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Dec 31, 2022
Veritone Q4 2022 Earnings Report
Veritone's Q4 2022 earnings were reported, with record new bookings and strategic progress made.
Key Takeaways
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.
Q4 new bookings reached a record of $20 million, up 141% year over year.
Customer count grew 21% year over year to 642.
Gross Revenue Retention remained strong in the high 90th percentiles.
The company retired $60 million of debt in exchange for $39 million cash.
Veritone
Veritone
Forward Guidance
Veritone provided financial outlook for Q1 2023 and full year 2023.
Positive Outlook
- Revenue is expected to be in the range of $29.5 million to $30.5 million for Q1 2023.
- Non-GAAP net loss is expected to be in the range of $8.5 million to $9.5 million for Q1 2023.
- Revenue is expected to be in the range of $158 million to $168 million for full year 2023.
- Non-GAAP net loss is expected to be in the range of $7.0 million to $1.0 million for full year 2023.
Challenges Ahead
- Revenue is expected to be in the range of $29.5 million to $30.5 million for Q1 2023, as compared to $34.4 million in the first quarter of 2022.
- Non-GAAP net loss is expected to be in the range of $8.5 million to $9.5 million for Q1 2023, compared to $5.2 million in the first quarter of 2022.