Veritone Q2 revenue misses estimates

Veritone

13/08/2026 21:15

Overview
Enterprise AI solutions provider's Q2 revenue rose 5% yr/yr, missing analyst expectations
Company completed first phase of restructuring, delivering $11.3 mln in annualized cost reductions
Q2 gross margin declined due to higher mix of lower margin revenue

Outlook
Veritone expects 2026 revenue between $100 mln and $115 mln
Company sees 2026 non-GAAP net loss between $22 mln and $32 mln
Veritone targets additional cost reductions of $3.5 mln to $8.5 mln by year-end 2026

Result Drivers
REVENUE MIX - Gross margin declined due to a higher mix of lower margin revenue in Q2
MANAGED SERVICES - Managed Services revenue rose 15.2% yr/yr, driven by increases in representation and content licensing services
RESTRUCTURING COSTS - Operating loss increased due to $4.5 mln in restructuring expenses related to severance and transition costs

Company press release: ID:nBw8PDv5Sa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$24.26 mln
$28.29 mln (3 Analysts)
Q2 Loss Per Share
 
$0.24
 
Q2 Net Loss
 
$22.16 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the it services & consulting peer group is "buy"
Wall Street's median 12-month price target for Veritone Inc is $9.00, about 492.1% above its August 12 closing price of $1.52

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)