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  6. Veritone Inc (VERI)

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Veritone Inc

Veritone Inc (VERI)

NASDAQ
3.95
0.22
( 5.90% )
Updated: 09:42:14
Delayed by 15 minutes

Your Hub for Real-Time streaming quotes, Ideas and Live Discussions

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VERI News

Official News Only

Form 8-K - Current report
Edgar (US Regulatory)
May 07 2024
VERI (5.90%)

VERI Discussion

View Posts
KVM KVM 16 minutes ago
Yes all good points
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GBR GBR 23 minutes ago
Lack of focus main reason for 1x revenue valuation in my opinion.

18M unencumbered cash, so currently pursuing all these different business verticals with no resources.

Spend 52M on Broadbean a year ago, and still haven't fully integrated yet, and now announce going into the AI consulting business. All while trying to run an advertising business, public sector business, and M&E business. Jack of all trades, master of none.

Plus all businesses above leveraging aiWARE, a platform that still is yet to gain any traction.

Add to that, in any interview with RS, he never states how Veritone differentiates. He would rather talk about AI for Good, or talk about the old days in the ad business.
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KVM KVM 58 minutes ago
Still just baffles me how can be valued at 1x revenue. I guess investing community just doesnt understand Veri potential as evidenced by lack of analyst coverage and lame questions by analysts who do cover. Yes sale of ad agency will cut off about 60 to 65 mil of revenues and non Ai revenues. So will be left hopefully with about 100 mil of ai revenues and better balance sheet. And then maybe viewed as pure ai company. But looks like again have to wait to another q for something besides same BS been getting for years. This co has been run into ground for years at expense of investors as well as their employees. Time for change of mgt.
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KVM KVM 2 hours ago
Revenue and cost synergies are a result of Broadbean and Pando integration. On 3q 2023 EC talked about how PE firm approached them to buy ad agency for excess of 100 mil and said putting it off to summer of 2024. Looks like putting it off even further. Maybe waiting to increase ad agency revenues to get higher price.
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GBR GBR 13 hours ago
Could be ad agency but not sure how that increases revenue synergies. Plus revenues would drop considerably
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KVM KVM 16 hours ago
Yea think it includes all cash including the encumbered which makes no sense but it is what it is
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GBR GBR 16 hours ago
they also have that 15M liquidity covenant on their debt facility
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GBR GBR 16 hours ago
Could be right. With about 18M left in unencumbered cash, if they wait until September, going to be running on fumes.
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KVM KVM 16 hours ago
Yea don't understand why it should take so long. Said would update on August call so still won't be done until at least Semptember. Still think sale of ad agency.
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GBR GBR 17 hours ago
Maybe so, and also think maybe it has something to do with the non dilutive transaction.

As we discussed on our last call, we remain on a near term pathway and are progressing to vastly
improve our liquidity position on a non-dilutive basis."
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KVM KVM 17 hours ago
Seems like some type of combo of Aiware and AWS tech could be happening
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GBR GBR 17 hours ago
They mention aiWARE sometimes but they don't seem to want to call it their own.

Here's a list

1. Took aiWARE off AWS Marketplace

2. From that job posting a couple months ago for Sr Marketing Manager for AI Solutions Group

Veritone and its partnership with AWS offers customers hundreds of AI engines with capabilities

3. Veritone Investigate
Built on enterprise-grade architecture powered by AWS Commercial

4. Illuminate
Built on the Proven Enterprise AI platform, aiWARE

5. Redact
Veritone is the creator of the only operating system for AI, enabling fast to market extensibility of automated redaction capabilities

6. PR -Veritone Launches AI Consulting and Services Group, Achieves AWS Advanced Tier Services Partner Status

By combining human expertise with aiWARE™ technology, the newly formed group will empower businesses on their digital transformation journey


I still find it odd that Veritone is not adding Digital Media Hub to AWS Marketplace.

That blog post by AWS included Tim Camara, Senior Product Manager on the Digital Media Hub team at Veritone.

The blog post was posted by Veritone on Linkedin, and that post was reposted by an AWS Research Engineer.

I am thrilled to share the work my team and I did to improve the multimodal search experience for our customer.

Maybe Amazon is going to use DMH / aiWARE for their customers as well. We know AWS demonstrated an AWS branded version of DMH.

https://www.linkedin.com/feed/update/urn:li:activity:7194069116293423104/
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KVM KVM 18 hours ago
Can't think of any reason won't mention Aiware when it comes to AWS
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GBR GBR 19 hours ago
Veritone today added Redact to AWS Marketplace

Doesn't say aiWARE

But says, "Veritone is the creator of the only operating system for AI, enabling fast to market extensibility of automated redaction capabilities"

Why not say "creator of aiWare"? Once again, for some reason anything having to do with AWS, they are skirting around any description that aiWARE is Veritone's
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GBR GBR 1 day ago
Whatever this non-dilutive transaction is, get the news out there. Execute on behalf of shareholders for once Veritone management.
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GBR GBR 1 day ago
This was a Deloitte/Intel PR from April 9

"Deloitte has deployed over 35 of Intel’s OpenVino™ AI models in their CortexAI platform to drive greater time to value and efficiency for their clients"

https://www2.deloitte.com/us/en/pages/about-deloitte/articles/press-releases/deloitte-intel-help-enterprises-optimize-ai-genai.html

Hard to say. Maybe sunsetting CortexAI, but the underlying tech is is being applied to another platform or being rebranded? Who knows.
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cpeter7 cpeter7 2 days ago
Great ya that definitely doesn’t look good for aiWARE
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GBR GBR 2 days ago
Don't think so. I saw a Deloitte post the other day that mentioned the sunsetting of CortexAI. I think that serves as not a good reflection of aiWARE prospects, but still ask why pay CS another million and 50k a month. Just don't know what value he provides anymore. Looks more like Veritone just bought him out of the Chairman role. I don't know.
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cpeter7 cpeter7 2 days ago
Is Deloitte Cortex AI still a thing?
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KVM KVM 2 days ago
No revenue growth. 2nd half guidance increase same as prior years that never materializes. Everything is always the next q or 2 and then blame shortfall on Amazon on the economy on inflation on interest rates or poor job growth. Never take any responsibility for their shortfalls.yes I agree need new C suite.
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cpeter7 cpeter7 2 days ago
If that's the case with Bedrock being an orchestration platform for LLMs. In my inexperienced opinion LLMs are the 1st gen int the ai revolution and aiWARE cognitive abilities is 2nd gen. It would somewhat explain the move to consulting to help get customers in the door and help them adopt the technology to eventually use aiWARE. Idk but the earnings call obviously wasn't a homerun but I think they are going in the right direction. I guess it will really depend on the non-dilution deal they keep teasing.
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GBR GBR 2 days ago
agree. But they seem to have some loyal customers like CBS and Iheart. Why does RS stay at the helm? With aiWARE being nothing significant, not taking off like they envisioned, why doesn't he pass the baton to another CEO. Particularly since he dropped his salary to a buck. So he's basically getting stock grants for compensation and dependent on the stock.
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KVM KVM 2 days ago
Nor are any customers
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GBR GBR 2 days ago
To clarify my last post. I think Bedrock focused on LLM generative AI models. aiWARE has been all about cognitive models. It was early last year when Veritone announced Veritone generative AI. So I think there is advantage and interest to combine LLMs with cognitive AI models to target specific use cases. But what do I know. I guess I do know that investors and partners are not tripping over themselves over aiWARE
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GBR GBR 2 days ago
Well cpeter7, a while back you mentioned Bedrock being more for foundational LLM models/generative AI. I had responded that I did not think that Bedrock limited to LLMs. But I think you were right. I had a conversation with Google Gemini on that and it said Bedrock more for foundational generative AI models than cognitive models. But Veritone using generative AI LLMs via Bedrock to integrate with and enhance Veritone aiWARE applications. I think aiWARE can complement Bedrock with more domain specific applications. And I think Amazon would be interested in that. But so far no evidence.
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cpeter7 cpeter7 2 days ago
Exactly doesn’t make sense. As KVM’s mentions all the time aiWARE is an internal product. Which seems to be reinforced by the that aws article you just posted. Veritone should be the last company that should be using Bedrock if aiWARE is working.
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GBR GBR 2 days ago
but still forking over a mil to CS here shortly. why?
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GBR GBR 2 days ago
Yes, it's an obvious question. There were supposed to be partners developing on aiWARE outside ecosystem. What happened to Deloitte reseller agreement. Nobody asks them about this. aiWare just did not take off like CS projected.
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cpeter7 cpeter7 2 days ago
Ya I don’t get how analysts aren’t curious to ask about what’s going on with aiWARE. That’s the main reason I bought in and and it feels like they’ve basically been silent on it for over a year now.
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GBR GBR 2 days ago
still don't know why they are going to write a 1 million dollar check to Chad Steelberg on July 1st. No tipping point in sight.
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GBR GBR 2 days ago
If nothing else, they have made progress on expenses. Maybe might move the stock or at least keep a floor at current levels.
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GBR GBR 2 days ago
One of the conferences is with EF Hutton. There has been an EF Hutton guy liking Veritone Linkedin posts for some time now.
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GBR GBR 2 days ago
Yeah nothing to write home about. Near term transaction becoming long term. No signs of "disruptive" growth or "exploding demand". Maintain year guidance and say very conservative. So either there is some catalyst that needs to take place that unleashes the disruptive growth and exploding demand. Or these are just the typical Steelberg BS quips. Encouraged that they are back to doing analyst conferences. Hope they get more than just softball questions. Surprised Banta today did not ask more interesting questions.
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cpeter7 cpeter7 2 days ago
Thanks for sharing that article seems interesting but need to read over it.

The did double down on the non-dilutive financing option for next quarter. Also the 3 new fed customers and RS's interesting comment on the DOJ at more to come from the initial $15 million contract. Still barely any mention of aiWARE or any sort of clarity of customer use cases. Overall looks like the second half of the year we could see the stock price start to rise substantially. But agree more of the same with a little bit more concrete enthusiasm moving for I think.
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KVM KVM 2 days ago
Waste of time. Just a repeat of 4q EC. Still no analyst coverage. And seems to be no concern for cash position which stands at 13 mil unencumbered at 3/31. Can't understand why everything takes them so long to accomplish
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GBR GBR 2 days ago
This article came out before the closing bell.

https://aws.amazon.com/blogs/machine-learning/how-veritone-uses-amazon-bedrock-amazon-rekognition-amazon-transcribe-and-information-retrieval-to-update-their-video-search-pipeline/
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GBR GBR 2 days ago
Could be. Hopefully see something today on this non-dilutive transaction that vastly improves the balance sheet
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KVM KVM 2 days ago
Like I said a chicken without a head. Hire/layoff. Why no update for Aiware site. If some kind of Aiware deal would have announced it instead of skirting by issues. Maybe a AWS investment?
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GBR GBR 2 days ago
OK so yesterday Veritone added Illuminate and Identify to AWS marketplace.

- Under Veritone Identify, there is no mention of aiWARE

- under Veritone Investigate, just says "Built on enterprise-grade architecture powered by AWS "

- Under Veritone Illuminate, says "Built on the Proven Enterprise AI platform, aiWARE
The proven enterprise AI platform, aiWARE, is the foundation that powers purpose-built applications for public safety and legal professionals alike. "

Why not say "Our Proven Enterprise AI platform, aiWARE. Instead of "the"?

In today's PR, it says "By combining human expertise with aiWARE™ technology, " Why not say our aiWARE platform?
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GBR GBR 2 days ago
maybe announcing a deal after the bell, haha
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KVM KVM 2 days ago
Call today at 5 pm est instead of normal 4.30. Wonder why
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GBR GBR 2 days ago
Next step up would be "Premier" Tier Service Partner.

Still can't understand why no Media and Entertainment.

As an AWS Marketplace seller, Veritone offers numerous AWS-validated offerings in key areas such as machine learning and public safety.

M&E is the legacy vertical. Why no M&E offerings like Attribute and DMH.

Maybe we see a strategic transaction? We know Amazon demonstrated an Amazon branded DMH.
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KVM KVM 2 days ago
I guess AWS Advanced Tier Service Partner doesn't mean much these days.
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GBR GBR 2 days ago
Who knows?

They appear to be selling their soul to Amazon, but so far getting nothing from Amazon in return. Don't understand this since Veritone at least trying to drive business Amazon's way.
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KVM KVM 2 days ago
Wonder what ever happened to their innovation lab in Israel. Don't hear anything on that anymore. And most key employees from Pando deal now gone.
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KVM KVM 2 days ago
Conservative estimates at that
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KVM KVM 2 days ago
Most Pando released employees now working at Hire road.
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GBR GBR 2 days ago
earnings call was on March 12, so yeah, most of 1st quarter was known. They need to get Amazon to acknowledge aiWare. Back in 2022 when RS became CEO, they said partners would focus on aiWARE business outside of ecosystem. Still no evidence.
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KVM KVM 2 days ago
Bad #s. 4q EC on Mar 4. Only had to estimate remaining 27 days. Surely couldn't screw up 1q estimates when 2 months already in the pot.
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KVM KVM 2 days ago
Starting a new group which I'll assume centers around Aiware yet just layed off 14% of workforce and alot of them worked on Aiware. Still running around like a chicken without a head.
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