Veritone, Inc. - VERI STOCK NEWS

Veritone, Inc. (NASDAQ: VERI) has released its first nationwide Transparency and Trust Report, surveying 3,000 U.S. citizens on law enforcement relationships. Key findings include that only 1 in 5 people support defunding the police, while 67% trust law enforcement agencies. The report highlights the role of technology in enhancing transparency and efficiency. Notably, 61% of respondents support using facial recognition for public safety. The report aims to bridge the perception gap between communities and law enforcement, emphasizing the need for improved transparency.

Veritone, Inc (NASDAQ: VERI) has announced a new three-year exclusive international licensing agreement with CBS News. This partnership aims to enhance content search and discoverability, allowing easy access to millions of hours of archival and breaking news content for the global creative community. Veritone's aiWARE technology will aid in digitizing CBS News archives, improving the user experience through advanced transcription and AI-driven metadata. This agreement strengthens their long-standing collaboration and supports Veritone's international expansion efforts.

Veritone has completed its acquisition of PandoLogic for $150 million in a cash and stock deal, expected to enhance its AI and human capital management capabilities. PandoLogic generated over $50 million in SaaS revenues and $25 million in EBITDA in 2021. This strategic acquisition is anticipated to provide immediate accretion and diversify Veritone's revenue streams while addressing significant hiring challenges across industries.

Veritone announced a three-year agreement with RECUR to create NFTs using Pac-12 Networks athletics video content, enabling fans to own digital collectibles. Veritone will facilitate NFT creation by coordinating with student-athletes under the Pac-12 NIL Licensing Program. This partnership aims to democratize NFT access and enhance fan engagement by allowing them to collect and resell memorable college sports highlights through the new NFTU marketplace. Veritone's aiWARE technology will support this initiative, emphasizing the company's leadership in AI and digital content licensing.

Veritone, Inc. (Nasdaq: VERI) has expanded its engineering and product development teams by hiring five new senior members. The company’s Compensation Committee has granted equity awards comprising options for 93,000 shares and restricted stock units for 64,000 shares, with exercise prices ranging from $17.40 to $21.66. These options will vest over four years, while the restricted stock units will vest over two to four years, contingent on the employees’ ongoing employment. None of the new hires are executive officers.

Veritone, Inc. (NASDAQ: VERI) has announced a partnership with Mythical Entertainment, enabling the creation and management of synthetic voice models through its MARVEL.ai platform. With a reach of 75 million subscribers on YouTube, Mythical aims to enhance content monetization and localization using Veritone's voice-as-a-service (VaaS) solution. This collaboration is part of a rapidly growing voice commerce market, projected to reach $80 billion by 2023, and reflects Veritone's commitment to innovative content creation and licensing services.

Veritone (NASDAQ: VERI) announced the registration of its AI Object Notation (AION) as a standard internet media type by IANA. This media type, application/vnd.veritone.aion+json, simplifies AI development, expected to drive enterprise adoption of aiWARE™. AION enables seamless integration of various AI models, enhancing operational efficiencies in data extraction from unstructured content. Veritone aims to facilitate a unified approach to AI model deployment, minimizing programming efforts for developers. The company's focus on operationalizing AI across enterprises is underlined by this new development.

Veritone, Inc. (NASDAQ: VERI) reported record revenue of $19.2 million for Q2 2021, marking the fifth consecutive quarter of growth driven by its aiWARE SaaS Solutions and Advertising. Although GAAP net loss increased to $12.7 million, the non-GAAP net loss improved by $1.8 million year-over-year. The company announced plans to acquire PandoLogic for $150 million, aiming to expand its AI platform. Q3 revenue guidance expects $21.5 million to $22.5 million, while 2021 full-year revenue is projected at $96.5 million to $103.5 million, a significant growth of 73%.

Veritone (Nasdaq: VERI) announced its definitive agreement to acquire PandoLogic, a leader in intelligent hiring solutions, for $150 million in cash and stock. The acquisition is expected to enhance Veritone's market reach and revenue streams, with PandoLogic generating over $50 million in SaaS revenues and $25 million in EBITDA in 2021. The deal, valued at approximately three times PandoLogic's expected 2021 GAAP revenues, is anticipated to close by Q3 2021, subject to customary conditions.