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actually that Black knight scene reminds me of me still holding this POS. lol
No matter what Chad's ego says the company is worth, there has to be a point where he as to be realistic and choose the best course for shareholders. I would say the current stock price should be enough to pierce his ego. Plus he has a lot more concerned investors than he did back in early 2020. Two cash raises, acquiring Pando with Veritone at 20.50, Acquiring Table Rock management with Veritone at $17.
It reminds me of that Monty Python "black knight" scene in the Holy Grail. LOL
Yea problem with that is CS thinks business at this point has 5 billion Market value. So we will never get bought out.
I think this economy is challenging for all in the industry. Nobody is mopping up. But I think everyone knows that Enterprise AI is going to be big, and that they need to start working to integrate it into their business processes. I believe aiWare is a viable platform, and the stock is cheap. Someone or more than someone, is looking at Veritone assets right now.
Probably doesn't make sense to compare Veritone with C3. C3 also appears to be a sinking ship. But Baker Hughes divested in C3, and invested in a competitor, and looks like it wants to be done with its contract when it expires. If you take Baker Hughes out of the equation, C3 doesn't look much better at all,execept for the cash level. Veritone has managed to generate comparable revenues to (C3 less Baker Hughes), organically and through acquisition, with a lot less resources and recognition.
Also stopped tweeting about new hires. Either stopped cause they looked foolish or just stopped hiring. Either way sad.
Seems to me with 34 mil in quarterly revenue and 700 employees not spread to thin but spread to thick.lol
Yeah, it's not looking good, but why did Ryan drop a half million into the stock. If just to show support, he could have bought a lot less shares.
Still think Veritone sitting better than C3. Baker Hughes is 1/3 of their revenue, and seems clear that Baker Hughes wants out of C3. Amazon is 1/3 of Veritone revenue, I think it was 11% to 14% last quarter, but not clear how the relationship behaves going forward. Veritone is good for Amazon to get more customers onto AWS cloud.
Things look bad right now, because of low stock price and nothing being announced.
But just don't think things could be that bad. Why the silence on Pando, Pandoselect, and integration with aiWare? Is all a total failure and not working out? Why no aiWare marketing push. Is aiWare a failure and they don't see the need to market it? Instead they just say to call Deloitte instead of aiWare. Veritone has invested a lot of time and money on aiWare. Bought Atigeo and integrated big data predicting capabilities into aiWare. Integrations with Alteryx, Snowflake, Nvidia. Heavy marketing of police departments, podcast and radio, licensing sports content. They have demonstrated revenue organic revenue growth and non Amazon Pando growth. 200M market cap, just can't believe there are no opportunities out there and that it is all doom and gloom.
If it were not for the cratered stock price and lack of news, it looks to me like they are very well positioned, but maybe spread thin. But looks like partnerships are in place for Energy and Government, so they can devote most resources to M&E and HR recruiting. Of course we don't know the terms of any partnership deal for energy or government, but it has always made sense to me that they were spread too thin as a small company, and that they needed large partners to help them scale. So it looks like that's what they are doing, but unfortunately we will be the last to know. rambling
And also realize since IPO they only managed to double their generic revenue from 20 to 40 mil. Please get rid of C suite. Incompetent. Ok done venting for today.
IPO price 15. At least 3 major dilution events since IPO. Today price 5.5. Please get rid of C suite. Incompetent. Everyone seems to know it except us a____holes who keep hoping for 1 material PR that hasn't happened since IPO.
Oh forgot have enough cash for 10 years. But forgot to take out encumbered cash and debt. Enough cash for 10 days not 10 years. Please get rid of C suite. Incompetent.
Realize as of 9/30/2022 Veri had 700 employees and 594 customers according to them. Amazon accounted for a third of revenue. Based on 150 mil of guidance which I believe at this point will come in way short and 100 mil of non Amazon revenue which will dry up "shortly" each non Amazon customer on average generates 170k of revenue and each employee produces 153k of revenue. Very sad. And this has been status quo since IPO. So generating enough revenue to cover payroll. But nothing else. The ship isn't turning it is sinking.
Well if we don't see material and accelerating growth in aiWare this quarter then I think we can write it off. Looks like Deloitte is getting busy with CortexAI and looks like many platforms popping up that are marketing moving from point solutions. The market for aiWare is here and it is sad and discouraging that Veritone doesn't want to keep their investors informed as the stock has gotten absolutely crushed. And aiWare is the only reason most investors bought this POS. And we get PRs on m&e awards. And CEO goes underground. Complete lack of concern for shareholders, many whom have bailed with steep losses. That said, I still believe Deloitte is licensing AIware capabilities. Just have no idea how much the IP is worth.
When you go on Cortex ai site it says powered by Deloitte and not Veritone so dont know how involved Veri actually is since not being powered by Aiware.
Call Deloitte.lol
Would should hear something from Veritone soon on CortexAI. We probably won't, but we should. lol. Maybe this is what shortly is all about.
https://www.linkedin.com/feed/update/urn:li:activity:6980596035207274496/
For 3q and 4q do they benefit from increase political advertising like they did in the past elections.
Veri One a marketing co. Can't even market own stock. Sad. But I will tell you when I watch TV any commercial I see seems to be a Veri One client. Purple, Draft Kings, Hello Fresh, and more.
Great, we need more awards. It's obvious they aren't concerned about the stock price and not concerned about promoting aiWare.
Unbelievable. Cannot make up these useless PRs as the stock sinks.
When it comes to energy, they had the TECO trial, and said massive backlog waiting for those results. Since then they've mentioned several partners and last earnings call said now in process of generating revenues.
We are now actively engaged in generating revenues from multiple operators, each with significant potential for expansion.
It's CDI technology, and CDI applied to aiWare. Im sure there is a degree of product development specific to energy, but wonder if the trial with Teco serves to prove the technology in other verticals such as healthcare.
If Teco was a real world trial, and it took a long time, I would think it served to prove the technology predictive capabilities regardless of industry.
Another thing is that this was supposedly developed with Microsoft, so we have no idea what Microsoft is doing on their end.
This is speculation, but Wolf Kohn was developing technology for Microsoft and in that old article his work was used in Microsoft Dynamics. I'm guessing Microsoft had a continued interest in CDI with Atigeo, and When Vertione bought the Atigeo assets, continued partnership with Microsoft. I know Microsoft had release their AZURE HEalth Data Services, which from articles sounded to me like capabilities similar to CDI. So who knows, but maybe a Veritone has some of their capabilities in Microsofts offerings and there is some type of license agreement in place. But yeah, still lots of beta and proof of concept, so I guess we will find out when Enterprise AI in the various industries really get off the ground. I think it's starting to happen, and that's why Veritone has expected momentum to build in second half of 2022 and progress in 2023. Maybe we will be pleasantly surprised when they finally reveal 2023 guidance.
We know in retail working with Epson.
They still list Healthcare, Insurance, Retail and Fincial Services as industries they service. So something possibly going on there. Maybe those verticles are all in beta and why investors aren't informed because have no paying customers as of today. Again pure speculation.
Would have to think that if CDI is as good as they say, then why wouldn't they have partners working on CDI in others verticals like healthcare. But as stated before speculation doesn't mean anything. What matters right now is the stock is a POS and Veritone keeping it's investors uninformed.
Yes AI Enterprise definitely early, but they dug themselves in a hole a little because the refence very shortly and billion end users. I agree all that matters is revenue. And yes I'm betting that in a year or so what they've preached prior does start to come out in PRs, otherwise I wouldn't remain in. Also I noticed from a post from Empower Energies the CEO of the company visited there both which is a positive sign
Also I feel like healthcare is MIA for know because they are focused on government and energy.
To be fair, if I had to guess, I would say, despite the grandiose stuff like billions of end users, etc, I would guess that things are happening the way they describe for the most part. Seems that Chad started taking a back seat about the same time that they expanded their partnership with Deloitte, and maybe established other partnerships CACI, etc. They say they are focused on metaverse and M&E, while pursuing energy and government verticals through partners.
Deloitte has been hiring for CortexAI and AIops.D, yet we don't hear much from them either. aiWare is a white label offering in many cases, that we will probably here nothing about except via revenues. And it does appear that aiWare has started growing. The key will be if it can continue.
Actually if I think about it, the fact that they are not hyping aiWARE in public might be encouraging, because if they were actively promoting aiWare it might be a sign that they are aggressively fishing for business. They appear to not have to do that, so maybe partnerships are in place with terms they are satisfied with. ANother thing is, Enterprise AI is still early, and I dont see any other platforms out there killing it. If I has C3 stock, I would be worried about all of these GSI companies like Deloitte Booz Allen, etc, that have closer relationships with their customers. The fact that Veritone has partnerships with many of these players is encouraging, although we still don't know the strength and depth of these partnerships. Revenues will answer that. Meanwhile, very frustrating.
I think Chads at the prove it stage. He makes comments about how wonderful aiWARE is and how it will be the os of the future but as of yet nothing to show for it. I hope he’s working nonstop to achieve his vison and doesn’t have the time to be a salesman. Which, if this is true he should really step down because he isn’t preforming the duties of a CEO. Just my opinion
Ryan said "grossly undervalued" at 20 bucks.
They are supposedly generating revenues in energy per Ryan comment.
We are now actively engaged in generating revenues from multiple operators, each with significant potential for expansion.
And for the life of me I don't understand why there is nothing in the way of applying CDI technology to other verticals like healthcare. I just can't believe that they would pursue just energy alone, especially since they are pursuing it with partners. There must be partnership opportunities out there to apply the technology to other verticals. Microsoft has had CDI on Azure marketplace for a long time now. Can't believe there is nothing. Ryan mentioned healthcare a little while ago, but no elaboration.
Correct. Lol. CFO stated keeping on same track as they have been doing and it should turn the ship shortly.
I hate to think this, but it could very well be that Chad went all in thinking this was aiWare breakout year and aggressive hiring was not because of any specific contracted growth opportunities. Just build it and they will come. Also think that part of the reason he lays low in public these days is because he rubs people wrong. He is so sure of himself, and believes he is pursuing AI in exactly the right way, that he comes across as self admiring and grandiose. I notice when he is in conversation with other "experts" in AI, and if they make a comment he responds by saying "correct", as if he is the ultimate authority on the subject. Just think maybe they decided they needed to pull him back to not strain relationships.
Cause company success is based on headcount and not revenues or profitability.
Late last year they were saying how they needed to beef up their services team, by hiring or acquiring, because they were having trouble motivating integrators to service aiWare. So then they beef up their services, and now they are going with integrators, expand partnership with Deloitte, etc. Don't get it. They still have not announced anything that justifies the increased headcount.
Just goes to show you how easily they could cut costs without sacrificing much in the way of revenue. They say they are leaving GRI and Energy to partners. And I guess if you look at the new website, the Veritone Business Ecosystem doesn't include GRI and energy. It does include Pando, so looks like we could see a PR bringing Pando in house, and cutting the fat. Maybe that's why the amendment, so they can get it done sooner than waiting until end of year.
Hundreds of state and local gov customers and fed customers (DOD, DOJ etc)and energy customers And not even 1 mil in quarterly revenue. Quarterly expenses has to total at least 10 mil.for that verticle.
Yeah GRI revenues probably mostly comprised of redact, and maybe illuminate and identify applications. Jury still out on aiWare
On another positive note CFO states have enough cash to operate for 10 years. Must have forgot about the debt. Oh yea not due for another 4 years. So no worries there.
On positive note new website looks pretty good.lol
Agreed, speculating has served no value with this POS. But I am going to guess that the silence on aiWARE is due to partners. Otherwise, I don't care how stupid management is, if you want aiWARE to be a major enterprise AI platform, you should be smart enough to know that you have to promote it. Instead silence. Same goes for Pando and Pandoselect and whatever the AI recruiting standard is the CS spoke about it. Are they really thinking that the best strategy is not to promote it? lol
And quarterly revenue of 1 mil for GRI is truly pathetic. Gacek and CS and energy crew should be ashamed. Why they broke it out to highlight this disaster is beyond me. I case incompetent mgt. Think I have said that before.
Well again tired of speculating with everything they do. EC and revenue guidance should shine light on whether Ai and specifically Aiware thrives in good times(didn't see it) and bad times.
Another thought is that we are nearing the end of the third quarter. They gave guidance as if Amazon was going to keep the hiring brakes on for the rest of the year, but said in the 10Q that Amazon revenues should resume some time in the third quarter. Are they going to make their shareholders sweat it out until November to see what the status is, and what it is that Veritone says should turn the ship around shortly? If so, disgusting.
If Veritone right now does not have the means to create significant shareholder value on their own, then the market is valuing them low enough to where they should be able to attract investment by someone who can create shareholder value. Either way the silence along with the constant drubbing of the stock is disgusting.
For whatever reason it was part of the original agreement that Pando wanted to be a standalone company. And I guess earnouts were based on them being a standalone company. I don't get it either. What is the advantage? Why not proceed with integrations ASAP. I believe integrations were taking place from the start though on Veritone's end, and if Veritone uses Pando assets to make money then that money would go towards the earnout.
What I've always wondered about this purchase is that when Pando has such a huge customer in Amazon, if I were running Pando, I wouldn't make a strategic move unless I knew Amazon was in favor of it. Seems crazy to me to think that Pando would go to Amazon and say hey customer, we are being acquired by Veritone and will soon integrate with Veritone tech whether you like it or not. Just seems to be that Amazon played some role in the process. Also, if you believe Chad, it was with partner Amazon that they created a new AI recruiting standard. Which we still have heard nothing about. I presume it has something to do with PandoSelect, which they said they were announcing on August 31, and then barely said anything about it. Don't know if the recent amendment to the Pando agreement is related to all this or not. I guess we have to presume that nothing is going on with Pando unless told otherwise. The market and stock price says nothing is going on with either Pando or Veritone, and Veritone is either satisified with their stock getting crushed or they have nothing that they can announce to support the stock. Sucks being a veritone shareholder I guess.
And then realize that that wasn't a great move so pay them 10 mil so could start integration 3 months sooner. Great mgt.
Why would you buy a company specifically for integration purposes and then wait a year to go forward.
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