$VERI
Veritone, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024096973 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $21.99M $30.99M $27.97M
YoY Change -37.4% 10.82% -18.31%
Cost Of Revenue $6.325M $6.580M $7.765M
YoY Change -11.99% -15.26% 15.81%
Gross Profit $15.67M $24.41M $20.20M
YoY Change -43.93% 20.84% -26.62%
Gross Profit Margin 71.24% 78.77% 72.24%
Selling, General & Admin $24.61M $29.44M $32.15M
YoY Change -27.57% -8.43% 116.06%
% of Gross Profit 157.05% 120.59% 159.14%
Research & Development $7.528M $6.645M $10.52M
YoY Change -27.68% -36.83% -4.96%
% of Gross Profit 48.05% 27.22% 52.07%
Depreciation & Amortization $1.127M $968.0K $675.0K
YoY Change -8.6% 43.41% 175.51%
% of Gross Profit 7.19% 3.97% 3.34%
Operating Expenses $32.14M $36.08M $42.67M
YoY Change -27.6% -15.43% 64.44%
Operating Profit -$22.49M -$17.66M -$28.18M
YoY Change -2.47% -37.32% 676.52%
Interest Expense -$2.987M -$4.497M -$720.0K
YoY Change 1257.73% 524.58% -39.14%
% of Operating Profit
Other Income/Expense, Net -$2.594M -$4.612M $3.510M
YoY Change 5.62% -231.4% -385.13%
Pretax Income -$25.09M -$22.27M -$24.67M
YoY Change -1.69% -9.71% 407.61%
Income Tax -$2.575M -$43.00K -$1.374M
% Of Pretax Income
Net Earnings -$21.75M -$22.23M -$23.30M
YoY Change -11.39% -4.57% 616.14%
Net Earnings / Revenue -98.88% -71.73% -83.3%
Basic Earnings Per Share -$0.57 -$0.59 -$0.63
Diluted Earnings Per Share -$0.57 -$0.59 -$0.63
COMMON SHARES
Basic Shares Outstanding 38.08M 37.74M 36.82M
Diluted Shares Outstanding 38.09M 37.81M 36.85M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.42M $46.02M $62.67M
YoY Change -84.16% -26.57% -71.57%
Cash & Equivalents $11.42M $46.02M $62.67M
Short-Term Investments
Other Short-Term Assets $743.0K $859.0K $19.86M
YoY Change -89.81% -95.67% 38.26%
Inventory
Prepaid Expenses $5.092M $4.543M
Receivables $33.86M $53.93M $47.62M
Other Receivables $327.0K $29.51M $22.27M
Total Short-Term Assets $165.4M $141.9M $152.4M
YoY Change 2.5% -6.9% -49.69%
LONG-TERM ASSETS
Property, Plant & Equipment $9.864M $9.788M $11.40M
YoY Change -14.93% -14.12% 235.21%
Goodwill $53.11M $79.83M $78.36M
YoY Change -32.25% 1.88% 71.13%
Intangibles
YoY Change
Long-Term Investments $2.990M $2.990M
YoY Change
Other Assets $7.022M $17.90M $16.02M
YoY Change -60.52% 11.73% 66.79%
Total Long-Term Assets $171.0M $179.9M $203.5M
YoY Change -13.65% -11.6% 36.56%
TOTAL ASSETS
Total Short-Term Assets $165.4M $141.9M $152.4M
Total Long-Term Assets $171.0M $179.9M $203.5M
Total Assets $336.4M $321.8M $355.9M
YoY Change -6.4% -9.59% -21.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.356M $33.37M $30.82M
YoY Change -76.91% 8.26% 2.01%
Accrued Expenses $29.29M $92.82M $103.6M
YoY Change -75.28% -10.42% -2.75%
Deferred Revenue $17.00K $33.34M $14.17M
YoY Change -99.89% 135.29% 18.31%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $38.26M $7.750M
YoY Change
Total Short-Term Liabilities $249.3M $181.7M $161.3M
YoY Change 33.85% 12.59% -5.32%
LONG-TERM LIABILITIES
Long-Term Debt $102.9M $133.7M $138.2M
YoY Change -25.65% -3.23% -29.38%
Other Long-Term Liabilities $8.653M $11.50M $17.33M
YoY Change -45.04% -33.63% 12.94%
Total Long-Term Liabilities $8.653M $11.50M $17.33M
YoY Change -45.04% -33.63% 12.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $249.3M $181.7M $161.3M
Total Long-Term Liabilities $8.653M $11.50M $17.33M
Total Liabilities $361.6M $327.5M $316.9M
YoY Change 6.12% 3.35% -16.99%
SHAREHOLDERS EQUITY
Retained Earnings -$499.1M -$477.3M -$417.5M
YoY Change 12.89% 14.32% 12.51%
Common Stock $39.00K $39.00K $37.00K
YoY Change 5.41% 5.41% 2.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$25.16M -$5.694M $39.05M
YoY Change
Total Liabilities & Shareholders Equity $336.4M $321.8M $355.9M
YoY Change -6.4% -9.59% -21.25%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$21.75M -$22.23M -$23.30M
YoY Change -11.39% -4.57% 616.14%
Depreciation, Depletion And Amortization $1.127M $968.0K $675.0K
YoY Change -8.6% 43.41% 175.51%
Cash From Operating Activities $3.568M -$43.72M -$24.75M
YoY Change -65.76% 76.67% 71.63%
INVESTING ACTIVITIES
Capital Expenditures $1.735M $1.498M $1.250M
YoY Change 28.52% 19.84% -182.07%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.800M -$50.88M
YoY Change -100.0% -103.54% 3835.11%
Cash From Investing Activities -$1.735M $302.0K -$52.13M
YoY Change -230.45% -100.58% 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 -1.936M -1.285M -151.0K
YoY Change -17.97% 750.99% -204.14%
NET CHANGE
Cash From Operating Activities 3.568M -43.72M -24.75M
Cash From Investing Activities -1.735M 302.0K -52.13M
Cash From Financing Activities -1.936M -1.285M -151.0K
Net Change In Cash -103.0K -44.71M -77.03M
YoY Change -101.1% -41.96% 350.73%
FREE CASH FLOW
Cash From Operating Activities $3.568M -$43.72M -$24.75M
Capital Expenditures $1.735M $1.498M $1.250M
Free Cash Flow $1.833M -$45.22M -$26.00M
YoY Change -79.79% 73.94% 101.6%

Facts In Submission

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<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Accounting Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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 goodwill and long-lived assets, the valuation of senior secured debt, the valuation of non-cash consideration received in barter transactions and the evaluation of its realizability, the valuation of stock awards and stock warrants and income taxes, where applicable.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">There has been uncertainty and disruption in the global economy and financial markets due to a number of factors including the wars in Ukraine and Israel, the global inflationary environment and high interest rates. The war in Israel has also adversely impacted the Company’s business operations because the Company has an office and personnel based in Herzliya, Israel. 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:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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>
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CY2024Q2 veri Trade Credits Earned Through Barter Transactions Current
TradeCreditsEarnedThroughBarterTransactionsCurrent
7042000
CY2023Q4 veri Trade Credits Earned Through Barter Transactions Current
TradeCreditsEarnedThroughBarterTransactionsCurrent
6427000
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
859000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
687000
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
13010000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
14457000
CY2024Q2 veri Trade Credits Earned Through Barter Transactions Non Current
TradeCreditsEarnedThroughBarterTransactionsNonCurrent
10525000
CY2023Q4 veri Trade Credits Earned Through Barter Transactions Non Current
TradeCreditsEarnedThroughBarterTransactionsNonCurrent
10682000
CY2024Q2 us-gaap Investments And Other Noncurrent Assets
InvestmentsAndOtherNoncurrentAssets
2990000
CY2023Q4 us-gaap Investments And Other Noncurrent Assets
InvestmentsAndOtherNoncurrentAssets
4771000
CY2024Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
4381000
CY2023Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
4398000
CY2024Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
17896000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
19851000
CY2024Q2 veri Property And Equipment Gross
PropertyAndEquipmentGross
6956000
CY2023Q4 veri Property And Equipment Gross
PropertyAndEquipmentGross
6796000
CY2024Q2 veri Internal Use Software Development Costs
InternalUseSoftwareDevelopmentCosts
10507000
CY2023Q4 veri Internal Use Software Development Costs
InternalUseSoftwareDevelopmentCosts
8226000
CY2024Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1629000
CY2023Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1639000
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19092000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16661000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9304000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8005000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9788000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8656000
CY2024Q2 us-gaap Depreciation
Depreciation
968000
us-gaap Depreciation
Depreciation
2479000
CY2023Q2 us-gaap Depreciation
Depreciation
675000
us-gaap Depreciation
Depreciation
1153000
CY2024Q2 veri Property And Equipment Gross
PropertyAndEquipmentGross
6956000
CY2024Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
2195000
CY2024Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
802000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1497000
CY2023Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
342000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
624000
CY2024Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
33366000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
32756000
CY2024Q2 veri Accrued Compensation
AccruedCompensation
4041000
CY2023Q4 veri Accrued Compensation
AccruedCompensation
4615000
CY2024Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
5720000
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
5425000
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1716000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2348000
CY2024Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
11676000
CY2023Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
13749000
CY2024Q2 veri Other Miscellaneous Accrued Liabilities Current
OtherMiscellaneousAccruedLiabilitiesCurrent
363000
CY2023Q4 veri Other Miscellaneous Accrued Liabilities Current
OtherMiscellaneousAccruedLiabilitiesCurrent
958000
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
23516000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
27095000
veri Summary Of Deferred Revenue
SummaryOfDeferredRevenue
<span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Deferred revenue was comprised of the following:</span> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;"></td> <td style="width:1.62%;"></td> <td style="width:1%;"></td> <td style="width:12.883000000000001%;"></td> <td style="width:1%;"></td> <td style="width:1.62%;"></td> <td style="width:1%;"></td> <td style="width:12.883000000000001%;"></td> <td style="width:1%;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">Three Months Ended<br/>June 30,</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">Six Months Ended<br/>June 30,</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:8pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">2024</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">2024</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Deferred revenue beginning balance</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">13,415</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">12,813</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Less: revenue recognized</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">6,656</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">12,398</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Additions to deferred revenue</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">6,707</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">13,051</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Ending balance of deferred revenue</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">13,466</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">13,466</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> </table>
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
13415000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
12813000
CY2024Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6656000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
12398000
CY2024Q2 veri Contract With Customer Liability Additions To Deferred Revenue
ContractWithCustomerLiabilityAdditionsToDeferredRevenue
6707000
veri Contract With Customer Liability Additions To Deferred Revenue
ContractWithCustomerLiabilityAdditionsToDeferredRevenue
13051000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
13466000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
13466000
CY2024Q2 us-gaap Revenues
Revenues
30992000
CY2023Q2 us-gaap Revenues
Revenues
27967000
us-gaap Revenues
Revenues
62628000
us-gaap Revenues
Revenues
58230000
CY2024Q2 us-gaap Revenues
Revenues
30992000
CY2023Q2 us-gaap Revenues
Revenues
27967000
us-gaap Revenues
Revenues
62628000
us-gaap Revenues
Revenues
58230000
CY2024Q2 veri Percentage Of Consolidated Revenue1
PercentageOfConsolidatedRevenue1
0.334
veri Percentage Of Consolidated Revenue1
PercentageOfConsolidatedRevenue1
0.331
CY2024Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-4497000
CY2023Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-720000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-8487000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1525000
CY2024Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-172000
CY2023Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
2572000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-172000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
2572000
CY2024Q2 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
57000
CY2023Q2 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
1658000
us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
-356000
us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
2818000
CY2024Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4612000
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3510000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9015000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3865000
CY2024Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
49000
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1659000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-363000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
2820000
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.002
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.023
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
CY2024Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
7040000
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
9504000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
453000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
308000
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
771000
us-gaap Operating Lease Payments
OperatingLeasePayments
1453000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
644000
us-gaap Operating Lease Payments
OperatingLeasePayments
1281000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y2M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.082
CY2024Q2 us-gaap Sublease Income
SubleaseIncome
277000
us-gaap Sublease Income
SubleaseIncome
554000
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
277000
us-gaap Sublease Income
SubleaseIncome
554000
us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
298110
us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
0
CY2024Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2139000
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2697000
us-gaap Share Based Compensation
ShareBasedCompensation
3747000
us-gaap Share Based Compensation
ShareBasedCompensation
6614000
CY2024Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2139000
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2697000
us-gaap Share Based Compensation
ShareBasedCompensation
3747000
us-gaap Share Based Compensation
ShareBasedCompensation
6614000
CY2024Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
94000
CY2023Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
80000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
212000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
214000

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