Veritone(VERI) - 2025 Q3 - Quarterly Results

Veritone Announces VDR Contract Wins and Updates Q3 Financial Outlook Veritone announces significant VDR contract wins and provides an updated preliminary financial outlook for Q3 2025 Veritone Data Refinery (VDR) Business Update Veritone secured significant VDR contracts with hyperscalers and model developers, doubling its pipeline and bookings to nearly $40 million since August 2025 - Veritone's VDR solution transforms proprietary, unstructured data into actionable, license-ready intelligence for AI development with hyperscalers and model developers[1][2] - Rapid AI infrastructure build-out drives surge in demand for high-quality unstructured training data, creating significant economic value[3][4] - Veritone targets formalizing partnerships with nearly every major hyperscaler by end of 2025, solidifying its role in the unstructured training data ecosystem[5] VDR Pipeline and Bookings Growth | Metric | Value | | :----- | :---- | | Near-time VDR pipeline and recent bookings | Nearly $40 million | | Change from August 2025 | 100% increase | Preliminary Q3 2025 Financial Outlook Veritone projects preliminary Q3 2025 revenue between $28.5M-$28.7M, a 30.5% increase, and a Non-GAAP Net Loss of $5.5M-$6.0M, a 48.2% increase, subject to audit - Q3 2025 financial results are preliminary, unaudited estimates and are subject to change until the Company's Form 10-Q filing[6] Preliminary Q3 2025 Financial Estimates | Metric | Q3 2025 Estimate (in millions) | YoY Change (midpoint) | | :----- | :----------------------------- | :-------------------- | | Revenue | $28.5 - $28.7 | +30.5% (from Q3 2024) | | Non-GAAP Net Loss | $5.5 - $6.0 | +48.2% (from Q3 2024) | Q3 2025 Earnings Conference Call Veritone will host a conference call to discuss its Q3 2025 results and provide a business update Conference Call Details Veritone will host a conference call on November 6, 2025, at 5:00 p.m. ET to discuss Q3 2025 results and provide a business update - Veritone will hold a conference call on Thursday, November 6, 2025, at 5:00 p.m. Eastern Time to discuss Q3 2025 results and provide a business update[8] Supplemental Non-GAAP Financial Information This section explains the company's use of non-GAAP financial measures and provides a reconciliation to GAAP results Explanation of Non-GAAP Measures Veritone uses non-GAAP net loss, adjusted from GAAP net loss by excluding specific items, as a supplemental performance measure for internal and external evaluation, not as a replacement for GAAP results - Non-GAAP net loss excludes items such as discontinued operations, interest expense, income taxes, depreciation, stock-based compensation, and acquisition costs from GAAP net loss[10] - Management utilizes non-GAAP net loss for forecasting, budgeting, and annual bonus compensation, believing it enhances consistency and comparability by excluding non-operating items[12] - Non-GAAP financial measures are not GAAP-compliant and should not be considered an alternative to GAAP net income (loss) or cash flow from operating activities[11][12] Reconciliation of Expected Non-GAAP Net Loss to GAAP Net Loss A detailed reconciliation table outlines adjustments made to convert expected GAAP Net Loss to expected Non-GAAP Net Loss for the three and nine months ended September 30, 2025 Reconciliation of Expected Non-GAAP Net Loss to GAAP Net Loss | Item | Three Months Ended Sep 30, 2025 (in millions) | Nine Months Ended Sep 30, 2025 (in millions) | | :-------------------------------- | :-------------------------------------------- | :------------------------------------------- | | Net loss (GAAP) | $(29.3) to $(19.3) | $(76.0) to $(66.0) | | Interest expense, net | $2.9 | $9.0 | | Income taxes | $1.0 to $— | $1.6 to $0.6 | | Depreciation and amortization | $7.4 | $21.5 | | Stock-based compensation expense | $1.6 | $5.1 | | Change in fair value of earnout receivable | $8.0 to $— | $7.2 to $(0.8) | | Contingent purchase compensation expense | $0.1 | $0.3 | | Foreign currency impact and other | $0.1 | $(0.1) | | Acquisition and due diligence costs | $— | $0.9 | | Severance and executive transition costs | $0.2 | $1.7 | | Other non-recurring items | $2.0 to $1.5 | $3.0 to $2.5 | | Non-GAAP net loss | $(6.0) to $(5.5) | $(25.8) to $(25.3) | Corporate Information This section provides an overview of Veritone, its safe harbor statement, and investor contact details About Veritone Veritone (NASDAQ: VERI) delivers human-centered enterprise AI solutions across media, public sector, and talent acquisition, leveraging its aiWARE™ platform for actionable intelligence - Veritone (NASDAQ: VERI) develops human-centered enterprise AI solutions, serving customers in media, entertainment, public sector, and talent acquisition industries[13] - The company's aiWARE™ platform orchestrates machine learning models to transform data into actionable intelligence, enhancing efficiency and accelerating decision-making[13] Safe Harbor Statement This statement outlines forward-looking statements for Q3 2025 financial outlook and VDR performance, detailing risk factors that could cause actual results to differ - The news release contains forward-looking statements concerning Q3 2025 revenue and non-GAAP net loss, VDR solution performance, customer acquisition, and expected partnerships by year-end 2025[14] - Actual results may differ materially due to factors including finalization of results, debt servicing, AI market acceptance, capital needs, customer reliance, and macroeconomic/geopolitical impacts[14] Contacts Investor contact information is provided for Veritone's CFO, Mike Zemetra, and Investor Relations representative, Cate Goldsmith - Investor inquiries can be directed to Mike Zemetra, CFO, or Cate Goldsmith of Prosek Partners[15]