. Going forward, we’ll look to provide additional updates related to our planned, large-scale rollout in early 2020.”
ON July 24, 2020, the Public Offering closed, and the Company issued and sold 12,545,453 shares of Common Stock. The net proceeds to the Company, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, are expected to be approximately $12.3 million.
Engage and personalize the selling experience, LIVE. Verb LIVE. pic.twitter.com/LBO2ZSKysy
— VERB (@VerbTech_Co) July 21, 2020
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Currently on the move upwards since raising $12.3 million in a public offering VERB is an exciting story developing in small caps; an emering leader in interactive video data collection, the Compnay is disrupting CRM, the largest and fastest growing software market and has created a new breed of highly effective industry specific tools challenging outdated methologies for Sales, Education and Data Collection. The most exciting aspect of VERB is VERB Live, its next-generation webinar platform that takes broadcasting and live stream selling to a new level with its proprietary, on-screen, interactive e-commerce capabilities. VERB is at the right place at the right time and a proven runner that saw a historic rise back in early 2018 when it was trading as FUSZ. With the public offering behind it and the crm space heating up its easy to see why investors are accumulating VERB here. Microcapdaily first reported on nFusz, Inc. on October 1, 2018 long before the Company changed its name to Verb Technology Company, Inc. We will be updating on VERB when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with VERB.
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Disclosure: we hold no position in VERB either long or short and we have not been compensated for this article.