Veritone : Investor Presentation May 2024

Investor Presentation

May 2024

Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.

Forward-Looking Statements & Disclaimers

This presentation of Veritone, Inc. (the "Company") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. Without limiting the generality of the foregoing, words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "continue," "can," "may," "plans," "potential," "projects," "seeks," "should," "will," "would," or similar expressions and the negatives of those expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. The forward-looking statements contained in this presentation reflect our current views with respect to future events.

Forward-looking statements represent our management's beliefs and assumptions only as of the date of this presentation. We have included important factors in the cautionary statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, our Quarterly Report on Form 10-K for the quarter ended March 31, 2024, and other periodic reports that we have filed and may in the future file with the Securities and Exchange Commission (the "SEC"), particularly in the Risk Factors sections, that we believe could cause actual results or events to differ materially from the forward-looking statements that we make. Those factors include, but are not limited to: our ability to expand our aiWARE SaaS business; declines or limited growth in the market for AI-based software applications and concerns over the use of AI that may hinder the adoption of AI technologies; our requirements for additional capital and liquidity to support our operations, our business growth, service our debt obligations and refinance maturing debt obligations, and the availability of such capital on acceptable terms, if at all; our reliance upon a limited number of key customers for a significant portion of our revenue; declines in customers' usage of our products and other offerings; our ability to realize the intended benefits of our acquisitions, divestitures, and other planned or ongoing cost-saving measures, including our ability to successfully integrate our recent acquisition of Broadbean; our identification of existing material weaknesses in our internal control over financial reporting; fluctuations in our results over time; the impact of seasonality on our business; our ability to manage our growth, including through acquisitions and expansion into international markets; our ability to enhance our existing products and introduce new products that achieve market acceptance and keep pace with technological developments; actions by our competitors, partners and others that may block us from using third party technologies in our aiWARE platform, offering it for free to the public or making it cost prohibitive to continue to incorporate such technologies into our platform; interruptions, performance problems or security issues with our technology and infrastructure, or that of our third party service providers; the impact of the continuing economic disruption caused by macroeconomic and geopolitical factors, including the COVID-19 pandemic, the Russia-Ukraine conflict, the war in Israel, financial instability, inflation rates and the responses by central banking authorities to control inflation, monetary supply shifts and the threat of recession in the United States and around the world; increasing interest rates, inflationary pressures and the threat of a recession in the United States and around the world, on our business operations and those of our existing and potential customers. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

Before you invest, you should read our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, Quarterly Reports on Form 10-Q and the other documents we have filed and may in the future file with the SEC for more complete information about the Company. You may obtain these documents for free on our website or by visiting EDGAR on the SEC website at www.sec.gov.

In addition to our financial results presented in accordance with generally accepted accounting principles in the United States ("GAAP"), this presentation also includes certain non-GAAP financial measures. Tables detailing the items excluded from these non-GAAP financial measures and reconciling such non-GAAP financial measures with the most directly comparable GAAP financial measures are included in the Appendix.

We have provided these non-GAAP financial measures because management believes such information to be important supplemental measures of performance that are commonly used by securities analysts, investors and other interested parties in the evaluation of companies in its industry. Management also uses this information internally for forecasting and budgeting.

These non-GAAP financial measures should not be considered as an alternative to net income (loss), operating income (loss) or any other financial measures so calculated and presented, nor as an alternative to cash flow from operating activities as a measure of liquidity. Other companies (including our competitors) may define these non-GAAP measures differently. These non-GAAP measures may not be indicative of our historical operating results or predictive of potential future results. Investors should not consider these non-GAAP financial measures in isolation or as a substitute for analysis of our results reported in accordance with GAAP.

This presentation also contains information using industry publications that generally state that the information contained therein has been obtained from sources believed to be reliable, but such information may not be accurate or complete. While we are not aware of any misstatements regarding the information from these industry publications, we have not independently verified any of the data from third-party sources nor have we ascertained the underlying economic assumptions relied on therein.

Copyright © 2024 Veritone, Inc. All rights reserved.

2

The enterprise AI company that makes humans even better.

Veritone is a leading enterprise AI software, applications and services provider with one mission - to advance the capabilities of AI to empower people to do more than they ever thought possible.

Founded in	NASDAQ:	Employees:	Customers:
2014	VERI	650+*	3,384*

Copyright © 2024 Veritone, Inc. All rights reserved.

*Employee and customer counts as of March 31, 2024.

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Earnings

Results

Snapshot

Key indicators in 1Q24(1)

Financials

$32M

1Q24

Total Revenue

KPIs

3,384

1Q24 Total Software

Products & Service

Customers(3))

$15M	$9M
1Q24	Cash & Cash
Software Revenue	Equivalents as of
	3/31/2024(2))

$72M	>90%
1Q24 Annual	1Q24 Gross Revenue
Recurring Revenue	Retention(3))

Copyright © 2024 Veritone, Inc. All rights reserved.

(1)

For definitions and more information, see the Supplemental Financial Information and applicable reconciliations slides in the Appendix.

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1. Including approximately $73.3 million of cash received from Managed Services clients for future payments to vendors.
2. As of March 31, 2024.

Recent Business Highlights

Veritone Launches Ask Veri to Empower Customers to Talk to Their Data for

NOV Actionable Insights and Workflow

28 Activation

Veritone launched Ask Veri, a new conversational intelligence solution that empowers Veritone Digital Media Hub ("DMH") users to quickly extract actionable insights and execute dynamic workflows from their media archive data through a generative AI-enabled,chat-based tool.

	Veritone Clinches 2024 NAB Product of the
APR
Year Award for a Fifth Time with Generative
4	AI Solution
	For the fifth time, Veritone won NAB Product of the Year for the
	company's recently launched Ask Veri. This is the fourth time Veritone
	received top billing in the AI/ML category. Last year, Veritone's
	Generative AI platform won the category, while Veritone Avatar
	secured the award in 2022, and Veritone Voice in 2021. Veritone
	Attribute was recognized as best new radio technology in 2019.

	Veritone and OPEXUS Team Up to Provide AI
APR
Solutions to National Canadian Bank
30
	Announced that a major national bank in Canada is leveraging the
	OPEXUS ATIPXpress® AI Assist Module, which now includes Veritone's
	award-winning Redact solution.

DEC

14

Veritone and Grabyo Partner to Create AI-	MAY
Powered Live Clipping, Asset Management	7
and Monetization Solution

Announced a partnership with Grabyo, a leading cloud video platform for live broadcasting, live clipping and distribution, to streamline live digital content production and leverage AI-driven content management and monetization tools to meet the evolving needs of sports organizations in today's fast-paced digital landscape.

Veritone Launches AI Consulting and Services Group, Immediately Ascends to AWS Advanced Tier Services Partner Status

Veritone announced the launch of its AI consulting and services group to bridge the marketplace gap for seamless implementations of AI. Veritone's advisory proficiency has played a crucial role in the company's advancement to the Amazon Web Services ("AWS") Advanced Tier Services Partner level within the AWS Partner Network. The elevation in status acknowledges Veritone's AI consulting and service group, which plays a pivotal role in the advancement of AI, empowering customers to effectively use and derive the most benefit from the technology.

Copyright © 2024 Veritone, Inc. All rights reserved.

5

Veritone's

Growth

Drivers

Copyright © 2024 Veritone, Inc. All rights reserved.

DOUBLE DOWN ON CORE

VERTICALS

• Deepen exposure to industries we serve
• Leverage track record of AI partner model success to increase market share
• Grow our diverse customer and revenue base

UNLOCK THE POTENTIAL OF EXISTING CUSTOMERS

1. • Showcase expanding market applications of solutions across core verticals to existing customers
   • Upsell additional volume to current customers
   • Cross-sellexpanding use cases
   • Convert trial customers, particularly in government and regulated industries, to long-term customers
2. International Data Corporation (IDC)

CAPITALIZE ON DATA & INTEGRATION CAPABILITIES

• Deliver product ecosystem designed to drive operational efficiencies, accelerate decision making and increase profitability
• Market ability to integrate and orchestrate disparate data and workflows

HARNESS EXPANDING

MARKET OPPORTUNITY

• Expand our offerings to meet the demands of increasing spend and use cases of AI within enterprises
• Global AI market expected to grow at 19% CAGR and reach ~$900B by 2026(1)

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Empowering a rapidly growing partner & customer ecosystem.

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Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.

Investment Highlights

Large & Growing

Enterprise AI Market

Critical Enterprise Solutions with Growing, and Attractive, Blue Chip Customer Base

A Leading Operating System and

applications for Artificial Intelligence (AI)

Driving Enterprise AI Transformation

Founder-Led Entrepreneurial Management Team with Extensive Experience in Building

"Data-Centric" Businesses

Focused Growth and Pathway Towards

Profitability Through Strategic and

Organic Opportunities

Attractive Financial Model and

High Gross Margins

Copyright © 2024 Veritone, Inc. All rights reserved.

8

aiWARE platform

One platform. Endless possibilities.

Our aiWARE platform is the foundation upon which Veritone delivers human-centered AI solutions that enable customers to acquire, analyze, and act on hard-to-reach data, transforming it into actionable intelligence and do more than what was previously humanly possible

Build	Accelerate	Leverage
AI-powered	AI enterprise	a vast ecosystem
solutions and	implementation	of proprietary and
applications	and adoption,	third-party AI
faster and cost-	increasing	models with
effectively	operational	minimal
	efficiency	integration costs

KERNEL

Application Layer

INDUSTRY APPLICATIONS

		Integration Layer
	AUTOMATE STUDIO			APIs

Data search & indexing layer

INTELLIGENT DATA LAKE

Processing layer

CONTROLLER

VERITONE & 3rd PARTY COGNITIVE ENGINES

Data ingestion layer

ADAPTERS

Copyright © 2024 Veritone, Inc. All rights reserved.

9

1. decade of leading

• Acquires Machine Box; company exceeds 300 full-time employees
• aiWARE applications include IDentify, Redact and Attribute
• Acquires Performance Bridge Media
• Acquires Wazee Digital
• First $1M quarter for aiWARE
• Anaheim PD becomes first government agency to use aiWARE; launch first GovCloud (AWS) environment for U.S. government agency use

• Launches AI

Consulting &

Services Group

• Launches GenAI; Veritone acquires Broadbean and forms Veritone Hire

the way	• Initial Public Offering on
	NASDAQ
•	Veritone aiWARETM
		established
	•	Acquires Atigeo

	ROI Media
	becomes	•	aiWARE launched on
	Veritone
	Media		Microsoft Azure
			GovCloud
		•	aiWARE receives
Series B financing			FedRAMP authorization
complete,
acquires ROI
Media	•	Veritone CMS;

• Veritone Collection;
• Veritone Admin; and
• Veritone Discovery launch

• Veritone acquires

PandoLogic

• Launches SPORTX; multi-lingualsynthetic voice offering becomes available

• USPTO issues three patents to Veritone

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Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.