Veritone, Inc. 8-K Summary
Business Context and Reporting Period
Veritone, Inc., a Delaware corporation, filed this Current Report on Form 8-K on November 12, 2018. The filing announces financial results for the third quarter ended September 30, 2018, and provides an outlook for the fourth quarter of 2018. The company identifies itself as an emerging growth company.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The actual financial data is contained within the press release attached as Exhibit 99.1, which is referenced but not included in the text of this 8-K.
The company utilizes a non-GAAP financial measure titled "Adjusted EBITDAS" (Earnings Before Interest, Depreciation, Amortization, and Stock-based compensation), adjusted to exclude acquisition, integration, and financing-related costs. This measure is presented for the three and nine months ended September 30, 2018, and September 30, 2017.
Material Changes and Comparisons
The filing text does not disclose specific material changes in financial performance versus the prior comparable period. It only confirms that results for the three and nine months ended September 30, 2018, are being reported alongside 2017 figures in the attached exhibit.
Guidance, Outlook, and Management Commentary
Management has issued an outlook for net revenues and certain key performance indicators for the fourth quarter of 2018, details of which are in the attached press release. Management states that Adjusted EBITDAS is used internally for forecasting and budgeting and is considered an important supplemental measure by analysts. However, the company explicitly warns that this non-GAAP measure should not be considered an alternative to GAAP net income, operating income, or cash flow from operating activities, nor is it predictive of future results.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific Q3 2018 revenue, net loss, and cash flow figures.
- Examine the reconciliation table in the press release to understand the adjustments made to derive Adjusted EBITDAS from GAAP net loss.
- Verify the specific fourth-quarter 2018 revenue guidance and key performance indicators mentioned in the press release.
- Assess the magnitude of acquisition, integration, and financing-related costs excluded from the non-GAAP measure.