Veritone Stock Price, News & Analysis

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.

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.