UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38093 Veritone, Inc. (Exact name of registrant as specified in its charter) Delaware 47-1161641 (State or other jurisdictio ...

Veritone, Inc. (NASDAQ:VERI) Q3 2024 Earnings Conference Call November 12, 2024 8:30 AM ET Company Participants Cate Goldsmith - Investor Relations Ryan Steelberg - Chief Executive Officer & President Mike Zemetra - Chief Financial Officer Conference Call Participants Seth Gilbert - UBS Operator Good day, and thank you for waiting. Welcome to the Veritone Inc. Third Quarter 2024 Financial Results Conference Call. [Operator Instructions] Please note that today's event is being recorded. I would now like to t ...

veritone Investor Presentation November 2024 H U M A N H U M A A A N H U M H U M H U M a N Copyright @ 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners. 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 foregoing, words su ...

Exhibit 2.1 EXECUTION VERSION CERTAIN IDENTIFIED INFORMATION MARKED BY [***] HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE OF INFORMATION THAT THE REGISTRANT CUSTOMARILY AND ACTUALLY TREATS AS PRIVATE AND CONFIDENTIAL. EQUITY PURCHASE AGREEMENT | --- | --- | --- | --- | --- | |----------|--------|------------------|--------------------|--------------------------| | | | | | | | | | | | | | | | | among: | | | Delaware | OXFORD | limited | BUYER, liability | LLC, company; ...

Cash and Cash Equivalents - Cash and cash equivalents decreased from $79.4 million to $46.0 million, a 42.1% decline[8] - Cash and cash equivalents and restricted cash decreased by $33.3 million to $47.0 million as of June 30, 2024[15] - Cash and cash equivalents decreased from $79.4 million as of December 31, 2023, to $46.0 million as of June 30, 2024[62][63] - Cash and cash equivalents decreased to $46.0 million as of June 30, 2024, from $79.4 million as of December 31, 2023, primarily due to $27.8 million used in operating activities[156] - Net decrease in cash, cash equivalents, and restricted cash was $33.3 million for the six months ended June 30, 2024, compared to $121.7 million for the same period in 2023[159] Accounts Receivable - Accounts receivable decreased from $69.3 million to $53.9 million, a 22.2% reduction[8] - Accounts receivable decreased from $70.4 million as of December 31, 2023, to $54.9 million as of June 30, 2024, with a net decrease from $69.3 million to $53.9 million after accounting for the allowance for expected credit losses[75] Revenue Growth - Revenue for Q2 2024 increased to $30.99 million from $27.97 million in Q2 2023, a 10.8% growth[9] - Total revenue for the six months ended June 30, 2024, was $62.6 million, compared to $58.2 million for the same period in 2023, with Commercial Enterprise revenue increasing from $55.2 million to $60.0 million and Public Sector revenue decreasing from $3.0 million to $2.6 million[84] - Software Products & Services revenue for the six months ended June 30, 2024, was $30.9 million, compared to $28.2 million for the same period in 2023, with Commercial Enterprise revenue increasing from $25.2 million to $28.2 million and Public Sector revenue decreasing from $3.0 million to $2.6 million[88] - Managed Services revenue for the six months ended June 30, 2024, was $31.8 million, compared to $30.0 million for the same period in 2023, with Advertising revenue increasing from $19.0 million to $21.5 million and Licensing revenue decreasing from $11.1 million to $10.3 million[88] - Revenue for the three months ended June 30, 2024 was $31.0 million, compared to $28.0 million for the same period in 2023[115] - Revenue for the six months ended June 30, 2024 was $62.6 million, compared to $58.2 million for the same period in 2023[115] - Software Products & Services revenue for the three months ended June 30, 2024 was $15.6 million, compared to $14.1 million for the same period in 2023[115] - Managed Services revenue for the three months ended June 30, 2024 was $15.4 million, compared to $13.9 million for the same period in 2023[115] - Software Products & Services revenue for the six months ended June 30, 2024 was $30.8 million, compared to $28.2 million for the same period in 2023[115] - Managed Services revenue for the six months ended June 30, 2024 was $31.8 million, compared to $30.0 million for the same period in 2023[115] - Total revenues for the three and six months ended June 30, 2024 were $31.0 million and $62.6 million, respectively, representing increases of 10.8% and 7.6% compared to the same periods in 2023[124] - Revenue for Q2 2024 increased to $30.992 billion, up 10.8% from $27.967 billion in Q2 2023[135] - Revenue increased by $3.0 million (10.8%) and $4.4 million (7.6%) in the three and six months ended June 30, 2024, respectively[155] Net Loss - Net loss for Q2 2024 improved to $22.23 million from $23.30 million in Q2 2023, a 4.6% reduction[9] - Net loss for the six months ended June 30, 2024, was $47.4 million, compared to $46.3 million for the same period in 2023[15] - Net loss for the three months ended Jun 2024 was $22,231,000, an improvement from $23,296,000 in the same period in 2023[143] - GAAP net loss for Q2 2024 was $22.231 billion, slightly better than $23.296 billion in Q2 2023[135] Research and Development Expenses - Research and development expenses decreased from $10.52 million to $6.65 million, a 36.8% reduction[9] - Research and development expenses decreased by 36.8% to $6,645,000 in the three months ended Jun 2024 compared to $10,519,000 in the same period in 2023[143] - Research and development expenses decreased by $3.9 million (36.8%) and $6.2 million (28.1%) in the three and six months ended June 30, 2024, respectively, primarily due to reduced personnel-related costs, partially offset by increased costs from the Broadbean acquisition[150] Total Assets and Liabilities - Total assets decreased from $375.8 million to $321.8 million, a 14.4% decline[8] - Total liabilities decreased from $337.7 million to $327.5 million, a 3.0% reduction[8] Stock-Based Compensation - Stock-based compensation expense for Q2 2024 was $2.23 million[10] - Stock-based compensation expense for the six months ended June 30, 2024, was $3.7 million, compared to $6.6 million for the same period in 2023[15] - Stock-based compensation expense for Q2 2024 was $2.139 million, down from $2.697 million in Q2 2023[130] - Stock-based compensation expense totaled $2,139 and $3,747 for the three and six months ended June 30, 2024, respectively, down from $2,697 and $6,614 for the same periods in 2023[102] Accumulated Deficit - Accumulated deficit increased from $429.9 million to $477.3 million, an 11.0% increase[8] - Accumulated deficit as of June 30, 2024, was $477.3 million, with negative working capital of $39.7 million[21] Weighted Average Shares Outstanding - Weighted average shares outstanding increased from 36.85 million to 37.81 million, a 2.6% increase[9] - Shares used in computing non-GAAP basic and diluted net loss per share increased to 37,814,000 in Q2 2024 from 36,849,000 in Q2 2023[135] Cash Used in Operating Activities - Cash used in operating activities for the six months ended June 30, 2024, was $27.8 million, compared to $58.5 million for the same period in 2023[15] - Operating activities used cash of $27.8 million in the six months ended June 30, 2024, primarily due to a net loss of $47.4 million, adjusted by $19.4 million in non-cash expenses[160] Depreciation and Amortization - Depreciation and amortization for the six months ended June 30, 2024, was $14.5 million, compared to $12.3 million for the same period in 2023[15] - Depreciation and amortization expenses for Q2 2024 were $6.958 million, up from $6.389 million in Q2 2023[130] - Amortization expense increased by $0.3 million (4.8%) and $0.8 million (7.5%) in the three and six months ended June 30, 2024, respectively, primarily due to the Broadbean acquisition[152] Acquisitions and Divestitures - The company acquired Broadbean, a global leader in talent acquisition software-as-a-service technology, on June 13, 2023[18] - The company acquired Broadbean for a total purchase consideration of $53,301, with $32,923 allocated to goodwill and $27,500 to identifiable intangible assets[33][34][37] - The company completed the sale of its energy group to GridBeyond Limited, resulting in a pre-tax gain of $2,572 in the second quarter of 2023[40] - The company sold its investment in GridBeyond for $1.8 million in April 2024, resulting in a loss on sale of $172,000 and a foreign exchange loss of $49,000[67] Term Loan and Convertible Notes - The company entered into a $77,500 senior secured term loan on December 13, 2023, with $37,500 used to repurchase $50,000 principal amount of its Convertible Notes[41] - Term Loan accrues interest at Term SOFR plus 8.50% per annum with a 3.00% floor, and a default interest rate of an additional 3.00% per annum applies during default[43] - Term Loan requires quarterly amortization payments of 2.50% of the principal amount starting June 2024, with a total principal payment of $75,563 due by December 2027[43][45] - Interest expense related to the Term Loan for the six months ended June 30, 2024, was $8,193 with an effective annual interest rate of approximately 31.3%[45] - Convertible Notes outstanding as of June 30, 2024, amount to $91,250, with interest expense of $1,084 for the six months ended June 30, 2024, and an effective annual interest rate of 2.42%[46][53] - The Company repurchased $60,000 of Convertible Notes at 65% of par in December 2022 and $50,000 at 75% of par in December 2023[46] - The Convertible Notes have a conversion rate of 27.2068 shares per $1,000 principal amount, equivalent to an initial conversion price of approximately $36.76 per share[48] - The Company may redeem the Convertible Notes on or after November 20, 2024, if the stock price exceeds 130% of the conversion price for 20 trading days within a 30-day period[49] - The total estimated fair value of the Convertible Notes as of June 30, 2024, was $33,073, determined using a market approach[53] - The Company entered into capped call transactions with an initial cap price of $48.55 per share to reduce potential dilution from Convertible Notes conversion[55] - As of June 30, 2024, the company has $75.6 million principal amount outstanding under its Term Loan and $91.2 million aggregate principal amount outstanding of Convertible Notes[163] Goodwill and Intangible Assets - The company's goodwill decreased slightly from $80.2 million as of December 31, 2023, to $79.8 million as of June 30, 2024, primarily due to foreign currency translation[68][69] - The company's finite-lived intangible assets had a net carrying amount of $71.4 million as of June 30, 2024, compared to $83.4 million as of December 31, 2023[70] - The company's intangible assets, including developed technology and customer relationships, had a weighted average remaining useful life of 2.8 years as of June 30, 2024[70] - The company performed a quantitative goodwill impairment assessment as of June 30, 2024, and determined that goodwill was not impaired[72] Contingent Consideration and Stock Warrants - The company's contingent consideration liabilities were fully paid by December 31, 2023, with no outstanding liabilities as of June 30, 2024[64][65] - The company's stock warrants decreased from 3,008,540 shares issued on the Closing Date of the Term Loan to 2,508,683 shares as of June 30, 2024, due to net settlements[66] Strategic Investments - The company's strategic investment in a technology company remained at a cost of $2.75 million as of June 30, 2024, with no impairments recorded[67] Revenue Recognition - The company recognized $12,398 of revenue during the six months ended June 30, 2024, from deferred revenue as of December 31, 2023[26] - The aggregate amount of transaction prices under the company's contracts allocated to remaining performance obligations was $31,897 as of June 30, 2024, with 53% expected to be recognized as revenue over the next twelve months[27] Non-GAAP Metrics - Non-GAAP gross margin increased to 78.8% and 78.2% for the three and six months ended June 30, 2024, respectively, compared to 72.2% and 75.0% in the same periods of 2023[124] - Non-GAAP gross profit for Q2 2024 was $24.412 million, up from $20.202 million in Q2 2023[133] - Non-GAAP gross profit increased by $4.2 million (20.8%) and $5.3 million (12.2%) in the three and six months ended June 30, 2024, respectively, driven by increased revenue and improved margins[155] - Non-GAAP net loss for Q2 2024 was $6.85 million, an improvement from $13.026 million in Q2 2023[130] - Non-GAAP loss from operations decreased to $6.850 billion in Q2 2024, down from $13.025 billion in Q2 2023[135] - Non-GAAP basic and diluted net loss per share improved to $0.18 in Q2 2024 from $0.35 in Q2 2023[135] Operating Expenses - Total operating expenses for the three months ended Jun 2024 were $48,654,000, a decrease of 13.3% compared to $56,147,000 in the same period in 2023[143] - Sales and marketing expenses decreased by $0.5 million (3.4%) and $1.3 million (5.2%) in the three and six months ended June 30, 2024, respectively, due to cost reduction initiatives and reduced advertising spend, partially offset by expenses from the Broadbean acquisition[149] - General and administrative expenses decreased by $2.3 million (11.9%) in the three months ended June 30, 2024, due to reductions in non-recurring professional fees and personnel-related costs, partially offset by costs from the Broadbean acquisition[151] International Revenue - 33.4% and 33.1% of the company's consolidated revenue for the three and six months ended June 30, 2024, respectively, was from customers outside of the U.S., compared to less than 10% during the same periods in 2023[88] - The company plans to expand internationally in Europe, Asia Pacific, and Latin America, with 33.4% and 33.1% of consolidated revenue coming from outside the U.S. in Q2 and H1 2024, respectively[126] Customer Concentration - No customer represented more than 10% of consolidated revenue during the three and six months ended June 30, 2024[115] - In 2023, one customer represented 15% and 17% of consolidated revenue during the three and six months ended June 30, 2023, respectively[115] Restructuring and Cost Reduction - The company expects to reduce annualized operating expenses by over $13.0 million as a result of the Q1 2024 Restructuring, which included a 13% reduction in global workforce[116] - The company incurred $2.5 million in one-time severance and transition expenses related to the Q1 2024 Restructuring, with $2.3 million paid as of June 30, 2024[116] - The company expects over $37.0 million of net annualized strategic cost reductions as a result of restructuring initiatives since Q1 2023[120] Tax and Deferred Tax Liabilities - The company's effective tax rate for the three and six months ended June 30, 2024 was 0.2% and 2.3%, respectively, significantly lower than the U.S. federal statutory rate of 21% due to valuation allowances on deferred tax assets and foreign operations[91] - As of June 30, 2024, the company had net deferred tax liabilities of $7,040, down from $9,504 as of December 31, 2023[92] Operating Leases - The company made cash payments for operating leases of $771 and $1,453 for the three and six months ended June 30, 2024, respectively, up from $644 and $1,281 for the same periods in 2023[94] - Total rent expense for operating leases was $647 and $1,285 for the three and six months ended June 30, 2024, respectively, compared to $546 and $1,092 for the same periods in 2023[94] - The company's operating leases have a weighted average remaining lease term of 1.2 years and a weighted average discount rate of 8.2% as of June 30, 2024[94] - The company recorded sublease income of $277 and $554 for the three and six months ended June 30, 2024, respectively, unchanged from the same periods in 2023[94] Stock Issuance and Warrants - The company issued 479,903 shares of common stock during the six months ended June 30, 2024, down from 593,763 shares issued in the same period in 2023[99] - In Q2 2024, 91,153 shares of common stock were issued upon the exercise of 150,200 warrants at

Veritone, Inc. (NASDAQ:VERI) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Stefan Norbom - IR Ryan Steelberg - Chairman and CEO Mike Zemetra - CFO Conference Call Participants Stephen Banta - Banta Asset Management Operator Good day, and welcome to the Veritone Inc. Second Quarter 2024 Financial Results Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Stefan Norbom, Investor Relations. Please ...

veritone Investor Presentation August 2024 H U M A N H U M A A A N H U M H U M H U M a N Copyright @ 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners. 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 foregoing, words such ...

Revenue Growth and Performance - Q2 Total Revenue of $31.0 million, an 11% increase compared to Q2 2023[1][3] - Software Products & Services revenue of $15.6 million, an 11% increase year over year, despite a 25% decline in Pro Forma Software Revenue[3][8] - Managed Services revenue of $15.4 million, an 11% increase year over year driven by advertising growth[3][11] - Total revenue for Q2 2024 increased to $30.992 million, up from $27.967 million in Q2 2023, representing a growth of 10.8%[30] - Total revenue for the first six months of 2024 reached $62.628 million, compared to $58.230 million in the same period of 2023, a 7.5% increase[30] - Revenue for Q2 2024 increased to $30.992 million, up 10.8% from $27.967 million in Q2 2023[38] - Pro Forma Software Revenue for Q2 2024 was $15.632 million, showing a slight increase from Q1 2024's $15.220 million[44] - Total Pro Forma Revenue for Q2 2024 was $30.992 million, down from Q1 2024's $31.636 million[44] - Broadbean Revenue for Q2 2024 was $8.690 million, consistent with previous quarters[44] - Managed Services Revenue for Q2 2024 was $15.360 million, down from Q1 2024's $16.416 million[44] Customer Metrics and Bookings - Public Sector sales pipeline exceeds $100 million, with 17 new Public Sector customers added in Q2[1][10] - Total Software Products & Services Customers decreased by 7% year over year to 3,437[4][8] - Total Software Product & Services Customers decreased by 7% year-over-year to 3,437 as of June 30, 2024[13] - Total New Bookings increased by 67% to $14.0 million on a Pro Forma basis compared to the same period last year[13] - Total New Bookings for Q2 2024 were $14.047 million, up from $12.964 million in Q1 2024[41] - Pro Forma Total Number of Customers in Q2 2024 was 3,437, slightly up from Q1 2024's 3,384[44] - Average billings per active Managed Services client in Q2 2024 was $727,000, down from Q1 2024's $793,000[47] Financial Performance and Losses - Operating Loss improved by 37% year over year to $17.7 million, and Non-GAAP Net Loss improved by 47% to $6.9 million[1][4] - Operating loss improved to $17.7 million, a $10.5 million reduction compared to Q2 2023, driven by a $7.5 million decrease in operating expenses and a $3.0 million increase in revenue[12] - Non-GAAP gross margin improved by 660 basis points to 78.8% from 72.2% in Q2 2023[12] - Non-GAAP net loss improved by 47% to $6.9 million compared to $13.0 million in Q2 2023[12] - Net loss for Q2 2024 was $22.231 million, slightly improved from a net loss of $23.296 million in Q2 2023[30] - Net loss for the three months ended June 30, 2024, was $22.2 million, compared to $23.3 million for the same period in 2023[34] - Non-GAAP net loss for the three months ended June 30, 2024, was $6.9 million, compared to $13.0 million for the same period in 2023[34] - Net loss for the year ended December 31, 2024, is projected to be between $72.2 million and $68.2 million[37] - Non-GAAP net income (loss) for the year ended December 31, 2024, is projected to be between $15.0 million loss and $11.0 million loss[37] - GAAP net loss for Q2 2024 was $22.231 million, compared to $23.296 million in Q2 2023[38] - Non-GAAP net loss for Q2 2024 improved to $6.850 million from $13.026 million in Q2 2023[38] - Loss from operations for Q2 2024 was $17.662 million, an improvement from Q2 2023's $28.180 million[48] Cash and Liabilities - Cash and cash equivalents totaled $46.0 million as of June 30, 2024, including $39.3 million from advertising customers for future vendor payments[14] - Total current liabilities decreased to $181.658 million in Q2 2024 from $188.825 million in Q2 2023[29] - Total stockholders' equity deficit worsened to $(5.694) million in Q2 2024 from $38.147 million in Q2 2023[29] - Net cash used in operating activities for the first six months of 2024 was $26.791 million, improved from $58.533 million in the same period of 2023[31] - Cash and cash equivalents and restricted cash decreased to $46.957 million at the end of Q2 2024 from $63.539 million at the end of Q2 2023[31] Annual Recurring Revenue (ARR) - Total ARR (SaaS and Consumption) of $67.9 million, with SaaS ARR representing 72% of total ARR[1] - Annual Recurring Revenue on a Pro Forma basis decreased by 37% year-over-year to $67.9 million[13] - Annual Recurring Revenue (SaaS) for Q2 2024 was $49.223 million, slightly up from $49.064 million in Q1 2024[41] - Annual Recurring Revenue (Consumption) for Q2 2024 dropped to $18.701 million from $23.510 million in Q1 2024[41] - Pro Forma Annual Recurring Revenue (SaaS) for Q2 2024 was $67.924 million, a decrease from Q1 2024's $72.574 million[44] Strategic Initiatives and Collaborations - Announced formal process to divest a non-software asset, expected to generate substantial cash proceeds in 2024[1][10] - Strategic Collaboration Agreement with Amazon Web Services (AWS) to accelerate cloud-native enterprise AI and generative AI innovation[10] Expenses and Costs - Depreciation and amortization for the three months ended June 30, 2024, was $7.0 million, compared to $6.4 million for the same period in 2023[34] - Stock-based compensation expense for the three months ended June 30, 2024, was $2.1 million, compared to $2.7 million for the same period in 2023[34] - Interest expense, net for the three months ended June 30, 2024, was $4.5 million, compared to $0.7 million for the same period in 2023[34] - Severance and executive transition costs for the three months ended June 30, 2024, were $0.9 million, compared to $0.7 million for the same period in 2023[34] - Variable consultant performance bonus expense for the three months ended June 30, 2024, was $0.0 million, compared to $0.2 million for the same period in 2023[34][36] - Purchase consideration expense for the three months ended June 30, 2024, was $0.6 million, compared to $0.0 million for the same period in 2023[34] - Research and Development expenses for Q2 2024 were $6.645 million, significantly lower than Q2 2023's $10.519 million[48] Gross Profit and Margins - Non-GAAP gross profit for Q2 2024 was $24.412 million, compared to $20.202 million in Q2 2023, reflecting a 20.8% increase[38] - Non-GAAP gross profit for Q2 2024 was $24.412 million, up from Q2 2023's $20.202 million[48] Revenue Projections - Q3 2024 revenue is expected to be between $34.0 million and $35.0 million, compared to $35.1 million in Q3 2023[15] - Full-year 2024 revenue is expected to range from $136.0 million to $142.0 million, compared to $127.6 million in 2023[16] - Full-year 2024 Non-GAAP net loss is expected to be between $11.0 million and $15.0 million, compared to $37.3 million in 2023[16] Customer Retention - Gross Revenue Retention remained above 90% for all quarters from Q1 2022 to Q2 2024[41]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38093 Veritone, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or or ...

Veritone, Inc. (NASDAQ:VERI) Q1 2024 Earnings Conference Call May 7, 2024 5:00 PM ET Company Participants Stefan Norbom - IR Ryan Steelberg - Chairman and CEO Mike Zemetra - CFO Conference Call Participants Steve Banta - Banta Asset Management Alec Sharps - Stifel Operator Good day, and welcome to the Veritone Inc. First Quarter 2024 Financial Results Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference ...