Slide 1: Investor Presentation | May 2023
Investor Presentation | May 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 their respective owners.
Slide 2: Forward Looking Statements & Disclaimers
FORWARD LOOKING STATEMENTS & DISCLAIMERS This presentation of Veritone, Inc. (the “Company”) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. The words “anticipate,” “believe,” “estimate,”
Slide 3: Veritone Overview
VERITONE OVERVIEW Founded in IMPOSSIBLE IS OUTDATED 2014 Veritone is a leading enterprise AI software, applications, and NASDAQ: services provider with one mission—to create a better world. One that is safe, dynamic, transparent, and innovative through the power VERI AI, changing how entire industri
Slide 4: Veritone at a Glance
VERITONE AT A GLANCE OVERVIEW KEY INDICATORS IN Q1 2023 • 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 $30M $
Slide 5: Investment Highlights
INVESTMENT HIGHLIGHTS Large and Growing Enterprise AI Market A 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 wi
Slide 6: Secular Tailwinds Should Position Veritone for Long-Term Growth
SECULAR TAILWINDS SHOULD 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 $900 ~$110B Global enterprise AI/ML market forecasted to grow at a CAGR of 36% and reach $110B by 20302 +19% $750 CAGR
Slide 7: Extensible AI Platform Accelerating Digital Transformation
EXTENSIBLE AI PLATFORM Rapidly create & deliver ACCELERATING DIGITAL enterprise class applications TRANSFORMATION Application Layer Veritone’s proven Enterprise AI platform, aiWARETM, is the foundation upon which Veritone has helped customers and partners: Integration Layer Data Search & Indexing La
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 $900B TAM by 2026 | 19% CAGR(1) COMMERCIAL ENTERPRISE GOVERNMENT & REGULATED INDUSTRIES SOLUTIONS SERVICES SOLUTIONS SERVICES Data Insight Veritone One Data Insight Redaction as a Service Content Management & Monetization Veritone
Slide 10: Commercial Enterprise Solutions
COMMERCIAL ENTERPRISE SOLUTIONS SELECTED CUSTOMERS Built to Solve Your Business Challenges Veritone is helping some of the world’s most recognizable brands close the gap between traditional enterprise software and cognitive insights enabled by AI solutions and bespoke applications, empowering greate
Slide 11: Government & Regulated Industries
GOVERNMENT & REGULATED INDUSTRIES Government Solutions SELECTED CUSTOMERS Veritone works with some of the largest federal, state, and local government agencies, solving problems of transparency, compliance, and inefficiencies with AI solutions and bespoke applications Data Insight Redaction Gain val
Slide 12: Experienced Leadership
EXPERIENCED LEADERSHIP RYAN STEELBERG MIKE ZEMETRA Co-founder, Chief Executive Officer, President Executive Vice President & Chief Financial Officer • CFO – LiveXLive Media Inc. • CEO & President - Brand Affinity Technologies • Cloud Division CFO – j2 Global • Head of Radio – Google • CFO – Global L
Slide 13: Financial Update
FINANCIAL UPDATE Copyright © 2023 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. Copyright © 2022 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners. NASDAQ: VERI
Slide 14: Strong Financial Performance
STRONG FINANCIAL PERFORMANCE Track Record of Driving Sustained Revenue Growth(1) ($ in Millions) Fiscal 2023 Guidance Total Revenue Growth (Y/Y)* 8% Top Line $162 $150 CAGR (FY 2017 – 2023E) +50% Profitability +51% Non-GAAP Gross Margin(2) >80% CAGR $115 Non-GAAP Net Income Margin (2) (>3%) Q1 Key P
Slide 15: Business & Financial Summary
BUSINESS & FINANCIAL SUMMARY Quarterly Revenue Performance 1Q23 Revenue Summary ($ in Millions) ($ in Millions) $43.9 $34.4 $37.2 $30.3 $34.4 $34.2 $30.3 $13.6 $16.2 $16.1 1Q22 2Q22 3Q22 4Q22 1Q23 $21.9 $18.2 Quarterly Non-GAAP Net Income (Loss) Performance(1) $14.1 ($ in Millions) 1Q22 1Q23 $2.2 1Q
Slide 16: Balance Sheet Summary
BALANCE SHEET SUMMARY ($ in Thousands) March 31, 2023 Cash and Cash Equivalents $139,707 Current Assets $220,398 Total Assets $362,570 Current Liabilities $151,967 Total Liabilities $301,670 Stockholders’ Equity $60,900 Common Shares Outstanding(1) 36,792,812 (1) Excluding options, RSUs and warrants
Slide 17: Appendix
APPENDIX Copyright © 2023 Veritone, Inc. Copyright © All 2023rights reserved. Veritone, Trademarks Inc. All rights are the property reserved. CONFIDENTIAL. of theirare Trademarks respective owners. the property of their respective owners. NASDAQ: VERI
Slide 18: Quarterly GAAP to Non-GAAP Reconciliation (Unaudited)
QUARTERLY GAAP TO NON-GAAP RECONCILIATION (UNAUDITED) ($ in Thousands) Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 E GAAP net loss $ (22,129) $ (3,253) $ (4,886) $ 5,032 $ (22,783) $ (19,300) Interest expense, net 1,182 1,183 1,305 680 805 800 Provision for (benefit from) income taxes 138 (1,607
Slide 19: Annual GAAP to Non-GAAP Reconciliation (Unaudited)
ANNUAL GAAP TO NON-GAAP RECONCILIATION (UNAUDITED) ($ in Thousands) 2018 2019 2020 2021 2022 2023 E GAAP net loss $ (61,104) $ (62,078) $ (47,876) $ (65,728) (25,236) (54,600) Interest expense, net - - 9 538 4,350 3,200 Provision for (benefit from) income taxes 22 (1,452) 76 2,699 1,988 2,000 Deprec
Slide 20: Revenue to Non-GAAP Reconciliation (Unaudited)
REVENUE TO NON-GAAP RECONCILIATION (UNAUDITED) ($ in Thousands) 2023 E Revenue $ 162,000 Cost of Revenue 29,160 Non-GAAP Gross Profit $ 132,840 Non-GAAP Gross Margin 82.0% ($ in Thousands) 2023 E Revenue $ 162,000 (1) Non-GAAP Net Loss (4,500) Non-GAAP Net Loss Margin (2.8)% (1) See page 19 for reco
Slide 21: First Quarter 2023 Revenue Summary
FIRST QUARTER 2023 REVENUE SUMMARY Q1 2023 CHANGE ($ in Thousands) Q1 2022 Q4 2022 Q1 2023 Q/Q Y/Y Commercial Enterprise Software Products & Services $17,386 $26,055 $12,732 (51%) (27%) Managed Services $16,240 $16,670 $16,136 (3%) (1%) Subtotal $33,626 $42,725 $28,868 (32%) (14%) Government & Regul
Slide 22: 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 applic
Slide 23: 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