I think this part of the conference call sums up p
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Posted On: 11/27/2021 8:00:20 PM
I think this part of the conference call sums up pretty well where Verb's biggest potential is:
Brian Kinstlinger
Yes. If I just—you mentioned the contribution next year could contribute beyond even the most bullish estimates. Maybe as we look to 2022, is that assume—should I—should we think about this (Marketplace and verbTV) being the top revenue contributor of all your products, maybe just put some of that into context because that’s a pretty wide open statement.
Rory Cutaia
Yes, I know it is. I can tell you this, it is absolutely our intention that it is substantially greater than everything else that we’ve done up to this date. Now as you see, we’ve had nice growth in our existing business, really nice growth, and we anticipate that we’re going to continue to grow our other verticals. But I think this places us in a completely different realm, and I think realm is really the only way to describe it. This is a big, big play, and we know that, and we take it super seriously, and I think we’ve got the right people involved, who as excited about it as we are to make it happen.
Jeff also had some interesting lines about the cash burn, which some might have missed:
We continue to pursue the cost reductions within development we discussed in prior earnings calls that have been planned for the year-end as we move from R&D mode to maintenance mode for many of our products. While we may likely see some of that savings offset by increases in marketing expenses associated with the up and coming launches of Marketplace and verbTV, if the Company is successful in the execution of certain planned Marketplace mega events Rory referenced earlier, those expenses might easily be offset by the potential new and additional revenue those events may generate.
Additional information around product development expense is that we’ve made tremendous progress towards the completion of Marketplace, and as such, we’ve capitalized $2.3 million in development expenses that will be depreciated over three years.
Brian Kinstlinger
Yes. If I just—you mentioned the contribution next year could contribute beyond even the most bullish estimates. Maybe as we look to 2022, is that assume—should I—should we think about this (Marketplace and verbTV) being the top revenue contributor of all your products, maybe just put some of that into context because that’s a pretty wide open statement.
Rory Cutaia
Yes, I know it is. I can tell you this, it is absolutely our intention that it is substantially greater than everything else that we’ve done up to this date. Now as you see, we’ve had nice growth in our existing business, really nice growth, and we anticipate that we’re going to continue to grow our other verticals. But I think this places us in a completely different realm, and I think realm is really the only way to describe it. This is a big, big play, and we know that, and we take it super seriously, and I think we’ve got the right people involved, who as excited about it as we are to make it happen.
Jeff also had some interesting lines about the cash burn, which some might have missed:
We continue to pursue the cost reductions within development we discussed in prior earnings calls that have been planned for the year-end as we move from R&D mode to maintenance mode for many of our products. While we may likely see some of that savings offset by increases in marketing expenses associated with the up and coming launches of Marketplace and verbTV, if the Company is successful in the execution of certain planned Marketplace mega events Rory referenced earlier, those expenses might easily be offset by the potential new and additional revenue those events may generate.
Additional information around product development expense is that we’ve made tremendous progress towards the completion of Marketplace, and as such, we’ve capitalized $2.3 million in development expenses that will be depreciated over three years.
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