Veritone misses by $0.13, misses on revs
- Reports Q2 (Jun) loss of $0.88 per share, $0.13 worse than the Capital IQ Consensus of ($0.75); revenues rose 2.4% year/year to $4.2 mln vs the $4.92 mln Capital IQ Consensus
- SaaS licensing revenues from the Company's aiWARE operating system totaled $0.9 million, an increase of 147% compared with the prior year period. The strength in SaaS revenues was offset in part by a decrease in net revenues of 12% in the Company's media agency business, which delivered total net revenues of $3.3 million.
For the third quarter ending September 30, 2018, Veritone expects to achieve the following KPIs for its aiWARE operating system:
- Bring AI customer count to 95, an addition of 9 customers
- Bring AI account total to 655, an addition of 30 accounts
- Bring third-party cognitive engines integrated with aiWARE to 234, an addition of 20 engines
- Process 2.7 million total hours of video and audio content on aiWARE
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