VERB Fiscal Year 2022 SaaS revenue has struck the home run and is reported as the greatest amount of revenue generated in the company’s history.
Reports have shown around 12% of recurring revenue growth over the previous year. The numbers for the end of December were 31,022 around 81%, laddering up from 65% for the previous year. SaaS revenue accounts for up from 84% in 2021 to now 93% of revenue growth.
The R&D expenses has came down to 58% from last year. The general and administrative expenses were reduced to 18% same as the last year, and almost 33% from the previous quarter.
After thorough analytics, it was found that the total recurring revenue curated from SaaS was $7.7 million and ladder up to 12% from last year. This is reported as the highest amount of SaaS’s revenue recorded in the history of the company.
The SaaS revenue has reported a growth of 93% from 84% last year. The total incurring SaaS revenue is estimated to be around $8.3 million, with a slight increase in growth from previous years.