Slide 1: Investor Presentation
Investor Presentation August 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”) 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: Software Products
Slide 4: Earnings Results Snapshot
Earnings Financials Results $31.0M 2Q24 Total Revenue $15.6M 2Q24 Software Products & $46.0M Cash & Cash Equivalents as of Snapshot Services Revenue 6/30/2024(2)) KPIs Key indicators in 2Q24(1) 3,437 $67.9M >90% 2Q24 Total Software 2Q24 Annual 2Q24 Gross Revenue Products & Service Recurring Revenue
Slide 5: Recent Business Highlights
Recent Business AUG 01 Veritone Appoints Gus Hunt as Public Sector Advisor Highlights Announced the appointment of Gus Hunt as an advisor for its public sector division. Hunt, a renowned technology and intelligence expert and former Chief Technology Officer for the U.S. Central Intelligence Agency (
Slide 6: Veritone's Growth Drivers
DOUBLE DOWN ON CORE CAPITALIZE ON DATA & VERTICALS INTEGRATION CAPABILITIES • Deepen exposure to industries we • Deliver product ecosystem designed to serve drive operational efficiencies, accelerate decision making and increase profitability • Leverage track record of AI partner model success to in
Slide 7: Empowering a rapidly growing partner & customer ecosystem
Empowering a rapidly growing partner & customer ecosystem. Copyright © 2024 Veritone, Inc. All rights reserved. 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 Towards Enterprise AI Market applications for Artificial Intelligence (AI) Profitability Through Strategic and Driving Enterprise AI Transformation Organic Opportunities Critical Enterprise Solutions Foun
Slide 9: aiWARE platform: One platform. Endless possibilities.
One platform. aiWARE platform Endless Application Layer INDUSTRY APPLICATIONS possibilities. AUTOMATE STUDIO Integration Layer APIs Data search & indexing layer Our aiWARE platform is the foundation upon which Veritone delivers human-centered AI solutions that enable customers to KERNEL INTELLIGENT
Slide 10: A decade of leading the way
• Acquires Machine Box; company exceeds 300 full-time employees • aiWARE applications include IDentify, Redact and Attribute • Launches AI A decade • Acquires Performance Bridge Media Consulting & • Acquires Wazee Digital Services Group • First $1M quarter for aiWARE • Anaheim PD becomes first gover
Slide 11: Target Market Verticals
Target Market Verticals Public Sector Enterprise 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 content to scale process with AI
Slide 12: Media + Entertainment
From clips and content to SELECTED CUSTOMERS Media + Entertainment 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, produ
Slide 13: Hire: AI that helps people find more great people
SELECTED CUSTOMERS 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 efficien
Slide 14: Public Sector: Less taskwork. More time to serve.
Less taskwork. SELECTED CUSTOMERS Public Sector 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. iD
Slide 15: Financial Update
Financial Update Copyright © 2024 Veritone, Inc. All rights reserved.
Slide 16: 2Q24 Financial Highlights
2Q24 Financial Highlights $ in Millions QUARTERLY REVENUE* ANNUAL RECURRING REVENUE (ARR)* $35.1 $107.9 $34.2 $31.6 $31.0 $98.6 $28.0 $82.1 $72.1 $67.9 2Q23 3Q23 4Q23 1Q24 2Q24 2Q23 3Q23 4Q23 1Q24 2Q24 Total Software Products & Gross Revenue Retention(1) Revenue CAGR (2017-2024E)(2) Services Custome
Slide 17: Quarterly Key Performance Indicators
Quarterly Key Performance Indicators Three Months Ended Three Months Ended Percent Change June 30, 2024 June 30, 2023* $ in Thousands Revenue $30,992 $27,967 11% Loss from Operations $(17,662) $(28,180) (37)% Net Loss $(22,231) $(23,296) (5)% Non-GAAP Gross Profit(1) $24,412 $20,202 21% Non-GAAP Net
Slide 18: 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)* 3% SaaS Revenue as % of Total A
Slide 19: Software Products & Services
Software Products & Services 2Q HIGHLIGHTS • Revenue of $15.6 million, increased 11% YoY largely driven REVENUE PERFORMANCE by the 2Q23 acquisition of $ in Millions Broadbean, partially offset by the decline in legacy Veritone Hire revenue, including Amazon. $20.4 $19.8 $1.5 • New bookings of $14.0
Slide 20: Managed Services
Managed Services 2Q HIGHLIGHTS REVENUE PERFORMANCE $ in Millions • Revenue of $15.4 million, increased 11% YoY. $16.4 • Average billings per $14.8 $15.4 $14.4 active Managed Services $13.9 $5.4 customer of $727,000(1), $4.8 $4.5 $4.9 improving 26% from 2Q23. $5.5 • Managed Services benefits from adv
Slide 21: Balance Sheet Summary
Balance Sheet Summary As of June 30, 2024 As of June 30, 2023 $ in Thousands Cash and Cash Equivalents $46,024 $62,674 Current Assets $141,910 $152,422 Total Assets $321,802 $355,922 Current Liabilities $175,139 $161,340 Total Liabilities $327,496 $316,869 Stockholders’ Equity $(5,694) $39,053 Commo
Slide 22: Appendix
Appendix Copyright © 2024 Veritone, Inc. All rights reserved.
Slide 23: 3Q24 and FY24 Guidance
3Q24 and FY24 Guidance Revenue and Non-GAAP Net Loss $ in Thousands 3Q24 E Revenue 34,500 (1) Non-GAAP Net Loss (3,300) $ in Thousands FY24 E Revenue 139,000 (2) Non-GAAP Net Loss (13,000) (1) See page 24 for reconciliation. (2) See page 25 for reconciliation. Note: GAAP net loss and non-GAAP net in
Slide 24: Quarterly GAAP to Non-GAAP Reconciliation (Unaudited)
Quarterly GAAP to Non-GAAP Reconciliation (Unaudited) $ in Thousands 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 E GAAP net income (loss) $ (23,296) $ (24,541) $ 12,175 $ (25,198) $ (22,231) $ (15,365) Interest expense, net 720 218 704 3,991 4,497 4,065 (Benefit from) provision for income taxes (1,374) (977
Slide 25: Annual GAAP to Non-GAAP Reconciliation (Unaudited)
Annual GAAP to Non-GAAP Reconciliation (Unaudited) $ in Thousands FY20 FY21 FY22 FY23 FY24E GAAP net loss $ (47,876) $ (64,672) $ (25,557) $ (58,625) $ (70,200) Interest expense, net 9 538 4,350 2,448 16,600 (Benefit from) provision for income taxes 76 2,699 2,309 (3,048) (800) Depreciation and amor
Slide 26: Reconciliation of Non-GAAP Gross Profit to Loss from Operations
Reconciliation of Non-GAAP Gross Profit to Loss from Operations As of June 30, 2024 As of June 30, 2023 $ in Thousands Loss from operations $(17,662) $(28,180) Sales and marketing $12,674 $13,124 Research and development $6,645 $10,519 General and administrative $16,765 $19,025 Amortization $5,990 $
Slide 27: Second Quarter 2024 Revenue Summary
Second Quarter 2024 Revenue Summary 2Q24 CHANGE $ in Thousands 2Q23 1Q24 2Q24 Q/Q Y/Y Commercial Enterprise Software Products & Services $12,492 $13,703 $14,510 6% 16% Managed Services $13,874 $16,416 $15,360 (6)% 11% Subtotal 26,366 $30,119 29,870 (1)% 13% Government & Regulated Industries Software
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.