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Veritone (VERI) investor relations material
Veritone LD Micro Main Event XIX Investor Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Business overview and strategy
Operates in the AI space, processing unstructured data for over 3,000 customers globally, with a focus on commercial and growing public sector markets.
aiWARE platform uses over 850 AI models and supports both cloud and on-premise deployments, serving clients like ESPN, NCAA, and the Department of Defense.
Recent growth initiatives include Veritone Data Refinery (VDR), enabling large-scale video ingestion and indexing for AI model training, with bookings rising from under $1 million to over $40 million.
The total addressable market is projected to grow from $3 billion to $17 billion by 2032, with ambitions to capture a significant share.
Focus has shifted from acquisitions to core business optimization, reducing costs by over $40 million and improving operational efficiency.
Financial performance and outlook
Last quarter revenue was $24 million, flat year-over-year, but core software revenue grew over 45%.
Projected annual revenue for the year is $108–$115 million, up from $92 million the previous year.
Gross margins are above 60%, with software and managed services contributing $17.5 million and $7–8 million respectively last quarter.
Bottom line is expected to improve over 40% this quarter, with a target to reach operating cash flow break-even by the back half of next year.
Over $100 million in equity was raised recently, with proceeds partly allocated to debt reduction and liquidity improvement.
Product and customer highlights
aiWARE platform enables real-time content management, archiving, and monetization for major media and sports organizations.
Exclusive digital content rights for NCAA events, facilitating third-party licensing and monetization.
Air Force contract positions the company as a backend provider for investigative capabilities across the Department of Defense.
Customer retention is in the high 90th percentile, with ARR exceeding $62 million.
Seasonality is minimal, with some fluctuations tied to major sporting events and content licensing cycles.
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