Veritone (VERI) projects up to $5.3M in workforce and contract exit costs
Rhea-AI Filing Summary
Veritone, Inc. approved a restructuring plan that includes a workforce reduction and reductions in certain third-party operating costs. The company now estimates it will incur $3.9 million to $4.5 million of employee transition costs, severance payments and related benefits, and $0.7 million to $0.8 million of exit costs related to terminating or renegotiating certain third-party operating agreements.
Veritone reports that it has incurred $4.5 million of these restructuring-related costs through June 30, 2026, recorded as restructuring charges for the three and six months ended June 30, 2026. The company expects to incur the remaining costs through the first half of 2027, and states that the ultimate amount and timing of total costs and charges under the plan may vary based on final workforce reductions and third-party agreement changes.
Positive
- None.
Negative
- None.
Filing Explained
This amendment updates Veritone’s earlier restructuring disclosure: after previously stating it could not make a good-faith cost estimate, the company now reports ranges of
8-K Event Classification
Item 2.05 — Costs Associated with Exit or Disposal Activities
1 item
Item 2.05
Costs Associated with Exit or Disposal Activities
Financial
The company committed to an exit plan involving layoffs, facility closures, or restructuring charges.
Key Figures
Employee-related restructuring costs: $3.9 million to $4.5 million
Exit costs for third-party agreements: $0.7 million to $0.8 million
Restructuring costs incurred to date: $4.5 million
+3 more
6 metrics
Employee-related restructuring costs
$3.9 million to $4.5 million
Estimated employee transition, severance and related benefits under the restructuring plan
Exit costs for third-party agreements
$0.7 million to $0.8 million
Estimated costs to terminate or renegotiate certain third-party operating agreements
Restructuring costs incurred to date
$4.5 million
Costs incurred through June 30, 2026, recorded as restructuring charges
Expected completion window
First half of 2027
Period over which remaining restructuring-related costs are expected to be incurred
Plan decision date
June 1, 2026
Date Veritone decided to implement the restructuring plan
Workforce reduction initiation date
June 10, 2026
Date the workforce reduction under the restructuring plan was initiated
Key Terms
restructuring plan, workforce reduction, exit costs, forward-looking statements, +1 more
5 terms
restructuring plan financial
"decision made on June 1, 2026, to implement a restructuring plan (the “Plan”)"
A restructuring plan is a company’s roadmap for reorganizing its operations, debts, or assets to improve financial health and efficiency; think of it as rewriting a household budget and chores when income changes. Investors care because the plan can affect a company’s ability to repay loans, generate profits, and sustain growth—successful restructuring can restore value, while a poorly executed one can signal continued trouble or reduced returns.
workforce reduction financial
"includes a workforce reduction that was initiated on June 10, 2026"
exit costs financial
"$0.7 million to $0.8 million of exit costs associated with the termination"
forward-looking statements regulatory
"contains “forward-looking statements” within the meaning of the safe harbor provisions"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995"
FAQ
What restructuring costs did Veritone (VERI) estimate in its amended Form 8-K?
Veritone estimated $3.9–$4.5 million in employee transition, severance and benefits, plus $0.7–$0.8 million in exit costs tied to terminating or renegotiating third-party operating agreements under its restructuring plan.
How much restructuring expense has Veritone (VERI) already incurred under the plan?
Veritone reports it has incurred $4.5 million of restructuring-related costs through June 30, 2026. These amounts were recorded as restructuring charges for both the three and six months ended June 30, 2026.
What actions are included in Veritone’s (VERI) restructuring plan?
The restructuring plan includes a workforce reduction, initiated June 10, 2026, and a reduction in certain third-party operating costs through termination or renegotiation of those agreements.
Why did Veritone (VERI) file this amended Form 8-K/A?
The amendment provides estimated cost ranges for major types of charges under Veritone’s restructuring plan. In the original filing, the company could not yet make good faith estimates of these restructuring-related costs.
How does Veritone (VERI) characterize the forward-looking information in this 8-K/A?
Veritone identifies certain statements as forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995 and cautions that actual results may differ due to various factors described in its Form 10-K and Form 10-Q.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 10, 2026
(Exact name of registrant as specified in its charter)
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.05 Costs Associated with Exit or Disposal Activities
On June 10, 2026, Veritone, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Original 8-K”) with the Securities and Exchange Commission disclosing the Company’s decision made on June 1, 2026, to implement a restructuring plan (the “Plan”), which includes a workforce reduction that was initiated on June 10, 2026, and a reduction in certain third-party operating costs. At the time of filing the Original 8-K, the Company was unable to make a good faith estimate or range of estimates of the costs and charges it would incur in connection with these actions. This Amendment to Current Report on Form 8-K/A amends the Original 8-K to include estimates for the major types of costs associated with the Plan.
Except as described below, all other information in the Original 8-K remains unchanged and this Form 8-K/A should be read in conjunction with the Original 8-K.
The Company now estimates it will incur the following charges in connection with the Plan, including reorganization and other related costs:
● $3.9 million to $4.5 million of employee transition costs, severance payments and related benefits; and
● $0.7 million to $0.8 million of exit costs associated with the termination or renegotiation of certain third-party operating agreements.
The Company has incurred $4.5 million of these costs through June 30, 2026, which were recorded as restructuring charges for the three and six months ended June 30, 2026. The Company expects to incur the remainder of these costs through the first half of 2027. The ultimate amount and timing of total costs and charges in connection with the Plan may vary due to a variety of factors, including the finalization of workforce reductions and the termination or renegotiation of third-party agreements.
Note Regarding Forward-Looking Statements
This Current Report on Form 8-K/A contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “plan,” “should,” “could,” “estimate” or “continue” or the plural, negative or other variations thereof or comparable terminology are intended to identify forward-looking statements, and any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Such statements may include, but are not limited to, statements regarding the Company’s intent and objectives with respect to the Plan, the number of employees expected to be impacted by the Plan, the expected timing for completion of the workforce reduction and the Plan, respectively, the amount, nature, source and timing of charges incurred related to the Plan and the annualized reduction in operating expenses that the Company expects to achieve upon completion of the Plan. These forward-looking statements speak only as of the date hereof, and are based on management’s current assumptions, beliefs and information. As such, the Company’s actual results could differ materially and adversely from those expressed in any forward-looking statement as a result of various factors. Important factors that could cause such differences include those factors discussed in the Company’s most recent Annual Report on Form 10-K, as amended, and the Company’s most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the Company’s expectations, objectives or plans will be achieved. The forward-looking statements contained herein reflect the Company’s beliefs, estimates and predictions as of the date hereof, and the Company undertakes no obligation to revise or update the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events for any reason, except as required by law.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| VERITONE, INC. | ||||||||
| By: | /s/ MICHAEL L. ZEMETRA | |||||||
| Michael L. Zemetra | ||||||||
| Executive Vice President, Chief Financial Officer and Treasurer | ||||||||
| (Principal Financial and Accounting Officer) | ||||||||
Date: August 13, 2026
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