Welcome to our dedicated page for Veritone news (Ticker: VERI), a resource for investors and traders seeking the latest updates and insights on Veritone stock.
Veritone, Inc. (symbol: VERI) is a pioneering company specializing in advanced artificial intelligence (AI) computing solutions and services. Founded in 2014, Veritone has swiftly risen to prominence with its proprietary AI-based cognitive computing platform that allows for the seamless processing, transformation, and analysis of unstructured audio and video data. This innovative platform, known as aiWARE, integrates a robust ecosystem of various top-tier cognitive engines, enabling businesses to extract valuable insights from vast amounts of media data.
Veritone's core business revolves around the delivery of its software products and services. The company serves a diverse clientele, including Commercial Enterprises and Government and Regulated Industries. Through its aiWARE platform, Veritone offers a range of services, including content licensing, advertising agency functions, influencer management, and related professional services. These solutions are designed to support clients in deploying and implementing efficient AI-driven strategies.
With a strong presence across multiple continents, including the United States, the United Kingdom, France, Australia, Israel, and India, Veritone's reach and influence are widespread. The company's ability to generate revenue stems from both its Software Products and Services and its Managed Services. This dual revenue stream underscores Veritone's strategic approach to market penetration and growth.
Veritone has garnered significant recognition in the industry, evidenced by accolades such as the Red Herring Top 100 Award, the Edison Awards, and the SIIA Business Technology CODiE Award for Best Native Advertising Platform or Service. These honors highlight the company's commitment to innovation and excellence in AI technology.
Recent developments at Veritone include ongoing enhancements to its aiWARE platform, expanding its capabilities to provide even more profound and actionable intelligence from multimedia data. The company's continuous improvement efforts ensure that it remains at the forefront of the AI industry, delivering cutting-edge solutions to its clients worldwide.
Veritone, Inc. (NASDAQ: VERI) announced its partnership with Competitive Power Ventures (CPV) to provide advanced energy price forecasting using its aiWARE platform. The solution, known as intelligent distributed energy resource management solution (iDERMS), aims to enhance CPV's competitiveness in the wholesale energy market. By improving forecasting accuracy, CPV can make informed decisions related to power generation, which is vital for modernizing the power grid while ensuring reliability and environmental responsibility.
Veritone, Inc. (NASDAQ: VERI) reported a record Q4 2021 revenue of $55.1 million, a 230% increase year-over-year, and full-year revenue of $115.3 million, up 99%. The company achieved its first positive non-GAAP net income of $6.8 million. Customer growth rose by 47% with 529 software customers. Despite a GAAP net loss of $70.6 million for the year, Veritone ended 2021 with $255 million in cash. The outlook for 2022 forecasts revenue growth of over 60%, projecting $180 million to $190 million. Veritone is well-positioned for future investments in AI capabilities.
Veritone (NASDAQ: VERI) has launched its intelligent distributed energy resource management solution (iDERMS), enabling utilities and independent power producers to transition to clean energy while meeting regulatory and environmental goals. The solution leverages aiWARE for real-time energy forecasting and optimization. Analyst Alan Pelz-Sharpe emphasizes its potential to balance energy supply and demand effectively. The iDERMS system includes modules for forecasting, optimization, and control, promising enhanced reliability and increased profit potential for users.
Veritone, Inc. (NASDAQ: VERI) announces significant enhancements to its Veritone Voice solution, improving the production of lifelike synthetic voices. Since its launch in May 2021, Veritone Voice has served over 2,000 customers and generated thousands of voice clips. The latest updates include upgraded text editor capabilities and the addition of 72 new stock voices in various languages. This innovation allows creators to produce content that is more natural and accessible, meeting the growing demand for personalized audio in enterprise and consumer markets.
Veritone (NASDAQ: VERI) and iHeartMedia (NASDAQ: IHRT) announced a collaboration to utilize Veritone’s synthetic voice solution for podcast content. This technology enables iHeartMedia to create verified synthetic voices, transforming them into various languages and accents. Initially, popular podcasts will be translated for Spanish-speaking audiences, aiming to expand iHeartMedia's reach in the podcast market. The solution promises to lower production costs while retaining the authenticity of the original voice talent, thus unlocking new revenue streams for both companies.
Veritone (NASDAQ: VERI) has been selected as a key AI partner in a $249 million Blanket Purchase Agreement with the Department of Defense Joint Artificial Intelligence Center. This agreement enables the JAIC to utilize the aiWARE™ platform for Test & Evaluation, enhancing AI technologies including Machine Learning and Neural Networks. Veritone's platform aims to improve operational efficiencies and reduce deployment costs across government agencies, including the U.S. Air Force.
Veritone, Inc. (NASDAQ: VERI) announced a conference call on March 3, 2022, at 4:30 p.m. ET to discuss its fourth quarter and full year 2021 financial results. The event will provide updates on the business and include a Q&A session. Interested parties can participate via webcast or by phone with pre-registration encouraged to avoid delays. Veritone is known for its aiWARE platform, facilitating efficient data management and AI solutions for various sectors.
Veritone, Inc. (NASDAQ: VERI) announces its fourth quarter and full year 2021 financial results conference call scheduled for March 3, 2022, at 4:30 p.m. ET. The company aims to discuss financial outcomes and provide a business update during this session. Attendees can join via live audio webcast or by phone, with an option to pre-register for quick access. Veritone is recognized for its expansive aiWARE platform, which optimizes AI solutions for various sectors, enabling improved data management and operational efficiency.
Veritone, Inc. (NASDAQ: VERI) has renewed its licensing agreement with the French Tennis Federation (FFT) for North American distribution of the Roland-Garros content. This three-year extension allows Veritone to offer unique tennis footage to its North American clients for use in various creative projects. The French Open is among the most-watched Grand Slam tournaments, attracting millions of viewers. Veritone's AI platform, aiWARE, supports its licensing operations, streamlining workflows and content delivery.
Veritone, Inc. (NASDAQ: VERI) announced that its day-ahead market energy forecaster outperformed the California Independent System Operator (CAISO) in November 2021. The forecaster demonstrated a 30% improvement in accuracy over CAISO's demand forecasts, potentially saving millions for energy market participants. This achievement highlights Veritone's advanced AI capabilities, integral to enhancing the reliability of the energy grid. The company continues to push for improved forecasting solutions as part of its commitment to the clean energy transition.
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