Slide 1: Investor Presentation
Investor Presentation May 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: Customers: 2014 V
Slide 4: Earnings Results Snapshot
Earnings Financials Results $32M 1Q24 Total Revenue $15M 1Q24 Software Revenue $91M Cash & Cash Equivalents as of Snapshot 3/31/2024(2)) KPIs Key indicators in 1Q24(1) 3,384 $72M >90% 1Q24 Total Software 1Q24 Annual 1Q24 Gross Revenue Products & Service Recurring Revenue Retention(3)) Customers(3))
Slide 5: Recent Business Highlights
Veritone Clinches 2024 NAB Product of the APR Year Award for a Fifth Time with Generative Recent Business 4 AI Solution For the fifth time, Veritone won NAB Product of the Year for the company’s recently launched Ask Veri. This is the fourth time Veritone Highlights received top billing in the AI/ML
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. aiWARE platform Endless Application Layer INDUSTRY APPLICATIONS possibilities. AUTOMATE STUDIO Integration Layer APIs Our aiWARE platform is the foundation upon which Veritone Data search & indexing layer 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 Consulting & A decade • Acquires Performance Bridge Media • Acquires Wazee Digital Services Group • First $1M quarter for aiWARE • Anaheim PD becomes first gover
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: 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. 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: 1Q24 Financial Highlights
1Q24 Financial Highlights $ in Millions QUARTERLY REVENUE* ANNUAL RECURRING REVENUE (ARR)* $112.7 $107.9 $35.1 $34.2 $31.6 $98.6 $30.3 $28.0 $82.1 $72.1 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 Total Software Products & Gross Revenue Retention(1) Revenue CAGR (2017-2024E)(2) Services Custom
Slide 17: Quarterly Key Performance Indicators
Quarterly Key Performance Indicators Three Months Ended Three Months Ended Percent Change March 31, 2024 March 31, 2023* $ in Thousands Revenue $31,636 $30,263 5% Loss from Operations $(21,840) $(23,589) 7% Net Loss $(25,198) $(22,963) (10)% Non-GAAP Gross Profit $24,590 $23,454 5% Non-GAAP Net Loss
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)* $112.7* SaaS Revenue as % of To
Slide 19: Software Products & Services
Software Products & Services 1Q HIGHLIGHTS • Revenue of $15.2* million, increased 8% YoY REVENUE PERFORMANCE* largely driven by Veritone Hire, $ in Millions which improved $1.1 million as compared to 1Q23, offset by the expected decline in legacy $20.4 Veritone Hire revenue over the $19.8 $1.5 same
Slide 20: Managed Services
Managed Services 1Q HIGHLIGHTS REVENUE PERFORMANCE $ in Millions • Revenue of $16.4 million, increased 2% YoY. $16.1 $16.4 • Advertising gross billings $14.8 $14.4 per active client of $13.9 $5.4 $793,000(1), improving 3% $5.6 $4.8 $4.5 from 1Q23. $5.5 • Managed Services benefits from advertising re
Slide 21: Balance Sheet Summary
Balance Sheet Summary As of March 31, 2024 As of March 31, 2023 $ in Thousands Cash and Cash Equivalents $90,733 $79,439 Current Assets $172,369 $182,770 Total Assets $359,641 $375,814 Current Liabilities $197,671 $188,825 Total Liabilities $344,776 $337,667 Stockholders’ Equity $14,865 $38,147 Comm
Slide 22: Appendix
Appendix Copyright © 2024 Veritone, Inc. All rights reserved.
Slide 23: 2Q24 and FY24 Guidance
2Q24 and FY24 Guidance Revenue and Non-GAAP Net Loss $ in Thousands 2Q24 E Revenue 31,500 (1) Non-GAAP Net Loss (6,000) $ 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 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 E GAAP net loss $ (22,963) $ (23,296) $ (24,541) $ 12,175 $ (25,198) $ (19,000) Interest expense, net 805 720 218 704 3,991 4,000 Provision for income taxes (271) (1,374) (977) (426) (1,045) (
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) $ (70,600) Interest expense, net 9 538 4,350 2,448 16,500 Provision for (benefit from) income taxes 76 2,699 2,309 (3,048) (3,000) Depreciation and am
Slide 26: First Quarter 2024 Revenue Summary
First Quarter 2024 Revenue Summary 1Q24 CHANGE $ in Thousands 1Q23 4Q23 1Q24 Q/Q Y/Y Commercial Enterprise Software Products & Services $12,732 $18,301 $13,703 (25)% 8% Managed Services $16,136 $14,376 $16,416 14% 2% Subtotal $28,868 $32,677 $30,119 (8)% 4% Government & Regulated Industries Software
Slide 27: 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 28: Thank you.
Thank you. Copyright © 2024 Veritone, Inc. All rights reserved.