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Side-by-side financial comparison of NATURAL ALTERNATIVES INTERNATIONAL INC (NAII) and Veritone, Inc. (VERI). Click either name above to swap in a different company.
NATURAL ALTERNATIVES INTERNATIONAL INC is the larger business by last-quarter revenue ($34.8M vs $26.6M, roughly 1.3× Veritone, Inc.). NATURAL ALTERNATIVES INTERNATIONAL INC runs the higher net margin — -7.3% vs -109.8%, a 102.5% gap on every dollar of revenue. On growth, Veritone, Inc. posted the faster year-over-year revenue change (21.1% vs 2.1%). NATURAL ALTERNATIVES INTERNATIONAL INC produced more free cash flow last quarter ($-7.3M vs $-17.1M). Over the past eight quarters, Veritone, Inc.'s revenue compounded faster (39.0% CAGR vs 17.7%).
Natural Alternatives International, Inc. (NAI) is an American company based in Carlsbad, California which manufactures nutritional supplements such as Juice Plus. NAI was founded in 1980 by Mark A. LeDoux, and had 241 employees in 2007. NAI's manufacturing facilities are located in Vista, California, Switzerland and Japan.
Veritone, Inc. is an American artificial intelligence technology company based in Irvine, California founded in 2014. It serves a variety of industries including media, professional sports teams, federal government agencies, energy utilities, and state and local police departments.
NAII vs VERI — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.8M | $26.6M |
| Net Profit | $-2.6M | $-29.2M |
| Gross Margin | 7.2% | — |
| Operating Margin | -5.3% | -68.2% |
| Net Margin | -7.3% | -109.8% |
| Revenue YoY | 2.1% | 21.1% |
| Net Profit YoY | -16.5% | -34.5% |
| EPS (diluted) | $-0.42 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $34.8M | — | ||
| Q3 25 | $37.7M | $26.6M | ||
| Q2 25 | $33.9M | $23.2M | ||
| Q1 25 | $28.8M | $22.5M | ||
| Q4 24 | $34.1M | $22.4M | ||
| Q3 24 | $33.1M | $22.0M | ||
| Q2 24 | $29.5M | $24.1M | ||
| Q1 24 | $25.1M | $24.2M |
| Q4 25 | $-2.6M | — | ||
| Q3 25 | $-291.0K | $-29.2M | ||
| Q2 25 | $-7.2M | $-26.5M | ||
| Q1 25 | $-2.2M | $-19.9M | ||
| Q4 24 | $-2.2M | $31.8M | ||
| Q3 24 | $-2.0M | $-21.7M | ||
| Q2 24 | $-1.9M | $-22.2M | ||
| Q1 24 | $-1.6M | $-25.2M |
| Q4 25 | 7.2% | — | ||
| Q3 25 | 11.7% | — | ||
| Q2 25 | 10.4% | 72.6% | ||
| Q1 25 | 6.3% | — | ||
| Q4 24 | 4.9% | — | ||
| Q3 24 | 6.8% | 71.2% | ||
| Q2 24 | 4.8% | 72.6% | ||
| Q1 24 | 7.6% | 70.8% |
| Q4 25 | -5.3% | — | ||
| Q3 25 | 0.8% | -68.2% | ||
| Q2 25 | -5.7% | -82.0% | ||
| Q1 25 | -7.3% | -96.3% | ||
| Q4 24 | -8.2% | -93.8% | ||
| Q3 24 | -5.5% | -102.3% | ||
| Q2 24 | -8.6% | -84.4% | ||
| Q1 24 | -7.8% | -100.9% |
| Q4 25 | -7.3% | — | ||
| Q3 25 | -0.8% | -109.8% | ||
| Q2 25 | -21.3% | -114.2% | ||
| Q1 25 | -7.6% | -88.5% | ||
| Q4 24 | -6.4% | 141.7% | ||
| Q3 24 | -6.0% | -98.9% | ||
| Q2 24 | -6.4% | -92.4% | ||
| Q1 24 | -6.3% | -104.3% |
| Q4 25 | $-0.42 | — | ||
| Q3 25 | $-0.05 | — | ||
| Q2 25 | $-1.21 | $-0.53 | ||
| Q1 25 | $-0.37 | $-0.41 | ||
| Q4 24 | $-0.37 | $0.85 | ||
| Q3 24 | $-0.33 | $-0.57 | ||
| Q2 24 | $-0.32 | $-0.59 | ||
| Q1 24 | $-0.27 | $-0.67 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.8M | $36.2M |
| Total DebtLower is stronger | — | $35.4M |
| Stockholders' EquityBook value | $67.0M | $15.5M |
| Total Assets | $153.3M | $198.6M |
| Debt / EquityLower = less leverage | — | 2.28× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8M | — | ||
| Q3 25 | $7.7M | $36.2M | ||
| Q2 25 | $12.3M | $13.6M | ||
| Q1 25 | $10.6M | $16.1M | ||
| Q4 24 | $8.7M | $16.9M | ||
| Q3 24 | $10.2M | $11.4M | ||
| Q2 24 | $12.0M | $46.0M | ||
| Q1 24 | $12.4M | $90.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | $35.4M | ||
| Q2 25 | — | $37.3M | ||
| Q1 25 | — | $39.2M | ||
| Q4 24 | — | $41.2M | ||
| Q3 24 | — | $73.6M | ||
| Q2 24 | — | $75.6M | ||
| Q1 24 | — | $77.5M |
| Q4 25 | $67.0M | — | ||
| Q3 25 | $69.0M | $15.5M | ||
| Q2 25 | $68.4M | $3.5M | ||
| Q1 25 | $76.6M | $14.8M | ||
| Q4 24 | $79.1M | $13.5M | ||
| Q3 24 | $80.2M | $-25.2M | ||
| Q2 24 | $82.6M | $-5.7M | ||
| Q1 24 | $84.1M | $14.9M |
| Q4 25 | $153.3M | — | ||
| Q3 25 | $156.9M | $198.6M | ||
| Q2 25 | $151.9M | $188.1M | ||
| Q1 25 | $154.9M | $199.6M | ||
| Q4 24 | $156.1M | $198.1M | ||
| Q3 24 | $161.3M | $336.4M | ||
| Q2 24 | $162.3M | $321.8M | ||
| Q1 24 | $153.2M | $359.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.28× | ||
| Q2 25 | — | 10.71× | ||
| Q1 25 | — | 2.66× | ||
| Q4 24 | — | 3.06× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 5.21× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.3M | $-15.9M |
| Free Cash FlowOCF − Capex | $-7.3M | $-17.1M |
| FCF MarginFCF / Revenue | -20.9% | -64.2% |
| Capex IntensityCapex / Revenue | 2.7% | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-5.2M | $-46.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.3M | — | ||
| Q3 25 | $-4.0M | $-15.9M | ||
| Q2 25 | $3.3M | $-8.2M | ||
| Q1 25 | $6.0M | $-17.0M | ||
| Q4 24 | $37.0K | $-500.0K | ||
| Q3 24 | $-3.4M | $3.6M | ||
| Q2 24 | $-2.7M | $-42.7M | ||
| Q1 24 | $-3.6M | $14.9M |
| Q4 25 | $-7.3M | — | ||
| Q3 25 | $-5.1M | $-17.1M | ||
| Q2 25 | $1.9M | $-9.2M | ||
| Q1 25 | $5.2M | $-18.4M | ||
| Q4 24 | $-1.0M | $-1.7M | ||
| Q3 24 | $-3.7M | $1.9M | ||
| Q2 24 | $-3.8M | $-44.1M | ||
| Q1 24 | $-3.9M | $13.1M |
| Q4 25 | -20.9% | — | ||
| Q3 25 | -13.4% | -64.2% | ||
| Q2 25 | 5.6% | -39.6% | ||
| Q1 25 | 18.0% | -81.9% | ||
| Q4 24 | -3.0% | -7.4% | ||
| Q3 24 | -11.3% | 8.6% | ||
| Q2 24 | -12.7% | -183.4% | ||
| Q1 24 | -15.5% | 54.2% |
| Q4 25 | 2.7% | — | ||
| Q3 25 | 2.7% | 4.6% | ||
| Q2 25 | 4.3% | 4.1% | ||
| Q1 25 | 2.8% | 6.0% | ||
| Q4 24 | 3.1% | 5.2% | ||
| Q3 24 | 0.9% | 7.7% | ||
| Q2 24 | 3.5% | 5.9% | ||
| Q1 24 | 1.1% | 7.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.02× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NAII
| Private Label Contract Manufacturing | $32.8M | 94% |
| Patent And Trademark Licensing | $2.0M | 6% |
VERI
| Software Products And Services | $20.9M | 78% |
| Other | $2.3M | 9% |
| Public Sector | $2.0M | 7% |
| Representation Services | $1.5M | 6% |
