VERITONE Reports 131.7% Revenue Increase in Q4 FY2022, But Net Income Down 20.4%.

Earnings report

On December 31, 2022, VERITONE ($NASDAQ:VERI) released its fiscal year 2022 fourth quarter earnings report, which showed a tremendous revenue gain with a 131.7% increase compared to the same period of the previous year. The total revenue for the quarter was USD 5.0 million, an impressive/notable milestone for the company. Despite the impressive revenue gain, however, VERITONE reported a drastic 20.4% decrease in net income for the quarter. The net income for the 4th quarter of FY2022 was at USD 43.9 million, a sharp contrast from the same period during the previous year.

As a result, it is clear that VERITONE’s profits are down significantly despite the considerable increase in overall revenue. This earnings report has not yet been met with any significant reaction from investors or the stock market, waiting to see how these quarterly figures will affect the company’s long-term sustainability. With the current dip in profits, it remains to be seen what strategies VERITONE will choose to ensure profitability in the future.

Stock Price

On Thursday, VERITONE released it’s Q4 FY2022 financial report, revealing a 131.7% increase in revenue from the previous quarter. However, despite the impressive sales performance, net income decreased by 20.4% compared to the same quarter of the previous year. In response to this news, the stock opened at $6.3 and closed at $6.4, down by 1.2% from its previous closing price of 6.4. Investors remain cautiously optimistic as they await more information on VERITONE’s future prospects. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Veritone. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Veritone. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Veritone. More…

Key Ratios Snapshot

Some of the financial key ratios for Veritone are shown below. More…

Analysis

GoodWhale conducted an analysis of VERITONE‘s wellbeing and found that the company is classified as a ‘cheetah’ based on its Star Chart. This type of company achieves high revenue or earnings growth, but is considered less stable due to lower profitability. VERITONE has an intermediate health score of 4/10 with regard to its cashflows and debt, meaning that it is likely to safely ride out any crisis without the risk of bankruptcy. In terms of other metrics, it is strong in growth, medium in asset and weak in dividend, profitability. As a result of the Star Chart analysis, it is likely that investors with a riskier appetite will be interested in investing in VERITONE. These potential investors may have a higher tolerance for risk, such as venture capital firms, hedge funds, and angel investors. They may be more willing to take on the potential risks associated with VERITONE due to the potential high returns associated with the company. More…

Peers

In the field of artificial intelligence and cognitive analytics, Veritone Inc faces stiff competition from the likes of Informatica Inc, ZeroFox Holdings Inc, and IXUP Ltd. These companies are all leaders in their respective fields, and each has its own unique strengths and weaknesses. While Veritone Inc has the advantage of experience and a strong track record, its competitors are constantly innovating and seeking to improve upon their own offerings. As such, it is important for Veritone Inc to stay abreast of the latest developments in the industry in order to maintain its competitive edge.

– Informatica Inc ($NYSE:INFA)

Informatica Inc is a publicly traded company with a market capitalization of 5.22 billion as of 2022. The company has a return on equity of 0.39%. Informatica Inc is a provider of data integration software and services. The company’s products are used by organizations to move, transform and manage data. Informatica’s software is used by over 5,000 customers worldwide, including many of the world’s largest companies.

– ZeroFox Holdings Inc ($NASDAQ:ZFOX)

Zynga Inc is an American social game developer running social video game services founded in April 2007 and headquartered in San Francisco, California, United States. The company primarily focuses on developing and publishing social games that are played on mobile platforms such as Android and iOS, as well as on social networking websites such as Facebook. Zynga Inc has a market cap of 498.71M as of 2022, a Return on Equity of 366.87%. The company’s games are available on a number of global platforms, including Apple’s App Store, Google’s Android Market, and Facebook. Zynga’s games have been played by over one billion people around the world. The company was founded in 2007 by Mark Pincus, Eric Schiermeyer, Justin Waldron, Michael Luxton, and Andrew Trader.

– IXUP Ltd ($ASX:IXU)

Pixup Ltd is a media company that operates in the entertainment industry. The company has a market cap of 53.93M as of 2022 and a ROE of -37.67%. The company’s primary business is the production and distribution of films and television programs.

Summary

Veritone Inc. announced impressive revenue results for the quarter, posting USD 5.0 million, representing a 131.7% year-over-year increase. Despite this significant growth, net income for the quarter was USD 43.9 million, a 20.4% decrease compared to the same period in the previous year. This information may be of particular interest to investors looking to gain insight into the financial health of the company. However, it is important to remember that these figures do not capture the whole picture and more research is necessary to determine Veritone’s overall performance and future outlook.