AI software, applications and services provider Veritone Inc. reported second-quarter revenue of $24 million, at the top end of the company’s guidance and above analysts’ estimates, sending the shares up 7% in after-hours trading..
“In the second quarter, we achieved the top end of our updated June revenue guidance of $24 million, grew our core AI software revenue 45%, and remain on track to achieve profitability by the second half of 2026,” said President and Chief Executive Officer, Ryan Steelberg in a statement accompanying the earnings release.
The company’s shares rose 7% to $2.47 apiece in at 6:47 p.m. in New York, after closing at $2.31 with a market cap of $110 million.
Veritone’s headquarters moved to Denver from Costa Mesa while key executives remain in Orange County.
For further details, see the August 18 print edition.
