Free cash flow remains deeply negative with a -59.4% margin in 2026Q1, highlighting a persistent inability to fund operational requirements through internal cash generation.
| Cash from Operations | -47.66M | -53.2M | -24.72M | -76.42M | 3.74M | 7.23M | 1.43M | -30.12M | -38.45M | -31.91M | -26.75M | 2.4M | 12.83M |
| Operating CF Margin % | - | -57.71% | -26.69% | -76.43% | 2.5% | 6.27% | 2.48% | -60.66% | -142.15% | -221.4% | -300.25% | 17.25% | 164.41% |
| Operating CF Growth % | -2740.34% | -115.2% | 67.65% | -2144.98% | -48.34% | 404.82% | 104.76% | 21.67% | -20.49% | -19.27% | -1213.4% | -81.28% | - |
| Net Income | -111.36M | -110.5M | -96.33M | -58.63M | -25.56M | -64.67M | -47.88M | -62.08M | -61.1M | -59.6M | -26.98M | -6.21M | -4.21M |
| Depreciation & Amortization | 26.01M | 27.2M | 29.34M | 27.66M | 23.55M | 9.41M | 6.41M | 5.95M | 3.7M | 254K | 151K | 57K | 31.28K |
| Stock-Based Compensation | 3.3M | 6.7M | 7.71M | 10.95M | 0 | 40.06M | 19.54M | 20.66M | 15.49M | 16.09M | 1.73M | 127K | 101.12K |
| Deferred Taxes | -250K | 0 | -4.89M | -4.98M | -1.56M | -45K | 0 | -1.48M | 0 | 8.91M | -450K | 0 | 0 |
| Other Non-Cash Items | 27.34M | 20.7M | 38.58M | -29.4M | -20.96M | 15.35M | 403K | 35K | 50K | 3.74M | 3.76M | 500K | 14.69M |
| Working Capital Changes | 7.32M | 2.7M | 880K | -22.03M | 28.27M | 7.13M | 22.96M | 6.8M | 3.41M | -1.31M | -4.97M | 7.93M | 2.22M |
| Change in Receivables | 6.54M | -5.69M | 948K | -2.99M | 34.5M | -56.04M | -3.69M | 7.74M | -15.58M | -2.96M | 1.26M | -2.77M | 1.31M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.23M | -4.15M | -996K | 5.97M | 2.99M | 0 |
| Change in Payables | -762K | 5.36M | -5.46M | -5.45M | -10M | 17.9M | -1.38M | -11.72M | 11.1M | 1.02M | -9.19M | 8.48M | 0 |
| Cash from Investing | -4.16M | -4.98M | -1.61M | -54.88M | -12.1M | -53.84M | -119K | 11.96M | 12.15M | -44.33M | -137K | -494K | 2.78M |
| Capital Expenditures | -4.16M | -4.98M | -6.1M | -5.12M | -4.76M | -1.02M | -175K | -770K | -4.29M | -4.48M | -37K | -494K | -69.04K |
| CapEx % of Revenue | 4.62% | 5.4% | 6.58% | 5.12% | 3.18% | 0.88% | 0.3% | 1.55% | 15.85% | 31.07% | 0.42% | 3.55% | 0.88% |
| Acquisitions | 0 | 0 | 4.65M | -49.76M | -4.59M | -52.83M | 0 | -883K | -9.56M | 0 | 0 | 0 | 2.84M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | -160K | 0 | 0 | 0 | 56K | -770K | -570K | -779K | -100K | -472K | 0 |
| Cash from Financing | 51.08M | 69.42M | -37.06M | 26.33M | -61.93M | 186.51M | 69.44M | 24.61M | 34.29M | 93.7M | 19.77M | -1.46M | 16.53M |
| Debt Issued (Net) | -77.89M | -79.83M | -36.32M | 40M | -39.03M | 176.33M | 0 | 0 | 0 | 8M | 20M | 0 | 0 |
| Equity Issued (Net) | 135.32M | 155.25M | 4.5M | 1.06M | 1.35M | 10.18M | 66.28M | 23.85M | 32.77M | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.46M | 0 |
| Other Financing | -6.35M | -5.99M | -5.24M | -14.73M | -24.25M | 0 | 3.16M | 764K | 1.52M | 85.7M | -227K | -1.46M | 16.53M |
| Net Change in Cash | -6.14M | 10.4M | -62.99M | -104.98M | -70.3M | 139.91M | 70.75M | 6.46M | 7.99M | 17.47M | -7.12M | 450K | 32.14M |
| Free Cash Flow | -51.81M | -58.18M | -30.82M | -81.54M | -1.03M | 6.22M | 1.26M | -30.89M | -42.73M | -36.39M | -26.79M | 1.91M | 12.76M |
| FCF Margin % | -57.58% | -63.11% | -33.27% | -81.55% | -0.69% | 5.39% | 2.18% | -62.21% | -158% | -252.47% | -300.66% | 13.71% | 163.52% |
| FCF Growth % | 16.64% | -88.78% | 62.2% | -7832% | -116.53% | 394.28% | 104.07% | 27.72% | -17.44% | -35.82% | -1503.46% | -85.04% | - |
| FCF per Share | -0.56 | -0.92 | -0.81 | -2.21 | -0.03 | 0.19 | 0.05 | -1.42 | -2.43 | -3.52 | -3.95 | 0.15 | 7.50 |
| FCF Conversion (FCF/Net Income) | 0.47x | 0.48x | 0.66x | 1.30x | -0.15x | -0.11x | -0.03x | 0.49x | 0.63x | 0.54x | 0.99x | -0.39x | -3.05x |
| Interest Paid | 0 | 0 | 11.37M | 2.63M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 8.31M | 11.93M | 5.28M | 0 | 0 | 69K | 14K | 6K | 6K | 13K | 6K | 0 |
Insufficient liquidity for operations
As reported in financial statements, Veritone's operating cash flow frequently diverges from net income, with the 2025Q2 period showing an OCF/NI ratio of 0.31, underscoring the difficulty in translating accounting losses into meaningful cash generation while managing high variable costs.
The consistent gap between net income and operating cash flow suggests that non-cash charges and working capital volatility are masking the underlying cash burn. Investors should monitor whether this conversion inefficiency is a structural byproduct of the company's reliance on third-party compute costs that must be settled in cash.
Based on Veritone's reported figures, the free cash flow trajectory remains deeply negative, reaching a -59.4% FCF margin in 2026Q1, which highlights the company's inability to fund its operational requirements through internal cash generation alone.
The persistent negative FCF trend suggests that the company is currently unable to achieve the scale necessary to cover its R&D and infrastructure overhead. This trajectory warrants further investigation into how long the current cash runway can sustain operations without requiring dilutive financing.
According to recent SEC filings, Veritone's working capital changes have been highly erratic, swinging from a $15.6 million inflow in 2024Q3 to a $8.0 million outflow in 2025Q3, indicating significant instability in the company's cash conversion cycle.
Such fluctuations in working capital suggest that the company may be struggling to manage the timing of its receivables and payables effectively. This volatility appears to be a primary driver of the unpredictable quarterly cash flow results, complicating the assessment of the firm's core liquidity.
Data from the cash flow statement reveals that stock-based compensation and depreciation charges are significant non-cash items, with depreciation and amortization consistently exceeding $5 million per quarter, which obscures the true economic cost of maintaining the company's AI orchestration platform.
The reliance on stock-based compensation to preserve cash may be masking the true cost of talent acquisition in a competitive AI labor market. Analysts should interpret these adjustments with caution, as they may be deferring necessary cash outflows while failing to improve the company's underlying profitability.
Quick answers to the most common questions about buying VERI stock.
Veritone, Inc. (VERI) generated $-53.2M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Veritone, Inc. (VERI) reported negative free cash flow of $58.2M in 2025, indicating capital requirements exceeded cash from operations.
Veritone, Inc. (VERI) spent $5.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.