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) will participate in the 16th Annual Needham Technology & Media Conference from May 17-20, 2021. Management is set to present on May 18, 2021, at 9:45 am PT/12:45 pm ET. The presentation will be available for replay online. Additionally, Veritone is hosting a Virtual Investor Day and Technology Expo on May 14, 2021, at 9:00 am PT/12:00 pm ET. For further details or to schedule a meeting with management, attendees can contact their Needham representative or Veritone's IR team via email.
Veritone (NASDAQ: VERI) has unveiled its Interaction Analytics solutions, designed to enhance customer interaction insights. These pre-configured AI tools utilize Veritone's proprietary aiWARE system to automatically analyze unstructured data from various communication channels in near-real-time. The launch includes three key solutions: Contact Center Compliance, Contact Center Insight, and Social Media Insight, enabling businesses to boost revenue, reduce operational costs, and improve customer satisfaction. This innovation aims to unlock valuable insights previously trapped in unstructured data.
Veritone, Inc. (NASDAQ: VERI) reported record revenue of $18.3 million for Q1 2021, a 54% year-over-year increase, driven by strong growth in its aiWARE SaaS Solutions and advertising sectors. Despite a GAAP net loss of $30.6 million, the company showed an improvement in non-GAAP net loss, narrowing it to $3.9 million. With over $125 million in cash and no debt, Veritone anticipates Q2 revenue of $18.8 million to $19.2 million. Notable partnerships and awards were highlighted as key business developments.
Veritone, Inc. (Nasdaq: VERI) announces its support for AWS for Media & Entertainment, aimed at enhancing media content management. This initiative offers new services like Amazon Nimble Studio, enabling rapid studio setup, and integrates various AWS capabilities to streamline content production and analytics. Veritone's AI-powered Digital Media Hub will facilitate efficient content distribution and monetization, processing vast amounts of media data monthly. This collaboration is positioned to drive revenue potential for media companies, ensuring secure and accessible content management.
Veritone, Inc (NASDAQ: VERI) has launched its new Grid Reliability in Device (GRID) initiative, aiming to embed intelligent predictive controllers into renewable energy assets like solar inverters and battery systems. This effort is designed to enhance the integration of distributed energy resources, improve grid resilience, and extend the lifespan of these assets. The initiative seeks to address reliability challenges faced by utilities and independent power producers in managing green energy sources, especially during extreme weather events.
Veritone (Nasdaq: VERI) has extended its partnership with Audacy (NYSE: ETM), enhancing its AI-powered content analysis capabilities. The collaboration enables Audacy to utilize Veritone Discovery, an AI-driven application that processes and analyzes unstructured media, offering in-depth insights into content performance. This partnership allows Audacy to visualize advertising effectiveness across 230 stations in 47 markets. Audacy's Chief Revenue Officer emphasized the value of these AI solutions in improving analytics for their clients and partners.
Veritone, Inc. (NASDAQ: VERI) will host a virtual Investor Day and Technology Expo on May 14, 2021, starting at 9:00 am PT/12:00 pm ET. Key highlights will include discussions on new business strategies, live demonstrations of cutting-edge technologies, and testimonials from customers and partners. Management will engage in live Q&A sessions, providing insights into the company's vision and operational advancements. This event aims to showcase Veritone's proprietary aiWARE™ system, which transforms data into actionable intelligence and enhances operational efficiency.
Veritone, Inc. (NASDAQ: VERI) will host a conference call on May 4, 2021, at 4:30 p.m. ET to discuss its first-quarter 2021 results. The call aims to provide business updates and a Q&A session. Interested participants can join via a webcast or dial-in, with preregistration encouraged to avoid wait times. Veritone is recognized for its aiWARE™ platform, which integrates AI applications and solutions for various sectors, enhancing operational efficiency and data intelligence.
Veritone, Inc. (NASDAQ: VERI) reported record revenues of $16.8 million for Q4 2020 and $57.7 million for the full year, driven by aiWARE SaaS Solutions and Advertising. GAAP net loss narrowed to $12.4 million for Q4 and $47.9 million for the year. Management forecasts a revenue increase of 40% for 2021, supported by a strong pipeline and improved SaaS solutions. The company maintains a solid balance sheet with $114.8 million in cash and no long-term debt. Recent highlights include being named to Forbes' 2021 best small-cap companies list and launching new AI capabilities.
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