secwatch.observer — SEC 8-K summary
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Issuer:     Veritone, Inc. (VERI)
CIK:        0001615165
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0000950170-23-039846
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Veritone Q2 revenue down 18% to $28M, net loss widens to $23.3M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1615165/000095017023039846/0000950170-23-039846-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1615165/000095017023039846/veri-20230808.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-039846

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer