Veritone, Inc. · NASDAQ:VERI
Veritone — Investor Presentation (October 2024)
23 slides from Veritone's investor presentation, October 2024
Slide 1: Investor Update: Veritone Announces Divestiture of Veritone One
Investor Update Veritone Announces Divestiture of Veritone One October 2024 Copyright © 2024 Veritone, Inc. All rights reserved. Copyright © 2024 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” or "Veritone") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties, including statements regarding o
Slide 3: Divestiture
Divestiture Copyright © 2024 Veritone, Inc. All rights reserved.
Slide 4: Transaction Overview
Transaction Overview Strategic Sale with Total Consideration up to $104 Million to Transform Veritone’s Focus and Balance Sheet Veritone One Divestiture Highlights • Divestiture of non-core asset will enable Veritone to focus on AI software, products and services • Represented 24% of Veritone traili
Slide 5: Veritone One Divestiture Rationale
Veritone One Divestiture Rationale Accelerates Strategy to Remain a Leading Enterprise AI Software, Applications and Services Provider Refocuses Veritone as a pureplay Enhances focus on higher Increased contribution from AI and AI company, building on top growth verticals with Software Products & Se
Slide 6: Deleverages the Business to Preserve Long-Term Growth
Deleverages the Business to Preserve Long-Term Growth Transaction signifies large dislocation in value and improves Veritone’s balance sheet Consolidated Debt since Q4’21 – Divestiture (in millions) Total consideration of up to $104.0 million, with Veritone One contributing approximately 24% of Veri
Slide 7: Q3 2024 Preliminary Results and FY 2024/2025 Guidance
Q3 2024 Preliminary Results* and FY 2024/2025 Guidance Preliminary Results * Unaudited and $ in Millions Veritone One represented approximately 24% of Three Months Ended Nine Months Ended consolidated revenue during the nine months September 30, 2024 September 30, 2024 ended September 30, 2024. Reve
Slide 8: Revenue and Non-GAAP Net Loss Outlook
Revenue and Non-GAAP Net Loss* Outlook Veritone to exit the divestiture with over 3,000 software products and services customers and over $65 million of total Annual Recurring Revenue** REVENUE OUTLOOK* NON-GAAP NET LOSS OUTLOOK* $ in Millions $ in Millions Revenue Projections Non-GAAP Net Loss (Mid
Slide 9: Veritone Post-Divestiture
Veritone Post-Divestiture Copyright © 2024 Veritone, Inc. All rights reserved.
Slide 10: Simplified & focused on Enterprise AI
Simplified & focused on Enterprise AI Founded in 2014 What We Sell Who We Sell To NASDAQ: Commercial VERI Software 35 • Pre-built AI applications • Industry and use case specific • Leverages aiWARE platform Issued U.S. & Foreign Patents + 93 Pending Applications Solutions • Custom built AI applicati
Slide 11: Problems we solve
Problems we solve Data Fragmented AI explosion solutions Organizations struggle to manage Single-purpose models fall and leverage vast amounts of short—integrating multiple unstructured data—audio, video, cognitive engines is and text. expensive and slow. High cost & complexity Slow & inefficient of
Slide 12: Veritone aiWARE Enterprise AI OS
Our Platform Solution Veritone aiWARE Enterprise AI OS ● AI Platform: A proprietary AI operating system that supports and offers hundreds of cognitive and generative AI models to analyze, Industry Applications Application Layer organize, and act on data in near real-time. ● Multi-Engine Flexibility:
Slide 13: Commercial
Our AI applications and custom-built SELECT CUSTOMERS Commercial AI solutions unlock tremendous value for the commercial enterprise Veritone enables the enterprises to leverage AI to transform workflows and unlock value across functions in many industries through both pre-built AI applications and t
Slide 14: Public Sector
AI-powered solutions to help government SELECT CUSTOMERS agencies and law enforcement to Public Sector automate processes, enhance compliance, and improve operational efficiency Veritone’s public sector offerings greatly accelerate workflows for law enforcement, government, and public safety agencie
Slide 15: Supplemental Financial Information
Supplemental Financial Information Copyright © 2024 Veritone, Inc. All rights reserved.
Slide 16: Supplemental Financial Information
Supplemental Financial Information Our customer composition is diverse and includes various segments across our verticals, each with different purchasing trends and pricing models. In order to provide enhanced visibility into our growth composition and broad customer base, we have added ARR as a key
Slide 17: Financial Results for the Three and Nine Months Ended September 30, 2024
Financial Results for the Three and Nine Months Ended September 30, 2024 (Preliminary Unaudited) and 2023 (Historical Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2024 $ in Millions 2023 2023 (Preliminary) (Preliminary) Revenue $21.9 - $22.1 $28.0 $73.3 - $73.6 $7
Slide 18: Income from Discontinued Operations, Net of Income Taxes
Income from Discontinued Operations, Net of Income Taxes for the Three and Nine Months Ended September 30, 2024 (Preliminary Unaudited) and 2023 (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2024 $ in Millions 2023 2023 (Preliminary) (Preliminary Revenue $8.5 - $8
Slide 19: Reconciliation GAAP Net Loss to Non-GAAP Net Loss
Reconciliation GAAP Net Loss to Non-GAAP Net Loss (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2024 $ in Millions 2023 2023 (Preliminary) (Preliminary) Net Loss ($21.6) - ($22.5) ($24.5) ($68.8) - ($70.7) ($70.8) Income from discontinued operations, net of income
Slide 20: Reconciliation of GAAP Income from Discontinued Operations to Non-GAAP
Reconciliation of GAAP Income from Discontinued Operations to Non- GAAP Net Income From Discontinued Operations (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2024 $ in Millions 2023 2023 (Preliminary) (Preliminary) Income from discontinued operations, net of incom
Slide 21: Reconciliation of Expected GAAP Net Loss Range to Expected Non-GAAP Loss Range
Reconciliation of Expected GAAP Net Loss Range to Expected Non-GAAP Loss Range (Unaudited) Year Ended December 31, $ in Millions 2024 2025 Net Loss ($53.2) - ($48.4) ($77.7) - ($64.5) Income from discontinued operations, net of income taxes (34.1) - (35.3) - (Benefit from) provision for income taxes
Slide 22: Reconciliation of Expected GAAP Net Income from Discontinued Operations Range
Reconciliation of Expected GAAP Net Income from Discontinued Operations Range to Expected Non-GAAP Net Income From Discontinued Operations Range (Unaudited) Twelve Months Ended December 31, $ in Millions 2024 2025 Net Income from discontinued operations ($34.1) - ($35.3) - (Benefit from) provision f
Slide 23: Thank you.
Thank you. Copyright © 2024 Veritone, Inc. All rights reserved.