From GlobeNewswire: 2025-03-25 08:30:00

Verb Technology Company, Inc. (Nasdaq: VERB) reported Quadruple Digit % Gains Year-Over-Year and Triple Digit % Gains Quarter-Over-Quarter in its 2024 Form 10-K. Total revenue was $895 thousand, a 1,321% increase over the previous year. The Company is debt-free with $13.50 cash value per common share and projects increased growth for Q1 2025.

For the quarter ended December 31, 2024, VERB reported total revenue of $723 thousand, a 2,393% increase from the prior year. This enormous revenue growth is attributed to recent operational and marketing changes. The Company’s net loss from continuing operations was reduced by $4.3 million, representing a 29% improvement over the prior year.

Revenue for the quarter ended December 31, 2024, was $723 thousand, a 465% increase over the previous quarter. This growth is primarily driven by the MARKET.live business unit services packages and the newly-formed Go Fund Yourself business unit. The Company’s strong cash position is expected to fund operations into 2028 and beyond.

Depreciation and amortization expenses for the year ended December 31, 2024, were $1,077, a decrease from $2,331 the previous year. General and administrative expenses were $11,238 for 2024, down 2% from 2023. Other income (expense), net was $1,134 for 2024, primarily due to other income and interest income offset by financing costs.

As of December 31, 2024, VERB had a cash balance of $7.6 million, restricted cash of $878 thousand, and total investments of $13.4 million. The Company also received $1.7 million of its ERC short-term receivable post-December 31, 2024. VERB CEO Rory J. Cutaia will hold a conference call on March 25, 2025, to discuss the 2024 results and strategic plans for 2025.



Read more at GlobeNewswire:: VERB Delivers Remarkable 2024 Financial Performance