VERB Technology Company Inc (VERB) CEO Rory Cutaia
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Posted On: 07/07/2020 10:04:04 PM
VERB Technology Company Inc (VERB) CEO Rory Cutaia on Q4 2019 and Q1 2020 Results - Earnings Call Transcript
May 18, 2020
"I'm happy to report that the fear of executing new contracts we saw in Q1 has dissipated. And based on the activity we've had halfway through the current quarter, I expect to report another consecutive quarter of QRR growth. In fact, that's a stat we're very proud of. Going back to Q1 2019 through Q1 of 2020, we've now had four consecutive quarters of recurring subscription fee revenue growth and I fully expect to extend that winning streak to five consecutive quarters of growth next quarter."
In regards to the low margin legacy business...
"In February, we entered into an agreement with a company in the business of providing enterprise class printing, sample assembly, warehousing, packaging, shipping and fulfillment services....
"The agreement provides for a revenue share arrangement that is designed to guarantee net revenue to us from every sale....
So effectively, we've gone from a low margin business to an all margin business."
"Well recently we've commenced local operations in Japan through a Tokyo based Japan cooperation with a team with over 30 years experience"
"Since we began operations we have already executed VERB’s CRM subscription agreements with six Japanese enterprise clients. We're currently exploring a similar expansion opportunity in Korea..."
https://www.google.com/amp/s/seekingalpha.com...nings-call
A few more reminders on top of what has just been revealed over the past few days.
Aloha
May 18, 2020
"I'm happy to report that the fear of executing new contracts we saw in Q1 has dissipated. And based on the activity we've had halfway through the current quarter, I expect to report another consecutive quarter of QRR growth. In fact, that's a stat we're very proud of. Going back to Q1 2019 through Q1 of 2020, we've now had four consecutive quarters of recurring subscription fee revenue growth and I fully expect to extend that winning streak to five consecutive quarters of growth next quarter."
In regards to the low margin legacy business...
"In February, we entered into an agreement with a company in the business of providing enterprise class printing, sample assembly, warehousing, packaging, shipping and fulfillment services....
"The agreement provides for a revenue share arrangement that is designed to guarantee net revenue to us from every sale....
So effectively, we've gone from a low margin business to an all margin business."
"Well recently we've commenced local operations in Japan through a Tokyo based Japan cooperation with a team with over 30 years experience"
"Since we began operations we have already executed VERB’s CRM subscription agreements with six Japanese enterprise clients. We're currently exploring a similar expansion opportunity in Korea..."
https://www.google.com/amp/s/seekingalpha.com...nings-call
A few more reminders on top of what has just been revealed over the past few days.
Aloha
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