Veritone, Inc. Form 8-K Summary
Business Context and Reporting Period
Veritone, Inc., a Delaware corporation, filed this Current Report on Form 8-K on May 8, 2018. The filing announces the Company's financial results for the first quarter ended March 31, 2018, and provides an outlook for the second quarter of 2018. The Company is classified 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 detailed financial results are contained in the press release attached as Exhibit 99.1, which is not included in the provided text.
The Company utilizes a non-GAAP financial measure, Earnings Before Interest, Taxes, Depreciation, Amortization, and Stock-based Compensation (EBITDAS), to supplement its GAAP results. A reconciliation table between GAAP net loss and non-GAAP EBITDAS for the quarters ended March 31, 2018, and March 31, 2017, is referenced as being included in the attached press release.
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 quarter ended March 31, 2018, are being reported alongside a comparison to the quarter ended March 31, 2017, within the attached Exhibit 99.1.
Guidance, Outlook, and Management Commentary
Management has provided an outlook for certain key performance indicators for the second quarter of 2018, though specific targets are not listed in this filing text. Management states that EBITDAS is used internally for forecasting and budgeting and is considered an important supplemental measure by analysts and investors. The Company cautions that EBITDAS should not be considered an alternative to GAAP net income or operating cash flow and may not be indicative of future results.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated May 8, 2018) for specific Q1 2018 revenue, net loss, and cash flow figures.
- Examine the reconciliation table in the press release to understand the adjustments made to derive non-GAAP EBITDAS.
- Verify the specific Q2 2018 performance indicators and guidance targets mentioned in the press release.
- Compare Q1 2018 results against Q1 2017 figures to assess year-over-year growth or decline.