Veritone Q1 revenue $31.6M beats guidance; ARR drops 36% YoY to $72.1M

Veritone, Inc.

2024-Q1 EPS reported -$0.67 revenue$31,636,000

Q1 total revenue $31.6M (+4.5% YoY), above high end of guidance; net loss $25.2M vs $23.0M YoY.
Software Products & Services ARR $72.1M, down 36% YoY driven by consumption revenue decline from largest customer.
Subscription-based ARR up 7% YoY; total customers 3,384 (-10% YoY); new bookings $13.0M (-43% YoY).
Q1 restructuring delivers $13M+ annualized savings; targeting non-GAAP net income as early as Q4 2024.
Non-GAAP net loss $7.6M, improving 20.3% YoY; non-GAAP gross profit $24.6M up $1.1M.

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 the first quarter ended March 31, 2024 results: revenue $31.6 million, net income $25.2 million.

Period: the first quarter ended March 31, 2024
Revenue: $31.6 million
Net income: $25.2 million
Result: reported results

Exact text from the filing

events for any reason, except as required by law. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Veritone Reports First Quarter 2024 Results - Q1 Total Revenue of $31.6 Million, Outperforming the High End of Guidance - - Total ARR (SaaS and Consumption) of $72.1 Million from 3,384 Total Software Products & Services Customers, Including ARR (SaaS) of

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Source: SEC EDGAR

accession 0000950170-24-054647

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