Strong sales growth, along with a 52-week return of more than 550%, earned Veritone a spot on the Forbes ranking
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.
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“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”
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.
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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.”
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