Summary
- Shares of Veritone have risen more than 60% year to date, driven by a newly unveiled plan to cut costs.
- Still, the overall business is stagnating, with only single-digit growth rates excluding acquisitions.
- The company is far outclassed by AI companies with much better branding and customer bases, such as C3.ai.
- A >30% concentration risk to Amazon also puts the company’s revenue in jeopardy as the world’s largest retailer looks to cut costs.
- Veritone will next report results on Thursday, March 2.
For further details see:
Veritone Q4 Earnings Preview: Going Nowhere