Veritone, Inc. is set to join the Russell 2000 and Russell 3000 Indexes following the June 2026 Russell Reconstitution, according to a preliminary list of additions posted by FTSE Russell on May 22, 2026. The inclusion will become effective after the U.S. market close on June 26, 2026. This development is expected to enhance Veritone's visibility with institutional investors and broaden exposure to its AI platform commercialization efforts.

Ryan Steelberg, President and Chief Executive Officer of Veritone, stated that inclusion in these widely followed indexes will support the company's operational efficiency and scalable AI innovation. The June reconstitution captures up to the 4,000 largest U.S. stocks as of April 30, ranked by total market capitalization.

Membership in the Russell 3000 Index, which remains in place for six months under the semi-annual reconstitution schedule beginning in 2026, ensures automatic inclusion in either the large-cap Russell 1000 Index or the small-cap Russell 2000 Index. FTSE Russell determines membership primarily through objective, market-capitalization rankings and style attributes.

Key Details

Veritone provides enterprise artificial intelligence solutions, serving organizations in commercial and regulated sectors. Its aiWARE platform orchestrates machine learning models to transform data into actionable intelligence. FTSE Russell, a global index leader and an LSEG business, calculates thousands of indexes covering 98% of the investable market globally, with approximately $21.20 trillion benchmarked to its indexes.

Veritone plans to reduce its workforce by approximately 25% and lower operating expenses by 30%. The company disclosed these restructuring measures in a recent regulatory filing, aiming to streamline operations and improve financial efficiency.

The decision to cut jobs and reduce expenses comes as part of a broader strategic initiative. Veritone's management has not yet specified the exact timeline for these reductions or the departments that will be most affected. The filing indicates that these moves are intended to align the company's cost structure with its current operational needs.

Restructuring Details

The primary components of the restructuring plan include significant headcount reductions and a targeted decrease in operating expenses. The company expects these measures to result in substantial cost savings over time.

Veritone stated that it will continue to evaluate its business operations and may take additional actions as necessary. The company emphasized that these steps are being taken to ensure long-term sustainability and growth.