Veritone, Inc. · NASDAQ:VERI
Veritone — Investor Presentation (November 2022)
29 slides from Veritone's investor presentation, November 2022
Slide 1: The Leading Enterprise AI Platform
aiWARE: THE LEADING ENTERPRISE AI PLATFORM Investor Presentation | November 2022 Copyright © 2022 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners. All information as of September 30, 2022, unless otherwise noted. Copyright © 2022 Veritone, Inc. Copyright Tr
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Slide 3: Veritone – Impossible Is Outdated
VERITONE – IMPOSSIBLE IS OUTDATED Founded in 2014 Veritone is a leader in enterprise AI software, services, and applications, helping companies transform their operations and solve the NASDAQ: complexities of digital information today. With our AI solutions and rich partner ecosystem, our customers
Slide 4: Veritone at a Glance
VERITONE AT A GLANCE OVERVIEW Q3 2022 KEY INDICATORS SEEING MOMENTUM • Veritone’s operating system for artificial intelligence, aiWARETM, orchestrates a Financials diverse ecosystem of machine learning models to transform audio, video, text, $37.2M +131% $137M +64% YOY growth YOY Revenue Growth >100
Slide 5: Recent Business Momentum & Key Wins
RECENT BUSINESS MOMENTUM & KEY WINS 10.2022 10.2022 10.2022 Veritone Introduces New AI- Veritone and Stats Perform Partner Powered Video Forensics Solution to Give Sports Data a New Voice PandoLogic Announces – Veritone Tracker PandoSELECT New AI-powered tracking solution that leverages New offering
Slide 6: Overview Video
OVERVIEW VIDEO https://vimeo.com/716903836 Copyright Copyright©©2022 2022Veritone, Veritone,Inc. Inc.All Allrights rightsreserved. reserved.Trademarks are theTrademarks CONFIDENTIAL. property of are theirthe respective property owners. of their respective owners. NASDAQ: VERI 6
Slide 7: Investment Highlights
INVESTMENT HIGHLIGHTS Leading Operating System for Artificial Intelligence (AI) Driving Enterprise AI Transformation Extensible Platform Supported by Large and Growing Enterprise AI Market Sustained Growth Through Product Innovation and Accelerated by Strategic Inorganic Opportunities Critical Enter
Slide 8: Veritone Mission
VERITONE MISSION Veritone is a leading enterprise AI software and services provider that activates the digital transformation of organizations. Our mission is to simply create a better world. One that is safe, dynamic, transparent, and innovative. The AI platform, aiWARE, a leading proprietary opera
Slide 9: Extensible AI Platform Accelerating Digital Transformation
EXTENSIBLE AI PLATFORM ACCELERATING DIGITAL TRANSFORMATION Veritone’s proven Enterprise AI platform, aiWARETM, is the foundation upon which Veritone has helped customers and partners: BUILD AI-powered solutions and applications faster and cost-effectively ACCELERATE AI enterprise implementation and
Slide 10: Unstructured Data Presents Large Market Opportunity
UNSTRUCTURED DATA PRESENTS LARGE MARKET OPPORTUNITY $100B TAM by 2025 | 35% CAGR(1) 80% OF THE WORLD’S DATA IS BUSINESS UNSTRUCTURED PROCESS aiWARE GROWING 30-60%/YR (2) STRUCTURED DATA (1) Source: Omdia Artificial Intelligence Software Market Forecast, June 29, 2020 (2) Source: Gartner 2020 Strateg
Slide 11: Strategic Product Growth Accelerated by Inorganic Expansion
STRATEGIC PRODUCT GROWTH ACCELERATED BY INORGANIC EXPANSION Launched aiWARETM 3.0 (Dynamic scaling enabling versatile deployment) Launched aiWARETM 2.0 (real-time processing) • 3.0 Vastly improved stability, efficiency and performance • 2.0 enables expansion of market • Announced support for opportu
Slide 12: 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 13: 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 val
Slide 14: Government & Regulated Industries (Cont'd)
GOVERNMENT & REGULATED INDUSTRIES (CONT’D) Energy Solutions SELECTED CUSTOMERS Veritone is empowering energy companies with the technology to prepare for changing business models and help the world obtain more efficient energy systems and infrastructure Empower Real-time Forecasting Distributed Ener
Slide 15: Financial Update
FINANCIAL UPDATE Copyright © 2022 Veritone, Inc. Copyright All rights © reserved. 2022 Veritone, Trademarks Inc. All are rights thereserved. property CONFIDENTIAL. of their respectiveTrademarks owners. are the property of their respective owners. NASDAQ: VERI
Slide 16: Strong Financial Performance
STRONG FINANCIAL PERFORMANCE Track Record of Driving Sustained Revenue Growth(1) Attractive Financial Profile: Growth & Profitability(2) ($ in Millions) 175 Pro Forma Q3 ‘22 Financial Metrics $151E Total Revenue Growth (Y/Y)* 5% Top Line 150 125 Software Product & Services Growth (Y/Y)* (5%) $115 YT
Slide 17: Business & Financial Summary
BUSINESS & FINANCIAL SUMMARY Trailing 5 Quarters Financial Performance Q3’22 Revenue Summary ($ in Millions) Robust Revenue Growth… 40 $37.2 Quarterly Revenue Performance $35.5 35 ($ in Millions) 60 $55 30 50 $13.6 $16.5 40 $37 $34 $34 25 $22.7 30 $23 20 20 10 15 $13.6 0 Q3 '21 Q4 '21 Q1 '22 Q2 '22
Slide 18: Third Quarter 2022 Revenue – Summary
THIRD QUARTER 2022 REVENUE – SUMMARY Q3’22 CHANGE ($ in Thousands) Q3’21 Q2’22 Q3’22 Q/Q Y/Y Commercial Enterprise Software Products & Services $8,069 $17,508 $19,801 13% 145% Managed Services $13,628 $15,856 $16,381 3% 20% Subtotal $21,697 $33,364 $36,182 8% 78% Government & Regulated Industries So
Slide 19: Balance Sheet Summary
BALANCE SHEET SUMMARY ($ in Thousands) September 30, 2022 Cash and Cash Equivalents $196,071 Current Assets $322,770 Total Assets $469,791 Current Liabilities $185,808 Total Liabilities $399,018 Stockholders’ Equity $70,773 Common Shares Outstanding 36,322,465 (excluding options, RSUs and warrants a
Slide 20: Appendix
APPENDIX Copyright © 2022 Veritone, Inc. Copyright Copyright All rights ©©reserved. 2022 2021Veritone, Veritone, Trademarks Inc. Inc.All Allare rights rights thereserved. reserved. property CONFIDENTIAL. of CONFIDENTIAL. their respectiveTrademarks owners. Trademarksare arethe theproperty propertyofo
Slide 21: 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 Software Products & Services $ 10,183 $ 20,072 $ 21,860 $ 40,223 $ 18,167 $ 18,379 $ 20,812 Managed Services 13,610 13,626 13,627 14,926 16,240 15,856 16,384
Slide 22: 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 E GAAP net loss $ (59,601) $ (61,104) $ (62,078) $ (47,876) $ (65,728) (41,400) Interest expense, net 496 - - 9 538 5,100 Provis
Slide 23: 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 E GAAP net loss $ (30,567) $ (12,715) $ (11,401) $ (10,958) $ (22,129) $ (3,253) $ (4,886) $ (11,100
Slide 24: 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, 2021 2021 2021 2021 2022 2022 2022 Software Products & Services Revenue $ 4,685 $ 5,58
Slide 25: 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 for both Veritone, Inc. and PandoLogic and/or deemed by us to be under an active contract for the applica
Slide 26: The Veritone aiWARE Platform
THE VERITONE aiWARETM PLATFORM Transform audio, video, text, and other data sources into actionable intelligence FAST TO MARKET “OS for AI” ecosystem of hundreds of best-of-breed, ready-to-deploy AI engines FUTURE PROOF Single development interface for your apps, across AI engine vendors ACCESSIBLE
Slide 27: Enterprise AI Platform with Customer-Focused Alignment
ENTERPRISE AI PLATFORM WITH CUSTOMER-FOCUSED ALIGNMENT ENTERPRISE AI $100B TAM by 2025 | 35% CAGR(1) COMMERCIAL ENTERPRISE GOVERNMENT & REGULATED INDUSTRIES SOLUTIONS SERVICES ENERGY GOVERNMENT, LEGAL & COMPLIANCE Solutions Services Solutions Services Data Insight Veritone One Real-Time Forecasting
Slide 28: Strategic Rationale for PandoLogic
STRATEGIC RATIONALE FOR PANDOLOGIC 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 require
Slide 29: Thanks
THANKS Copyright © 2022 Veritone, Inc. Copyright All rights © reserved. 2022 Veritone, Trademarks Inc. All are rights thereserved. property CONFIDENTIAL. of their respectiveTrademarks owners. are the property of their respective owners. NASDAQ: VERI