VERB Continues SaaS Recurring Revenue Growth Year-Over-Year

SaaS recurring income grew 26% 12 months over 12 months and 10% sequentially3 New ‘Hyper Growth’ Products launched in Q2 together with: verbMAIL video e-mail resolution for Microsoft Outlook – Gmail model comingpowerful Attribution characteristic added to verbLIVE creating an affiliate internet marketing element, rising whole addressable market exponentiallyPULSE, an AI/BI-based characteristic set that tracks prospect interactions then educates salespeople whereas it automates the promoting course of VERB Marketplace [codename], a web based vacation spot for livestream buying, is in lively beta testing with a number of retailers NEWPORT BEACH, Calif. and SALT LAKE CITY, Aug. 16, 2021 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), the chief in interactive video-based gross sales enablement functions, together with interactive livestream ecommerce, webinar, CRM and advertising and marketing functions for entrepreneurs and enterprises, at present reported monetary and working outcomes for the second quarter and 6 months ending June 30, 2021. Management Commentary “It’s been a really thrilling time for us at VERB. Since we final reported in May, we have now made a number of milestone bulletins that spotlight our stable progress in delivering best-in-class sales-driving expertise and functions,” stated Rory J. Cutaia, CEO of VERB. “We launched verbMAIL for the Microsoft Outlook platform, a revolutionary video e-mail resolution that makes our proprietary interactive video expertise obtainable to over one billion Outlook customers, turning a favourite contact administration instrument into a favourite gross sales instrument. We introduced a significant partnership with Market America Worldwide | SHOP.COM, for the deployment of our verbLIVE livestream ecommerce software to over 100,000 distributors globally, and launched it with our Attribution characteristic all through Asia, Europe and North America in July. We additionally introduced the same partnership this quarter with NewAge, Inc., a direct-to-consumer (D2C) gross sales firm, so as to add as much as 600,000 distributors on our platform in 75 nations. “And we launched PULSE, our latest gross sales enablement platform characteristic. It’s like a gross sales coach in your pocket monitoring your interactions together with your prospects and telling you what to do subsequent to shut that sale. “For the second quarter, our SaaS recurring income grew 26% 12 months over 12 months and 10% from the earlier quarter. Our outcomes don’t embody contributions from any of the lately introduced merchandise and partnerships, however we count on these to supply a optimistic income affect within the coming quarters. “We consider that our expertise and suite of gross sales enablement options give us a transparent aggressive benefit and place us to guide the burgeoning high-growth livestream ecommerce sector, which has already seen super success in Asia and which we consider is ready to realize floor within the U.S. and different markets. In addition to launching verbLIVE with Market America and a number of gross sales functions with NewAge, Inc., we’re persevering with to construct a strong gross sales pipeline concentrating on bigger companies that may speed up product adoption and enhance annual recurring revenues. “We proceed to enhance on our choices, fine-tuning and elevating, and including new, value-enhancing, modern options and merchandise that may proceed to permit us to ship the business main gross sales enablement instruments our shoppers and prospects have come to count on from us. We are additionally including gross sales and advertising and marketing professionals to reply to the rising demand we’re cultivating whereas concurrently rising product penetration amongst present shoppers. We are persevering with to ship paradigm-shifting expertise and merchandise which characterize long-term, value-creating income catalysts that drive our progress and enhance shareholder worth. We are excited to report on our continued progress for the rest of the 12 months.” Second Quarter 2021 Financial Results and Recent Company Highlights Total SaaS recurring income (a element of Total Digital income) was $1.6 million, up 26% 12 months over 12 months, and up 10% over Q1 2021.SaaS recurring income as a proportion of Total Digital income was 88%, in contrast with 76% for a similar interval final 12 months and up over the 81% we reported in Q1 2021.Total Digital income of approx. $1.8 million, up 8% 12 months over 12 months.Total mixed income of approx. $2.4 million represents the ten% progress in our SaaS recurring income over final quarter and 26% over final 12 months, and a discount in income from the legacy printing and achievement aspect of our enterprise of roughly $400K since final 12 months as that element of our enterprise is pushed by our shoppers’ in-person conferences and gross sales occasions which have been basically non-existent because of the persevering with results of COVID.Added 12 new shopper contracts with a assured base worth of $715,000 and anticipated annual recurring income of $405,000. However, these numbers do NOT embody the expanded income we count on to acknowledge from present shoppers who’ve lately launched and people which might be about to launch verbLIVE with Attribution, which ought to add not lower than a further $1 million, conservatively, in annual recurring income.Total consumer downloads now at 2.8M, up greater than 75% over the 1.6M reported in identical interval final 12 months, and up from roughly 2.0M as of May 13, 2021, which represents a rise of 40% in simply the final 90 days.Research and growth bills have been $3.2 million, in contrast with $1.6 million for a similar interval final 12 months, with the rise attributed to the event of verbLIVE, VERB’s new Attribution characteristic, product enhancements to verbCRM, the Microsoft Outlook integration and the forthcoming new Marketplace platform, amongst different as but unannounced options and merchandise.General and administrative bills have been $6.5 million, in contrast with $4.0 million for a similar interval final 12 months, with the rise attributed to labor-related prices to assist progress, advertising and marketing bills, skilled companies, in addition to bills associated to a further quarter of SoloFire operations following the acquisition.Cash on the steadiness sheet totaled $6.4 million as of June 30, 2021, in contrast with $1.8 million on December 31, 2020.Announced the final industrial launch of verbMAIL for Microsoft Outlook, which supplies interactive video e-mail capabilities for Outlook customers who can now add interactive clickable buttons and icons proper within the video for easy-click buying by viewers (“Buy-It-Now”), scheduling appointments, downloading or viewing product literature and media, and plenty of different gross sales enabling interactions. Partnered with Market America Worldwide | SHOP.COM to launch SHOP LIVE™, powered by verbLIVE, offering its international distributors with their very own livestreaming channel to simply reveal and promote merchandise to present or potential prospects at any time.Partnered with NewAge, Inc. for supply of their gross sales enablement app to be used by as much as 600,000 of their model companions and distributors in 75 nations to assist enhance buyer engagement and gross sales conversion charges. The app consists of buyer relationship, content material, and studying administration techniques, and they’re anticipated so as to add verbLIVE, our livestream buying app in September 2021.Introduced a brand new, highly effective Attribution characteristic to verbLIVE, which provides affiliate internet marketing expertise to permit anybody to obtain credit score for purchases made by their referrals to verbLIVE classes hosted by others, which we count on will drive attendance and revenues exponentially.Introduced PULSE, an AI/BI-based characteristic set that tracks prospect interactions then educates salespeople whereas it automates the promoting course ofNew VERB platform [codename] Marketplace, a brand new 24/7 on-line buying vacation spot, is in lively beta testing with a number of retailers. Simultaneous interactive livestream classes hosted by retailers, shopper manufacturers, and influencers throughout quite a few classes will comprise Marketplace, making a enjoyable, partaking and social buying expertise for customers and hosts alike. Six Months Ended Financial Results Total SaaS recurring income (a element of Total Digital income) was $3.1 million, up 31% 12 months over yearSaaS recurring income as a proportion of Total Digital income was 85%, in contrast with 74% for the primary 6 months of 2020.Total Digital income of approx. $3.6 million, up 15% 12 months over 12 months.Research and growth bills have been $6.1 million, in contrast with $2.9 million for a similar interval final 12 months, with the rise attributed to the event of verbLIVE, VERB’s new Attribution characteristic, product enhancements to verbCRM, the Microsoft Outlook integration, the forthcoming new Marketplace platform, amongst different as but unannounced options and merchandise.General and administrative bills have been $13.9 million, in contrast with $7.5 million for a similar interval final 12 months, with the rise attributed to non-cash inventory compensation expense, labor-related prices to assist progress, skilled companies, advertising and marketing bills, in addition to bills associated to SoloFire operations following the acquisition.Subsequent to the top of the quarter, the Company transformed all remaining 1,706 most well-liked shares into shares of the Company’s widespread inventory. As a end result, there are not any extra shares of most well-liked inventory excellent. Conference Call Information VERB administration will maintain a convention name at present, August 16, 2021, at 5:00 p.m. Eastern time, to debate second quarter 2021 leads to larger element. A telephonic replay of the convention name is on the market from 8:00 p.m. Eastern time at present via August 30, 2021. VERB Q2 2021 Earnings Call Date: Monday, August 16, 2021Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)To entry by cellphone: Please name the convention phone quantity 10-Quarter-hour previous to the beginning time. An operator will register your identify and group. U.S. dial-in quantity: 1-877-300-8521International quantity: 1-412-317-6026 To entry by webcast: A reside and archived webcast will even be obtainable. Webcast hyperlink: http://public.viavid.com/index.php?id=146228 Replay:Toll-free replay quantity: 1-844-512-2921International replay quantity: 1-412-317-6671Replay ID: 10159398 About VERBVerb Technology Company, Inc. (Nasdaq: VERB) transforms how companies entice and have interaction prospects. The Company’s Software-as-a-Service, or SaaS, platform is predicated on its proprietary interactive video expertise, and includes a set of gross sales enablement enterprise software program merchandise supplied on a subscription foundation. Its software program functions can be found in over 60 nations and in additional than 48 languages to massive enterprise and small enterprise gross sales groups that want reasonably priced, easy-to-use, and quick-to-get-results gross sales instruments. Available in each cellular and desktop variations, the functions are supplied as a totally built-in suite, in addition to on a standalone foundation, and embody verbCRM (Customer Relationship Management software), verbLIVE (Interactive Livestream eCommerce and Video Webinar software), verbTEAMS (a Self On-boarding model of verbCRM with built-in verbLIVE and Salesforce synchronization for small companies and solo entrepreneurs), verbLEARN (Learning Management System software), and verbMAIL (an interactive video mail resolution built-in seamlessly into Microsoft Outlook). The Company has places of work in California and Utah. For extra info, please go to: www.verb.tech. Follow VERB right here:VERB on Facebook: https://www.facebook.com/VerbTechCo/VERB on Twitter: https://twitter.com/VerbTech_CoVERB on LinkedIn: https://www.linkedin.com/company/verb-tech/VERB on YouTube: https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQDownload verbMAIL right here: verbMAIL on Microsoft AppSource Store FORWARD-LOOKING STATEMENTSThis communication comprises “forward-looking statements” as that time period is outlined within the Private Securities Litigation Reform Act of 1995. Forward-looking statements contain dangers and uncertainties and embody, with out limitation, any assertion which will predict, forecast, point out or indicate future outcomes, efficiency or achievements, and should include phrases corresponding to “anticipate,” “count on,” “challenge,” “plan,” or phrases or phrases with comparable which means. Forward-looking statements contained on this press launch relate to, amongst different issues, the Company’s projected monetary efficiency and working outcomes, together with SaaS Recurring Revenue, in addition to statements relating to the Company’s progress in the direction of attaining its strategic aims, together with the profitable integration and future efficiency of acquisitions and efficiency of SoloFire. Forward-looking statements are based mostly on present expectations, forecasts and assumptions that contain dangers and uncertainties, together with, however not restricted to the COVID-19 pandemic and associated public well being measures on our enterprise, prospects, markets and the worldwide economic system; our plans to draw new prospects, retain present prospects and enhance our annual income; the event and supply of latest merchandise, together with verbLIVE; our plans and expectations relating to software-as-a-service choices; our means to execute on, combine, and understand the advantages of any acquisitions; fluctuations in our quarterly outcomes of operations and different working measures; rising competitors; normal financial, market and enterprise situations. If any of those dangers or uncertainties materialize, or if any of our assumptions show incorrect, our precise outcomes might differ materially from the outcomes expressed or implied by these forward-looking statements. Investors are referred to our filings with the Securities and Exchange Commission, together with our Annual Reports on Form 10-Ok and Quarterly Reports on Form 10-Q, for extra info relating to the dangers and uncertainties which will trigger precise outcomes to vary materially from these expressed in any forward-looking assertion. All forward-looking statements on this press launch are based mostly on info obtainable to us as of the date hereof, and we don’t assume any obligation to replace the forward-looking statements supplied to replicate occasions that happen or circumstances that exist after the date on which they have been made, besides as required by legislation. Investor Relations Contact:[email protected] Contact:855.250.2300, [email protected]


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