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 (NASDAQ: VERI) announced the registration of its AI Object Notation (AION) as a standard internet media type by IANA. This media type, application/vnd.veritone.aion+json, simplifies AI development, expected to drive enterprise adoption of aiWARE™. AION enables seamless integration of various AI models, enhancing operational efficiencies in data extraction from unstructured content. Veritone aims to facilitate a unified approach to AI model deployment, minimizing programming efforts for developers. The company's focus on operationalizing AI across enterprises is underlined by this new development.
Veritone, Inc. (NASDAQ: VERI) reported record revenue of $19.2 million for Q2 2021, marking the fifth consecutive quarter of growth driven by its aiWARE SaaS Solutions and Advertising. Although GAAP net loss increased to $12.7 million, the non-GAAP net loss improved by $1.8 million year-over-year. The company announced plans to acquire PandoLogic for $150 million, aiming to expand its AI platform. Q3 revenue guidance expects $21.5 million to $22.5 million, while 2021 full-year revenue is projected at $96.5 million to $103.5 million, a significant growth of 73%.
Veritone (Nasdaq: VERI) announced its definitive agreement to acquire PandoLogic, a leader in intelligent hiring solutions, for $150 million in cash and stock. The acquisition is expected to enhance Veritone's market reach and revenue streams, with PandoLogic generating over $50 million in SaaS revenues and $25 million in EBITDA in 2021. The deal, valued at approximately three times PandoLogic's expected 2021 GAAP revenues, is anticipated to close by Q3 2021, subject to customary conditions.
Veritone (NASDAQ: VERI) has announced that law enforcement agencies acquiring body-worn cameras (BWCs) through a Bureau of Justice Assistance grant can access six months of its video redaction software at no cost. Veritone Redact simplifies the process of removing personal identifiable information (PII) from video evidence, enhancing transparency and trust between agencies and communities. The initiative addresses the rising demand for video release due to a 200% increase in public records requests since 2018, which has strained agency resources.
Veritone, Inc. (NASDAQ: VERI) is set to participate in two significant conferences this August: the D.A. Davidson Bison Select Virtual Conference on August 4 and the Oppenheimer 24th Annual Technology, Internet & Communications Conference on August 11. The latter includes a presentation scheduled for 10:15 am PT. Both events will feature virtual 1x1 meetings. Interested parties can access presentations and webcasts for replay here. Veritone specializes in AI technology, powered by its operating system, aiWARE™.
Veritone, Inc. (NASDAQ: VERI) announced its second quarter 2021 financial results conference call scheduled for August 3, 2021, at 4:30 p.m. ET. The call will cover the company's financial results, business updates, and a Q&A session. Interested participants can join via webcast or dial-in, with pre-registration encouraged to avoid wait times. Veritone specializes in AI technology, with its proprietary operating system, aiWARE™, providing solutions for various organizations by transforming data into actionable intelligence.
Veritone (Nasdaq: VERI) has unveiled key enhancements to its aiWARE™ operating system, aimed at improving performance, scalability, and cost-efficiency for AI and ML developers. The aiWARE 3.0 update features reduced infrastructure costs by up to 20%, faster job processing, and a centralized app management system. Enhanced tools like the Automate Studio now allow for better workflow integration and real-time automation. With numerous clients, including the San Francisco Giants, Veritone continues to position aiWARE as a leading platform in enterprise AI solutions.
Veritone, Inc. (Nasdaq: VERI) has partnered with Authentic Brands Group (ABG) to become the official video technology and licensing partner for Sports Illustrated. This collaboration focuses on monetizing Sports Illustrated's extensive video archive, comprising 1.6 petabytes of content. Veritone will utilize its aiWARE technology and Digital Media Hub to automate content management and enhance access to historical footage. The partnership aims to expand the brand's reach, particularly in Europe, while also improving content delivery on Sports Illustrated's digital platforms.
Veritone, Inc (NASDAQ: VERI) is advancing its GRID initiative by developing a device learning model for SMA Sunny Central solar inverters. This initiative aims to enhance clean energy adoption and simplify the integration of distributed energy resources (DERs). The predictive AI model will support utilities in managing energy more efficiently, ensuring asset longevity and grid resilience. The technology is designed to address reliability challenges posed by variable energy sources, ultimately aiming for an interconnected, autonomous electrical grid.
Veritone (NASDAQ: VERI) has announced the award of its 14th US patent for its Conductor technology, enhancing the aiWARE platform. This technology utilizes a proprietary deep neural network to dynamically analyze data and orchestrate optimal AI models, improving efficiency in model selection across various cognitive categories. Veritone aims to democratize AI, enabling faster deployment and cost-effective model performance. Notable clients like Bloomberg and the San Francisco Giants utilize aiWARE for transforming diverse data sources into actionable insights.