NASDAQ$VERI
Veritone Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Veritone's Q1 2024 revenue outperformed guidance, driven by strong customer retention and strategic restructuring.
Veritone reported Q1 2024 revenue of $31.6 million, exceeding the high end of its guidance range. The company focused on restructuring efforts, which are expected to yield over $13.0 million in annualized savings and accelerate non-GAAP net income as early as Q4 2024. ARR reached $72.1 million.
- Total revenue reached $31.6 million, outperforming the high end of guidance.
- Total ARR (SaaS and Consumption) was $72.1 million from 3,384 total software products & services customers.
- Total new bookings in Q1 amounted to $13.0 million.
- Restructuring efforts are forecasted to result in over $13.0 million in annualized savings.
Headline financials
Revenue & EPS history
Veritone · Revenue · Quarterly
$31.6M
Revenue by segment
Veritone · $20.3M total across 2 segments · Q1 2026
- Software Products & Services$13.8M—68.2%
- Managed Services$6.44M—31.8%
Forward guidance
Veritone anticipates revenue between $31.0 million and $32.0 million and a non-GAAP net loss between $5.5 million and $6.5 million for Q2 2024. For the full year 2024, revenue is projected to be between $136.0 million and $142.0 million, with a non-GAAP net loss between $11.0 million and $15.0 million.
Tailwinds
- Revenue is expected to be in the range of $31.0 million to $32.0 million, as compared to $30.0 million in the second quarter of 2023.
- Non-GAAP net loss is expected to be in the range of $5.5 million to $6.5 million, compared to non-GAAP net loss of $13.0 million in the second quarter of 2023.
- Revenue is expected to be in the range of $136.0 million to $142.0 million, as compared to $127.6 million for fiscal 2023.
- Non-GAAP net loss is expected to be in the range of $11.0 million to $15.0 million, compared to non-GAAP net loss of $37.5 million for fiscal 2023.
- Q1 restructuring of organization resulted in over $13.0 million in forecasted annualized cost savings, accelerating non-GAAP net income to as early as Q4 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-2.7%
Avg return
Earnings day
-2.6%
Avg return
5 days after
+2.3%
Avg return
30 days after
38%
14 / 37 earnings
Positive
+23.2%
Q2 2025
Best reaction
-38.5%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.0% | -3.5% | -23.9% | |
| Q4 2025 | -1.4% | -5.2% | -35.2% | |
| Q3 2025 | -10.5% | -20.8% | -18.5% | |
| Q2 2025 | +23.2% | +13.9% | +15.2% | |
| Q1 2025 | -8.7% | -11.1% | -24.6% | |
| Q4 2024 | +11.5% | +17.5% | -6.8% | |
| Q3 2024 | -15.0% | -18.2% | -35.0% | |
| Q2 2024 | +3.5% | +25.0% | +25.7% | |
| Q1 2024 | +6.9% | -9.7% | -27.5% | |
| Q4 2023 | +17.3% | +110.3% | +155.8% | |
| Q3 2023 | -33.0% | -27.5% | -19.4% | |
| Q2 2023 | -38.5% | -31.4% | -29.9% | |
| Q1 2023 | -13.9% | -15.7% | -33.9% | |
| Q4 2022 | +15.5% | +6.4% | -9.5% | |
| Q3 2022 | -13.9% | +10.6% | +21.0% | |
| Q2 2022 | -16.9% | -22.9% | -29.6% | |
| Q1 2022 | -1.6% | -17.9% | -27.8% | |
| Q4 2021 | -3.5% | -6.8% | +9.0% | |
| Q3 2021 | -1.1% | +5.8% | -27.2% | |
| Q2 2021 | -1.6% | +4.1% | +2.1% | |
| Q1 2021 | -12.2% | -10.5% | -18.7% | |
| Q4 2020 | -9.0% | -16.7% | -32.8% | |
| Q3 2020 | +6.5% | +22.3% | +185.5% | |
| Q2 2020 | -7.1% | -16.8% | -40.0% | |
| Q1 2020 | +20.4% | +16.7% | +121.2% | |
| Q4 2019 | +1.7% | -19.7% | -25.4% | |
| Q3 2019 | +0.0% | -2.3% | +11.3% | |
| Q2 2019 | -22.8% | -25.5% | -35.4% | |
| Q1 2019 | +17.0% | +12.9% | +40.8% | |
| Q4 2018 | +6.2% | +30.2% | +26.4% | |
| Q3 2018 | -3.6% | -24.9% | -19.5% | |
| Q2 2018 | -16.2% | -22.5% | -30.8% | |
| Q1 2018 | +9.3% | +7.8% | +1.7% | |
| Q4 2017 | -7.2% | -13.4% | -10.8% | |
| Q3 2017 | -16.3% | -36.0% | -37.9% | |
| Q2 2017 | -2.1% | -9.8% | +86.6% | |
| Q1 2017 | +12.4% | +10.3% | -16.3% | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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