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) 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.
Veritone, Inc. (Nasdaq: VERI) has migrated its aiWARE and patented Cooperative Distributed Inferencing (CDI) technology to NVIDIA's robust software stack and GPUs. This integration aims to optimize real-time AI model control in complex electrical grids, enhancing processing speeds by up to 100x compared to traditional CPUs. Veritone emphasizes its commitment to improving clean energy management through this partnership. The CDI technology will enable real-time updates for energy devices, optimizing battery control and grid performance.
Veritone (NASDAQ: VERI) has announced its participation in two upcoming virtual conferences in March 2021. The JMP Securities Technology Conference will feature a fireside chat on March 2nd from 4:00 PM to 4:25 PM Eastern Time, along with virtual 1x1 meetings throughout the day. The 33rd Annual Roth Conference will take place on March 16th, with a fireside chat scheduled from 10:30 AM to 10:55 AM Eastern Time. For more information, including how to listen to the webcasts, visit the Veritone website.
Veritone (Nasdaq: VERI) has entered into a significant agreement with CRP Radios in Peru, enhancing its presence in the South American market. This collaboration will allow CRP Radios to utilize Veritone Attribute, a leading AI-driven broadcast attribution tool, to gain insights into advertising performance across eight radio stations. In initial tests, the application showed an approximate 12% lift in website visits for advertisers. The growth of radio ad spending in Latin America, projected to reach $1.28 billion, positions CRP Radios strategically to optimize ad performance and increase revenue.
Veritone, Inc. (NASDAQ: VERI) announced a conference call on March 4, 2021, at 4:30 PM ET to discuss its fourth quarter and fiscal year 2020 results. The call will include a business update and a Q&A session. Participants can preregister or join via a live audio webcast. The company is known for its aiWARE™ operating system, which enhances operational efficiency through AI applications. Veritone is headquartered in Costa Mesa, California, and operates globally.
Veritone (Nasdaq: VERI) has entered a six-year agreement with Extreme E to provide a sports-specific, multi-cloud distribution solution. Starting in April 2021, the collaboration aims to enhance video coverage using advanced technologies like drones and VR while promoting climate change awareness. Veritone's intelligent digital asset management platform, Digital Media Hub, will streamline content distribution and accessibility. The partnership aligns with Veritone's sustainability mission as exemplified by its AI-powered energy solutions, Veritone Energy.
Veritone (NASDAQ: VERI) has announced a strategic partnership with Alteryx (NYSE: AYX) to enhance data analysis capabilities. This collaboration integrates Veritone's aiWARE operating system with the Alteryx platform, enabling users to convert unstructured data into actionable insights. As over 80% of global data is unstructured, this integration is set to unlock numerous applications across various industries. Veritone's AI tools are now available for Alteryx users to facilitate rapid analytics, providing a significant expansion in market reach for Veritone.
FAQ
What is the current stock price of Veritone (VERI)?
What is the market cap of Veritone (VERI)?
What does Veritone, Inc. do?
What is the aiWARE platform?
In which industries does Veritone operate?
Where is Veritone based?
How does Veritone generate revenue?
What awards has Veritone won?
What recent developments are there at Veritone?
What services does Veritone's Managed Services include?
How does Veritone support its AI solutions?
What is the significance of Veritone's aiWARE platform?
