Veritone, Inc. · NASDAQ:VERI
Veritone — Needham Big Data and Infrastructure Software Conference 2021
28 slides from Veritone's conference presentation, November 2021
Slide 1: The Leading Enterprise AI Platform
aiWARE : The Leading Enterprise AI Platform Needham Big Data and Infrastructure Software Conference November 2021 Copyright © 2021 Veritone, Inc. All rights reserved. CONFIDENTIAL. Trademarks are the property of their respective owners. Copyright © 2021 Veritone, Inc. All rights reserved. CONFIDENTI
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: 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 4: Veritone is a leading enterprise AI software and services provider
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, aiWARETM, the first proprietary operating sys
Slide 5: 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 $22.7M +169% 46% transform audio, video, text, and other unstructured data sources into +44% YOY
Slide 6: Recent Business Momentum and Key Wins
Recent Business Momentum and Key Wins 11.2021 11.2021 10.2021 11.2021 Named Winner in the 2021 2021 NAB Show Product of Deployed Forecaster / Multi-Cloud FedRAMP Deloitte Technology Fast 500 the Year Award Controller and Battery Authorization To Operate For being one of the most innovative, fastest-
Slide 7: 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 8: 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 9: Investment Thesis
Investment Thesis Copyright Copyright©©2021 2021Veritone, Veritone,Inc. Inc.All Allrights rightsreserved. reserved.CONFIDENTIAL. CONFIDENTIAL.Trademarks Trademarksare arethe theproperty propertyofoftheir theirrespective respectiveowners. owners. NASDAQ: VERI
Slide 10: 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 © 2021 Veritone, Inc. All rights reserved. CONFIDENTIAL. Tra
Slide 11: 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 12: 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 13: 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 14: 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 15: 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 16: 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 17: 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 18: Financial Update
Financial Update Copyright Copyright©©2021 2021Veritone, Veritone,Inc. Inc.All Allrights rightsreserved. reserved.CONFIDENTIAL. CONFIDENTIAL.Trademarks Trademarksare arethe theproperty propertyofoftheir theirrespective respectiveowners. owners. NASDAQ: VERI
Slide 19: 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) Pro Forma Q3’21 Financial Metrics Total Revenue Growth (Y/Y) 34% $120 Top Line $104 Y YO $100 41 % Software Product & Services Growth (Y
Slide 20: Business and Financial Momentum
Business and Financial Momentum Trailing 7 Quarters Financial Performance Q3’21 Results Summary ($ in Millions) Robust Revenue Growth… $22.7 Quarterly Revenue Performance ($ in Millions) $44 $19.2 +111% CAGR $9.0 $15.7 $5.6 $19 $23 $16 $17 $18 $3.4 $12 $13 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q
Slide 21: Third Quarter 2021 Results – Summary
Third Quarter 2021 Results – Summary Q3’21 CHANGE ($ in Thousands) Q3’20 Q2’21 Q3’21 Q/Q Y/Y Commercial Enterprise Software Products & Services $2,462 5,131 $8,069 57% 227% Managed Services $12,367 $13,626 $13,627 0% 10% Subtotal $14,829 $18,757 $21,697 16% 46% Government & Regulated Industries Soft
Slide 22: Balance Sheet Summary
Balance Sheet Summary ($ in Thousands) September 30, 2021 Cash and Cash Equivalents $72,645 Current Assets $166,467 Total Assets $291,196 Current Liabilities $173,113 Total Liabilities $183,530 Stockholders’ Equity $107,666 Common Shares Outstanding 34,876,616 (excluding options, RSUs and warrants)
Slide 23: Appendix
Appendix Copyright Copyright©©2021 2021Veritone, Veritone,Inc. Inc.All Allrights rightsreserved. reserved.CONFIDENTIAL. CONFIDENTIAL.Trademarks Trademarksare arethe theproperty propertyofoftheir theirrespective respectiveowners. owners. NASDAQ: VERI
Slide 24: 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 25: 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 26: Pro Forma Historical Financials
Pro Forma Historical Financials VERITONE, INC. PRO FORMA INCOME STATEMENT (UNAUDITED) (in thousands) Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Software Products & Services $5,710 $10,516 $14,154 $30,870 $10,183 $20,072 $21,860 Managed Services 8,796 10,266 12,367 12,416 13,610 13,626 13,627 Total Re
Slide 27: Annual GAAP to non-GAAP Reconciliation
Annual GAAP to non-GAAP Reconciliation VERITONE, INC. RECONCILIATION OF NON-GAAP NET LOSS TO GAAP NET LOSS (Unaudited, in thousands) 2017 2018 2019 2020 2021E GAAP net loss ($59,601) ($61,104) ($62,078) ($47,876) ($57,713) Interest expense 496 -- -- 9 -- Provision for (benefit from) income taxes 6 2
Slide 28: Annual GAAP to non-GAAP Reconciliation
Annual GAAP to non-GAAP Reconciliation VERITONE, INC. RECONCILIATION OF NON-GAAP NET LOSS TO GAAP NET LOSS (Unaudited, in thousands) Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21E GAAP net loss ($12,684) ($11,793) ($11,013) ($12,386) ($30,567) ($12,715) ($11,447) ($3,122) Interest expense -- 9 --
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