10-K: Verb Technology Company Reports Increased Revenue and Strategic Developments in 2024

Verb Technology Company's 2024 annual report highlights a significant revenue increase driven by MARKET.live and Go Fund Yourself business units, alongside strategic acquisitions and partnerships.

Summary

• Verb Technology Company's 2024 annual report reveals a revenue of $895, a substantial increase from $63 in 2023, primarily due to the MARKET.live and Go Fund Yourself business units.
• The company incurred a net loss of $10.3 million for 2024, a decrease from the $22.0 million loss in 2023.
• MARKET.live revenue is generated from contract-based recurring fee revenue services, while Go Fund Yourself derives revenue from fees charged to issuers and product sales commissions.
• The company disposed of its SaaS assets in June 2023 to focus on the MARKET.live business unit.
• As of December 31, 2024, the company had cash and restricted cash of $8,495 and highly liquid investments of $4,913.
• A binding term sheet was executed to acquire LyveCom, an AI-driven video commerce platform, expected to close early this summer.
• The company launched GoodGirlRx.com under the Vanity Prescribed initiative, partnering with Savannah Chrisley.
• The company had 18 full-time employees, one part-time employee, and five independent contractors as of March 19, 2025.

Sentiment

Score: 7

Explanation: The document presents a mixed sentiment. While revenue increased and losses decreased, the company still faces challenges related to profitability, competition, and economic conditions. The strategic acquisitions and partnerships are positive signs, but their success remains to be seen.

Positives

• Significant revenue increase driven by MARKET.live and Go Fund Yourself business units.
• Net loss decreased compared to the previous year.
• Strategic acquisition of LyveCom to enhance MARKET.live platform with AI capabilities.
• Launch of GoodGirlRx.com to tap into the telehealth market.
• Partnership with TikTok Shop to expand MARKET.live reach.
• Successful equity financing through ATM offerings and Regulation A public offering.

Negatives

• The company incurred a net loss of $10.3 million in 2024.
• Dependence on one customer that represents 26% of 2024 revenue.
• The market price of the company's common stock has been, and may continue to be, subject to substantial volatility.

Risks

• The company may not achieve or maintain profitable operations.
• The company's ability to grow and compete depends on adequate capital availability.
• The company's success depends on maintaining and expanding its customer base.
• The market is intensely competitive.
• Security breaches and other disruptions could compromise information and expose the company to liability.
• Failure to comply with Nasdaq continued listing requirements could result in delisting.
• The company's failure to adequately protect its intellectual property rights could diminish the value of its products.

Future Outlook

The company expects to close the LyveCom acquisition early this summer and integrate its technology into the MARKET.live platform. The company also intends to employ MARKET.live's social commerce technology to disrupt the traditional healthcare model through Vanity Prescribed.

Industry Context

The company is operating in the competitive and rapidly changing livestream shopping platform market, which is influenced by technological developments and consumer behavior trends. The company is also tapping into the growing telehealth market with its Vanity Prescribed initiative.

Legal Proceedings

• The company is involved in a dispute with a former employee regarding unpaid bonus compensation, with an appeal pending.
• The company settled a legal malpractice action with Baker Hostetler LLP.

Related Party Transactions

• The company had outstanding notes payable to related parties, which were repaid during the year.
• The company entered into a corporate office sublease agreement with a related party.
• The company entered into a Subscription and Investment Representation Agreement with its CEO for Series B Preferred Stock.

Stakeholder Impact

• Shareholders may be impacted by the company's ability to achieve profitability and maintain compliance with Nasdaq listing requirements.
• Employees may be impacted by the company's ability to attract and retain qualified personnel.
• Customers may benefit from the enhanced features and offerings of the MARKET.live and GoodGirlRx.com platforms.

Next Steps

• Complete the acquisition of LyveCom and integrate its technology into the MARKET.live platform.
• Expand the reach and offerings of the GoodGirlRx.com platform.
• Continue to reduce operating expenses and increase sales.
• Increase marketing and sales efforts to drive customer acquisition.

Key Dates

Keywords

MARKET.live, Go Fund Yourself, LyveCom, Vanity Prescribed, Revenue, Acquisition, Partnership, Social Commerce, Telehealth, Financial Results