Veritone, Inc(NASDAQ:VERI) 
Veritone, Inc., together with its subsidiaries, provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. The company develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models, such as cognitive queri...
Website: http://www.veritone.com
Founded: 2014
IPO Price: $15 (May 12, 2017)
Full Time Employees: 277
CEO / Founder: Chad Steelberg
Sector: Technology
Industry: Software-Infrastructure
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 |
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revenue | 16,598,000 | 29,118,000 | 24,013,000 | 22,463,000 | 22,433,000 | 21,993,000 | 30,992,000 | 31,636,000 | 34,197,000 | 35,133,000 | 27,967,000 | 30,263,000 | 43,890,000 | 37,196,000 | 34,235,000 | 34,407,000 | |
yoy | -26.01% | 32.40% | -22.52% | -29.00% | -34.40% | -37.40% | 10.82% | 4.54% | -22.08% | -5.55% | -18.31% | -12.04% | |||||
qoq | -43.00% | 21.26% | 6.90% | 0.13% | 2.00% | -29.04% | -2.04% | -7.49% | -2.66% | 25.62% | -7.59% | -31.05% | 18.00% | 8.65% | -0.50% | ||
operating expenses: | |||||||||||||||||
cost of revenue | 5,729,000 | 8,567,000 | 7,478,000 | 7,834,000 | 7,640,000 | 6,325,000 | 6,580,000 | 7,046,000 | 6,495,000 | 7,187,000 | 7,765,000 | 6,809,000 | 6,707,000 | 7,097,000 | 6,705,000 | 6,923,000 | |
sales and marketing | 10,977,000 | 10,511,000 | 11,096,000 | 10,105,000 | 8,607,000 | 10,186,000 | 12,674,000 | 11,804,000 | 13,318,000 | 12,892,000 | 13,124,000 | 12,690,000 | 13,780,000 | 13,920,000 | 12,576,000 | 11,069,000 | |
research and development | 5,079,000 | 5,494,000 | 4,932,000 | 5,206,000 | 3,429,000 | 7,528,000 | 6,645,000 | 9,215,000 | 9,634,000 | 10,410,000 | 10,519,000 | 11,527,000 | 10,854,000 | 11,784,000 | 11,068,000 | 9,883,000 | |
general and administrative | 13,629,000 | 12,978,000 | 12,653,000 | 14,004,000 | 13,292,000 | 14,421,000 | 16,765,000 | 19,420,000 | 16,307,000 | 21,082,000 | 19,025,000 | 17,397,000 | 17,050,000 | 2,502,000 | 2,304,000 | 28,917,000 | |
depreciation and amortization | 5,684,000 | 7,370,000 | 7,172,000 | 6,948,000 | |||||||||||||
total operating expenses | 41,098,000 | 44,920,000 | 43,331,000 | 44,097,000 | 43,472,000 | 44,485,000 | 48,654,000 | 53,476,000 | 51,702,000 | 58,195,000 | 56,147,000 | 53,852,000 | 53,841,000 | 40,807,000 | 37,864,000 | 61,485,000 | |
operating income | -24,500,000 | -15,802,000 | -19,318,000 | -21,634,000 | |||||||||||||
yoy | |||||||||||||||||
qoq | 55.04% | -18.20% | -10.71% | ||||||||||||||
operating margin % | -147.61% | -54.27% | -80.45% | -96.31% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | |
interest expense | 1,254,000 | 2,908,000 | 3,434,000 | 2,628,000 | |||||||||||||
other expense | -67,000 | 8,453,000 | 3,162,000 | -4,061,000 | -916,500 | -1,249,000 | -1,231,000 | -1,186,000 | |||||||||
loss from continuing operations before income taxes | -38,682,000 | -27,163,000 | -25,914,000 | -20,201,000 | |||||||||||||
income taxes | 68,750 | -283,000 | 884,000 | -326,000 | |||||||||||||
net income from continuing operations | -38,179,000 | -26,880,000 | -26,798,000 | -19,875,000 | -24,260,000 | -22,511,000 | |||||||||||
net income from discontinued operations, net of income taxes | |||||||||||||||||
net income | -38,179,000 | -26,880,000 | -26,798,000 | -19,875,000 | 31,791,000 | -21,746,000 | -22,231,000 | -25,198,000 | 12,175,000 | -24,541,000 | -23,296,000 | -22,963,000 | 4,711,000 | -4,886,000 | -3,253,000 | -28,441,000 | |
yoy | -220.09% | 23.61% | 20.54% | -21.12% | 161.12% | -11.39% | -4.57% | 9.73% | 158.44% | 402.27% | 616.14% | -19.26% | |||||
qoq | 42.03% | 0.31% | 34.83% | -162.52% | -246.19% | -2.18% | -11.77% | -306.97% | -149.61% | 5.34% | 1.45% | -587.43% | -196.42% | 50.20% | -88.56% | ||
net income margin % | -230.02% | -92.31% | -111.60% | -88.48% | 141.72% | -98.88% | -71.73% | -79.65% | 35.60% | -69.85% | -83.30% | -75.88% | 10.73% | -13.14% | -9.50% | -82.66% | |
earnings per share: | |||||||||||||||||
loss per share from continuing operations, basic and diluted | -0.41 | -0.41 | -0.54 | -0.41 | |||||||||||||
earnings per share from discontinued operations, basic and diluted | |||||||||||||||||
loss per share, basic and diluted | -0.41 | -0.41 | -0.54 | -0.41 | |||||||||||||
weighted-average common shares outstanding used in computing loss per share, basic and diluted | 63,316 | 64,947 | 49,626,642 | 48,343,476 | |||||||||||||
comprehensive loss: | |||||||||||||||||
foreign currency translation adjustment, net of income taxes | -209 | 244 | -660 | -420 | |||||||||||||
total comprehensive loss | -36,476 | -26,636 | -27,458 | -20,295 | 32,005 | -21,735 | -22,451 | -24,979 | -17,703.5 | -22,792 | -24,293 | -23,729 | 4,097 | -4,820 | -2,867 | -28,251 | |
amortization | 4,501,500 | 6,025,000 | 5,990,000 | 5,991,000 | 5,948,000 | 6,624,000 | 5,714,000 | 5,429,000 | 5,450,000 | 5,504,000 | 5,211,000 | 4,693,000 | |||||
income from operations | -21,039,000 | -22,492,000 | -17,662,000 | -21,840,000 | -17,505,000 | -23,062,000 | -28,180,000 | -23,589,000 | -9,951,000 | -3,611,000 | -3,629,000 | -27,078,000 | |||||
other income | 8,702,000 | -2,594,000 | -4,612,000 | -4,403,000 | -769,000 | -2,456,000 | 3,510,000 | 355,000 | |||||||||
loss from continuing operations before provision for income taxes | -24,408,000 | -25,086,000 | |||||||||||||||
provision for income taxes | -928,250 | -2,575,000 | -43,000 | -1,045,000 | -426,000 | -977,000 | -271,000 | 3,751,000 | 26,000 | -1,607,000 | 177,000 | ||||||
net income from discontinued operations | 56,051,000 | 765,000 | |||||||||||||||
net income per share | |||||||||||||||||
basic and diluted net loss from continuing operations | -0.478 | -0.59 | |||||||||||||||
basic and diluted net income from discontinued operations | 0.02 | 0.02 | |||||||||||||||
basic and diluted net loss | -0.458 | -0.57 | |||||||||||||||
weighted-average shares outstanding: | |||||||||||||||||
basic and diluted | 38,034,546 | 38,086,765 | 37,814,019 | 37,353,228 | 36,991,650 | 36,848,602 | 36,587,946 | 36,033,560 | 36,202,496 | 36,083,515 | 35,476,948 | ||||||
foreign currency translation gain, net of income taxes | 214 | 11 | -220 | 219 | -3.5 | 1,749 | -997 | -766 | -614 | 66 | 386 | 190 | |||||
income before provision for income taxes | -22,274,000 | -26,243,000 | 11,749,000 | -25,518,000 | -24,670,000 | -23,234,000 | 8,462,000 | -4,860,000 | -4,860,000 | -28,264,000 | |||||||
net income per share | |||||||||||||||||
basic and diluted | -0.59 | -0.67 | -0.48 | -0.66 | -0.63 | -0.63 | 0.13 | -0.13 | -0.09 | -0.8 | |||||||
benefit from income taxes | -1,374,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||
current assets: | |||||||||||||||||
cash and cash equivalents | 27,426,000 | 36,233,000 | 13,568,000 | 16,082,000 | 16,911,000 | 11,422,000 | 46,024,000 | 90,733,000 | 79,439,000 | 72,070,000 | 62,674,000 | 139,707,000 | 184,423,000 | 196,071,000 | 220,463,000 | 237,553,000 | 254,722,000 |
accounts receivable | 36,768,000 | 35,165,000 | 31,859,000 | 33,823,000 | 31,997,000 | 33,859,000 | 53,927,000 | 45,749,000 | 69,266,000 | 49,691,000 | 47,618,000 | 54,071,000 | 56,001,000 | 85,951,000 | 50,134,000 | 66,975,000 | 85,063,000 |
prepaid expenses and other current assets | 9,720,000 | 13,311,000 | 12,513,000 | 11,384,000 | 10,498,000 | 6,162,000 | 13,010,000 | 15,844,000 | 14,457,000 | 15,179,000 | 19,861,000 | 13,585,000 | 15,242,000 | 16,963,000 | 14,365,000 | 12,519,000 | 12,117,000 |
total current assets | 73,914,000 | 84,709,000 | 57,940,000 | 61,289,000 | 59,406,000 | 165,415,000 | 141,910,000 | 172,369,000 | 182,770,000 | 161,387,000 | 152,422,000 | 220,398,000 | 278,005,000 | 322,770,000 | 302,937,000 | 336,740,000 | 379,082,000 |
property, equipment, and improvements | 9,582,000 | 9,949,000 | 10,676,000 | 10,461,000 | |||||||||||||
intangible assets | 38,639,000 | 42,328,000 | 47,732,000 | 53,546,000 | 59,500,000 | 65,488,000 | 71,447,000 | 77,443,000 | 83,423,000 | 89,397,000 | 96,866,000 | 74,555,000 | 79,664,000 | 85,195,000 | 89,370,000 | 86,563,000 | 88,247,000 |
goodwill | 54,256,000 | 53,110,000 | 53,110,000 | 53,110,000 | 53,110,000 | 53,110,000 | 79,828,000 | 79,828,000 | 80,247,000 | 78,388,000 | 78,355,000 | 46,460,000 | 46,498,000 | 46,465,000 | 45,787,000 | 36,630,000 | 34,058,000 |
restricted cash | 289,000 | 289,000 | 288,000 | 287,000 | 407,000 | ||||||||||||
other assets | 5,600,000 | 9,836,000 | 17,060,000 | 20,954,000 | 15,585,000 | 7,022,000 | 17,896,000 | 19,907,000 | 19,851,000 | 17,787,000 | 16,017,000 | 13,901,000 | 14,435,000 | 9,868,000 | 9,603,000 | 6,078,000 | 954,000 |
total assets | 182,280,000 | 200,221,000 | 186,806,000 | 199,647,000 | 198,060,000 | 336,425,000 | 321,802,000 | 359,641,000 | 375,814,000 | 359,423,000 | 355,922,000 | 362,570,000 | 424,752,000 | 469,791,000 | 451,953,000 | 469,004,000 | 504,752,000 |
liabilities and stockholders’ equity | |||||||||||||||||
current liabilities: | |||||||||||||||||
accounts payable | 16,487,000 | 11,462,000 | 15,088,000 | 13,166,000 | 11,023,000 | 9,356,000 | 33,366,000 | 36,588,000 | 32,756,000 | 40,512,000 | 30,821,000 | 38,015,000 | 36,738,000 | 31,437,000 | 30,213,000 | 38,345,000 | 46,711,000 |
deferred revenue | 12,290,000 | 12,423,000 | 12,345,000 | 13,463,000 | 12,056,000 | 12,836,000 | 13,466,000 | 13,415,000 | 12,813,000 | 11,821,000 | 12,742,000 | ||||||
term loan, current portion | 7,750,000 | 7,750,000 | 7,750,000 | 7,750,000 | 38,262,000 | 7,750,000 | |||||||||||
convertible notes, current portion | 45,317,000 | ||||||||||||||||
accrued purchase compensation, current portion | 1,500,000 | 1,350,000 | 1,213,000 | 1,175,000 | |||||||||||||
accrued expenses and other current liabilities | 28,186,000 | 31,671,000 | 28,446,000 | 26,504,000 | |||||||||||||
total current liabilities | 103,780,000 | 64,656,000 | 64,842,000 | 62,058,000 | 60,957,000 | 249,287,000 | 181,658,000 | 197,671,000 | 188,825,000 | 186,243,000 | 161,340,000 | 152,147,000 | 193,323,000 | 185,808,000 | 170,402,000 | 165,767,000 | 191,276,000 |
convertible notes | 90,575,000 | 90,428,000 | 90,281,000 | 90,135,000 | |||||||||||||
term loan, non-current portion | 17,892,000 | 18,669,000 | 20,437,000 | ||||||||||||||
accrued purchase compensation, non-current portion | |||||||||||||||||
other non-current liabilities | 10,376,000 | 11,080,000 | 11,649,000 | 12,117,000 | 11,300,000 | 8,653,000 | 11,502,000 | 12,531,000 | 13,625,000 | 15,744,000 | 17,330,000 | 11,721,000 | 13,811,000 | 16,680,000 | 15,344,000 | 16,440,000 | 13,078,000 |
total liabilities | 114,156,000 | 184,203,000 | 185,588,000 | 184,893,000 | 184,608,000 | 361,586,000 | 327,496,000 | 344,776,000 | 337,667,000 | 340,720,000 | 316,869,000 | 301,850,000 | 344,901,000 | 399,018,000 | 381,732,000 | 413,004,000 | 424,173,000 |
commitments and contingencies | |||||||||||||||||
stockholders’ equity: | |||||||||||||||||
common stock, 0.001 par value... | 93,000 | 72,000 | |||||||||||||||
additional paid-in capital | 645,962,000 | 557,401,000 | 515,982,000 | 502,070,000 | 480,477,000 | 473,871,000 | 471,603,000 | 469,712,000 | 468,015,000 | 460,827,000 | 458,385,000 | 455,759,000 | 451,162,000 | 446,181,000 | 440,809,000 | 435,954,000 | 431,606,000 |
accumulated other comprehensive income | 1,081,000 | -622,000 | -866,000 | -206,000 | 214,000 | -11,000 | 209,000 | -76,000 | 538,000 | 472,000 | 86,000 | -104,000 | |||||
accumulated deficit | -579,012,000 | -540,833,000 | -513,953,000 | -487,155,000 | -467,280,000 | -499,071,000 | -477,325,000 | -455,094,000 | -429,896,000 | -442,071,000 | -417,530,000 | -394,234,000 | -371,271,000 | -375,982,000 | -371,096,000 | -380,076,000 | -350,958,000 |
total stockholders’ equity | 68,124,000 | 16,018,000 | |||||||||||||||
total liabilities and stockholders’ equity | 182,280,000 | 200,221,000 | |||||||||||||||
liabilities and stockholders' equity | |||||||||||||||||
stockholders' equity | |||||||||||||||||
common stock, par value 0.001 per share... | 55,000 | 45,000 | 41,000 | 39,000 | 39,000 | 38,000 | 38,000 | 37,000 | 37,000 | 37,000 | 36,000 | 36,000 | 36,000 | 36,000 | 35,000 | ||
total stockholders' equity | 1,218,000 | 14,754,000 | 13,452,000 | -25,161,000 | -5,694,000 | 14,865,000 | 38,147,000 | 18,703,000 | 39,053,000 | 60,720,000 | 79,851,000 | 70,773,000 | 70,221,000 | 56,000,000 | 80,579,000 | ||
total liabilities and stockholders' equity | 186,806,000 | 199,647,000 | 198,060,000 | 336,425,000 | 321,802,000 | 359,641,000 | 375,814,000 | 359,423,000 | 355,922,000 | 362,570,000 | 424,752,000 | 469,791,000 | 451,953,000 | 469,004,000 | 504,752,000 | ||
current assets of discontinued operations | 113,972,000 | ||||||||||||||||
property, equipment and improvements | 10,052,000 | 9,864,000 | 9,788,000 | 9,165,000 | 8,656,000 | 11,595,000 | 11,397,000 | 6,394,000 | 5,291,000 | 4,636,000 | 3,400,000 | 2,137,000 | 1,556,000 | ||||
non-current assets of discontinued operations | 34,590,000 | ||||||||||||||||
accrued purchase compensation, current | 1,200,000 | ||||||||||||||||
accrued expenses and other accrued liabilities | 28,928,000 | ||||||||||||||||
current liabilities of discontinued operations | 158,540,000 | ||||||||||||||||
term loan, non-current | 21,316,000 | 12,906,000 | 43,890,000 | ||||||||||||||
accrued purchase compensation, non-current | 900,000 | ||||||||||||||||
long-term restricted cash | 936,000 | 933,000 | 929,000 | 867,000 | 869,000 | 865,000 | 862,000 | 859,000 | 857,000 | 856,000 | 856,000 | 855,000 | |||||
accrued purchase consideration, current | 983,000 | 919,000 | |||||||||||||||
accrued media payments | 2,906,000 | 69,300,000 | 84,848,000 | 93,896,000 | 84,346,000 | 67,472,000 | 82,407,000 | 102,064,000 | 107,693,000 | 81,569,000 | 96,327,000 | 86,923,000 | |||||
client advances | 17,000 | 33,341,000 | 28,295,000 | 15,452,000 | 14,867,000 | 14,170,000 | 3,412,000 | 19,042,000 | 13,696,000 | 11,977,000 | 7,968,000 | 10,561,000 | |||||
other accrued liabilities | 26,387,000 | 23,516,000 | 26,275,000 | 27,095,000 | 34,197,000 | 36,135,000 | 28,123,000 | 27,412,000 | 25,835,000 | 24,963,000 | 22,993,000 | 27,093,000 | |||||
convertible notes, non-current | 89,990,000 | 89,846,000 | |||||||||||||||
accrued purchase consideration, non-current | 750,000 | 600,000 | |||||||||||||||
accumulated other comprehensive loss | -10,000 | -90,000 | -1,839,000 | -842,000 | |||||||||||||
expenditures billable to clients | 28,949,000 | 20,043,000 | 19,608,000 | 24,447,000 | 22,269,000 | 13,035,000 | 22,339,000 | 23,785,000 | 17,975,000 | 19,693,000 | 27,180,000 | ||||||
senior secured term loan, current portion | 7,750,000 | 5,813,000 | |||||||||||||||
contingent consideration, current | 500,000 | 1,000,000 | 500,000 | 190,000 | 8,067,000 | 7,147,000 | 21,680,000 | 134,000 | 19,988,000 | ||||||||
convertible senior notes, non-current | 89,717,000 | 89,572,000 | 138,416,000 | 138,199,000 | 137,982,000 | 137,767,000 | 195,984,000 | 195,681,000 | 195,381,000 | 195,082,000 | |||||||
senior secured term loan, non-current | 44,407,000 | 45,012,000 | |||||||||||||||
contingent consideration, non-current | 450,000 | 633,000 | 317,000 | 546,000 | 305,000 | 35,416,000 | 24,737,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||
net loss | -38,179,000 | -26,880,000 | -26,798,000 | -19,875,000 | 31,791,000 | -21,746,000 | -22,231,000 | -25,198,000 | 12,175,000 | -24,541,000 | -23,296,000 | -22,963,000 | 4,711,000 | -4,886,000 | 3,059,000 | -28,441,000 |
less: net income from discontinued operations, net of income taxes | ||||||||||||||||
net loss from continuing operations | -38,179,000 | -26,880,000 | -26,798,000 | -19,875,000 | ||||||||||||
adjustments to reconcile net loss from continuing operations to net cash from operating activities from continuing operations: | ||||||||||||||||
depreciation and amortization | 5,684,000 | 7,370,000 | 7,172,000 | 6,948,000 | 6,811,000 | 7,239,000 | 6,958,000 | 7,502,000 | 5,948,000 | 7,858,000 | 6,389,000 | 5,907,000 | 5,999,000 | 5,824,000 | 5,779,000 | 4,891,000 |
stock-based compensation | 1,590,000 | 1,643,000 | 1,710,000 | 1,743,000 | ||||||||||||
non-cash interest expense | 645,000 | 1,304,000 | 1,303,000 | 1,204,000 | ||||||||||||
deferred income taxes | -757,000 | -266,000 | 232,000 | -547,000 | ||||||||||||
provision for credit losses | -410,000 | 657,000 | 248,000 | 420,000 | 471,000 | 125,000 | 314,000 | 234,000 | 104,000 | 183,000 | 57,000 | -72,000 | ||||
reduction in carrying amount of operating lease right-of-use assets | 130,000 | 267,000 | 285,000 | 204,000 | ||||||||||||
gain on troubled debt restructuring | ||||||||||||||||
loss on debt extinguishment | ||||||||||||||||
non-cash barter revenue | ||||||||||||||||
change in fair value of earnout receivable | 454,000 | 7,997,000 | 2,870,000 | -3,654,000 | ||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||
accounts receivable | -1,227,000 | -3,929,000 | 1,717,000 | -2,247,000 | -2,011,000 | -11,833,000 | -8,491,000 | 23,283,000 | -19,772,000 | -2,256,000 | 14,306,000 | 2,002,000 | 29,288,000 | -35,175,000 | 16,563,000 | 18,982,000 |
prepaid expenses and other current assets | 3,644,000 | -2,136,000 | 1,702,000 | -887,000 | ||||||||||||
other assets | 3,622,000 | -1,277,000 | -8,000 | -3,000 | -3,245,000 | 3,238,000 | -131,000 | 318,000 | -904,000 | 313,000 | -1,847,000 | 234,000 | -4,990,000 | 382,000 | -4,055,000 | -895,000 |
accounts payable | 6,798,000 | -5,012,000 | 1,426,000 | 2,144,000 | 2,885,000 | -8,955,000 | -3,223,000 | 3,832,000 | -7,854,000 | 9,691,000 | -8,563,000 | 1,277,000 | 5,301,000 | 1,224,000 | -8,138,000 | -8,384,000 |
deferred revenue | -133,000 | 78,000 | -1,118,000 | 1,407,000 | -780,000 | -630,000 | 51,000 | 602,000 | 1,097,000 | -921,000 | ||||||
accrued expenses and other current liabilities | -3,369,000 | 4,362,000 | 980,000 | -3,777,000 | ||||||||||||
other non-current liabilities | 82,000 | -64,000 | 46,000 | -124,000 | ||||||||||||
net cash from operating activities from continuing operations | -12,042,000 | |||||||||||||||
net cash from operating activities from discontinued operations | ||||||||||||||||
net cash from operating activities | -12,042,000 | -15,886,000 | -8,233,000 | -17,044,000 | -500,000 | 3,568,000 | -43,722,000 | 15,931,000 | -28,310,000 | 10,422,000 | -24,748,000 | -33,785,000 | 28,367,000 | -20,345,000 | -14,419,000 | 10,134,000 |
cash flows from investing activities: | ||||||||||||||||
capital expenditures | -1,445,000 | -1,222,000 | -958,000 | -1,353,000 | -964,000 | -1,735,000 | -1,498,000 | -1,901,000 | -1,066,000 | -1,357,000 | -1,250,000 | -1,447,000 | -988,000 | -1,519,000 | -1,523,000 | -735,000 |
free cash flows | -13,487,000 | -17,108,000 | -9,191,000 | -18,397,000 | -1,464,000 | 1,833,000 | -45,220,000 | 14,030,000 | -29,376,000 | 9,065,000 | -25,998,000 | -35,232,000 | 27,379,000 | -21,864,000 | -15,942,000 | 9,399,000 |
proceeds from sale of veritone one, net of cash divested | ||||||||||||||||
sale of non-marketable equity investment | ||||||||||||||||
net cash from investing activities from continuing operations | -1,445,000 | |||||||||||||||
net cash from investing activities from discontinued operations | ||||||||||||||||
net cash from investing activities | -1,445,000 | -1,222,000 | -958,000 | -1,353,000 | 1,726,000 | -1,735,000 | 302,000 | -1,901,000 | -1,139,000 | 1,333,000 | -52,131,000 | -2,947,000 | -988,000 | -4,246,000 | -2,816,000 | -4,054,000 |
cash flows from financing activities: | ||||||||||||||||
repayment of principal on senior secured term loan | ||||||||||||||||
repayment of principal on convertible debt | ||||||||||||||||
proceeds from issuance of stock and pre-funded warrants under registered direct offerings and at-the-market offering, net of offering costs | 83,804,000 | 41,447,000 | ||||||||||||||
debt issuance and extinguishment costs | ||||||||||||||||
proceeds from issuance of stock under employee stock plans | 246,000 | 159,000 | 0 | 140,000 | ||||||||||||
taxes paid related to net share settlement of equity awards | -228,000 | -53,000 | -56,000 | -285,000 | -290,000 | -197,000 | -65,000 | -85,000 | -151,000 | -852,000 | -40,000 | -217,000 | -68,000 | -9,441,000 | ||
settlement of deferred consideration for acquisitions | 0 | -1,800,000 | 0 | |||||||||||||
net cash from financing activities from continuing operations | 4,550,000 | |||||||||||||||
net cash from financing activities from discontinued operations | ||||||||||||||||
net cash from financing activities | 4,550,000 | 39,615,000 | 7,398,000 | 17,861,000 | -31,167,000 | -1,936,000 | -1,285,000 | -2,674,000 | 36,816,000 | -2,355,000 | -151,000 | -7,981,000 | -39,025,000 | 200,000 | 145,000 | -23,248,000 |
effect of exchange rates on cash, cash equivalents, and restricted cash | 129,000 | 160,000 | -720,000 | -413,000 | ||||||||||||
net change in cash, cash equivalents, and restricted cash | -8,808,000 | 22,667,000 | -2,513,000 | -949,000 | ||||||||||||
cash, cash equivalents, and restricted cash, beginning of period | 0 | 0 | 0 | 17,318,000 | ||||||||||||
cash, cash equivalents, and restricted cash, end of period | -8,808,000 | 22,667,000 | -2,513,000 | 16,369,000 | ||||||||||||
cash, cash equivalents, and restricted cash included in continuing operations | -8,808,000 | 22,667,000 | -2,513,000 | 16,369,000 | ||||||||||||
supplemental disclosure of cash flow information | ||||||||||||||||
cash paid during the period for: | ||||||||||||||||
income taxes paid | ||||||||||||||||
interest paid | ||||||||||||||||
non-cash investing and financing activities: | ||||||||||||||||
stock-based compensation capitalized as part of internal-use software | 40,000 | 42,000 | 53,000 | 57,000 | ||||||||||||
lease liabilities arising from right-of-use assets | 0 | 0 | 0 | 1,840,000 | 0 | 0 | 937,000 | 499,000 | 0 | 0 | 0 | 4,501,000 | ||||
shares issued for debt issuance costs | 0 | 0 | ||||||||||||||
common stock issued in connection with repurchase of convertible senior notes | ||||||||||||||||
fair value of earnout receivable - sale of veritone one | ||||||||||||||||
fair value of indemnification receivable - sale of veritone one | ||||||||||||||||
capital expenditures included in accounts payable | -280,000 | -108,000 | ||||||||||||||
repayment of senior secured term loan | -1,938,000 | -1,937,000 | -1,938,000 | |||||||||||||
debt issuance costs | 0 | |||||||||||||||
less: cash, cash equivalents, and restricted cash included in discontinued operations | ||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||
net cash from operating activities – continuing operations | -8,233,000 | -17,044,000 | ||||||||||||||
net cash from operating activities – discontinued operations | ||||||||||||||||
net cash from investing activities – continuing operations | -958,000 | -1,353,000 | ||||||||||||||
net cash from investing activities – discontinued operations | ||||||||||||||||
net cash from financing activities – continuing operations | 7,398,000 | 17,861,000 | ||||||||||||||
net cash from financing activities – discontinued operations | ||||||||||||||||
less: cash, cash equivalents, restricted cash included in discontinued operations | ||||||||||||||||
proceeds from issuance of stock and pre-funded warrants under registered direct offering, net of offering costs | 19,944,000 | |||||||||||||||
less: net income from discontinued operations | ||||||||||||||||
change in fair value of contingent compensation | ||||||||||||||||
stock-based compensation expense | 1,777,000 | 2,181,000 | 2,139,000 | 1,608,000 | 2,304,000 | 2,032,000 | 2,697,000 | 3,917,000 | 4,381,000 | 5,172,000 | 4,715,000 | 4,847,000 | ||||
gain on sale of energy group | 0 | 0 | ||||||||||||||
change in deferred taxes | 76,000 | -2,504,000 | -1,128,000 | -1,336,000 | -2,126,000 | -1,030,000 | -1,517,000 | -311,000 | 516,000 | -138,000 | -1,514,000 | -426,000 | ||||
amortization of debt issuance costs and debt discounts | -430,000 | 1,609,000 | ||||||||||||||
amortization of right-of-use assets | 430,000 | 162,000 | -14,000 | 251,000 | 434,000 | 478,000 | 349,000 | 300,000 | 421,000 | 101,000 | ||||||
gain on debt extinguishment | ||||||||||||||||
changes in assets and liabilities: | ||||||||||||||||
other accrued liabilities | 4,000 | 4,028,000 | -3,195,000 | 1,297,000 | -7,591,000 | -1,938,000 | 4,441,000 | 2,211,000 | 1,577,000 | 1,101,000 | 1,826,000 | -6,104,000 | ||||
other liabilities | 2,434,000 | -271,000 | 99,000 | 242,000 | 954,000 | -556,000 | -439,000 | -1,779,000 | -3,385,000 | 1,223,000 | -2,843,000 | -116,000 | ||||
sale of gridbeyond | ||||||||||||||||
sale of veritone one, net of cash divested | ||||||||||||||||
sale of energy group | ||||||||||||||||
acquisitions, net of cash acquired | -73,000 | 0 | -48,695,000 | -1,500,000 | 0 | -1,977,000 | -1,293,000 | -1,319,000 | ||||||||
proceeds from issuance of common stock | ||||||||||||||||
proceeds from issuance of senior secured term loan | ||||||||||||||||
payment of debt issuance costs | ||||||||||||||||
repurchase of convertible senior notes | ||||||||||||||||
payment of contingent consideration | -1,000,000 | 5,082,000 | ||||||||||||||
proceeds from issuances of stock under employee stock plans | 122,000 | 198,000 | 109,000 | 126,000 | 1,000 | 420,000 | 0 | 643,000 | 148,000 | 417,000 | 213,000 | 569,000 | ||||
payment of term loan principal | ||||||||||||||||
net decrease in cash, cash equivalents, and restricted cash | ||||||||||||||||
change in fair value of contingent consideration | 816,000 | 817,000 | 0 | 651,000 | 355,000 | -14,291,000 | -20,426,000 | 11,641,000 | ||||||||
imputed non-cash interest income | -69,000 | -87,000 | -107,000 | |||||||||||||
expenditures billable to clients | -8,209,000 | -8,906,000 | -435,000 | 4,839,000 | -2,178,000 | -9,234,000 | 9,304,000 | 1,446,000 | -5,810,000 | 1,718,000 | 7,487,000 | |||||
prepaid expenses and other assets | -1,234,000 | 2,921,000 | -1,280,000 | 1,052,000 | 4,725,000 | -4,132,000 | 631,000 | 1,176,000 | -2,633,000 | -1,463,000 | -18,000 | |||||
accrued media payments | 38,629,000 | -15,548,000 | -9,048,000 | 9,550,000 | 16,874,000 | -14,935,000 | -19,657,000 | -5,629,000 | 26,124,000 | -14,758,000 | 8,770,000 | |||||
client advances | 1,808,000 | 5,046,000 | 12,843,000 | 585,000 | 697,000 | 13,366,000 | -15,630,000 | 5,346,000 | 1,719,000 | 4,009,000 | -2,593,000 | |||||
proceeds from sale of energy group | ||||||||||||||||
payment of debt principal | -1,937,000 | |||||||||||||||
payment of purchase consideration | ||||||||||||||||
net decrease in cash and cash equivalents and restricted cash | -103,000 | 7,367,000 | 9,400,000 | -77,030,000 | -44,713,000 | |||||||||||
cash and cash equivalents and restricted cash, beginning of period | 0 | 0 | 80,306,000 | 0 | 0 | 0 | 185,282,000 | 0 | 0 | 0 | 255,577,000 | |||||
cash and cash equivalents and restricted cash, end of period | -103,000 | -44,705,000 | 91,662,000 | 7,367,000 | 9,400,000 | -77,030,000 | 140,569,000 | -11,646,000 | -24,391,000 | -17,090,000 | 238,409,000 | |||||
less: cash and cash equivalents and restricted cash included in discontinued operations | ||||||||||||||||
cash and cash equivalents and restricted cash included in continuing operations | ||||||||||||||||
fair value of shares issued for acquisition of businesses and earn-out consideration | ||||||||||||||||
stock-based compensation capitalized for software development | 87,000 | 94,000 | 118,000 | 124,000 | 75,000 | 80,000 | 134,000 | |||||||||
shares received for sale of energy group | ||||||||||||||||
proceeds from divestiture | 0 | |||||||||||||||
amortization of debt issuance costs | 1,323,000 | 433,000 | 217,000 | 217,000 | 215,000 | 289,000 | 303,000 | 300,000 | 299,000 | |||||||
net increase in cash and cash equivalents and restricted cash | 11,356,000 | -17,090,000 | -17,168,000 | |||||||||||||
imputed non-cash interest expense | -331,000 | -43,000 | -43,000 | -22,000 | ||||||||||||
minority investment | 0 | -750,000 | 0 | -2,000,000 | ||||||||||||
issuance of senior secured term loan | ||||||||||||||||
payment of debt repurchase costs | ||||||||||||||||
unwinding of capped calls related to debt repurchase | ||||||||||||||||
payment of earnout | ||||||||||||||||
taxes paid | ||||||||||||||||
warrants issued in connection with the 2023 term loan | ||||||||||||||||
fair value of shares issued for acquisition of businesses and contingent consideration | ||||||||||||||||
fair value of shares received for consideration of energy group sale | ||||||||||||||||
payment of contingent considerations | 0 | -7,772,000 | 0 | 0 | 0 | -14,376,000 | ||||||||||
shares issued for acquisition of businesses and earn-out consideration | 0 | 756,000 | 0 | 0 | 0 | 8,369,000 | ||||||||||
loss on disposal of fixed assets | ||||||||||||||||
provision for doubtful accounts | 662,000 | -585,000 | 278,000 | 194,000 | ||||||||||||
loss on sublease | ||||||||||||||||
proceeds from issuance of convertible senior notes | ||||||||||||||||
purchases of capped calls related to convertible senior notes | ||||||||||||||||
proceeds from the exercise of warrants | ||||||||||||||||
non-cash activities: | ||||||||||||||||
warrant expense | ||||||||||||||||
change in fair value of warrant liability | ||||||||||||||||
common stock returned from acquisition escrow | ||||||||||||||||
other | ||||||||||||||||
proceeds from the sale of equipment | ||||||||||||||||
proceeds from common stock offerings | ||||||||||||||||
proceeds from loan | ||||||||||||||||
repayment of loan |