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

Quarterly report pursuant to Section 13 or 15(d)

Business Combinations (Tables)

Business Combinations (Tables)

9 Months Ended

Sep. 30, 2021

Summary of Unaudited Proforma Information

The unaudited pro forma financial information was as follows (in thousands):

The Company recognized $4,311 in revenue and $1,889 of net income related to PandoLogic since the acquisition date of September 14 through September 30, 2021 in the condensed consolidated statement of operations and comprehensive loss.

	Three Months Ended			Nine Months ended
	September 30,			September 30,
	2021			2021
Net revenue	$	35,488		$	92,980
Loss before provision for income taxes	$	(8,910	)	$	(52,199	)
Net loss	$	(9,237	)	$	(53,445	)


	Three Months Ended			Nine Months ended
	September 30,			September 30,
	2020			2020
Net revenue	$	26,521		$	61,809
Loss before provision for income taxes	$	(8,311	)	$	(36,880	)
Net loss	$	(7,974	)	$	(35,273	)

Pandologic Ltd [Member]

Summary of Preliminary Allocation of Purchase Consideration

The following table summarizes the fair value of the purchase price consideration (in thousands):

Acquisition consideration	Amount
Cash consideration at closing	$	58,733
Equity consideration at closing		31,500
Contingent earnout		26,400
Total	$	116,633

The preliminary allocation of the purchase consideration to tangible and intangible assets acquired and liabilities assumed is based on estimated fair values and is as follows (in thousands):

Purchase price allocation**	Amount
Cash	$	11,131
Accounts receivable		21,344
Prepaid and other current assets		8,986
Property and equipment		618
Intangible assets		86,000
Other assets		1,543
Total assets acquired		129,622
Accounts payable		13,183
Accrued expenses and other current liabilities		8,828
Deferred tax liability		12,073
Total liabilities assumed		34,084
Identifiable net assets acquired	$	95,538
Goodwill		21,095
Total preliminary purchase consideration	$	116,633

Summary of Valuation of Intangible Assets

The valuation of the intangible assets acquired from PandoLogic along with their estimated useful lives, is as follows (in thousands):

	Estimated Fair Value		Estimated Useful Lives (in years)
Customer relationships		68,000		7
Developed technology		16,000	4
Trade name		2,000		5
Total intangible assets	$	86,000