Veritone Reports Q1 2025 Financial Results and Strategic Growth

Veritone ( (VERI) ) has released its Q1 earnings. Here is a breakdown of the information Veritone presented to its investors.

Veritone, Inc., a company specializing in human-centered enterprise AI solutions, serves various sectors including media, entertainment, and the public sector, leveraging its aiWARE platform to transform data into actionable intelligence. In its first quarter of 2025, Veritone reported a total revenue of $22.5 million, aligning with its preliminary outlook, and highlighted a significant increase in total new bookings by 22% year over year. Despite a 7% decline in revenue compared to the previous year, the company saw a promising pipeline growth for its Veritone Data Refinery offering, which doubled from $5 million to over $10 million.

Key financial metrics for the quarter showed a decrease in software products and services revenue by 4.8% and managed services revenue by 10.7% year over year. The company’s GAAP gross profit declined by 16%, while the non-GAAP gross profit saw a 15% decrease. However, Veritone managed to reduce its net loss to $19.9 million from $25.2 million in the same quarter of the previous year, indicating an improvement in operational efficiency.

Strategically, Veritone secured over 100 new business and renewal software agreements, including partnerships with notable companies like Freemantle and Audacy. The company also expanded its public sector reach, adding new state and local government clients and enhancing its presence in the Department of Defense marketplace. These developments underscore Veritone’s efforts to diversify its customer base and strengthen its market position.

Looking ahead, Veritone’s management remains optimistic about the company’s growth trajectory, expecting revenue to range between $104 million and $115 million for the full year 2025. The company anticipates continued momentum in its Veritone Data Refinery offering and aims to capitalize on new opportunities in both the commercial and public sectors.