$VERI
Veritone, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021024339 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $18.30M $11.90M
YoY Change 53.69% -1.82%
Cost Of Revenue $4.820M $3.811M
YoY Change 26.48% -1.52%
Gross Profit $13.47M $8.093M
YoY Change 66.44% -1.9%
Gross Profit Margin 73.63% 67.99%
Selling, General & Admin $37.97M $16.47M
YoY Change 130.51% -7.58%
% of Gross Profit 281.89% 203.53%
Research & Development $4.960M $3.646M
YoY Change 36.04% -47.45%
% of Gross Profit 36.82% 45.05%
Depreciation & Amortization $1.253M $1.604M
YoY Change -21.88% 41.57%
% of Gross Profit 9.3% 19.82%
Operating Expenses $42.93M $20.91M
YoY Change 105.36% -15.57%
Operating Profit -$29.46M -$12.81M
YoY Change 129.94% -22.39%
Interest Expense $0.00 $80.00K
YoY Change -100.0% -50.0%
% of Operating Profit
Other Income/Expense, Net -$9.000K $131.0K
YoY Change -106.87% -37.91%
Pretax Income -$30.55M -$12.68M
YoY Change 140.87% -22.19%
Income Tax $22.00K $3.000K
% Of Pretax Income
Net Earnings -$30.57M -$12.68M
YoY Change 140.99% -22.21%
Net Earnings / Revenue -167.08% -106.55%
Basic Earnings Per Share
Diluted Earnings Per Share -$950.3K -$473.7K
COMMON SHARES
Basic Shares Outstanding 32.19M 26.79M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $127.5M $49.20M
YoY Change 159.15% -3.34%
Cash & Equivalents $237.6M $50.02M
Short-Term Investments
Other Short-Term Assets $5.200M $4.500M
YoY Change 15.56% 55.17%
Inventory
Prepaid Expenses
Receivables $24.10M $21.90M
Other Receivables $16.10M $4.800M
Total Short-Term Assets $172.9M $80.40M
YoY Change 115.05% -7.9%
LONG-TERM ASSETS
Property, Plant & Equipment $385.0K $3.000M
YoY Change -87.17% -21.34%
Goodwill $6.904M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.100M $1.200M
YoY Change -8.33% 2348.98%
Total Long-Term Assets $18.00M $25.80M
YoY Change -30.23% -14.57%
TOTAL ASSETS
Total Short-Term Assets $172.9M $80.40M
Total Long-Term Assets $18.00M $25.80M
Total Assets $190.9M $106.2M
YoY Change 79.76% -9.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.19M $16.20M
YoY Change 18.43% -21.74%
Accrued Expenses $75.50M $26.20M
YoY Change 188.17% 20.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $103.0M $62.60M
YoY Change 64.54% 6.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.100M $1.300M
YoY Change 61.54% 1.88%
Total Long-Term Liabilities $2.100M $1.300M
YoY Change 61.54% 1.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $103.0M $62.60M
Total Long-Term Liabilities $2.100M $1.300M
Total Liabilities $105.2M $63.90M
YoY Change 64.63% 6.49%
SHAREHOLDERS EQUITY
Retained Earnings -$310.9M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $85.79M $42.27M
YoY Change
Total Liabilities & Shareholders Equity $190.9M $106.2M
YoY Change 79.76% -9.62%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$30.57M -$12.68M
YoY Change 140.99% -22.21%
Depreciation, Depletion And Amortization $1.253M $1.604M
YoY Change -21.88% 41.57%
Cash From Operating Activities $6.209M $1.503M
YoY Change 313.11% -132.45%
INVESTING ACTIVITIES
Capital Expenditures $100.0K $9.000K
YoY Change 1011.11% -90.82%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$100.0K -$9.000K
YoY Change 1011.11% -100.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.505M
YoY Change -15.75%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.533M 3.606M
YoY Change 81.17% -19.58%
NET CHANGE
Cash From Operating Activities 6.209M 1.503M
Cash From Investing Activities -100.0K -9.000K
Cash From Financing Activities 6.533M 3.606M
Net Change In Cash 12.64M 5.100M
YoY Change 147.88% 129.01%
FREE CASH FLOW
Cash From Operating Activities $6.209M $1.503M
Capital Expenditures $100.0K $9.000K
Free Cash Flow $6.109M $1.494M
YoY Change 308.9% -131.59%

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;">Reclassifications</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.51%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Amortization expense, which was presented in prior year periods within cost of revenue, sales and marketing, research and development, and general and administrative operating expenses, has been reclassified and is presented as a single separate line item in operating expenses. Gross profit, which was previously reflected in the statement of operations and comprehensive loss, is no longer presented. Additionally, cost of revenue, which was presented in prior periods within gross profit, is now presented as an operating expense. The Company believes that this presentation more accurately reflects the Company’s cost of revenue and operating expenses. These reclassifications had no effect on reported net loss.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;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, purchase accounting, impairment of long-lived assets, the valuation of stock awards and stock warrants and income taxes, where applicable. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">There has been uncertainty and disruption in the global economy and financial markets due to the COVID-19 pandemic. 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. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p>
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Files In Submission

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0001564590-21-024339.txt Edgar Link pending
0001564590-21-024339-xbrl.zip Edgar Link pending
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