Overview

• Enterprise AI solutions provider's Q1 revenue fell 10% yr/yr

• Annual recurring revenue rose 9% yr/yr, driven by higher consumption-based spending

• Company reaffirmed 2026 revenue outlook and announced 30% operating expense reduction initiative

Outlook

• Veritone reaffirms 2026 revenue guidance of $130 mln to $145 mln

• Company expects 2026 non-GAAP net loss of $13.5 mln to $22.5 mln

• Veritone expects operating profitability as early as Q4 2026

Result Drivers

• TALENT ACQUISITION WEAKNESS - Software Products & Services revenue declined mainly due to lower revenue from Talent Acquisition solutions

• INFLUENCER ADVERTISING AND CONTENT LICENSING - Managed Services revenue fell, led by lower influencer-based advertising and content licensing amid a more challenging macro environment

• PUBLIC SECTOR GROWTH - Public sector revenue increased 69% yr/yr, reflecting expanded deployments and new contracts

Company press release: ID:nBwdK9Xca

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue		$20.26 mln	$25.54 mln (2 Analysts)
Q1 Net Income		-$19.51 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for Veritone Inc is $9.00, about 303.6% above its May 11 closing price of $2.23

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