Veritone Named to Forbes’ 2021 List of Best Small-Cap Companies in America
January 13 2021 - 7:30AM
Business Wire
Strong sales growth, along with a 52-week
return of more than 550%, earned Veritone a spot on the Forbes
ranking
Veritone, Inc. (Nasdaq: VERI), the creator of the world’s first
operating system for artificial intelligence, aiWARE™, today
announced it has been named to the Forbes 2021 list of America’s
Best Small-Cap Companies.
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Veritone earned its spot among Forbes’ list of the top 100
high-performing small-cap companies due to its more than 550%
52-week return through November 25, 2020 and its year-over-year
revenue growth for the twelve-month period ended September 30,
2020. The company's sales growth was bolstered by its
year-over-year SaaS revenue growth of over 40% in its third
quarter.
“Veritone’s growth accelerated as 2020 progressed, and by all
indications, that acceleration is continuing into 2021,
substantiated by expanded use cases of aiWARE into new verticals,
including Energy,” said ROTH Capital Partners Managing Director,
Senior Research Analyst Darren Aftahi, who covers Veritone.
Forbes evaluated companies with a market value between $300
million and $2 billion, with positive sales growth over a 12-month
period and a share price of at least $5. Forbes ranked the top 100
companies based on earnings and sales growth for the latest 12
months and over five years, one- and five-year returns on equity,
and 52-week total return, with greater weight given to the latest
12-month and one-year data.
The Forbes ranking follows a year of significant growth for
Veritone and its stock.
In June 2020, Veritone was added as a member of the small-cap
Russell 2000® Index and broad-market Russell 3000® Index, as part
of the 2020 reconstitution of the Russell indexes. Veritone’s stock
was also added to the corresponding Russell growth and value
indexes.
The Russell 2000 outperformed the S&P 500 in 2020, and
Veritone’s stock was a top performer with 1043% growth for the full
year of 2020.
“We’re proud to be growing as a company while advancing our
mission to build a safer, more vibrant, transparent and empowered
society with AI,” said Chad Steelberg, CEO of Veritone. “From
growing our presence in the media and entertainment and government,
legal and compliance markets, to launching Veritone Energy, 2020
was a banner year for Veritone and we have even bigger things
planned for 2021.”
To learn more about Veritone, visit veritone.com.
About Veritone
Veritone (NASDAQ: VERI) is a leading provider of artificial
intelligence (AI) technology and solutions. The company’s
proprietary operating system, aiWARE™, powers a diverse set of AI
applications and intelligent process automation solutions that are
transforming both commercial and government organizations. aiWARE
orchestrates an expanding ecosystem of machine learning models to
transform audio, video, and other data sources into actionable
intelligence. The company’s AI developer tools enable its customers
and partners to easily develop and deploy custom applications that
leverage the power of AI to dramatically improve operational
efficiency and unlock untapped opportunities. Veritone is
headquartered in Costa Mesa, California, and has offices in Denver,
London, New York and San Diego. To learn more, visit
Veritone.com.
Safe Harbor Statement
This news release contains forward-looking statements, including
without limitation statements regarding the company’s acceleration
of growth in 2021 and its plans for 2021. Without limiting the
generality of the foregoing, words such as “may,” “will,” “expect,”
“believe,” “anticipate,” “intend,” “could,” “estimate” or
“continue” or the negative or other variations thereof or
comparable terminology are intended to identify forward-looking
statements. In addition, any statements that refer to expectations,
projections or other characterizations of future events or
circumstances are forward-looking statements. Assumptions relating
to the foregoing involve judgments and risks with respect to
various matters which are difficult or impossible to predict
accurately and many of which are beyond the control of Veritone.
Certain of such judgments and risks are discussed in Veritone’s SEC
filings. Although Veritone believes that the assumptions underlying
the forward-looking statements are reasonable, any of the
assumptions could prove inaccurate and, therefore, there can be no
assurance that the results contemplated in forward-looking
statements will be realized. In light of the significant
uncertainties inherent in the forward-looking information included
herein, the inclusion of such information should not be regarded as
a representation by Veritone or any other person that their
objectives or plans will be achieved. Veritone undertakes no
obligation to revise the forward-looking statements contained
herein to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20210113005094/en/
Allison Zullo Walker Sands, for Veritone
veritone@walkersands.com 330-554-5965
Veritone (NASDAQ:VERI)
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