Veritone Posts $75.6M Loss Through Q3 2025 as Cash Burn Accelerates

Veritone, Inc. (NASDAQ: VERI), an artificial intelligence platform provider, reported a net loss of $75.6 million for the nine months ending September 30, 2025, compared with a net loss of $69.2 million in the same period of 2024. The company's loss widened by $6.4 million despite a modest uptick in revenue. Read more earnings reports.

Revenue for the nine-month period reached $72.3 million, up 3.0% from $70.2 million a year earlier. Third-quarter revenue alone totaled $26.6 million, up 21.1% from $22.0 million in the third quarter of 2024.

The company's third-quarter loss deepened to $29.2 million from $21.7 million in the prior-year quarter, a 34.5% deterioration. For the quarter ending September 30, 2025, the operating loss stood at $18.2 million, an improvement from the $22.5 million operating loss reported in the third quarter of 2024.

Cash Position and Burn Rate

Cash from operations consumed $41.2 million during the nine months ending September 30, 2025, nearly doubling the $24.2 million cash burn in the comparable 2024 period. The company reported cash and cash equivalents of $36.2 million as of September 30, 2025, up from $16.9 million at year-end 2024.

The improved cash position came from financing activities, which generated $64.9 million during the nine-month period, a sharp reversal from the $5.9 million net outflow in the prior year. Cash used in investing activities totaled $3.5 million compared with $3.3 million in the year-earlier period.

Balance Sheet and Equity

Total assets stood at $198.6 million as of September 30, 2025, essentially flat from $198.1 million at the end of 2024. Stockholders' equity increased to $15.5 million from $13.5 million at year-end, while total liabilities declined slightly to $183.1 million from $184.6 million.

The company's share count expanded dramatically during 2025. Common shares outstanding reached 70.9 million as of September 30, 2025, up from 40.2 million at year-end 2024, reflecting significant equity raises during the nine-month period.

Operating Costs

Cost of revenue for the nine months totaled $22.6 million, up from $19.6 million in the prior-year period. Research and development expenses declined to $15.6 million from $21.3 million, a 26.8% reduction. Labor and related expenses for the nine-month period fell to $5.1 million from $5.7 million.

Intangible assets decreased to $42.8 million as of September 30, 2025, from $59.5 million at the end of 2024. Goodwill increased marginally to $54.1 million from $53.1 million over the same period.

Per-Share Results

Basic loss per share for the nine months ending September 30, 2025, came to $1.39, an improvement from the $1.83 loss per share in the prior-year period. Third-quarter basic loss per share was $0.45, better than the $0.57 loss reported in the third quarter of 2024.

Weighted average diluted shares outstanding for the nine-month period totaled 54.4 million, up from 37.8 million in the comparable 2024 period, reflecting the dilutive impact of the company's equity raises.