Hollywood-based interactive video advertising Verb Technology Company Inc. reported its first quarter earnings May 16, posting a loss despite an overall revenue increase in its first earnings report since going public.

Verb reported revenue of $4 million, a 44.5% increase from the previous year’s first quarter. The company’s net losses totaled $3 million, down from $8.5 million in first quarter 2018.

Chief Executive Rory Cutaia said earnings exceed market expectations, and “frankly, we exceeded our own internal estimates.”

Verb’s May 31 initial public offering on Nasdaq listed it on the ticker as VERB at an initial price of $3.44 per share, raising $20.5 million. The company acquired Utah-based video sales company Sound Concepts Inc. in April 2019 for $25 million using a combination of cash from the IPO and stock.

“What this means for us post-acquisition of Sound Concepts and after going public is a new, solid foundation upon which we will build shareholder value,” Cutaia said about the earnings.

The company is expanding its operations by opening an office in Manhattan Beach, its third to date. Cutaia told the Business Journal in April that Verb is looking to acquire more companies, noting “we’re looking at additional acquisitions (of) businesses that are complementary to our own and will be lucrative to our shareholders.”

Tech reporter Samson Amore can be reached at [email protected] or (323) 556-8335. Follow him on Twitter @samsonamore.