NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Veritone, Inc. (VERI), a leading pure play provider of cloud-based Artificial Intelligence (“AI”) analytics and cognitive solutions, was recently featured in a Barron’s article on August 21, 2017 entitled, “The Big Brains Behind Artificial Intelligence,” by Tiernan Ray.
Veritone recently released its second quarter 2017 earnings (which can be found at https://www.sec.gov) and reported continued growth across the company’s business units and key performance indicators (“KPIs”). Veritone reported the following second quarter 2017 KPIs for the Veritone Artificial Intelligence Platform:
- 38 customers on the platform at the end of the quarter, compared with five at the prior year quarter-end, an increase of 660%;
- 169 total accounts on the platform at the end of the quarter, compared with eight at the prior year quarter-end;
- 69 active third-party cognitive engines on the platform at the end of the quarter, compared with 19 at the prior year quarter-end, an increase of 263%; and
- 438,000 total hours of video and audio files ingested and processed during the quarter, compared with 178,000 in the prior year period, an increase of 146%.
Acacia Research Corporation (ACTG) currently owns approximately 25% of the common stock of Veritone, Inc., on a fully diluted basis.
Additional information about Veritone, Inc. can be found at the following video link, https://vimeo.com/203527326/84b3882a64 and at Veritone’s corporate website.
Veritone’s financial and other information, as reported, can be found at the Securities and Exchange Commission’s website, https://www.sec.gov.
Veritone, Inc. is a leading artificial intelligence company that has developed the Veritone Platform, which unlocks the power of AI-based cognitive computing to transform and analyze unstructured public and private audio and video data for clients in the media, politics, legal and law enforcement industries. The open platform integrates an ecosystem of best-of-breed cognitive engines and powerful applications, which are orchestrated together to reveal valuable, multivariate insights from users’ data.
ABOUT ACACIA RESEARCH CORPORATION
Founded in 1993, Acacia Research Corporation (ACTG) is the industry leader in patent licensing. An intermediary in the patent marketplace, Acacia partners with inventors and patent owners to unlock the financial value in their patented inventions. Acacia bridges the gap between invention and application, facilitating efficiency and delivering monetary rewards to the patent owner. In addition, we and our operating subsidiaries may from time to time evaluate, leveraging our intellectual property expertise, other business opportunities. In some cases, these opportunities will complement, and / or supplement our primary licensing and enforcement business.
This news release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, including Veritone’s ability to gain broad market acceptance of its AI platform, to add more cognitive engines and expanded functionality to its platform, to expand its customer base and reach other vertical markets, to general market and economic conditions, as well as other risk factors that are described more fully in Veritone’s public filings with the SEC. Any of the assumptions underlying the forward-looking statements could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Acacia or any other person that Veritone’s objectives or plans will be achieved. Acacia does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.