Veritone Streamlines Operations with Subsidiary Sale

Veritone ( (VERI) ) just unveiled an update.

Veritone, Inc. has sold its subsidiary, Veritone One, LLC, to Oxford Buyer, LLC for up to $104 million, with an initial cash receipt of $59.1 million and potential earnout based on 2025 revenue targets. This strategic divestiture aims to streamline Veritone’s operations and focus on core innovations. Financial highlights reveal Veritone’s ongoing challenges, with a reported net loss but a promising outlook due to the divestiture proceeds and potential future earnings.

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