$VERI
Veritone, Inc.

2017 Q2 Form 10-Q Financial Statement

#000119312517251492 Filed on August 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $4.087M $2.011M
YoY Change 103.23% -37.93%
Cost Of Revenue $336.0K $299.0K
YoY Change 12.37% -44.63%
Gross Profit $3.751M $1.712M
YoY Change 119.1% -36.36%
Gross Profit Margin 91.78% 85.13%
Selling, General & Admin $8.716M $6.594M
YoY Change 32.18% 114.79%
% of Gross Profit 232.36% 385.16%
Research & Development $2.883M $1.646M
YoY Change 75.15% 56.76%
% of Gross Profit 76.86% 96.14%
Depreciation & Amortization $12.00K $30.00K
YoY Change -60.0% 200.0%
% of Gross Profit 0.32% 1.75%
Operating Expenses $11.60M $8.240M
YoY Change 40.76% 100.0%
Operating Profit -$7.848M -$6.528M
YoY Change 20.22% 356.5%
Interest Expense $2.120M
YoY Change
% of Operating Profit
Other Income/Expense, Net -$13.75M $4.000K
YoY Change -343750.0%
Pretax Income -$21.59M -$6.524M
YoY Change 230.99% 356.22%
Income Tax $1.000K $1.000K
% Of Pretax Income
Net Earnings -$21.60M -$6.525M
YoY Change 230.96% 356.29%
Net Earnings / Revenue -528.38% -324.47%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.544M -$403.1K
COMMON SHARES
Basic Shares Outstanding 8.666M shares 2.425M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.90M $3.600M
YoY Change 1730.56%
Cash & Equivalents $65.91M $3.585M
Short-Term Investments
Other Short-Term Assets $2.400M $1.100M
YoY Change 118.18%
Inventory
Prepaid Expenses
Receivables $12.24M $6.500M
Other Receivables $8.300M $4.000M
Total Short-Term Assets $88.83M $15.10M
YoY Change 488.28%
LONG-TERM ASSETS
Property, Plant & Equipment $46.00K $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $169.0K
YoY Change
Total Long-Term Assets $440.0K $2.000M
YoY Change -78.0%
TOTAL ASSETS
Total Short-Term Assets $88.83M $15.10M
Total Long-Term Assets $440.0K $2.000M
Total Assets $89.27M $17.10M
YoY Change 422.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.56M $16.40M
YoY Change 13.2%
Accrued Expenses $8.983M $2.600M
YoY Change 245.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $33.75M $23.70M
YoY Change 42.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $18.00K $0.00
YoY Change
Total Long-Term Liabilities $18.00K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $33.75M $23.70M
Total Long-Term Liabilities $18.00K $0.00
Total Liabilities $33.76M $23.80M
YoY Change 41.87%
SHAREHOLDERS EQUITY
Retained Earnings -$77.15M
YoY Change
Common Stock $15.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $55.51M -$6.700M
YoY Change
Total Liabilities & Shareholders Equity $89.27M $17.10M
YoY Change 422.05%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$21.60M -$6.525M
YoY Change 230.96% 356.29%
Depreciation, Depletion And Amortization $12.00K $30.00K
YoY Change -60.0% 200.0%
Cash From Operating Activities -$11.37M -$930.0K
YoY Change 1122.58% -154.07%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 68.49M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -11.37M -930.0K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 68.49M 0.000
Net Change In Cash 57.12M -930.0K
YoY Change -6241.94% -420.69%
FREE CASH FLOW
Cash From Operating Activities -$11.37M -$930.0K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$11.37M -$930.0K
YoY Change 1122.58% -153.76%

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CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4754000
CY2016Q2 us-gaap Gross Transaction Volume
GrossTransactionVolume
16962000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6524000
CY2016Q2 us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
140456 shares
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000
CY2016Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
1000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7319000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
8240000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-6525000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-6528000
CY2016Q2 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
3000
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4000
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1646000
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
2011000
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1481000
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1840000
CY2016Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
794000
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2284098 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2424554 shares
CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5078891 shares
CY2017Q2 us-gaap Cost Of Revenue
CostOfRevenue
336000
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.94
CY2017Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-3996000
CY2017Q2 us-gaap Gross Profit
GrossProfit
3751000
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5302000
CY2017Q2 us-gaap Gross Transaction Volume
GrossTransactionVolume
31243000
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-21594000
CY2017Q2 us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
174756 shares
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000
CY2017Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1880000
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-24992000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
11599000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-21595000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-7848000
CY2017Q2 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
60000
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-13746000
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2883000
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
4087000
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1778000
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3414000
CY2017Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
3397000
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8491391 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8666147 shares
CY2017Q2 veri Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.10 pure
CY2017Q2 veri Costs Of Warrants Issued
CostsOfWarrantsIssued
5790000
CY2017Q2 veri Write Off Of Deferred Debt Discounts And Issuance Costs
WriteOffOfDeferredDebtDiscountsAndIssuanceCosts
10132000

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