Veritone raises Q4 revenue view to $10.7M-$10.9M from $9.3M-$9.7M
Consensus $9.49M. CEO Chad Steelberg says: "After achieving record revenues in the third quarter, we experienced very strong demand for our aiWARE operating system and applications, our digital content licensing services and Veritone One's advertising services in the fourth quarter. As a result, based on a preliminary review of our results, we are raising our guidance regarding our expected net revenues for the fourth quarter of 2018. We expect this increase to result in a sequential decrease in our Adjusted EBITDAS loss as a percentage of net revenues. While the fourth quarter of 2018 was a tough time for many in the capital markets and certainly for Veritone's stockholders, we are very pleased with our execution and expected results in the quarter, and we believe that Veritone is in a better position today, with stronger growth prospects in the near-term, than at any time in our history. As we enter 2019, we are more excited than we have ever been regarding Veritone and our prospects. We are beginning to see significant increases in both revenue and the adoption of our aiWARE operating system by customers resulting from the investments we have made over the past two years in internal technology development, the integration of our acquired businesses and the AI enablement of their products. This is driving a pipeline of new products and customer opportunities that we expect to accelerate our revenue growth in 2019 and beyond."