Veritone, Inc. · NASDAQ:VERI
Veritone — Investor Presentation (March 2023)
25 slides from Veritone's investor presentation, March 2023
Slide 1: aiWARE: The Leading Enterprise AI Platform
aiWARE: THE LEADING ENTERPRISE AI PLATFORM Investor Presentation | March 2023 Copyright © 2023 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. NASDAQ: VERI Copyright © 2023 Veritone, Inc. All rights reserved. Trademarks are the property of th
Slide 2: Forward Looking Statements & Disclaimers
FORWARD LOOKING STATEMENTS & DISCLAIMERS This presentation of Veritone, Inc. (the “Company”) contains forward-looking statements that involve substantial risks and uncertainties. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potent
Slide 3: Veritone Overview: Impossible Is Outdated
VERITONE OVERVIEW Founded in IMPOSSIBLE IS OUTDATED 2014 Our Mission NASDAQ: With our leading Enterprise AI software, applications and services, our mission is to create a better world - one that is safe, dynamic, transparent and innovative VERI through the power of AI, changing how entire global in
Slide 4: Veritone at a Glance
VERITONE AT A GLANCE OVERVIEW KEY INDICATORS SEEING MOMENTUM • Veritone’s operating system for artificial intelligence, aiWARETM, orchestrates Financials a diverse ecosystem of machine learning models to transform audio, video, text and other unstructured data sources into actionable intelligence $1
Slide 5: Investment Highlights
INVESTMENT HIGHLIGHTS Large and Growing Enterprise AI Market Leading Operating System and Applications for Artificial Intelligence (AI) Driving Enterprise AI Transformation Focused Growth and Pathway Towards Profitability Through Strategic and Organic Opportunities Critical Enterprise Solutions with
Slide 6: Secular Tailwinds Position Veritone for Long-Term Growth
SECULAR TAILWINDS POSITION VERITONE FOR LONG-TERM GROWTH ~$900B Global Artificial Intelligence Market1 Global AI market expected to grow at 19% CAGR and reach $900bn by 20261 $1,000 $900 $900 ~$110B $800 Global enterprise AI/ML market forecasted to grow at GR $700 % CA $750 a CAGR of 36% and reach $
Slide 7: Extensible AI Platform Accelerating Digital Transformation
EXTENSIBLE AI PLATFORM ACCELERATING DIGITAL Rapidly create & deliver enterprise class applications TRANSFORMATION Veritone’s proven Enterprise AI platform, Application Layer aiWARETM, is the foundation upon which Veritone has helped customers and partners: Integration Layer BUILD Data Search & Index
Slide 8: Strategic Product Growth Accelerated by Inorganic Expansion
STRATEGIC PRODUCT GROWTH ACCELERATED BY INORGANIC EXPANSION Launched aiWARETM 3.0 Marching Towards Profitability (Dynamic scaling enabling versatile deployment) Through Strategic Growth Launched aiWARETM 2.0 (real-time processing) • 3.0 vastly improved stability, efficiency and performance • 2.0 ena
Slide 9: Enterprise AI Platform with Customer-Focused Alignment
ENTERPRISE AI PLATFORM WITH CUSTOMER-FOCUSED ALIGNMENT ENTERPRISE AI $900B TAM by 2026 | 19% CAGR(1) COMMERCIAL ENTERPRISE GOVERNMENT & REGULATED INDUSTRIES SOLUTIONS SERVICES SOLUTIONS SERVICES Data Insight Veritone One Data Insight Redaction as a Service Content Management & Monetization Veritone
Slide 10: Commercial Enterprise Solutions
COMMERCIAL ENTERPRISE SOLUTIONS SELECTED CUSTOMERS Built to Solve Your Business Challenges Veritone is helping some of the world’s most recognizable brands close the gap between traditional enterprise software and cognitive insights enabled by AI solutions and bespoke applications, empowering greate
Slide 11: Government & Regulated Industries
GOVERNMENT & REGULATED INDUSTRIES Government Solutions SELECTED CUSTOMERS Veritone works with some of the largest federal, state, and local government agencies, solving problems of transparency, compliance and inefficiencies with AI solutions and bespoke applications Data Insight Redaction Gain valu
Slide 12: Experienced Leadership
EXPERIENCED LEADERSHIP RYAN STEELBERG MIKE ZEMETRA Co-founder, CEO and President Executive Vice President & Chief Financial Officer • CFO – LiveXLive Media Inc. • CEO & President - Brand Affinity Technologies • Cloud Division CFO – j2 Global • Head of Radio – Google • CFO – Global League Entertainme
Slide 13: Financial Update
FINANCIAL UPDATE Copyright © 2023 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. Copyright © 2022 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners. NASDAQ: VERI
Slide 14: Strong Financial Performance
STRONG FINANCIAL PERFORMANCE Track Record of Driving Sustained Revenue Growth(1) Attractive Financial Profile ($ in Millions) 175 Fiscal ‘22 Financial Metrics $163 $150 Total Revenue Growth (Y/Y)* 30% Top Line 150 125 Software Product & Services Growth (Y/Y)* 42% $115 100 GR CA Non-GAAP Gross Margin
Slide 15: Business & Financial Summary
BUSINESS & FINANCIAL SUMMARY Trailing 5 Quarters Financial Performance Q4’22 Revenue Summary ($ in Millions) Revenue 60 $55.1 Quarterly Revenue Performance ($ in Millions) 50 60 $55 $14.9 $43.9 50 $44 $13.6 40 $37 40 $34 $34 $16.7 30 30 20 $40.2 10 0 20 Q4 '21 Q1 '22 Q2 '22 Q3 '22 Q4 '22 $21.9 $27.2
Slide 16: Balance Sheet Summary
BALANCE SHEET SUMMARY ($ in Thousands) December 31, 2022 Cash and Cash Equivalents $184,423 Current Assets $278,005 Total Assets $424,752 Current Liabilities $192,931 Total Liabilities $344,580 Stockholders’ Equity $80,172 Common Shares Outstanding 36,321,222 (excluding options, RSUs and warrants as
Slide 17: Appendix
APPENDIX Copyright © 2023 Veritone, Copyright Inc. All © 2023 Veritone, Inc.rights reserved. All rights Trademarks are reserved. CONFIDENTIAL. the property Trademarks are theofproperty Copyright © 2022 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective
Slide 18: Overview Video
OVERVIEW VIDEO https://vimeo.com/716903836 CopyrightCopyright © 2023 Veritone, © 2023 Veritone, Inc. AllInc. All rights rights reserved. reserved. CONFIDENTIAL. Trademarks are theTrademarks property ofare the respective their property of their respective owners. owners. NASDAQ: VERI NASDAQ: VERI 18
Slide 19: Pro Forma Historical Financials
PRO FORMA HISTORICAL FINANCIALS VERITONE, INC. PRO FORMA INCOME STATEMENT (UNAUDITED) (in thousands) Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Software Products & Services $ 10,183 $ 20,072 $ 21,860 $ 40,223 $ 18,167 $ 18,379 $ 20,812 $ 27,220 Managed Services 13,610 13,626 13,627 14,926 16,24
Slide 20: Annual GAAP to Non-GAAP Reconciliation
ANNUAL GAAP TO NON-GAAP RECONCILIATION VERITONE, INC. RECONCILIATION OF NON-GAAP NET INCOME (LOSS) TO GAAP NET LOSS (Unaudited, in thousands) 2017 2018 2019 2020 2021 2022 2023 E GAAP net loss $ (59,601) $ (61,104) $ (62,078) $ (47,876) $ (65,728) $ (25,236) $ (54,000) Interest expense, net 496 - -
Slide 21: Quarterly GAAP to Non-GAAP Reconciliation
QUARTERLY GAAP TO NON-GAAP RECONCILIATION VERITONE, INC. RECONCILIATION OF NON-GAAP NET LOSS TO GAAP NET LOSS (Unaudited, in thousands) Q1:2021 Q2:2021 Q3:2021 Q4:2021 Q1:2022 Q2:2022 Q3:2022 Q4:2022 Q1:2023 E GAAP net loss $ (30,567) $ (12,715) $ (11,401) $ (10,958) $ (22,129) $ (3,253) $ (4,886) $
Slide 22: Quarterly GAAP to Non-GAAP Reconciliation
QUARTERLY GAAP TO NON-GAAP RECONCILIATION VERITONE, INC. RECONCILIATION OF PRO FORMA REVENUE TO REVENUE AND CALCULATION OF AAR (in thousands) Quarter Ended Mar 31, Jun 30, Sept 30, Dec 31, Mar 31, Jun 30, Sept 30, Dec 31, 2021 2021 2021 2021 2022 2022 2022 2022 Software Products & Services Revenue $
Slide 23: Fourth Quarter 2022 Revenue Summary
FOURTH QUARTER 2022 REVENUE SUMMARY Q4’22 CHANGE ($ in Thousands) Q4’21 Q3’22 Q4’22 Q/Q Y/Y Commercial Enterprise Software Products & Services $38,888 $19,800 $26,055 32% (33%) Managed Services $14,927 $16,384 $16,670 2% 12% Subtotal $53,815 $36,184 $42,725 18% (21%) Government & Regulated Industrie
Slide 24: Supplemental Financial Information
SUPPLEMENTAL FINANCIAL INFORMATION “Ending Software Customers” includes Software Products & Services customers as of the periods presented with trailing twelve- month revenues in excess of $2,400 and/or deemed by us to be under an active contract for the applicable periods. “Total New Bookings” repr
Slide 25: Thank You
THANK YOU Copyright © 2023 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners. Copyright © 2023 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. NASDAQ: NASDAQ:VERI VERI