Veritone (VERI) stock surged about 54% in Tuesday’s extended trading session, as the enterprise artificial intelligence (AI) solutions provider announced major contract wins to deploy its Veritone Data Refinery (VDR) product with leading hyperscalers. The company also provided an updated Q3 outlook.
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Veritone Highlights Major Contract Wins
Veritone highlighted that its VDR solution is now being deployed across many hyperscalers and venture-backed model developers. The company believes that these deals with hyperscalers highlight accelerated momentum in its offerings, which help in transforming proprietary, unstructured data into actionable, license-ready intelligence for generative AI development.
Veritone CEO Ryan Steelberg stated that the company is being viewed as “a trusted partner for the unstructured training data ecosystem.” He added that Veritone is “firmly on track to have formalized partnerships with nearly every major hyperscaler by the end of 2025.”
With these recent VDR contract wins, Veritone highlighted that its near-term VDR pipeline and recent bookings have increased to $40 million, reflecting a 100% jump from August 2025.
VERI Updates Q3 Outlook
Veritone now expects its Q3 2025 revenue to be in the range of $28.5 million to $28.7 million. The midpoint of this forecast reflects a 30.5% year-over-year growth in the company’s Q3 revenue. In August, the company had guided for Q3 revenue in the range of $28 million to $30 million.
Meanwhile, Veritone expects adjusted Q3 net loss in the range of $5.5 million to $6.0 million. The midpoint of this guidance reflects a 48.2% improvement from the adjusted net loss from continuing operations in Q3 2024. The updated Q3 net loss estimate is better than the company’s previous outlook in the range of $6.0 million to $6.5 million.
Is VERI a Good Stock to Buy?
Currently, Veritone stock scores Wall Street’s Strong Buy consensus rating based on three Buys and one Hold recommendation. The average VERI stock price target of $10.25 indicates about 88% upside potential. As of the end of Tuesday’s regular trading session, VERI stock has jumped 66.5% year-to-date.
