Veritone(US:VERI)2023-03-13 13:33Financial Performance - FY 2022 revenue reached $163 million, a 30% year-over-year growth[5,16] - Software Product & Services grew by 42% year-over-year in FY 2022[5] - The company has $184 million in cash and cash equivalents[5,19] - Total new bookings increased by 141% year-over-year[5] - Gross Revenue Retention is over 90%[5,16] Customer Base - The company has 642 ending software customers[5,16] Market Opportunity - The global AI market is expected to reach $900 billion by 2026, with a 19% compound annual growth rate (CAGR)[8] - The global enterprise AI/ML market is forecasted to reach $110 billion by 2030, with a 36% CAGR[8] - Global corporate investment in AI increased by 48% year-over-year to $176 billion in 2021[8] Product and Platform - Veritone's aiWARE platform orchestrates machine learning models to transform unstructured data into actionable intelligence[4] - AI/ML was the top spending priority in 2023 in emerging software[8]