VERI Earnings Prediction
The chart below shows how VERI performed 10 days before and after its earnings report, based on data from the past quarters. Typically, VERI sees a +18.09% change in stock price 10 days leading up to the earnings, and a +17.54% change 10 days following the report. On the earnings day itself, the stock moves by -4.01%. This data can give you a slight idea of what to expect for the next quarter's release.
VERI Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
21.99M
-21.36%
-29.04%
Gross Margin
43.85%
-15.35%
-26.23%
Operating Margin
-92.52%
26.60%
79.86%
Net Margin
-102.36%
7.09%
42.70%
EPS
-0.57
-13.64%
-3.39%
No Data Available
VERI Earnings Analysis
Veritone, Inc. Common Stock Corporation (VERI.O) Earnings Conference Call
Positive
Divestiture Agreement Success: Veritone successfully executed an agreement and closed on the divestiture of Veritone One, valued at up to $104 million.
Strategic AI Divestiture: The divestiture represents a fundamental repositioning of the company in the rapidly evolving AI landscape, unlocking shareholder value and reinforcing market leadership.
Customer Diversification Success: Post-divestiture, Veritone has eliminated customer concentration risk with no single customer accounting for more than 5% of revenues, while maintaining gross revenue retention well above the 90th percentile.
Public Sector Customer Growth: In Q3, Veritone added 13 new Public Sector customers to its portfolio, showcasing strong demand and growth in this vertical.
Fiscal 2025 Revenue Projection: The company expects fiscal 2025 revenue to be between $107 million and $122 million, representing a 22% year-over-year increase.
Negative
Q3 Revenue Decline: Q3 revenue was $22 million in line with our guidance and down $6 million from Q3 2023 primarily due to a decline in Software Products & Services.
Software Revenue Decline: The decline in Software Products & Services was driven in part by commercial enterprise, which declined $5.8 million year-over-year largely due to the expected decline in consumption-based customers over the same period, including Amazon and certain one-time software revenue in Q3 2023 of approximately $2.7 million, which did not recur in Q3 2024.
Operational Loss Improvement: Q3 loss from operations was $22.5 million as compared to $25.2 million, an improvement of $2.7 million or 11% from Q3 2023. This was primarily driven by improvements made in our operating expense structure over the past 24 months, offset by a lower non-GAAP gross profit from the decline in revenue over the same period.
Gross Profit Decline: Excluding the divestiture Q3 non-GAAP gross profit reached $15.7 million, declining 24.9% from Q3 2023 of $20.9 million.
Gross Margin Decline Analysis: Our non-GAAP gross margin in Q3 2024 was 71.2% as compared to 74.9% in Q3 2023. Driving this was the decline in the revenue mix over the corresponding period, which largely came from revenue that generated over 90% non-GAAP gross margin.
VERI FAQs
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VERI Earning Call Sentiment
Veritone, Inc. (VERI) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
VERI.O
2.99%Positive
The earnings call reveals mixed signals: while there is positive news from debt reduction and potential growth in the public sector, there are concerns regarding revenue decline and operational efficiency. The Q&A session highlights uncertainty in revenue forecasting due to public sector deal timing. Despite some optimism for 2025, the lack of clarity on other growth areas tempers expectations. The divestiture and improved loss projections are positives, but the current revenue decline and lack of immediate catalysts suggest a neutral stock price movement in the short term.
