earnings
confidence high
sentiment negative
materiality 0.80
Veritone Q2 revenue down 18% to $28M, net loss widens to $23.3M
Veritone, Inc.
2023-Q2 EPS reported
-$1.26
revenue$58,230,000
- Revenue $28.0M (-18% YoY); Software rev $14.1M (-23%); Managed Services $13.9M (-13%).
- ARR $107.9M (-17% YoY) with subscription rev up 7% to $47.7M; New Bookings $8.4M (-62%) from Amazon pullback.
- Non-GAAP net loss $13.0M vs $7.2M loss in Q2 2022.
- Acquired Broadbean for $53M cash in June 2023; divested Energy Group; achieved $17M annualized savings.
- Guidance: Q3 rev $35.5-$37.5M, FY rev $128-$135M; Non-GAAP net loss $28-$33M for FY 2023.