Veritone ( (VERI) ) has released a notification of late filing.
Veritone, Inc. has announced a delay in filing its Form 10-K (Yearly Report) for the fiscal year ending December 31, 2024. The delay is primarily due to complications arising from the divestiture of its subsidiary, Veritone One, LLC, which has necessitated a reclassification of its financial results as discontinued operations. This strategic shift has significantly impacted the company’s financial presentation, causing delays in the preparation of its consolidated financial statements. Veritone anticipates filing the delayed report by the fifteenth calendar day following the original due date. The company has indicated that the financial results in the forthcoming Form 10-K are not expected to deviate materially from those disclosed in its recent press release. However, the company has reported a decrease in revenue and an increase in net loss for the fourth quarter and fiscal year 2024, primarily due to lower consumption across its commercial enterprise customer base and a one-time gain in the previous year that did not recur. Veritone is actively working to ensure compliance and has signed the notification under the authority of Michael L. Zemetra, its Executive Vice President, Chief Financial Officer, and Treasurer.
More about Veritone
YTD Price Performance: -18.44%
Average Trading Volume: 953,620
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $116.4M
For an in-depth examination of VERI stock, go to TipRanks’ Stock Analysis page.