Veritone Implements Cost Restructuring Plan To Accelerate Profitability By Late 2026; To Generate Savings Of Up To $10M

Cost Restructuring Initiatives

Veritone announced today that it has implemented certain cost and restructuring initiatives designed to further streamline the business and improve its financial condition following the completion of previously announced strategic transactions, accelerating its path to profitability. The recent cost reduction initiatives are expected to generate annualized savings of up to $10.0 million, of which over $7.5 million was executed in June 2025, and provide a clearer pathway to profitability as early as the second half of 2026.

Management expects the restructuring will result in a more efficient and effective operating structure to support both near- and longer-term growth initiatives, as well as continued innovation in AI software and solutions. Headcount remains the company's largest cost driver, followed by professional services, which have increased in recent periods due to higher transaction volume and integration efforts.

The Company expects to incur costs and expenses of between $0.5 million to $0.7 million as a result of these reductions primarily related to one-time severance, transition, and termination-related costs. Beyond these expected savings, Veritone will continue to manage its cost structure throughout 2025 to ensure necessary investments are timed with corresponding growth.