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09/05/2019
Veritone Reports Strong Results For First Quarter
Veritone has reported results for the first quarter ended March 31, 2019.
Chad Steelberg, CEO and Chairman of Veritone, commented: "During the first quarter, we delivered strong top line growth across the board, resulting in record net revenues of $12.1 million, above the high end of our guidance range. Advertising net revenues were up 83%, and aiWARE SaaS revenues were up 117%, versus the first quarter of 2018, reflecting both the contributions of our recent acquisitions and organic growth."
First Quarter 2019 Financial Highlights:
• Net revenues increased 177% to $12.1 million, compared with $4.4 million in Q1 2018.
• Generated net revenues of over $400,000 from Government market customers, the Company's first quarter with meaningful revenue from this market.
• Adjusted EBITDAS loss rate improved to 77%, compared with 82% in Q4 2018 and 233% in Q1 2018.
• Cash and cash equivalents and marketable securities were $50.9 million at the end of the quarter.
www.veritone.com
Chad Steelberg, CEO and Chairman of Veritone, commented: "During the first quarter, we delivered strong top line growth across the board, resulting in record net revenues of $12.1 million, above the high end of our guidance range. Advertising net revenues were up 83%, and aiWARE SaaS revenues were up 117%, versus the first quarter of 2018, reflecting both the contributions of our recent acquisitions and organic growth."
First Quarter 2019 Financial Highlights:
• Net revenues increased 177% to $12.1 million, compared with $4.4 million in Q1 2018.
• Generated net revenues of over $400,000 from Government market customers, the Company's first quarter with meaningful revenue from this market.
• Adjusted EBITDAS loss rate improved to 77%, compared with 82% in Q4 2018 and 233% in Q1 2018.
• Cash and cash equivalents and marketable securities were $50.9 million at the end of the quarter.
www.veritone.com
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