Veritone Q2 revenue $31M (+11% YoY); announces formal divestiture process for non-software asset

Veritone, Inc.

2024-Q2 EPS reported -$1.26 revenue$62,628,000

Total revenue $31.0M, up 11% YoY; Software Products & Services revenue $15.6M, Managed Services $15.4M.
Total ARR $67.9M (SaaS ARR $49.2M, 72% of total) from 3,437 customers; new bookings $14.0M (+67% YoY).
Operating loss improved to $17.7M from $28.2M in Q2 2023; non-GAAP net loss $6.9M (47% improvement).
Public sector sales pipeline exceeds $100M; signed landmark NCAA contract, largest by run rate.
Formal process to divest non-software asset in 2024; proceeds to repay term debt and fund operations.

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