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) 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.
Veritone (NASDAQ: VERI) has announced the availability of its Artificial Intelligence Solutions Group (AISG) offerings on the AWS Marketplace. This expansion allows organizations to access, purchase, and deploy Veritone's AI solutions directly within the AWS cloud environment.
The AISG offerings include Data/AI Enablement Workshops, AI Solution Development, Generative AI/Retrieval-Augmented Generation, Data Modernization, Data Analytics & Visualization, Database Migration & Optimization, and Database Governance. This move follows Veritone's three-year Strategic Collaboration Agreement with AWS and their achievement of AWS Advanced Tier Services Partner status within the AWS Partner Network.
Veritone (NASDAQ: VERI) has launched Veritone Data Refinery (VDR), a new solution that transforms unstructured data into AI-ready assets using their aiWARE™ platform. The solution addresses the predicted shortage of high-quality text data by 2026, enabling organizations to convert various data types into structured datasets for training Large Language Models and Large Multimodal Models.
VDR creates a centralized repository for managing and securing intellectual property, offering enterprise-grade encryption, GDPR compliance, and SOC2 certification. The platform allows organizations to extract value from Veritone's 20+ applications, develop custom AI solutions, and explore data monetization opportunities through third-party licensing.
Veritone (NASDAQ: VERI) has announced its participation in Needham's 6th Annual Virtual Infrastructure, Data Analytics Software, and Cloud Communications Conference. President and CEO Ryan Steelberg and CFO Mike Zemetra will deliver a presentation on November 20, 2024, at 1:30 PM ET, followed by a 15-minute Q&A session.
Investors can access the live webcast through the Veritone Investor Relations website under the News & Events section. Interested parties can arrange one-on-one meetings with management through their Needham representative or by contacting Veritone's investor relations directly.
Veritone (NASDAQ: VERI) has launched its AI-powered programmatic job advertising service in Australia. The solution optimizes recruitment by automating job ad placements across over 2,000 job boards in 180+ countries, integrating with 120+ application tracking systems. The service includes automated diversity job posting aligned with OFCCP standards. Aveo Group, an early adopter, reports significant improvements in application volume and quality, along with optimized recruitment costs through the implementation of Veritone's AI-driven solution.
Veritone (NASDAQ: VERI) has achieved AWS Media and Entertainment Services Competency in Media Supply Chain and Data Science & Analytics, demonstrating its expertise in AI solutions for media and entertainment operations. This achievement provides customers with technical validation, support, and access to AWS' latest tools. The company becomes eligible for the AWS Migration Acceleration Program (MAP), helping customers migrate data workflows to AWS. Veritone's aiWARE™ platform integrates over 300 AI models across 20+ cognitive categories, offering enhanced data analysis and governance capabilities.
Veritone (VERI) reported Q3 2024 revenue of $22.0 million, down 21% year-over-year. Software Products & Services revenue decreased 28% to $14.7 million, while Managed Services revenue was $7.3 million. The company reported a net loss of $21.7 million. Notable developments include the divestiture of Veritone One for up to $104 million and debt reduction of $30.5 million. The company maintains 3,291 Total Software Products & Services Customers with ARR of $63.3 million. Looking ahead, Veritone projects FY2025 revenue growth up to 30% year-over-year and over 45% improvement in Non-GAAP Net Loss compared to FY2024 guidance.
Veritone released its analysis of Q3 2024 U.S. Bureau of Labor Statistics jobs data and AI job growth trends. Total nonfarm payroll employment increased by 510,000 in Q3, down 4% from Q2, with unemployment steady at 4.1%. AI job vacancies reached 31,610, showing a 6.6% increase from Q2 and a 37.5% year-over-year growth. The median AI job salary was $158,298, up 4.0% year-over-year. AI roles commanded a 25% premium over non-AI IT positions, with AI software developers earning 19% more than their non-AI counterparts. California, New York, and Virginia showed the largest salary gaps between AI and non-AI IT roles.
Veritone (NASDAQ: VERI) has secured a three-year contract with luxury goods company Richemont to enhance its global talent acquisition efforts. The partnership leverages Veritone Job Distribution technology to automate and centralize job postings across more than 2,000 job boards in over 180 countries. As a certified Workday partner, Veritone's solution will integrate with Richemont's applicant tracking system to manage job listings for brands including Cartier, Van Cleef & Arpels, and Montblanc, aiming to reduce time-to-hire and improve candidate experience.
Veritone (NASDAQ: VERI), a leader in human-centered AI solutions, has announced its upcoming third quarter 2024 financial results conference call. The call is scheduled for November 12th at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time). During the call, the company will discuss Q3 2024 results, provide business updates, and hold 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.