Veritone, Inc. · NASDAQ:VERI
Veritone — Investor Presentation (March 2022)
31 slides from Veritone's investor presentation, Mar 3, 2022
Slide 1: aiWARE: The Leading Enterprise AI Platform
aiWARE : The Leading Enterprise AI Platform Investor Presentation Deck March 2022 Copyright © 2022 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. Copyright © 2022 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property
Slide 2: Forward Looking Statements & Disclaimers
Forward Looking Statements & Disclaimers This presentation of Veritone, Inc. (the “Company”) contains forward-looking statements that involve substantial risks and uncertainties. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potent
Slide 3: Veritone – A Leader in Enterprise AI
Veritone – A Leader in Enterprise AI Founded in 2014 Veritone is a leader in enterprise AI software, services, and applications, helping companies NASDAQ: transform their operations and solve the complexities of digital information today. With our AI solutions and rich partner ecosystem, our custome
Slide 4: Veritone at a Glance
Veritone at a Glance Overview Key Indicators Seeing Momentum • Veritone’s operating system for artificial intelligence, aiWARETM, Financials orchestrates a diverse ecosystem of machine learning models to $55.1M +814% $17M transform audio, video, text, and other unstructured data sources into +228% Y
Slide 5: Recent Business Momentum and Key Wins
Recent Business Momentum and Key Wins 11.2021 10.2021 02.2022 11.2021 Selected by the Department Multi-Cloud FedRAMP of Defense 2021 NAB Show Product of Named Winner in the 2021 Authorization To Operate Selected by the Department of Defense to the Year Award Deloitte Technology Fast 500 Across Entir
Slide 6: Investment Highlights
Investment Highlights Unique Operating System for Artificial Intelligence (AI) Driving Enterprise AI Transformation Extensible Platform Supported by Large and Growing $100 Billion Enterprise AI Market(1) Sustained Growth Through Product Innovation and Accelerated by Strategic Inorganic Opportunities
Slide 7: Veritone Mission
Veritone Mission Veritone is a leading enterprise AI software and services provider that activates the digital transformation of organizations. Our mission is to simply create a better world. One that is safe, dynamic, transparent, and innovative. The proven AI platform, aiWARE, the first proprietar
Slide 8: AI is Alive with aiWARE
AI is Alive with aiWARE Copyright © 2022 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. NASDAQ: VERI 8
Slide 9: Extensible AI Platform Accelerating Digital Transformation
Extensible AI Platform Accelerating Digital Transformation Veritone’s proven Enterprise AI platform, aiWARETM, 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: Economic Laws Apply to All Engines/ML Models
Economic Laws Apply to All Engines/ML Models Copyright © 2022 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. NASDAQ: VERI 10
Slide 11: Investment Thesis
Investment Thesis Copyright Copyright©©2022 2021Veritone, Veritone,Inc. Inc.All Allrights rightsreserved. reserved.CONFIDENTIAL. CONFIDENTIAL.Trademarks Trademarksare arethe theproperty propertyofoftheir theirrespective respectiveowners. owners. NASDAQ: VERI 11
Slide 12: Unstructured Data Presents Large Market Opportunity
Unstructured Data Presents Large Market Opportunity $100B TAM by 2025 | 35% CAGR* * Source: Omdia Artificial Intelligence Software Market Forecast, June 29, 2020 ** Source: Gartner 2020 Strategic Roadmap for Storage, July 1, 2020 Copyright © 2022 Veritone, Inc. All rights reserved. CONFIDENTIAL. Tra
Slide 13: Strategic Product Growth Accelerated by Inorganic Expansion
Strategic Product Growth Accelerated by Inorganic Expansion Launched aiWARETM 3.0 (Dynamic scaling enabling versatile deployment) Launched aiWARETM 2.0 (real-time processing) • 3.0 Vastly improved stability, efficiency and performance • 2.0 enables expansion of market • Announced support for opportu
Slide 14: Enterprise AI Platform with Customer-Focused Alignment
Enterprise AI Platform with Customer-Focused Alignment ENTERPRISE AI $100B TAM by 2025 | 35% CAGR(1) COMMERCIAL ENTERPRISE GOVERNMENT & REGULATED INDUSTRIES SOLUTIONS SERVICES ENERGY GOVERNMENT, LEGAL & COMPLIANCE Solutions Services Solutions Services Data Insight Veritone One Real-Time Forecasting
Slide 15: Commercial Enterprise Solutions
Commercial Enterprise Solutions Built to Solve Your Business Challenges SELECTED CUSTOMERS Veritone is helping some of the world’s most recognizable brands accelerate the gap between traditional enterprise software and cognitive insights enabled by AI solutions and bespoke applications, empowering g
Slide 16: Government and Regulated Industries
Government and Regulated Industries Government Solutions Veritone works with some of the largest federal, state, and local government SELECTED CUSTOMERS agencies, solving problems of transparency, compliance, and inefficiencies with AI solutions and bespoke applications Data Insight Redaction Gain v
Slide 17: Government and Regulated Industries (Cont'd)
Government and Regulated Industries (Cont’d) Energy Solutions Veritone is empowering energy companies with the technology to prepare for SELECTED PARTNERS changing business models and help the world obtain more efficient energy systems and infrastructure Real-time Forecasting Distributed Energy Reso
Slide 18: Founder-Led Visionary "Data-Centric" Team
Founder-Led Visionary “Data-Centric” Team CHAD STEELBERG RYAN STEELBERG MIKE ZEMETRA Co-founder, CEO & Chairman of the Board Co-founder, President Executive Vice President & Chief Financial Officer ▪ Board Member – Brand Affinity Technologies ▪ CEO & President - Brand Affinity Technologies ▪ CFO – L
Slide 19: Financial Update
Financial Update Copyright Copyright©©2022 2021Veritone, Veritone,Inc. Inc.All Allrights rightsreserved. reserved.CONFIDENTIAL. CONFIDENTIAL.Trademarks Trademarksare arethe theproperty propertyofoftheir theirrespective respectiveowners. owners. NASDAQ: VERI 19
Slide 20: Robust & Consistent Prior Financial Performance
Robust & Consistent Prior Financial Performance Track Record of Driving Sustained Growth(1) Attractive Financial Profile: Growth & Profitability(2) ($ in Millions) 200 Pro Forma 2021 Financial Metrics $185E 180 Total Revenue Growth (Y/Y) 41% Top Line 160 140 Software Product & Services Growth (Y/Y)
Slide 21: Business and Financial Momentum
Business and Financial Momentum Trailing 5 Quarters Financial Performance Q4’21 Results Summary ($ in Millions) Robust Revenue Growth… 60 $55.1 Quarterly Revenue Performance ($ in Millions) 50 60 $55 50 40 40 $33 30 $40.2 $23 $18 $19 30 20 10 $22.7 0 20 $16.8 Q1 '21 Q2 '21 Q3 '21 Q4 '21 Q1 '222E $9.
Slide 22: Fourth Quarter 2021 Results – Summary
Fourth Quarter 2021 Results – Summary Q4’21 CHANGE ($ in Thousands) Q4’20 Q3’21 Q4’21 Q/Q Y/Y Commercial Enterprise Software Products & Services $3,030 $8,069 $38,889 382% 1,183% Managed Services $12,416 $13,627 $14,926 10% 20% Subtotal $14,829 $21,697 $53,815 148% 248% Government & Regulated Indust
Slide 23: Balance Sheet Summary
Balance Sheet Summary ($ in Thousands) December 31, 2021 Cash and Cash Equivalents $254,712 Current Assets $380,787 Total Assets $507,153 Current Liabilities $203,790 Total Liabilities $410,190 Stockholders’ Equity $96,963 Common Shares Outstanding 34,972,256 (excluding options, RSUs and warrants as
Slide 24: Appendix
Appendix Copyright Copyright©©2022 2021Veritone, Veritone,Inc. Inc.All Allrights rightsreserved. reserved.CONFIDENTIAL. CONFIDENTIAL.Trademarks Trademarksare arethe theproperty propertyofoftheir theirrespective respectiveowners. owners. NASDAQ: VERI 24
Slide 25: The Veritone aiWARE Platform
The Veritone aiWARETM Platform Transform audio, video, text, and other data sources into actionable intelligence 3rd Party & Veritone Application Suite Custom API FAST TO MARKET “OS for AI” ecosystem of hundreds of best-of- breed, ready-to-deploy Application Layer Application Development AI engines
Slide 26: Strategic Rationale for PandoLogic
Strategic Rationale for PandoLogic Veritone has been focused on the promise of moving humans from "In the Loop" to On the Loop" Creates leading AI + Human Capital Management software and SaaS solutions for employers requiring more efficient, unbiased and scalable hiring Human involvement is required
Slide 27: PandoLogic Transaction Overview
PandoLogic Transaction Overview + Creator of the world’s first operating system for Leading provider of intelligent recruitment artificial intelligence, aiWARE™ to rapidly expanding and global markets Accretive Transaction AI-Driven Efficiency • $150 million in total value and Performance • - $50 mi
Slide 28: Nov 2021 Convertible Offering
Nov 2021 Convertible Offering • Upsized from $150M to $175.0M, plus 15% Greenshoe in Nov 2021 - Convertible Premium of 133% ($36.76/share) - Capped Call Premium of 175% ($48.55/share) - 1.75% Coupon; interest only; 3 year no call with make whole - Payable in cash or stock at Company discretion - Tot
Slide 29: Pro Forma Historical Financials
Pro Forma Historical Financials Note: Pro Forma Income Statement (unaudited) includes historical income statements of each of Veritone, Inc. and PandoLogic Ltd. for the prior seven (8) fiscal quarters and presents such information on a combined pro forma basis treating PandoLogic Ltd. as acquired an
Slide 30: Annual GAAP to non-GAAP Reconciliation
Annual GAAP to non-GAAP Reconciliation Copyright © 2022 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. NASDAQ: VERI 30
Slide 31: Quarterly GAAP to non-GAAP Reconciliation
Quarterly GAAP to non-GAAP Reconciliation VERITONE, INC. RECONCILIATION OF NON-GAAP NET LOSS TO GAAP NET LOSS (Unaudited, in thousands) Q1:2020 Q2:2020 Q3:2020 Q4:2020 Q1:2021 Q2:2021 Q3:2021 Q4:2021 Q1:2022 E GAAP net loss $ (12,684) $ (11,793) $ (11,013) $ (12,386) $ (30,567) $ (12,715) $ (11,444)