Veritone Signs Cloud Agreement With Oracle, Expects to Swing to 4Q Loss

By Elias Schisgall

Veritone signed a multi-year agreement with Oracle to use Oracle's cloud infrastructure for artificial-intelligence services and said it expects to swing to a loss in the fourth quarter.

The enterprise artificial-intelligence and data company said Thursday that migrating to Oracle Cloud Infrastructure will improve the performance, security, and scalability of its services.

"By migrating and expanding some of our most critical workloads to OCI, we expect to further support our commercial and public sector customers with the performance, security, and scalability they require to stay ahead in an AI-driven world and further scale VDR," Veritone Chief Executive Ryan Steelberg said.

Financial terms of the agreement weren't disclosed.

Veritone also said it expects to report a preliminary fourth-quarter loss of $25.1 million to $37 million, or between 28 cents and 41 cents a share. That compares with a profit of $31.8 million, or 83 cents a share, a year earlier.

Stripping out certain one-time items, the company expects an adjusted loss between $2 million and $13.9 million. Analysts surveyed by FactSet are expecting an adjusted loss of $4.2 million.

The company expects fourth-quarter revenue of $18.1 million to $30 million, compared with $22.4 million a year earlier. Analysts are expecting $34.3 million in revenue.

For the current year, Veritone expects revenue of $130 million to $145 million, with an adjusted loss of $13.5 million to $22.5 million.

Analysts are expecting full-year revenue of $109.9 million and an adjusted loss of $16.5 million.

Veritone shares rose 15% to $3.00 in after-hours trading Thursday after closing down 3% at $2.61. At close, the stock had fallen 49% over the past six months.

Write to Elias Schisgall at elias.schisgall@wsj.com

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March 26, 2026 17:22 ET (21:22 GMT)