VERB Reports 20 Percent Revenue Growth in Second Quarter

VERB Technology Company (NASDAQ:VERB), augmented reality marketing company announced a 20 percent increase in year-over-year revenues in its second quarter unaudited financial results. Total revenue reached C$3.7 million, as software-as-a-service revenue drove revenues higher, increasing 37 compared to the same time period last year.

As quoted in the press release:

VERB Consolidated, Unaudited, Pro Forma, Income Statements of Operations and Balance Sheet as of June 30, 2019:

• Total revenue was $3.7 million, an increase of 20% for Q2, as compared to $3.1 million for the same period of the year prior.

• Total SaaS revenue for Q2, which is the Company’s stated business focus, totaled $1.5 million, an increase of 37% over the $1.1 million for Q1, and an increase of 57% over the $928,000 reported for the same period last year.

• Total revenue for the first 6 months of 2019 was $7.7M, an increase of 32% over the $5.9M for the first six months of last year.
• Gross profit for Q2 totaled $1.7 million, an increase of 5%, as compared to $1.6 million for the same period of the year prior.

• Gross profit for the first 6 months of 2019 totaled $3.4M, an increase of 19% over the $2.9M for same period last year

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