Roth Capital maintained a buy rating with a $15 price target stating that “We are more encouraged by the use case of the platform continuing to expand, not only into additional verticals but also clients that are using aiWARE continuing to increase content, while many have signed on to use additional apps ( GM +). As the pipeline ramps, we continue to be encouraged by progress and believe improved EBITDAS, as the year progresses, should be a recipe for share price improvement.”
Veritone (NASDAQ:VERI) is up 1.8% after a Q1 beat where it more than doubled revenues, both with acquisitions and organic growth.
Those revenues grew 177%, to $12.1M from $4.4M. That included $6.2M from recent acquisitions.
Operating losses grew to $16.5M, and net loss to $16. 3M .
Adjusted EBITDAS (the "S" is for "Stock-based compensation expense") was -$9. 3M , slimmer than -$10.2M a year ago.
Veritone , Inc. engages in the provision of artificial intelligence (AI) computing solutions to media and entertainment, government, and legal and compliance industries. It operates through the following segments: Advertising; aiWARE SaaS Solutions; and aiWARE Content Licensing and Media Services. The Advertising segment places advertisements for clients, primarily with radio broadcasters, podcasters and digital media producers. The aiWARE SaaS Solutions segment offers solutions through a combination of its direct sales force and indirect channel partners such as value-added resellers (VARs), distributors, system integrators, managed services providers, and referral partners. The aiWARE Content Licensing and Media Services segment sells and markets activities relating to its digital content licensing services business through its direct sales force