$VERI
Veritone, Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023019950 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $27.97M $30.26M $34.41M
YoY Change -18.31% -12.04% 88.07%
Cost Of Revenue $7.765M $6.809M $6.923M
YoY Change 15.81% -1.65% 43.63%
Gross Profit $20.20M $23.45M $27.48M
YoY Change -26.62% -14.66% 104.04%
Gross Profit Margin 72.24% 77.5% 79.88%
Selling, General & Admin $32.15M $30.09M $33.39M
YoY Change 116.06% -9.89% -12.06%
% of Gross Profit 159.14% 128.28% 121.49%
Research & Development $10.52M $11.35M $9.883M
YoY Change -4.96% 14.81% 99.25%
% of Gross Profit 52.07% 48.38% 35.96%
Depreciation & Amortization $675.0K $5.907M $4.891M
YoY Change 175.51% 20.77% 290.34%
% of Gross Profit 3.34% 25.19% 17.8%
Operating Expenses $42.67M $46.86M $48.29M
YoY Change 64.44% -2.95% 12.48%
Operating Profit -$28.18M -$23.41M -$20.81M
YoY Change 676.52% 12.52% -29.38%
Interest Expense -$720.0K -$805.0K -$1.182M
YoY Change -39.14% -31.9%
% of Operating Profit
Other Income/Expense, Net $3.510M $355.0K -$1.186M
YoY Change -385.13% -129.93% 13077.78%
Pretax Income -$24.67M -$23.05M -$21.99M
YoY Change 407.61% 4.83% -28.0%
Income Tax -$1.374M -$271.0K $177.0K
% Of Pretax Income
Net Earnings -$23.30M -$22.78M -$28.44M
YoY Change 616.14% -19.89% -6.96%
Net Earnings / Revenue -83.3% -75.28% -82.66%
Basic Earnings Per Share -$0.63 -$0.63 -$0.62
Diluted Earnings Per Share -$0.63 -$0.62 -$623.8K
COMMON SHARES
Basic Shares Outstanding 36.82M 36.56M 35.48M
Diluted Shares Outstanding 36.85M 36.59M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.67M $139.7M $237.6M
YoY Change -71.57% -41.19% 86.32%
Cash & Equivalents $62.67M $139.7M $237.6M
Short-Term Investments
Other Short-Term Assets $19.86M $13.59M $12.52M
YoY Change 38.26% 8.52% 140.75%
Inventory
Prepaid Expenses
Receivables $47.62M $54.07M $66.98M
Other Receivables $22.27M $13.03M $19.69M
Total Short-Term Assets $152.4M $220.4M $336.7M
YoY Change -49.69% -34.55% 94.76%
LONG-TERM ASSETS
Property, Plant & Equipment $11.40M $6.394M $2.137M
YoY Change 235.21% 199.2% 455.06%
Goodwill $78.36M $46.46M $36.63M
YoY Change 71.13% 26.84% 430.56%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.02M $14.76M $2.937M
YoY Change 66.79% 402.66% 167.0%
Total Long-Term Assets $203.5M $142.2M $145.5M
YoY Change 36.56% -2.31% 708.54%
TOTAL ASSETS
Total Short-Term Assets $152.4M $220.4M $336.7M
Total Long-Term Assets $203.5M $142.2M $145.5M
Total Assets $355.9M $362.6M $482.3M
YoY Change -21.25% -24.82% 152.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.82M $38.02M $38.35M
YoY Change 2.01% -0.86% 99.86%
Accrued Expenses $103.6M $110.4M $119.3M
YoY Change -2.75% -7.52% 58.04%
Deferred Revenue $14.17M $3.412M
YoY Change 18.31%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $161.3M $152.0M $165.8M
YoY Change -5.32% -8.32% 60.94%
LONG-TERM LIABILITIES
Long-Term Debt $138.2M $138.0M $195.4M
YoY Change -29.38% -29.38%
Other Long-Term Liabilities $17.33M $11.72M $14.95M
YoY Change 12.94% -21.59% 611.81%
Total Long-Term Liabilities $17.33M $149.7M $14.95M
YoY Change 12.94% 901.49% 611.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $161.3M $152.0M $165.8M
Total Long-Term Liabilities $17.33M $149.7M $14.95M
Total Liabilities $316.9M $301.7M $414.0M
YoY Change -16.99% -27.14% 293.58%
SHAREHOLDERS EQUITY
Retained Earnings -$417.5M -$394.2M -$345.7M
YoY Change 12.51% 14.03% 11.19%
Common Stock $37.00K $37.00K
YoY Change 2.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $39.05M $60.90M $68.23M
YoY Change
Total Liabilities & Shareholders Equity $355.9M $362.6M $482.3M
YoY Change -21.25% -24.82% 152.63%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$23.30M -$22.78M -$28.44M
YoY Change 616.14% -19.89% -6.96%
Depreciation, Depletion And Amortization $675.0K $5.907M $4.891M
YoY Change 175.51% 20.77% 290.34%
Cash From Operating Activities -$24.75M -$33.79M $10.13M
YoY Change 71.63% -433.38% 63.21%
INVESTING ACTIVITIES
Capital Expenditures $1.250M $1.447M $735.0K
YoY Change -182.07% 96.87% 635.0%
Acquisitions $1.500M $1.319M
YoY Change 13.72%
Other Investing Activities -$50.88M -$1.500M -$3.319M
YoY Change 3835.11% -54.81%
Cash From Investing Activities -$52.13M -$2.947M -$4.054M
YoY Change 1751.24% -27.31% 3954.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -151.0K -7.981M -23.25M
YoY Change -204.14% -65.67% -455.85%
NET CHANGE
Cash From Operating Activities -24.75M -33.79M 10.13M
Cash From Investing Activities -52.13M -2.947M -4.054M
Cash From Financing Activities -151.0K -7.981M -23.25M
Net Change In Cash -77.03M -44.71M -17.17M
YoY Change 350.73% 160.44% -235.8%
FREE CASH FLOW
Cash From Operating Activities -$24.75M -$33.79M $10.13M
Capital Expenditures $1.250M $1.447M $735.0K
Free Cash Flow -$26.00M -$35.23M $9.399M
YoY Change 101.6% -474.85% 53.85%

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CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-234000
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1146000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1277000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-8384000
CY2023Q1 veri Increase Decrease Accrued Media Payments
IncreaseDecreaseAccruedMediaPayments
-19657000
CY2022Q1 veri Increase Decrease Accrued Media Payments
IncreaseDecreaseAccruedMediaPayments
8770000
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-15630000
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-2593000
CY2023Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
2211000
CY2022Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-6104000
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1779000
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-116000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33785000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10134000
CY2022Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
2000000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1447000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
735000
CY2023Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1500000
CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1319000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2947000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4054000
CY2023Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
7772000
CY2022Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
14376000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
852000
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9441000
CY2023Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
643000
CY2022Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
569000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7981000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23248000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-44713000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17168000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
185282000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
255577000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
140569000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
238409000
CY2023Q1 veri Noncash Or Part Noncash Shares Issued For Acquisition Of Businesses And Earnout Consideration
NoncashOrPartNoncashSharesIssuedForAcquisitionOfBusinessesAndEarnoutConsideration
756000
CY2022Q1 veri Noncash Or Part Noncash Shares Issued For Acquisition Of Businesses And Earnout Consideration
NoncashOrPartNoncashSharesIssuedForAcquisitionOfBusinessesAndEarnoutConsideration
8369000
CY2023Q1 veri Stock Based Compensation Capitalized For Software Development
StockBasedCompensationCapitalizedForSoftwareDevelopment
134000
CY2022Q1 veri Stock Based Compensation Capitalized For Software Development
StockBasedCompensationCapitalizedForSoftwareDevelopment
33000
CY2023Q1 veri Noncash Or Part Noncash Lease Liabilities Arising From Right Of Use Assets
NoncashOrPartNoncashLeaseLiabilitiesArisingFromRightOfUseAssets
499000
CY2022Q1 veri Noncash Or Part Noncash Lease Liabilities Arising From Right Of Use Assets
NoncashOrPartNoncashLeaseLiabilitiesArisingFromRightOfUseAssets
4501000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3737000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7234000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
25557000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
64672000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33785000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-22963000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-394234000
CY2023Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
643000
CY2023Q1 veri Tax Paid Related To Net Share Settlement Of Equity Awards
TaxPaidRelatedToNetShareSettlementOfEquityAwards
852000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
139707000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Accounting Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the accompanying condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. The principal estimates relate to the accounting recognition and presentation of revenue, allowance for credit losses, purchase accounting, impairment of long-lived assets, the valuation of contingent consideration, the valuation of non-cash consideration received in barter transactions and evaluation of realizability, and the valuation of stock awards and stock warrants and income taxes, where applicable.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">There has been uncertainty and disruption in the global economy and financial markets due to the COVID-19 pandemic, the war in Ukraine, the recent inflationary environment and rising interest rates. The Company is not aware of any specific event or circumstance that would require an update to its estimates or assumptions or a revision of the carrying value of its assets or liabilities as of the date of filing of this Quarterly Report on Form 10-Q.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">These estimates and assumptions may change as new events occur and additional information is obtained. As a result, actual results could differ materially from these estimates and assumptions.</span></p>
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5888000
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.49
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q1 veri Assets And Liabilities Held For Sale Policy Policytextblock
AssetsAndLiabilitiesHeldForSalePolicyPolicytextblock
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Assets and Liabilities Held for Sale</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company determined that its energy group met the held for sale criteria under GAAP as of March 31, 2023. The potential sale of the energy group would not qualify as discontinued operations as of that date because the disposal would not have a major effect on the Company’s operations and financial results. As of March 31, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, the Company classified $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">20</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> as assets held for sale within prepaid expenses and other current assets and $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">11</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> as liabilities held for sale within other accrued liabilities on its condensed consolidated balance sheet.</span></p>
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q1 veri Business Combination Deferred Cash Payment
BusinessCombinationDeferredCashPayment
1500000
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
141250000
CY2021Q4 us-gaap Payments Of Derivative Issuance Costs
PaymentsOfDerivativeIssuanceCosts
18600000
CY2023Q1 veri Derivatives Initial Cap Price
DerivativesInitialCapPrice
48.55
CY2021Q4 veri Sale Of Stock Premium Over Last Reported Sale Price Percentage
SaleOfStockPremiumOverLastReportedSalePricePercentage
0.75
CY2021Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
27.74
CY2023Q1 veri Derivative Strike Price
DerivativeStrikePrice
35.76
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-22963000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-22129000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36587946
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35478676
CY2022Q1 us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
1728
CY2023Q1 veri Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
36587946
CY2022Q1 veri Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
35476948
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.63
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.62
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15095406
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15997428
CY2023Q1 veri Cash And Cash Equivalents And Available For Sale Debt Securities Amortized Cost Basis
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCostBasis
139707000
CY2023Q1 veri Cash And Cash Equivalents And Available For Sale Debt Securities Fair Value
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesFairValue
139707000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
139707000
CY2022Q4 veri Cash And Cash Equivalents And Available For Sale Debt Securities Amortized Cost Basis
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCostBasis
184423000
CY2022Q4 veri Cash And Cash Equivalents And Available For Sale Debt Securities Fair Value
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesFairValue
184423000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
184423000
CY2023Q1 us-gaap Goodwill
Goodwill
46460000
CY2022Q4 us-gaap Goodwill
Goodwill
46498000
CY2022Q4 us-gaap Goodwill
Goodwill
46498000
CY2023Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-38000
CY2023Q1 us-gaap Goodwill
Goodwill
46460000
CY2023Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P3Y7M6D
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
122782000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
48227000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
74555000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
122782000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
43118000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
79664000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
15336000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
17957000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
15507000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
10574000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8907000
CY2023Q1 veri Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
6274000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
74555000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
139707000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
184423000
CY2023Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
54816000
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
56820000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
745000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
819000
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
54071000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
56001000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Allowance for Credit Losses Accounting</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company maintains an allowance for expected credit losses in order to record accounts receivable at their net realizable value. Inherent in the assessment of the allowance for credit losses are certain judgments and estimates relating to, among other things, the Company’s customers’ access to capital, customers’ willingness and ability to pay, general economic conditions and the ongoing relationship with customers. The Company calculates the expected credit losses on a pool basis for those receivables that have similar risk characteristics aligned with the types of accounts receivable listed in the accounts receivable table above. </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Allowances have been recorded for receivables believed to be uncollectible, including amounts for the resolution of potential credit and other collection issues. The allowance for expected credit losses is determined by analyzing the Company’s historical write-offs and the current aging of receivables. Adjustments to the allowance may be required in future periods depending on how issues considered such as the financial condition of customers and the general economic climate may change or if the financial condition of the Company’s customers were to deteriorate resulting in an impairment of their ability to make payments. The Company has not historically had material write-offs due to uncollectible accounts receivable.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q1 veri Property And Equipment Gross
PropertyAndEquipmentGross
10074000
CY2022Q4 veri Property And Equipment Gross
PropertyAndEquipmentGross
8532000
CY2023Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
254000
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
250000
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10328000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8782000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3934000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3491000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6394000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5291000
CY2023Q1 us-gaap Depreciation
Depreciation
478000
CY2022Q1 us-gaap Depreciation
Depreciation
198000
CY2023Q1 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
1160000
CY2023Q1 veri Property And Equipment Gross
PropertyAndEquipmentGross
10074000
CY2023Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
1934000
CY2023Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
282000
CY2022Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
41000
CY2023Q1 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
27903000
CY2022Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
17972000
CY2023Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
10112000
CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
18766000
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
38015000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
36738000
CY2023Q1 us-gaap Revenues
Revenues
30263000
CY2022Q1 us-gaap Revenues
Revenues
34407000
CY2023Q1 us-gaap Revenues
Revenues
30263000
CY2022Q1 us-gaap Revenues
Revenues
34407000
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-805000
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1182000
CY2022Q1 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
-4000
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
355000
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1186000
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1200000
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.012
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.006
CY2022Q3 veri Corporate Alternative Minimum Tax Percentage
CorporateAlternativeMinimumTaxPercentage
0.15
CY2022Q3 veri Excise Tax Rate On Net Share Repurchase
ExciseTaxRateOnNetShareRepurchase
0.01
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1302000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1510000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
635000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
652000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.081
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
277000
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
277000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3917000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4816000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3917000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4816000
CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
134000
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
33000
CY2023Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
0
CY2022Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
0

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