Veritone Q3 2020 Earnings Report
Key Takeaways
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.
Record Revenue of $15.7 Million, Up 18% Sequentially and 23% Year over Year
Grew aiWARE SaaS Solutions Revenue to $3.4 Million, Up 43% Year over Year
Recognized Revenue of $0.4 Million and Bookings of Over $1.0 Million from New Veritone Energy Solutions
Increased Gross Profit to $11.2 Million, Up 30% Year over Year
Veritone
Veritone
Forward Guidance
Veritone expects revenue to be in the range of $16.0 million to $16.4 million, representing a 30% increase year over year at the midpoint. Non-GAAP net loss is expected to be in the range of $4.5 million to $4.0 million, representing a 47% improvement year over year at the midpoint.
Positive Outlook
- Revenue is expected to be in the range of $16.0 million to $16.4 million
- Revenue is expected to increase 30% year over year at the midpoint
- Non-GAAP net loss is expected to be in the range of $4.5 million to $4.0 million
- Non-GAAP net loss is expected to improve 47% year over year at the midpoint