Veritone
VERI on Nasdaq. Market value $73m.
Should I look at this?
Look carefully before going further
Why it could be worth it
Nothing stands out yet.
What to watch out for
Read the warning sign in its own filings
This is not advice.
Who owns it
None of the long-term investors we follow own it. 90 funds in all.
Sold out this quarter
- Royce & AssociatesChuck RoyceSold out
Largest holders overall
- BlackRock$9mAdded
- Vanguard Capital Management$5m
- Banta Asset Management LP$4mAdded
- Geode Capital Management$3mAdded
- Silvercrest Asset Management Group$3mAdded
- UBS Group AG$2mAdded
- State Street$1mAdded
- Citadel Advisors$1mAdded
- TWO Sigma Investments, LP$929,087Cut
- Vanguard Portfolio Management$920,522Added
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Esousa Group Holdings LLCPassive investorat least 10.0%0.0 pts(filed with 1 related holder)Since 30 June 2025
- BlackRock, Inc.Passive investor7.1%Since 30 June 2026
- Ryan SteelbergInsider or founder6.5%−0.2 ptsSince 14 July 2026
- DAVIDSON KEMPNER CAPITAL MANAGEMENT LPPassive investorat least 2.9%(filed with 3 related holders)Since 16 October 2025
- BANTA ASSET MANAGEMENT LPPassive investorSold down below 5%Since 31 December 2024
- PRIVATE MANAGEMENT GROUP INCPassive investorSold down below 5%Since 30 September 2025
| Holder | Stake | Since | |
|---|---|---|---|
Esousa Group Holdings LLC Passive investor | at least 10.0%0.0 pts (filed with 1 related holder) | 30 June 2025 | |
BlackRock, Inc. Passive investor | 7.1% | 30 June 2026 | |
Ryan Steelberg Insider or founder | 6.5%−0.2 pts | 14 July 2026 | |
DAVIDSON KEMPNER CAPITAL MANAGEMENT LP Passive investor | at least 2.9% (filed with 3 related holders) | 16 October 2025 | |
BANTA ASSET MANAGEMENT LP Passive investor | Sold down below 5% | 31 December 2024 | |
PRIVATE MANAGEMENT GROUP INC Passive investor | Sold down below 5% | 30 September 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $126,637 of shares on the open market.
- Steelberg RyanPRESIDENT AND CEO, DirectorBought
- Date
- 21 August 2026
- Shares
- 148,810
- Price
- $0.85
- Value
- $126,637
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 21 August 2026 | Steelberg Ryan PRESIDENT AND CEO, Director | Bought | 148,810 | $0.85 | $126,637 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
3 serious warning signs in Veritone’s filings.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 15 Apr 2026, plus the 10-Q filed 13 Aug 2026 and 9 later 8-Ks.
Doubt it can keep going
SeriousThe company or its auditor warned it may not have enough money to last the next year.
“However, due to the Company’s projected cash needs combined with its current liquidity level and history of net losses and cash used to fund operating activities, there is substantial doubt regarding its ability to continue as a going concern for a period of at least one year from the date of issuance of these consolidated financial statements.”
From the 10-Q filed 13 August 2026, Part I, Item 1. Financial Statements. Read it in the filing
Weak checks on its own accounts
SeriousThe company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.
“Based on this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as of June 30, 2026, our disclosure controls and procedures were not effective at the reasonable assurance level due to the following material weaknesses in internal control over financial reporting.”
Show the full paragraph
Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act as of June 30, 2026. Our disclosure controls and procedures are designed to provide reasonable assurance of achieving their objectives of ensuring that information we are required to disclose in the reports we file or submit under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to enable timely decisions regarding required disclosures, and is recorded, processed, summarized, and reported within the time periods specified in the rules and forms promulgated by the SEC. Our management recognizes that any disclosure controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives, and there is no assurance that our disclosure controls and procedures will operate effectively under all circumstances. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as of June 30, 2026, our disclosure controls and procedures were not effective at the reasonable assurance level due to the following material weaknesses in internal control over financial reporting.
From the 10-Q filed 13 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing
Its past accounts can't be relied on
SeriousIt told the SEC its earlier accounts should no longer be relied on, usually because they contained errors.
8-K Item 4.02 filed 14 Apr 2026: the company said its earlier financial statements should no longer be relied on.
From an 8-K filed 14 April 2026: Previously issued accounts should no longer be relied on. Open the filing
Changed auditor
Worth knowingThe company changed its auditor (the firm that checks its books) in the last two years.
“Veritone, Inc. (the “Company”) has dismissed Grant Thornton LLP (“Grant Thornton”), an independent registered public accounting firm, as its principal accountant.”
From an 8-K filed 28 April 2026: Change of auditor. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.