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- **Revenue Surge**: Q3 2025 revenue up 32% YoY to $29.1 million, driven by 55% growth in AI-driven software products.
- **Debt Restructuring**: Annual debt service reduced by 94% to $0.8 million via $77.5 million debt payoff.
- **VDR Momentum**: $40 million+ pipeline, 100%+ QoQ growth, targeting all major hyperscalers by end-2025.
- **Profitability Path**: 2026 profitability goal with Q4 non-GAAP net loss of $1.5-$5 million (66% YoY improvement).
- **Market Leadership**: Unique position as both data supplier and buyer, generating 100+ trillion tokens annually.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue of $29.1 million, up 32% YoY, driven by 55% growth in software products and services (excluding Veritone Hire). VDR bookings exceeded $40 million, up 100% QoQ.
- **Balance Sheet Strength**: Retired $3.6 million term debt and repurchased 50% of convertible debt, reducing annual debt service from $14 million to $0.8 million.
- **Strategic Focus**: AIware platform generates 100+ trillion tokens annually. VDR monetizes unstructured data for hyperscalers, with pipeline spanning $13.5T global tokenized asset market by 2030.
- **Market Expansion**: Signed 27 new commercial agreements (e.g., CBS, ESPN), 82 public sector contracts, and 30 new agencies. International pipeline exceeds $28 million.

**【CFO Financial Commentary】**
- **Q3 Financials**: Non-GAAP net loss of $5.8 million (50% improvement YoY). GAAP gross profit $18.7 million (30% YoY growth). VDR gross margins ~40%, offsetting one-time high-margin software revenue.
- **Liquidity**: Post-debt payoff, cash of $34 million supports 12-month operations. Q4 2025 revenue guidance: $33.4-$39.4 million (63% YoY growth at midpoint).
- **Future Outlook**: 2026 profitability target. Q4 non-GAAP net loss projected at $1.5-$5 million (66% YoY improvement). FY2025 revenue guidance: $109-$115 million (22% YoY growth).

**【Q&A Highlights】**
- **Q4 Revenue Drivers**: VDR pipeline growth, public sector deal timing, and federal shutdown impact. CEO confident in hitting high end of guidance.
- **VDR Go-To-Market**: Expanding sales force to target both buy-side (hyperscalers) and sell-side (content providers). 100%+ growth in VDR bookings QoQ.
- **Public Sector Challenges**: Federal shutdown delays, but non-federal public sector growth offsetting. Q4 public sector revenue expected +50% YoY.
- **Veritone Hire Strategy**: Stable cash flow contributor; no immediate changes planned despite macro hiring softness.
- **2026 Seasonality**: Expect continued VDR and public sector growth, with potential for front-loaded revenue due to large deal timing.

Veritone, Inc. (VERI) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

VERI

VERI fundamentals

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