$VERI
Veritone, Inc.

2019 Q1 Form 10-Q Financial Statement

#000156459019017984 Filed on May 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $12.13M $4.388M
YoY Change 176.32% 41.18%
Cost Of Revenue $3.870M $564.0K
YoY Change 586.17% 187.76%
Gross Profit $8.250M $3.824M
YoY Change 115.74% 31.32%
Gross Profit Margin 68.04% 87.15%
Selling, General & Admin $17.82M $12.53M
YoY Change 42.29% 99.49%
% of Gross Profit 216.04% 327.56%
Research & Development $6.938M $4.528M
YoY Change 53.22% 38.73%
% of Gross Profit 84.1% 118.41%
Depreciation & Amortization $1.133M $355.0K
YoY Change 219.15% 501.69%
% of Gross Profit 13.73% 9.28%
Operating Expenses $24.76M $17.05M
YoY Change 45.19% 78.71%
Operating Profit -$16.51M -$13.23M
YoY Change 24.78% 99.52%
Interest Expense $160.0K $180.0K
YoY Change -11.11% -92.36%
% of Operating Profit
Other Income/Expense, Net $211.0K $183.0K
YoY Change 15.3% -76.72%
Pretax Income -$16.30M -$13.05M
YoY Change 24.91% 123.22%
Income Tax $9.000K $2.000K
% Of Pretax Income
Net Earnings -$16.31M -$13.05M
YoY Change 24.96% 123.17%
Net Earnings / Revenue -134.48% -297.38%
Basic Earnings Per Share
Diluted Earnings Per Share -$836.0K -$812.1K
COMMON SHARES
Basic Shares Outstanding 19.58M 16.21M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.90M $54.50M
YoY Change -6.61% 519.32%
Cash & Equivalents $41.00M $21.03M
Short-Term Investments $11.10M $33.50M
Other Short-Term Assets $2.900M $2.300M
YoY Change 26.09% -28.13%
Inventory
Prepaid Expenses
Receivables $26.40M $9.686M
Other Receivables $7.000M $5.000M
Total Short-Term Assets $87.30M $71.57M
YoY Change 21.98% 191.94%
LONG-TERM ASSETS
Property, Plant & Equipment $3.814M $2.324M
YoY Change 64.11% 3977.19%
Goodwill $5.543M
YoY Change
Intangibles $2.918M
YoY Change
Long-Term Investments
YoY Change
Other Assets $49.00K $919.0K
YoY Change -94.67% -38.73%
Total Long-Term Assets $30.20M $6.161M
YoY Change 390.18% 236.67%
TOTAL ASSETS
Total Short-Term Assets $87.30M $71.57M
Total Long-Term Assets $30.20M $6.161M
Total Assets $117.5M $77.73M
YoY Change 51.17% 195.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.70M $11.59M
YoY Change 78.68% -32.22%
Accrued Expenses $21.80M $6.912M
YoY Change 215.39% -23.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $58.73M $26.58M
YoY Change 120.93% -48.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.276M
YoY Change
Total Long-Term Liabilities $1.276M $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.73M $26.58M
Total Long-Term Liabilities $1.276M $0.00
Total Liabilities $60.00M $26.60M
YoY Change 125.58% -48.21%
SHAREHOLDERS EQUITY
Retained Earnings -$186.7M -$122.5M
YoY Change 52.45% 134.83%
Common Stock $20.00K $16.00K
YoY Change 25.0% 300.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $57.50M $51.15M
YoY Change
Total Liabilities & Shareholders Equity $117.5M $77.73M
YoY Change 51.17% 195.05%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$16.31M -$13.05M
YoY Change 24.96% 123.17%
Depreciation, Depletion And Amortization $1.133M $355.0K
YoY Change 219.15% 501.69%
Cash From Operating Activities -$4.632M -$13.25M
YoY Change -65.04% 159.26%
INVESTING ACTIVITIES
Capital Expenditures $98.00K $1.693M
YoY Change -94.21% -5743.33%
Acquisitions
YoY Change
Other Investing Activities $2.470M $6.000M
YoY Change -58.83%
Cash From Investing Activities $2.375M $4.237M
YoY Change -43.95% -14223.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.160M -$64.00K
YoY Change -6600.0% -214.29%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.484M 492.0K
YoY Change 811.38% -73.41%
NET CHANGE
Cash From Operating Activities -4.632M -13.25M
Cash From Investing Activities 2.375M 4.237M
Cash From Financing Activities 4.484M 492.0K
Net Change In Cash 2.227M -8.519M
YoY Change -126.14% 158.94%
FREE CASH FLOW
Cash From Operating Activities -$4.632M -$13.25M
Capital Expenditures $98.00K $1.693M
Free Cash Flow -$4.730M -$14.94M
YoY Change -68.34% 194.11%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Accounting Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 revenue recognition, allowance for doubtful accounts, the valuation of stock awards and stock warrants, income taxes, and the allocation of net assets acquired from business acquisitions as well as contingent consideration, where applicable. Actual results could differ from those estimates.</p>
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FiniteLivedIntangibleAssetsAccumulatedAmortization
3396000
CY2019Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
841000
CY2018Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
306000
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
3926000
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
5223000
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4102000
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3897000
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2520000
CY2019Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
26469000
CY2018Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
29182000
CY2019Q1 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
19419000
CY2018Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
27655000
CY2019Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
1296000
CY2018Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
1059000
CY2019Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
169000
CY2018Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
181000
CY2019Q1 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
55000
CY2018Q1 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
2000
CY2019Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
745000
CY2018Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
331000
CY2019Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1297151
CY2018Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1297151

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