Business
Veritone Reports First Quarter 2025 Results
– Q1 Total Revenue of $22.5 Million, in line with outlook from preliminary results – – Total ARR (SaaS and Consumption) of $58.7 Million from 3,156 Total
About this update from Veritone, Inc.
[{"type":"text","content":"\n– Q1 Total Revenue of $22.5 Million, in line with outlook from preliminary results –\n\n– Total ARR (SaaS and Consumption) of $58.7 Million from 3,156 Total Software Products & Services Customers, including ARR (SaaS) of $47.5 Million or 81% from Subscription-based Customers –\n\n– Q1 Total New Bookings of $15.8 Million, up 22% Year over Year –\n\n– Veritone Data Refinery “VDR” exited the quarter with a qualified and near-term pipeline of over $10.0 Million, up from $5.0 Million in March 2025 –\n\n DENVER--(BUSINESS WIRE)--\nVeritone, Inc. (NASDAQ: VERI), a leader in building human-centered enterprise AI solutions, today announced results for the first quarter ended March 31, 2025.\n\nPresident and Chief Executive Officer Ryan Steelberg commented, \"Veritone delivered solid topline performance in the first quarter of 2025, and continues with strong momentum into Q2, highlighting the (i) stabilization of our business, (ii) our improved financial condition following the completion of previously announced strategic transactions, and (iii) acceleration in the adoption of our Veritone Data Refinery offering.\n\nSteelberg continued, “Our groundbreaking VDR offering has achieved strong early traction, and we expect this to continue. By converting raw data into high-value assets, we're bridging a critical emerging gap in the AI ecosystem and empowering the continued and enhanced training of both large language and multi-modal models powering the next generation of AI, while providing content owners with new opportunities to manage and monetize their data in ways that have previously been out of reach.\"\n\nFirst Quarter 2025 Financial Highlights\n\n\nRevenue of $22.5 million, a decrease of 7% compared to Q1 2024.\n\n\nSoftware Products and Services revenues of $14.5 million, a decrease of $0.7 million or 4.8% year over year, driven primarily by lower consumption across our Commercial Enterprise customer base, foreign exchange rates declines in Europe as compared to the US dollar, and economic and geopolitical factors, offset by higher revenue from VDR.\n\n\nManaged Services revenue of $8.0 million, a decrease of $0.9 million or 10.7% year over year.\n\n\nGAAP gross profit of $13.7 million, a decrease of $2.6 million, or 16.0%, year over year; GAAP gross margin of 61.1% as compared to 67.6% in Q1 2024, as a result of higher depreciatio...