Veritone, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Consolidated Financial Statements Details (Tables)

Consolidated Financial Statements Details (Tables)

6 Months Ended

Jun. 30, 2022

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Accounts receivable consisted of the following:

	As of
	June 30,			December 31,
	2022			2021
Accounts receivable — Managed Services⁽¹⁾	$	31,217		$	21,347
Accounts receivable — Software Products & Services⁽²⁾		19,155			59,568
Accounts receivable — Other		1,012			4,926
		51,384			85,841
Less: allowance for doubtful accounts		(1,250	)		(778	)
Accounts receivable, net	$	50,134		$	85,063

⁽¹⁾

Accounts receivable – Managed Services reflects the amounts due from the Company’s advertising customers.

⁽²⁾

Accounts receivable – Software Products & Services reflects the amounts due from the Company’s PandoLogic customers.

Summary of Property Equipment and Improvements, Net

Property, equipment and improvements, net consisted of the following:

	As of
	June 30,			December 31,
	2022			2021
Property and equipment	$	6,027		$	4,262
Leasehold improvements		252			167
		6,279			4,429
Less: accumulated depreciation		(2,879	)		(2,873	)
Property, equipment and improvements, net	$	3,400		$	1,556

Summary of Accounts Payable

Accounts payable consisted of the following:

	As of
	June 30,		December 31,
	2022		2021
Accounts payable — Managed Services⁽¹⁾	$	22,253	$	23,613
Accounts payable — Other		7,960		23,098
Total	$	30,213	$	46,711

⁽¹⁾

Accounts payable – Managed Services reflects the amounts due to media vendors for advertisements placed on behalf of the Company’s advertising clients.

Summary of Revenue

Revenue for the periods presented were comprised of the following:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Commercial Enterprise	$	33,364	$	18,758	$	66,990	$	35,763
Government & Regulated Entities		871		448		1,652		1,738
Total revenue	$	34,235	$	19,206	$	68,642	$	37,501

Summary of Presentation of Revenues

The table below illustrates the presentation of our revenues based on the above definitions:

	Three Months Ended						Six Months Ended
	June 30, 2022						June 30, 2022
			Government &						Government &
	Commercial		Regulated				Commercial		Regulated
	Enterprise		Industries		Total		Enterprise		Industries		Total
Total Software Products & Services⁽¹⁾	$	17,508	$	871	$	18,379	$	34,894	$	1,652	$	36,546

Managed Services
Advertising		10,635		—		10,635		21,603		—		21,603
Licensing		5,221		—		5,221		10,493		—		10,493
Total Managed Services		15,856		—		15,856		32,096		—		32,096

Total Revenue	$	33,364	$	871	$	34,235	$	66,990	$	1,652	$	68,642

⁽¹⁾

Software Products & Services consists of aiWARE revenues of $9,486 and $12,857 for the three and six months ended June 30, 2022, respectively, as well as PandoLogic revenues of $8,893 and $23,689 for the three and six months ended June 30, 2022, respectively.

	Three Months Ended						Six Months Ended
	June 30, 2021						June 30, 2021
			Government &						Government &
	Commercial		Regulated				Commercial		Regulated
	Enterprise		Industries		Total		Enterprise		Industries		Total
Total Software Products & Services	$	5,132	$	448	$	5,580	$	8,527	$	1,738	$	10,265

Managed Services
Advertising		9,969		—		9,969		20,296		—		20,296
Licensing		3,657		—		3,657		6,940		—		6,940
Total Managed Services		13,626		—		13,626		27,236		—		27,236

Total Revenue	$	18,758	$	448	$	19,206	$	35,763	$	1,738	$	37,501

Schedule of Other Expense, Net

Other expense, net for the periods presented was comprised of the following:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2022			2021			2022			2021
Interest (expense) income, net	$	(1,183	)	$	2		$	(2,365	)	$	4
Other		(48	)		(15	)		(52	)		(26	)
Other expense, net	$	(1,231	)	$	(13	)	$	(2,417	)	$	(22	)