Verb Reports 40 Percent Increase In Quarterly Digital Revenue

Verb Technology Company (NASDAQ:VERB), an interactive augmented sales platform designed for enterprise solutions announced its first quarter financial results. Over the quarter, the company announced a 44.5 percent increase in revenue year-over-year with a 40 percent increase in digital revenue since the last quarter.

As quoted in the press release:

Subsequent to March 31, 2019, the Company closed its previously announced underwritten public offering providing the Company gross proceeds of approximately $20.5 million before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company.

On April 11, 2019, VERB closed its previously announced acquisition of Sound Concepts for $25.0 million of value, payable through a combination of $15.0 million in cash, and the issuance of an aggregate of 3.2 million restricted shares of VERB common stock, with a fair market value at closing of $10.0 million. The cash payment was paid using a portion of the net proceeds that VERB received in its underwritten public offering.

Click here to read the full press release.