Veritone Improves Revenue and Non-GAAP Net Loss Guidance for the Second Quarter of 2020
Summary
“The Veritone team performed very well in the second quarter, despite the continuing challenges posed by the COVID-19 pandemic, widespread unemployment and civil unrest, producing higher-than-expected net revenues in our Advertising and Content Licensing businesses as well as record bookings for our powerful and unique aiWARE platform from Government, Legal and Compliance customers,” said Chad Steelberg, Chairman and CEO of Veritone. The upgrades we have made to aiWARE, the world’s first operating system for AI, are helping our clients lower costs, increase productivity and allow their employees to focus on more creative and fulfilling tasks at a critical juncture in our history when digital transformation is occurring at lightning speed. 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. 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.
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