Friday, February 23, 2024 6:46:29 AM
First, the heading of the PR, "Veritone Announces Restructuring Initiatives", makes it sound like this is a new initiative, like they just made the decision to do this, this year.
From the PR:
The organizational restructuring is only one component of a larger strategy focused on driving Veritone towards profitability through a range of cost and revenue synergies that will streamline operational efficiencies through continued integration.
Now, here is a quote from the August 08, 2023 Q2 earnings call.
"From a strategic perspective, Broadbean is integrated in over 100 applicant tracking systems with global customers across the EMEA, North America and APAC and is integrated with over 2,500 global job board providers accelerating our previous product roadmap by years. With the addition of our programmatic advertising solutions, we expect to realize significant revenue and cost synergies beginning in the first half of 2024 as we finalize our go-to-market and sales strategies."
Looks to me that they had anticipated the 1st quarter 2024 headcount reduction for a long time now. But like I say, they torpedo'd the stock with that headline, making it sound like this is something they decided to do this year.
Also, when they say back in early August "beginning in the first half of 2024 as we finalize our go-to-market and sales strategies, it looks like this timeline coincides with aiWare commercialization timeline.
Recent VERI News
- World Horse Racing Selects Veritone as Exclusive Digital Asset Management Provider • Business Wire • 06/21/2024 11:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 08:54:03 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 08:52:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:00:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:00:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:00:11 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/14/2024 08:07:27 PM
- Veritone Announces Appointment of Michael Keithley to Board of Directors • Business Wire • 06/13/2024 08:00:00 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 06/12/2024 08:53:10 PM
- Veritone AI-Powered Solutions for Public Sector Now Available in AWS Marketplace • Business Wire • 05/21/2024 11:00:00 AM
- Veritone Announces Strategic Partnership with Creative Artists Agency for the Launch of theCAAvault • Business Wire • 05/14/2024 11:00:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/10/2024 08:03:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:42:19 PM
- Veritone Reports First Quarter 2024 Results • Business Wire • 05/07/2024 08:41:00 PM
- Veritone Launches AI Consulting and Services Group, Achieves AWS Advanced Tier Services Partner Status • Business Wire • 05/07/2024 11:00:00 AM
- Veritone and OPEXUS Team Up to Provide AI Solutions to National Canadian Bank • Business Wire • 04/30/2024 11:00:00 AM
- Veritone Clinches 2024 NAB Product of the Year Award for a Fifth Time with Generative AI Solution • Business Wire • 04/17/2024 08:30:00 PM
- Veritone to Hold First Quarter 2024 Results Conference Call on May 7th • Business Wire • 04/11/2024 08:15:00 PM
- Veritone Enhances Advertising and Content Intelligence Suite to Support Future-Proofing of Client Broadcast Revenues • Business Wire • 04/11/2024 08:00:00 PM
- Veritone and Grabyo Partner to Create AI-Powered Live Clipping, Asset Management and Monetization Solution • Business Wire • 04/04/2024 11:00:00 AM
- Veritone to Showcase Innovative AI Solutions, Including New Ask Veri Tool, at the 2024 NAB Show • Business Wire • 04/03/2024 11:00:00 AM
- Broadcast Media Has a Measurement Issue; Can AI Solve It? • Business Wire • 04/02/2024 11:00:00 AM
- Veritone Launches Ask Veri to Empower Customers to Talk to Their Data for Actionable Insights and Workflow Activation • Business Wire • 03/26/2024 11:00:00 AM
- Veritone Partners with WSI Technologies to Automate Public Records Requests for Primary State-Wide Law Enforcement Agency • Business Wire • 03/19/2024 05:30:00 PM
- Veritone Reports Fourth Quarter and Fiscal Year 2023 Results • Business Wire • 03/12/2024 08:10:00 PM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM
ECGI Holdings Targets $9.7 Billion Equestrian Apparel Market with Allon Brand Launch • ECGI • Jun 25, 2024 8:36 AM
Avant Technologies Addresses Progress on AI Supercomputer-Driven Data Centers • AVAI • Jun 25, 2024 8:00 AM
Green Leaf Innovations, Inc. Expands International Presence with New Partnership in Dubai • GRLF • Jun 24, 2024 8:30 AM
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Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM