Slide 1: Investor Presentation
Investor Presentation April 2024 Copyright Copyright ©©2024 2024Veritone, Veritone,Inc. Inc.All Allrights rightsreserved. reserved.Trademarks Trademarksare arethe theproperty propertyof oftheir theirrespective respectiveowners. 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. Without limiting the generality of the foregoi
Slide 3: The Enterprise AI Company That Makes Humans Even Better
The Enterprise AI Company That Makes Humans Even Better Veritone is a leading enterprise AI software, applications and services provider with one mission – to advance the capabilities of AI to empower people to do more than they ever thought possible. Founded in NASDAQ: Employees: Customers: 2014 VE
Slide 4: Earnings Results Snapshot
FINANCIALS $34M $20M $79M 4Q23 4Q23 Cash & Cash Total Revenue Software Revenue Equivalents as of 12/31/2023 Earnings Results $128M $83M Snapshot FY23 Total Revenue FY23 Pro-Forma Software Revenue(1)) KEY INDICATORS IN 4Q23 & FY23 KPIs 3,460 $82M >90% 4Q23Total Software 4Q23 Annual 4Q23 Gross Revenue
Slide 5: Recent Business Highlights
Recent Business FEB 21 Veritone Announces Restructuring Initiatives Highlights Announced restructuring of organization in Q1 2024, resulting in forecasted annualized savings of 15% of operating expenses, accelerating projected near- term cash flow profitability to as early as 4Q24. These initiatives
Slide 6: Veritone's Growth Drivers
DOUBLE DOWN ON CORE CAPITALIZE ON DATA & INTEGRATION VERTICALS CAPABILITIES • Deepen exposure to industries we serve • Deliver best-in-class ecosystem to drive operational efficiencies, accelerate decision • Leverage track record of AI partner model making and increase profitability success to incre
Slide 7: An Ever-Expanding Partner & Customer Ecosystem
An Ever-Expanding Partner & Customer Ecosystem 7 Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.
Slide 8: Investment Highlights
Investment Highlights Large & Growing A Leading Operating System and Focused Growth and Pathway Enterprise AI Market applications for Artificial Intelligence (AI) Towards Profitability Through Strategic Driving Enterprise AI Transformation and Organic Opportunities Critical Enterprise Solutions Foun
Slide 9: Extensible AI Platform Accelerating Digital Transformation
Extensible AI Platform Accelerating Veritone’s proven Enterprise AI platform, aiWARETM, Digital Transformation 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: A decade of leading the way
• Acquires Machine Box; company exceeds 300 full-time employees A decade • aiWARE applications include IDentify, Redact and Attribute • Acquires Performance Bridge Media • Acquires Wazee Digital • First $1M quarter for aiWARE of leading • Anaheim PD becomes first government agency to use aiWARE; lau
Slide 11: Target Market Verticals
Target Market Verticals GOVERNMENT & REGULATED INDUSTRIES (GRI) COMMERCIAL Media & Entertainment Hire Public Sector CREATE ATTRACT DEPLOY Automated content creation, interactive Automate and optimize the job advertising Suite of AI-enabled solutions enables fast and storytelling and real-time conten
Slide 12: Veritone Media & Entertainment
Veritone Media & SELECTED CUSTOMERS Entertainment FROM CLIPS & CONTENT TO REAL VALUE AND REVENUE Veritone Media & Entertainment empowers leaders in media, entertainment, sports and broadcast to unlock human potential through AI solutions, services and technologies. Creators, advertisers, podcasters,
Slide 13: Veritone Hire
SELECTED CUSTOMERS Veritone Hire AI THAT HELPS PEOPLE FIND MORE GREAT PEOPLE Veritone Hire is redefining recruiting and talent acquisition by combining global job distribution tools with programmatic advertising AI technology to optimize customers' recruiting strategies, reduce their costs, improve
Slide 14: Veritone GRI
SELECTED CUSTOMERS Veritone GRI LESS TASKWORK. MORE TIME TO SERVE. Veritone’s Intelligent Digital Evidence Systems (“iDEMS”), is one of the industry’s first cloud-based digital evidence management solutions that integrates AI to help public safety and judicial agencies accelerate investigations. iDE
Slide 15: Financial Update
Financial Update Copyright Copyright ©©2024 2024Veritone, Veritone,Inc. Inc.All Allrights rightsreserved. reserved.Trademarks Trademarksare arethe theproperty propertyof oftheir theirrespective respectiveowners. owners.
Slide 16: 4Q23 Financial Highlights
4Q23 Financial Highlights $ in Million QUARTERLY REVENUE* ANNUALIZED RECURRING REVENUE (ARR)* $43.9 $129.0 $118.0 $112.7 $37.2 $107.9 $35.1 $34.2 $98.6 $30.3 $28.0 $82.1 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 Total Software Products & Gross Revenue Retention(1) Revenue CAGR (201
Slide 17: Quarterly Key Performance Indicators
Quarterly Key Performance Indicators Three Months Ended Three Months Ended Percent Change December 31, 2023 December 31, 2022 $ in Thousands Revenue $34,197 $43,890 (22)% Loss from Operations $(17,505) $(9,951) 76% Net Loss $12,175 $5,032 NM Non-GAAP Gross Profit $27,702 $37,183 (25)% Non-GAAP Net I
Slide 18: Yearly Key Performance Indicators
Yearly Key Performance Indicators* Year Ended December Year Ended December Percent Change 31, 2023 31, 2022 $ in Thousands Revenue $127,560 $149,728 (15)% Annual Recurring Revenue* $82,128 $118,002 (30)% Loss from Operations $(92,336) $(37,995) NM Net Income $(58,625) $(25,557) NM Non-GAAP Gross Pro
Slide 19: Diverse Revenue Mix
Diverse Revenue Mix SaaS and consumption-based sales model provides earnings stability and flexibility to contract with companies of various sizes and preferences across industries. $ in Millions Annual Recurring Revenue (SaaS)* Annual Recurring Revenue (Consumption)* SaaS Revenue as % of Total ARR
Slide 20: Software Products & Services
Software Products & Services 4Q HIGHLIGHTS REVENUE PERFORMANCE • Revenue of $19.8 million, $ in Millions largely due a decline of $5.5 million $27.2 in certain one-time non-recurring $1.2 revenue in 4Q22 as compared 4Q23, coupled with the net decline $20.8 of $1.9 million in Veritone Hire, $20.4 $19
Slide 21: Managed Services
Managed Services 4Q HIGHLIGHTS REVENUE PERFORMANCE • Revenue of $14.4 million, $ in Millions declined 14% YoY driven by lower advertising spend. $16.4 $16.7 $16.1 $15.9 • Advertising gross billings per $14.8 $14.4 active client(1) of $647,000, down $4.6 $13.9 $5.4 $5.6 21% from 4Q22. $5.2 $4.8 $4.5
Slide 22: Balance Sheet Summary
Balance Sheet Summary As of December 31, 2023 As of December 31, 2022 $ in Thousands Cash and Cash Equivalents $79,439 $184,423 Current Assets $182,770 $278,005 Total Assets $375,814 $424,752 Current Liabilities $188,825 $193,323 Total Liabilities $337,667 $344,901 Stockholders’ Equity $38,147 $79,8
Slide 23: Appendix
Appendix Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.
Slide 24: Quarterly GAAP to Non-GAAP Reconciliation (Unaudited)
Quarterly GAAP to Non-GAAP Reconciliation (Unaudited) $ in Thousands 3Q22 4Q23 1Q23 2Q23 3Q23 4Q23 1Q25 E GAAP net loss $ (4,886) $ 4,711 $ (22,963) $ (23,296) $ (24,541) $ 12,175 $ (19,300) Interest expense, net 1,305 680 805 720 218 704 1,600 Provision for (benefit from) income taxes 26 3,751 (2
Slide 25: Annual GAAP to Non-GAAP Reconciliation (Unaudited)
Annual GAAP to Non-GAAP Reconciliation (Unaudited) $ in Thousands FY19 FY20 FY21 FY22 FY23 FY24E GAAP net loss $ (62,078) $ (47,876) $ (64,672) $ (25,557) $ (58,625) $ (55,150) Interest expense, net - 9 538 4,350 2,448 6,500 Provision for (benefit from) income taxes (1,452) 76 2,699 2,309 (3,048) (3
Slide 26: Revenue to Non-GAAP Reconciliation (Unaudited)
Revenue to Non-GAAP Reconciliation (Unaudited) $ in Thousands FY24 E Revenue $ 138,000 Cost of Revenue (30,400) Non-GAAP Gross Profit $ 107,600 Non-GAAP Gross Margin 78% $ in Thousands FY24 E Revenue $ 138,000 (1) Non-GAAP Net Loss (12,950) Non-GAAP Net Loss Margin (9.4)% (1) See page 25 for reconci
Slide 27: Fourth Quarter 2023 Revenue Summary
Fourth Quarter 2023 Revenue Summary 4Q23 CHANGE $ in Thousands 4Q22 3Q23 4Q23 Q/Q Y/Y Commercial Enterprise Software Products & Services $26,055 $18,885 $18,301 (3)% (30)% Managed Services $16,670 $14,772 $14,376 (3)% (14)% Subtotal $42,725 $33,657 $32,677 (3)% (24)% Government & Regulated Industrie
Slide 28: 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 29: Thank you
Thank you Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.