NASDAQ$VERI

Veritone Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Veritone's Q3 2021 results were announced, featuring record revenue and growth in Software Products & Services, driven by the acquisition of PandoLogic.

Veritone reported record revenue of $22.7 million, a 44% increase year-over-year, driven by Software Products & Services growth and the acquisition of PandoLogic. The company's GAAP net loss was $11.4 million, while non-GAAP net loss improved to $2.3 million. Veritone raised its full-year 2021 guidance, expecting revenue to be in the range of $103.0 million to $105.5 million.

  • Record revenue of $22.7 million, up 44% year-over-year.
  • Software Products & Services revenue grew to $9.0 million, up 169% year-over-year.
  • Gross profit increased to $16.8 million, up 50% year-over-year.
  • Non-GAAP net loss improved by 46% year-over-year to $2.3 million.

Headline financials

Total Revenue

$22.7M

Previous: $15.7M+44.1%
EPS (adj)

-$0.07

Previous: -$0.15+53.3%
Capital Expenditures

-$448K

Previous: -$61K-634.4%
Free Cash Flow

-$11.9M

Previous: -$11.1M-7.4%
Net Income

-$11.4M

Previous: -$11M-3.9%
Operating Income

-$11M

Previous: -$11M-0.5%
Gross Profit

$16.8M

Previous: $11.2M+50.9%
Cash & Equivalents

$72.6M

Previous: $54.3M+33.7%
Total Assets

$291M

Previous: $120M+143.5%
Stock-Based Comp

$5.27M

No prior period

Revenue & EPS history

Veritone · Revenue · Quarterly

$22.7M

Q3 2021+44.1%vs Q3 2020
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

Veritone · $20.3M total across 2 segments · Q1 2026

  • Software Products & Services
    $13.8M—
  • Managed Services
    $6.44M—

Forward guidance

Management increased its full year 2021 guidance, reflecting the expedient acquisition and efficient integration of PandoLogic. Fourth Quarter 2021 Revenue is expected to be in the range of $43.8 million to $45.3 million, representing a 165% increase year over year at the midpoint. Non-GAAP net income is expected to be in the range of $8.5 million to $10.0 million, versus a non-GAAP net loss of $3.9 million in the fourth quarter of 2020. The Company increased its 2021 revenue expectations to be in the range of $103.0 million to $105.5 million, representing a 81% increase year over year at the midpoint. The Company narrowed its 2021 non-GAAP net loss expectations to be in the range of $1.5 million to breakeven, versus a non-GAAP net loss of $20.6 million in 2020.

Tailwinds

  • Fourth Quarter 2021 Revenue is expected to be in the range of $43.8 million to $45.3 million, representing a 165% increase year over year at the midpoint.
  • Non-GAAP net income is expected to be in the range of $8.5 million to $10.0 million, versus a non-GAAP net loss of $3.9 million in the fourth quarter of 2020.
  • The Company increased its 2021 revenue expectations to be in the range of $103.0 million to $105.5 million, representing a 81% increase year over year at the midpoint.
  • The Company narrowed its 2021 non-GAAP net loss expectations to be in the range of $1.5 million to breakeven, versus a non-GAAP net loss of $20.6 million in 2020.
  • Expedient acquisition and efficient integration of PandoLogic.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 18 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

-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

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026———
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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