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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) has announced its intention to offer
Veritone reported a record revenue of $22.7 million for Q3 2021, reflecting a 44% year-over-year growth. This growth is driven by a 169% increase in software product and services revenue, reaching $9.0 million. Gross profit rose to $16.8 million, up 50% year-over-year. However, the GAAP net loss was $11.4 million, slightly worse than last year. The company raised its full-year guidance, anticipating revenues between $103.0 million and $105.5 million, marking an 81% increase year-over-year, and expects Q4 revenue to reach $43.8 million to $45.3 million.
Veritone (NASDAQ: VERI) will conduct a virtual Analyst Update and Tech Demo on
Veritone (NASDAQ: VERI) will co-host a virtual panel on November 9th, titled "US Law Enforcement Agency Transparency & How Technology Can Help." This initiative follows a national survey commissioned by Veritone, addressing LEA transparency and technology usage. The panel, featuring notable law enforcement leaders, aims to discuss survey findings and strategies to enhance transparency through technology. Jon Gacek of Veritone emphasized the increasing demand for tools that enable agencies to address public calls for transparency while managing manual labor requirements for compliance.
Veritone (NASDAQ: VERI) announced the full integration of its MARVEL.ai synthetic voice solution with the Wade & Wendy conversational AI platform, enhancing automated human voice interactions. This development aims to streamline recruitment processes, allowing organizations to make quicker and more informed hiring decisions. Terry Baker, CEO of PandoLogic, emphasized the integration's potential for expansion into virtual realities, while Ryan Steelberg, co-founder of Veritone, noted its ability to improve connections in recruitment and metaverse experiences.
Veritone, Inc (NASDAQ: VERI) has launched Veritone Contact, a software solution that streamlines RIPA (Racial Identity and Profiling Act) data collection for California law enforcement. With over 70 agencies already onboard, Veritone expects nearly 100 agencies to adopt this technology by early 2022, significantly reducing data collection time by 50%. This efficiency could save approximately
Veritone, Inc. (NASDAQ: VERI), a leader in enterprise AI solutions, will participate in several virtual investor events in November and December 2021. Key events include the Stifel Midwest One-on-One Growth Conference on November 11, the Needham Virtual Conference on November 17, and the Roth Technology Event on November 18. Additionally, Veritone will host a Virtual Analyst Update on November 19 and attend the UBS Global TMT Conference from December 6-8. For more details, visit Veritone's website.
Veritone, Inc. (NASDAQ: VERI) has announced its third quarter 2021 financial results conference call, scheduled for November 9, 2021, at 4:30 p.m. Eastern Time. The call will cover the company's financial performance, updates on business operations, and a Q&A session. Investors can participate via a live audio webcast or by dialing in, with pre-registration encouraged to avoid delays. Veritone is known for its aiWARE platform, which provides AI solutions for various sectors, enhancing operational efficiency and decision-making capabilities.
Veritone, Inc. (NASDAQ: VERI) announces an expansion of its aiWARE Government platform across all components of the U.S. Department of Justice (DOJ), achieving widespread Authority to Operate (ATO) for its AI solutions. This development includes support for Microsoft Azure Government, allowing DOJ agencies to efficiently process large data volumes. The federal government is set to invest over $6 billion in AI R&D in 2021, indicating significant growth potential for Veritone as it leads in AI adoption within federal applications.
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