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LAS VEGAS - Verb Technology Company, Inc. (NASDAQ: VERB), a company specializing in interactive video-based social commerce with a current market capitalization of $5.49 million, has reported a significant revenue increase for the full year ending December 31, 2024. According to the details in its Form 10-K filed today, the company experienced a 1,321% growth in revenue over the previous year, totaling $895 thousand. According to InvestingPro analysis, the stock is currently trading slightly below its Fair Value.
The company’s CEO, Rory J. Cutaia, highlighted the strategic shift from a Software as a Service (SaaS) platform primarily serving direct sales companies to a diversified business model focusing on social commerce, telehealth, and crowdfunding platforms. This transition included the sale of the SaaS business unit in June 2023 and the launch of MARKET.live, their livestream shopping business, which has shown exponential revenue growth.
Verb Technology has also taken steps to strengthen its financial position, moving from a nearly $2 million negative shareholder equity in June 2023 to more than $16 million positive by December 2024. The company’s balance sheet now boasts over $13 million in cash and liquid securities, with a cash runway extending well into 2028, assuming no revenue growth. InvestingPro data confirms this financial strength, showing a healthy current ratio of 4.05 and minimal debt-to-equity ratio of 0.02, though analysts note the company is quickly burning through its cash reserves.
In addition to financial restructuring, Verb Technology has diversified its revenue streams with the introduction of VANITY Prescribed and GoodGirlRx, both telehealth portals. The company also developed GO FUND YOURSELF, a social crowdfunding platform that integrates with a TV show, allowing viewers to invest in presenting companies in real-time.
The acquisition of LyveCom, a start-up with proprietary A.I. technology tailored to video-based social commerce, is expected to further enhance Verb’s platform capabilities and operational efficiency. The company anticipates this acquisition will be highly accretive and generate substantial value for shareholders.
Verb Technology’s aggressive restructuring and diversification strategy have culminated in a debt-free balance sheet and a tightly controlled share float. With the closing of the LyveCom acquisition on the horizon, the company is poised for continued growth and value creation for its shareholders. However, InvestingPro analysis indicates an overall weak financial health score of 1.69 out of 10, with 12 additional key insights available to subscribers, including detailed profitability metrics and growth projections.
The information in this article is based on a press release statement from Verb Technology Company, Inc.
In other recent news, Verb Technology Company, Inc. announced its entry into the telehealth sector with the launch of GoodGirlRx.com. This new venture, developed in partnership with lifestyle personality Savannah Chrisley, aims to provide fixed-price telehealth services and medications without hidden fees or inflated costs. The platform offers a straightforward healthcare experience by eliminating membership costs and pharmaceutical markups. Rory J. Cutaia, CEO of Verb Technology, emphasized the company’s commitment to reducing excessive healthcare markups and ensuring patients receive necessary treatments without financial strain. GoodGirlRx.com is already operational and serving customers, promoting a direct-to-consumer approach for essential medications. This move is part of Verb Technology’s broader strategy to leverage its technological expertise in various sectors. The company is known for its multi-vendor livestream social shopping platform, MARKET.live, and its interactive social crowdfunding platform, GO FUND YOURSELF!. Verb Technology’s expansion into telehealth reflects its ongoing efforts to innovate and adapt its technology to new markets.
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