- Veritone (NASDAQ:VERI) is up 4% after hours following its fourth-quarter earnings, where it produced record revenue and trimmed losses with broad business gains.
- Revenues jumped nearly 35% to $16.8M, and gross profit rose 43% to $12.7M, driven largely by growth in aiWARE SaaS Solutions and Advertising.
- That led to a smaller operating loss: $12.3M, vs. a loss of $14.6M a year ago.
- Non-GAAP net loss meanwhile was $3.9M, improved from a year-ago loss of $8.1M.
- “I am proud to report that we achieved record fourth quarter and full year results and started 2021 with the strongest balance sheet in our history," says CEO/Chairman Chad Steelberg. "We will continue to execute our strategic growth plans, and we expect 2021 full year revenue growth to be in excess of 40% at the high end of our guidance range.”
- Revenue breakout: Advertising, $9.75M (up 49.6%); aiWARE SaaS Solutions, $4.4M (up 53.3%); aiWARE Content Licensing and Media Services, $2.67M (down 12.7%).
- Cash and equivalents were $114.8M as of Dec. 31.
- For Q1, it's guiding to revenue of $17M-$17.5M, and a non-GAAP net loss of $4.4M to $3.9M (a 38% improvement at the midpoint).
- For the full year, it's forecasting revenue of $76M-$81M (with aiWARE SaaS Solutions up 60-65%). Non-GAAP net loss is seen at $18M to $14M (22% improvement at the midpoint).
- Press release