Replies to post #6520 on Veritone Inc (VERI)

[GBR]

I thought they were being conservative when they gave full year reduced guidance last quarter, under the assumption Amazon would maintain reduced hiring. Then put out 10Q saying they expect Amazon to pick up hiring in the 3rd quarter back to Veritone's previous assumptions. And Amazon did pick up in the third quarter, and Pando revs went from 8.9M in 2nd quarter to 17M in 3rd quarter. But aiWare revenues went from 9.5M in 2nd qtr to 3.8M in third quarter. So the bottom fell out of aiWare revenues, but Veritone likes to bury that fact, and instead blame it on Amazon. And earlier in the year they said expect aiWare to accelerate in the back half of year.

Now they even go lower on full year guidance and still blame it on Amazon. I think when they first gave guidance for 2022, yes, it was before Amazon cut hiring, but seems clear that they had a lot higher hopes for aiWare. 3rd quarter was miserable for those counting on aiWare growth. AI thrives in good times and bad. Careful to say "AI" instead of aiWare.

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