Veritone Stock Price, News & Analysis

Veritone (NASDAQ: VERI) has announced the deployment of its AI-powered intelligent digital evidence management system, Veritone iDEMS, to assist universities, school campuses, and public safety agencies in modernizing investigations. The system streamlines workflows for audio and video redaction, potentially valuable for handling campus protests and active shooter incidents. iDEMS is based on Veritone Investigate, which serves as a central evidence hub to store, manage, analyze, and share digital evidence files.

The system connects to various data sources, ingests media files, and uses AI models to catalog and tag unstructured data, leading to actionable insights. This technology enhances the ability of institutions like Illinois State University to comply with legal requirements and better protect their communities.

Veritone (NASDAQ: VERI) announced its participation at IBC2024 in Amsterdam from September 13-16. The company will showcase AI solutions for content monetization, advertising performance, and localization at its stand in Hall 1, A.21 at the RAI convention center. Key offerings include:

1. Monetization Assessment
2. Veritone Digital Media Hub
3. Veritone Data Refinery
4. Media Intelligence and Reporting
5. Veritone Advertising Intelligence Suite
6. Voice Cloning and Localization Solutions

As an AWS Advanced Tier Services Partner, Veritone will also demonstrate its AI solutions in the AWS Partner Village. The company's General Manager, Sean King, will participate in a panel discussion on data management for AI adoption in media companies.

Veritone (NASDAQ: VERI) has been selected by pocket.watch as its AI partner to expand contextual targeting across content from pocket.watch's creator network, which boasts over one billion YouTube subscribers. Veritone's aiWARE platform will automate contextual ad targeting and content categorization for pocket.watch's vast library of kids and family entertainment, generating over 10 billion monthly views.

This partnership aims to enhance pocket.watch's ability to distribute and monetize content more efficiently. Veritone's AI Solutions Group will create a custom solution to provide pocket.watch with structured data for managing and scaling their digital influencer content. The collaboration is expected to help pocket.watch meet the growing demand for innovative entertainment while maintaining child-safety standards in advertising.

Veritone (NASDAQ: VERI) and Nuix (ASX: NXL) have announced a strategic partnership to combine their AI expertise in handling growing volumes of video and audio data. Veritone is integrating its AI-enabled redaction capabilities into Nuix's NEO Platform, offering a turn-key solution for investigations, eDiscovery, and compliance initiatives.

The partnership leverages Nuix's unified platform and Veritone's aiWARE ecosystem of 300+ AI models to process various types of evidentiary media files, including body-worn camera footage, car-dashcam video, and CCTV surveillance footage. This collaboration aims to help customers meet public records requests and judiciary deadlines while ensuring the removal of personally identifiable information.

Veritone (NASDAQ: VERI) has won the Netty Award for 'Best Use of AI for Accessibility' with its VocaliD technology. This groundbreaking AI-driven voice technology creates personalized synthetic voices for individuals with speech disabilities, enhancing communication accessibility for over 2 million Americans who rely on augmentative and alternative communication devices.

The technology has shown remarkable results, with clinicians and teachers reporting a 300% increase in communication participation among users. Veritone's commitment to AI for Good principles is evident in this achievement, as it empowers individuals to express themselves authentically and maintain independence.

With one of the world's largest voice datasets, Veritone's VocaliD has helped thousands feel heard and contributed to advancing the science of building expressive voices. This award underscores Veritone's dedication to improving lives through responsible AI use in accessibility and inclusivity.

Veritone, Inc. (NASDAQ: VERI) has announced the availability of its AI-powered media and entertainment solutions in AWS Marketplace. This integration allows customers to easily access, purchase, and deploy Veritone's award-winning AI solutions within the AWS cloud environment. The move is expected to unlock new opportunities for innovation, efficiency, scalability, monetization, and performance in AI initiatives.

Key solutions now available in AWS Marketplace include Veritone Digital Media Hub, Veritone Discovery, and Veritone Attribute. These tools cater to rights holders, rights owners, and content creators in the media, entertainment, and sports industries. The integration aligns with Veritone's recently announced three-year Strategic Collaboration Agreement with AWS and its advancement to Advanced Tier Services Partner status.

Veritone (NASDAQ: VERI) has secured a multi-year agreement with the NCAA to become its official global archive of record and exclusive worldwide footage agent for all NCAA championship content. This partnership leverages Veritone's AI-powered Digital Media Hub (DMH) platform to enhance the storage, management, and distribution of NCAA's extensive championship media assets across Divisions I, II, and III.

The collaboration aims to improve content accessibility for key stakeholders, including NCAA broadcast partners and member institutions. Veritone's licensing capabilities will enable the NCAA to monetize its championship content more effectively across various media verticals. The platform's AI-driven search functions will facilitate quick identification and licensing of relevant footage, meeting the growing demand for sports content while also managing social media content claiming and anti-piracy efforts.

Veritone (NASDAQ: VERI) released its Q2 2024 results, reporting total revenue of $31.0 million, up 11% from Q2 2023. The company achieved total new bookings of $14.0 million, a 67% increase year-over-year. However, the annual recurring revenue (ARR) decreased by 37% to $67.9 million, primarily due to a decline in consumption-based revenue.

Veritone experienced a loss from operations of $17.7 million, improving from a loss of $28.2 million in Q2 2023, thanks to increased revenue and reduced operating expenses. The non-GAAP net loss was $6.9 million, an improvement of 47% compared to Q2 2023.

The company highlighted its expanding public sector sales pipeline, exceeding $100 million, and its strategic initiatives, including a partnership with Amazon Web Services and plans to divest a non-software asset to raise substantial cash.

Veritone (NASDAQ: VERI) has signed a three-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to accelerate cloud-native enterprise AI and generative AI innovation for customers in media, entertainment, sports, talent acquisition, and public sectors. The partnership aims to help businesses overcome AI and cloud transformation challenges by offering scalable AI solutions integrated with robust cloud infrastructure.

Veritone's AI solutions, including Digital Media Hub and iDEMS, are powered by aiWARE™, an enterprise AI platform that processes multivariate data sources using hundreds of AI engines. aiWARE, enhanced by Amazon Bedrock, enables real-time processing and analysis for improved insights and efficiencies. Veritone also provides AI consulting services to support customers at any stage of their digital transformation journey.