Veritone, Inc. (NASDAQ: VERI) reported Q1 EPS of ($0.81), $0.02 worse than the analyst estimate of ($0.79). Revenue for the quarter came in at $4.4 million versus the consensus estimate of $3.98 million.

“Q1 was a great quarter for Veritone as we experienced an inflection point in our AI platform business,” said Veritone Chairman and CEO Chad Steelberg. “Our 506% year-over-year revenuegrowth in this business reflects the success we are beginning to achieve with our ‘land and expand’ strategy of making it easy and cost effective for customers to deploy AI to enable 1x and 2x solutions to their immediate business needs, and then increasing our business with them as they realize the power of our platform and create additional use cases. Today, aiWARE is extending the user’s cognitive capabilities while leveraging the insights only humans can provide. Over time, we expect to be able to enable our users and partners to deliver 10x solutions that can perform a greater range of human cognitive functions, which will fundamentally transform the way these organizations operate.”

cond Quarter 2018 Key Performance Indicators (KPIs) Outlook

For the second quarter ending June 30, 2018, Veritone expects to achieve the following KPIs for its aiWARE platform:

• Add 15 customers;
• Add 30 accounts;
• Add 20 active third-party cognitive engines; and
• Process 3.5 million total hours of video and audio content during the quarter.

For earnings history and earnings-related data on Veritone, Inc. (VERI) click here.