- Verb Technology press release ( NASDAQ: VERB ): Q3 Net Loss of $8.03M
- Revenue of $2.2 million, versus $2.9 million for the same period last year.
- SaaS recurring subscription revenue, a component of Total digital revenue, was approximately $1.9 million, representing a modest increase over the same period last year.
- Non-SaaS digital revenue was $0.2 million, versus $0.5 million for the same period last year, which was a record quarter for Non-SaaS digital revenue.
- Total digital revenue was $2 million, versus $2.4 million for the same period last year, primarily due to the record Non-SaaS digital revenue we experienced in that quarter.
- SaaS recurring subscription revenue as a percentage of Total revenue was 85%, compared with 64% for the same period last year, and up from 82% for last quarter.
- Gross margin across all products was 66%, an improvement over the 63% for the same period last year, and over the 65% for Q2 2022.
- Modified EBITDA improved by $1.7 million, or 25%, when compared with the same period last year.
- Cash totaled $0.9 million as of September 30, 2022, essentially the same as December 31, 2021.
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Verb Technology reports Q3 results