| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 24.26 | 19.7% | 1.0% |
| Total Income | 24.26 | 19.7% | 1.0% |
| Expenditure | 46.40 | 16.9% | 7.1% |
| PBT | -22.47 | 11.7% | 13.3% |
| Net Profit | -22.16 | 13.6% | 17.3% |
| OPM | -91.23% | 4.64pp | 10.79pp |
| NPM | -91.33% | 4.96pp | |
| EPS | -0.24 | 14.3% | 55.6% |
Veritone Reports Q2 2026 Results: Revenue Up 5% YoY to $24.3 Million, Provides Update on Cost Reductions
14 Aug 2026 · 14 Aug, 1:54 am
Summary
Veritone announced its second quarter 2026 financial results, with total revenue reaching $24.3 million, a 5% increase year-over-year, driven by growth in Managed Services. The company also reported progress on its cost reduction initiatives, completing the first phase of restructuring which yielded $11.3 million in annualized savings. Management expressed confidence in the company's strategic positioning, with plans for further cost reductions and a focus on achieving operating profitability as early as the first half of 2027.
Key Highlights
- 1
Veritone reported second quarter revenue of $24.3 million, an increase of 5% compared to Q2 2025.
- 2
Annual Recurring Revenue (ARR) stood at $62.0 million, showing a modest year-over-year increase.
- 3
Software Products and Services revenues increased by 0.5% year over year to $16.7 million.
- 4
Managed Services revenue saw a significant increase of 15.2% year over year, reaching $7.5 million.
- 5
The company completed the first phase of its restructuring, achieving $11.3 million in annualized cost reductions, representing approximately 11% of annual operating expenses.
- 6
Veritone is targeting additional cost reductions of $3.5 million to $8.5 million by year-end 2026, aiming for total annualized operating expense reductions of 15% to 20%.
Management Comments
Ryan Steelberg
During the second quarter, we executed decisively against our strategic priorities, completing the first phase of our restructuring and cost initiatives while continuing to build strong momentum across our highest-growth opportunities. We are converting VDR opportunities into large commercial deployments and expanding our public sector footprint while meaningfully lowering our operating cost structure and continuing to invest in our highest-growth opportunities. With additional cost reduction actions planned through year-end and into 2027, and a strong pipeline ahead, we believe Veritone is strongly positioned to achieve operating profitability as early as the first half of 2027.
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