Now after the layoffs from Q1 which give the company more breathing room, and with projected profitability (Non-GAAP) starting from Q4 this year. I feel like the share price should atleast start to reflect that. At the moment Veritone does have a marketcap below 100 million while they had a total revenue of 127 million last year (2023) so currently Veritone has a PS ratio below 1 which is crazy for an AI company during the current hype around AI and tech companies as a whole. Ontop of that Michael L. Zemetra (The CFO) just bought another 30k shares (as seen in the SEC filing listed below). Which means that he aswell thinks that the company will be able to uphold on their promise of profitability in Q4.
There are risks though, at the moment Veritone is not profitable and has a pretty big ammount of debt so that is something where we will still need to be cautious about. Which is the reason why in my opinion the share is not worth 10 USD or anything crazy high like that yet.
Thank you for your time, and for reading my rant as to why veritone is in my opinion undervalued at its current price. (2,5 USD at the time of writing)
SEC filing: https://www.sec.gov/Archives/edgar/data/1615165/000141588924016029/xslF345X05/form4-06072024_050605.xml
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