NEWPORT BEACH, Calif. and SALT LAKE CITY, May 19, 2023 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), the leader in interactive video-based sales-enablement applications, including MARKET.live, its livestream social shopping platform, will timely file its Form 10-Q, reporting financial and operating results for the quarter ending March 31, 2023 on Monday, May 22, 2023. Due to the blackout period surrounding the now imminent conclusion of the Company’s Board of Directors’ review and consideration of certain strategic opportunities, management is advised not to conduct an earnings call on Monday. However, subject to a final determination following the completion of Board’s review process, it is anticipated that a special shareholder call will be held to discuss the Board’s determinations and results.
“As I stated in the FY 2022 earnings call last month on April 17, our Board of Directors was engaged in the review and consideration of certain strategic opportunities presented by Alantra, the M&A advisory firm we engaged last fall,” states Verb CEO, Rory J. Cutaia. “I further stated in that call that it was my hope and expectation that by today we would be in a position to provide details around some of these activities and respond to questions. However, as of today, the Board’s review and consideration is not yet complete and will likely not be complete over the next several days by Monday, May 22. Accordingly, due to the blackout period that surrounds these type of processes, I am unable to make any comment at this time. However, we are releasing this communication because I feel compelled to provide what little information I can to our shareholders concerning the status of that process. Once the blackout period is behind us, and subject to the outcome and the Board’s determination, it is my intention to plan a special call to share the results.”
Verb Technology Company, Inc. (Nasdaq: VERB), the market leader in interactive video-based sales applications, transforms how businesses attract and engage customers. The Company’s MARKET.live platform is a multi-vendor, presenter, livestream social shopping destination at the forefront of the convergence of ecommerce and entertainment, where hundreds of retailers, brands, creators and influencers can monetize their base of fans and followers across social media channels. The Company’s Software-as-a-Service, or SaaS, platform is based on its proprietary interactive video technology, is comprised of a suite of sales enablement business software products offered on a subscription basis. Its software applications are used by hundreds of thousands of people in over 100 countries and in more than 48 languages. VERB’s clients include large sales-based enterprises as well as small business sales teams, including the sales and marketing departments of professional sports teams. With approximately 75 full-time employees, the Company is headquartered in Lehi, Utah, and it also maintains offices in Newport Beach, California.
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This communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “anticipate,” “expect,” “project,” “plan,” or words or phrases with similar meaning. Forward-looking statements contained in this press release relate to, among other things, the Company’s projected financial performance and operating results, including SaaS Recurring Revenue, as well as statements regarding the Company’s progress towards achieving its strategic objectives, including the successful integration and future performance of acquisitions. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to the COVID-19 pandemic and related public health measures on our business, customers, markets and the worldwide economy; our plans to attract new customers, retain existing customers and increase our annual revenue; the development and delivery of new products; our plans and expectations regarding software-as-a-service offerings; our ability to execute on, integrate, and realize the benefits of any acquisitions; fluctuations in our quarterly results of operations and other operating measures; increasing competition; general economic, market and business conditions. If any of these risks or uncertainties materialize, or if any of our assumptions prove incorrect, our actual results could differ materially from the results expressed or implied by these forward-looking statements. Investors are referred to our filings with the Securities and Exchange Commission, including our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
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