VERITONE, INC.

SUPPLEMENTAL FINANCIAL INFORMATION

(Q4 2023 AND FULL YEAR 2023)

This document contains the following unaudited supplemental financial and business information:

Page

  1. Supplemental Non-GAAP Financial Information and Reconciliation to GAAP Information 1Q22, 2Q:22, 3Q:22, 4Q:22, 1Q:23; 2Q:23; 3Q23 and 4Q23;
  2. Breakdown and Reconciliation of Non-GAAP Net Income (Loss) to GAAP Net Loss for Core Operations and Corporate for the three and twelve months ended December 31, 2023 and for the three and twelve months ended December 31, 2022;
  3. Reconciliation of Non-GAAP Net Income (Loss) to GAAP Net Loss for the years ended December 31, 2018, 2019, 2020, 2021, 2022 and 2023 and for the Midpoint of the Company's Guidance for the Full Year 2024, as provided on March 12, 2024;
  4. Reconciliation of Non-GAAP Net Loss to GAAP Net Loss for 1Q22, 2Q:22, 3Q:22, 4Q:22, 1Q:23; 2Q:23; 3Q23; 4Q23 and for the Midpoint of the Company's Guidance for 1Q24, as provided on March 12, 2024;
  5. Supplemental Financial Information for the available periods starting 1Q:22;
  6. Supplemental Revenue Breakdown and Comparisons; and
  7. Reconciliation of Non-GAAP Gross Profit to Loss from Operations.

Explanatory Notes

The accompanying financial information excludes all financial statement disclosures and other information required by generally accepted accounting principles (GAAP) and Securities and Exchange Commission (SEC) rules and regulations. However, Veritone has previously filed, or has publicly disclosed and will file, with the SEC, financial statements for each of the above noted periods that were prepared in accordance with generally accepted accounting principles and SEC rules and regulations. The accompanying financial information is derived from the books and records of Veritone that were used to prepare those financial statements. Accordingly, the accompanying information should be read in conjunction with Veritone's consolidated financial statements and notes thereto filed with the SEC for each respective period. We believe that quarter-to-quarter comparisons of results from operations, or any other similar period-to-period comparisons, should not be construed as reliable indicators of our future performance.

The accompanying financial information includes certain non-GAAP financial measures. The items excluded from these non-GAAP financial measures and a reconciliation of such non-GAAP results and guidance with the Company's most directly comparable GAAP results and guidance are detailed on the following pages. The Company presents these non-GAAP financial measures because management believes such information to be important supplemental measures of performance that are commonly used by securities analysts, investors and other interested parties in the evaluation of companies in its industry. Management also uses this information internally for forecasting and budgeting.

These non-GAAP financial measures should not be considered as an alternative to revenue, net income (loss), operating income (loss) or any other financial measures so calculated and presented, nor as an alternative to cash flow from operating activities as a measure of liquidity. Other companies (including the Company's competitors) may define these non-GAAP financial measures differently. These non-GAAP financial measures may not be indicative of the historical operating results of Veritone or predictive of potential future results. Investors should not consider this these non-GAAP financial measures in isolation or as a substitute for analysis of the Company's results as reported in accordance with GAAP.

VERITONE, INC.

SUPPLEMENTAL NON-GAAP FINANCIAL INFORMATION AND RECONCILIATION TO GAAP INFORMATION

(unaudited; in thousands, except per share data)

March 31,

June 30,

September 30,December 31,

March 31,

June 30,

Sept 30,

Dec 31,

2022

2022

2022

2022

2023

2023

2023

2023

Revenue

$

34,407

$

34,235

$

37,196

$

43,890

$

30,263

$

27,967

$

35,133

$

34,197

Cost of revenue

6,923

6,705

7,097

6,707

6,809

7,765

7,187

6,495

Non-GAAP gross profit

27,484

27,530

30,099

37,183

23,454

20,202

27,946

27,702

GAAP cost of revenue

6,923

6,705

7,097

6,707

6,809

7,765

7,187

6,495

Stock-based compensation expense

(20)

(24)

(46)

(26)

(20)

(17)

5

(20)

Non-GAAP cost of revenue

6,903

6,681

7,051

6,681

6,789

7,748

7,192

6,475

GAAP sales and marketing expenses

11,069

12,576

13,920

13,780

12,690

13,124

12,892

13,318

Depreciation

-

-

-

-

-

-

-

(60)

Stock-based compensation expense

(463)

(727)

(538)

(535)

(176)

(529)

(208)

(388)

Severance and executive transition costs

-

-

(86)

-

(313)

(190)

(207)

(121)

Non-GAAP sales and marketing expenses

10,606

11,849

13,296

13,245

12,201

12,405

12,477

12,749

GAAP research and development expenses

9,883

11,068

11,784

10,854

11,527

10,519

10,410

9,634

Depreciation

-

-

-

-

(227)

(292)

(334)

(646)

Stock-based compensation expense

(1,004)

(1,247)

(1,532)

(1,273)

(1,542)

(1,127)

(953)

(823)

Variable consultant performance bonus expense

-

-

-

-

(394)

(237)

(397)

77

Severance and executive transition costs

-

-

(198)

-

(529)

(151)

(188)

(166)

Non-GAAP research and development expenses

8,879

9,821

10,054

9,581

8,835

8,712

9,269

8,076

GAAP general and administrative expenses

22,320

2,304

2,502

17,050

17,397

19,025

21,082

16,307

Depreciation

(198)

(245)

(320)

(549)

(245)

(375)

(880)

673

Stock-based compensation expense

(3,329)

(2,663)

(2,986)

(2,702)

(2,179)

(1,024)

(876)

(949)

Change in fair value of contingent consideration

(5,045)

13,830

14,291

(355)

(651)

-

(816)

(817)

Acquisition and due diligence costs

(562)

(207)

(839)

(1,080)

(805)

(4,271)

(3,177)

(872)

Severance and executive transition costs

-

-

(81)

(175)

(602)

(348)

(390)

(439)

Non-GAAP general and administrative expenses

13,186

13,019

12,567

12,189

12,915

13,007

14,193

13,903

GAAP amortization

(5,016)

(5,211)

(5,504)

(5,450)

(5,429)

(5,714)

(6,624)

(5,948)

GAAP loss from operations

(20,804)

(3,629)

(3,611)

(9,951)

(23,589)

(28,180)

(23,062)

(17,505)

Total non-GAAP adjustments (1)

15,637

(3,506)

(2,161)

12,145

13,112

14,275

15,045

10,499

Non-GAAP net income (loss) from operations

(5,167)

(7,135)

(5,772)

2,194

(10,477)

(13,905)

(7,998)

(7,006)

GAAP other income (expense), net

(1,186)

(1,231)

(1,249)

18,413

355

3,510

(2,456)

29,254

Contribution of business held for sale (3)

-

-

-

-

917

872

-

(98)

Gain on sale of energy group

-

-

-

-

-

(2,572)

-

-

Gain on debt extinguishment

-

-

-

(19,097)

-

-

-

(30,023)

Foreign currency impact

-

-

-

-

(1,161)

(1,659)

2,294

393

Interest expense, net

1,182

1,183

1,305

680

805

720

218

705

Non-GAAP other income (expense), net

(4)

(48)

56

(4)

916

871

56

231

GAAP loss before income taxes

(21,990)

(4,860)

(4,860)

8,462

(23,234)

(24,670)

(25,518)

11,749

Total non-GAAP adjustments (1)

16,819

(2,323)

(856)

(6,272)

13,673

11,636

17,557

(18,524)

Non-GAAP net income (loss) before income taxes

(5,171)

(7,183)

(5,716)

2,190

(9,561)

(13,034)

(7,961)

(6,775)

GAAP net loss

(22,129)

(3,253)

(4,886)

4,711

(22,963)

(23,296)

(24,541)

12,175

Income tax provision

139

(1,607)

26

3,751

(271)

(1,374)

(977)

(426)

Other non-GAAP adjustments

16,819

(2,323)

(856)

(6,272)

13,673

11,636

17,557

(18,524)

Non-GAAP net income (loss)

$

(5,171)

$

(7,183)

$

(5,716)

$

2,190

$

(9,561)

$

(13,034)

$

(7,961)

$

(6,775)

Shares used in computing non-GAAP basic net gain (loss) per share

35,477

36,084

36,202

36,360

36,588

36,849

36,992

37,169

Shares used in computing non-GAAP diluted net gain (loss) per share(2)

35,477

36,084

36,202

42,487

36,588

36,849

36,992

43,599

Non-GAAP basic net gain (loss) per share

$

(0.15)

$

(0.20)

$

(0.16)

$

0.06

$

(0.26)

$

(0.35)

$

(0.22)

$

(0.18)

Non-GAAP diluted net gain (loss) per share

$

(0.15)

$

(0.20)

$

(0.16)

$

0.05

$

(0.26)

$

(0.35)

$

(0.22)

$

(0.16)

  1. Adjustments are comprised of the adjustments to GAAP cost of revenue, sales and marketing expenses, research and development expenses and general and administrative expenses and other (expense) income, net (where applicable) listed above.
  2. Contribution of business held for sale relates to the net loss for the periods presented for our energy group that we divested during Q2 2023. We have not recast Non-GAAP Net Loss for periods ended prior to March 31, 2023 because the change in business strategy to divest the business occurred in Q1 2023 and the prior period contributions were costs to operate the continuing business when incurred in the prior periods. The historical amounts would not have a major effect on prior period results.
  3. In Q4 2022 and Q4 2023, the shares used in computing non-GAAP diluted net earnings (loss) per share include the dilutive effects of common stock issuable upon the exercise or settlement of options, RSUs, and warrants as well as the common stock issuable upon conversion of our convertible notes, which for the purposes of diluted net earnings per share will be presented as if the convertible notes were converted to common stock as of January 1, 2021.

1

VERITONE, INC.

Breakdown and Reconciliation of Non-GAAP Net Income (Loss) to GAAP Net Loss for Core Operations and Corporate

(in thousands)

Three Months Ended December 31, 2023

2023

2022

Core

Core

Operations(1)

Corporate(2)

Total

Operations(1)

Corporate(2)

Total

Net income (loss)

$

(7,707)

$

19,882

$

12,175

$

3,466

$

1,566

$

5,032

(Benefit from) income taxes

386

(812)

(426)

2,310

1,120

3,430

Depreciation and amortization

5,786

162

5,948

5,882

117

5,999

Stock-based compensation expense

1,548

632

2,180

2,526

2,010

4,536

Change in fair value of contingent consideration

-

817

817

-

355

355

Interest (income) expense, net

-

704

704

-

680

680

Foreign currency impact

458

(65)

393

-

-

-

Gain on debt extinguishment

-

(30,023)

(30,023)

-

(19,097)

(19,097)

Acquisition and due diligence costs

-

872

872

-

1,080

1,080

Contribution of business held for sale (3)

(98)

-

(98)

-

-

-

Variable consultant performance bonus expense (4)

(77)

-

(77)

-

-

-

Severance and executive transition costs

406

321

727

175

-

175

Non-GAAP net (loss) income

$

702

$

(7,510)

$

(6,808)

$

14,359

$

(12,169)

$

2,190

Twelve Months Ended December 31, 2023

2023

2022

Core

Core

Operations(1)

Corporate(2)

Total

Operations(1)

Corporate(2)

Total

Net loss

$

(46,133)

$

(12,492)

$(58,625)

$

(19,027)

$

(6,530)

$

(25,557)

(Benefit from) provision income taxes

(4,022)

974

(3,048)

1,805

504

2,309

Depreciation and amortization

25,216

885

26,101

21,936

557

22,493

Stock-based compensation expense

7,259

3,567

10,826

10,138

8,977

19,115

Change in fair value of contingent consideration

-

2,284

2,284

-

(22,721)

(22,721)

Interest expense, net

10

2,438

2,448

-

4,350

4,350

Foreign currency impact

-

(133)

(133)

-

-

-

Gain on debt extinguishment

-

(30,023)

(30,023)

-

(19,097)

(19,097)

Acquisition and due diligence costs

-

9,125

9,125

-

2,688

2,688

Gain on sale of energy group

-

(2,572)

(2,572)

-

-

-

Contribution of business held for sale (3)

1,691

-

1,691

-

-

-

Variable consultant performance bonus expense(4)

951

-

951

-

-

-

Severance and executive transition costs

2,676

968

3,644

512

28

540

Non-GAAP Net Income (Loss)

$

(12,352)

$

(24,979)

$(37,331)

$

15,364

$

(31,244)

$

(15,880)

  1. Core operations consists of our consolidated Software Products & Services and Managed Services that include our content licensing and advertising services, and their supporting operations, including direct costs of sales as well as operating expenses for sales, marketing, and product development and certain general and administrative costs dedicated to these operations.
  2. Corporate consists of general and administrative functions such as executive, finance, legal, people operations, fixed overhead expenses (including facilities and information technology expenses), other income (expenses) and taxes, and other expenses that support the entire company, including public company driven costs.
  3. Loss from business held for sale relates to the net loss for the periods presented for our energy group that we divested during the second quarter of 2023. We have not recast Non-GAAP Net Loss for periods ended prior to March 31, 2023 because the change in business strategy to divest the business occurred in the first quarter of 2023 and the prior period contributions were costs to operate the continuing business when incurred in the prior periods. The historical amounts would not have a major effect on prior period results.
  4. Variable consultant performance bonus expense represents the bonus payments paid to Mr. Chad Steelberg as a result of his achievement of the performance goals pursuant to his consulting agreement with us.

2

VERITONE, INC.

RECONCILIATION OF NON-GAAP NET INCOME (LOSS) TO GAAP NET LOSS

(Unaudited, in thousands)

2018

2019

2020

2021

2022

2023

2024E

GAAP net loss

$(61,104)

$(62,078)

$(47,876)

$(64,672)

$(25,557)

$(58,625)

$(55,150)

Interest expense, net

-

-

9

538

4,350

2,448

6,500

Provision for (benefit from) income taxes

22

(1,452)

76

2,699

2,309

(3,048)

(3,000)

Depreciation and amortization

3,701

5,947

6,407

9,410

22,493

26,101

24,600

Stock-based compensation expense

14,383

19,402

19,539

40,063

19,115

10,826

9,800

Severance and executive transition costs(1)

-

279

145

349

540

3,644

2,000

Gain on debt extinguishment

-

-

-

-

(19,097)

(30,023)

-

Warrant expense

207

-

102

-

-

-

-

Change in fair value of warrant liability

(184)

(16)

200

-

-

-

-

Gain on sale of asset

-

-

(56)

-

-

-

-

State sales tax reserve

-

-

818

306

-

-

-

Stock offering costs

-

-

27

-

-

-

-

Lease exit charges(2)

-

-

16

3,367

-

-

-

Change in fair value of Contingent consideration

-

-

-

12,074

(22,721)

2,284

1,000

Gain on sale of energy group

-

-

-

-

-

(2,572)

-

Foreign currency impact

-

-

-

-

-

(133)

-

Costs associated with unsolicited acquisition proposal

116

-

-

-

-

-

-

Contribution of business held for sale

-

-

-

-

-

1,691

-

Variable consultant performance bonus expense

-

-

-

-

-

951

1,300

Performance Bridge earn-out fair value adjustment

-

139

-

-

-

-

-

Machine Box contingent payments

1,386

1,600

-

-

-

-

-

Acquisition and due diligence costs

2,427

-

-

2,698

2,688

9,125

-

Non-GAAP net income (loss)

$(39,046)

$(36,179)

$(20,593)

$

6,832

$(15,880)

$(37,331)

$(12,950)

  1. Business realignment, severance and executive transition costs consists of severance and executive transition costs in 2023, severance and executive search costs in 2022 and 2021 and business realignment and officer severance costs in 2020 and 2019.
  2. Lease exit charges consists of charges related to a sublease in 2021 and lease termination charges in 2020.

Note: GAAP net loss and non-GAAP net income (loss) figures for FY 2024 reflect the midpoint of the Company's financial guidance provided on March 12, 2024.

3

VERITONE, INC.

RECONCILIATION OF NON-GAAP NET LOSS TO GAAP NET LOSS

(Unaudited, in thousands)

Q1:2022

Q2:2022

Q3:2022

Q4:2022

Q1:2023

Q2:2023

Q3:2023

Q4:2023

Q1: 2024

GAAP net (loss) income

$

(22,129)

$ (3,253)

$ (4,886)

$ 4,711

$

(22,963)

$ (23,296)

$

(24,541)

$

12,175

$

(19,300)

Interest expense, net

1,182

1,183

1,305

680

805

720

218

704

1,600

Provision for (benefit from) income taxes

139

(1,607)

26

3,751

(271)

(1,374)

(977)

(426)

(600)

Depreciation and amortization

5,214

5,456

5,824

5,999

5,907

6,389

7,857

5,948

6,200

Stock-based compensation expense

4,816

4,661

5,102

4,536

3,917

2,697

2,032

2,180

2,300

Severance and executive transition costs(1)

-

-

365

175

1,444

689

785

727

1,500

Gain on debt extinguishment

-

-

-

(19,097)

-

-

-

(30,023)

-

Change in fair value of contingent consideration

5,045

(13,830)

(14,291)

355

651

-

816

817

500

Gain on sale of energy group

-

-

-

-

-

(2,572)

-

-

-

Foreign currency impact

-

-

-

-

(1,161)

(1,659)

2,294

393

-

Contribution of business held for sale

-

-

-

-

917

872

-

(98)

-

Variable consultant performance bonus expense

-

-

-

-

394

237

397

(77)

300

Acquisition and due diligence costs

562

207

839

1,080

805

4,271

3,177

872

-

Non-GAAP net loss

$

(5,171)

$ (7,183)

$ (5,716)

$ 2,190

$

(9,555)

$ (13,026)

$

(7,942)

$

(6,808)

$

(7,500)

  1. Business realignment, severance and executive transition costs consists of severance and executive transition costs in 2023, severance and executive search costs in 2022 and 2021 and business realignment and officer severance costs in 2020 and 2019 . Note: GAAP net loss and non-GAAP net income (loss) figures for Q1 2024 reflect the midpoint of the Company's financial guidance provided on March 12, 2024.

4

VERITONE, INC.

SUPPLEMENTAL FINANCIAL INFORMATION

Mar 31,

Jun 30,

Sept 30,

Dec 31,

Mar 31,

Jun 30,

Sept 30,

Dec 31,

2022(1)

2022(1)

2022 (1)

2022 (1)

2023 (1)

2023 (1)

2023

2023

Software Products & Services Supplemental Financial

Pro Forma Software Revenue (in 000's) (2)

$ 26,319

$26,857

$28,629

$35,656

$22,417

$

20,860

$20,361

$19,820

Total Software Products & Services Customers (3)

3,673

3,718

3,787

3,824

3,773

3,705

3,536

3,460

Annual Recurring Revenue (SaaS) (in 000's) (4)

$ 48,392

$44,465

$43,925

$46,248

$45,453

$

47,720

$47,456

$48,026

Annual Recurring Revenue (Consumption) (in 000's) (5)

$ 87,445

$85,901

$85,091

$71,754

$67,242

$

60,229

$50,803

$34,102

Total New Bookings (in 000's) (6)

$ 16,643

$22,009

$23,793

$26,342

$22,794

$

8,388

$15,501

$17,457

Gross Revenue Retention (7)

>90%

>90%

>90%

>90%

>90%

>90%

>90%

>90%

Managed Services Supplemental Financial Information

Avg billings per active managed service client (in 000's) (8)

Revenue during quarter (in 000's) (9)

Mar 31,

Jun 30,

Sept 30,

Dec 31,

Mar 31,

Jun 30,

Sept 30,

Dec 31,

2022

2022

2022

2022

2023

2023

2023

2023

$

684

$

736

$

747

$

823

$

771

$

576

$

630

$

647

$

10,735

$

9,625

$

10,035

$

11,074

$

9,337

$

6,876

$

9,117

$

8,612

  1. All of the supplemental financial information for this period is presented on a Pro Forma basis inclusive of Broadbean.
  2. "Pro Forma Software Revenue" is a non-GAAP measure that represents Software Products & Services revenue on a Pro Forma basis.
  3. "Total Software Products & Services Customers" includes Software Products & Services customers as of the end of each respective quarter set forth above with net revenues in excess of $10 and also excludes any customers categorized by us as trial or pilot status. In prior periods, we provided "Ending Software Customers," which represented Software Products & Services customers as of the end of each fiscal quarter with trailing twelve-month revenues in excess of $2,400 for both Veritone, Inc. and PandoLogic Ltd. and/or deemed by the Company to be under an active contract for the applicable periods. Total Software Products & Services Customers is not comparable to Ending Software Customers. Total Software Products & Services Customers includes customers based on revenues in the last month of the quarter rather than on a trailing twelve-month basis. Total Software Products & Services Customers includes customers based on revenues in the last month of the quarter rather than on a trailing twelve-month basis and excludes any customers that are on trial or pilot status with us rather than including customers with active contracts. Management uses Total Software Products & Services Customers and we believe Total Software Products & Services Customers are useful to investors because it more accurately reflects our total customers for our Software

(4) "Annual Recurring Revenue (SaaS)" represents an annualized calculation of monthly recurring revenue during the last month of the applicable quarter for all Total Software Products & Services customers, in each case on a Pro Forma basis. In prior periods, we provided "Average Annual Revenue," which was calculated as the aggregate of trailing twelve-month Software Products & Services revenue divided by the average number of customers over the same period for both Veritone, Inc. and PandoLogic Ltd.. Annual Recurring Revenue is not comparable to Average Annual Revenue (SaaS). Annual Recurring Revenue (SaaS) includes only subscription-based SaaS revenue, is not averaged among active customers and uses a calculation of recurring revenue as described above instead of annual revenue. Management uses "Annual Recurring Revenue (SaaS)" and we believe Annual Recurring Revenue (SaaS) is useful to investors because Broadbean significantly increases our mix of subscription-based SaaS revenues as compared to Consumption revenues and the split between the two allows the reader to delineate between predictable recurring SaaS revenues and more volatile Consumption revenues.

  1. "Annual Recurring Revenue (Consumption)" represents the trailing twelve months of all non-recurring and/or consumption-based revenue for all active Total Software Products & Services customers, in each case, on a Pro Forma basis. In prior periods, we provided "Average Annual Revenue," which was calculated as the aggregate of trailing twelve-month Software Products & Services revenue divided by the average number of customers over the same period for both Veritone, Inc. and PandoLogic Ltd. Annual Recurring Revenue (Consumption) is not comparable to Average Annual Revenue. Annual Recurring Revenue (Consumption) includes only non-recurring and/or consumption- based revenue, is not averaged among active customers and uses a calculation of recurring revenue as described above instead of annual revenue. Management uses "Annual Recurring Revenue (Consumption)" and we believe Annual
    Recurring Revenue (Consumption) is useful to investors because Broadbean significantly increases our mix of subscription-based SaaS revenues as compared to Consumption revenues and the split between the two allows the reader to delineate between predictable recurring SaaS revenues and more volatile Consumption revenues.
  2. "Total New Bookings" represents the total fees payable during the full contract term for new contracts received in the quarter (including fees payable during any cancellable portion and an estimate of license fees that may fluctuate over the term), excluding any variable fees under the contract (e.g., fees for cognitive processing, storage, professional services and other variable services), in each case on a Pro Forma basis.
  3. "Gross Revenue Retention" represents a calculation of our dollar-based gross revenue retention rate as of the period end by starting with the revenue from Software Products & Services Customers as of the 3 months in the prior year quarter to such period, or Prior Year Quarter Revenue. We then deduct from the Prior Year Quarter Revenue any revenue from Software Products & Services Customers who are no longer customers as of the current period end, or Current Period Ending Software Customer Revenue. We then divide the total Current Period Ending Software Customer Revenue by the total Prior Year Quarter Revenue to arrive at our dollar-based gross retention rate, which is the percentage of revenue from all Software Products & Services Customers from our Software Products & Services as of the year prior that is not lost to customer churn. All numbers used to determine Gross Revenue Retention are
  4. Avg billings per active Managed Services customer for each quarter reflects the average quarterly billings per active Managed Services customer over the twelve-month period through the end of such quarter for Managed Services clients that are active during such quarter.
  5. Managed Services revenue and metrics exclude content licensing and media services, and Table Rock Management.

5

VERITONE, INC.

SUPPLEMENTAL REVENUE BREAKDOWN AND COMPARISONS

Revenue by Business

Commercial Enterprise

Software Products & Services

Managed Services

Sub-total

Government & Regulated Industries

Software Products & Services

Managed Services

Sub-total

Total revenue

(Unaudited, Dollars in Thousands)

Q1 2022

Q2 2022

Q3 2022

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

17,386

17,508

19,800

26,055

12,732

12,492

18,885

18,301

16,240

15,856

16,384

16,670

16,136

13,874

14,772

14,376

33,626

33,364

36,184

42,725

28,868

26,366

33,657

32,677

781

871

1,012

1,165

1,395

1,601

1,476

1,520

-

-

-

-

-

-

-

-

781

871

1,012

1,165

1,395

1,601

1,476

1,520

$ 34,407

$ 34,235

$ 37,196

$ 43,890

$ 30,263

$ 27,967

$ 35,133

$34,197

6

VERITONE, INC.

RECONCILIATION OF NON-GAAP GROSS PROFIT TO LOSS FROM OPERATIONS

(in thousands)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2023

2022

2023

2022

Loss from operations

$

(17,505)

$

(9,951)

$

(92,336)

$

(37,995)

Sales and marketing

13,318

13,780

52,024

51,345

Research and development

9,634

10,854

42,090

43,589

General and administrative

16,307

17,050

73,811

44,177

Amortization

5,948

5,450

23,715

21,180

Non-GAAP gross profit

$

27,702

$

37,183

$

99,304

$

122,296

7

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Veritone Inc. published this content on 05 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2024 04:12:04 UTC.