Verb Technology Company Inc (VERB)

[Nspireaction]

Just for the record, Covid-19 will definately have an impact on financial results, the question is how much.

Verb signed 14 new enterprise clients in Q3, a 250% increase from the previous quarter, but revenues were flat due to the timing of clients launching their applications. It takes approximately 79 days on average to begin recognizing recurring revenue from these types of contracts

The reason it was taking 79 days to recognise revenues is because clients didn't want to launch their apps until they could have a public event to introduce it and show everyone how it works. Covid-19 cancelled many of these events, we just don't know for how long.