Veritone’s Total Number of Accounts on Platform (2017-2021)

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This statistic highlights Veritone’s Total Number of Accounts on Platform, reported quarterly since 2017.
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This statistic highlights Veritone’s Total Number of Accounts on Platform, reported quarterly since 2017.

Veritone’s Total Number of Accounts on Platform

Category Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021
Total accounts on platform 1,587.0 1,753.0 1,791.0 1,896.0 1,777.0 1,820.0

(All figures are in absolute numbers)

Veritone’s total number of accounts on the platform has increased exponentially between Q1 2017 when there were 57 accounts and Q2 2021 when there are 1,820 accounts on the platform, marking an overall growth of 3093%.

In the year 2020, the general trend of number of accounts on the platform has been on the rise. The total number of accounts on the platform increased from 1,587 in Q1 2020 to 1,753 in Q2 2020, resulting in a rise of 10.4%. The growth rate stood at 2.6% between Q2 2020 and Q3 2020, when it increased from 1,753 accounts to 1,791 accounts. The number of accounts again increased from 1,791 in Q3 2020 to 1,896 in Q4 2020, making a growth of 5.86%.

However, the total number of accounts fell between Q4 2020 and Q1 2021, when they decreased from 1,896 in Q4 2020 to 1,777 in Q1 2021, resulting in a decline of 7%. The total number of accounts in Q2 2021 stood at 1,820. On a quarterly basis, the number of accounts increased from 1,777 accounts in Q1 2021 to 1,820 in Q2 2021, making an increment of 2.4%. On a year-on-year basis, the figure increased by 3.8%, from 1,753 accounts in Q2 2020 to 1,820 accounts in Q2 2021.

Veritone’s business operations, financial condition and cash flows are highly affected due to the pandemic. The assumptions on which it bases its financial projections were inaccurate as a result of the unpredictability of the impact that the COVID-19 pandemic could have on its business, its customers’ businesses, and the global markets and economy, its forecasted revenue, operating results, and cash flows could differ materially from those they provide as guidance or from those anticipated by investors and analysts. Customers whose companies have been impacted by the COVID-19 epidemic have experienced, and some continue to experience, concentrated demand for a few of its products and services. For example, commencing in March 2020, the company saw swings in demand for its aiWARE content licensing and media services as a result of key live sporting events in the United States being canceled or postponed owing to COVID-19. While many major sporting events have resumed, additional live sporting event cancellations can have a substantial negative impact on its income from aiWARE content licensing and media services in future quarters.

Furthermore, certain customers have experienced and may continue to experience delays in making purchase decisions for its products and services as a result of the COVID-19 pandemic’s impact on their businesses, plus changes in priorities and budget apportionments, resulting in longer sales cycles and sales loss. A few of its customers delayed or failed to pay the company under the terms of its agreements as a consequence of the COVID-19 pandemic’s impact on their operations. As a result of continuing office closures and the dangers connected with the workers working remotely, its operations got disrupted. It had temporarily shuttered its offices and implemented a work-from-home policy to comply with government regulations, which affected its employees’ effectiveness and productivity. A rise in cyber events during the COVID-19 pandemic, as well as its greater reliance on a remote workforce, might put the company at risk of cyber breaches and assaults.

About Veritone Inc

Veritone Inc was founded in 2014 by Chad and Ryan Steelberg. It is a provider of artificial intelligence (AI) computer solutions. It is motivated by the notion that artificial intelligence (AI) is critical to the development of a safer, more vibrant, transparent and empowered society. Its ultimate motive is to use artificial intelligence to make the world a better place. Through acquisitions of related firms and technologies, it has extended and strengthened its aiWARE SaaS products and services. Wazee Digital Inc.(Wazee Digital), which the company acquired in 2018, brought digital asset management and digital content licensing services to its portfolio. It has combined the cognitive powers of aiWARE with these Wazee Digital products and services, allowing it to offer its customers new possibilities for monetizing and enriching their content more effectively. Veritone Inc’s shares go by the name ‘VERI’ and are listed on the NASDAQ stock exchange.

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