VERB Reports Record-Breaking Digital Revenues in 2020 Third Quarter Financial Results
NEWPORT BEACH, Calif. and SALT LAKE CITY, Nov. 16, 2020 (GLOBE NEWSWIRE) -- VERB Technology Company, Inc. (Nasdaq: VERB) ("VERB" or the "Company"), a leader in interactive video-based sales enablement applications, including interactive livestream ecommerce, webinar, CRM, and marketing applications for entrepreneurs and enterprises, today reported financial and operating results for the three months ended September 30, 2020.
“The third quarter continues what has been a tremendously successful 2020 for VERB,” said Rory J. Cutaia, CEO of VERB. “We’ve now delivered six consecutive quarters of SaaS revenue growth and we’re reporting our highest level of quarterly digital revenue to date. Our successful financial results reflect our continued focus on our higher-margin SaaS business applications.
“While our third quarter results demonstrate the continued growth in adoption and deployment of our verbCRM application among large sales enterprises, verbLIVE, our interactive video-based livestream ecommerce and webinar product, continues to draw significant interest, setting the stage for what we expect will be explosive revenue growth throughout 2021.
“We also successfully completed several strategic initiatives during the quarter. We completed the accretive acquisition of SoloFire, which gives us an immediate entry into the lucrative medical and life sciences sales market. We completed the integration of verbLIVE into the Salesforce platform. We also completed the inclusion of verbLIVE in the Salesforce AppExchange marketplace, expanding our distribution channels by making verbLIVE available to all Salesforce users. We significantly increased the number of user downloads both sequentially and year over year, and during today’s earnings call, we will announce several hyper-growth initiatives to drive revenue during the balance of this year and throughout 2021 and beyond,” Mr. Cutaia continued.
Third Quarter 2020 and Recent Company Highlights
Conference Call Information
VERB management will hold a conference call on Monday, November 16, 2020, at 5:30 PM Eastern time, to discuss its results in greater detail. A telephonic replay of the conference call is available from 8:30 PM Eastern time on the same day through November 30, 2020.
The Company filed its Form 10-Q on November 16, 2020 and will file a transcript of the conference call on Form 8-K. These filings can be viewed in the Investor Relations section of VERB’s website.
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