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. develops enterprise artificial intelligence and data solutions for commercial, government and regulated-sector customers. Its updates center on the aiWARE platform, which orchestrates machine learning models for audio, video and other data, along with industry applications such as Broadbean by Veritone for job distribution, iDEMS for investigative digital evidence management, and Discovery Content Intelligence for media archives.
Recurring news also covers Veritone Data Refinery and Veritone Data Marketplace, privacy and redaction tools for unstructured data, customer deployments in public-sector and enterprise markets, technology partnerships, and quarterly operating updates. Company announcements frequently connect its AI software, data services and managed services to hiring workflows, digital evidence, media analysis, data preparation and cloud infrastructure.
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Veritone, Inc. (NASDAQ: VERI) reported a robust Q3 2022 with revenue soaring 64% year-over-year to $37.2 million. Driven by a significant 131% surge in Software Products & Services, and a 20% increase in Managed Services, new bookings skyrocketed 393% to $16.5 million. Despite a GAAP net loss of $4.9 million, a substantial decline from $11.5 million the prior year, cash reserves grew to $196.1 million. Ryan Steelberg will become CEO on January 1, 2023, as Chad Steelberg transitions to Chairman of the Board.
Veritone, Inc. (NASDAQ: VERI) has entered a strategic master reseller agreement with Deloitte to enhance its AI practice, expanding their existing eDiscovery-focused partnership. This agreement allows Deloitte to leverage Veritone's aiWARE platform for managing vast amounts of structured and unstructured data. The integration aims to improve capabilities in managing audio, video, and text data efficiently, facilitating rapid access to AI models and enhancing clients' AI transformation journeys.
Veritone, Inc (NASDAQ: VERI) reported an 80% surge in the adoption of its Veritone Contact application among California law enforcement agencies in 2022. This growth stems from the implementation of the California AB 953 Racial and Identity Profiling Act, enhancing transparency and efficiency in data collection. Estimated annual savings include 300,000 hours in data collection and $30 million in officer time. Agencies report up to 75% more efficiency compared to previous solutions.
Veritone has launched SPORT X, an intelligent marketplace designed for sports federations and content producers to license short-form sports videos directly to media buyers. Initially available in the EMEA region, SPORT X aims to enhance revenue streams and visibility for sports rights holders like ATP Media, Euroleague Basketball, and Extreme E. The platform uses aiWARE for efficient content delivery and analytics, with no upfront fees for federations. This initiative complements Veritone's recent AI-voice partnership with Stats Perform.
Kyro Digital has partnered with Veritone to launch a full-stack platform for blockchain applications, enabling enterprise clients to create and deploy Web3 business applications. The collaboration includes launching a marketplace featuring NFTs from Olympic athlete Cody Miller, offering unique utilities for fans. With Kyro's technology, Veritone clients can build and manage white-label marketplaces and streamline their blockchain solutions. This partnership aims to support revenue diversification and enhance client monetization opportunities through NFTs.
Veritone, Inc. (NASDAQ: VERI), a leader in enterprise AI solutions, announced its participation in four investor conferences. Key events include the Stifel Midwest One-on-One Growth Conference in Chicago on November 10, 2022, and the Needham 4th Annual Virtual Big Data and Infrastructure Conference, featuring a fireside chat with President Ryan Steelberg on November 16, 2022. Additionally, Veritone will attend the Roth 11th Annual Technology Event and the UBS Global TMT Conference, both in New York City. For more information, visit Veritone's investor relations website.
Veritone, Inc. (NASDAQ: VERI) has launched Veritone Tracker, an AI-powered solution that enhances video evidence processing in various sectors, including public safety and commercial enterprises. This innovative technology utilizes confidence-based similarity detection to monitor individuals and objects without compromising privacy through facial recognition. The Tracker integrates technology from Vision Semantics Ltd., allowing for more efficient investigative efforts by creating timelines from video footage and offering insights into individuals' activities.
Veritone, Inc. (NASDAQ: VERI), a leader in enterprise AI solutions, announced its upcoming third quarter financial results conference call on November 8, 2022, at 4:30 pm ET. The call will include a Q&A session to discuss financial results and business updates. An Analyst Update and Tech Demo will follow on November 11, 2022, at 11:00 am ET, showcasing platform advancements, company vision, and partner testimonials. Interested participants can join the audio webcast or pre-register for the conference call.
Veritone (NASDAQ: VERI) has formed a strategic partnership with Stats Perform to integrate advanced AI voice solutions into sports reporting. This collaboration aims to deliver real-time sports updates using Veritone's synthetic voice technology and Stats Perform's Opta data. Key capabilities include multilingual commentary and enhanced accessibility for visually impaired audiences. The partnership emphasizes reaching global audiences and transforming fan engagement in sports through innovative content delivery.