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[8-K] Veritone, Inc. Reports Material Event

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Insights

TL;DR: Quarterly profitability improved but leverage and derivative volatility keep the outlook cautious.

Earnings quality: Core profitability benefited from lower operating costs and a positive spread, yet one-off derivative swings continued to dominate results, underscoring earnings volatility.
Balance sheet: Equity was largely unchanged; repo funding still exceeds six times equity, leaving the REIT sensitive to rate spikes and haircuts.
Cash flow: Operating inflow is encouraging, though dividend coverage remains a concern as payouts exceeded YTD earnings.
Strategic impact: Internalisation appears accretive, cutting annualised G&A by roughly $6–7 million. However, unresolved legal exposure from the termination could offset savings.
Net view: Neutral (rating 0) until derivative risk stabilises and dividends are sustainably covered.

TL;DR: Cost cuts aid Q2, but negative YTD EPS and high leverage temper enthusiasm.

CHMI’s quarterly run-rate now shows positive net interest and servicing income, hinting at a possible earnings inflection. Issuing equity rather than adding debt protects leverage metrics, yet dilutes book value. Preferred dividends of $4.9 million plus a $0.15 common dividend still outstrip retained cash, pressuring future BV if losses persist. The 6× repo leverage is typical for Agency mortgage REITs but leaves limited room for further balance-sheet expansion. Until hedge performance is less erratic and servicing asset marks stabilise, shares may trade close to BV with a yield discount to peers.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 07, 2025

 

 

Veritone, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-38093

47-1161641

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

1615 Platte Street

2nd Floor

 

Denver, Colorado

 

80202

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (888) 507-1737

 

 

(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:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock, par value $0.001 per share

 

VERI

 

The Nasdaq Stock Market LLC

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 2.02 Results of Operations and Financial Condition.

On August 7, 2025, Veritone, Inc. (the “Company”) announced its financial results for the second quarter ended June 30, 2025. The press release issued by the Company in connection with the announcement is attached to this report as Exhibit 99.1.

The information in this Item 2.02 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as may be set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d)
Exhibits:

 

Exhibit Number

 

Description

99.1

 

Press Release of Veritone, Inc. dated August 7, 2025 (furnished pursuant to Item 2.02 and not deemed filed).

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 


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.

 

 

 

 

Date:

August 7, 2025

By:

/s/ MICHAEL L. ZEMETRA

 

 

 

Michael L. Zemetra
Executive Vice President, Chief Financial Officer and Treasurer
(Principal Financial and Accounting Officer)

 


Veritone

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