$VERI
Veritone, Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023040530 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $35.13M $27.97M
YoY Change -5.55% -18.31%
Cost Of Revenue $7.187M $7.765M
YoY Change 1.27% 15.81%
Gross Profit $27.95M $20.20M
YoY Change -7.15% -26.62%
Gross Profit Margin 79.54% 72.24%
Selling, General & Admin $33.97M $32.15M
YoY Change 106.88% 116.06%
% of Gross Profit 121.57% 159.14%
Research & Development $10.41M $10.52M
YoY Change -11.66% -4.96%
% of Gross Profit 37.25% 52.07%
Depreciation & Amortization $1.233M $675.0K
YoY Change 285.31% 175.51%
% of Gross Profit 4.41% 3.34%
Operating Expenses $44.38M $42.67M
YoY Change 57.36% 64.44%
Operating Profit -$23.06M -$28.18M
YoY Change 538.66% 676.52%
Interest Expense -$220.0K -$720.0K
YoY Change -83.14% -39.14%
% of Operating Profit
Other Income/Expense, Net -$2.456M $3.510M
YoY Change 96.64% -385.13%
Pretax Income -$25.52M -$24.67M
YoY Change 425.06% 407.61%
Income Tax -$977.0K -$1.374M
% Of Pretax Income
Net Earnings -$24.54M -$23.30M
YoY Change 402.27% 616.14%
Net Earnings / Revenue -69.85% -83.3%
Basic Earnings Per Share -$0.66 -$0.63
Diluted Earnings Per Share -$0.66 -$0.63
COMMON SHARES
Basic Shares Outstanding 37.00M 36.82M
Diluted Shares Outstanding 36.99M 36.85M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $72.10M $62.67M
YoY Change -63.23% -71.57%
Cash & Equivalents $72.07M $62.67M
Short-Term Investments
Other Short-Term Assets $7.288M $19.86M
YoY Change -57.04% 38.26%
Inventory
Prepaid Expenses $6.543M
Receivables $49.69M $47.62M
Other Receivables $24.40M $22.27M
Total Short-Term Assets $161.4M $152.4M
YoY Change -50.0% -49.69%
LONG-TERM ASSETS
Property, Plant & Equipment $11.60M $11.40M
YoY Change 150.11% 235.21%
Goodwill $78.39M $78.36M
YoY Change 68.7% 71.13%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.79M $16.02M
YoY Change 80.25% 66.79%
Total Long-Term Assets $198.0M $203.5M
YoY Change 34.7% 36.56%
TOTAL ASSETS
Total Short-Term Assets $161.4M $152.4M
Total Long-Term Assets $198.0M $203.5M
Total Assets $359.4M $355.9M
YoY Change -23.49% -21.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.51M $30.82M
YoY Change 28.87% 2.01%
Accrued Expenses $118.5M $103.6M
YoY Change -11.25% -2.75%
Deferred Revenue $14.87M $14.17M
YoY Change 8.55% 18.31%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $186.2M $161.3M
YoY Change 0.23% -5.32%
LONG-TERM LIABILITIES
Long-Term Debt $138.4M $138.2M
YoY Change -29.38% -29.38%
Other Long-Term Liabilities $15.74M $17.33M
YoY Change -5.61% 12.94%
Total Long-Term Liabilities $15.74M $17.33M
YoY Change -5.61% 12.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $186.2M $161.3M
Total Long-Term Liabilities $15.74M $17.33M
Total Liabilities $340.7M $316.9M
YoY Change -14.61% -16.99%
SHAREHOLDERS EQUITY
Retained Earnings -$442.1M -$417.5M
YoY Change 17.58% 12.51%
Common Stock $37.00K $37.00K
YoY Change 2.78% 2.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.70M $39.05M
YoY Change
Total Liabilities & Shareholders Equity $359.4M $355.9M
YoY Change -23.49% -21.25%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$24.54M -$23.30M
YoY Change 402.27% 616.14%
Depreciation, Depletion And Amortization $1.233M $675.0K
YoY Change 285.31% 175.51%
Cash From Operating Activities $10.42M -$24.75M
YoY Change -151.22% 71.63%
INVESTING ACTIVITIES
Capital Expenditures $1.350M $1.250M
YoY Change -188.87% -182.07%
Acquisitions
YoY Change
Other Investing Activities $2.690M -$50.88M
YoY Change -198.64% 3835.11%
Cash From Investing Activities $1.330M -$52.13M
YoY Change -131.32% 1751.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.360M -151.0K
YoY Change -1280.0% -204.14%
NET CHANGE
Cash From Operating Activities 10.42M -24.75M
Cash From Investing Activities 1.330M -52.13M
Cash From Financing Activities -2.360M -151.0K
Net Change In Cash 9.390M -77.03M
YoY Change -138.5% 350.73%
FREE CASH FLOW
Cash From Operating Activities $10.42M -$24.75M
Capital Expenditures $1.350M $1.250M
Free Cash Flow $9.070M -$26.00M
YoY Change -148.18% 101.6%

Facts In Submission

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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9562000
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
2572000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
8785000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
599000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
649000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
531000
veri Imputed Non Cash Interest Income Expense
ImputedNonCashInterestIncomeExpense
65000
veri Imputed Non Cash Interest Income Expense
ImputedNonCashInterestIncomeExpense
-65000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-16308000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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veri Increase Decrease Expenditures Billable To Clients
IncreaseDecreaseExpendituresBillableToClients
-70000
veri Increase Decrease Expenditures Billable To Clients
IncreaseDecreaseExpendituresBillableToClients
-9205000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3501000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1546000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1613000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
4950000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-7286000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-16522000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
8000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-295000
veri Increase Decrease Accrued Media Payments
IncreaseDecreaseAccruedMediaPayments
-34592000
veri Increase Decrease Accrued Media Payments
IncreaseDecreaseAccruedMediaPayments
-5988000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-2264000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1711000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
6652000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-4278000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-2218000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-2959000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-58533000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4285000
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
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us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
504000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2697000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2258000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
50195000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2612000
veri Payment Of Settlement Of Deferred Consideration For Acquisitions
PaymentOfSettlementOfDeferredConsiderationForAcquisitions
2690000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-55078000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6870000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
7772000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
14376000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1003000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9509000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
643000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
782000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8132000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23103000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-121743000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-34258000
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
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
63539000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
221319000
veri Noncash Or Part Noncash Shares Issued For Acquisition Of Businesses And Earnout Consideration
NoncashOrPartNoncashSharesIssuedForAcquisitionOfBusinessesAndEarnoutConsideration
756000
veri Noncash Or Part Noncash Shares Issued For Acquisition Of Businesses And Earnout Consideration
NoncashOrPartNoncashSharesIssuedForAcquisitionOfBusinessesAndEarnoutConsideration
8369000
veri Stock Based Compensation Capitalized For Software Development
StockBasedCompensationCapitalizedForSoftwareDevelopment
214000
veri Stock Based Compensation Capitalized For Software Development
StockBasedCompensationCapitalizedForSoftwareDevelopment
88000
veri Noncash Or Part Noncash Lease Liabilities Arising From Right Of Use Assets
NoncashOrPartNoncashLeaseLiabilitiesArisingFromRightOfUseAssets
1436000
veri Noncash Or Part Noncash Lease Liabilities Arising From Right Of Use Assets
NoncashOrPartNoncashLeaseLiabilitiesArisingFromRightOfUseAssets
4501000
veri Non Cash Or Part Non Cash Shares Received For Sale Of Energy Group
NonCashOrPartNonCashSharesReceivedForSaleOfEnergyGroup
2021000
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
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CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
643000
veri Tax Paid Related To Net Share Settlement Of Equity Awards
TaxPaidRelatedToNetShareSettlementOfEquityAwards
1003000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-58533000
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-55078000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62674000
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.63
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.71
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.71
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>
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
30607000
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.31
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
34735000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
73293000
CY2023Q2 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-26801000
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-48824000
CY2023Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-22314000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-44102000
CY2022Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
42506000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
85065000
CY2022Q2 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
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us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-21281000
CY2022Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-1970000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-23018000
veri Business Combination Deferred Cash Payment
BusinessCombinationDeferredCashPayment
1500000
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
141250000
CY2021Q4 us-gaap Payments Of Derivative Issuance Costs
PaymentsOfDerivativeIssuanceCosts
18600000
CY2023Q2 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
CY2023Q2 veri Derivative Strike Price
DerivativeStrikePrice
35.76
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-23296000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-3253000
us-gaap Net Income Loss
NetIncomeLoss
-46259000
us-gaap Net Income Loss
NetIncomeLoss
-25382000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36848602
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36084113
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36718994
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35783067
CY2022Q2 us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
598
us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
301
CY2023Q2 veri Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
36848602
CY2022Q2 veri Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
36083515
veri Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
36718994
veri Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
35782766
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.63
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
23972000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
21522000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
16589000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
13527000
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15288687
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16238902
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15190469
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16115816
CY2023Q2 veri Cash And Cash Equivalents And Available For Sale Debt Securities Amortized Cost Basis
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCostBasis
62674000
CY2023Q2 veri Cash And Cash Equivalents And Available For Sale Debt Securities Fair Value
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesFairValue
62674000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62674000
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
CY2023Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023Q2 us-gaap Goodwill
Goodwill
78355000
CY2022Q4 us-gaap Goodwill
Goodwill
46498000
CY2022Q4 us-gaap Goodwill
Goodwill
46498000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-90000
CY2023Q2 us-gaap Goodwill
Goodwill
78355000
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P3Y7M6D
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
150282000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
53416000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
96866000
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
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
13406000
CY2023Q2 veri Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
7850000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
96866000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62674000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
184423000
CY2023Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
48416000
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
56820000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
798000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
819000
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
47618000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
56001000
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>
CY2023Q2 veri Property And Equipment Gross
PropertyAndEquipmentGross
15680000
CY2022Q4 veri Property And Equipment Gross
PropertyAndEquipmentGross
8532000
CY2023Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
266000
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
250000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15946000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8782000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4549000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3491000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11397000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5291000
CY2023Q2 us-gaap Depreciation
Depreciation
675000
us-gaap Depreciation
Depreciation
1153000
CY2022Q2 us-gaap Depreciation
Depreciation
245000
us-gaap Depreciation
Depreciation
444000
CY2023Q2 veri Property And Equipment Gross
PropertyAndEquipmentGross
15680000
CY2023Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
2410000
CY2023Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
342000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
624000
CY2022Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
42000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
83000
CY2023Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
15576000
CY2022Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
17972000
CY2023Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
15245000
CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
18766000
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
30821000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
36738000
CY2023Q2 us-gaap Revenues
Revenues
27967000
CY2022Q2 us-gaap Revenues
Revenues
34235000
us-gaap Revenues
Revenues
58230000
us-gaap Revenues
Revenues
68642000
CY2023Q2 us-gaap Revenues
Revenues
27967000
us-gaap Revenues
Revenues
58230000
CY2022Q2 us-gaap Revenues
Revenues
34235000
us-gaap Revenues
Revenues
68642000
CY2023Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-720000
CY2022Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1183000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1525000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-2365000
CY2023Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
2572000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
2572000
CY2023Q2 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
1658000
CY2022Q2 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
-48000
us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
2818000
us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
-52000
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3510000
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1231000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3865000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2417000
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1700000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
2800000
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.056
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.034
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.331
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.055
CY2023Q2 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Income Tax Expense
DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIncomeTaxExpense
347000
CY2022Q3 veri Corporate Alternative Minimum Tax Percentage
CorporateAlternativeMinimumTaxPercentage
0.15
CY2022Q3 veri Excise Tax Rate On Net Share Repurchase
ExciseTaxRateOnNetShareRepurchase
0.01
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1329000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1510000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
644000
us-gaap Operating Lease Payments
OperatingLeasePayments
1281000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
669000
us-gaap Operating Lease Payments
OperatingLeasePayments
1321000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.069
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
277000
us-gaap Sublease Income
SubleaseIncome
554000
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
277000
us-gaap Sublease Income
SubleaseIncome
554000
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2697000
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4661000
us-gaap Share Based Compensation
ShareBasedCompensation
6614000
us-gaap Share Based Compensation
ShareBasedCompensation
9477000
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2697000
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4661000
us-gaap Share Based Compensation
ShareBasedCompensation
6614000
us-gaap Share Based Compensation
ShareBasedCompensation
9477000
CY2023Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
80000
CY2022Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
54000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
214000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
85000
CY2023Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
0

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