Veritone Reports Second Quarter 2022 Results
Veritone, Inc. reported significant growth in Q2 2022, with revenue reaching $34.2 million, up 78% year-over-year. The company experienced a 229% increase in Software Products & Services revenue and a 16% growth in Managed Services revenue. New customer acquisition surged 42% to 594 clients, while total new bookings hit a record $14.6 million, reflecting a 197% increase. Despite a net loss of $3.2 million, Veritone ended the quarter with $220.5 million in cash and equivalents, indicating a strong liquidity position.
- Q2 2022 revenue of $34.2 million, up 78% year-over-year.
- Software Products & Services revenue increased 229%.
- Managed Services revenue grew 16% year-over-year.
- New bookings reached a record $14.6 million, up 197%.
- Customer count increased by 42% to 594.
- Ending cash and cash equivalents at $220.5 million.
- Net loss of $3.2 million compared to $12.7 million in Q2 2021.
- Non-GAAP net loss increased to $7.2 million.
- Average Annual Revenue per customer declined by 8%.
- Q2 Revenue Up
-
- Q2 Software Customers Increased to 594, Up
- Record Q2 Total New Bookings of
- Q2 Gross Revenue Retention Remained Above
- Exited Q2 2022 with
“For the second quarter of 2022,
Financial Highlights: Second Quarter 2022 Compared to Second Quarter 2021
-
Revenue increased
78% on a GAAP basis and was flat on a Pro Forma basis to$34.2 million -
Software Products & Services Revenue increased
229% on a GAAP basis and was down8% on a Pro Forma basis to$18.4 million -
Managed Services Revenue grew
16% year over year to$15.9 million -
GAAP net loss was
$3.2 million $12.7 million -
Non-GAAP gross profit increased
97% and was flat on a Pro Forma basis to$27.5 million -
Non-GAAP net loss was
$7.2 million $3.9 million -
Cash and cash equivalents(1) were
$220.5 million June 30, 2022 , as compared to$120.6 million June 30, 2021 . -
Ending Customers of 594, increased
42% year over year and6% sequentially. -
Average Annual Revenue (AAR) per customer declined by
8% compared with prior year period. -
Record Total New Bookings of
$14.6 million 199% , as compared to$4.9 million
Pro Forma basis assumesVeritone owned PandoLogic since the beginning of 2021. See below for a description of our non-GAAP measures and reconciliations to the most directly comparable GAAP measures.
| (1) |
Including approximately |
Three Months Ended |
|
Six Months Ended |
|||||||||||||
|
|
|
|
||||||||||||
Unaudited
|
2022 |
|
2021 |
|
Percent
|
|
2022 |
|
2021 |
|
Percent
|
||||
Revenue |
$ |
34,235 |
|
$ |
19,206 |
|
|
|
$ |
68,642 |
|
$ |
37,501 |
|
|
Net Loss |
$ |
(3,236) |
|
$ |
(12,715) |
|
NM |
|
$ |
(31,677) |
|
$ |
(43,282) |
|
NM |
Non-GAAP Gross Profit(1) |
$ |
27,530 |
|
$ |
13,975 |
|
|
|
$ |
55,014 |
|
$ |
27,447 |
|
|
Non-GAAP Net Loss(1) |
$ |
(7,183) |
|
$ |
(3,921) |
|
NM |
|
$ |
(12,354) |
|
$ |
(7,841) |
|
NM |
Non-GAAP Net Loss (Pro Forma) (1) |
$ |
(7,183) |
|
$ |
2,009 |
|
NM |
|
$ |
(12,354) |
|
$ |
(2,369) |
|
NM |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||||
|
|
|
|
||||||||||||
Software Products & Services
|
2022 |
|
2021 |
|
Percent
|
|
2022 |
|
2021 |
|
Percent
|
||||
Software Revenue – Pro Forma (in 000s) |
$ |
18,379 |
|
$ |
20,072 |
|
( |
|
$ |
36,546 |
|
$ |
30,255 |
|
|
Ending Customers |
|
594 |
|
|
419 |
|
|
|
|
|
|
|
|
||
AAR(1) (in 000s) |
$ |
187 |
|
$ |
203 |
|
( |
|
|
|
|
|
|
||
Total New Bookings (in 000s) |
$ |
14,658 |
|
$ |
4,896 |
|
|
|
|
|
|
|
|
||
|
(1) See tables below for reconciliation of non-GAAP financial measures to directly comparable GAAP measures and for the definitions used for Software Products & Services Supplemental Financial Information. |
|||||||||||||||
Recent Business Highlights
-
Positive Energy selected
Veritone iDERMS™ (intelligent distributed energy resource management) to extend sustainability efforts for EV batteries and second-life applications. -
Empower Energies, a leading provider of clean energy solutions selected
Veritone iDERMS™ to reduce end-user energy cost, maximize green energy investments and increase revenue opportunities. - Partnered with AINS FOIAXpress platform to automate public institutions’ ability to redact sensitive information and increase transparency by expediting the release of public records requests.
-
Expanded agreement with
United States Golf Association (USGA) to programmatic licensing of USGA’s championship video archive. -
Veritone Voice contracted numerous high profile content creators and performers, and broadcasters including
Larry King andSBS Broadcasting . -
Partnered with PROGRESS, to expand and improve monetization around its historic German film archive, with German the first of six languages
Veritone to support this year. - Acquired VocaliD, a pioneer in the creation of personalized synthetic voice to enhance Veritone’s existing synthetic voice offerings for commercial enterprise.
- Named a key player in the 2022 Guidehouse Insights Leaderboard Report for Virtual Power Plant (VPP) Platform Vendors
-
Won
Lighthouse Research and Advisory’s 2022 HR Tech award and a Gold Globee in theDisruptor Company Awards.
Financial Results for Three Months Ended
Achieved second quarter revenue of
Second quarter Pro Forma Revenue improved
As of
Restatement of Previously Issued Financial Statements
On
Business Outlook
We expect the second half of 2022 to continue to be pressured by Amazon’s reduced hiring investment, the estimated impact of which is included in our Q3 and full year 2022 business outlook.
Third Quarter 2022
-
Revenue is expected to be in the range of
$34 million $36 million $22.7 million -
Non-GAAP net loss is expected to be in the range of
$7 million $6 million $2.3 million
Full Year 2022
-
Revenue is expected to be in the range of
$150 million $160 million $115.3 million -
Non-GAAP net loss is expected to be in the range of
$15 million $10 million $6.8 million
Conference Call
- Pre-Registration*
- Live Audio Webcast
- Domestic Dial-In: 844-750-4897
- International Dial-In: 412-317-5293
* Please note that pre-registered participants will receive their dial-in number and unique PIN upon registration.
About the Presentation of Supplemental Non-GAAP and Pro Forma Financial Information
In this news release, the Company has supplemented its financial measures prepared in accordance with
Pro Forma Revenue includes historical Software Products & Services revenue from the past six fiscal quarters of each of
The Company has provided these non-GAAP financial measures because management believes such information to be important supplemental measures of performance that are commonly used by securities analysts, investors and other interested parties in the evaluation of companies in its industry. Management also uses this information internally for forecasting and budgeting.
These non-GAAP financial measures should not be considered as an alternative to revenue, net income (loss), operating income (loss) or any other financial measures so calculated and presented, nor as an alternative to cash flow from operating activities as a measure of liquidity. Other companies (including the Company’s competitors) may define these non-GAAP financial measures differently.
These non-GAAP financial measures may not be indicative of the historical operating results of
In addition, the Company defines the following capitalized terms in this news release as follows:
Core Operations consists of the Company’s aiWARE operating platform of software, SaaS and related services; content licensing and advertising agency services; and their supporting operations, including direct costs of sales as well as operating expenses for sales, marketing and product development and certain general and administrative costs dedicated to these operations.
Corporate principally consists of general and administrative functions such as executive, finance, legal, people operations, fixed overhead expenses (including facilities and information technology expenses), other income (expenses) and taxes, and other expenses that support the entire Company, including public company driven costs.
Software Products & Services consists of revenues generated from commercial enterprise and government and regulated industries customers using our aiWARE platform and PandoLogic’s talent acquisition software product solutions, any related support and maintenance services, and any related professional services associated with the deployment and/or implementation of such solutions.
Managed Services consist of revenues generated from commercial enterprise customers using our content licensing services and advertising agency and related services.
About
To learn more, visit Veritone.com.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding the Company’s expectations regarding its significant opportunity to grow market share and the Company’s expected total revenue and Non-GAAP net income(loss) for Q3 2022 and for full year 2022. In addition, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “plan,” “should,” “could,” “estimate” or “continue” or the plural, negative or other variations thereof or comparable terminology are intended to identify forward-looking statements, and any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements speak only as of the date hereof, and are based on management’s current assumptions, beliefs and information. As such, the Company’s actual results could differ materially and adversely from those expressed in any forward-looking statement as a result of various factors. Important factors that could cause such differences include, among other things, the process of preparing the restated financial statements as of and for the three months ended
|
|
||||||
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) |
|
||||||
(in thousands) |
|
||||||
|
|
|
|
|
|
|
|
|
As of |
|
|||||
|
|
|
|
|
|
||
|
2022 |
|
|
2021 (1) |
|
||
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
220,463 |
|
|
$ |
254,722 |
|
Accounts receivable, net |
|
50,134 |
|
|
|
85,063 |
|
Expenditures billable to clients |
|
17,975 |
|
|
|
27,180 |
|
Prepaid expenses and other current assets |
|
14,365 |
|
|
|
12,117 |
|
Total current assets |
|
302,937 |
|
|
|
379,082 |
|
Property, equipment and improvements, net |
|
3,400 |
|
|
|
1,556 |
|
Intangible assets, net |
|
89,370 |
|
|
|
93,872 |
|
|
|
44,731 |
|
|
|
40,972 |
|
Long-term restricted cash |
|
856 |
|
|
|
855 |
|
Other assets |
|
9,602 |
|
|
|
230 |
|
Total assets |
$ |
450,896 |
|
|
$ |
516,567 |
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
$ |
30,213 |
|
|
$ |
46,711 |
|
Accrued media payments |
|
81,569 |
|
|
|
86,923 |
|
Client advances |
|
11,977 |
|
|
|
10,561 |
|
Contingent consideration, current |
|
21,680 |
|
|
|
20,053 |
|
Other accrued liabilities |
|
24,963 |
|
|
|
27,093 |
|
Total current liabilities |
|
170,402 |
|
|
|
191,341 |
|
Convertible senior notes, non-current |
|
195,681 |
|
|
|
195,082 |
|
Contingent consideration, non-current |
|
305 |
|
|
|
31,533 |
|
Other non-current liabilities |
|
15,343 |
|
|
|
13,891 |
|
Total liabilities |
|
381,731 |
|
|
|
431,847 |
|
Total stockholders' equity |
|
69,165 |
|
|
|
85,444 |
|
Total liabilities and stockholders' equity |
$ |
450,896 |
|
|
$ |
517,291 |
|
|
|
|
|
|
|
|
|
(1) Balances as of |
|||||||
|
|
||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) |
|
||||||||||||||
AND COMPREHENSIVE LOSS |
|
||||||||||||||
(in thousands, except per share and share data) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||
|
|
|
|
|
|
||||||||||
|
2022 |
|
|
2021 |
|
|
2022(1) |
|
|
2021 |
|
||||
Revenue |
$ |
34,235 |
|
|
$ |
19,206 |
|
|
$ |
68,642 |
|
|
$ |
37,501 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
6,705 |
|
|
|
5,231 |
|
|
|
13,628 |
|
|
|
10,054 |
|
Sales and marketing |
|
12,576 |
|
|
|
5,253 |
|
|
|
23,645 |
|
|
|
11,680 |
|
Research and development |
|
11,068 |
|
|
|
4,646 |
|
|
|
20,951 |
|
|
|
9,606 |
|
General and administrative |
|
2,304 |
|
|
|
15,644 |
|
|
|
24,625 |
|
|
|
47,187 |
|
Amortization |
|
5,211 |
|
|
|
1,079 |
|
|
|
10,226 |
|
|
|
2,157 |
|
Total operating expenses |
|
37,864 |
|
|
|
31,853 |
|
|
|
93,075 |
|
|
|
80,684 |
|
Loss from operations |
|
(3,629 |
) |
|
|
(12,647 |
) |
|
|
(24,433 |
) |
|
|
(43,183 |
) |
Other expense, net |
|
(1,231 |
) |
|
|
(13 |
) |
|
|
(2,417 |
) |
|
|
(22 |
) |
Loss before provision for income taxes |
|
(4,860 |
) |
|
|
(12,660 |
) |
|
|
(26,850 |
) |
|
|
(43,205 |
) |
Provision for income taxes |
|
(1,607 |
) |
|
|
55 |
|
|
|
(1,468 |
) |
|
|
77 |
|
Net loss |
$ |
(3,253 |
) |
|
$ |
(12,715 |
) |
|
$ |
(25,382 |
) |
|
$ |
(43,282 |
) |
Net loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
$ |
(0.09 |
) |
|
$ |
(0.39 |
) |
|
$ |
(0.71 |
) |
|
$ |
(1.33 |
) |
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
36,083,515 |
|
|
|
32,741,356 |
|
|
|
35,782,766 |
|
|
|
32,458,269 |
|
Comprehensive loss: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(3,253 |
) |
|
$ |
(12,715 |
) |
|
$ |
(25,382 |
) |
|
$ |
(43,282 |
) |
Foreign currency translation gain, net of income taxes |
|
386 |
|
|
|
— |
|
|
|
576 |
|
|
|
7 |
|
Total comprehensive loss |
$ |
(2,867 |
) |
|
$ |
(12,715 |
) |
|
$ |
(24,806 |
) |
|
$ |
(43,275 |
) |
(1) Amounts for the three months ended |
|||||||||||||||
|
|
||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) |
|
||||||
(in thousands) |
|
||||||
|
Six Months Ended |
|
|||||
|
|
|
|||||
|
2022 |
|
|
2021 |
|
||
Cash flows from operating activities: |
|
|
|
|
|
|
|
Net loss(1) |
$ |
(25,382 |
) |
|
$ |
(43,282 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
Depreciation and amortization(1) |
|
10,670 |
|
|
|
2,410 |
|
Loss on disposal of fixed assets |
|
— |
|
|
|
1,894 |
|
Provision for doubtful accounts |
|
472 |
|
|
|
5 |
|
Loss on sublease |
|
— |
|
|
|
1,211 |
|
Change in deferred taxes |
|
(1,940 |
) |
|
|
— |
|
Change in fair value of contingent consideration(1) |
|
(8,785 |
) |
|
|
— |
|
Stock-based compensation expense |
|
9,562 |
|
|
|
28,219 |
|
Amortization of debt issuance costs |
|
599 |
|
|
|
— |
|
Amortization of right-of-use assets |
|
531 |
|
|
|
— |
|
Changes in assets and liabilities: |
|
|
|
|
|
|
|
Accounts receivable |
|
35,545 |
|
|
|
(2,857 |
) |
Expenditures billable to clients |
|
9,205 |
|
|
|
(2,418 |
) |
Prepaid expenses and other assets |
|
(1,481 |
) |
|
|
(2,218 |
) |
Other assets |
|
(4,950 |
) |
|
|
— |
|
Accounts payable |
|
(16,522 |
) |
|
|
542 |
|
Accrued media payments |
|
(5,988 |
) |
|
|
12,392 |
|
Client advances |
|
1,416 |
|
|
|
1,142 |
|
Other accrued liabilities |
|
(4,278 |
) |
|
|
2,387 |
|
Other liabilities(1) |
|
(2,959 |
) |
|
|
(418 |
) |
Net cash used in operating activities |
|
(4,285 |
) |
|
|
(991 |
) |
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
Minority investment |
|
(2,000 |
) |
|
|
— |
|
Capital expenditures |
|
(2,258 |
) |
|
|
(272 |
) |
Acquisitions, net of cash acquired |
|
(2,612 |
) |
|
|
— |
|
Net cash used in investing activities |
|
(6,870 |
) |
|
|
(272 |
) |
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
Payment of contingent considerations |
|
(14,376 |
) |
|
|
— |
|
Proceeds from common stock offerings, net |
|
(9,509 |
) |
|
|
— |
|
Proceeds from the exercise of warrants |
|
— |
|
|
|
2,279 |
|
Proceeds from issuances of stock under employee stock plans, net |
|
782 |
|
|
|
4,794 |
|
Net cash (used in) provided by financing activities |
|
(23,103 |
) |
|
|
7,073 |
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash and cash equivalents and restricted cash |
|
(34,258 |
) |
|
|
5,810 |
|
Cash and cash equivalents and restricted cash, beginning of period |
|
255,577 |
|
|
|
115,672 |
|
Cash and cash equivalents and restricted cash, end of period |
$ |
221,319 |
|
|
$ |
121,482 |
|
(1) Amounts in the three months ended |
|||||||
|
|
||||||||||||||||||||||
REVENUE DETAIL (UNAUDITED) |
|
||||||||||||||||||||||
(in thousands) |
|
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||||||||||
|
|
|
|
|
|
||||||||||||||||||
|
|
|
|
|
Government
|
|
|
|
|
|
|
|
|
|
|
Government
|
|
|
|
|
|
||
|
Commercial |
|
|
Regulated |
|
|
|
|
|
|
Commercial |
|
|
Regulated |
|
|
|
|
|
||||
|
Enterprise |
|
|
Industries |
|
|
Total |
|
|
Enterprise |
|
|
Industries |
|
|
Total |
|
||||||
Total Software Products & Services |
$ |
17,508 |
|
|
$ |
871 |
|
|
$ |
18,379 |
|
|
$ |
34,894 |
|
|
$ |
1,652 |
|
|
$ |
36,546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Managed Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advertising |
|
10,635 |
|
|
|
— |
|
|
|
10,635 |
|
|
|
21,603 |
|
|
|
— |
|
|
|
21,603 |
|
Licensing |
|
5,221 |
|
|
|
— |
|
|
|
5,221 |
|
|
|
10,493 |
|
|
|
— |
|
|
|
10,493 |
|
Total Managed Services |
|
15,856 |
|
|
|
— |
|
|
|
15,856 |
|
|
|
32,096 |
|
|
|
— |
|
|
|
32,096 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue |
$ |
33,364 |
|
|
$ |
871 |
|
|
$ |
34,235 |
|
|
$ |
66,990 |
|
|
$ |
1,652 |
|
|
$ |
68,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||||||||||
|
|
|
|
|
|
||||||||||||||||||
|
|
|
|
|
Government
|
|
|
|
|
|
|
|
|
|
|
Government
|
|
|
|
|
|
||
|
Commercial |
|
|
Regulated |
|
|
|
|
|
|
Commercial |
|
|
Regulated |
|
|
|
|
|
||||
|
Enterprise |
|
|
Industries |
|
|
Total |
|
|
Enterprise |
|
|
Industries |
|
|
Total |
|
||||||
Total Software Products & Services |
$ |
5,132 |
|
|
$ |
448 |
|
|
$ |
5,580 |
|
|
$ |
8,527 |
|
|
$ |
1,738 |
|
|
$ |
10,265 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Managed Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advertising |
|
9,969 |
|
|
|
— |
|
|
|
9,969 |
|
|
|
20,296 |
|
|
|
— |
|
|
|
20,296 |
|
Licensing |
|
3,657 |
|
|
|
— |
|
|
|
3,657 |
|
|
|
6,940 |
|
|
|
— |
|
|
|
6,940 |
|
Total Managed Services |
|
13,626 |
|
|
|
— |
|
|
|
13,626 |
|
|
|
27,236 |
|
|
|
— |
|
|
|
27,236 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue |
$ |
18,758 |
|
|
$ |
448 |
|
|
$ |
19,206 |
|
|
$ |
35,763 |
|
|
$ |
1,738 |
|
|
$ |
37,501 |
|
|
|
|||||||||||||||||||||||
RECONCILIATION OF NON-GAAP NET INCOME (LOSS) TO GAAP NET LOSS (UNAUDITED) |
|
|||||||||||||||||||||||
(in thousands) |
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|||||||||||||||||||||
|
|
2022 |
|
|
2021 |
|
||||||||||||||||||
|
|
Core
|
|
|
Corporate(2) |
|
|
Total |
|
|
Core
|
|
|
Corporate(2) |
|
|
Total |
|
||||||
Net loss |
|
$ |
(8,230 |
) |
|
$ |
4,977 |
|
|
$ |
(3,253 |
) |
|
$ |
(676 |
) |
|
$ |
(12,039 |
) |
|
$ |
(12,715 |
) |
(Benefit from) provision for income taxes |
|
|
(964 |
) |
|
|
(643 |
) |
|
|
(1,607 |
) |
|
|
— |
|
|
|
55 |
|
|
|
55 |
|
Depreciation and amortization |
|
|
5,306 |
|
|
|
150 |
|
|
|
5,456 |
|
|
|
1,084 |
|
|
|
73 |
|
|
|
1,157 |
|
Stock-based compensation expense |
|
|
2,685 |
|
|
|
1,976 |
|
|
|
4,661 |
|
|
|
1,016 |
|
|
|
5,593 |
|
|
|
6,609 |
|
Change in fair value of contingent consideration |
|
|
— |
|
|
|
(13,830 |
) |
|
|
(13,830 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Interest expense |
|
|
— |
|
|
|
1,183 |
|
|
|
1,183 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Acquisition and due diligence costs |
|
|
— |
|
|
|
207 |
|
|
|
207 |
|
|
|
— |
|
|
|
735 |
|
|
|
735 |
|
State sales tax reserve |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
146 |
|
|
|
146 |
|
Severance and executive search |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
92 |
|
|
|
92 |
|
Non-GAAP Net Income (Loss) |
|
$ |
(1,203 |
) |
|
$ |
(5,980 |
) |
|
$ |
(7,183 |
) |
|
$ |
1,424 |
|
|
$ |
(5,345 |
) |
|
$ |
(3,921 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
|||||||||||||||||||||
|
|
2022 |
|
|
2021 |
|
||||||||||||||||||
|
|
Core
|
|
|
Corporate(2) |
|
|
Total |
|
|
Core
|
|
|
Corporate(2) |
|
|
Total |
|
||||||
Net loss(3) |
|
$ |
(14,251 |
) |
|
$ |
(11,131 |
) |
|
$ |
(25,382 |
) |
|
$ |
(3,501 |
) |
|
$ |
(39,781 |
) |
|
$ |
(43,282 |
) |
(Benefit from) provision for income taxes(3) |
|
|
(846 |
) |
|
|
(622 |
) |
|
|
(1,468 |
) |
|
|
— |
|
|
|
77 |
|
|
|
77 |
|
Depreciation and amortization(3) |
|
|
10,404 |
|
|
|
266 |
|
|
|
10,670 |
|
|
|
2,167 |
|
|
|
243 |
|
|
|
2,410 |
|
Stock-based compensation expense |
|
|
4,668 |
|
|
|
4,809 |
|
|
|
9,477 |
|
|
|
3,711 |
|
|
|
24,508 |
|
|
|
28,219 |
|
Change in fair value of contingent consideration(3) |
|
|
— |
|
|
|
(8,785 |
) |
|
|
(8,785 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
State sales tax reserve |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
284 |
|
|
|
284 |
|
Interest expense |
|
|
— |
|
|
|
2,365 |
|
|
|
2,365 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Acquisition and due diligence costs |
|
|
— |
|
|
|
769 |
|
|
|
769 |
|
|
|
— |
|
|
|
735 |
|
|
|
735 |
|
Charges related to sublease |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,367 |
|
|
|
3,367 |
|
Severance and executive search |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
250 |
|
|
|
99 |
|
|
|
349 |
|
Non-GAAP Net Income (Loss) |
|
$ |
(25 |
) |
|
$ |
(12,329 |
) |
|
$ |
(12,354 |
) |
|
$ |
2,627 |
|
|
$ |
(10,468 |
) |
|
$ |
(7,841 |
) |
(1) Core Operations consists of our aiWARE operating platform of software, SaaS and related services; content, licensing and advertising agency services; and their supporting operations, including direct costs of sales as well as operating expenses for sales, marketing and product development and certain general and administrative costs dedicated to these operations. |
|
|||||||||||||||||||||||
(2) Corporate consists of general and administrative functions such as executive, finance, legal, people operations, fixed overhead expenses (including facilities and information technology expenses), other income (expenses) and taxes, and other expenses that support the entire company, including public company driven costs. |
|
|||||||||||||||||||||||
(3) Amounts for the three months ended |
|
|||||||||||||||||||||||
|
|||
RECONCILIATION OF EXPECTED NON-GAAP NET LOSS RANGE |
|||
TO EXPECTED GAAP NET LOSS RANGE (UNAUDITED) |
|||
(in millions) |
|||
|
Three Months
|
|
Year Ending |
|
|
|
|
Net loss |
( |
|
( |
Provision for income taxes |
|
|
|
Interest expense |
|
|
|
Depreciation and amortization |
|
|
|
Contingent consideration |
|
|
( |
Stock-based compensation expense |
|
|
|
Non-GAAP net income (loss) |
( |
|
( |
|
|
||||||||||||||
RECONCILIATION OF NON-GAAP TO GAAP FINANCIAL INFORMATION (UNAUDITED) |
|
||||||||||||||
(in thousands, except per share data) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||
|
|
|
|
|
|
||||||||||
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
Revenue |
$ |
34,235 |
|
|
$ |
19,206 |
|
|
$ |
68,642 |
|
|
$ |
37,501 |
|
Cost of revenue |
|
6,705 |
|
|
|
5,231 |
|
|
|
13,628 |
|
|
|
10,054 |
|
Non-GAAP gross profit |
|
27,530 |
|
|
|
13,975 |
|
|
|
55,014 |
|
|
|
27,447 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP cost of revenue |
|
6,705 |
|
|
|
5,231 |
|
|
|
13,628 |
|
|
|
10,054 |
|
Stock-based compensation expense |
|
(24 |
) |
|
|
— |
|
|
|
(44 |
) |
|
|
— |
|
Non-GAAP cost of revenue |
|
6,681 |
|
|
|
5,231 |
|
|
|
13,584 |
|
|
|
10,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP sales and marketing expenses |
|
12,576 |
|
|
|
5,253 |
|
|
|
23,645 |
|
|
|
11,680 |
|
Stock-based compensation expense |
|
(727 |
) |
|
|
(234 |
) |
|
|
(1,190 |
) |
|
|
(1,132 |
) |
Severance and executive search |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(236 |
) |
Non-GAAP sales and marketing expenses |
|
11,849 |
|
|
|
5,019 |
|
|
|
22,455 |
|
|
|
10,312 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP research and development expenses |
|
11,068 |
|
|
|
4,646 |
|
|
|
20,951 |
|
|
|
9,606 |
|
Stock-based compensation expense |
|
(1,247 |
) |
|
|
(566 |
) |
|
|
(2,251 |
) |
|
|
(1,585 |
) |
Severance and executive search |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(14 |
) |
Non-GAAP research and development expenses |
|
9,821 |
|
|
|
4,080 |
|
|
|
18,700 |
|
|
|
8,007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP general and administrative expenses(1) |
|
2,304 |
|
|
|
15,644 |
|
|
|
24,625 |
|
|
|
47,187 |
|
Depreciation |
|
(245 |
) |
|
|
(78 |
) |
|
|
(444 |
) |
|
|
(253 |
) |
Stock-based compensation expense |
|
(2,663 |
) |
|
|
(5,809 |
) |
|
|
(5,992 |
) |
|
|
(25,502 |
) |
Change in fair value of contingent consideration(1) |
|
13,830 |
|
|
|
— |
|
|
|
8,785 |
|
|
|
— |
|
Charges related to sublease |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(3,367 |
) |
State sales tax reserve |
|
— |
|
|
|
(146 |
) |
|
|
— |
|
|
|
(284 |
) |
Acquisition and due diligence costs |
|
(207 |
) |
|
|
(735 |
) |
|
|
(769 |
) |
|
|
(735 |
) |
Severance and executive search |
|
— |
|
|
|
(92 |
) |
|
|
— |
|
|
|
(99 |
) |
Non-GAAP general and administrative expenses |
|
13,019 |
|
|
|
8,784 |
|
|
|
26,205 |
|
|
|
16,947 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP amortization(1) |
|
(5,211 |
) |
|
|
(1,079 |
) |
|
|
(10,226 |
) |
|
|
(2,157 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP loss from operations(1) |
|
(3,629 |
) |
|
|
(12,647 |
) |
|
|
(24,433 |
) |
|
|
(43,183 |
) |
Total non-GAAP adjustments (2) |
|
(3,506 |
) |
|
|
8,739 |
|
|
|
12,131 |
|
|
|
35,364 |
|
Non-GAAP loss from operations |
|
(7,135 |
) |
|
|
(3,908 |
) |
|
|
(12,302 |
) |
|
|
(7,819 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP other expense, net |
|
(1,231 |
) |
|
|
(13 |
) |
|
|
(2,417 |
) |
|
|
(22 |
) |
Interest expense |
|
1,183 |
|
|
|
— |
|
|
|
2,365 |
|
|
|
— |
|
Non-GAAP other expense, net |
|
(48 |
) |
|
|
(13 |
) |
|
|
(52 |
) |
|
|
(22 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP loss before income taxes(1) |
|
(4,860 |
) |
|
|
(12,660 |
) |
|
|
(26,850 |
) |
|
|
(43,205 |
) |
Total non-GAAP adjustments (2) |
|
(2,323 |
) |
|
|
8,739 |
|
|
|
14,496 |
|
|
|
35,364 |
|
Non-GAAP loss before income taxes |
|
(7,183 |
) |
|
|
(3,921 |
) |
|
|
(12,354 |
) |
|
|
(7,841 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax (benefit) provision(1) |
|
(1,607 |
) |
|
55 |
|
|
|
(1,468 |
) |
|
77 |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss(1) |
|
(3,253 |
) |
|
|
(12,715 |
) |
|
|
(25,382 |
) |
|
|
(43,282 |
) |
Total non-GAAP adjustments (2) |
|
(3,930 |
) |
|
|
8,794 |
|
|
|
13,028 |
|
|
|
35,441 |
|
Non-GAAP net loss |
$ |
(7,183 |
) |
|
$ |
(3,921 |
) |
|
$ |
(12,354 |
) |
|
$ |
(7,841 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing non-GAAP basic and diluted net loss per share |
|
36,084 |
|
|
|
32,741 |
|
|
|
35,783 |
|
|
|
32,458 |
|
Non-GAAP basic and diluted net loss per share |
$ |
(0.20 |
) |
|
$ |
(0.12 |
) |
|
$ |
(0.35 |
) |
|
$ |
(0.24 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Amounts for the three months ended |
|||||||||||||||
(2) Adjustments are comprised of the adjustments to GAAP cost of revenue, sales and marketing expenses, research and development expenses and general and administrative expenses and other (expense) income, net (where applicable) listed above. |
|||||||||||||||
Supplemental Financial Information
We are providing the following unaudited supplemental financial information as a lookback of the trailing twelve months and the comparative quarter for the prior year to help investors better understand our recent historical and year-over-year performance. The Software Products & Services Supplemental Financial Information is presented on a pro forma basis, as further described below.
Software Products & Services Supplemental Financial Information
|
Quarter Ended |
|
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
2021 |
|
|
2021 |
|
|
2021 |
|
|
2021 |
|
|
2022 |
|
|
2022 |
|
||||||
Software Revenue - Pro Forma (in 000's) (1) |
$ |
10,183 |
|
|
$ |
20,072 |
|
|
$ |
21,860 |
|
|
$ |
40,223 |
|
|
$ |
18,167 |
|
|
$ |
18,379 |
|
Ending Customers (2) |
385 |
|
|
419 |
|
|
433 |
|
|
529 |
|
|
559 |
|
|
594 |
|
||||||
Average Annual Revenue (AAR) (in 000's) (3) |
$ |
199 |
|
|
$ |
203 |
|
|
$ |
208 |
|
|
$ |
209 |
|
|
$ |
207 |
|
|
$ |
187 |
|
Total New Bookings (in 000's) (4) |
$ |
2,442 |
|
|
$ |
4,896 |
|
|
$ |
3,356 |
|
|
$ |
8,317 |
|
|
$ |
9,574 |
|
|
$ |
14,658 |
|
Gross Revenue Retention (5) |
> |
|
|
> |
|
|
> |
|
|
> |
|
|
> |
|
|
> |
|
||||||
(1) “Software Revenue - Pro Forma” includes historical Software Products & Services revenue from the past six (6) fiscal quarters of each of |
|||||||||||||||||||||||
(2) “Ending Customers” includes Software Products & Services customers as of the end of each respective quarter set forth above with trailing twelve-month revenues in excess of |
|||||||||||||||||||||||
(3) “Average Annual Revenue (AAR)” is calculated as the aggregate of trailing twelve-month Software Products & Services revenue divided by the average number of customers over the same period for both |
|||||||||||||||||||||||
(4) “Total New Bookings” represents the total fees payable during the full contract term for new contracts received in the quarter (including fees payable during any cancellable portion and an estimate of license fees that may fluctuate over the term), excluding any variable fees under the contract (e.g., fees for cognitive processing, storage, professional services and other variable services). |
|||||||||||||||||||||||
(5) “Gross Revenue Retention”: We calculate our dollar-based gross retention rate as of the period end by starting with the revenue from Ending Customers for Software Products & Services as of the 3 months in the prior year quarter to such period, or Prior Year Quarter Revenue. We then deduct from the Prior Year Quarter Revenue any revenue from Ending Customers who are no longer customers as of the current period end, or Current Period Ending Customer Revenue. We then divide the total Current Period Ending Customer Revenue by the total Prior Year Quarter Revenue to arrive at our dollar-based gross retention rate, which is the percentage of revenue from all Ending Customers from our Software Products & Services as of the year prior that is not lost to customer churn. |
|||||||||||||||||||||||
Managed Services Supplemental Financial Information
|
Quarter Ended |
|
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
2021 |
|
|
2021 |
|
|
2021 |
|
|
2021 |
|
|
2022 |
|
|
2022 |
|
||||||
Avg billings per active Managed Services client (in 000's) (6) |
$ |
582 |
|
|
$ |
622 |
|
|
$ |
615 |
|
|
$ |
625 |
|
|
$ |
684 |
|
|
$ |
736 |
|
Revenue during quarter (in 000's) (7) |
$ |
10,327 |
|
|
$ |
9,968 |
|
|
$ |
9,647 |
|
|
$ |
10,857 |
|
|
$ |
10,735 |
|
|
$ |
9,625 |
|
(6) Avg billings per active Managed Services customer for each quarter reflects the average quarterly billings per active Managed Services customer over the twelve-month period through the end of such quarter for Managed Services clients that are active during such quarter. |
|||||||||||||||||||||||
(7) Managed Services revenue and metrics exclude content licensing and media services. |
|||||||||||||||||||||||
|
|||||||||||||||||||||||
Reconciliation of Pro Forma Revenue to Revenue |
|||||||||||||||||||||||
(in thousands) |
|||||||||||||||||||||||
|
Quarter Ended |
|
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
2021 |
|
|
2021 |
|
|
2021 |
|
|
2021 |
|
|
2022 |
|
|
2022 |
|
||||||
Software Products & Services Revenue |
$ |
4,685 |
|
|
$ |
5,580 |
|
|
$ |
9,027 |
|
|
$ |
40,223 |
|
|
$ |
18,167 |
|
|
$ |
18,379 |
|
PandoLogic Revenue (1) |
|
5,498 |
|
|
|
14,492 |
|
|
|
12,833 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Software Revenue - Pro Forma |
$ |
10,183 |
|
|
$ |
20,072 |
|
|
$ |
21,860 |
|
|
$ |
40,223 |
|
|
$ |
18,167 |
|
|
$ |
18,379 |
|
Managed Services Revenue |
|
13,610 |
|
|
|
13,626 |
|
|
|
13,628 |
|
|
|
14,926 |
|
|
|
16,240 |
|
|
|
15,856 |
|
Total Pro Forma Revenue |
$ |
23,793 |
|
|
$ |
33,698 |
|
|
$ |
35,488 |
|
|
$ |
55,149 |
|
|
$ |
34,407 |
|
|
$ |
34,235 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing Twelve Months Ended |
|
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
2021 |
|
|
2021 |
|
|
2021 |
|
|
2021 |
|
|
2022 |
|
|
2022 |
|
||||||
Software Products & Services Revenue |
$ |
15,439 |
|
|
$ |
18,017 |
|
|
$ |
23,693 |
|
|
$ |
59,515 |
|
|
$ |
72,997 |
|
|
$ |
85,796 |
|
PandoLogic Revenue (1) |
|
50,283 |
|
|
|
57,262 |
|
|
|
59,292 |
|
|
|
32,824 |
|
|
|
27,325 |
|
|
|
12,833 |
|
Software Revenue - Pro Forma |
$ |
65,723 |
|
|
$ |
75,278 |
|
|
$ |
82,985 |
|
|
$ |
92,339 |
|
|
$ |
100,322 |
|
|
$ |
98,629 |
|
Managed Services Revenue |
|
43,845 |
|
|
|
52,019 |
|
|
|
53,279 |
|
|
|
55,789 |
|
|
|
58,419 |
|
|
|
60,546 |
|
Total Pro Forma Revenue |
$ |
109,568 |
|
|
$ |
127,297 |
|
|
$ |
136,264 |
|
|
$ |
148,128 |
|
|
$ |
158,741 |
|
|
$ |
159,176 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Number of Customers - Pro Forma |
|
330 |
|
|
|
372 |
|
|
|
399 |
|
|
|
442 |
|
|
|
485 |
|
|
|
529 |
|
Average Annual Revenue (AAR) |
$ |
199 |
|
|
$ |
203 |
|
|
$ |
208 |
|
|
$ |
209 |
|
|
$ |
207 |
|
|
$ |
187 |
|
(1) |
|||||||||||||||||||||||
Restatement of Previously Issued Financial Statements
(in thousands)
On
The following tables present the effects of the aforementioned revisions on Veritone’s condensed consolidated statement of operations for the three months ended
|
|
Three Months Ended |
|
|||||||||
|
|
|
|
|||||||||
|
|
As Reported |
|
|
Adjustment |
|
|
As Restated |
|
|||
General and administrative |
|
$ |
28,917 |
|
|
$ |
(6,596 |
) |
|
$ |
22,321 |
|
Amortization |
|
|
4,693 |
|
|
|
321 |
|
|
|
5,014 |
|
Total operating expenses |
|
|
61,485 |
|
|
|
(6,275 |
) |
|
|
55,210 |
|
Loss from operations |
|
|
(27,078 |
) |
|
|
6,275 |
|
|
|
(20,803 |
) |
Loss before provision for income taxes |
|
|
(28,264 |
) |
|
|
6,275 |
|
|
|
(21,989 |
) |
Provision for income taxes |
|
|
177 |
|
|
|
(39 |
) |
|
|
138 |
|
Net loss |
|
|
(28,441 |
) |
|
|
6,314 |
|
|
|
(22,127 |
) |
Basic and diluted net loss per share |
|
|
(0.80 |
) |
|
|
0.18 |
|
|
|
(0.62 |
) |
Total comprehensive loss |
|
|
(28,251 |
) |
|
|
6,314 |
|
|
|
(21,937 |
) |
|
|
Three Months Ended |
|
|||||||||
|
|
|
|
|||||||||
|
|
As Reported |
|
|
Adjustment |
|
|
As Revised |
|
|||
General and administrative |
|
$ |
35,694 |
|
|
$ |
(5,239 |
) |
|
$ |
30,455 |
|
Amortization |
|
|
4,657 |
|
|
|
375 |
|
|
|
5,032 |
|
Total operating expenses |
|
|
68,182 |
|
|
|
(4,864 |
) |
|
|
63,318 |
|
Loss from operations |
|
|
(13,033 |
) |
|
|
4,864 |
|
|
|
(8,169 |
) |
Loss before provision for income taxes |
|
|
(13,596 |
) |
|
|
4,864 |
|
|
|
(8,732 |
) |
Provision for income taxes |
|
|
2,271 |
|
|
|
(45 |
) |
|
|
2,226 |
|
Net loss |
|
|
(15,867 |
) |
|
|
4,909 |
|
|
|
(10,958 |
) |
Basic and diluted net loss per share |
|
|
(0.45 |
) |
|
|
0.14 |
|
|
|
(0.31 |
) |
Total comprehensive loss |
|
|
(16,044 |
) |
|
|
4,909 |
|
|
|
(11,135 |
) |
|
|
Three Months Ended |
|
|||||||||
|
|
|
|
|||||||||
|
|
As Reported |
|
|
Adjustment |
|
|
As Revised |
|
|||
General and administrative |
|
$ |
15,037 |
|
|
$ |
43 |
|
|
$ |
15,080 |
|
Total operating expenses |
|
|
68,182 |
|
|
|
(4,864 |
) |
|
|
63,318 |
|
Loss from operations |
|
|
(11,033 |
) |
|
|
(43 |
) |
|
|
(11,076 |
) |
Loss before provision for income taxes |
|
|
(11,048 |
) |
|
|
(43 |
) |
|
|
(11,091 |
) |
Net loss |
|
|
(11,444 |
) |
|
|
(43 |
) |
|
|
(11,487 |
) |
Basic and diluted net loss per share |
|
|
(0.34 |
) |
|
|
(0.00 |
) |
|
|
(0.34 |
) |
Total comprehensive loss |
|
|
(11,444 |
) |
|
|
(43 |
) |
|
|
(11,487 |
) |
The following table presents the effects of the aforementioned revisions on the Company’s audited consolidated balance sheet as of
|
|
As of |
|
|||||||||
|
|
As Reported |
|
|
Adjustment |
|
|
As Revised |
|
|||
Intangible assets, net |
|
$ |
88,247 |
|
|
$ |
5,625 |
|
|
$ |
93,872 |
|
|
|
|
34,058 |
|
|
|
6,914 |
|
|
$ |
40,972 |
|
Total assets |
|
|
504,752 |
|
|
|
12,539 |
|
|
|
517,291 |
|
Contingent consideration, current |
|
|
19,988 |
|
|
|
65 |
|
|
|
20,053 |
|
Total current liabilities |
|
|
191,276 |
|
|
|
65 |
|
|
|
191,341 |
|
Contingent consideration, non-current |
|
|
24,737 |
|
|
|
6,796 |
|
|
|
31,533 |
|
Other non-current liabilities |
|
|
13,078 |
|
|
|
813 |
|
|
|
13,891 |
|
Total liabilities |
|
|
424,173 |
|
|
|
7,674 |
|
|
|
431,847 |
|
Accumulated deficit |
|
|
(350,958 |
) |
|
|
4,865 |
|
|
|
(346,093 |
) |
Total stockholders' equity |
|
|
80,579 |
|
|
|
4,865 |
|
|
|
85,444 |
|
Total liabilities and stockholders' equity |
|
|
504,752 |
|
|
|
12,539 |
|
|
|
517,291 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005986/en/
Company Contact:
SVP, Investor Relations and Capital Markets
415-203-8265
investors@veritone.com
IR Agency Contact:
203-644-5475
snorbom@prosek.com
Source:
FAQ
What was Veritone's revenue in Q2 2022?
How much did Veritone's Software Products & Services revenue grow in Q2 2022?
What were Veritone's total new bookings in Q2 2022?
How many customers did Veritone have at the end of Q2 2022?
What was the net loss reported by Veritone for Q2 2022?
What is Veritone's cash position as of June 30, 2022?
