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VERI

Veritone, Inc.

VERI

Veritone, Inc. • NASDAQ
$4.37 ▲ 1.51% (+0.07)
Market Cap $220.45 M
52w High $9.42
52w Low $1.22
Dividend Yield 0%
P/E -2.17
Volume 2.08M
Outstanding Shares 50.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $29.118M ▲ $28.983M ▼ $-26.88M ▼ -92.314% ▲ $-0.36 ▲ $-16.885M ▼
Q2-2025 $24.013M ▲ $35.853M ▼ $-26.798M ▼ -111.598% ▼ $-0.54 ▼ $-15.308M ▼
Q1-2025 $22.463M ▲ $36.263M ▲ $-19.875M ▼ -88.479% ▼ $-0.45 ▲ $-10.421M ▼
Q4-2024 $22.433M ▲ $35.426M ▼ $31.793M ▲ 141.724% ▲ $-0.91 ▼ $-10.318M ▲
Q3-2024 $21.993M $38.16M $-21.746M -98.877% $-0.57 $-14.698M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $36.233M ▲ $200.221M ▲ $184.203M ▼ $16.018M ▲
Q2-2025 $13.568M ▼ $186.806M ▼ $185.588M ▲ $1.218M ▼
Q1-2025 $16.082M ▼ $199.647M ▲ $184.893M ▲ $14.754M ▲
Q4-2024 $16.911M ▲ $198.06M ▼ $184.608M ▼ $13.452M ▲
Q3-2024 $11.422M $336.425M $361.586M $-25.161M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-26.88M ▼ $-15.886M ▼ $-1.222M ▼ $39.615M ▲ $19.015M ▲ $-17.108M ▼
Q2-2025 $-26.798M ▼ $-8.233M ▲ $-958K ▲ $7.398M ▼ $-2.513M ▼ $-9.191M ▲
Q1-2025 $-19.875M ▲ $-17.044M ▼ $-1.353M ▼ $17.861M ▲ $-949K ▼ $-18.397M ▼
Q4-2024 $-24.258M ▼ $-500K ▼ $1.726M ▲ $-31.167M ▼ $5.489M ▲ $-1.464M ▼
Q3-2024 $-21.746M $3.568M $-1.735M $-1.936M $-103K $1.833M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Licensing
Licensing
 $0 ▲$0 ▲$0 ▲$0 ▲
Managed Services
Managed Services
 $0 ▲$10.00M ▲$10.00M ▲$10.00M ▲
Software Products And Services
Software Products And Services
 $20.00M ▲$10.00M ▼$20.00M ▲$20.00M ▲
License
License
 $0 ▲$10.00M ▲$10.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Veritone’s income statement reflects a classic “promising tech, early-stage economics” profile. Revenue ramped up earlier in the decade but has slipped from its prior peak, partly due to portfolio changes and refocusing of the business. Gross margins are healthy for a software platform, suggesting the core technology can be profitable at scale. The main issue is size versus cost: operating expenses remain well above gross profit, so the company has been consistently loss‑making at the operating and net income levels. There was a brief period where earnings before certain non‑cash items turned slightly positive, but that did not hold, and losses have widened again more recently. In simple terms, the business has not yet reached the scale needed to cover its cost base, and profitability remains a future objective rather than a current reality.

Balance Sheet

Balance Sheet The balance sheet shows a company that has shrunk from its earlier peak scale and now operates with a much leaner asset base and a slimmer margin for error. Cash holdings are notably lower than they were a few years ago, while debt is now a meaningful part of the capital structure after being negligible earlier on. Equity has eroded over time as cumulative losses piled up, leaving a relatively thin capital cushion. This mix means Veritone is more financially fragile than in the past: it has less cash, more leverage, and less balance‑sheet flexibility to absorb setbacks or fund long stretches of heavy investment without improvement in results or access to new capital.

Cash Flow

Cash Flow Cash flow underscores the same story: a business still in investment mode rather than self‑funding. Operating cash flow hovered around break‑even earlier in the period but has turned more clearly negative in the last couple of years, meaning the company is consuming cash to run its operations. Free cash flow follows the same pattern, as capital spending is modest but not the main driver; the core operations are. The low capital intensity is a plus for a software company, but without consistent positive operating cash flow, Veritone remains dependent on balance sheet resources, cost discipline, or fresh financing to sustain its innovation and growth plans.

Competitive Edge

Competitive Edge Competitively, Veritone occupies an interesting niche in AI infrastructure rather than trying to be just another standalone model provider. Its aiWARE operating system is designed to orchestrate many different AI engines, including third‑party models, and handle complex, unstructured data like audio and video. This “orchestrator” role, combined with deep specialization in select verticals such as media, public safety, and government, gives it a differentiated position. Products like Redact, Voice, and IDEMS are tightly integrated into real customer workflows, which can create stickiness and high switching costs. Partnerships with large cloud players and hyperscalers also help extend its reach. The flip side is that Veritone is small and competing in an intensely crowded, fast‑moving AI landscape dominated by giants with far more resources. Its moat depends on execution: maintaining superior vertical solutions, keeping aiWARE truly engine‑agnostic and valuable, and proving it can deliver outcomes that generic cloud tools do not easily match.

Innovation and R&D

Innovation and R&D Innovation is the clear strength of Veritone’s story. The aiWARE platform, with its multi‑engine orchestration and ability to process many data types at once, is a thoughtfully designed layer for real‑world AI deployment. Recent advances such as the Veritone Data Refinery, which cleans and structures unstructured data for AI training and analytics, are especially well aligned with one of the biggest bottlenecks in AI today: high‑quality training data. On top of the core platform, Veritone has built a suite of specialized applications—Redact for automated video and audio redaction, Voice for synthetic speech, IDEMS for digital evidence management, and Automate Studio for low‑code AI workflows. The company is also pushing into generative AI, aiming to embed these capabilities directly into customer use cases. All of this R&D investment is resource‑intensive and contributes to current losses, but it is also what differentiates Veritone from larger yet more generic providers. The key question is whether the company can turn this innovation pipeline—especially Data Refinery and public‑sector solutions—into durable, scaled revenue before financial constraints limit its ability to keep innovating at the current pace.

Summary

Veritone today looks like a technically ambitious AI infrastructure and applications company whose financial profile still resembles an early‑stage, scaling story. On the positive side, it has a clear technological vision (aiWARE as an AI operating system), real vertical depth (media, public safety, government), and a growing set of differentiated products built on that platform. The Veritone Data Refinery and government‑focused solutions, in particular, give it exposure to large, emerging markets in AI training data and public‑sector modernization. On the risk side, the company remains structurally unprofitable, with a thinner balance sheet, reduced cash, and more leverage than a few years ago. Cash burn and ongoing R&D needs limit flexibility. At the same time, it is competing in a space dominated by hyperscalers and well‑funded AI players, where technology and customer expectations are evolving quickly. Overall, Veritone appears to be at a crossroads: the strategy and product set offer meaningful upside if they can be scaled and monetized efficiently, but the financial and competitive realities introduce considerable execution risk. Outcomes could vary widely depending on how effectively the company converts its innovation edge into sustainable, cash‑generating growth.

NEWS

November 20, 2025 · 7:30 AM UTC

Veritone to Host AI and Data Economy Investor Forum on December 1, 2025

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November 13, 2025 · 7:30 AM UTC

Veritone Announces Majority Debt Reduction, Fully Retires Senior Secured Credit Facility

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November 10, 2025 · 7:30 AM UTC

Veritone Statement on Q3 Results

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November 6, 2025 · 4:45 PM UTC

Veritone Reports Strong Third Quarter 2025 Results

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October 16, 2025 · 8:30 AM UTC

Veritone Announces Equity Offering of $75 Million

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