Veritone Earnings Reports

Veritone posted Q4 2024 revenue of $22.4 million, a 17% decline year-over-year, primarily due to lower consumption in its AI software segment. However, the company reported a net income of $31.8 million, benefiting from a gain on discontinued operations. Operating loss remained flat at $19.7 million, reflecting ongoing efficiency measures. Annual recurring revenue declined to $58.8 million, down 27% year-over-year.

Veritone reported Q3 2024 revenue of $22.0 million, a 21% decrease compared to Q3 2023. The company completed the divestiture of its media agency in October 2024, focusing on becoming a pure-play enterprise AI company. They announced fiscal 2025 business outlook with up to 30% year over year forecasted revenue growth and over 45% forecasted improvement in Non-GAAP Net Loss as compared to fiscal 2024 guidance led by over $100 million in sales pipeline at Q3 2024

Veritone reported Q2 2024 revenue of $31.0 million, aligning with guidance, and experienced significant year-over-year improvements in operating loss and non-GAAP net loss. The company secured 17 new Public Sector customers, achieved a record Public Sector sales pipeline exceeding $100 million, and finalized its largest contract to date with the NCAA.

Veritone reported Q1 2024 revenue of $31.6 million, exceeding the high end of its guidance range. The company focused on restructuring efforts, which are expected to yield over $13.0 million in annualized savings and accelerate non-GAAP net income as early as Q4 2024. ARR reached $72.1 million.

Veritone's Q4 2023 results showed a decrease in revenue and software revenue compared to Q4 2022. However, net income increased due to gains from repurchases of convertible notes. The company is focusing on cost reductions and expects profitability to accelerate in the second half of 2024.

Veritone reported Q3 2023 revenue of $35.1 million, a 6% decrease year-over-year, and a net loss of $20.9 million, compared to a net loss of $4.9 million in Q3 2022. The company highlighted progress in strategic initiatives, partnerships, and over $24 million in annualized cost savings year-to-date.

Veritone's Q2 2023 results showed a decrease in GAAP and Pro forma revenues compared to Q2 2022, primarily due to a decline in one-time nonrecurring Software Products & Services revenue. However, the company completed the acquisition of Broadbean and executed cost reduction initiatives, achieving significant annualized savings.

Veritone's Q1 2023 revenue was $30.3 million, a 12% decrease compared to Q1 2022. The company grew ending software customers by 19% year-over-year to 667 and increased total new bookings by 57% to $15.0 million. The company is executing against strategic plan to improve operating structure.

Veritone reported Q4 2022 results, showing a revenue of $43.9 million, a net income of $5.0 million, and record new bookings of $20.0 million, up 141% year over year. The company retired $60 million of debt in exchange for $39 million cash.

Veritone reported a strong third quarter with a 64% increase in revenue year-over-year, driven by growth in Software Products & Services and Managed Services. The company also saw a significant increase in new bookings and software customers.

Veritone reported a 78% year-over-year increase in revenue, reaching $34.2 million. The company also saw a 42% pro forma increase in customer count and record new bookings of $14.6 million, up 197% year-over-year. Despite the growth, Veritone experienced a GAAP net loss of $3.2 million and a non-GAAP net loss of $7.2 million.

Veritone's Q1 2022 results showed strong growth, with GAAP revenue up 88% and Pro Forma revenue up 45%. The company's new bookings increased by 292%, and it held $237.6 million in cash and cash equivalents.

Veritone reported record revenue of $22.7 million, a 44% increase year-over-year, driven by Software Products & Services growth and the acquisition of PandoLogic. The company's GAAP net loss was $11.4 million, while non-GAAP net loss improved to $2.3 million. Veritone raised its full-year 2021 guidance, expecting revenue to be in the range of $103.0 million to $105.5 million.

Veritone reported a record revenue of $19.2 million in Q2 2021, up 45% year over year, driven by strong growth in aiWARE SaaS Solutions and Advertising. The company's GAAP net loss was $12.7 million, while non-GAAP net loss improved to $3.9 million. Veritone also raised its full year 2021 guidance, increasing midpoints in revenue from $81 million to $100 million and in Non-GAAP Net Loss from $15.5 million to $7.0 Million.

Veritone reported record revenue of $18.3 million for Q1 2021, a 54% increase year-over-year. The growth was driven by strong contributions from aiWARE SaaS Solutions and Advertising. GAAP net loss was $30.6 million, while non-GAAP net loss improved to $3.9 million.

Veritone reported record Q4 revenue of $16.8 million, a 35% increase year-over-year, with aiWARE SaaS Solutions and Advertising revenues growing significantly. The company improved its GAAP net loss by 17% and non-GAAP net loss by 51% year-over-year. They also recorded Non-GAAP Net Income from Core Operations of $1.1 Million.

Veritone reported record revenue of $15.7 million for Q3 2020, with significant contributions from Advertising and aiWARE SaaS Solutions. GAAP net loss was $11.0 million and non-GAAP net loss was $4.3 million, improving compared to Q3 2019.

Veritone reported Q2 2020 net revenues of $13.3 million, up 8.1% year-over-year. The company saw significant rebounds in its Advertising and Content Licensing businesses. They are forecasting an even better performance in the third quarter.

Veritone reported a decrease in net revenues to $11.9 million, a 1.8% decrease compared to Q1 2019. However, aiWARE SaaS net revenues increased by 13% year-over-year, and the company managed to improve its loss from operations and net loss compared to the previous year.

Veritone reported a 14% increase in net revenues to $12.4 million for Q4 2019, driven by record revenues in aiWARE SaaS and Advertising. The business realignment implemented in November is yielding streamlined product development and improved customer engagement.