COSTA MESA, Calif.--(BUSINESS WIRE)--Veritone, Inc. (Nasdaq: VERI), the creator of the world’s first operating system for artificial intelligence, aiWARE™, today announced it has been named to the Forbes 2021 list of America’s Best Small-Cap Companies.
Veritone earned its spot among Forbes’ list of the top 100 high-performing small-cap companies due to its more than 550% 52-week return through November 25, 2020 and its year-over-year revenue growth for the twelve-month period ended September 30, 2020. The company's sales growth was bolstered by its year-over-year SaaS revenue growth of over 40% in its third quarter.
“Veritone’s growth accelerated as 2020 progressed, and by all indications, that acceleration is continuing into 2021, substantiated by expanded use cases of aiWARE into new verticals, including Energy,” said ROTH Capital Partners Managing Director, Senior Research Analyst Darren Aftahi, who covers Veritone.
Forbes evaluated companies with a market value between $300 million and $2 billion, with positive sales growth over a 12-month period and a share price of at least $5. Forbes ranked the top 100 companies based on earnings and sales growth for the latest 12 months and over five years, one- and five-year returns on equity, and 52-week total return, with greater weight given to the latest 12-month and one-year data.
The Forbes ranking follows a year of significant growth for Veritone and its stock.
In June 2020, Veritone was added as a member of the small-cap Russell 2000® Index and broad-market Russell 3000® Index, as part of the 2020 reconstitution of the Russell indexes. Veritone’s stock was also added to the corresponding Russell growth and value indexes.
The Russell 2000 outperformed the S&P 500 in 2020, and Veritone’s stock was a top performer with 1043% growth for the full year of 2020.
“We’re proud to be growing as a company while advancing our mission to build a safer, more vibrant, transparent and empowered society with AI,” said Chad Steelberg, CEO of Veritone. “From growing our presence in the media and entertainment and government, legal and compliance markets, to launching Veritone Energy, 2020 was a banner year for Veritone and we have even bigger things planned for 2021.”
To learn more about Veritone, visit veritone.com.
About Veritone
Veritone (NASDAQ: VERI) is a leading provider of artificial intelligence (AI) technology and solutions. The company’s proprietary operating system, aiWARE™, powers a diverse set of AI applications and intelligent process automation solutions that are transforming both commercial and government organizations. aiWARE orchestrates an expanding ecosystem of machine learning models to transform audio, video, and other data sources into actionable intelligence. The company’s AI developer tools enable its customers and partners to easily develop and deploy custom applications that leverage the power of AI to dramatically improve operational efficiency and unlock untapped opportunities. Veritone is headquartered in Costa Mesa, California, and has offices in Denver, London, New York and San Diego. To learn more, visit Veritone.com.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding the company’s acceleration of growth in 2021 and its plans for 2021. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control of Veritone. Certain of such judgments and risks are discussed in Veritone’s SEC filings. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.