Veritone, Inc. develops enterprise artificial intelligence and data solutions for commercial, government and regulated-sector customers. Its updates center on the aiWARE platform, which orchestrates machine learning models for audio, video and other data, along with industry applications such as Broadbean by Veritone for job distribution, iDEMS for investigative digital evidence management, and Discovery Content Intelligence for media archives.
Recurring news also covers Veritone Data Refinery and Veritone Data Marketplace, privacy and redaction tools for unstructured data, customer deployments in public-sector and enterprise markets, technology partnerships, and quarterly operating updates. Company announcements frequently connect its AI software, data services and managed services to hiring workflows, digital evidence, media analysis, data preparation and cloud infrastructure.
Veritone has partnered with PROGRESS to enhance its operations by utilizing the Veritone Digital Media Hub for its historic German film archive. This integration allows PROGRESS to automate cataloging and licensing, translating its user interface into German as the first of six planned languages for 2022. The Digital Media Hub provides real-time indexing, enabling efficient tagging and monetization of over 20,000 films. This advancement is aimed at improving access for German-speaking historians, broadcasters, and filmmakers, ultimately streamlining workflows and enhancing customer experience.
Veritone, Inc. (NASDAQ: VERI) has announced the hiring of seven individuals for its synthetic voice solution business. As part of their employment, the Board of Directors granted equity awards including stock options for a total of 19,500 shares and restricted stock units for 32,425 shares. The stock options have a ten-year term with an exercise price of $6.61 per share and vest over four years. The restricted stock units vest over two years. The new hires are not executive officers, indicating a focus on enhancing operational capabilities in AI solutions.
Veritone, Inc. (NASDAQ: VERI) has acquired VocaliD, Inc., enhancing its Veritone Voice offerings for commercial enterprises. This acquisition allows Veritone to manage the entire voice creation lifecycle, integrating VocaliD's robust voice models and technology. The partnership aims to create a synthetic voice model of Walter Cronkite for educational projects. With this acquisition, Veritone expands its addressable market and enhances client services by offering more sophisticated voice solutions.
Veritone (NASDAQ: VERI) announces its sponsorship of the Snowflake Summit 2022 in Las Vegas from June 13 to 16. This event focuses on data collaboration, showcasing innovations in the Snowflake Data Cloud. Veritone's aiWARE platform integrates with Snowflake, enabling users to analyze unstructured data like video and audio. The partnership aims to enhance decision-making and accelerate product development for enterprises. Key speakers and sessions at the summit will further emphasize the capabilities of data collaboration.
Veritone, Inc. (NASDAQ: VERI) announced participation in several conferences in June 2022 to enhance engagement with investors. The events include the BofA Global Technology Conference on June 7 in San Francisco, the Stifel 2022 Boston Cross Sector Insight Conference on June 9, with a presentation at 1:15 pm ET, and the 8th Annual Roth London Conference from June 21-23 in London. For more details and to schedule meetings, visit Veritone's investor page.
Veritone (NASDAQ: VERI), a leader in AI software, has launched its new application, Navigate, designed to enhance influencer marketing and media planning for its full-service agency, Veritone One. Navigate automates analysis and provides insights by aggregating billions of data points from 30,000 shows. This innovative tool aims to drive client ROI through improved ad performance evaluation and media optimization, enabling media planners to make data-driven decisions rapidly. Veritone One currently executes over 80,000 ad integrations monthly, indicating its significant impact on the advertising sector.
Veritone, Inc. (NASDAQ: VERI) has expanded its partnership with the United States Golf Association (USGA) to enhance its content licensing business. The deal extends an existing championship video archival agreement to include programmatic licensing of USGA's extensive video archive. This collaboration aims to make more unique video and photos available globally for various creative projects, including documentaries and immersive digital experiences. The initiative leverages Veritone's AI solutions for efficient content delivery.
Veritone reported strong Q1 2022 results with GAAP revenue of $34.4 million, an 88% increase year-over-year, and Pro Forma revenue rising 45%. Software revenue surged 288% to $18.2 million, while SaaS customers grew by 45% to 559. New bookings reached $9.6 million, a 292% increase. Despite a GAAP net loss of $28.4 million, cash reserves stood at $237.6 million. The company anticipates Q2 revenue between $38.0 million and $39.0 million, projecting full-year revenue of $180.0 million to $190.0 million.
Veritone (NASDAQ: VERI) has partnered with Google Cloud to implement its aiWARE platform for Globo, Brazil's leading media company, enhancing the management of over 2,800 hours of annual sports content. This collaboration allows Globo to automate search and discovery of digital media, improving operational efficiency and creating a contextual data layer for rights-held assets. Veritone’s technology will facilitate advanced metadata generation, combining video and image recognition, transcription, and more, streamlining content accessibility and supporting Globo’s recent three-year deal with the Brazilian Football Confederation.
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