Veritone ( (VERI) ) has released a notification of late filing.
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Veritone, Inc. has filed a Form 12b-25 to notify investors of a delay in submitting its Annual Report on Form 10-K (Yearly Report) for the year ended December 31, 2025. The company cites complex accounting work around certain barter revenue transactions under ASC 606, including a $13 million non-monetary on-premise software license deal and the fair value of another software sale, as the main source of the holdup.
Management is still analyzing whether these transactions require out-of-period adjustments that could reduce previously reported third-quarter 2025 revenue by $1.5 million to $2.5 million, or roughly 5.2% to 8.6% of that quarter’s reported $29.1 million revenue. This review could lead to revisions or restatements of financial statements for the quarters ended June 30, 2025 and September 30, 2025, underscoring ongoing internal accounting scrutiny rather than auditor or governance disruption.
Veritone says it expects to file the Form 10-K (Yearly Report) as soon as possible and no later than 15 calendar days after the original deadline, as permitted under SEC rules for late filings. The company has already released and then updated preliminary, unaudited results for the fourth quarter and full year 2025, and it does not currently anticipate material changes between those numbers and what will appear in the final Form 10-K (Yearly Report).
The updated preliminary figures point to fourth-quarter 2025 revenue in a range of $18.1 million to $21.8 million, down from $22.4 million a year earlier, with softer software and representation services sales driving the decline. Operating expenses eased to about $41.2 million from $43.5 million, but the company still expects an operating loss of $19.7 million to $23 million and a loss from continuing operations before taxes of $33.9 million to $37.2 million, reflecting a significant non-cash $13 million charge tied to early retirement of senior secured debt.
For full-year 2025, Veritone projects revenue of $93.7 million to $94.9 million, slightly above 2024’s $92.6 million, supported by growth in VDR and public sector software despite weaker representation services and Veritone Hire. Operating expenses are expected to fall to about $173.5 million from $180.8 million, narrowing the operating loss to between $78.6 million and $79.8 million, though net loss from continuing operations is set to widen to $109.1 million to $110.3 million versus $96.3 million in 2024.
On a non-GAAP basis, the company expects a 2025 net loss from continuing operations of $38 million to $39.2 million, modestly better than the $40.8 million non-GAAP loss in 2024, after adjusting for items such as depreciation, stock-based compensation, acquisition costs and the debt extinguishment. Veritone also provided a 2026 outlook, forecasting GAAP net loss of $43.3 million to $53.8 million and non-GAAP net loss of $13.5 million to $22.5 million, signaling continued but potentially narrowing losses if execution improves.
Liquidity remains a key concern for investors, with Veritone expecting to report about $27.4 million in cash and cash equivalents at December 31, 2025. Management currently expects to conclude that substantial doubt exists about the company’s ability to continue as a going concern over the 12 months following the eventual filing of the Form 10-K (Yearly Report), emphasizing the importance of cost controls, capital access and operational progress.
The company stresses that all forward-looking statements, including expected results, the resolution of the revenue accounting review and the timing of the Form 10-K (Yearly Report), are subject to significant risks and uncertainties and may change. Nonetheless, Veritone reiterates its intention to complete the accounting work, finalize its consolidated financial statements and remain compliant with SEC reporting requirements.
The notification is signed on behalf of Veritone, Inc. by Executive Vice President, Chief Financial Officer and Treasurer Michael L. Zemetra, dated April 1, 2026. His signature formalizes the company’s commitment to resolving the accounting issues, delivering the delayed filing within the permitted extension window and keeping shareholders informed as the situation develops.
The most recent analyst rating on (VERI) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Veritone stock, see the VERI Stock Forecast page.
Spark’s Take on VERI Stock
According to Spark, TipRanks’ AI Analyst, VERI is a Neutral.
The score is held down primarily by weak financial performance (ongoing losses, high leverage, and negative operating cash flow) and bearish technicals (downtrend with negative momentum). These are partially offset by a strong and optimistic earnings call featuring accelerating revenue growth, materially lower debt service, improved liquidity, and upbeat revenue/non-GAAP loss guidance; valuation provides limited support due to negative earnings and no dividend.
To see Spark’s full report on VERI stock, click here.
More about Veritone
Veritone, Inc. is an Irvine, California-based technology company focused on AI-driven software, including on-premise and cloud solutions for media, public sector and enterprise customers. Its revenue mix spans software products and services, representation services and recruiting technology, with recent emphasis on VDR and public sector software growth.
Average Trading Volume: 2,381,236
Technical Sentiment Signal: Strong Sell
Current Market Cap: $180.9M
Learn more about VERI stock on TipRanks’ Stock Analysis page.