$VERI
Veritone, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021056915 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $22.66M $15.72M $13.27M
YoY Change 44.13% 22.75% 8.13%
Cost Of Revenue $5.808M $4.550M $4.330M
YoY Change 27.65% -4.35% -5.09%
Gross Profit $16.85M $11.17M $8.940M
YoY Change 50.82% 38.79% 15.98%
Gross Profit Margin 74.36% 71.07% 67.38%
Selling, General & Admin $20.94M $17.21M $16.28M
YoY Change 21.69% -4.28% -10.02%
% of Gross Profit 124.31% 154.07% 182.1%
Research & Development $5.254M $3.590M $3.440M
YoY Change 46.35% -34.37% -45.84%
% of Gross Profit 31.19% 32.14% 38.48%
Depreciation & Amortization $95.00K $264.0K $256.0K
YoY Change -64.02% -2.58% -2.66%
% of Gross Profit 0.56% 2.36% 2.86%
Operating Expenses $27.88M $22.14M $20.49M
YoY Change 25.93% -8.68% -16.18%
Operating Profit -$11.03M -$10.97M -$11.55M
YoY Change 0.57% -32.27% -30.99%
Interest Expense -$3.000K $0.00 -$200.0K
YoY Change -100.0% -266.67%
% of Operating Profit
Other Income/Expense, Net -$15.00K -$4.000K -$235.0K
YoY Change 275.0% -102.17% -560.78%
Pretax Income -$11.05M -$10.98M -$11.79M
YoY Change 0.62% -31.43% -29.34%
Income Tax $396.0K $40.00K $0.00
% Of Pretax Income
Net Earnings -$11.44M -$11.01M -$11.79M
YoY Change 3.91% -22.43% -29.35%
Net Earnings / Revenue -50.51% -70.07% -88.88%
Basic Earnings Per Share -$0.34
Diluted Earnings Per Share -$343.3K -$399.1K -$434.7K
COMMON SHARES
Basic Shares Outstanding 33.34M 27.61M 27.14M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $72.65M $54.30M $50.10M
YoY Change 33.78% 10.37% 10.6%
Cash & Equivalents $72.65M $54.32M $50.08M
Short-Term Investments
Other Short-Term Assets $10.68M $5.100M $5.300M
YoY Change 109.47% 6.25% 47.22%
Inventory
Prepaid Expenses
Receivables $57.90M $17.47M $24.54M
Other Receivables $25.24M $20.10M $3.200M
Total Short-Term Assets $166.5M $97.00M $83.10M
YoY Change 71.62% 8.99% 3.2%
LONG-TERM ASSETS
Property, Plant & Equipment $1.178M $2.499M $2.732M
YoY Change -52.86% -27.86% -25.36%
Goodwill $28.00M $6.904M $6.904M
YoY Change 305.55% -4.65% 27.38%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.648M $1.100M $1.100M
YoY Change 140.73% -8.33% 0.0%
Total Long-Term Assets $124.7M $22.60M $24.20M
YoY Change 451.9% -23.06% -16.66%
TOTAL ASSETS
Total Short-Term Assets $166.5M $97.00M $83.10M
Total Long-Term Assets $124.7M $22.60M $24.20M
Total Assets $291.2M $119.6M $107.3M
YoY Change 143.47% 1.04% -2.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.10M $21.27M $20.50M
YoY Change 55.64% -9.24% 11.05%
Accrued Expenses $112.3M $48.90M $41.00M
YoY Change 129.66% 171.67% 230.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $173.1M $83.90M $65.90M
YoY Change 106.32% 26.82% 22.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.42M $1.251M $1.300M
YoY Change 732.69% -11.71% -5.04%
Total Long-Term Liabilities $10.42M $1.251M $1.300M
YoY Change 732.69% -11.71% -5.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $173.1M $83.90M $65.90M
Total Long-Term Liabilities $10.42M $1.251M $1.300M
Total Liabilities $183.5M $85.16M $67.20M
YoY Change 115.52% 26.01% 22.04%
SHAREHOLDERS EQUITY
Retained Earnings -$335.1M -$268.0M -$257.0M
YoY Change 25.04% 23.15% 26.33%
Common Stock $28.00K
YoY Change 21.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $107.7M $34.43M $40.08M
YoY Change
Total Liabilities & Shareholders Equity $291.2M $119.6M $107.3M
YoY Change 143.51% 1.02% -2.06%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$11.44M -$11.01M -$11.79M
YoY Change 3.91% -22.43% -29.35%
Depreciation, Depletion And Amortization $95.00K $264.0K $256.0K
YoY Change -64.02% -2.58% -2.66%
Cash From Operating Activities -$2.537M $4.060M -$4.280M
YoY Change -162.49% -323.08% -64.27%
INVESTING ACTIVITIES
Capital Expenditures -$176.0K -$30.00K -$20.00K
YoY Change 486.67% -57.14% -96.61%
Acquisitions
YoY Change
Other Investing Activities -$47.60M $0.00 $60.00K
YoY Change -100.0% -98.86%
Cash From Investing Activities -$47.78M -$40.00K $40.00K
YoY Change 119345.0% -100.81% -99.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.333M 200.0K 5.160M
YoY Change 1066.5% -96.57% -33.07%
NET CHANGE
Cash From Operating Activities -2.537M 4.060M -4.280M
Cash From Investing Activities -47.78M -40.00K 40.00K
Cash From Financing Activities 2.333M 200.0K 5.160M
Net Change In Cash -47.98M 4.220M 920.0K
YoY Change -1237.01% -52.74% 130.0%
FREE CASH FLOW
Cash From Operating Activities -$2.537M $4.060M -$4.280M
Capital Expenditures -$176.0K -$30.00K -$20.00K
Free Cash Flow -$2.361M $4.090M -$4.260M
YoY Change -157.73% -333.71% -62.6%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P5Y9M18D
CY2021Q3 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
8533000
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
34857163
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
34857163
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1346000
CY2021Q3 us-gaap Costs And Expenses
CostsAndExpenses
33688000
CY2020Q3 us-gaap Costs And Expenses
CostsAndExpenses
26691000
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1683000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-11033000
CY2021Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-15000
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-11048000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-11444000
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.34
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33332668
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-11444000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-11013000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-11444000
CY2021Q3 veri Other Comprehensive Gain Loss Net Of Tax
OtherComprehensiveGainLossNetOfTax
-221000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
107666000
us-gaap Costs And Expenses
CostsAndExpenses
114373000
us-gaap Costs And Expenses
CostsAndExpenses
76231000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
396000
CY2020Q3 veri Other Comprehensive Income Loss Foreign Currency Transaction And Translation Gain Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationGainNetOfTax
6000
veri Other Comprehensive Income Loss Foreign Currency Transaction And Translation Gain Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationGainNetOfTax
7000
veri Other Comprehensive Income Loss Foreign Currency Transaction And Translation Gain Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationGainNetOfTax
11000
CY2021Q3 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
31500000
veri Other Comprehensive Gain Loss Net Of Tax
OtherComprehensiveGainLossNetOfTax
-214000
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
250000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
88210000
veri Stock Issued During Period Value Employee Stock Plans
StockIssuedDuringPeriodValueEmployeeStockPlans
7126000
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
31500000
us-gaap Net Income Loss
NetIncomeLoss
-54726000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
40080000
CY2020Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-10000
CY2020Q3 veri Stock Issued During Period Value Employee Stock Plans
StockIssuedDuringPeriodValueEmployeeStockPlans
216000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5148000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-11013000
CY2020Q3 veri Other Comprehensive Gain Loss Net Of Tax
OtherComprehensiveGainLossNetOfTax
6000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
34427000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
47411000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5996000
veri Stock Issued During Period Value Employee Stock Plans
StockIssuedDuringPeriodValueEmployeeStockPlans
356000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13735000
veri Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
2100000
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
308000
us-gaap Net Income Loss
NetIncomeLoss
-35490000
veri Other Comprehensive Gain Loss Net Of Tax
OtherComprehensiveGainLossNetOfTax
11000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
34427000
us-gaap Profit Loss
ProfitLoss
-54726000
us-gaap Profit Loss
ProfitLoss
-35490000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4189000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4816000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-1894000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-102000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
14000
veri Loss On Sublease
LossOnSublease
1211000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
200000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
-256000
us-gaap Share Based Compensation
ShareBasedCompensation
33491000
us-gaap Share Based Compensation
ShareBasedCompensation
13698000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
19907000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3535000
veri Increase Decrease Expenditures Billable To Clients
IncreaseDecreaseExpendituresBillableToClients
6871000
veri Increase Decrease Expenditures Billable To Clients
IncreaseDecreaseExpendituresBillableToClients
9822000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-5014000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
131000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4288000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4254000
veri Increase Decrease Accrued Media Payments
IncreaseDecreaseAccruedMediaPayments
19297000
veri Increase Decrease Accrued Media Payments
IncreaseDecreaseAccruedMediaPayments
14562000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1906000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
4687000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
7016000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
708000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-600000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-128000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3528000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1282000
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
56000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
448000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
61000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
47602000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-48050000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
7127000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
356000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
12746
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
115672000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
44920000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
72645000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2279000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2100000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6517000
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
6491000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
6491000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9406000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8973000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-42172000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
10250000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">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;">Gross profit, which was previously reflected in the statement of operations and comprehensive loss, is no longer presented. 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>
CY2020 veri Cash Flow From Operations
CashFlowFromOperations
1433000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-47876000
veri Cash Flow From Operations
CashFlowFromOperations
-3528000
us-gaap Net Income Loss
NetIncomeLoss
-54726000
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-335091000
CY2020 veri Proceeds From Issuance Of Common Stock During The Period
ProceedsFromIssuanceOfCommonStockDuringThePeriod
59771000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
7127000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2279000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-11444000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-11013000
us-gaap Net Income Loss
NetIncomeLoss
-54726000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-53445000
CY2020Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
26521000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
61809000
CY2020Q3 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-8311000
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-36880000
CY2020Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-7974000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-35273000
us-gaap Use Of Estimates
UseOfEstimates
<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-top:6pt;margin-bottom:0pt;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 the accounting recognition and presentation of revenue, allowance for doubtful accounts, purchase accounting, impairment of long-lived assets, the valuation of contingent consideration, the valuation of stock awards and stock warrants and income taxes, where applicable. </p> <p style="margin-top:12pt;margin-bottom:0pt;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-top:12pt;margin-bottom:0pt;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>
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
8346000
CY2021Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.52
CY2021Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2021Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
35488000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
92980000
CY2021Q3 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-8910000
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-52199000
CY2021Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-9237000
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27593315
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32752939
us-gaap Net Income Loss
NetIncomeLoss
-35490000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33342828
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27606061
us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
14813
us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
17179
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32767752
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27180059
CY2021Q3 us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
10160
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.40
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33332668
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
92904000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
23782000
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.34
CY2021Q3 us-gaap Goodwill
Goodwill
27999000
CY2020Q4 us-gaap Goodwill
Goodwill
6904000
CY2020Q4 us-gaap Goodwill
Goodwill
6904000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
21095000
CY2021Q3 us-gaap Goodwill
Goodwill
27999000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27162880
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.67
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.31
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10053533
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11615666
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10477358
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11476624
CY2021Q3 veri Cash And Cash Equivalents And Available For Sale Debt Securities Amortized Cost Basis
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCostBasis
72645000
CY2021Q3 veri Cash And Cash Equivalents And Available For Sale Debt Securities Fair Value
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesFairValue
72645000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
72645000
CY2020Q4 veri Cash And Cash Equivalents And Available For Sale Debt Securities Amortized Cost Basis
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCostBasis
114817000
CY2020Q4 veri Cash And Cash Equivalents And Available For Sale Debt Securities Fair Value
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesFairValue
114817000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
114817000
CY2021Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
109782000
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16878000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
13038000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10744000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1894000
CY2021Q3 us-gaap Depreciation
Depreciation
95000
us-gaap Depreciation
Depreciation
349000
CY2021Q3 veri Property And Equipment Gross
PropertyAndEquipmentGross
3730000
CY2020Q4 veri Property And Equipment Gross
PropertyAndEquipmentGross
2365000
CY2021Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
199000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
18534000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
17091000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
14571000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
13409000
CY2021Q3 veri Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
24628000
CY2020Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
2899000
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3929000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5264000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2751000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1178000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
4671000
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
92904000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
72645000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
114817000
CY2021Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
58763000
CY2020Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
16784000
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
860000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
118000
CY2021Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
57903000
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
16666000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2910000
CY2020Q3 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
-6000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2354000
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
3559000
us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
-41000
us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
8000
CY2020Q3 us-gaap Depreciation
Depreciation
264000
us-gaap Depreciation
Depreciation
776000
CY2021Q3 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
22738000
CY2020Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
14688000
CY2021Q3 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
10364000
CY2020Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
944000
CY2021Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
33102000
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
15632000
us-gaap Revenues
Revenues
60156000
us-gaap Revenues
Revenues
40890000
CY2021Q3 us-gaap Revenues
Revenues
22655000
us-gaap Revenues
Revenues
60156000
CY2020Q3 us-gaap Revenues
Revenues
15718000
us-gaap Revenues
Revenues
40890000
CY2021Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-3000
CY2020Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
2000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
84000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
200000
CY2021Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-15000
CY2020Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-37000
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
3686000
CY2021Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
428000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4672000
CY2020Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
748000
CY2021Q3 veri Liability Net Of Payments Remitted To States For Potential Exposure
LiabilityNetOfPaymentsRemittedToStatesForPotentialExposure
22000
veri Liability Net Of Payments Remitted To States For Potential Exposure
LiabilityNetOfPaymentsRemittedToStatesForPotentialExposure
306000
CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
5272000
CY2020Q3 us-gaap Share Based Compensation
ShareBasedCompensation
5111000
us-gaap Share Based Compensation
ShareBasedCompensation
33491000
us-gaap Share Based Compensation
ShareBasedCompensation
13698000
CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
5272000
CY2020Q3 us-gaap Share Based Compensation
ShareBasedCompensation
5111000
us-gaap Share Based Compensation
ShareBasedCompensation
33491000
us-gaap Share Based Compensation
ShareBasedCompensation
13698000

Files In Submission

Name View Source Status
0001564590-21-056915-index-headers.html Edgar Link pending
0001564590-21-056915-index.html Edgar Link pending
0001564590-21-056915.txt Edgar Link pending
0001564590-21-056915-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gkotlncdp5vn000001.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
veri-10q_20210930.htm Edgar Link pending
veri-10q_20210930_htm.xml Edgar Link completed
veri-20210930.xsd Edgar Link pending
veri-20210930_cal.xml Edgar Link unprocessable
veri-20210930_def.xml Edgar Link unprocessable
veri-20210930_lab.xml Edgar Link unprocessable
veri-20210930_pre.xml Edgar Link unprocessable
veri-ex101_303.htm Edgar Link pending
veri-ex311_8.htm Edgar Link pending
veri-ex312_7.htm Edgar Link pending
veri-ex321_6.htm Edgar Link pending