Veritone Sees Q2 Revenue $31M-$32M Vs $29.9M Est.; FY24 Revenue $136M-$142M Vs $134.1M Est.
Portfolio Pulse from Benzinga Newsdesk
Veritone provided an updated financial guidance, expecting Q2 revenue between $31M-$32M, surpassing the $29.9M estimate, and FY24 revenue between $136M-$142M, exceeding the $134.1M estimate. The company anticipates a significant reduction in non-GAAP net loss for both Q2 and FY24 compared to the previous year.
May 07, 2024 | 10:17 pm
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POSITIVE IMPACT
Veritone's updated financial guidance indicates higher than expected Q2 and FY24 revenues and a substantial reduction in non-GAAP net losses, signaling strong financial health and operational efficiency.
The positive revenue forecast and reduced losses compared to previous periods suggest operational improvements and potential market growth. This could lead to increased investor confidence and a positive short-term impact on Veritone's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100