UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to ____________________ Commission File Number: 001-38093 Veritone, Inc. (Exact name of registrant as specified in its charter) Delaware 4 ...

Core Insights - C3.ai, Inc. closed fiscal 2025 with strong momentum, positioning its Generative AI and agentic AI platforms as central growth drivers for fiscal 2026 [1] - The company reported fiscal fourth-quarter revenues of $108.7 million, up 26% year over year, exceeding estimates, with subscription and prioritized engineering services comprising 96% of total sales [1][10] Revenue Growth - Generative AI revenue more than doubled in fiscal 2025, driven by 66 initial production deployments across 16 industries, including significant contracts with Bristol-Myers Squibb, Dow, the U.S. Navy, and the USC Shoah Foundation [2] - The deployment with the USC Shoah Foundation is expected to save over $33 million and reduce archival processing time by a decade, highlighting the business and societal value of C3.ai's solutions [2] Market Strategy - C3.ai's partner-driven go-to-market approach, supported by alliances with Microsoft, AWS, Google Cloud, and collaborations with PwC and McKinsey QuantumBlack, enhances distribution and adoption [3] - Federal contracts, such as the expanded $450 million U.S. Air Force PANDA program, contribute to a recurring, high-credibility revenue stream [3] Future Projections - With 95% of fiscal 2025 bookings tied to AI applications and over 130 turnkey enterprise AI solutions deployed, C3.ai differentiates itself from infrastructure and model providers [4] - Management projects fiscal 2026 revenues of $447.5 million to $484.5 million, with free cash flow expected to turn positive by the fourth quarter of fiscal 2026 [4] Competitive Landscape - C3.ai faces competition from Palantir Technologies and Veritone, both targeting leadership in AI-driven enterprise solutions [6] - Palantir has established a strong presence in government and defense sectors, while Veritone focuses on AI-powered media, legal, and energy applications [6][7] Stock Performance - C3.ai shares have lost 3% in the past three months but have outperformed the Zacks Computers - IT Services industry [8] - The stock is currently trading at a discount compared to industry peers, with a forward 12-month price-to-sales (P/S) ratio of 6.15 [11] Earnings Estimates - The consensus estimate for fiscal 2026 and 2027 sales implies growth of 20.1% and 21.8%, respectively, with an expected improvement in the bottom line from a year-ago loss of 41 cents per share [12]

Veritone, Inc. (VERI) came out with a quarterly loss of $0.18 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to a loss of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +5.26%. A quarter ago, it was expected that this company would post a loss of $0.18 per share when it actually produced a loss of $0.24, delivering a surprise of -33.33%.Over the last four quarters, the company has surpas ...

Veritone (VERI) Q2 2025 Earnings Call August 07, 2025 05:00 PM ET Speaker0Good day, and welcome to the Veritone Inc. Second Quarter twenty twenty five Financial Results Conference Call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.I would now like to turn the conference over to Kate Goldsmith. Please go ahead.Speaker1Thank you and good afternoon. After the market closed today, Veritone issued ...

Investor Presentation August 2025 Before you invest, you should read our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, Quarterly Reports on Form 10-Q and the other documents we have filed and may in the future file with the SEC for more complete information about the Company. You may obtain these documents for free on our website or by visiting EDGAR on the SEC website at www.sec.gov. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any ...

– Q2 Total Revenue of $24.0 Million, achieving the top end of updated guidance – – Software Products & Services revenue grew 12% year over year. Excluding Veritone Hire 1 , Software Products & Services grew over 45% – – Veritone Data Refinery exited the quarter with a qualified and near-term pipeline of over $20.0 Million, up 33% from June 2025 estimates and up 100% from Q1 2025 – – Awarded Sole Source Contract with the United States Air Force, deploying and launching aiWARE & iDEMS across portions of the D ...

Core Insights - The article discusses the emerging niche of artificial intelligence analytics, highlighting BigBear.ai (BBAI) and Veritone (VERI) as notable small-cap players in this sector [1][2]. Company Overview - BigBear.ai focuses on "decision intelligence" for government and defense clients, specializing in mission-critical AI applications for national security and defense [2]. - Veritone provides an enterprise AI platform (aiWARE) targeting media, public sector, and commercial markets, with a suite of audio/video data analytics tools [2]. Market Position and Strategy - BigBear.ai has a backlog of $385 million as of March 31, 2025, with significant government contracts, including a $165 million contract from the U.S. Army [4][8]. - Veritone has shifted its focus solely to AI software, achieving an Annual Recurring Revenue (ARR) of $58.7 million, with 81% from subscriptions [9][10]. Financial Performance - BigBear.ai eliminated $57.7 million of long-term debt and raised $64.7 million in gross proceeds, strengthening its balance sheet [6][8]. - Veritone's revenue declined by 7% year-over-year to $22.5 million, but it has a higher gross margin of 61.1%, significantly above BigBear.ai's 21.3% [9][10]. Growth Prospects - BigBear.ai is positioned for growth in defense AI, leveraging its backlog and government contracts [4][8]. - Veritone's growth strategy includes vertical-specific AI solutions and expanding into government applications, indicating a competitive edge in software sales [10][12]. Stock Performance - BigBear.ai's stock has increased by nearly 382% over the past year, while Veritone's shares have recently rebounded, rising 111.1% in the past month [14][15]. - Over the past three months, BigBear.ai shares rose by 153.3%, outperforming the broader market, while Veritone gained 25.9% [15]. Valuation Comparison - BigBear.ai trades at a forward Price-to-Sales (P/S) ratio of 12.02, significantly higher than Veritone's 1.13, indicating a premium valuation for BigBear.ai [18][19]. - Veritone's expected revenue growth of 18% in 2025 and narrowing losses suggest a more attractive valuation and clearer path to profitability [19][26].

Core Viewpoint - The artificial intelligence sector, particularly voice AI technologies, is attracting investor attention, with SoundHound AI Inc. and Veritone Inc. being notable players in this space [1][3][7] Group 1: SoundHound AI Inc. (SOUN) - SoundHound AI has reported a significant revenue increase of 151% year-over-year, reaching $29.1 million in Q1 2025, driven by partnerships and acquisitions [3][4] - Recent acquisitions, including SYNQ3 and Amelia, are expected to add $45 million in recurring revenue in 2025, with a forecast of over $150 million in total revenue for the year [4][5] - The company has a strong financial position with $246 million in cash and no debt, providing a solid foundation for growth and R&D [5] - Despite its growth, SoundHound remains unprofitable, posting an adjusted loss of $0.06 per share in Q1 2025, and faces competition from major players like Amazon and Apple [6] Group 2: Veritone Inc. (VERI) - Veritone is undergoing a turnaround, focusing on enterprise AI software, with a revenue of $22.5 million in Q1 2025, down 7% year-over-year [7][8] - The divestiture of its media services division provided $59.1 million in cash and allowed Veritone to concentrate on its software products, resulting in a stable SaaS customer base with an ARR of $58.7 million [8][9] - Veritone's gross margin was approximately 61.1% GAAP in Q1 2025, indicating potential profitability if scale is achieved [9] - The company is focusing on vertical-specific AI solutions and has seen a 22% increase in new bookings year-over-year, suggesting a path toward recovery [10] Group 3: Stock Performance and Valuation - Both SoundHound and Veritone have experienced significant stock declines year-to-date, with SoundHound down 43.9% and Veritone down 47.6% [12] - SoundHound's stock trades at a forward price-to-sales ratio of 24.56X, reflecting market optimism for future growth, while Veritone trades at 0.68X [14][15] - Analysts expect SoundHound's revenue to double in 2025, while Veritone's revenue is projected to decline by 0.7% [16][17] Group 4: Conclusion - SoundHound appears to have better upside potential due to its strong revenue growth, solid balance sheet, and expanding partnerships [22][24] - Veritone, while focusing on enterprise and government AI solutions, faces challenges with declining revenue and high debt, indicating a longer path to recovery [23][24]

Veritone (VERI) FY Conference Summary Company Overview - **Company Name**: Veritone - **Founded**: 2014 - **CEO**: Ryan Stielberg - **IPO Revenue**: $100 million - **Core Business**: AI-driven audio and video indexing and understanding [1][27] Industry Context - **Industry**: AI and Media Technology - **Market Dynamics**: Shift towards leveraging unstructured data (80% of new data) for advertising and content management [11][12] - **Emerging Trends**: Increased demand for training data for AI models, particularly with the rise of large language models [37][39] Key Points and Arguments Historical Context and Evolution - Veritone's journey began in the mid-90s with ad tech, evolving through various phases to focus on AI and unstructured data [3][4][10] - The company initially aimed to build a large infrastructure (aiWARE) but pivoted to develop end applications due to market readiness [28][30][31] Business Model and Revenue Streams - Current revenue is primarily derived from applications built on the aiWARE platform, with a significant focus on media and entertainment [31][36] - The introduction of Veritone Data Refinery (VDR) is expected to drive substantial growth, targeting a $17 billion market for training data in the next 5-7 years [37][41] Customer Engagement and Use Cases - Major clients include ESPN and Disney, with Veritone automating content ingestion and indexing processes [16][24] - The company processes over 60 million hours of audio and video annually, equating to approximately 11 petabytes of data [25] Public Sector Expansion - Veritone has made significant inroads into the public sector, working with the Department of Defense (DOD) and Department of Justice (DOJ) [48][55] - The technology aids in data management for law enforcement, enhancing the speed and efficiency of investigations [53][54] Additional Insights - Veritone's platform is agnostic, operating on AWS and Azure, allowing flexibility for clients [26] - The company maintains a high customer retention rate (90 percentile), indicating strong client satisfaction and loyalty [58] - Veritone positions itself as a leader in audio and video understanding, claiming no other company matches its capabilities in this domain [27] Financial Metrics - Revenue from end applications is approximately $60 million, with expectations for significant growth from VDR in 2025 and beyond [31][43] - Contracts for VDR are six figures and higher, indicating strong market interest and potential for revenue generation [44] Conclusion - Veritone is transitioning back to its core AI focus after diversifying into various sectors, with a strong emphasis on leveraging unstructured data for both commercial and public sector applications [36][60] - The company is poised for growth, particularly with the introduction of VDR and its established presence in the media and public sectors, making it a potentially undervalued stock in the AI market [62]

Financial Performance - Revenue for Q1 2025 was $22,463,000, a decrease of 7% compared to $24,153,000 in Q1 2024[19] - Operating loss for Q1 2025 was $21,634,000, an improvement from a loss of $24,370,000 in Q1 2024[19] - Net loss from continuing operations for Q1 2025 was $19,875,000, compared to a net loss of $26,200,000 in Q1 2024, reflecting a 24% reduction[19] - The company reported a comprehensive loss of $20,295,000 for Q1 2025, compared to a comprehensive loss of $24,979,000 in Q1 2024[19] - The Company reported a net loss of $(19,875,000) for the three months ended March 31, 2025, compared to a net loss of $(25,198,000) for the same period in 2024, reflecting a reduction in losses[47] - A net loss of $19.9 million was reported for Q1 2025, an improvement from a net loss of $25.2 million in Q1 2024[161] - Non-GAAP net loss for the three months ended March 31, 2025, was $11.13 million, compared to a non-GAAP net loss of $7.62 million for the same period in 2024, representing an increase of 46.5%[171] Assets and Liabilities - Total current assets increased to $61,289,000 as of March 31, 2025, up from $59,406,000 as of December 31, 2024[18] - Total liabilities remained relatively stable at $184,893,000 as of March 31, 2025, compared to $184,608,000 as of December 31, 2024[18] - Cash and cash equivalents decreased to $16,082,000 as of March 31, 2025, down from $16,911,000 as of December 31, 2024[18] - Stockholders' equity increased to $14,754,000 as of March 31, 2025, compared to $13,452,000 as of December 31, 2024[18] - As of March 31, 2025, the company had cash and cash equivalents of $16.1 million and outstanding debt obligations of $39.2 million under the Term Loan and $91.3 million under Convertible Notes[198][199] Revenue Breakdown - Software Products & Services revenue was $14.5 million, down from $15.2 million year-over-year, while Managed Services revenue decreased from $8.9 million to $8.0 million[144] - Commercial Enterprise Software Products & Services revenue decreased by $0.6 million, or 4.0%, to $13.149 million for the three months ended March 31, 2025, compared to $13.703 million in the prior year[187] - Public Sector Software Products & Services revenue decreased by $0.2 million, or 12.1%, to $1.334 million for the three months ended March 31, 2025, compared to the prior year[188] - Total revenue for the three months ended March 31, 2025, was $22.463 million, a decrease from $24.153 million in the prior year, reflecting a decline of 7.0%[186] Cash Flow and Financing - Cash used in operating activities for continuing operations was $17,044,000 in Q1 2025, compared to $15,898,000 in Q1 2024[24] - Net cash used in operating activities was $17.0 million for the three months ended March 31, 2025, an increase of $1.1 million from $15.9 million in the prior year[203] - Net cash provided by financing activities was $17.9 million for the three months ended March 31, 2025, an increase of $19.6 million compared to net cash used of $1.7 million in the prior year[205] - The Company raised approximately $20,300 in gross proceeds from a registered direct offering on January 2, 2025, selling 4,414,878 shares at $2.53 each[119] Strategic Actions and Future Outlook - The Company is evaluating additional strategies to obtain funding for future operations, which may include equity financing and operational restructuring[34] - The Company has substantial doubt about its ability to continue as a going concern over the next twelve months due to current debt service obligations and historical negative cash flows[33] - The Company expects substantial growth in 2025 from new product launches, including the Intelligent Digital Evidence Management System and Veritone Data Refinery[156] - The company achieved $40.0 million in net annualized strategic cost reductions since January 1, 2023, due to organizational restructuring efforts[154] Divestitures and Acquisitions - The divestiture of Veritone One has been classified as discontinued operations, impacting the Company's financial results and operations significantly[30] - The Company completed the divestiture of its subsidiary Veritone One for a cash proceeds of $59,053, reflecting an aggregate purchase price of $104,000, subject to adjustments and earnout provisions[53] - The divestiture of Veritone One allowed the Company to focus on its core software and applications, reducing dependency on advertising-related services[51] - The acquisition of Broadbean in June 2023 expanded the customer base throughout Europe and Asia Pacific, with plans for further international expansion[162] Internal Controls and Compliance - As of March 31, 2025, the company's disclosure controls and procedures were not effective at the reasonable assurance level due to material weaknesses in internal control over financial reporting[212] - A material weakness was identified during the preparation of the Quarterly Report for the quarter ended June 30, 2024, related to ineffective information and communication processes[214] - The identified material weaknesses have not been remediated as of March 31, 2025[215] - Management is taking remediation actions, emphasizing the importance of internal controls and a strong control environment[216]