Veritone, Inc.

Veritone, Inc. has filed an amendment to its previously announced restructuring plan, providing estimated costs. The company now expects to incur total charges of $4.6 million to $5.3 million, comprising $3.9 million to $4.5 million for employee transition and severance, and $0.7 million to $0.8 million for exit costs related to third-party agreements. Veritone has already incurred $4.5 million of these costs through June 30, 2026, with the remainder anticipated by mid-2027.

Veritone, Inc. reported a net loss of $22.16 million for Q2 2026 and $41.67 million for the six months ended June 30, 2026. The company's financial statements include a "going concern" warning due to projected cash needs, current liquidity, and the upcoming maturity of $45.47 million in Convertible Notes in November 2026. Veritone also initiated a restructuring plan in June 2026, including a workforce reduction of at least 25%, aiming for $11.3 million in annualized cost savings.

Veritone announced its second quarter 2026 financial results, reporting total revenue of $24.3 million, a 4.6% increase from the prior year, and a net loss of $22.2 million, which improved by 16.4% year-over-year. The company also completed the first phase of its restructuring, achieving $11.3 million in annualized cost reductions, with plans for further reductions. Veritone provided a full-year 2026 revenue outlook of $100 million to $115 million and targets operating profitability as early as the first half of 2027.

Veritone, Inc. announced that its President, Chief Executive Officer, and Chairman of the Board, Ryan Steelberg, voluntarily reduced his annual salary by 50%. Effective July 14, 2026, his salary decreased from $665,000 to $332,500. This action was taken to support the company's ongoing cost reduction initiatives and the realignment of its business and operating cost structure.

Veritone, Inc. announced that its stockholders approved several key proposals at the Annual Meeting held on July 7, 2026. These approvals include an amendment to increase the number of authorized shares of Common Stock from 150,000,000 to 225,000,000, and an amendment to the 2023 Equity Incentive Plan to authorize an additional 3,000,000 shares for issuance. Stockholders also re-elected two directors, ratified the independent auditor, and approved executive compensation and RSU awards for the CEO.

Veritone, Inc. announced a restructuring plan on June 1, 2026, initiating a workforce reduction on June 10, 2026, and cutting third-party operating costs. These actions aim to reduce operating expenses by up to 30% and will impact at least 25% of the company's workforce. The company expects to achieve an annualized reduction of up to 30% in operating expenses by Q3 2026, though specific costs associated with the plan are not yet estimable.

Veritone, Inc. announced its 2026 Annual Meeting of Stockholders to be held virtually on July 7, 2026. Stockholders will vote on several key proposals, including the election of two Class III directors, the ratification of CBIZ CPAs P.C. as the independent auditor, and an advisory vote on executive compensation. Significant corporate actions proposed include increasing the number of authorized common stock from 150,000,000 to 225,000,000 shares, approving a second amendment to the 2023 Equity Incentive Plan, and approving CEO Strategic Awards.

Veritone, Inc. entered into a sales agreement with UBS Securities LLC, Needham & Company, LLC, and Craig-Hallum Capital Group LLC to offer and sell up to $50.0 million of its common stock through an "at-the-market" equity offering. The sales will be made under the company's effective Form S-3 registration statement and a related prospectus supplement. Sales agents will receive up to 3.0% of the gross sales price, and the company is not obligated to sell any shares.

Veritone, Inc. reported a net loss of $19.51 million for Q1 2026, a slight improvement from $19.88 million in Q1 2025, while revenue decreased by 9.8% to $20.26 million. The company disclosed substantial doubt about its ability to continue as a going concern, primarily due to a working capital deficit of $45.81 million and the upcoming maturity of $45.58 million in Convertible Notes in November 2026. Management is actively seeking alternative financing to address these liquidity challenges.

Veritone, Inc. announced its first quarter 2026 financial results, reporting total revenue of $20.3 million, a 9.8% decrease year over year, and a net loss of $19.5 million, which improved by 1.8% from Q1 2025. Despite the revenue decline, Annual Recurring Revenue (ARR) grew 9.4% to $64.2 million, driven by a 69% increase in Public Sector Revenue and 50% growth in consumption-based ARR. The company highlighted significant progress in its Veritone Data Refinery (VDR) with a pipeline exceeding $68.0 million, new contracts with Google and NVIDIA, and a strategic agreement with Oracle, while also reaffirming its full-year 2026 revenue guidance of $130 million to $145 million and announcing a 30% operating expense reduction initiative aimed at achieving operating profitability by Q4 2026.