Veritone Stock Price, News & Analysis

Veritone (NASDAQ:VERI) reported its Q4 and fiscal year 2024 results with annual revenue of $92.6 million, down 7% year-over-year. The company's Q4 revenue was $22.4 million, a 17% decrease from Q4 2023.

Key financial highlights include:

• Software Products & Services revenue: $61.1 million (down 11% YoY)
• Annual Recurring Revenue (ARR): $58.8 million from 3,237 customers
• Net loss for 2024: $37.4 million, improved from $58.6 million in 2023

Notable developments include:

• Completed divestiture of media agency for up to $104 million
• Raised $20.3 million through common stock offering in January 2025
• Processed over 10.5 petabytes of data in 2024
• 2025 revenue guidance: $107-122 million

Veritone (NASDAQ: VERI) announced that Vital Voices Global Partnership has selected its AI-powered Digital Media Hub (DMH) for digital asset management. The collaboration, facilitated through AWS Marketplace, aims to enhance Vital Voices' media management and storytelling capabilities.

Vital Voices, a nonprofit supporting over 47,000 women leaders across 188 countries, will utilize Veritone's DMH to centralize media assets, leverage AI-driven metadata tagging, and enhance search capabilities. The platform, built on Veritone's aiWARE enterprise AI platform, streamlines content workflows through automation and enables real-time content sharing.

The solution is currently used by major brands including NCAA, iHeartRadio, NBC Universal, CNBC, Bloomberg, and CNN. The DMH platform is available through AWS Marketplace, leveraging AWS's secure infrastructure for scalability and performance.

Veritone (NASDAQ: VERI), an enterprise AI solutions provider, has scheduled its fourth quarter and full year 2024 financial results conference call for March 13, 2025, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). The company will present financial results, provide business updates, and host a Q&A session.

Participants can join via audio webcast or dial in using domestic (844) 750-4897 or international (412) 317-5293 numbers. Pre-registration is available to receive a unique PIN and dial-in number.

Veritone (NASDAQ: VERI) has achieved 'Awardable' status on the Department of Defense's Tradewinds Solutions Marketplace with three AI solutions: Illuminate, Redact, and Track. These applications are part of Veritone's Intelligent Digital Evidence Management System (iDEMS), built on the aiWARE platform.

The solutions include: Illuminate, an AI-powered investigative tool for searching and analyzing video, audio, and text data; Redact, which automates sensitive information redaction in multimedia evidence; and Track, a digital video analytics tool for tracking individuals and vehicles across multiple sources without using personally identifiable information.

The Tradewinds Marketplace is DoD's premier platform for AI/ML procurement. This achievement builds upon Veritone's existing relationships with federal agencies, including previous agreements with the Department of Defense and Department of Justice.

Veritone (NASDAQ: VERI) announced a new webinar titled 'Why Success with AI Requires an Evolution,' scheduled for February 18, 2025. The virtual event will feature experts from IDC, AWS, and Veritone discussing strategic AI adoption approaches.

The webinar aims to address how organizations can achieve competitive advantages through AI implementation, with companies targeting a 70% or higher success rate for AI projects. Key topics include identifying strategic AI opportunities, the importance of trusted AI partners, data modernization, and responsible AI adoption practices.

Speakers include Nancy Gohring from IDC, Pradyut Bafna from AWS, and Art Zepf from Veritone, with Jim Malone from IDG/Foundry/CIO Marketing Services moderating.

Veritone has released its analysis of Q4 and annual 2024 U.S. labor market trends, highlighting significant growth in AI job opportunities. While total nonfarm payroll employment showed a 2.94% decrease in Q4, AI job openings increased by 7.3% compared to Q3 2024 and 36.6% year-over-year. The analysis reveals that 2024 saw 81,298 AI job openings, a 24.5% increase from 2023.

The median annual salary for AI roles was $155,688 in Q4 2024, showing a slight 1.5% decrease from Q3, but the overall 2024 median of $151,996 represented a 2.7% increase from 2023. Amazon led AI hiring with 786 openings, followed by Apple (702) and TikTok (625). The U.S. unemployment rate remained at 4.1%, while average hourly earnings across all sectors increased by 3.9% in 2024, the slowest pace in three years.

Veritone (NASDAQ: VERI) has announced a major enhancement to its Veritone Contact solution with Contact Analytics, a tool designed to transform how law enforcement agencies analyze stop data. Built on the aiWARE enterprise AI platform, this solution enables agencies to access near real-time analytics on traffic and pedestrian stop data, supporting compliance with California's Racial and Identity Profiling Act (RIPA).

The new Contact Analytics feature allows agencies to instantly analyze their complete stop data repository, rather than waiting for annual reports from the California State Department of Justice. The system offers customizable filters for data analysis by various parameters including year, month, race, and use of force, along with detailed demographic breakdowns and comprehensive insights into stops, searches, and force metrics.

Veritone (NASDAQ: VERI) has announced a registered direct offering of 8,023,716 shares of common stock at $2.53 per share (or pre-funded warrants at $2.52) to Esousa Group Holdings, The offering is expected to generate approximately $20.3 million in gross proceeds before expenses.

The pre-funded warrants come with a $0.01 exercise price, are immediately exercisable, and have a five-year term. The offering is anticipated to close around January 3, 2025. Veritone plans to use the net proceeds for working capital, general corporate purposes, capital expenditures, debt service, repayment of indebtedness, and further development of its AI platform and applications.

The offering is being conducted under a shelf registration statement on Form S-3 that became effective on June 21, 2024.

Veritone (NASDAQ: VERI) has renewed its exclusive global licensing agreement with CBS News, expanding the partnership to include CBS Owned Stations' local news content. The multi-year contract renewal enables Veritone to continue providing content licensing solutions, giving creators access to millions of hours of CBS News archival and breaking news content.

CBS News and Stations will utilize Veritone's aiWARE enterprise AI platform, which enhances content accessibility across distribution channels and creates new monetization opportunities. The platform indexes the CBS library with time-correlated metadata, enabling precise search and retrieval of specific scenes, quotes, or highlights, while automating rights management and delivery.