Verb Technology Company, Inc. reported significant financial growth in its 10-K filing for the fiscal year ending December 31, 2024. The company generated revenue of $895,000, a substantial increase of 1,321% compared to $63,000 in the previous year. This growth is primarily attributed to the success of its MARKET.live business unit, which focuses on interactive video-based social commerce, and the newly launched Go Fund Yourself crowdfunding platform. Despite the revenue increase, Verb Technology reported a net loss of $10.5 million, an improvement from the $14.8 million loss recorded in 2023.
The company has undergone notable strategic changes, including the acquisition of LyveCom, an AI-driven video commerce platform, which is expected to enhance its MARKET.live offerings. The integration of LyveCom's technology is anticipated to provide an omnichannel livestream shopping experience, allowing brands to engage customers across various platforms. Additionally, Verb Technology has expanded its partnerships, particularly with TikTok, enhancing its service offerings and customer reach.
Operationally, Verb Technology has made strides in customer engagement and product adoption. The company has reported a significant increase in user engagement metrics, particularly through its MARKET.live platform, which allows brands to conduct livestream shopping events across multiple social media channels. As of March 2025, Verb Technology employed 18 full-time staff and engaged several independent contractors to support its operations, reflecting a lean operational structure aimed at maximizing efficiency.
The company’s liquidity position has improved, with cash and liquid investments totaling approximately $13.4 million as of December 31, 2024, compared to $4.4 million in the previous year. This increase is attributed to successful equity financing efforts, including the issuance of shares under an at-the-market offering. Verb Technology's management remains cautious about future profitability, citing ongoing challenges such as market competition and economic conditions that could impact consumer spending.
Looking ahead, Verb Technology aims to leverage its technological advancements and strategic partnerships to drive further growth. The company is focused on expanding its customer base and enhancing its service offerings, particularly through the integration of AI technologies in its platforms. However, management acknowledges the risks associated with achieving sustained profitability and the need for continued investment in marketing and product development to maintain competitive advantage in the rapidly evolving social commerce landscape.
About Verb Technology Company, Inc.
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