AI company Veritone Inc. said first-quarter revenue was $20.3 million, below analysts’ estimates of $31 million and a 9.8% decrease compared to the same period a year earlier.
The net loss was $19.5 million, little changed from the first quarter of 2025, the Irvine-based company said today (Nasdaq: VERI), while reaffirming its guidance of $130 million to $145 million in 2026 revenue.
CEO Ryan Steelberg said in the earnings statement “we are taking proactive measures to streamline operations and reduce our cost structure through restructuring and AI initiatives, as early as the end of Q2 2026, which reinforce our forecasted operating profitability as early as Q4 2026.”
The shares gained 1.5% to $2 apiece in after-hours trading after closing down nearly 12%. The intraday market cap was $183 million.
