Veritone's (VERI) shares were up 5% in recent premarket activity Thursday after the company revised its outlook for Q2 and said it is implementing certain cost and restructuring initiatives aiming to improve its financial condition.
For Q2, the AI-solutions company is now projecting an adjusted non-GAAP net loss between $8.5 million to $8.0 million, compared to prior outlook of $9.0 million to $8.0 million. Q2 revenue is now expected to be between $23.5 million to $24.0 million, from a prior outlook of $23.0 million to $25.0 million.
Four analysts polled by FactSet are looking for a Q2 net loss of $9.0 million and revenue of $23.6 million.
The company reaffirmed its non-GAAP net loss and revenue guidance for fiscal 2025, expecting a full-year non-GAAP net loss of between $30 million to $20 million, and revenue of $104 million to $115 million. Four analysts surveyed by FactSet expect a full-year non-GAAP net loss of $28.4 million, on revenue of $105.2 million.
Veritone added cost cuts are expected to generate annualized savings of up to $10.0 million, and provide a clearer pathway to profitability as early as the H2 2026. The company said it expects to incur costs and expenses of between $0.5 million to $0.7 million related to one-time severance, transition, and termination-related costs.
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