Veritone Q4 revenue falls 22% to $34.2M, guides FY2024 revenue up 5-11%

Veritone, Inc.

Q4 2023 revenue $34.2M (-22% YoY); FY2023 revenue $127.6M (-15% YoY). Non-GAAP net loss Q4 $6.8M vs +$2.2M prior year.
Software Products & Services revenue $19.8M (-27% YoY); ARR fell 30% to $82.1M due to large customer consumption decline.
Announced restructuring in Q1 2024, targeting >15% annualized opex savings, with profitability as early as Q4 2024.
Closed $77.5M senior secured term loan; used $37.5M to repurchase $50M of 2026 convertible notes at discount.
Guidance: Q1 2024 revenue $30.5-31.5M, FY2024 revenue $134-142M (5-11% growth). Non-GAAP net loss narrowing.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Veritone, Inc. reported financial results for the fourth quarter and fiscal year ended December 31, 2023.

Period: the fourth quarter and fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 12, 2024, Veritone, Inc. (the “Company”) announced its financial results for the fourth quarter and year ended December 31, 2023. The press release issued by the Company in connection with the announcement is attached to this report as Exhibit 99.1.

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Veritone, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-029995

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