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

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net (Tables)

Goodwill and Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Changes in Carrying Amount of Goodwill

The following table presents the changes in the carrying amount of goodwill:

	Carrying Amount
Balance as of December 31, 2018	$	5,509
Performance Bridge working capital adjustment		34
Wazee Digital purchase accounting adjustment		(123	)
Balance as of June 30, 2019	$	5,420

Summary of Intangible Assets, Net

Intangible assets, net consisted of the following:

			June 30, 2019							December 31, 2018
	Weighted		Gross					Net		Gross					Net
	Average Useful		Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Life (in years)		Amount		Amortization			Amount		Amount		Amortization			Amount
Acquired software and technology		1.3	$	3,576	$	(2,031	)	$	1,545	$	3,576	$	(1,613	)	$	1,963
Licensed technology		2.1		500		(125	)		375		500		(42	)		458
Developed technology		4.1		10,077		(1,613	)		8,464		9,600		(792	)		8,808
Customer relationships		4.1		9,300		(1,550	)		7,750		9,300		(733	)		8,567
Trademarks and trade names		1.4		100		(37	)		63		100		(15	)		85
Noncompete agreements		3.0		800		(174	)		626		800		(201	)		599
Total		3.6	$	24,353	$	(5,530	)	$	18,823	$	23,876	$	(3,396	)	$	20,480

Summary of Amortization Expense Associated with Finite-Lived Intangible Assets

The following table presents amortization expense associated with the Company’s finite-lived intangible assets, which is included in the consolidated statement of operations and comprehensive loss:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Cost of revenues	$	535	$	48	$	905	$	96
Sales and marketing		319		—		391		—
Research and development		256		256		512		517
General and administrative		212		3		355		5
Total	$	1,322	$	307	$	2,163	$	618

Summary of Future Amortization of Finite-Lived Intangible Assets

The following table presents future amortization of the Company’s finite-lived intangible assets at June 30, 2019:

2019 (6 months)	$	2,697
2020		5,382
2021		4,261
2022		3,963
2023		2,520
Total	$	18,823