Verb(US:VERB)2025-03-25 21:35Financial Data and Key Metrics Changes - For the full year 2024, the company generated total revenue of $895,000, an increase of $832,000 compared to 2023, representing a growth of 1,321% [18] - In Q4 2024, revenue reached $723,000, an increase of $694,000 year-over-year, indicating a growth of almost 2,400% [19] - Quarter-over-quarter, Q4 revenue increased by $595,000, representing growth of almost 465% compared to Q3 2024 [19] - The company reported a positive shareholder equity of over $16 million as of December 2024, up from almost $2 million negative in June 2023 [13] Business Line Data and Key Metrics Changes - The company transitioned from a direct sales SaaS model to a focus on interactive social video commerce, leading to significant revenue growth [10][15] - The launch of the GO FUND YOURSELF crowdfunding platform generated $233,000 in revenue in Q4, up from $25,000 in Q3 [15] - The MARKET.live platform showed exponential revenue growth, with Q4 revenue of $490,000 compared to $103,000 in Q3 [17] Market Data and Key Metrics Changes - The company is entering the telehealth market with products like VANITY Prescribed and GoodGirlRX, anticipating significant growth due to the adoption of new weight-loss drugs [16] - The overall market conditions for small and micro-cap companies have been challenging, impacting previous business strategies [5][12] Company Strategy and Development Direction - The company has implemented a multi-pronged strategy to restructure and diversify its revenue streams, focusing on complementary business units [14] - A significant part of the strategy includes the acquisition of LyveCom to enhance AI capabilities and reduce operational costs by approximately $1 million per year [21][22] - The company aims to position itself as a leader in the social commerce space, leveraging its technology to provide solutions for brands [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's future, expecting Q1 2025 revenue to surpass Q4 2024 [19] - The CEO highlighted the importance of adapting to market conditions and the need for a robust AI strategy to remain competitive [20] Other Important Information - The company has successfully eliminated debt and has a cash position of over $13 million, providing a strong financial foundation for future growth [23][24] - The reverse stock split has resulted in a tight share float of less than 1 million shares, enhancing shareholder value [13] Q&A Session Summary - No specific questions or answers were recorded in the provided content, indicating the conclusion of the teleconference [26]