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Verb Technology Company Inc. (VERB+13.73%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details Verb's operations, which are divided into three business units: MARKET.live, Go Fund Yourself, and Vanity Prescribed. MARKET.live focuses on interactive video-based social commerce, allowing brands and creators to host livestream shopping events across multiple social media platforms.
Go Fund Yourself is an interactive social crowdfunding platform for companies seeking exposure across social media for their Regulation CF and Regulation A offerings. The platform combines elements of reality TV with ecommerce, allowing viewers to invest in companies in real-time.
Vanity Prescribed is a telehealth initiative leveraging Verb's social commerce technology to offer fixed-price healthcare solutions. This unit aims to disrupt traditional healthcare models by providing affordable telehealth services and pharmaceuticals.
The company reported revenue of $895,000 for the year ended December 31, 2024, compared to $63,000 for the previous year. The increase is primarily attributed to growth in the MARKET.live and Go Fund Yourself business units.
Operating expenses for the year totaled $12,539,000, a decrease from $13,858,000 in 2023, due to reduced depreciation and amortization expenses.
The company recorded a net loss from continuing operations of $10,510,000, an improvement from a net loss of $14,844,000 in the previous year. The improvement is due to increased revenue and reduced operating expenses.
Verb Technology reported a net loss attributable to common stockholders of $11,472,000 for the year, compared to $22,158,000 in 2023. This includes a deemed dividend of $900,000 related to the redemption of Series C Preferred Stock.
The filing also discusses the company's recent developments, including a binding term sheet to acquire LyveCom, an AI-driven video commerce platform, and the launch of GoodGirlRx.com, a partnership under Vanity Prescribed.
The company had cash and restricted cash of $8,495,000 and short-term investments of $4,913,000 as of December 31, 2024. Subsequent to the year-end, Verb received $1,724,000 related to its ERC short-term receivable.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Verb Technology Company Inc. annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.