Veritone ( (VERI) ) has released its Q2 earnings. Here is a breakdown of the information Veritone presented to its investors.
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Veritone, Inc. is a company that specializes in creating human-centered enterprise AI solutions, serving industries such as media, entertainment, public sector, and talent acquisition. In its latest earnings report for the second quarter of 2025, Veritone announced a total revenue of $24.0 million, reaching the top end of its updated guidance. The company saw a significant 45% growth in its core AI software revenue, driven by a new contract with the United States Air Force and an expanded Veritone Data Refinery pipeline.
Key financial highlights from the quarter include a 12% year-over-year increase in Software Products & Services revenue, excluding Veritone Hire, and a 22.3% decrease in Managed Services revenue. Despite a flat overall revenue compared to the previous year, the company reported a GAAP gross profit of $15.3 million and a non-GAAP gross profit of $16.5 million. Veritone also initiated cost reduction and restructuring initiatives, achieving $8.0 million in annualized savings, and announced a $10.0 million equity raise.
Strategically, Veritone secured a sole source contract with the United States Air Force to deploy its aiWARE and iDEMS solutions across the Department of Defense. The company also closed 11 software enterprise deals with notable clients and expanded its public sector solutions with new customer acquisitions and a significant pipeline increase.
Looking ahead, Veritone’s management remains optimistic about achieving profitability by the second half of 2026. The company expects third-quarter revenue to range between $28.0 million and $30.0 million, with a full-year revenue forecast of $108 million to $115 million, reflecting a 20% increase from the previous year.