Veritone, Inc. · NASDAQ:VERI
Veritone — Merger or Acquisition (July 2021)
16 slides from Veritone's merger presentation, Jul 22, 2021
Slide 1: Transformative Acquisition of PandoLogic
+ Transformative Acquisition of PandoLogic July 22, 2021 Copyright © 2021 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. Copyright © 2021 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owner
Slide 2: Forward Looking Statements & Disclaimers
Forward Looking Statements & Disclaimers This presentation contains forward-looking statements, including without limitation statements regarding Veritone’s acquisition of PandoLogic, pro forma financial figures, potential synergies between Veritone and PandoLogic and expected business results of Pa
Slide 3: Agenda and Participants
Agenda and Participants Agenda Call Participants • Transaction Snapshot Chad Steelberg Founder & Chief Executive Officer, Veritone • Veritone + PandoLogic Terrance Baker • Strategic Rationale Chief Executive Officer, PandoLogic • Transaction Details Ryan Steelberg Founder & President, Veritone • Pro
Slide 4: Transaction Overview
Transaction Overview + Creator of the world’s first operating system for Leading provider of intelligent recruitment artificial intelligence, aiWARE™ to rapidly expanding and global markets Accretive Transaction AI-Driven Efficiency • $150 million in total value and Performance - $50 million in cash
Slide 5: PandoLogic at a Glance
PandoLogic at a Glance Company Overview Award Winning • Automated talent acquisition platform that empowers employers to find the right talent, at the right time, in the right place. • Serves an enterprise customer base within a large and growing market, which is looking to automate human-led soluti
Slide 6: Veritone + PandoLogic
Veritone + PandoLogic Crossover of Corporate Intelligence SaaS & software offerings targeting Human Capital Management M&E GLC Energy Future Verticals Future Horizontals Corporate Intelligence (Human Capital Management) aiWARE Copyright © 2021 Veritone, Inc. All rights reserved. CONFIDENTIAL. Tradem
Slide 7: Strategic Rationale
Strategic Rationale Veritone has been focused on the promise of moving humans from "In the Loop" to On the Loop" Creates leading AI + Human Capital Management software and SaaS solutions for employers requiring more efficient, unbiased and scalable hiring Human involvement is required for Expands ma
Slide 8: Combination Captures Market Share
Combination Captures Market Share PandoLogic accelerates Veritone's Capture of market share in the Machine Learning Operations portion of its ~$35B SAM. Copyright © 2021 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. NASDAQ: VERI 8
Slide 9: Financial Considerations
Financial Considerations Mike Zemetra, CFO NASDAQ: Copyright © 2021 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. NASDAQ: VERI 9 VERI
Slide 10: Expanded SaaS and Software Solutions*
Expanded SaaS and Software Solutions* Balanced Revenue Mix International Expansion Distributed Engineering US: 66% ROW: 34% SaaS Revenue Mix Rises from ~30% to >50% Future Opportunities to Expand Existing and New SaaS and Software Solutions across Combined Customer Base * Pro Forma Copyright © 2021
Slide 11: Pro Forma Fiscal 2021
Pro Forma Fiscal 2021 Increases Pro Forma 2021 Adds +$25 Million to Pro Forma Delivers Profitable Consolidated Revenue Base +60% 2021 Core Operations Non-GAAP Income $ in Millions Veritone Guidance 1 PandoLogic Pro Forma Combined Pro Forma 2021 Revenue $78.5 - $83.5 +$50.0 +$128.5 - $133.5 SaaS and
Slide 12: Transaction Details
Transaction Details Definitive Agreement Signed: Expected Closing Date: ● July 21, 2021 ● Mid-September (subject to customary regulatory approvals) Closing Consideration: $85 million Earnout Consideration: $65 million (based on fiscal 2021 and 2022 targets) ● $50 million cash ● $43.3 million cash ●
Slide 13: Capitalization Table
Capitalization Table Sources Capitalization Table Amount % of Total Pro Forma Cash $ 50.0 33.3% 9/30/2021 Veritone Equity 35.0 23.3% Cash $ +70.0 Deferred Consideration 65.0 43.3% Debt - Total Sources $ 150.0 100.0% Total Cash over Debt $ +70.0 Uses 2021 Pro Forma Financial Metrics Amount % of Total
Slide 14: Key Takeaways
Key Takeaways Instantly Accretive Acquisition ● PandoLogic expected to add Pro Forma 2021 +$50 million and +$25 million in SaaS and related revenues and EBITDA, respectively. ● PandoLogic expected to deliver solid double digit growth. PandoLogic to operate as wholly-owned subsidiary; no material cha
Slide 15: NASDAQ: VERI
Copyright © 2021 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. NASDAQ: VERI 15
Slide 16: For More Information
For More Information Investors.Veritone.com Brian Alger, CFA investors@veritone.com Copyright © 2021 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. NASDAQ: VERI 16