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Veritone (VERI)
:VERI
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.15Last Year’s EPS
-0.16Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2018
|% Change Since: -27.54%
|Next Earnings Date:Aug 13, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted strategic moves like the divestiture of non-core assets and potential growth in the public sector, alongside significant cost reductions and renewed contracts. However, these positive aspects were balanced by a notable decline in revenue and ongoing net losses, particularly in the commercial enterprise sector.Company Guidance
During the Veritone Q3 2024 earnings call, the company provided guidance indicating a strategic shift following the divestiture of their legacy media agency business, Veritone One, for up to $104 million. This move is expected to streamline operations and focus the company on high-growth AI software and services, with projections of fiscal 2025 revenue between $107 million and $122 million, representing a potential growth of 22% year-over-year at the midpoint. The public sector is anticipated to drive significant growth, with expectations of a 100% to 150% increase over the prior year, while commercial enterprise contracts are also set to expand, notably highlighted by a potential $20 million multi-year deal. The company aims to achieve cash flow profitability by 2026, supported by a leaner operating structure following over $40 million in cost savings executed since 2023.Successful Divestiture of Veritone One
Veritone executed an agreement for the divestiture of its legacy media agency business, Veritone One, in a transaction valued at up to $104 million. This streamlines operations and focuses on AI, strengthening the financial foundation and reducing debt servicing.
Public Sector Growth Potential
The public sector vertical is expected to grow significantly, with projections of 100% to 150% year-over-year growth driven by the iDEMS applications and a growing pipeline exceeding $110 million.
Strategic Partnerships and Renewals
Veritone extended a multiyear SaaS agreement with iHeartMedia and renewed contracts with ESPN and other notable brands, showing the increasing value and stickiness of its AI solutions.
Improved Revenue Base Diversification
No single customer accounted for more than 5% of consolidated revenue in Q3 2024, demonstrating successful efforts to diversify the revenue base.
Cost Reduction and Efficiency Improvements
Since 2023, Veritone executed over $40 million in annualized cost savings, including a 15% global workforce reduction, positioning the company for future growth.
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VERI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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VERI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $3.74 | $2.84 | -24.06% |
| Aug 08, 2024 | $2.69 | $2.36 | -12.27% |
| May 07, 2024 | $3.33 | $3.73 | +12.01% |
| Mar 12, 2024 | $1.71 | $2.17 | +26.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Veritone (VERI) report earnings?
Veritone (VERI) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Veritone (VERI) earnings time?
Veritone (VERI) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VERI EPS forecast?
VERI EPS forecast for the fiscal quarter 2024 (Q4) is -0.15.
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