Q1 2022 SaaS Recurring Revenue Up 37% Over Q1 2021
Q1 2022 Gross Profit Up 31% Over Q1 2021
R&D Operational Costs Cut 45% from Q1 2021
MARKET LIVESTREAM SHOPPING FESTIVAL DATES SET – JULY 26, 27 & 28
- First quarter 2022 SaaS recurring revenue up 37% over prior year comparable quarter
- First quarter 2022 gross profit margin up 31% over prior year comparable quarter
- First quarter 2022 Total Digital revenue up 19% over prior year comparable quarter
- SaaS recurring revenue now accounts for 93% of Total Digital revenue – up from 81% in Q1 2021
- SaaS recurring revenue now accounts for 74% of total revenue – up from 58% in Q1 2021
- Total Digital revenue accounts for 80% of total revenue – up from 71% in Q1 2021
- R&D expense down 45% from prior year comparable quarter and down 42% from Q4 2021
- Modified EBITDA1 improvement by $1 million over Q1 2021
- MARKET Livestream Shopping Platform soft launch data paints promising picture – FESTIVAL dates set for July 26, 27, and 28
NEWPORT BEACH, Calif. and SALT LAKE CITY, May 16, 2022 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. VERB (“VERB” or the “Company”), the leader in interactive video-based sales enablement applications, including shoppable livestream, today reported financial and operating results for the quarter ending March 31, 2022, and held an earnings conference call at 5:30 p.m. ET to discuss these results. Prepared remarks of the management team during the conference call are provided below.
Management Prepared Remarks
VERB 2022 First Quarter Financial Results Conference Call
Monday, May 16, 2022, 5:30 p.m. ET
Rory J. Cutaia, CEO
Salman Khan, CFO
Good afternoon and welcome to the first quarter 2022 Financial Results Conference Call for Verb Technology Company, Inc. At this time, all participants are in a listen-only mode. Please be advised, the call is being recorded at the Company’s request.
On our call today are Rory J. Cutaia, CEO, and Salman Khan, CFO.
Before we begin, I’d like to remind…