Veritone Stock Price, News & Analysis

Veritone (NASDAQ: VERI), a leader in enterprise AI solutions, announced its conference call scheduled for May 2, 2023, at 4:30 pm ET to discuss its Q1 2023 financial results. During the call, the company will update stakeholders on business performance and conduct a Q&A session. Interested participants can join through an audio webcast or a dial-in option. Veritone’s aiWARE™ platform facilitates AI-driven data management across various sectors, supporting brands in enhancing operational efficiency and profitability. The company's commitment to AI innovation positions it as a key player in the industry. For more details about their offerings, visit Veritone.com.

Veritone (NASDAQ: VERI) will showcase its generative AI solutions at the 2023 National Association of Broadcasters (NAB) Show from April 16 to 19 in Las Vegas. Veritone aims to demonstrate how its aiWARE platform can transform content creation, management, and monetization for media organizations. Key sessions include topics on personalization of content, diverse audience engagement, and accelerating content monetization. The presence of 100,000 attendees and numerous exhibitors highlights the event's significance. Veritone's innovative tools empower businesses to unlock new revenue streams while enhancing audience engagement.

Veritone, Inc. (NASDAQ: VERI) announced the granting of equity awards under its Inducement Grant Plan to four new employees. This includes options to purchase 189,942 shares of common stock and restricted stock units for 151,139 shares. The stock options have a ten-year term with an exercise price of $5.37 per share and vest over four years. The restricted stock units vest over a three or four-year period. Importantly, none of the new hires are executive officers. Veritone continues to strengthen its workforce as a leader in enterprise AI solutions, supporting various sectors with its aiWARE™ platform.

Veritone (NASDAQ: VERI) has announced an extension of its multi-year partnership with Augusta National, Inc., serving as the North American licensing agent for the Masters Tournament. This collaboration enhances Veritone's position in the digital asset management and licensing arena. Utilizing its advanced AI platform, Veritone will continue to manage and monetize archival video content for Augusta National, including the Masters Tournament and Augusta National Women’s Amateur events. The partnership, which dates back to 2009, is anticipated to generate incremental brand exposure and archival revenue for both entities.

Veritone reported a 30% increase in fiscal year 2022 revenue to $149.7 million. Ending software customers grew by 21% to 642, while Q4 new bookings surged 141% year over year, reaching $20 million. The company retired $60 million of debt for $39 million in cash and ended 2022 with $184 million in cash and equivalents. However, Q4 revenue fell 20% to $43.9 million, and the loss from operations increased 40% to $10 million. Full-year net loss improved to $25.2 million. Looking ahead, Q1 2023 revenue is projected between $29.5 million and $30.5 million.

Veritone (NASDAQ: VERI) announced that Audacy (NYSE: AUD) has expanded its use of Veritone Attribute, enhancing analytics for advertising campaigns. This tool provides insights into campaign performance across Audacy's radio brands, helping advertisers measure the effectiveness of broadcast ads compared to other media. Research indicates that advertisers utilizing attribution reporting typically increase spending and reduce campaign cancellations. Veritone Attribute offers detailed metrics on the correlation between ad exposure and website traffic, enabling targeted campaign optimizations. This partnership aims to optimize advertisers' investments and improve their overall campaign outcomes.

Veritone, Inc. (NASDAQ: VERI) has launched Veritone Generative AI, a new enterprise-grade Platform-as-a-Service (PaaS) that integrates public large language models like GPT-3 and ChatGPT alongside domain-specific models. This solution empowers organizations to transform data into custom content and predictive AI-generated material, enhancing engagement and revenue opportunities.

The platform is particularly relevant in industries such as talent acquisition, sports, advertising, and law enforcement, aiming to improve efficiency and reduce costs. Additionally, Veritone plans to expand its capabilities to support image and video generation models by Q2 2023.

Veritone, Inc. (NASDAQ: VERI) has scheduled a conference call for March 2, 2023, at 4:30 pm ET to discuss its Q4 and full year 2022 financial results. This call will include a business update and a Q&A session. Investors can join the call via a live audio webcast or dial-in. Additionally, Veritone's management will participate in the JMP Securities Technology Conference from March 6-7 and the 35th Annual Roth Conference on March 13-14.

Veritone, Inc. (NASDAQ: VERI) announced strategic actions under newly appointed CEO Ryan Steelberg, focusing on enhancing profitability and investments in AI applications. The company aims for annualized savings of $12-$15 million in 2023 by reducing operational costs, divesting its Energy group, and consolidating expenses. A significant achievement includes the repurchase of $60 million in debt at 65% of par value. Steelberg emphasizes Veritone's market leadership in AI software, highlighting strong customer retention and growth as key drivers for future success.