VERB - Earnings call transcript Q2 2022 | Verb Technology Company, Inc.

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Operator

Good afternoon and welcome to the Second Quarter 2022 Financial Results Conference Call for Verb Technology Company, Inc. At this time, all participants are in a listen-only mode. Please be advised, the call is being recorded at the company’s request. On our call today are Rory J. Cutaia, CEO, and Salman Khan, CFO.

the would conference remind statements involve call Safe provisions I made that under risks begin, Reform differ Harbor this Litigation materially. can during will of results and we uncertainties like XXXX, cause everyone to statements the Act that Before of Securities actual which to Private include forward-looking

well any facts Forward-looking statements, obligations company’s turn Technology by law, J. forward-looking required made, now except statements speak as Verb these only SEC. contained update current change. Rory and as Rory? to as those I as the in subsequent the to like of the to CEO. the and underlying call over the Company may filings disclaims with date they are Cutaia, would circumstances as

Rory Cutaia

everyone today and business like joining bit talk the insights And we course QX marked data the most the was quarter update moderator XX-Q for our and MARKET.live. to now reactions which which the for hosted I today initial X sales together reflects that for financial the I’d SaaS little launch about points conference festival direct results X-day more the of part will and in our a call. ago hard color social you, and around some shopping our second over time today weeks and industry. of provide on contained perhaps of to thanks XXXX Shopfest, information our we livestream our filed shopping us results platform business livestream provide a some MARKET, use for to Thank

planning major weeks at in start MARKET the announcement me my include MARKET, opinion X are to let saying – provide a how platform by experiences, least today will attendance, comprehensive next some performed. insights that regarding within include into a data – that major lot As though forward going a initiatives, here the the I and my on engagement, Accordingly, of vendor bigger a comments will of update. won’t we points

shopping We around Of have We XX attempted countries. more only York and been livestreams featuring and perhaps advised the in that multiple team shows, New from livestream livestream country themselves Shopfest world. channels over from mobile of X of remote City Brazil XX multiple Shopfest in U.S. Los the laptops the hosted XX across devices. over vendors the locations the other days, shows own had and and Angeles. and in Australia event than studio the ever other their largest retailers on from our was consisted XX produced MARKET from studios The were their little using XX produced by locations livestreams them and

I MARKET you went day statistic. So and hosting in this think the than one Shopfest, of vendor aware hours. awareness from that of one on about when least is started more at heard all less am in scalability, XX about popular onboarding livestreams Shopfest before to important an participation the and

up against going objectives Shopfest, measured and me focused those. with let the team we So, into how KPIs what our our were, on we start

deployment. and to first true under wanted So, the we commercial foremost, itself platform demonstrate

to in unique Specifically, by experience we vendors an coming that hallmark both participants, we set, all wanted the scalability, reliability, MARKET shoppers and be quality, the to to MARKET.live. overall feature ease of of and wanted demonstrate stability, anyone create, would for use the to experience curate fact,

goals everything the biggest could necessary the we and date world and Everything have shopping without the executed shareholders content in apparent our with Any social are the participants impressive architecture are better. produce that the a very but of As quite our have which extremely technology learned our we order have and any vendors media, low. over summarily should MARKET. an class well-conceived By in the and of done several build accomplished in valuable of of done platform extraordinary MARKET some means world suggest each and we high-fiving past other have through was ability I and do Shopfest e-commerce, – around erased. from the platforms to and believe about and platform, walking even best piece growth livestream to contrary. tribulations that do, we delivery We trials up we to cases world, in most that is the par now platform, believe go-to-market for the no very be I doubts on we all deliver an class it office and I years, our to that video strategies, was and

Now it begins.

and referring potential riding And on in objective, that laser-focused for Shopfest. riding platform which successful reasons our ridicule we we the one from passion, in that share of understand not I the that we Shopfest the be success are how on had commercially and successful weeks. was successful know scale and partnerships we platform the well we our is planning, we providing has execute those took I the which best partners, performance to we contagious and time plan single testing, day. And our Shopfest. the on completed, while our I was source everyone had team injected knew all day who a definitely MARKET way I going on now the a value wanted about When much to contingent am the we during collectively the MARKET of see delivering What this I launched of enthusiasm growth knew coming individually completely update had will was how. Shopfest, the performance to of and until execution the the unlocking we performance and among what value business in development and every frustration represents during one had creation the on shared it While as and the that number for meaningful to our were I recognize energy new, as on among opportunity talk that in our platform opportunities of more am

more want As are but wanted chat with one that social buy not and saw shoppable best and MARKET Those don’t from for group form the one the personal a of a what interactive others many but Facebook immersed we streams Think that to calendars event recognizing Groups, hosts also and one-off environment a will the it built relationship An with attract curate is an join shopping level. environment where the we shopper feels feel by with it and chat That’s beginnings Shopfest only plug-in no that in yet massive each This why a social, fail. not to it’s why to one for They the purchase. one video. will that personal, popularity of like like watch participants, a to livestream and a has buy as sold, just of people We certainly mark available for with succeed and week. they with from of presentations described Shopfest long platform encourage relationships and another they things these other. to and saw want atmosphere a MARKET outsell in shop of brand. every engaging overall shot. friend and website. forming another it experience, your they those of we digital believe as and on part we previous person, the but friends during in their Among their learned making designed destination where host, where not the it was makes became being each growth as friends, to people host where trusted group what will their unique activities we conversation

create people using the was livestreams numbers platform. will Revenue KPI for and the livestream directly stores have any of bringing own follow. obvious, the game. as relationships The the and of important It’s more for Shopfest of platform greater reason platform, events awareness these at where the formed there the can to going their time equally be. to fans of friends, with but will number tied given second, be the is a the this success on Look, is vehicle course followers, a number we fostered. on Our

revenue could the allowing be viewers of Our the focus on they and initially the which the itself, is channels associated on groups in livestreams event how part do but to from the that of at flow. will moment. this, we choose To not simultaneously accommodate multiple to circumstances wanted environment least revenue and demonstrated platform

compelling for become and livestreams more there on the happening simultaneous platform. and much are the a As draw powerful more platform, this will more

those exposing the could broadcast it social the also them real-time and audiences platform multiple into drawing platforms simultaneously We that to popular experience. media over so built livestreams in MARKET MARKET

views but the and remains so compiled platforms. MARKET.live to shopped a imagine a viewed as X,XXX attendance Total were views views subject that feed the almost, I have Total say, since Here of so I data not on a from This adjustment. about Total on days is video Tuesday, some we for X,XXX. want social These ago, who to of far during and storefronts on the week number MARKET.live attendees it this unique who was scrubbed is MARKET.live does on August Shopfest being and and those probably during did storefronts Shopfest. numbers there of bit more viewed on XX,XXX. to the is feed MARKET.live note Shopfest demand going of XX,XXX. X, watch X am cross-referenced on still then. I was livestream last MARKET.live were include quite data some include livestream. Total Facebook attendance not from other

So, channels, feed just here Facebook so is feed days this compiled social Facebook from the views from is during Facebook X festival. during have of the the data XX,XXX far of the not Shopfest. we the the media any Again, some of

they their to week, X I to after greater only that Shopfest, Now, include Again, want those as those views algorithms. numbers if assume for we is use over a numbers Facebook’s view out now. I anything Facebook Xth, to are and last see I count we X,XXX,XXX. much the Notably, think again, They metrics jump that up point Tuesday, seconds. this

we are produced. XX livestream XX All shows. that I to numbers This include does for from of the the only feed the provided other shows the the not Facebook-only data you just from

opted vast that if you and viewers for duration text the majority We very, have platform, but of number for XX% who every very like of data of the all shows’ events. for remained counters of livestream watched engagement during also of is a on stayed this Shopfest, for impressive is and – stream confirmed for the RSVPs half updates stated a at each e-mail stream, take yet MARKET the I engaged don’t the than XX,XXX those number. in had end attendee each almost This for and on exists the whom significant till data look really livestream. kind what more just engagement

Without still looks during the while generated that working $XX,XXX and average appears So, is and gross enjoyed of soon to have event being weekly their $XX. trends. $XX,XXX already continue a the MARKET And experience somewhere will in reported participation to exception, just course committed and platform which this data tested calculate report value is most the and between and confirmed, to analyze be through like will and continuing. data There seeing. we order in order of shows, be on still in and and the to should and merchandise collected ton over be that presence to ways size you it and their with come every be vendor truly pledged generated are ratios data they and has been mine best continues to and sales identify the that stores the

we implemented will the onboarding Just more vendors a rapidly backlog. that process much get process and Friday, streamlined X through days new ago, help reduce on the

have vendors you onboarding this well-timed have sellers difficult yet onboarding process the have not get As get committed more they update Of in and half important is currently than weeks with process add platform. approximately And active coming the them MARKET, to complete to, I the that their the very any – which will learn that appear of have an list MARKET to will XXX referred in my the in as comprehensive as close the improvement stores MARKET.live sellers place closer, or notation and really completing the in open the The the we coming to We consuming. soon. balance we list. time process in way rest names is too. to it’s

However, some complete the for vendors to responsible needed multiple have of departments larger process. information certain of the providing the

the the access are other than who people for banking who different for the and like, turn designs financial are information. people to in logos providing providing people for and responsible example, uploading different than SKUs, responsible for inventory responsible are So, have and

So, helping get done and But are just it process many assured instances it for as getting vendors get rapidly them a we all can. status through lagging does as of vendors take of of the process and a look, them. people we the those top people to have completing longer. I them together report we dedicated to to a through in getting them who bit who the move daily of process are stay rest of team onboarding the on through and

important numbers vendors the platform. hosting to is this before, up it how the said on I through is and process appreciate game running and more we get livestreams As a

Okay.

MARKET. that’s So

Let me to SaaS business report. our turn

had very Verb only happy to that much applications and products, clients applications when industry, further platform. are our of we would-be the position our put leaders provider year, sales with entered These the undisputed development the that competitors, we second announce will told our space competitors. said end direct sales also sales prior quarter in our the of direct you for and previous this Pulse, am handful I displacing sales We of X.X conference the of have us leading and leadership including the market in but remain one calls. in space, sales verbLIVE Beginning tools enhance of we would-be of to just would in we the enablement as suite ahead we I onboarding begun release sales at of direct of new, XXXX. enablement expanded the the MARKET innovative I not

is calls, and the tools their quarter perfectly in this with our expect no represents business. to stated MARKET recurring we guidance business in new expect Consistent more to client has and SaaS third adopt the of on conference the generally. recurring business. entirely which the and way direct sales been I an Post-launch revenue to see and component to margin building previous revenue legacy as an direct provided suited of our does seek subscribes. enhancement industry very fully increased year to the to complimentary margin the business in of the we any of Now the high this our products will this currently non-digital, unique component focus I reducing sales and direct client, SaaS non-recurring Their MARKET very sales this our of sales fourth clients previously, replace use from to of beyond. enhancement their low our of

SaaS was the on our actually from the the As and the solely investors represented the exit we total legacy began company’s large company misread line you that and on growth of focused misinterpreted revenue portion we focus stated a which business, of urge a the not top revenue, line our on component business. revenue repeatedly our in experiencing exiting. are business business to from I SaaS revenue the we again have once

represents For QX just year of revenue represented example, of revenue. represented QX last legacy year non-digital our the and this just only XXXX, of it it our of total XX% revenue. of In XX% year, of revenue in QX total in our this total XX%

implemented just we revenue. will major legacy offsetting no longer in next the of business cost see margin reported QX up that is The marked the and to out of continue a continue the top revenue more continues our it, grow this the products and of of continued revenue reduction of release rapidly our and smaller of the and you As continued have component year. much these SaaS XXXX will first reductions beginning low operational to also smaller that the phase that digital as QX line grow through becomes we since to it exit revenue grow, overall revenue legacy of business as

XXXX. expense, expense from of QX QX. QX component are over this operating was substantially then we recall And XX% the additional XX% might R&D of reduction of expense, in R&D of reported QX QX which had You that biggest XXXX. over We XX% down for an second year the in greater in been reporting additional our quarter and a XXXX reduction

R&D revenue introduced coupled newly SaaS Specifically, Khan from are cost expenses theirs applications million for EBITDA just million, QX to on sales But $X.X revenue confidence the additional direct about markets. vertical. am in from creating with to of enablement with our better are our representing going our touch pricing capital interests ability unit sales the reductions, these expect now that period with reduction. the on and The CFO, we a down discussion additional give the $X.X same to call. and new leave from introduce let further true XX% year, will briefly our together positive our win-win, this a including the in so new we our to align professional clients achieve verticals, to not our me our generate reduce on new reliance model continuing results take a MARKET, us time I as last business Salman to sports to

platform teams added and XXXX sports even the and professional U.S. many the really sports We started our As previous Penguins Pittsburgh QX the QX of enablement announcement in earnings sales new in teams sports both I on the sales impressive in in professional discussed unit built in and countries. we have other our XXXX, a verbTEAMS since with professional calls, to launched we of built our then, platform. pipeline

expectations Panthers, and more of the adopt will Detroit engagement MARKET other And addition Alright. the expect to announcements. continuing teams strategies, Phoenix and part Pistons, some we of their fan as the many Suns, Pittsburgh it’s announced these my In things. among that Penguins, Florida the we

Salman going financial So around detail our it performance. reported to I turn Salman? for am to our CFO, more over Khan

Salman Khan

of the and planned our last continuing on systematic the other compared same increase of reflecting XX% margin towards business. hand in Thank ended you, today, June XX% points for same last period Rory the last The results period as following second with XX, low business an Rory with the review of of period of million, quarter $X our digital filed X.X% period XX% from year, same same XX, like financial and quarter the digital reflecting period same in company’s XX% up non-digital second recurring of over was was XX% more revenue. XXXX. Form was business million, $X.X and to second reductions compared down revenue, subscription recurring with as a the revenue the component Total SaaS of for quarter year. the and XX% company’s digital revenue August reiterate a with the non-digital a XXXX a XX% same the an data compares increase lower of some digital $X.X good performance same year. from revenue shared was the transition Total was shift total digital Cost year. as Total from $X.X afternoon revenue, of total our for was our for the million, I the margin XX% compared provide cost color around year, revenue everyone. margin total the last operations Gross period XX-Q for last revenue of reported with XXXX. SaaS last I’d from revenue year. revenue the away XX% million, may was last and/or of year. the period percentage percentage you. increase

to last as labor period and expect year. compared development implementation the quarter third planned XX, to first was quarter were digital from amortize completion $X.X XX% administrative measurement due the same primarily to to same were we of $X.X period gross the last everyone $X.X to specificity information were due last compared margin with from development June for costs reductions and of to remind compared today expenses same planned MARKET.live, successful XX% on expenses a the a offset year, was last as for to launch over Capitalized MARKET. analysis. reflecting $X.X launch XX%, want $X.X due a by down expenses decrease as XXXX EBITDA XXXX. XXXX. period modified I or expenses EBITDA XXXX following the for $X.X software and Modified and XX% of around the the were revenue capitalized X% the of software million cost and to reductions. Our cost non-cash by first period development million down XX-month improved cost distributed XX% cost that of I our year. onward. planned over Research year. the quarter of in R&D General charge period refer cost is million compared press million million of the to G&A the when more non-GAAP greater our you same EBITDA million, for increases release to

cost the June full company In non-GAAP XX, on XX, from end, to proceeds cost of million, which direct let June $X.X gross were period financial we $XX.X the was year SaaS same reflecting decision million. company’s million, business of as to ended revenue due General its and our non-digital XXXX same XX% compared revenue primarily last investors, the reductions million million XXXX quarter with a year, revenue registered completed $X.X XX%, with strategic you December cost comparison modified share $X.X resulted planned with increase business. by a X decrease payments in XXXX. were costs and reductions. from Modified or million, last down the now and debt analysis. year, the period XXXX. expenses X% release a on recurring a period was reflecting towards to of period Once more same the year, receipts, the wind an reductions lower continue XX% by to $X.X EBITDA period $X.X away from $X.X Now, refer for return million burn operator R&D for million, and the increases labor Q&A. all $X.X same of the planned like was administrative up year. offset current $X.X last to I’d reducing as of results business. by compared $X the last a Subsequent revenue is Cash in $X repaid the increase offering compared period of planned non-digital the expenses down from the I period due and April in reflecting to with the back Cost lower launch me last in call to million, last of same when same due MARKET. margin an planned revenue to improved million XX% advances from same the per strong to implementation company’s press Total today up greater offset last digital margin measure cash same quarter. shift to year. totaled our SaaS digital from was distributed Total institutional again, period future growth year. EBITDA decrease the XXXX, around the recurring Total $XX over EBITDA by months for XX% subscription for to million, X.X% million information the and XX, service the of specificity in

Operator

proceed line your Please Kinstlinger Instructions] Brian Partners. question. Thank with Global comes from of with Alliance first Our [Operator you. question the

Brian Kinstlinger

was Hi, all without guys. the have taking all almost more Thanks of went Thanks questions. hitch. MARKET Shopfest a in events it the for production great and to watched quality must my a than I for see And data. dozen

to want three you first lot. I a I because make want I gave understood The sure thing to And is confirm do numbers.

I million Just views on after X views, think there about on there did fact accurate? mentioned are just XX,XXX then live and Facebook that of three things, views XX,XXX you Are the event were there Facebook. those I about on the MARKET.live get live were

Rory Cutaia

exactly. Yes,

Brian Kinstlinger

Good.

went million the X there unique. went after X have Facebook not people times are not different maybe to So or X been to event, million someone million could people

Rory Cutaia

said events to that, was There that events other that XX we just earlier what that And Correct. we produced. for on emphasize the I were only did. XX

So it’s what don’t number. that more this know data was than obviously I

Brian Kinstlinger

on those MARKET.live XX XX,XXX views only even Meaning events? the were on

Rory Cutaia

no, am not what that’s No, I saying.

just If on… asking you are

Brian Kinstlinger

number? Facebook

Rory Cutaia

Correct.

Brian Kinstlinger

to the first many have same past, Got of a us Shopfest onboarding lastly quarter quality board brand time might tomorrow. on-boarded help page. you or of tape and the one event it. of numbers expect participate don’t different reaction and is lot it given just In how the call you or first on some Understood. what did brands about you’ve standalone two in you clearly understand – are the dollar everyone and we on you hear multibillion have multimillion the been the festival? and I same And red their produced? they which run want that talked year given then the wrong on I’ll write dollar there getting Can a of was

Rory Cutaia

Okay.

I did – companies appreciate direct. before, have them try seeing and have that, be start that for really order seen have think of we platform have me And the to you I queue did. been of I I at some It are following So through process want to with comments done a I that on certain going made would and just see of like will long I to how actually bit am am I a large the either didn’t go but I Shopfest brands those write or showing those questions down, some up it. large may now that going too now. will it others those we in the we begin not many right quite get to the in just in suspect off have sure from I commitments, of a the pretty Because very of have are this true the memory. very held in alluded that platform, be to let level accelerated to done to for it of that important quickly have I part were certainly are near-term. what kind that some There brands lot but taken guess political, my seems say to and actually come what you Shopfest. have was to them. things think Shopfest more

Brian Kinstlinger

the it. And goal a marketing Right. clear you will Great. about platform when so today focused in out retailing that to to Do a were to or the on was it be before revenue event? speak XXXX a revenue will reliable, and there a of and of think then about you what it a build be high-quality product XXXX they contributor wasn’t Right. is world here of it’s can more point major get

Rory Cutaia

revenue enough want it some I XXXX don’t perfectly those in to think it they able yet on from. over will will it to in think be produce that XXXX. elaborate I than greater what I I our revenue to be than contribution substantially believe in honest several does will a be will that also XXXX. will But And things don’t of anyone the the next their that to with am – make we’ll meaningful further to extrapolate that give come I to following just the own. it’s be the the information company about additional conclusions you, data talking I have weeks, that.

Brian Kinstlinger

Two Right. more.

attract other platform? something differently and the more is, the monetize first more the better to are lessons what retailers first what biggest learned larger having festival, audience, obviously, do after Verb one than The can recognized completing is

Rory Cutaia

a there person learned a what my with want I relationship the well-defined detail, will of which the talking be people that and other from was There that’s a buy that prepared we some premises to the pretty that I of be form person. when the to to we what want plan they brand. buy in about person, motion. want most form would with be much that want is relationship for that group to they and a in in follows And had platform. one to prepared this mentioned would a alluded which something we upon greater in in I suspected particular, And it quite the in from a that’s, time is think a validation don’t from announcement that people They I that, major around architected again, remarks, remarks

when really was a that on the platform. we big So was architected replaced bet something that

there, that I groups. make and could the done. attempting other shoppable. success and at platform enter have I that you think their and or space Facebook growth also that the and this. don’t are But And of participants, it’s if least not and know to platforms And something the that kind out of model support live massive take volume it mentioned I

recipe And what success. a And what I is enormous doing. for think learned... are that’s I we that

Brian Kinstlinger

of at rest the million actually, revenue about digital hovered the I per business. at question around $X recurring the look look three If to the has off, quarters, if I $X.X Sorry, the I of asking is didn’t mean you I’ll future Rory. not back a question and MARKET. Last to queue the believe into business second quarter. is quarter, obviously last I’d cut I’ve about million got then get remiss But

Can stronger first half, be incremental tell give You mentioned the it. about? as modest second which movers? mentioned lot a just us revenue. needle Maybe you I SaaS are drive that versus that And missed ones some what talking growth, of new kind significant then a you be sense will just for products Will half just a) are ramp growth? it me of takes you

Rory Cutaia

digital X.X make that earnings call, recall you that the Pulse. year be will The most contribution the and of last I the mentioned that we revenue think releasing will be we balance And the products if would for verbLIVE from was in that time. both And of time, begun that of our clients on-boarding existing some June on new and on at those have even clients we it the to beginning and did products be delivered some platform. and target of onto to begun, that

in Now, in obviously, second that quarter because it that to and happened not did the fourth it do date appear expect But quarter results. did, third I on it appear quarter.

Brian Kinstlinger

Thank Great. guys. you,

Rory Cutaia

Brian. you, Thank

Operator

question. our And Saltzman Please with your with from question of AFM comes next the Martin proceed line Investments.

Martin Saltzman

phenomenal on was gentlemen also spectacular. to I’ve clients it livestreams production seamless. was Like MARKET. they on roughly said earlier, guys just had was great. buy XX sat It clarity, I the job Great and and the mentioned XX

your team. So, to excellent job

Rory Cutaia

Thank you.

Martin Saltzman

to a you Considering are XX are a XXX X of of couple Rory, you questions of getting vendors, day? have have. I A indications still saying roughly just you couple –

Rory Cutaia

Yes, Martin. Yes.

Martin Saltzman

on are The ones that coming board.

Rory Cutaia

the to the the the that run Yes. I plan We not into which but – weeks so I further elaborate I’d mentioned, in like as of announce we as about. to that some not to things something on is coming growth pretty are happy

Martin Saltzman

whether really Shopfest? after say you Can it’s accelerated

Rory Cutaia

accelerated Shopfest. It at the has

Martin Saltzman

appreciate I that. Okay.

capital have far As promoting MARKET? you ample you help to do as keep capital, think

Rory Cutaia

about or be right us, on our focus for our given not think the And advantage us, as for along that MARKET our raise what talk is you be makes we all will any we we opportunities represents What think us, all time, then makes that sure capital we I plans of something that making shareholders. sense might don’t opportunity sense. of. think that just at typically take don’t that’s now come any might that exploit of

So it leave Martin. I with just can hope I there you,

Martin Saltzman

I social through saw mean, media, tons But Yes. I of promotion.

out So to MARKET And the all Shopfest through expensive you speak had can carrying that views a you Facebook, also given throughout you as world. these of that it social like way said there less were spectacular seems when medias well? other get

Rory Cutaia

absolutely. Yes,

was really, are that good. us. anything So, streamed was Tik sure those Tok, Instagram I really had and additional outlets – had if leaving good. we YouTube pretty out, I not We am We had but am have which all

Martin Saltzman

medias? something Is metrics still from that at? looking social other is Are those from you getting team viewership your still

Rory Cutaia

Yes.

Martin Saltzman

your digital to where in around, were And that’s business, the just also in going is elephant the MARKET. Hey, e-reader, okay an diminishing I like Okay. bread and would years. next Amazon side they I of your say not couple the I when but it seems too, of look, think is and get the room buttered came saying am

So would have here. going you Amazon, not I think just something to are but I say I say am you really to be

you it. going to weeks there this in X being that Is So major like planned, about I part about you talking X are very it. and Shopfest about? I a with am was that any events of And us excited are other shareholders major My have announcement teased are announcement etcetera? excited ask the question,

Rory Cutaia

awareness an revenue got planned I drive for of really and our that were some revenue, events for cool the and on year And really of that’s through create we I drive have in will focus end are what interesting things that that was was we I platform. think it turn fest, revenue that, to now we and it’s have a will before the believe volume mentioned demonstrating up done We the about. on but environment number platform, that flow, not because going which that it. from all the only not can shop doing the

Martin Saltzman

or company. didn’t guidance. I it even Because sort I annoying at with are seem And other them. maybe covering was wanted negative, guidance there. seem the your out little have out, mention they on things Alpha like dispel could read person earnings out you speak I if putting of to But know is after things, are right two They article writing negative Seeking an a like you I will, something, you don’t anybody least I anybody who to about guidance. recall it puts your like Alpha that? came is. Can they Seeking

Rory Cutaia

write nobody managed community great revenue right there that and write worried typically else what I there, think going we produce headline to people And not pretty the don’t value. too out since Alpha, see front We comment for like serve And should we that and about be. give on that’s I is focus going all I us, it, know. us, from I of a articles with I we comes pretty sure numbers, quite what’s don’t of guidance some revenue well. saying the all they flow you am stuff things publication. do build Seeking the that and because is people on to investment the contributed in on that of where not as right to am us a stuff crazy our certainly now have that from. for that. to numbers, that’s which quickly. value missed line, revenue is it and come I a top out think with that

Martin Saltzman

in something or be can I terms lastly, speak articles or And article, floating it seemed read And with – article, and of any and an Etsy, positive around things mean Etsy. just appreciate but the of I I to negative I Etsy? on read you that, today and like relationship

Rory Cutaia

to they is build with that executives Etsy. and be. is business That’s really perspective, impression company, CEO want extraordinary got my don’t do give anything of there, they remarks, forwarded someone the fantastic in because me an announcement Etsy. I to this categories has said amazing. and not not announcement really is things going something coming to is have one, comment prepared on The to don’t comment my I reason is And It should This one a only on something a I anyone Etsy both proud those of what like that I into the fall of. comment to I on big the my articles. am going big That’s today. earlier it I it. will to the From up. be

there are have right that on Etsy they anyone to we attract on and here a an plan is and to don’t supplement formal have worked certainly already users. at think on market enhance Etsy. want with between a partnership users, synergies decision being Etsy. and to market, make we And what to as now, And I no doing that. lot to to investment But I clear sit I very not of

Martin Saltzman

now will such about dispel to to I go and When playing that. any your that even team And of clients are below I with the possibility that? re-comply way compliment lot there your question, Is time are well, lot what I the down, a it have will A of extra to reverse appreciate then shares. I a am rule. these comes oh, a concerned roughly, that splits great represent could that things Can clients appreciate then on you dollar back or on that? of came speak issue, is in on notice I sort. own amount And the time you saying, I the And I and Last different of you would you much ample if I $X are NASDAQ XXX just think call. job. back of again, that. queue. listen. very $X Thank XX that want them I I forward? maybe you joining going of there

Rory Cutaia

I we what can tell you are the understand our that of plans our Board this, management doing our now, and between are. our of myself, business, the nature long-term near-term team, members

about being one concerned not able We to with are compliance NASDAQ’s bit rules. be listing in

leave I say don’t about any plan doing say on more we concerned And we are won’t about And business with will there. funny that, not it I it, when that. so we

Operator

comes from you. the line of Ascendiant our Capital. with with Thank next And proceed question Ed Woo your Please question.

Ed Woo

there congratulations I views or site, there on directly would change having difference one wonderful any also do vendor or Shop your in them, partner And your sites? is your whether or from somebody Fest. potential event? media differences is either your from with you – throw economics my My also, partners event social care produced of a want any there to or is, Yes. producing you guys, question

Rory Cutaia

not sure. question. the understand I am exactly I

the it’s to you answer the me just of give first thing. that, part not again? Would mind And so wrong

Ed Woo

Alright.

does? of that were you did, events you an produce economics, produced XX mentioned guys or Does You event economics, and had think whether about that vendors? your I by matter your XX in that another events terms vendor it you potential your guys then

Rory Cutaia

cost, Okay. Great Look, their question. mean Yes. when zero, have own vendors zero. absolutely, produce zero we our I events,

meaningful of product. from selling onto the us up come is, allowing to pretty set virtue and start intending Yes. to we no people use just this way, business which really in So, by are a of with intervention platform the get so platform, scale

it have what So, event. that to don’t marketing I the when look producing cost, frankly, better we incur cost the expense, economics that’s are is. that at way of as

my event, from Both to creating very challenge it, as from the else because only vendors. perspective it big is as to shopper an this attention are our very, join well creating awareness. viewer really about compelling. is for Awareness, We everything business, success, in view the success

Ed Woo

you your or Tick whether Tock somebody care Great. matter or agnostic, as you your the as Instagram and long views And matter site, event directly from do you from or does are eyeballs? doesn’t get Facebook or

Rory Cutaia

come want just Well, issue was Because eyeballs. Awareness we about talking right. for everything. And us super I about that the do And is onto immeasurably that’s site, information. particular awareness. us to that’s data we retarget of viewers. And right and valuable because again, them. that’s prefer those that course, right we valuable, goes to But the they our data to where that allows get the them remarket

that and some other on, they the link so are and to for data on seeing we what that to want be come watching they to trying to social click us. YouTube get multicast simulcast is them that or come interested the it’s platforms, provide we over market So, what do they the want media from, to other on do platforms, of when we or wherever they happen are

So, yes, for important us. that’s absolutely

Ed Woo

for thanks good my luck on next you the asking wish And Shopfest. Thank I guys Well, questions. you. Great.

Rory Cutaia

you, Thank Ed.

Operator

next question. proceed Thank from Partners. our follow-up Kinstlinger Global your with with question you. Please a Brian And is Alliance

Brian Kinstlinger

it, the net Live site, vendor your Yes. I in any question there if your And $X,XXX or question Facebook If on with jewelry versus to produce Ed’s is of on just you versus revenue? the it? same I difference buy want there. the follow-up take piece Verb’s produces

Salman Khan

we in change difference first, the of is the no, the produces or part no it, it, latter The produce no whether question there vendor there. take

stream as into watching click are the would to make you from stream purchase. example, our the an you Facebook, If

the participate complete consolidating that, you you all be and purchase, would so. do chat could is it, even actually to of platform to can when technology our the directed but watch You want in into our you

there no So, change. is

Brian Kinstlinger

yes. difference, No Great.

Shopfest. a was would that gentleman the think other that the I the Do the by to to other about be have vendors an funded right? mass question. be clear, are too you of your to and I sorts cost are be you question But sending to marketing My on from cost platform. is going other event, MARKET be a brand, attracting follow-up that was heart asked the the asked think to question. will all platform, necessary capital who going your literature the more out and I of brands starting they emails, and hosting large He a

Rory Cutaia

times from being Partially brands revenue them. don’t The biggest but people will creating source of back it’s forming that’s not they our see livestream are coming with then these hosts environment, seeing coming person we and not are again to think groups that’s brands. platform people, those couple biggest biggest badges. planet the the that I come big because will people the where engagement, again, from they again, on believe the come. relationship from. But I That’s maybe the a And with platform. the Gucci that that the emphasized and source right. favorite beginning group that person we and back the Brian, repeat other relationship favorite revenue the of the their hosting that And of people a where the analogy. are for revenue where and on bag are biggest that also see I and selling source revenue engagement, are and Facebook in will presenters following to is things. greatest come where it’s there, are of a believe see will individuals. them greatest They that week-after-week, individuals, we come are before about

further that in talk to weeks. about going are coming We these

Brian Kinstlinger

throwing events? grows, I people some get during that tell right? dollars these isn’t track because on going as to what’s marketing others socially happen would happens Maybe the you that to people over Is as think to time people you to But early coming, market. not come Right. that necessarily, organically are to meet but product just

Rory Cutaia

Yes.

things There on. attendance marketing, just their our that individual correct. certain been it’s right, not events, It’s guide. are are But hosts, on we dollars that’s are influencers You vendors, brands, have the stores, you are not correct. getting that for

Brian Kinstlinger

Rory. Thanks Great.

Rory Cutaia

Sure.

Operator

to pass At Thank over this time, remarks. I back management you. would it for closing to like any

Rory Cutaia

support could value, that much translate way time your something to months for coming these with And Thank off. a referred through And everyone. think value forward will very to be chat now in happy We, that our years to people things, is we going we we for I Guys, see, as in meaningful appreciate never drive And much. thank revenue, pretty will give you can these and produced have look I forward very which up. to few all We over your support together believe a years. patience that that you earlier I announcement look next I their we I to about these process. company. guess are you

Operator

Thank you today’s everyone. This does conclude conference.

for participation your not disconnect and this time. Thank lines You great your day. a may you have at

Verb Technology (VERB) 16 Aug 222022 Q2 Earnings call transcript