Veritone

Veritone, Inc. engages in the provision of artificial intelligence (AI) computing solutions to media and entertainment, government, and legal and compliance industries. It operates through the following segments: Advertising, aiWARE SaaS Solutions, and aiWARE Content Licensing and Media Services. The Advertising segment places advertisements for clients, primarily with radio broadcasters, podcasters and digital media producers. The aiWARE SaaS Solutions segment offers solutions through a combination of its direct sales force and indirect channel partners, such as value-added resellers (VARs), distributors, system integrators, managed services providers, and referral partners. The aiWARE Content Licensing and Media Services segment sells and markets activities relating to its digital content licensing services business through its direct sales force. The company was founded by Chad Edward Steelberg and Ryan S. Steelberg on June 13, 2014 and is headquartered in Denver, CO.

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Veritone reports robust Q4 earnings, eyes growth in AI markets

Veritone's strong financial performance, strategic investments, and partnerships position the company for continued growth
Challenges include segment growth concerns, pricing model differentiation, and strategic cash utilization decisions
Opportunities in expanding partnerships, targeting growth sectors, and leveraging AI solutions for market expansion

Veritone reports robust Q1 growth, focuses on profitability in 2023

Veritone's Q1 2023 performance reflects strong growth in total revenue, new bookings, and software customers, driven by AI focus.
While facing challenges in operational losses and declining commercial enterprise revenues, Veritone is leveraging opportunities in GRI and cost savings.
With a solid balance sheet, tightened revenue outlook, and focus on profitability, Veritone is poised for improved financial performance in 2023.

Veritone reports Q2 revenue decline, eyes growth through AI disruption

Veritone faced revenue decline in Q2 but achieved cost savings and aims for growth
Strategic focus on AI-driven disruption and operational excellence remains strong
Challenges include macroeconomic impacts and ongoing net losses
Opportunities lie in market disruption, acquisitions, and cost-saving measures

Veritone reports Q3 revenue of $35.1 million, anticipates growth

Veritone focused on operational excellence and fiscal responsibility in Q3
Strategic initiatives led to $24 million in annualized savings year-to-date
Q4 revenue guidance between $33-34.5 million with a net loss projected
CEO expresses gratitude towards team and highlights customer commitment

Veritone progresses towards profitability in 2024 amidst revenue growth

Veritone's Q4 2023 earnings call highlighted progress towards profitability, growth in key segments, and a strategic focus on cost-saving initiatives.
Despite revenue decline in 2023, the company aims for growth in 2024 with a conservative revenue outlook, targeting profitability by Q4 2024 and positive cash flow in fiscal year 2025.
Veritone's leadership in AI solutions, market adaptability, and commitment to safe AI present strengths amidst financial challenges and growth opportunities.
The company's agility, innovation, and cost-saving measures position them for sustained profitability and market competitiveness in the AI industry.

Veritone targets profitability by Q4 2024 amidst revenue growth

Veritone's Q1 2024 performance showed revenue growth but with an operating loss, aiming for profitability by Q4 2024.
The company's strengths lie in technological advancements, new service offerings, and growth in key sectors.
Challenges include cost management for profitability, while opportunities exist in expanding services and the public sector.

Veritone reports revenue growth and strategic advancements in Q2

Veritone's Q2 2024 performance showed revenue growth, strong sector demand, and improved operational efficiency.
While facing challenges in restructuring and profitability optimization, the company's strengths lie in securing major contracts and advancing its AI technology.
Opportunities for future growth include leveraging market demand, enhancing financial health, and exploring strategic investments.

Veritone divests legacy business, eyes AI growth in fiscal 2025

Veritone's divestiture of its legacy media agency business aims to strengthen its financial position and focus on AI solutions.
Despite financial challenges in Q3 2024, the company is implementing cost-saving measures to drive efficiency and return to growth.
With a strategic focus on AI applications and a projected breakout year in fiscal 2025, Veritone is poised for future success.

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DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE™, and a leader in enterprise AI software and services, today announced that Audacy, a leading multi-platform audio content and entertainment company, is now leveraging Veritone Attribute. An existing user of Veritone's AI applications, Audacy expands its usage with Veritone Attribute to improve and enhance data and analytics reporting for advertising customers.

Audacy Adds Veritone Attribute to Deliver Enhanced Campaign Metrics to Its Advertisers

DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE™, and the leader in enterprise AI software and services, today introduces Veritone Generative AI, an enterprise-grade Platform-as-a-Service (PaaS) that natively supports and orchestrates public large language models — such as GPT-3 and ChatGPT — as well as domain-specific large language models.

Veritone Continues to Innovate and Make AI More Accessible, Deploying Generative AI Across Its Leading aiWARE Platform

DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, announced today the details of its fourth quarter and full year 2022 financial results conference call. Veritone will hold a conference call on Thursday, March 2, 2023, at 4:30 pm Eastern Time (1:30 pm Pacific Time) to discuss its results for the fourth quarter and full year 2022, provide an update on the business and conduct a question-and-answer session.

Veritone to Hold Fourth Quarter and Full Year 2022 Results Conference Call and Participate in Investor Conferences

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MDRX vs. VERI: Which Stock Is the Better Value Option?

MDRX or VERI: Which Is the Better Value Stock Right Now?

DENVER--( BUSINESS WIRE )--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE and leading enterprise AI software and solutions provider, today announced a number of actions reflecting the strategic focus of newly appointed CEO, Ryan Steelberg. Among these actions, certain organizational changes were implemented, driving increased prioritization and investments in next-generation AI applications and features focused on new and existing customer growth. In addition to realigning its organizational structure, Veritone will be reducing certain operational costs, after which the Company expects to realize a net $12 - $15 million in annualized savings over the course of fiscal 2023 as compared to fiscal 2022.

Veritone Advances Strategic Actions with Cost Reduction Initiatives

Veritone, Inc. (VERI) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Veritone, Inc. (VERI) Soars 8.4%: Is Further Upside Left in the Stock?

DENVER--( BUSINESS WIRE )--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, and leading enterprise AI software and solutions provider, today announced the launch of Veritone Redaction Managed Service. An alternative to licensing Veritone's AI-powered Redact software, this managed service enables organizations with limited dedicated resources to lean on Veritone to redact audio and video from digital evidence files safely and securely.

Law Enforcement, Government Agencies and Legal Firms Save Time and Costs Redacting Digital Evidence with Veritone Redaction Managed Service

DENVER--( BUSINESS WIRE )--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, and leading enterprise AI software and solutions provider, today announced that the company has named Seth Greenberg Chief Marketing & Strategy Officer and Fleming Meng Chief Information Officer. The appointments come on the heels of Ryan Steelberg assuming his new role as Veritone CEO and President.

Veritone Appoints Technology Marketing Expert Seth Greenberg as Chief Marketing & Strategy Officer and Information Technology Veteran Fleming Meng as Chief Information Officer

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COHR or VERI: Which Is the Better Value Stock Right Now?

DENVER--( BUSINESS WIRE )--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, today announced it will power select voices and animated assets for newly-launched Cameo Kids, where parents and loved ones can book personalized Cameo videos for kids from their favorite family entertainment stars, beginning with Moonbug Entertainment's most popular global kids' franchises, Blippi and CoComelon. Cameo Kids launched in partnership with Candle Media, the next-generation media company, which last year acquired Moonbug, the world's largest digitally native kids' entertainment company.

Veritone Powers Cameo Kids' Personalized Videos for Fans with AI Voice Technology

DENVER--( BUSINESS WIRE )-- Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive Enterprise AI platform, today announced that it has entered into separate, privately negotiated transactions (the “Agreements”) with certain holders of its outstanding 1.75% Convertible Senior Notes due 2026 (the “Notes”) to repurchase (the “Repurchases”) approximately 30% of the outstanding Notes or $60 million aggregate principal amount of the Notes for an aggregate cash repurchase price of approximately $38 million. The final aggregate cash repurchase price will be determined based on the sum of (i) approximately $37.5 million based on Veritone's November 29, 2022 closing stock price of $5.60 per share, (ii) an amount (which may be positive or negative) based in part on the daily volume-weighted average price per share of Veritone's common stock during a 10-trading day pricing period following the execution of the Agreements and (iii) accrued and unpaid interest to, but excluding, the closing date. The actual amount of cash paid in the Repurchases could vary from the estimated aggregate repurchase price depending on changes in the trading price of Veritone's common stock during the measurement period. The Repurchases are expected to close on or about December 16, 2022, subject to certain closing conditions. Following the closing of the Repurchases, Veritone intends to cancel the repurchased Notes and, after such cancellation of repurchased Notes, approximately $141 million aggregate principal amount of the Notes will remain outstanding. The Repurchases could affect the market price of Veritone's common stock.

Veritone Announces Repurchase of $60.0 Million of 1.75% Convertible Senior Notes Due 2026

DENVER--( BUSINESS WIRE )--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, today announced that beloved sport commentator and former pro footballer Alan Smith will use AI voice to cover the most prestigious football tournament in the world. Opta Voice by Stats Perform, powered by award-winning aiWARE™ solution Veritone Voice, brings life to the sport stats and game details to fans around the world. Alan is currently a regular co-commentator and sometime studio pundit for Sky Sports for the Premier League coverage.

Prominent Sport Commentator and Former Pro Footballer Alan Smith Partners with Veritone Voice to Cover World's Most Prestigious Football Tournament

DENVER--( BUSINESS WIRE )--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive Enterprise AI platform, today announced a new strategic partnership with OR Media, a leading British production company renowned for making high-profile documentaries and features films for major networks such as BBC, Discovery, Al-Arabiya, Al Jazeera English and more. Utilizing both Veritone Digital Media Hub—an AI-powered asset management and monetization solution—and Veritone aiWARE, OR Media has the technology it needs to establish Orchard Clips, its new clip-licensing business that helps both English- and Arabic-speaking broadcasters and filmmakers find, discover and license the footage they need in their preferred language.

Veritone Digital Media Hub Available in Arabic Through Partnership with OR Media's 'Orchard Clips' Business

DENVER--( BUSINESS WIRE )--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive Enterprise AI platform, is a 2022 winner in the Deloitte Technology Fast 500, which recognizes the most innovative, fastest-growing technology companies in North America for advancements in technology, media, life sciences, fintech and energy tech. The list ranks each company out of the 500 winners based on a company's percentage of revenue growth from the 2018-2021 fiscal years.

Veritone Named as a Winner in the Deloitte 2022 Technology Fast 500™ Awards

Veritone, Inc. (NASDAQ:VERI ) Q3 2022 Earnings Conference Call November 8, 2022 4:30 PM ET Company Participants Brian Alger - SVP, Corporate Development & IR Chad Steelberg - Chairman & CEO Ryan Steelberg - President & Director Michael Zemetra - EVP, CFO & Treasurer Conference Call Participants Patrick Walravens - JMP Securities Koji Ikeda - Bank of America Merrill Lynch Darren Aftahi - ROTH Capital Partners Brad Reback - Stifel Operator Good afternoon, and welcome to the Veritone Third Quarter 2022 Financial Results. [Operator Instructions] Please note, this event is being recorded.

Veritone, Inc. (VERI) Q3 2022 Earnings Call Transcript

Veritone, Inc. (VERI) delivered earnings and revenue surprises of 11.11% and 7.47%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Veritone, Inc. (VERI) Reports Q3 Loss, Tops Revenue Estimates

DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, today reported results for the third quarter ended September 30, 2022.

Veritone Reports Third Quarter 2022 Results

DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE™, a hyper-expansive enterprise AI platform, today announced it has been selected by Deloitte to advance its AI practice focused on helping clients manage and process massive amounts of structured and unstructured data.

Veritone aiWARE Selected by Deloitte to Advance AI Practice Focused on Helping Clients Rapidly Discover and Manage Media, Text and Data at Scale

DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE™, a hyper-expansive enterprise AI platform, today announced the adoption of its intelligent stop data collection and reporting application, Veritone Contact, has surged among California law enforcement agencies (LEAs), increasing approximately 80 percent in 2022.

Police Transparency Solution Adopted by More Than 20% of California Law Enforcement Agencies

DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, today launched SPORT X, a new intelligent marketplace for sports federations and content producers from around the globe to license short-form sports video directly to media buyers, maximizing additional revenue streams and their visibility amongst media organizations.

Veritone Launches SPORT X, an AI-Driven, Short-Form Sports Video Licensing Marketplace

Kyro announces the first full–stack polygon development platform and series of projects launching on polygon blockchain SAN FRANCISCO , Oct. 19, 2022 /PRNewswire/ -- Kyro Digital , a platform for Web3 Builders, today announced a new collaboration with Veritone, Inc., creator of aiWARE, a hyper-expansive enterprise AI platform. The partnership will make a fast, easy and secure experience for Veritone clients, including individual and enterprise rights holders, to use the Kyro Platform, Builder and API to quickly create and deploy powerful new Web3 business applications that accelerate today's blockchain transformation.

KYRO DIGITAL AND VERITONE PARTNER TO LAUNCH NEW BLOCKCHAIN MARKETPLACES FOR ENTERPRISE CLIENTS

DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive Enterprise AI platform, today unveiled Veritone Tracker, a new AI-powered tracking solution that leverages confidence-based similarity detection to track people and objects through video recognition software.

Veritone Introduces New AI-Powered Video Forensics Solution – Veritone Tracker

DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, announced today the details of its third quarter financial results conference call.

Veritone to Hold Third Quarter 2022 Results Conference Call and Analyst Tech Demo

DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, today announced a new strategic partnership with Stats Perform, the sports tech leader in data and AI, designed to provide real-time play-by-play, pre-game, in-game and post-game updates. The partnership will combine Veritone's award-winning synthetic voice AI technology and Stats Perform's trusted Opta sports data to bring localized, AI voice capabilities to content creators, me

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