Veritone Q3 2022 Earnings Report
Key Takeaways
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.
Revenue increased 64% year-over-year to $37.2 million.
Software Products & Services Revenue increased 131% year-over-year to $20.8 million.
Managed Services Revenue increased 20% to $16.4 million.
Ending Software Customers increased 43% year-over-year to 618.
Veritone
Veritone
Forward Guidance
Veritone expects revenue to be in the range of $44 million to $46 million for the fourth quarter of 2022 and non-GAAP net income to be in the range of $3.0 million to $4.0 million. For the full year 2022, revenue is expected to be in the range of $150 million to $152 million and non-GAAP net loss is expected to be in the range of $14 million to $15 million.
Challenges Ahead
- Revenue is expected to be in the range of $44 million to $46 million, as compared to $55.1 million in the fourth quarter of 2021.
- Non-GAAP net income is expected to be in the range of $3.0 million to $4.0 million, compared to $17.0 million in the fourth quarter of 2021.
- Revenue is expected to be in the range of $150 million to $152 million, as compared to $115.3 million in 2021.
- Non-GAAP net loss is expected to be in the range of $14 million to $15 million, as compared to non-GAAP net income of $6.8 million in 2021.
- These updated financial targets supersede any previously disclosed financial targets and investors should not rely on any previously disclosed financial targets.