Slide 1: Investor Presentation
Investor Presentation November 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 $22.0M 3Q24 Total Revenue $14.7M 3Q24 Software Products & $46.9M Cash & Cash Equivalents as of Snapshot Services Revenue 9/30/2024(2)) KPIs Key indicators in 3Q24(1) 3,291 $63.3M >90% 3Q24 Total Software 3Q24 Annual 3Q24 Gross Revenue Products & Services Recurring Revenue
Slide 5: Transaction Overview
Transaction Overview October 2024 Divestiture of Media Agency For Total Consideration up to $104 Million Veritone One Divestiture Highlights • Divestiture of non-core asset from Veritone focus on AI software, products and services • Represented 24% of Veritone trailing revenue for the nine months en
Slide 6: Simplified & focused on Enterprise AI
Simplified & focused on Enterprise AI Founded in 2014 What We Sell Who We Sell To NASDAQ: Commercial VERI Software 33 • Pre-built AI applications • Industry and use case specific • Leverages aiWARE platform Issued U.S. Patents + 14 U.S. Pending Applications(1) Solutions • Custom built AI application
Slide 7: 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 8: Our Platform Solution: Veritone aiWARE
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 9: How we do it.
How we do it. Copyright © 2024 Veritone, Inc. All rights reserved. 9
Slide 10: Key Competitive Advantages
Key Competitive Advantages 1 2 3 Proprietary AI Operating AI Deployment Across AI-Ready Infrastructure – System - aiWARE Multiple Verticals Cloud Agnostic & Scalable • Multi-Engine Platform: Combines over 300 • Media & Entertainment: Automated metadata • Works seamlessly across major cloud cognitive
Slide 11: Commercial Enterprise
Our AI applications and custom-built SELECT CUSTOMERS Commercial Enterpise 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 applicat
Slide 12: 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 13: Empowering a robust partner & customer ecosystem.
Empowering a robust partner & customer ecosystem. Copyright © 2024 Veritone, Inc. All rights reserved. 13 Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.
Slide 14: 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 • Complete • Anaheim PD becomes
Slide 15: Recent Business Highlights
Recent Business SEP 26 Midwest Public Safety Partners with Veritone to Offer a Full Lineup of AI-powered Applications for Law Enforcement Highlights Announced a partnership with Midwest Public Safety, a premier provider of public safety technology solutions. Through this collaboration, Midwest Publi
Slide 16: Financial Update
Financial Update Copyright © 2024 Veritone, Inc. All rights reserved.
Slide 17: 3Q24 Financial Highlights
3Q24 Financial Highlights $ in Millions REVENUE YEAR-OVER-YEAR ANNUAL RECURRING REVENUE (ARR) $72.9 $70.2 $89.3 $80.1 $72.6 $67.9 $63.3 $28.0 $22.0 3Q23 3Q24 YTD 3Q23 YTD 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24 Total Software Products & Gross Revenue Retention(1) Revenue CAGR (2017-2024E)(2) Services Customer
Slide 18: Quarterly Key Performance Indicators
Quarterly Key Performance Indicators Three Months Ended Three Months Ended Percent Change September 30, 2024 September 30, 2023 $ in Thousands Revenue $21,993 $27,968 (21%) Loss from Operations ($22,492) ($25,183) 11% Net Loss ($21,746) ($24,541) 11% Non-GAAP Gross Profit(1) $15,668 $20,942 (25)% No
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) 1% SaaS Revenue as % of Total ARR
Slide 20: Software Products & Services
Software Products & Services 3Q HIGHLIGHTS • Revenue of $20.4 million, down $5.8 million from Q3 2023 REVENUE PERFORMANCE principally due to a decreased $ in Millions revenue from one-time software sales and from consumption- based customers, including $28.0 Amazon. $1.5 • New bookings of $16.5 $22.
Slide 21: Managed Services
Managed Services 3Q HIGHLIGHTS REVENUE PERFORMANCE $ in Millions • Revenue of $7.3 million, decreased 4% YoY. $7.6 $7.3 • Average billings per active Managed Services customer of $838,000(1), improving 35% from 3Q23. $4.8 $4.6 $2.8 $2.7 3Q23 3Q24 3Q24 YoY Change Licensing (4.4%) Representation Servi
Slide 22: Balance Sheet Summary
Balance Sheet Summary Three Months Ended Three Months Ended September 30, 2024 September 30, 2023 $ in Thousands Cash and Cash Equivalents $11,422 $72,070 Current Assets $165,415 $161,387 Total Assets $336,425 $359,423 Current Liabilities $249,287 $186,243 Total Liabilities $361,586 $340,720 Stockho
Slide 23: Appendix
Appendix Copyright © 2024 Veritone, Inc. All rights reserved.
Slide 24: FY24 and FY25 Guidance
FY24 and FY25 Guidance Revenue and Non-GAAP Net Loss $ in Thousands FY24 E Revenue $92.5 - $93.5M (1) Non-GAAP Net Loss $(37.5) - $(36.5)M $ in Thousands FY25 E Revenue $107.0 - $122.0M Non-GAAP Net Loss $(25.0) - $(15.0)M (1) See page 25 for reconciliation. Note: GAAP net loss and non-GAAP net inco
Slide 25: Quarterly GAAP to Non-GAAP Reconciliation (Unaudited)
Quarterly GAAP to Non-GAAP Reconciliation (Unaudited) $ in Thousands 3Q23 3Q24 GAAP net income (loss) $ (24,543) $ (21,746) Income from discontinued operations, net of income tax (2,191) (765) Interest expense, net 314 2,987 (Benefit from) provision for income taxes (1,003) (2,575) Depreciation a
Slide 26: Annual GAAP to Non-GAAP Reconciliation (Unaudited)
Annual GAAP to Non-GAAP Reconciliation (Unaudited) $ in Thousands FY24E GAAP net loss $(70,239) Interest expense, net 16,600 (Benefit from) provision for income taxes (800) Depreciation and amortization 30,000 Stock-based compensation expense 6,700 (1) Severance and executive transition costs 3,749
Slide 27: Reconciliation of Non-GAAP Gross Profit to Loss from Operations
Reconciliation of Non-GAAP Gross Profit to Loss from Operations Three Months Ended: Three Months Ended: September 30, 2024 September 30, 2023 $ in Thousands Loss from operations $(22,492) $(25,183) Sales and marketing $10,186 $10,997 Research and development $7,528 $10,410 General and administrative
Slide 28: Third Quarter 2024 Revenue Summary
Third Quarter 2024 Revenue Summary 3Q24 CHANGE $ in Thousands 3Q23 3Q24 Q/Q Y/Y Commercial Enterprise Software Products & Services $18,885 $13,098 (10)% (31)% Managed Services $7,607 $7,299 (52)% (4)% Subtotal $26,492 $20,397 (32)% (23)% Public Sector Software Products & Services $1,476 $1,596 42% 8
Slide 29: 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 30: Thank you.
Thank you. Copyright © 2024 Veritone, Inc. All rights reserved.