Business
Veritone Reports Record Q2 Results, Raises Guidance for Fiscal 2021
Q2 aiWARE SaaS Solutions up 86% year over year Posted Record Revenue in Q2 of $19.2 Million, Up 45% Year over Year Increased Q2 Gross Profit 47% Year over
About this update from Veritone, Inc.
[{"type":"text","content":"\nQ2 aiWARE SaaS Solutions up 86% year over year\n\n\nPosted Record Revenue in Q2 of $19.2 Million, Up 45% Year over Year \n\n\nIncreased Q2 Gross Profit 47% Year over Year to $14.0 Million\n\n\nReported Q2 GAAP Net Loss of $12.7 Million\n\n\nImproved Q2 Non-GAAP Net Loss 32% Year over Year to $3.9 Million\n\n\nRaised Full Year 2021 Guidance, Increasing Midpoints in Revenue from $81 Million to $100 Million and in Non-GAAP Net Loss from $15.5 Million to $7.0 Million*\n\n\nSigned a Definitive Agreement in July to Acquire PandoLogic Ltd, an Intelligent Hiring Platform, with Pro Forma 2021 Revenue over $50 Million and Non-GAAP Net Income over $25 Million\n\n\n DENVER--(BUSINESS WIRE)--\nVeritone, Inc. (NASDAQ: VERI), a leading provider of artificial intelligence (AI) technology and solutions, today reported results for the quarter ended June 30, 2021.\n\nVeritone reported revenue of $19.2 million for the second quarter of 2021, reflecting its fifth consecutive quarter of record contributions from aiWARE SaaS Solutions and Advertising. For the second quarter of 2021, GAAP net loss was $12.7 million. Non-GAAP net loss was $3.9 million, improving $1.8 million compared with the second quarter of 2020.\n\n“Q2 was once again exceptional, and we achieved our fifth consecutive quarter of record results,” said Chad Steelberg, Chairman and CEO of Veritone. “Executing on all fronts, we completed a major milestone with the release of aiWARE 3.0, including next generation synthetic voice technology Marvel.ai, successfully deployed our energy Forecaster and Controller at a major utility in the East Coast, and signed a definitive agreement to acquire next generation intelligent hiring platform, PandoLogic. The acquisition is expected to be immediately accretive beginning in Q4 2021, transforming our operating profile, with scale and increased SaaS revenue contribution. With our increasing confidence and improving visibility into our continued growth, we are raising our full year guidance.”\n\nRyan Steelberg, President of Veritone added, “Veritone’s strength continues to build as our customers find increasing value in our AI solutions and our sales cycles and new market penetration are accelerating. Our go to market strategy and partner relationships are maturing, as we continue to expand the penetration of existing accounts and land new accounts i...