Rankings Software, cloud & internet Veritone

Veritone

Software, cloud & internet · United StatesRank 691 of 829Prices 2 Nov 2026Model 1.4

15070100

The model found several serious problems. That does not mean the stock will fall.

Biggest deductions

Margin−14
Going concern and convertible loans−8
Capital allocation−7

Strengths

Insider buying+2
Public contracts+1

How the score is built

From 100 to 40, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.

100Start

40Score

Hover or select a step to see what drove it. Steps with findings open them below.

Key numbers

As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.

Price: 0.61 USD
Median analyst target: 5.00 USD
Upside to median: +721.6%
Analysts: 3
Target range: 2.50 – 6.00 USD
52-week change: −90%
P/E (trailing): n/a
Forward P/E: n/a
PEG: n/a

Findings

Every deduction and every plus, with its source. Open a step to read them.

Business

Is the company getting stronger, not just bigger? · 4 findings−30 of −30

Margin
TTM: revenue USD 91.1m, operating profit −77.7m (−85%), net loss −107.0m. Q2 2026: GAAP gross margin fell 9 percentage points to 58.5%, net loss −22.2m, non-GAAP net loss −10.0m (worse than the year before).
sec.gov
−14
Quality of growth
Revenue has been flat at 91-100m since 2023. In Q2 SaaS ARR fell 15% to 43.2m, the number of software customers fell 7.7% to 2,829, and new orders fell 6.8%; only usage ARR (Data Refinery) grew 71% to 18.8m.
sec.gov
−5
Capital allocation
Debt-financed acquisitions (PandoLogic and others) were followed by the divestment of Veritone One, a 'troubled debt restructuring' of the convertibles in November 2025 and a doubling of the share count. The price has fallen from USD 22.48 (2021) to 0.75.
sec.gov
−7
Moat
aiWARE mostly orchestrates third-party models, and the 10-Q itself mentions the risk that partners make the technology free or too expensive. In the public sector (iDEMS/Redact) Veritone competes with Axon, and in data licensing with the big cloud and AI companies.
sec.gov
−4

Price

Today's multiples against the company's own history and its peers. · 2 findings−3 of −35

Multiples vs own history
EV/Sales about 1.2 (EV about 110m after the issue, incl. the convertible debt and pro forma cash) vs 1.3-5.5 in 2022-2025. Low vs history, but the debt matures in a few weeks, and P/B is 1.96 with negative tangible equity (USD -0.53 per share).
stockanalysis.com
−1
Peers
BigBear.ai trades at EV/Sales 7.4 with 319m in cash; Veritone at about 1.2 with net debt. The discount reflects the going concern risk, not a mispricing.
stockanalysis.com
−2

Cracks

Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 6 findings−24 of −35

Going concern and convertible loans
10-Q: 'substantial doubt' about the ability to continue, because USD 45.6m in convertibles matures 15/11-2026 vs cash of 12.4m as of 30/6 and spending of 22.1m in H1. The issue in October (13.8m net) only covers part; the rest must be refinanced, converted or paid with new shares.
sec.gov
−8
Financial restatement and lawsuit
14/4-2026: the Q3 2025 report can no longer be relied upon because revenue was overstated and net loss understated. Material weakness in internal control and class action (Elwan v. Veritone, 21/5-2026) against the company, CEO and CFO for the period 14/10-2025 to 14/4-2026.
sec.gov
−5
Dilution and ATM
The share count has risen from about 51m to 121.6m in a year (+137%): ATM 2025 (11.7m shares), ATM of 50m from May 2026 (5.9m shares at about USD 1.6) and 20m shares at USD 0.75 in October. The number of authorized shares has been raised from 150 to 225m.
sec.gov
−5
Nasdaq listing
The price fell below USD 1 on 1/10-2026. If it stays there for 30 trading days, the company receives a notice (around mid-November) and 180 days to regain USD 1; a reverse split is then likely.
stockanalysis.com
−3
Guidance credibility
Full-year guidance of 100–115m requires 56–71m in H2 versus 44.5m in H1 (+25–60%), while public sector orders are delayed. Management already had a wide revenue range (18–30m) for Q4 2025 before the reversal.
sec.gov
−2
Short interest
18.2m shares sold short = 20.2% of free float (before the issue), 4 days to cover.
stockanalysis.com
−1

Plus

Only documented strengths. · 2 findings+3 of +15

Insider buying
CEO Ryan Steelberg bought 148,810 shares in the market on 21/8-2026 at an average of USD 0.851 (about USD 127,000) and owns about 6.2m shares.
sec.gov
+2
Public contracts
Multi-year contract with the California Highway Patrol for Veritone Redact, five-year agreement with a Washington state agency and agreement with the UK Department for Work and Pensions (Q2 2026). The Data Refinery pipeline is over 65 m USD.
sec.gov
+1

Caveats

What the score does not capture, or where the data is weak.

Price USD 0.749 (2/10-2026) after a fall of 37% from USD 1.19 (30/9), when the company sold 20m shares at USD 0.75 in a registered direct offering (closing about 2/10). The share count after the issue is 121.6m (424B5), so market cap is about USD 91m (about DKK 600m). Stockanalysis' 100.5m shares and Nordnet's DKK 787m are stale. Going concern warning in the 10-Q: USD 45.6m of 1.75% convertible bonds fall due 15/11-2026 vs cash of 12.4m at 30/6 plus about 13.8m net from the issue; the conversion price (about USD 36.76) is far out of the money. ATM program of 50m (May 2026), of which 9.4m sold at 30/6. The Q3 2025 accounts have been restated (revenue overstated), there is a material weakness in internal control and a class action. Analyst price targets (avg. USD 5.38, +618%) are stale after the price fall and the dilution. The stock has just fallen below USD 1; there is as yet no Nasdaq notice.