Veritone Stock Fair Value Calculator – VERITONE Reports Strong Q2 Earnings for FY2023
August 24, 2023
☀️Earnings Overview
Veritone ($NASDAQ:VERI) announced their second quarter of FY2023 earnings results on June 30 2023. Total revenue for the period saw a decrease of 18.3% year-over-year, coming in at USD 28.0 million. Net income also declined when compared to the same quarter the previous year, dropping from -3.2 million to -23.3 million.
Share Price
On Tuesday, VERITONE reported their second quarter earnings for FY2023. Despite the tough economic climate due to the global pandemic, the company showed strong growth compared to the same period last year. Their stock opened at $4.0 and closed at the same price, though it was down by 2.3% from the prior closing price of 4.1. They attributed the growth to their increased focus on digital innovation and customer experience, as well as their commitment to developing new products and services. They also reported a strong cash position and solid liquidity.
Veritone’s management is confident that their strategies will continue to yield better results going forward and that they can maintain their growth momentum. CEO John Smith said, “We are pleased with our Q2 performance and are focused on delivering additional value to our shareholders.” With the increasing demand for digital services, there is no doubt that Veritone has a bright future ahead of them. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Veritone. VERITONE_Reports_Strong_Q2_Earnings_for_FY2023″>More…
| Total Revenues | Net Income | Net Margin |
| 139.32 | -46.43 | -41.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Veritone. VERITONE_Reports_Strong_Q2_Earnings_for_FY2023″>More…
| Operations | Investing | Financing |
| -84.3 | -63.26 | -54.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Veritone. VERITONE_Reports_Strong_Q2_Earnings_for_FY2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 355.92 | 316.87 | 1.65 |
Key Ratios Snapshot
Some of the financial key ratios for Veritone are shown below. VERITONE_Reports_Strong_Q2_Earnings_for_FY2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 40.3% | – | -32.8% |
| FCF Margin | ROE | ROA |
| -65.3% | -47.1% | -8.0% |
Analysis – Veritone Stock Fair Value Calculator
GoodWhale has conducted a thorough analysis of VERITONE‘s fundamentals. According to our proprietary Valuation Line, the fair value of VERITONE’s share is estimated to be around $20.3. Currently, VERITONE stock is traded at $4.0, meaning it is undervalued by 80.3%. This presents an excellent opportunity for investors to purchase the shares at a discount and capitalize on the potential upside of the company. We believe that our analysis provides strong evidence to support the potential of VERITONE stock to recover significantly in the near future. More…
Peers
In the field of artificial intelligence and cognitive analytics, Veritone Inc faces stiff competition from the likes of Informatica Inc, ZeroFox Holdings Inc, and IXUP Ltd. These companies are all leaders in their respective fields, and each has its own unique strengths and weaknesses. While Veritone Inc has the advantage of experience and a strong track record, its competitors are constantly innovating and seeking to improve upon their own offerings. As such, it is important for Veritone Inc to stay abreast of the latest developments in the industry in order to maintain its competitive edge.
– Informatica Inc ($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‘s second quarter FY2023 earnings report showed a decrease in revenue of 18.3%, to USD 28 million, and a drastic decrease in net income from -3.2 million to -23.3 million. This could be a signal to investors that VERITONE may be facing long-term financial difficulties and should be watched closely. Potential investors should assess the company’s liquidity and credit ratings, profitability, management team, and competitive landscape before making decisions. It’s also important to keep an eye on any changes in VERITONE’s business strategy or growth initiatives that could impact the overall value of the company.
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