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.
Total revenue declined 17% to $22.4 million due to lower AI software consumption.
Net income of $31.8 million, driven by a one-time gain from discontinued operations.
Annual recurring revenue dropped 27% to $58.8 million.
Operating loss remained flat at $19.7 million as cost reductions offset revenue decline.
Veritone anticipates revenue stabilization in 2025, with growth in public sector contracts and AI solutions.
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