Verb Technology Company Files Q3 2024 10-Q
Ticker: TONX · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1566610
Sentiment: neutral
Topics: 10-Q, financial-reporting, company-update
TL;DR
Verb Tech's Q3 10-Q is in. Check financials for the latest.
AI Summary
Verb Technology Company, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. The company, formerly known as nFusz, Inc., is based in Las Vegas, Nevada, and operates in the personal services sector.
Why It Matters
This filing provides investors and stakeholders with the latest financial health and operational status of Verb Technology Company, Inc., crucial for understanding its current performance and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company filing regular reports, Verb Technology Company, Inc. presents standard risks associated with financial reporting and market performance.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-11-05 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- Verb Technology Company, Inc. (company) — Filer of the 10-Q
- nFusz, Inc. (company) — Former name of Verb Technology Company, Inc.
- 20240930 (date) — End of the reporting period
- 20241105 (date) — Filing date
- Las Vegas, Nevada (location) — Company's business address
FAQ
What is the primary business of Verb Technology Company, Inc.?
Verb Technology Company, Inc. operates in the SERVICES-PERSONAL SERVICES sector, with its IRS number being 461669753 and incorporated in Nevada.
When was Verb Technology Company, Inc. previously known by another name?
The company was formerly known as nFusz, Inc., with a date of name change on 20170425.
What is the fiscal year end for Verb Technology Company, Inc.?
The fiscal year end for Verb Technology Company, Inc. is December 31st (1231).
What is the SEC file number for Verb Technology Company, Inc.?
The SEC file number for Verb Technology Company, Inc. is 001-38834.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024 (20240930).
Filing Stats: 4,595 words · 18 min read · ~15 pages · Grade level 18.6 · Accepted 2024-11-05 17:25:24
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value VERB The Nasdaq Stock Mar
Filing Documents
- form10-q.htm (10-Q) — 1224KB
- ex10-1.htm (EX-10.1) — 83KB
- ex10-2.htm (EX-10.2) — 82KB
- ex31-1.htm (EX-31.1) — 18KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 7KB
- ex32-2.htm (EX-32.2) — 6KB
- 0001493152-24-043700.txt ( ) — 7377KB
- verb-20240930.xsd (EX-101.SCH) — 50KB
- verb-20240930_cal.xml (EX-101.CAL) — 70KB
- verb-20240930_def.xml (EX-101.DEF) — 221KB
- verb-20240930_lab.xml (EX-101.LAB) — 466KB
- verb-20240930_pre.xml (EX-101.PRE) — 369KB
- form10-q_htm.xml (XML) — 1248KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 4
- FINANCIAL STATEMENTS (UNAUDITED)
ITEM 1 - FINANCIAL STATEMENTS (UNAUDITED) 4
- MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 26
- QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 34
- CONTROLS AND PROCEDURES
ITEM 4 - CONTROLS AND PROCEDURES 35
- OTHER INFORMATION
PART II - OTHER INFORMATION 36
- LEGAL PROCEEDINGS
ITEM 1 - LEGAL PROCEEDINGS 36
- RISK FACTORS
ITEM 1A - RISK FACTORS 36
- UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 36
- DEFAULTS UPON SENIOR SECURITIES
ITEM 3 - DEFAULTS UPON SENIOR SECURITIES 36
- MINE SAFETY DISCLOSURES
ITEM 4 - MINE SAFETY DISCLOSURES 36
- OTHER INFORMATION
ITEM 5 - OTHER INFORMATION 36
- EXHIBITS
ITEM 6 - EXHIBITS 36
SIGNATURES
SIGNATURES 38 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q for the three months ended September 30, 2024 (this "Quarterly Report"), includes "forward-looking Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements are subject to considerable risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not statements of historical facts and can be identified by words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "seeks," "should," "will," "would" or similar expressions and the negatives of those expressions. Forward-looking statements also include the assumptions underlying or relating to such statements. Our forward-looking statements are based on our management's current beliefs, assumptions and expectations about future events and trends, which affect or may affect our business, strategy, operations, financial performance or liquidity. Although we believe these forward-looking statements are based upon reasonable assumptions, they are subject to numerous known and unknown risks and uncertainties and are made in light of information currently available to us. Some of the risks and uncertainties that may impact our forward-looking our incursion of significant net losses and uncertainty whether we will achieve or maintain profitable operations; our ability to grow and compete in the future, and to execute our business strategy; our ability to maintain and expand our customer base and to convince our customers to incre
Business
Business References in this document to the "Company," "Verb," "we," "us," or "our" are intended to mean Verb Technology Company, Inc., individually, or as the context requires, collectively with its subsidiaries on a consolidated basis. Our business is currently comprised of three distinct, yet complimentary business units, all three of which are currently operating and generating revenue, and one of which is currently operating in "stealth mode" as we continue to refine the user experience for that business unit as we continue to ramp sales. The first business unit is MARKET.live focused on interactive video-based social commerce. Our MARKET.live platform is a multi-vendor, livestream social shopping destination leveraging the convergence of ecommerce and entertainment. Brands, retailers and creators that join MARKET.live have the ability to broadcast livestream shopping events simultaneously on numerous social media channels, including TikTok, YouTube, LinkedIn, Facebook, Instagram, Twitch, as well as on MARKET.live, reaching exponentially larger audiences. The Company's recent technological integrations with META, created a seamless, native, friction-free checkout process for Facebook and Instagram users to purchase MARKET.live vendors' products within each of those popular apps. This integration allows Facebook and Instagram users to browse products featured in MARKET.live shoppable videos, place products in a native shopping cart and checkout – all without leaving Facebook or Instagram. We recently announced a technology integration with Pinterest and we will continue to expand the universe of social platforms our clients can access through our platform. Last year we completed development work on a new MARKET.live capability that facilitated a deeper integration into the TikTok Shop social media platform, designed to expose MARKET.live shoppable programming to tens of millions of potential viewers/purchasers. This capability allows shoppers watching a MA