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Investing.com -- Veritone Inc (NASDAQ:VERI) stock surged 26.8% in after-hours trading Tuesday following the company’s announcement of significant contract wins for its Data Refinery product with leading hyperscalers and strong preliminary third quarter results.
The AI solutions provider reported that its near-term pipeline and recent bookings for its Veritone Data Refinery (VDR) solution have reached nearly $40 million, doubling since August 2025. The company is now deploying its data transformation technology across an expanding roster of hyperscalers and venture-backed model developers.
Veritone also released preliminary third quarter results showing revenue between $28.5 million and $28.7 million, representing approximately 30.5% growth compared to the third quarter of 2024. However, the company’s Non-GAAP Net Loss for Q3 2025 is expected to be between $5.5 million and $6.0 million, a 48.2% increase from the same period last year.
"Veritone is emerging as a critical partner to many global hyperscalers and the next generation of AI model developers," said Ryan Steelberg, President and CEO of Veritone. "We believe our VDR solution uniquely positions us to serve this fast-growing market, converting massive volumes of video, audio, and text into centralized license-ready datasets for proprietary applications and external AI model training alike."
The company stated it is on track to formalize partnerships with nearly every major hyperscaler by the end of 2025. Veritone’s technology focuses on transforming unstructured data into actionable, license-ready intelligence for AI development, addressing what the company describes as an increasingly strategic and scarce resource in the AI economy.
Veritone will discuss its complete third quarter results during an earnings call scheduled for November 6, 2025. The company noted that the preliminary results are unaudited estimates subject to change until the filing of its Form 10-Q.
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