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VERB Publishes Management's Prepared Remarks During Fourth Quarter and Full Year 2024 Earnings Call
Newsfilterยท 2025-03-25 17:15
Core Viewpoint - Verb Technology Company, Inc. has reported significant revenue growth and strategic restructuring efforts, transitioning from a direct sales SaaS model to a diversified business model focused on social commerce, telehealth, and crowdfunding platforms [1][19][23]. Financial Performance - For the full year 2024, Verb generated total revenue of $895 thousand, marking an increase of $832 thousand or 1,321% compared to 2023 [19]. - In Q4 2024 alone, revenue reached $723 thousand, an increase of $694 thousand or nearly 2,400% year-over-year, and a quarter-over-quarter growth of approximately 465% compared to Q3 2024 [20]. - The company anticipates that Q1 2025 will exceed the revenue of Q4 2024, indicating continued growth momentum [20]. Strategic Initiatives - The company has executed a multi-pronged strategy to restructure and reinvent itself, which includes selling its direct sales SaaS business and focusing on new revenue-generating units such as MARKET.live, VANITY Prescribed, and GoodGirlRx [9][15][23]. - Verb has successfully insulated itself from unfavorable capital market conditions by utilizing Reg A for capital raises, resulting in a debt-free balance sheet and a positive shareholder equity of over $16 million as of December 2024 [12][25]. - The acquisition of LyveCom is expected to enhance operational efficiency, with anticipated cost reductions of approximately $1 million per year, while also expanding the capabilities of the MARKET.live platform [22][23]. Business Units and Growth Potential - MARKET.live has shown exponential revenue growth, with Q4 2024 revenue reaching $490 thousand, up from $103 thousand in Q3 2024 [18]. - The telehealth initiatives, including VANITY Prescribed and GoodGirlRx, are positioned to capitalize on the growing demand for telehealth services, particularly with the introduction of new weight-loss drugs [15][17]. - The crowdfunding platform, GO FUND YOURSELF, generated $233 thousand in revenue in Q4 2024, showcasing its rapid growth potential [15]. Market Position and Future Outlook - Verb's strategic shift has positioned it as a well-capitalized and diversified business, ready for continued growth in the evolving landscape of social commerce and telehealth [23]. - The company emphasizes its strong financial position, with under 1 million shares outstanding and over $13 million in cash and liquid securities, suggesting a compelling investment opportunity [25].