Veritone (VERI) 10-Q 10 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 08, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Trading Symbol	VERI
Entity Registrant Name	Veritone, Inc.
Entity Central Index Key	0001615165
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-38093
Entity Tax Identification Number	47-1161641
Entity Address, Address Line One	1615 Platte Street
Entity Address, Address Line Two	2nd Floor
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	888
Local Phone Number	507-1737
Entity Common Stock, Shares Outstanding		37,738,677
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 90,733	$ 79,439
Accounts receivable, net	45,749	69,266
Expenditures billable to clients	20,043	19,608
Prepaid expenses and other current assets	15,844	14,457
Total current assets	172,369	182,770
Property, equipment and improvements, net	9,165	8,656
Intangible assets, net	77,443	83,423
Goodwill	79,828	80,247
Long-term restricted cash	929	867
Other assets	19,907	19,851
Total assets	359,641	375,814
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	36,588	32,756
Accrued media payments	84,848	93,896
Client advances	28,295	15,452
Deferred revenue	13,415	12,813
Senior Secured Term Loan, current portion	7,750	5,813
Contingent consideration, current	500	1,000
Other accrued liabilities	26,275	27,095
Total current liabilities	197,671	188,825
Convertible senior notes, non-current	89,717	89,572
Senior Secured Term Loan, non-current	44,407	45,012
Contingent consideration, non-current	450	633
Other non-current liabilities	12,531	13,625
Total liabilities	344,776	337,667
Commitments and contingencies (Note 9)
Stockholders' equity
Common stock, par value $0.001 per share; 75,000,000 shares authorized; 37,629,461 and 37,186,348 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	38	38
Additional paid-in capital	469,712	468,015
Accumulated deficit	(455,094)	(429,896)
Accumulated other comprehensive income (loss)	209	(10)
Total stockholders' equity	14,865	38,147
Total liabilities and stockholders' equity	$ 359,641	$ 375,814

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	37,629,461	37,186,348
Common stock, shares outstanding	37,629,461	37,186,348

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 31,636	$ 30,263
Operating expenses:
Cost of revenue	7,046	6,809
Sales and marketing	11,804	12,690
Research and development	9,215	11,527
General and administrative	19,420	17,397
Amortization	5,991	5,429
Total operating expenses	53,476	53,852
Loss from operations	(21,840)	(23,589)
Other income (expense), net	(4,403)	355
Loss before provision for income taxes	(26,243)	(23,234)
(Benefit from) provision for income taxes	(1,045)	(271)
Net loss	$ (25,198)	$ (22,963)
Net loss per share:
Net loss per share, basic	$ (0.67)	$ (0.63)
Net loss per share, diluted	$ (0.67)	$ (0.63)
Weighted average shares outstanding:
Weighted average shares outstanding, basic	37,353,228	36,587,946
Weighted average shares outstanding, diluted	37,353,228	36,587,946
Comprehensive loss:
Net loss	$ (25,198)	$ (22,963)
Foreign currency translation gain (loss), net of income taxes	219	(766)
Total comprehensive loss	$ (24,979)	$ (23,729)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance at Dec. 31, 2022	$ 79,851	$ 36	$ 451,162	$ (371,271)	$ (76)
Beginning balance, shares at Dec. 31, 2022		36,321,222
Common stock issued under employee stock plans	643	$ 1	642
Common stock issued under employee stock plans, shares		466,906
Common stock withheld for employee taxes	(852)		(852)
Common stock withheld for employee taxes, shares		(131,116)
Common stock issued as part of contingent consideration	756		756
Common stock issued as part of contingent consideration, shares		135,800
Stock-based compensation expense	4,051		4,051
Net loss	(22,963)			(22,963)
Other comprehensive gain (loss)	(766)				(766)
Ending balance at Mar. 31, 2023	60,720	$ 37	455,759	(394,234)	(842)
Ending balance, shares at Mar. 31, 2023		36,792,812
Beginning balance at Dec. 31, 2022	79,851	$ 36	451,162	(371,271)	(76)
Beginning balance, shares at Dec. 31, 2022		36,321,222
Net loss	(58,625)
Ending balance at Dec. 31, 2023	38,147	$ 38	468,015	(429,896)	(10)
Ending balance, shares at Dec. 31, 2023		37,186,348
Common stock issued under employee stock plans	218		218
Common stock issued under employee stock plans, shares		297,460
Common stock withheld for employee taxes and other	(247)		(247)
Common stock withheld for employee taxes and other, shares		(61,304)
Common stock issued in connection with warrant exercises, shares		206,957
Stock-based compensation expense	1,726		1,726
Net loss	(25,198)			(25,198)
Other comprehensive gain (loss)	219				219
Ending balance at Mar. 31, 2024	$ 14,865	$ 38	$ 469,712	$ (455,094)	$ 209
Ending balance, shares at Mar. 31, 2024		37,629,461

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (25,198)	$ (22,963)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	7,502	5,907
Provision for credit losses	234	(72)
Stock-based compensation expense	1,608	3,917
Change in fair value of contingent consideration		651
Change in deferred taxes	(1,336)	(311)
Amortization of debt issuance costs	1,323	215
Amortization of right-of-use assets	251	300
Imputed non-cash interest income	(107)	(22)
Changes in assets and liabilities:
Accounts receivable	23,283	2,002
Expenditures billable to clients	(435)	9,304
Prepaid expenses and other assets	(1,280)	631
Other assets	318	234
Accounts payable	3,832	1,277
Deferred revenue	602
Accrued media payments	(9,048)	(19,657)
Client advances	12,843	(15,630)
Other accrued liabilities	1,297	2,211
Other liabilities	242	(1,779)
Net cash provided by (used in) operating activities	15,931	(33,785)	$ (76,421)	$ 3,737
Cash flows from investing activities:
Capital expenditures	(1,901)	(1,447)
Acquisitions, net of cash acquired		(1,500)
Net cash used in investing activities	(1,901)	(2,947)
Cash flows from financing activities:
Payment of contingent consideration	(1,000)	(7,772)
Taxes paid related to net share settlement of equity awards		(852)
Proceeds from issuances of stock under employee stock plans, net	126	643
Settlement of deferred consideration for acquisitions	(1,800)
Net cash used in financing activities	(2,674)	(7,981)
Net increase (decrease) in cash and cash equivalents and restricted cash	11,356	(44,713)
Cash and cash equivalents and restricted cash, beginning of period	80,306	185,282	185,282
Cash and cash equivalents and restricted cash, end of period	$ 91,662	140,569	$ 80,306	$ 185,282
Non-cash investing and financing activities:
Fair value of shares issued for acquisition of businesses and earn-out consideration		756
Stock-based compensation capitalized for software development		134
Lease liabilities arising from right-of-use assets		$ 499

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Description of Business	NOTE 1. DESCRIPTION OF BUSINESS Veritone, Inc., a Delaware corporation (“Veritone,” and together with its subsidiaries, collectively, the “Company”), is a provider of artificial intelligence (“AI”) computing solutions. The Company’s proprietary AI operating system, aiWARE TM , uses machine learning algorithms, or AI models, together with a suite of powerful applications, to reveal valuable insights from vast amounts of structured and unstructured data. The aiWARE platform offers capabilities that mimic human cognitive functions such as perception, prediction and problem solving, enabling users to quickly, efficiently and cost effectively transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights. aiWARE is based on an open architecture that enables new AI models, applications and workflows to be added quickly and efficiently, resulting in a scalable and evolving solution that can be leveraged by organizations across a broad range of business sectors, serving commercial enterprises as well as government and regulated industries. In addition, the Company operates a full-service advertising agency that leverages the Company’s aiWARE technologies to provide differentiated Managed Services to its clients. The Company’s advertising services include media planning and strategy, advertisement buying and placement, campaign messaging, clearance verification and attribution, and custom analytics, specializing in host-endorsed and influencer advertising across primarily radio, podcasting, streaming audio, social media and other digital media channels. The Company’s advertising services also include its VeriAds Network, which is comprised of programs that enable broadcasters, podcasters and social media influencers to generate incremental advertising revenue. The Company also offers cloud-native digital content management solutions and licensing services, primarily to customers in the media and entertainment market. These offerings leverage the Company’s aiWARE technologies, providing customers with unique capabilities to enrich and drive expanded revenue opportunities from their content. On June 13, 2023, the Company acquired Broadbean (as defined in Note 3), a global leader of talent acquisition software-as-a-service technology. For further details on this acquisition, refer to Note 3.

Presentation and Summary of Sig

Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Presentation and Summary of Significant Accounting Policies	NOTE 2. PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements and the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements. Such unaudited condensed consolidated financial statements and accompanying notes are based on the representations of the Company’s management, who is responsible for their integrity and objectivity. The information included in this Form 10-Q should be read in conjunction with the information included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on April 1, 2024. Interim results for the three months ended March 31, 2024 are not necessarily indicative of the results the Company will have for the full year ending December 31, 2024. The accompanying condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which are normal, recurring and necessary to fairly state the Company’s financial position, results of operations and cash flows. All significant intercompany transactions have been eliminated in consolidation. The financial data and the other information disclosed in these notes to the condensed consolidated financial statements reflected in the three month periods presented are unaudited. The December 31, 2023 balance sheet included herein was derived from the audited financial statements but does not include all disclosures or notes required by GAAP for complete financial statements. Liquidity and Capital Resources These consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles assuming the Company will continue as a going concern. During the years ended December 31, 2023 and 2022, the Company used cash in operations of $ 76,421 and generated cash flows from operations of $ 3,737 , respectively, and incurred net losses of $ 58,625 and $ 25,557 , respectively. During the three months ended March 31, 2024 and 2023, the Company generated cash flows from operations of $ 15,931 and used cash in operations of $ 33,785 , respectively, and incurred net losses of $ 25,198 and $ 22,963 , respectively. As of March 31, 2024, the Company had an accumulated deficit of $ 455,094 . Historically, the Company has satisfied its capital needs with the net proceeds from sales of its equity securities, issuances of its convertible debt, borrowings under its term loan and the exercises of common stock options and warrants. During the three months ended March 31, 2024, the Company generated cash flows from operations of $ 15,931 , driven principally by the timing of payments from customers and from client advances, partially offset by the Company’s net loss of $ 25,198 . The Company used cash in investing activities of $ 1,901 , driven principally by capital expenditures, and used cash in financing activities of $ 2,674 , driven principally by the settlement of contingent and deferred consideration. As of March 31, 2024 , the Company had cash and cash equivalents of $ 91,662 , including long term restricted cash of $ 929 . Based on the Company's liquidity position as of March 31, 2024 and the Company's current forecast of operating results and cash flows, absent any other action, management determined that the Company will require additional liquidity to continue its operations for the foreseeable future, including over the next twelve months. In the near term and to meet its obligations as they come due, the Company expects to capture these and potential future cost synergies from the Company’s past acquisitions. The Company expects the cost synergies coupled with the additional cost reduction measures to enable the Company to continue operations for the foreseeable future, including over the next twelve months. Use of Accounting Estimates 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 credit losses, purchase accounting, impairment of long-lived assets, the valuation of contingent consideration, the valuation of senior secured debt, the valuation of non-cash consideration received in barter transactions and the evaluation of its realizability, the valuation of stock awards and stock warrants and income taxes, where applicable. There has been uncertainty and disruption in the global economy and financial markets due to a number of factors including the wars in Ukraine and Israel, the global inflationary environment and high interest rates. The war in Israel has also adversely impacted the Company’s business operations because the Company has an office and personnel based in Herzliya, Israel. 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. 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. Significant Customers During and as of the three months ended March 31, 2024 , no individual customer accounted for more than 10 % of the Company’s revenue and one individual customer accounted for 10 % or more of accounts receivable. During and as of the three months ended March 31, 2023, one individual customer accounted for 10 % or more of the Company’s revenue and two individual customers accounted for 10 % or more of the Company’s accounts receivable. No individual customer accounted for 10 % or more of the Company’s accounts receivable as of December 31, 2023 . Contract Balances Contract liabilities are recorded as deferred revenue when customer payments are received in advance of the Company meeting all the revenue recognition criteria. The Company recognized $5,742 of revenue during the three months ended March 31, 2024 that was included in the deferred revenue balance as of December 31, 2023. Remaining Performance Obligations As of March 31, 2024, the aggregate amount of the transaction prices under the Company’s contracts allocated to the Company’s remaining pe rformance obligations was $ 26,734 , approximately 48.0 % of which the C ompany expects to recognize as revenue over the next twelve months , and the remainder thereafter to be recognized over the next three years . This aggregate amount excludes amounts allocated to remaining performance obligations under contracts that have an original duration of one year or less and variable consideration that is allocated to remaining performance obligations. Excluded based on this policy are balances related to Veritone Hire solutions representing gross purchase orders to be satisfied in less than one year. Revenues will be recognized net of costs to fulfill these orders. Segment Information The Company operates as one reportable segment. The Company reports segment information based on the internal reporting used by the chief operating decision maker for making decisions and assessing performance as the source of the Company’s reportable segments. Seasonality The Company experiences seasonal fluctuations in its revenue and operating performance as a result of the utilization of its platform and associated revenues from its Software Products & Services. In particular, Veritone Hire solutions revenues and advertising have historically been higher in the second half of each fiscal year, consistent with the hiring and spending cycles of the Company’s larger customers. The Company also experiences seasonality as a result of factors such as the timing of large projects, the length and complexity of sales cycles, trends impacting the Company’s target vertical markets and the Company’s revenue recognition policies and any changes to those policies. Within a given quarter, a higher proportion of the Company’s agreements are signed toward the end of such quarter. Although these seasonal factors are common in the technology industry, historical patterns should not be considered a reliable indicator of our future sales activity or performance. Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies from those disclosed in its Annual Report on Form 10-K for the year ended December 31, 2023. Recently Adopted Accounting Pronouncements In September 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) which requires measurement and recognition of expected credit losses for financial assets held. This standard was effective for the Company beginning in the first quarter of fiscal year 2023. The Company adopted this guidance on January 1, 2023 and the impact of the adoption was not material to our condensed consolidated financial statements as credit losses are not expected to be significant based on historical collection trends, the financial condition of payment partners, and external market factors. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers , in order to align the recognition of a contract liability with the definition of a performance obligation. The Company adopted this guidance on January 1, 2023. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements.

Business Combinations and Dives

Business Combinations and Divestiture	3 Months Ended
	Mar. 31, 2024
Business Combinations [Abstract]
Business Combinations and Divestiture	NOTE 3. BUSINESS COMBINATIONS AND DIVESTITURE Broadbean Acquisition On June 13, 2023 , the Company acquired Broadbean (as defined below), a global leader of talent acquisition software-as-a-service technology, pursuant to a securities and asset purchase agreement whereby the Company acquired (i) 100 % of the issued and outstanding share capital of (a) Broadbean Technology Pty Ltd I, (b) Broadbean Technology Limited, (c) Broadbean, Inc., and (d) CareerBuilder France S.A.R.L., and (ii) certain assets and liabilities related thereto (the foregoing clauses (i) and (ii) together, “Broadbean”). The acquisition is intended to strengthen Veritone’s AI-driven human resources product suite, building on the Company’s previous acquisition of PandoLogic. The total purchase consideration was $ 53,301 (the “Broadbean Acquisition Consideration”), which consisted of cash payments of $ 53,301 at closing. During the year ended December 31, 2023, the Company incurred $ 4,214 in acquisition-related expenses. The following table summarizes the fair value of the Broadbean Acquisition Consideration: Broadbean Acquisition Consideration Amount Cash consideration at closing $ 53,301 The allocation of the Broadbean Acquisition Consideration to tangible and intangible assets acquired and liabilities assumed is based on estimated fair values and is as follows: Allocation of Broadbean Acquisition Consideration** As Reported Measurement Period Adjustment As Adjusted Cash and cash equivalents $ 3,029 $ 4 $ 3,033 Accounts receivable, net 7,910 ( 93 ) 7,817 Prepaid expenses and other current assets 1,008 ( 1 ) 1,007 Property, equipment and improvements, net 4,348 ( 4,005 ) 343 Intangible assets 27,500 — 27,500 Other assets 1,115 2,371 3,486 Total assets acquired 44,910 ( 1,724 ) 43,186 Accounts payable 1,369 ( 262 ) 1,107 Deferred revenue 10,134 ( 105 ) 10,029 Other accrued liabilities 4,565 489 5,054 Other non-current liabilities 7,565 ( 947 ) 6,618 Total liabilities assumed 23,633 ( 825 ) 22,808 Identifiable net assets acquired 21,277 ( 899 ) 20,378 Goodwill 31,947 976 32,923 Total purchase consideration $ 53,224 $ 77 $ 53,301 **The excess of the total consideration over the tangible assets, identifiable intangible assets, and assumed liabilities is recorded as goodwill. Goodwill is primarily attributable to opportunities to cross-sell into our Commercial Enterprise customer base and to the assembled workforce. Tax deductible goodwill generated from the acquisition is $ 3,728 . During the year ended December 31, 2023, the Company continued finalizing its valuations of the assets acquired and liabilities assumed in the acquisition of Broadbean based on new information obtained about facts and circumstances that existed as of the acquisition date. During the year ended December 31, 2023, the Company recorded measurement period adjustments, as shown in the table above. Identifiable Intangible Assets The identifiable intangible assets acquired consisted of the customer relationships and developed technology with estimated useful lives of four to five years . The Company amortizes the fair value of these intangible assets on a straight-line basis over their respective useful lives. Developed technology relates to Broadbean’s internally developed software. The Company valued the developed technology using the relief- from- royalty method under the income approach. This method is based on the application of a royalty rate to forecasted revenue that is expected to be generated by the existing developed technology. The economic useful life was determined based on the technology cycle related to the developed technology, as well as the timing of cash flows over the forecast period. Customer relationships relate to the sales of products and services to Broadbean’s existing customer base. The Company valued the customer relationships using the multi-period excess earnings method under the income approach. This method reflects the present value of the projected cash flows that are expected to be generated by the existing customer relationships less charges representing the contribution of other assets to those cash flows. The economic useful life was determined based on historical customer turnover rates, as well as the timing of cash flows over the forecast period. The valuation of the intangible assets acquired along with their estimated useful lives, is as follows: Estimated Estimated Useful Lives (in years) Customer relationships $ 17,200 5 Developed technology 10,300 4 Total intangible assets $ 27,500 Taxes In connection with the acquisition of Broadbean, a net deferred tax liability of $ 3,741 was established primarily relating to non-goodwill intangible assets and recorded within other non-current liabilities on the Company’s condensed consolidated balance sheets. The amount of tax-deductible goodwill as of the purchase date is $ 3,728 . The allocation of purchase consideration to deferred tax assets and liabilities and income taxes payable is preliminary as the Company continues to evaluate certain balances, estimates and assumptions during the measurement period (up to one year from the acquisition date). Unaudited Pro Forma Results The unaudited pro forma financial information in the table below summarizes the combined results of operations for the Company and Broadbean as if the companies were combined for the three months ended March 31, 2024 and 2023, respectively. The unaudited pro forma financial information for all periods presented included the business combination accounting effects resulting from this acquisition, including adjustments to reflect recognition of intangible asset amortization. The unaudited pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of January 1, 2023 or the results that may occur in the future. The unaudited pro forma financial information was as follows: Three Months Ended Three Months Ended 2024 2023 Net revenue $ 31,636 $ 38,559 Loss before provision for income taxes ( 26,243 ) ( 24,701 ) Net loss ( 25,198 ) ( 24,072 ) Energy Group Divestiture On June 30, 2023, the Company completed the sale of its energy group (the “Energy Divestiture”) to GridBeyond Limited, an Ireland-based privately held company (“GridBeyond”) that delivers AI-powered energy solutions, pursuant to an asset purchase agreement. The Company received 4,160,644 shares of Series B Preference Shares in GridBeyond valued at approximately $ 2,021 as of June 30, 2023, as well as $ 549 to be paid in cash. The Energy Divestiture resulted in a pre-tax gain of $ 2,572 in second quarter of 2023. The Energy Divestiture does not meet the criteria of discontinued operations because the disposal does not have a major effect on the Company’s operations and financial results. In April 2024, the Company sold its interest in GridBeyond for $ 1,800 in cash.

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	NOTE 4. DEBT Senior Secured Term Loan On December 13, 2023 (the “Closing Date”), the Company and certain of its subsidiaries, as guarantors, entered into a Credit and Guaranty Agreement (the “Credit Agreement”) with certain funds managed by Highbridge Capital Management, LLC and with certain other lenders (collectively, the “Lenders”) and Wilmington Savings Fund Society, FSB, as administrative agent and collateral agent. The Credit Agreement provides for a $ 77,500 senior secured term loan (the “Term Loan”), which was fully drawn by the Company on the Closing Date. On the Closing Date, the Company used $ 37,500 of the Term Loan proceeds to repurchase $ 50,000 of its 2026 Convertible Senior Notes. As a result of the collective transactions at the Closing Date, the Company recorded the Term Loan at fair value and recognized a one-time gain of $ 30,000 on the extinguishment of convertible debt. The initial discount on the Term Loan of $ 23,807 along with the capitalized issuance costs of $ 3,120 each will be amortized to interest expense over the term of the loan using the effective interest method. During the three months ended March 31, 2024 , $ 1,332 was recognized as the amortization of initial discounts and issuance costs. The Company is the borrower under the Credit Agreement and all indebtedness outstanding under the Credit Agreement is guaranteed by each of the Company’s direct and indirect material subsidiaries (the Company and the guarantors, collectively, the “Credit Parties”). Pursuant to a Pledge and Security Agreement, dated December 13, 2023 (the “Pledge and Security Agreement”), the Term Loan is secured by a first-priority security interest in and lien on substantially all tangible and intangible property of the Credit Parties and a pledge of equity interests held by the Credit Parties. The Credit Agreement has certain customary default provisions, representations and warranties and affirmative and negative covenants, including a covenant to maintain unrestricted cash and cash equivalents of at least $ 15,000 at all times. The Company was in compliance with the financial covenants at March 31, 2024. The Term Loan accrues interest at a rate of Term SOFR plus 8.50 % per annum, with a 3.00 % floor for Term SOFR, payable quarterly. A default interest rate of an additional 3.00 % per annum applies on all outstanding obligations after the occurrence and during the continuance of an event of default. The Credit Agreement has a term of four years from the Closing Date, with a scheduled maturity date of December 13, 2027, and requires quarterly amortization payments of 2.50 % of the principal amount, commencing in June 2024 , with the outstanding balance of the Term Loan payable on the scheduled maturity date. The Credit Agreement requires mandatory prepayments from the net cash proceeds received by the Credit Parties for among other things (i) certain asset sales, but only to the extent net cash proceeds therefrom exceed $ 10,000 in the aggregate, and (ii) insurance recoveries on loss of property that are not otherwise reinvested in other assets of the Credit Parties at a 10 % prepayment premium. The Credit Agreement also requires prepayment of the Term Loan in full if $ 30,000 or more of aggregate principal amount of the 2026 Convertible Senior Notes are outstanding on August 14, 2026. The Company may elect to prepay the Term Loan, in whole or in part, in cash, subject to a make-whole premium during the first year of the Term Loan, a 14.0 % prepayment premium during the second year of the Term Loan, and a 7.0 % premium during the third year of the Term Loan. The Term Loan is not repayable with the Company’s common stock, $ 0.001 per share (the “Common Stock”) as was initially set forth in the Commitment Letter. On the Closing Date, the Company issued warrants (the “Warrants”) to the Lenders (in such capacity, the “Warrant Holders”) to purchase up to 3,008,540 shares of the Company’s common stock, par value $ 0.001 per share (the “Common Stock”) at an exercise price of $ 2.576 per share with a termination date of December 12, 2028 . Refer to Note 6 for further details about the Warrants. For the three months ended March 31, 2024, interest expense related to the Term Loan, including amortization of initial discounts and issuance costs, was $ 4,057 . The effective annual interest rate was approximately 31.3 %. The scheduled principal payments on the Term Loan as of March 31, 2024 were as follows: 2024 $ 5,813 2025 7,750 2026 7,750 2027 56,188 Total $ 77,500 Convertible Senior Notes In November 2021, the Company issued, at par value, $ 201,250 aggregate principal amount of 1.75 % convertible senior notes due 2026 (the “Convertible Notes”). The issuance included the full exercise of an option granted by the Company to the initial purchasers of the Convertible Notes to purchase an additional $ 26,250 aggregate principal amount of Convertible Notes. The Convertible Notes were issued pursuant to and are subject to the terms and conditions of an indenture, which is referred to as the Indenture, between the Company and U.S. Bank National Association, as trustee. The Convertible Notes were offered and sold in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. In December 2022, the Company repurchased $ 60,000 aggregate principal amount of the Convertible Notes at approximately 65 % of par (the “2022 Repurchase Transaction”). In December 2023, the Company repurchased $ 50,000 aggregate principal amount of the Convertible Notes at approximately 75 % of par (the “2023 Repurchase Transaction”). The Company has $ 91,250 in aggregate principal amount of the Convertible Notes outstanding as of March 31, 2024. The Convertible Notes are senior, unsecured obligations of the Company and bear interest at a rate of 1.75 % per year. Interest accrues from November 19, 2021 and is payable semi-annually in arrears on May 15 and November 15 of each year, beginning on May 15, 2022 . The Convertible Notes will mature on November 15, 2026 , unless earlier converted, redeemed, or repurchased in accordance with the terms of the Convertible Notes. Holders of the Convertible Notes may convert all or any portion of their Convertible Notes at their option at any time prior to the close of business on the business day immediately preceding May 15, 2026, only under the following conditions: (1) during any calendar quarter commencing after the calendar quarter ending on March 31, 2022 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130 % of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price per $ 1,000 principal amount of Convertible Notes for each trading day of the measurement period was less than 98 % of the product of the last reported sale price of the Company’s common stock and the conversion rate for the Convertible Notes on each such trading day; (3) if the Company calls such Convertible Notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the applicable redemption date; or (4) upon the occurrence of specified corporate events. On or after May 15, 2026 , holders may convert all or any portion of their Convertible Notes at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date regardless of the foregoing conditions. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its common stock or a combination of cash and shares of its common stock, at the Company’s election. The conversion rate for the Convertible Notes initially is 27.2068 shares of the Company’s common stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $ 36.76 per share of common stock). The conversion rate is subject to adjustment in some events but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that occur prior to the maturity date or following the Company’s issuance of a notice of redemption, the Company will, in certain circumstances, increase the conversion rate for a holder who elects to convert its Convertible Notes in connection with such a corporate event or who elects to convert its Convertible Notes called (or deemed called) for redemption during the related redemption period, as the case may be. The Company may not redeem the Convertible Notes prior to November 20, 2024 . The Company may redeem for cash all or any portion of the Convertible Notes (subject to certain limitations), at its option, on or after November 20, 2024 if the last reported sale price of the Company’s common stock has been at least 130 % of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100 % of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Convertible Notes. If the Company undergoes a fundamental change prior to the maturity date, subject to certain conditions, holders may require the Company to repurchase for cash all or any portion of their Convertible Notes. The fundamental change repurchase price will be equal to 100 % of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The Convertible Notes are the Company’s senior unsecured obligations and rank senior in right of payment to all of the Company’s indebtedness that is expressly subordinated in right of payment to the Convertible Notes; equal in right of payment with all existing and future liabilities of the Company that are not so subordinated; effectively junior to any of secured indebtedness of the Company to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) and any preferred equity of the Company’s current or future subsidiaries. The net proceeds from the issuance of the Convertible Notes were approximately $ 194,945 , after deducting debt issuance costs. The total debt issuance costs incurred and recorded by the Company amounted to $ 6,304 , which were recorded as a reduction to the face amount of the Convertible Notes and are being amortized to interest expense using the effective interest method over the contractual term of the Convertible Notes. The Convertible Notes are recorded as a liability within convertible senior notes, non-current. For the three months ended March 31, 2024 and 2023, interest expense related to the Convertible Notes and amortization of the issuance costs was $ 541 and $ 833 , respectively . The effective annual interest rate for the three months ended March 31, 2024 and 2023 was ap proximately 2.42 %. As of March 31, 2024 , the if-converted value of the Convertible Notes did no t exceed the outstanding principal amount. As of March 31, 2024, the total estimated fair value of the Convertible Notes was $ 32,765 , which was determined based on a market approach using actual bids and offers of the Convertible Notes in an over-the-counter market during the period. The Company considers these assumptions to be Level 2 inputs in accordance with the fair value hierarchy described in Note 6. Capped Calls In connection with the 2022 pricing of the Convertible Notes, with the full exercise by the initial purchasers of their option to purchase additional Convertible Notes in November 2021, the Company used approximately $ 18,616 of the net proceeds from the issuance of the Convertible Notes to enter into privately negotiated capped call transactions, which are referred to as the capped calls, with various financial institutions. The capped call transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Convertible Notes, the number of shares of the Company’s common stock underlying the Convertible Notes. The capped call transactions are expected generally to reduce the potential dilution to the Company’s common stock upon conversion of the Convertible Notes and/or offset some or all of any cash payments the Company is required to make in excess of the principal amount of converted Convertible Notes, as the case may be, in the event that the market price per share of the Company’s common stock, as measured under the terms of the capped call transactions, is greater than the strike price of the capped call transactions, which initially corresponds to the conversion price of the Convertible Notes and is subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the Convertible Notes. If, however, the market price per share of the Company’s common stock, as measured under the terms of the capped call transactions, exceeds the cap price of the capped call transactions, there would nevertheless be dilution and/or there would not be an offset of such potential cash payments, in each case, to the extent that such market price exceeds the cap price of the capped call transactions. The initial cap price of the capped calls is $ 48.55 per share of common stock, which represents a premium of 75 % over the last reported sale price of the Company’s common stock of $ 27.74 per share on November 16, 2021, and is subject to certain customary adjustments under the terms of the capped calls; provided that the cap price will not be reduced to an amount less than the strike price of $ 35.76 per share. The capped call transactions are separate transactions and are not part of the terms of the Convertible Notes. The capped calls met the criteria for classification as equity and, as such, are not remeasured each reporting period and are included as a reduction to additional paid-in-capital within stockholders’ equity. In connection with the 2022 Repurchase Transaction, the Company entered into transactions to unwind a portion of the capped calls. As a result, the Company received $ 276 in net proceeds from the proceeds of the unwinding of the capped calls. In connection with the 2023 Repurchase Transaction, the Company entered into transactions to unwind a portion of the capped calls. The Company did no t receive any proceeds from the unwinding of the capped calls in 2023. Credit Facility In August 2023, the Company entered into a three year credit agreement with Alterna Capital Solutions, LLC (“ACS”) pursuant to which the Company may borrow up to $ 30,000 (the “ACS Credit Facility”). Loans under the Credit Facility were secured by certain domestic receivables and other assets as determined by ACS. The ACS Credit Facility bore interest at the greater of Prime rate plus 1 % or 9.5 %, and minimum annual interest of $ 250 if no funds are drawn under the ACS Credit Facility in a given year. ACS was a senior secured creditor. On December 12, 2023, in connection with the Company’s entry into the Credit Agreement (as defined above), the ACS Credit Facility and the related Commercial Guarantee, dated August 8, 2023, were terminated. Immediately prior to its termination, no amounts were outstanding under the Prior Credit Agreement. The Company did no t incur any early termination penalties in connection with the termination of the ACS Credit Facility and related agreements.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	NOTE 5. NET LOSS PER SHARE The following table presents the computation of basic and diluted net loss per share: Three Months Ended 2024 2023 Numerator Net loss $ ( 25,198 ) $ ( 22,963 ) Denominator Weighted-average common shares outstanding 37,353,228 36,587,946 Less: Weighted-average shares subject to repurchase — — Denominator for basic and diluted net loss per share attributable to common stockholders 37,353,228 36,587,946 Basic and diluted net loss per share $ ( 0.67 ) $ ( 0.63 ) The Company reported net losses for all periods presented and, as such, all potentially dilutive shares of common stock would have been antidilutive for such periods. The table below presents the weighted-average securities (in common equivalent shares) outstanding during the periods presented that have been excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive: Three Months Ended 2024 2023 Common stock options, restricted stock units and performance stock units 11,074,865 10,755,833 Warrants to purchase common stock 3,469,769 496,612 Common stock issuable in connection with convertible senior notes 2,482,621 3,842,961 17,027,255 15,095,406

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2024
Investments, All Other Investments [Abstract]
Financial Instruments	NOTE 6. FINANCIAL INSTRUMENTS Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs that may be used to measure fair value. Level 1 and Level 2 are considered observable and Level 3 is considered unobservable, as follows: • Level 1—quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2—inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or • Level 3—unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Cash and Cash Equivalents The Company’s money market funds are categorized as Level 1 within the fair value hierarchy. As of March 31, 2024, the Company’s cash and cash equivalents were as follows: Gross Cash and Unrealized Fair Cash Cost Losses Value Equivalents Cash $ 90,733 $ — $ 90,733 $ 90,733 Total $ 90,733 $ — $ 90,733 $ 90,733 As of December 31, 2023, the Company’s cash and cash equivalents balances were as follows: Gross Cash and Unrealized Fair Cash Cost Losses Value Equivalents Cash $ 79,439 $ — $ 79,439 $ 79,439 Total $ 79,439 $ — $ 79,439 $ 79,439 Contingent Consideration On September 14, 2021 , the Company acquired 100 % of PandoLogic, Ltd. (“PandoLogic”) , a company incorporated under the laws of the state of Israel, pursuant to an Agreement and Plan of Merger, dated as of July 21, 2021 (the “PandoLogic Merger Agreement”). The total purchase consideration for PandoLogic included up to $ 65,000 in contingent consideration based on achieving certain contingent consideration tied to financial performance of PandoLogic in fiscal 2021 and 2022, which amount will be paid in a combination of cash and common stock (the “PandoLogic Contingent Consideration”). All of the Company’s contingent consideration liabilities are categorized as Level 3 within the fair value hierarchy, except when the amount of the payout is determined to be fixed. Contingent consideration for the PandoLogic acquisition was valued at the time of acquisition using Monte Carlo simulation models. These models incorporate contractual terms and assumptions regarding financial forecasts for PandoLogic, discount rates, and volatility of forecasted revenue. The value of the Company’s contingent consideration would increase if a lower discount rate was used and would decrease if a higher discount rate was used. Similarly, a higher revenue volatility assumption would increase the value of the contingent consideration, and a lower revenue volatility assumption would decrease the value of the contingent consideration. Contingent consideration for the March 2022 Acquisition (as defined below) was valued at the time of acquisition using a simple probability of achievement model, with the probability of achievement based on management’s forecasted outcomes for 2022 and 2023 fiscal year results for the acquired entity. The development and determination of the unobservable inputs for Level 3 fair value measurements and fair value calculations are the responsibility of the Company’s management with the assistance of a third-party valuation specialist when deemed necessary. In September 2022, the Company and PandoLogic entered into an amendment to the PandoLogic Merger Agreement. This amendment provides that the PandoLogic Contingent Consideration would be no less than $ 10,825 , irrespective of the actual financial performance of PandoLogic for the PandoLogic Contingent Consideration period. All of the PandoLogic Contingent Consideration was paid during the year ended December 31, 2023 in a combination of cash consideration and stock consideration, with the number of shares paid equal to that stock consideration portion of the contingent consideration amount divided by a price per share of $ 20.53 in accordance with the terms of the PandoLogic Merger Agreement. On March 1, 2022 , the Company acquired 100 % of an influencer-based management company (the “March 2022 Acquisition”). As part of the consideration, the seller was eligible to receive up to $ 4,500 in cash (the “March 2022 Acquisition Contingent Consideration”). In July 2023, the Company entered into an agreement amending the March 2022 Acquisition Contingent Consideration (the “March 2022 Acquisition Amendment”). The March 2022 Acquisition Amendment provides that the March 2022 Acquisition Contingent Consideration was reduced to $ 3,500 and payment of the March 2022 Acquisition Contingent Consideration amount is now tied to employment status of the seller through December 31, 2025, irrespective of the actual financial performance of the acquired company. As the amount became fixed under the March 2022 Acquisition Amendment, the Company determined that the March 2022 Acquisition Contingent Consideration amount should no longer be categorized as Level 3 within the fair value hierarchy at the time of the amendment. As of December 31, 2023, the Company’s contingent consideration liabilities current and non-current balances were as follows: Fair Value as of Changes in Amount Paid Fair Value as of January 1, 2023 Fair Value To Date December 31, 2023 Level 3: Contingent consideration, current $ 8,067 $ 1,651 $ ( 8,718 ) $ 1,000 Contingent consideration, non-current — 633 — 633 Total $ 8,067 $ 2,284 $ ( 8,718 ) $ 1,633 Stock Warrants On the Closing Date of the Term Loan, the Company issued warrants to the Lenders (in such capacity, the “Warrant Holders”) to purchase up to 3,008,540 shares of the Company’s common stock, par value $ 0.001 per share (the “Common Stock”). During the three months ended March 31, 2024 , 349,657 of these warrants were net settled in exchange for 206,957 shares of Common Stock. As of March 31, 2024, the Warrant Holders held warrants to purchase 2,658,883 shares of Common Stock. All of the Company’s outstanding stock warrants are categorized as Level 3 within the fair value hierarchy. Stock warrants are equity classified and have been recorded at their fair value, on their issuance date of December 13, 2023, using either a probability weighted expected return model, the Monte Carlo simulation model or the Black-Scholes option-pricing model. These models incorporate contractual terms, maturity, risk-free interest rates and volatility. The value of the Company’s stock warrants would increase if a higher risk-free interest rate was used and would decrease if a lower risk-free interest rate was used. Similarly, a higher volatility assumption would increase the value of the stock warrants, and a lower volatility assumption would decrease the value of the stock warrants. The development and determination of the unobservable inputs for Level 3 fair value measurements and fair value calculations are the responsibility of the Company’s management with the assistance of a third-party valuation specialist. Investments The Company holds a strategic investment in a technology company that was determined to not have a readily determinable fair value. This investment is carried at a cost of $ 2,750 on the Company’s condensed consolidated balance sheets within other assets as of March 31, 2024 and December 31, 2023 and is categorized as Level 3 within the fair value hierarchy. As part of the Energy Divestiture, the Company acquired a strategic investment in GridBeyond that was determined not to have a readily determinable fair value. This investment is carried at a cost equal to its initial estimated fair value of $ 2,021 on the Company’s condensed consolidated balance sheets within other assets as of March 31, 2024 and December 31, 2023, with that initial estimated fair value based on third party valuation at the time of this transaction and is categorized as Level 3 within the fair value hierarchy. See Note 13 involving the sale of the Company’s investment in GridBeyond subsequent to March 31, 2024. Because these investments do not have readily determinable fair values, the Company has elected to measure these investments under ASC 321, Investments – Equity Securities , at cost minus impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments. No impairment was recorded for the three months ended March 31, 2024. The Company re-measures its investments if there is an observable transaction in a class of security similar to the Company’s investments and there were no such re-measurements for the three months ended March 31, 2024 .

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	NOTE 7. GOODWILL AND INTANGIBLE ASSETS, NET Goodwill The carrying amount of goodwill was $ 79,828 as of March 31, 2024 and $ 80,247 as of December 31, 2023. Goodwill Balance at December 31, 2023 $ 80,247 Foreign currency translation/other ( 419 ) Balance at March 31, 2024 $ 79,828 Intangible Assets The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions and other purchases, which continue to be amortized: March 31, December 31, Weighted Gross Accumulated Net Gross Accumulated Net Software and technology 0.0 $ 3,582 $ ( 3,582 ) $ — $ 3,582 $ ( 3,582 ) $ — Licensed technology 0.0 500 ( 500 ) — 500 ( 500 ) — Developed technology 1.5 44,100 ( 26,830 ) 17,270 44,100 ( 24,601 ) 19,499 Customer and supplier relationships 3.7 99,000 ( 39,977 ) 59,023 99,000 ( 36,323 ) 62,677 Noncompete agreements 0.0 800 ( 800 ) — 800 ( 800 ) — Trademarks and trade names 2.8 2,300 ( 1,150 ) 1,150 2,300 ( 1,053 ) 1,247 Total 3.0 $ 150,282 $ ( 72,839 ) $ 77,443 $ 150,282 $ ( 66,859 ) $ 83,423 The following table presents future amortization of the Company’s finite-lived intangible assets as of March 31, 2024: 2024 (nine months) $ 17,973 2025 21,427 2026 16,569 2027 13,541 2028 7,870 Thereafter 63 Total $ 77,443

Consolidated Financial Statemen

Consolidated Financial Statements Details	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated Financial Statements Details	NOTE 8. CONSOLIDATED FINANCIAL STATEMENTS DETAILS Consolidated Balance Sheets Details Cash and cash equivalents As of March 31, 2024 and December 31, 2023, the Company had cash and cash equivalents of $ 90,733 and $ 79,439 , respectively, including $ 73,300 and $ 44,481 , respectively, of cash received from advertising customers for future payments to vendors. Accounts Receivable, Net and Allowance for Credit Losses Accounts receivable consisted of the following: As of March 31, December 31, Accounts receivable — Managed Services (1) $ 25,748 $ 38,477 Accounts receivable — Software Products & Services (2) 18,635 26,246 Accounts receivable — Other 2,120 5,723 46,503 70,446 Less: allowance for expected credit losses ( 754 ) ( 1,180 ) Accounts receivable, net $ 45,749 $ 69,266 (1) Accounts receivable – Managed Services reflects the amounts due from the Company’s advertising customers. (2) Accounts receivable – Software Products & Services reflects the amounts due from the Company’s Veritone Hire solutions customers. Allowance for Credit Losses Accounting The Company maintains an allowance for expected credit losses to record accounts receivable at their net realizable value. Inherent in the assessment of the allowance for credit losses are certain judgments and estimates relating to, among other things, the Company’s customers’ access to capital, customers’ willingness and ability to pay, general economic conditions and the ongoing relationship with customers. The Company calculates the expected credit losses on a pool basis for those receivables that have similar risk characteristics aligned with the types of accounts receivable listed in the accounts receivable table above. Allowances have been recorded for receivables believed to be uncollectible, including amounts for the resolution of potential credit and other collection issues. The allowance for expected credit losses is determined by analyzing the Company’s historical write-offs and the current aging of receivables. Adjustments to the allowance may be required in future periods depending on how issues considered such as the financial condition of customers and the general economic climate may change or if the financial condition of the Company’s customers were to deteriorate resulting in an impairment of their ability to make payments. The Company has not historically had material write-offs due to uncollectible accounts receivable. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: As of March 31, December 31, Prepaid assets $ 6,153 $ 5,538 Other receivables 1,473 1,805 Trade credits earned through barter transactions, current 6,724 6,427 Other current assets 1,494 687 Prepaid expenses and other current assets $ 15,844 $ 14,457 Other Assets Other assets consisted of the following: As of March 31, December 31, Trade credits earned through barter transactions, non-current $ 10,339 $ 10,682 Investments 4,771 4,771 Other non-current assets 4,797 4,398 Other assets $ 19,907 $ 19,851 Property, Equipment and Improvements, Net Property, equipment and improvements, net consisted of the following: As of March 31, December 31, Property and equipment $ 6,631 $ 6,796 Internal use software development costs placed in service 9,298 8,226 Leasehold improvements 1,629 1,639 17,558 16,661 Less: accumulated depreciation ( 8,393 ) ( 8,005 ) Property, equipment and improvements, net $ 9,165 $ 8,656 Depreciation expense was $ 1,511 and $ 478 for the three months ended March 31, 2024 and 2023, respectively. Of the $ 6,631 in property and equipment as of March 31, 2024 , $ 1,839 consisted of work in progress not yet placed in service for internal use software development costs. Depreciation of internal use software development costs was $ 695 and $ 282 for the three months ended March 31, 2024 and 2023, respectively. Accounts Payable Accounts payable consisted of the following: As of March 31, December 31, Accounts payable — Managed Services (1) $ 18,179 $ 11,797 Accounts payable — Other 18,409 20,959 Accounts payable $ 36,588 $ 32,756 (1) Accounts payable – Managed Services reflects the amounts due to media vendors for advertisements placed on behalf of the Company’s advertising clients. Other Accrued Liabilities Other accrued liabilities consisted of the following: As of March 31, December 31, Accrued compensation $ 4,625 $ 4,615 Taxes payable 4,713 5,425 Current portion of operating lease liabilities 2,239 2,348 Accrued trade payables 13,640 13,749 Other 1,058 958 Other accrued liabilities $ 26,275 $ 27,095 Contract Liabilities Contract liabilities consist of deferred revenue. Deferred revenue represents billings under non-cancelable contracts before the related product or service is transferred to the customer. The portion of deferred revenue that is anticipated to be recognized as revenue during the succeeding twelve-month period is recorded as deferred revenue within the Company's condensed consolidated balance sheets. Deferred revenue was comprised of the following: Three Months Ended 2024 Deferred revenue beginning balance $ 12,813 Less: revenue recognized 5,742 Additions to deferred revenue 6,344 Ending balance of deferred revenue $ 13,415 Consolidated Statements of Operations and Comprehensive Loss Details Revenue Revenue for the periods presented were comprised of the following: Three Months Ended 2024 2023 Commercial Enterprise $ 30,119 $ 28,868 Public Sector 1,517 1,395 Total revenue $ 31,636 $ 30,263 The Company serves two customer groups: (1) Commercial Enterprise, which consists of customers in the commercial sector, including media and entertainment customers, advertising customers, content licensing customers and Veritone Hire customers (inclusive of Broadbean customers); and (2) Public Sector, which consists of customers in the government and regulated industries sectors, including state, local and federal government, legal, and compliance customers, and which we previously referred to as Government & Regulated Industries. Software Products & Services consists of revenues generated from the Company’s aiWARE platform and Veritone Hire solutions’ talent acquisition solutions (inclusive of Broadbean), any related support and maintenance services, and any related professional services associated with the deployment and / or implementation of such solutions. Managed Services consists of revenues generated from content licensing customers and advertising agency customers and related services. The table below illustrates the presentation of our revenues based on the above definitions: VERITONE, INC. REVENUE DETAIL (UNAUDITED) (in thousands) Three Months Ended Three Months Ended Commercial Public Commercial Public Enterprise Sector Total Enterprise Sector Total Total Software Products & Services $ 13,703 $ 1,517 $ 15,220 $ 12,732 $ 1,395 $ 14,127 Managed Services Advertising 10,975 — 10,975 10,535 — 10,535 Licensing 5,441 — 5,441 5,601 — 5,601 Total Managed Services 16,416 — 16,416 16,136 — 16,136 Total Revenue $ 30,119 $ 1,517 $ 31,636 $ 28,868 $ 1,395 $ 30,263 Other Income (Expense), Net Other income (expense), net for the periods presented was comprised of the following: Three Months Ended 2024 2023 Interest expense, net $ ( 3,990 ) $ ( 805 ) Other ( 413 ) 1,160 Other income (expense), net $ ( 4,403 ) $ 355 Other in the table above co nsists of foreign exchange loss of $ 413 for the three months ended March 31, 2024 and foreign exchange gain of $ 1,160 for the three months ended March 31, 2023. Provision for Income Taxes In accordance with ASC 740-270, Income Taxes , the provision or benefit from income taxes for interim periods is determined using an estimate of the Company’s annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the Company updates the estimate of the annual effective tax rate, and if the estimated tax rate changes, the Company records a cumulative adjustment. A separate estimated annual effective tax rate is applied for jurisdictions where an entity anticipates an ordinary loss or has an ordinary loss for the year to date for which no tax benefit can be recognized. The Company’s effective tax rate for the three months ended March 31, 2024 and 2023 was 4.0 % and 1.2 %, respectively. The difference between the effective tax rate and the U.S. federal statutory rate of 21% is primarily due to a valuation allowance established on the Company’s domestic federal and state net deferred tax assets, as well as the impact of foreign operations subject to tax in foreign jurisdictions. As of March 31, 2024, the Company continues to provide a valuation allowance against federal and state deferred tax assets that are not expected to be realizable. The Company continues to evaluate the realizability of deferred tax assets and the related valuation allowance. If the Company’s assessment of the deferred tax assets or the corresponding valuation allowance were to change, the Company would record the related adjustment to income during the period in which the determination is made. As a result of the Broadbean acquisition, the Company expects to be subject to taxation in France and Australia, in addition to already being subject to taxation in the United States, Israel, and the United Kingdom. The United States, Israel, and the United Kingdom comprise the majority of the Company’s operations. In general, the U.S. federal statute of limitations is three years. However, the Internal Revenue Service may still adjust a tax loss or credit carryover in the year the tax loss or credit carryover is utilized. As such, the Company’s U.S. federal tax returns and state tax returns are open for examination since inception. The Israeli statute of limitations period is generally four years commencing at the end of the year in which the return was filed. The UK statute of limitations period is typically twelve months following the date on which the return is filed. The Company is not currently under examination from income tax authorities in the jurisdictions in which the Company does business.

Leases, Commitments and Conting

Leases, Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Leases Commitments And Contingencies [Abstract]
Leases, Commitments and Contingencies	NOTE 9. LEASES, COMMITMENTS AND CONTINGENCIES Leases Lease Costs As of March 31, 2024, on its condensed consolidated balance she et the Company had right-of-use assets of $ 2,058 recorded within other assets , the current portion of operating lease liabilities of $ 2,239 recorded within other accrued liabilities , and the non-current portion of operating lease liabilities of $ 601 recorded within other non-current liabilities . As of December 31, 2023 , on its condensed consolidated balance sheet the Company had right-of-use assets of $ 1,669 recorded within other assets , the current portion of operating lease liabilities of $ 2,348 recorded within other accrued liabilities , and the non-current portion of operating lease liabilities of $ 308 recorded within other non-current liabilities . The Company made cash payments for its operating leases of $ 682 and $ 635 for the three months ended March 31, 2024 and 2023, respectively, all of which were included in cash flows from operating activities within the condensed consolidated statements of cash flows. The Company’s operating leases have a weighted average remaining lease term of 1.4 years and weighted average discount rate of 8.4 %. The total rent expense for all operating leases was $ 638 and $ 546 for the three months ended March 31, 2024 and 2023, respectively, with short-term leases making up an immaterial portion of such expenses. For its sublease, the Company recorded sublease income of $ 277 and $ 277 for the three months ended March 31, 2024 and 2023, respectively. Lease Commitments Future undiscounted lease payments for the Company’s operating lease liabilities, a reconciliation of these payments to its operating lease liabilities, and related sublease income at March 31, 2024 are as follows: Years ended December 31, 2024 (nine months) $ 2,185 2025 671 2026 206 Total future minimum lease payments, including short-term leases 3,062 Less: future minimum lease payments for short-term leases ( 36 ) Less: imputed interest ( 186 ) Present value of future minimum lease payments, excluding short-term leases $ 2,840 Less: current portion of operating lease liabilities ( 2,239 ) Non-current portion of operating lease liabilities 601 Years ended December 31, Sublease Income 2024 (nine months) 931 Total sublease income $ 931 Purchase Consideration In connection with the March 2022 Acquisition, the Company committed to make purchase consideration payments of $ 1,500 within ten days of the first anniversary of the closing date of the March 2022 Acquisition and an additional $ 1,500 within ten days of the second anniversary of the closing date of the March 2022 Acquisition. The first payment of $ 1,500 was made during the first quarter of 2023 and the second payment of $ 1,500 was made during the three months ended March 31, 2024. On June 10, 2022 , the Company acquired VocaliD, Inc. (“VocaliD”), a U.S.-based company that pioneered the creation of personalized synthetic voices. In connection with its acquisition of VocaliD, the Company committed to make purchase consideration payments of $ 1,000 on the first anniversary of the closing date of the acquisition and an additional $ 1,000 on the 18-month anniversary of the closing date of the acquisition. The first payment of $ 1,000 was made during the second quarter of 2023. On August 11, 2022 , the Company acquired certain assets of Vision Semantics Limited (“VSL”), a U.K.-based company focused on AI-powered video analytics and surveillance software solutions. In connection with its acquisition of VSL in August 2022, the Company committed to make a purchase consideration payment of $ 300 on the 18-month anniversary of the closing date of the acquisition, which the Company paid during the three months ended March 31, 2024. Payment of deferred consideration for the three months ended March 31, 2024 and 2023 are reflected on the Company’s statements of cash flows. Other Contingencies From time to time, the Company may be involved in litigation relating to claims arising out of its operations in the normal course of business. The Company currently is not a party to any legal proceedings, the adverse outcome of which, in management’s opinion, individually or in the aggregate, would have a material adverse effect on the Company’s results of operations, financial position or cash flows.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Stockholders' Equity	NOTE 10. STOCKHOLDERS’ EQUITY Common Stock Issuances During the three months ended March 31, 2024 and 2023 , the Company issued an aggregate of 236,156 and 355,790 shares of its common stock, respectively, in connection with the exercise of stock options, issuance of stock awards and vesting of restricted stock units under its stock incentive plans and stock purchases under its Employee Stock Purchase Plan (the “ESPP”). During the three months ended March 31, 2024 and 2023, the Company issued a total of 206,957 shares of its common stock in connection with warrant exercises (see Note 6). During the three months ended March 31, 2023, the Company issued a total of 135,800 shares of its common stock in connection with the contingent consideration arrangement related to the acquisition of PandoLogic, respectively.

Stock Plans

Stock Plans	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock Plans	NOTE 11. STOCK PLANS Stock-Based Compensation During the three months ended March 31, 2024 and 2023, the Company granted options to purc hase an aggregate of 0 and 226,966 shares of its common stock that are subject to time-based vesting conditions, respectively. The Company valued these stock options using the Black-Scholes Merton option pricing model. The assumptions used to compute the grant date fair values of the stock options granted during the three months ended March 31, 2024 and 2023 are set forth in the table below: Three Months Ended 2024 2023 Expected term (in years) N/A 6.8 Expected volatility N/A 91 % Risk-free interest rate N/A 3.6 % The assumptions used in calculating the fair values of purchase rights granted under the ESPP during the three months ended March 31, 2024 and 2023 are set forth in the table below: Three Months Ended 2024 2023 Expected term (in years) 0.5 - 2.0 0.5 - 2.0 Expected volatility 105 % - 115 % 71 % - 101 % Risk-free interest rate 4.7 % - 5.2 % 0.1 % - 4.8 % The Company’s stock-based compensation expense by type of award and by operating expense grouping are presented below: Three Months Ended 2024 2023 Stock-based compensation expense by type of award: Restricted stock units $ 830 $ 2,168 Performance-based stock units — 328 Stock options 622 971 Employee stock purchase plan 156 450 Total stock-based compensation expense $ 1,608 $ 3,917 Stock-based compensation expense by operating expense grouping: Cost of revenue $ ( 1 ) $ 20 Sales and marketing 176 176 Research and development 532 1,542 General and administrative 901 2,179 Total stock-based compensation expense $ 1,608 $ 3,917 Stock-based compensation capitalized for internal-use so ftware was $ 118 and $ 134 for the three months ended March 31, 2024 and 2023, respectively. Equity Award Activity Under Stock Plans Performance Stock Units In connection with the Steel Holdings Consulting Agreement (as defined and further described in Note 12), on January 11, 2023, the Compensation Committee of the Board (the “Compensation Committee”) approved a grant of 118,460 performance stock units (the “Steel Holdings Consulting PSUs”) that were to vest upon the achievement of certain performance milestones. During the year ended December 31, 2023, certain performance milestones were achieved resulting in the vesting of 19,743 shares of the Steel Holdings Consulting PSUs on April 22, 2023 and 39,486 shares on November 15, 2023. In January 2024, the Company entered into an amended and restated independent contractor services agreement with Steel Holdings, LLC (the “Amended Consulting Agreement”), which supersedes and replaces the Steel Holdings Consulting Agreement. Under the Amended Consulting Agreement, all equity grants that were made, other than vested Steel Holdings PSUs but including unvested Steel Holdings PSUs, or contemplated under the Steel Holdings Consulting Agreement were terminated as of the effective date of the Amended Consulting Agreement and no further performance stock units will be issued under the Amended Consulting Agreement. On March 16, 2023, the Compensation Committee approved a grant of 170,402 target performance stock units to be granted to the Company’s named executive officers (the “Senior Executive PSUs”). The awards had a grant date of March 31, 2023 and were to vest based on the achievement of revenue and non-GAAP net income targets (each equally weighted) for 2023, which achievement shall then be modified (up to a 20 % increase or decrease) based on the Company’s relative total stockholder return over a three-year performance period (the “TSR Modifier”), as compared with the S&P Software and Services Select Industry Index. Based on the Company’s performance, the Company’s named executive officers were to earn from 0 % to 200 % of the target number of shares of the Senior Executive PSUs. The Senior Executive PSUs, to the extent earned, were to vest on the date the Board certifies the TSR Modifier for the three-year performance period ending December 31, 2025 and the number of Senior Executive PSUs that were to vest as of such certification, all of which was to occur within 90 days of the end of the performance period ending December 31, 2025 . Compensation costs recognized on the Senior Executive PSUs were to be adjusted, as applicable, for performance above or below the target specified in the award. On April 8, 2024, the Compensation Committee determined that, as of December 31, 2023, the revenue and non-GAAP net income targets were not achieved and the Senior Executive PSUs were forfeited. The Company’s performance stock unit activity for the three months ended March 31, 2024 was as follows: Weighted Average Grant Shares Date Fair Value Unvested at December 31, 2023 229,633 $ 5.86 Forfeited ( 59,231 ) $ 5.94 Unvested at March 31, 2024 170,402 $ 5.86 Restricted Stock Units The Company’s restricted stock unit activity for the three months ended March 31, 2024 was as follows: Weighted Average Grant Shares Date Fair Value Unvested at December 31, 2023 1,949,514 $ 5.40 Granted 3,000 $ 3.88 Forfeited ( 186,560 ) $ 6.73 Vested ( 153,085 ) $ 7.30 Unvested at March 31, 2024 1,612,869 $ 5.01 As of March 31, 2024, total unrecognized compens ation cost related to restricted stock units was $ 5,729 , which is expected to be recognized over a weighted average period of 2.1 years. Performance-Based Stock Options The activity during the three months ended March 31, 2024 related to stock options that are subject to performance-based vesting conditions tied to the achievement of stock price goals by the Company was as follows: Weighted-Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value Unvested at December 31, 2023 3,671,310 $ 11.29 Expired ( 21,840 ) $ 5.78 Outstanding at March 31, 2024 3,649,470 $ 11.32 6.2 years $ 1 Exercisable at March 31, 2024 3,649,470 $ 11.32 6.2 years $ 1 The aggregate intrinsic value of the options exercised during the three months ended March 31, 2024 and 2023 was $ 0 and $ 5 , respectively. No performance-based stock options were granted during the three months ended March 31, 2024 and 2023 and no performance-based stock options vested during the three months ended March 31, 2024. Stock Options The activity during the three months ended March 31, 2024 related to all other stock options was as follows: Weighted-Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value Outstanding at December 31, 2023 5,506,374 $ 13.81 Exercised ( 17,521 ) $ 2.85 Forfeited ( 153,353 ) $ 8.86 Expired ( 78,939 ) $ 10.28 Outstanding at March 31, 2024 5,256,561 $ 14.04 4.1 years $ 1,120 Exercisable at March 31, 2024 4,799,140 $ 14.10 3.7 years $ 1,041 No stock options were granted during three months ended March 31, 2024. The weighted average grant date fair value of stock options granted during the three months ended March 31, 2023 wa s $ 4.21 per share. The aggregate intrinsic value of the stock options exercised during the three months ended March 31, 2024 and 2023 was $ 30 and $ 10 , respectively. The total grant date fair value of stock options vested during the three months ended March 31, 2024 and 2023 was $ 1,080 and $ 1,584 , respectively. At March 31, 2024 , total unrecognized compensation expense related to stock options was $ 4,194 and is expected to be recognized over a weighted average period of 2.1 years. The aggregate intrinsic values in the tables above represent the difference between the fair market value of the Company’s common stock and the average option exercise price of in-the-money options, multiplied by the number of such stock options. Employee Stock Purchase Plan As of March 31, 2024 and December 31, 2023 , employee payroll deductions accrued under the ESPP totaled $ 160 and $ 357 , respectively. During the three months ended March 31, 2024 , a total of 119,954 shares of common stock were purchased under the ESPP.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 12. RELATED PARTY TRANSACTIONS On January 4, 2023, the Company entered into an independent contractor services agreement with Steel Holdings, LLC, effective as of January 1, 2023 the Steel Holdings Consulting Agreement. Steel Holdings, LLC is an entity affiliated with Chad Steelberg, currently a director serving on the Company’s Board, and formerly its Chairman of the Board and Chief Executive Officer. Under the Steel Holdings Consulting Agreement, the Company retained Mr. Steelberg as a consultant to provide ongoing Chief Executive Officer transition services and to manage and oversee the further development of the Company’s aiWARE platform. In January 2024, the Company entered into the Amended Consulting Agreement, which supersedes and replaces the Steel Holdings Consulting Agreement. Pursuant to the Amended Consulting Agreement, Mr. Steelberg will provide technical advisory services related to the Company’s software, software architecture and technology strategy as requested by the Company’s Chief Executive Officer until December 31, 2025, the termination date of the Amended Consulting Agreement. In consideration for such services, the Company will pay to Steel Holdings, LLC (i) $ 1,000 in cash on July 1, 2024 and (ii) $ 50 per month in cash for the period from January 2024 through December 2025. The Company will reimburse Steel Holdings, LLC for reasonable and documented expenses incurred in connection with providing the services in accordance with the Company’s standard travel and expense policies. All equity grants that were made, including the unvested Steel Holdings PSUs, or contemplated under the Steel Holdings Consulting Agreement were terminated as of the effective date of the Amended Consulting Agreement and no further performance stock units will be issued under the Amended Consulting Agreement, except that the vested Steel Holdings PSUs remained outstanding. The Amended Consulting Agreement may be terminated by either party with 90 days’ notice. If the Company terminates the Amended Consulting Agreement for any reason other than Steel Holdings, LLC’s material breach, then any remaining cash compensation payments under the Amended Consulting Agreement will become due and payable. In the event of a Change in Control (as defined in the 2017 Plan), the Amended Consulting Agreement will terminate as of the effective date of the Change in Control and any remaining cash compensation payments will become due and payable. The Company has determined that all future payments under the Amended Consulting Agreement are probable and estimable, and that substantially all benefits earned under the agreement relate to past services rendered. As such, the Company has accrued a liability for all future cash payments under the agreement on its condensed consolidated balance sheet as of March 31, 2024, and recognized a resulting acceleration charge of $ 1,484 to general and administrative expenses to its condensed consolidated income statement during the three months ended March 31, 2024. There were no other material related party transactions dur ing the three months ended March 31, 2024.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	NOTE 13. SUBSEQUENT EVENTS In April 2024, the Company sold its investment in GridBeyond for $ 1,800 in cash.

Presentation and Summary of S_2

Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements and the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements. Such unaudited condensed consolidated financial statements and accompanying notes are based on the representations of the Company’s management, who is responsible for their integrity and objectivity. The information included in this Form 10-Q should be read in conjunction with the information included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on April 1, 2024. Interim results for the three months ended March 31, 2024 are not necessarily indicative of the results the Company will have for the full year ending December 31, 2024. The accompanying condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which are normal, recurring and necessary to fairly state the Company’s financial position, results of operations and cash flows. All significant intercompany transactions have been eliminated in consolidation. The financial data and the other information disclosed in these notes to the condensed consolidated financial statements reflected in the three month periods presented are unaudited. The December 31, 2023 balance sheet included herein was derived from the audited financial statements but does not include all disclosures or notes required by GAAP for complete financial statements.
Liquidity and Capital Resources	Liquidity and Capital Resources These consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles assuming the Company will continue as a going concern. During the years ended December 31, 2023 and 2022, the Company used cash in operations of $ 76,421 and generated cash flows from operations of $ 3,737 , respectively, and incurred net losses of $ 58,625 and $ 25,557 , respectively. During the three months ended March 31, 2024 and 2023, the Company generated cash flows from operations of $ 15,931 and used cash in operations of $ 33,785 , respectively, and incurred net losses of $ 25,198 and $ 22,963 , respectively. As of March 31, 2024, the Company had an accumulated deficit of $ 455,094 . Historically, the Company has satisfied its capital needs with the net proceeds from sales of its equity securities, issuances of its convertible debt, borrowings under its term loan and the exercises of common stock options and warrants. During the three months ended March 31, 2024, the Company generated cash flows from operations of $ 15,931 , driven principally by the timing of payments from customers and from client advances, partially offset by the Company’s net loss of $ 25,198 . The Company used cash in investing activities of $ 1,901 , driven principally by capital expenditures, and used cash in financing activities of $ 2,674 , driven principally by the settlement of contingent and deferred consideration. As of March 31, 2024 , the Company had cash and cash equivalents of $ 91,662 , including long term restricted cash of $ 929 . Based on the Company's liquidity position as of March 31, 2024 and the Company's current forecast of operating results and cash flows, absent any other action, management determined that the Company will require additional liquidity to continue its operations for the foreseeable future, including over the next twelve months. In the near term and to meet its obligations as they come due, the Company expects to capture these and potential future cost synergies from the Company’s past acquisitions. The Company expects the cost synergies coupled with the additional cost reduction measures to enable the Company to continue operations for the foreseeable future, including over the next twelve months.
Use of Accounting Estimates	Use of Accounting Estimates 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 credit losses, purchase accounting, impairment of long-lived assets, the valuation of contingent consideration, the valuation of senior secured debt, the valuation of non-cash consideration received in barter transactions and the evaluation of its realizability, the valuation of stock awards and stock warrants and income taxes, where applicable. There has been uncertainty and disruption in the global economy and financial markets due to a number of factors including the wars in Ukraine and Israel, the global inflationary environment and high interest rates. The war in Israel has also adversely impacted the Company’s business operations because the Company has an office and personnel based in Herzliya, Israel. 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. 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.
Significant Customers	Significant Customers During and as of the three months ended March 31, 2024 , no individual customer accounted for more than 10 % of the Company’s revenue and one individual customer accounted for 10 % or more of accounts receivable. During and as of the three months ended March 31, 2023, one individual customer accounted for 10 % or more of the Company’s revenue and two individual customers accounted for 10 % or more of the Company’s accounts receivable. No individual customer accounted for 10 % or more of the Company’s accounts receivable as of December 31, 2023 .
Contract Balances	Contract Balances Contract liabilities are recorded as deferred revenue when customer payments are received in advance of the Company meeting all the revenue recognition criteria. The Company recognized $5,742 of revenue during the three months ended March 31, 2024 that was included in the deferred revenue balance as of December 31, 2023.
Remaining Performance Obligations	Remaining Performance Obligations As of March 31, 2024, the aggregate amount of the transaction prices under the Company’s contracts allocated to the Company’s remaining pe rformance obligations was $ 26,734 , approximately 48.0 % of which the C ompany expects to recognize as revenue over the next twelve months , and the remainder thereafter to be recognized over the next three years . This aggregate amount excludes amounts allocated to remaining performance obligations under contracts that have an original duration of one year or less and variable consideration that is allocated to remaining performance obligations. Excluded based on this policy are balances related to Veritone Hire solutions representing gross purchase orders to be satisfied in less than one year. Revenues will be recognized net of costs to fulfill these orders.
Segment Information	Segment Information The Company operates as one reportable segment. The Company reports segment information based on the internal reporting used by the chief operating decision maker for making decisions and assessing performance as the source of the Company’s reportable segments.
Seasonality	Seasonality The Company experiences seasonal fluctuations in its revenue and operating performance as a result of the utilization of its platform and associated revenues from its Software Products & Services. In particular, Veritone Hire solutions revenues and advertising have historically been higher in the second half of each fiscal year, consistent with the hiring and spending cycles of the Company’s larger customers. The Company also experiences seasonality as a result of factors such as the timing of large projects, the length and complexity of sales cycles, trends impacting the Company’s target vertical markets and the Company’s revenue recognition policies and any changes to those policies. Within a given quarter, a higher proportion of the Company’s agreements are signed toward the end of such quarter. Although these seasonal factors are common in the technology industry, historical patterns should not be considered a reliable indicator of our future sales activity or performance.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies from those disclosed in its Annual Report on Form 10-K for the year ended December 31, 2023.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In September 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) which requires measurement and recognition of expected credit losses for financial assets held. This standard was effective for the Company beginning in the first quarter of fiscal year 2023. The Company adopted this guidance on January 1, 2023 and the impact of the adoption was not material to our condensed consolidated financial statements as credit losses are not expected to be significant based on historical collection trends, the financial condition of payment partners, and external market factors. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers , in order to align the recognition of a contract liability with the definition of a performance obligation. The Company adopted this guidance on January 1, 2023. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements.
Allowance for Credit Losses Accounting	Allowance for Credit Losses Accounting The Company maintains an allowance for expected credit losses to record accounts receivable at their net realizable value. Inherent in the assessment of the allowance for credit losses are certain judgments and estimates relating to, among other things, the Company’s customers’ access to capital, customers’ willingness and ability to pay, general economic conditions and the ongoing relationship with customers. The Company calculates the expected credit losses on a pool basis for those receivables that have similar risk characteristics aligned with the types of accounts receivable listed in the accounts receivable table above. Allowances have been recorded for receivables believed to be uncollectible, including amounts for the resolution of potential credit and other collection issues. The allowance for expected credit losses is determined by analyzing the Company’s historical write-offs and the current aging of receivables. Adjustments to the allowance may be required in future periods depending on how issues considered such as the financial condition of customers and the general economic climate may change or if the financial condition of the Company’s customers were to deteriorate resulting in an impairment of their ability to make payments. The Company has not historically had material write-offs due to uncollectible accounts receivable.

Business Combinations and Div_2

Business Combinations and Divestiture (Tables) - Broadbean Acquisition [Member]	3 Months Ended
	Mar. 31, 2024
Summary of Allocation of Acquisition & Merger Consideration	The following table summarizes the fair value of the Broadbean Acquisition Consideration: Broadbean Acquisition Consideration Amount Cash consideration at closing $ 53,301 The allocation of the Broadbean Acquisition Consideration to tangible and intangible assets acquired and liabilities assumed is based on estimated fair values and is as follows: Allocation of Broadbean Acquisition Consideration** As Reported Measurement Period Adjustment As Adjusted Cash and cash equivalents $ 3,029 $ 4 $ 3,033 Accounts receivable, net 7,910 ( 93 ) 7,817 Prepaid expenses and other current assets 1,008 ( 1 ) 1,007 Property, equipment and improvements, net 4,348 ( 4,005 ) 343 Intangible assets 27,500 — 27,500 Other assets 1,115 2,371 3,486 Total assets acquired 44,910 ( 1,724 ) 43,186 Accounts payable 1,369 ( 262 ) 1,107 Deferred revenue 10,134 ( 105 ) 10,029 Other accrued liabilities 4,565 489 5,054 Other non-current liabilities 7,565 ( 947 ) 6,618 Total liabilities assumed 23,633 ( 825 ) 22,808 Identifiable net assets acquired 21,277 ( 899 ) 20,378 Goodwill 31,947 976 32,923 Total purchase consideration $ 53,224 $ 77 $ 53,301 **The excess of the total consideration over the tangible assets, identifiable intangible assets, and assumed liabilities is recorded as goodwill. Goodwill is primarily attributable to opportunities to cross-sell into our Commercial Enterprise customer base and to the assembled workforce. Tax deductible goodwill generated from the acquisition is $ 3,728 .
Summary of Valuation of Intangible Assets	The valuation of the intangible assets acquired along with their estimated useful lives, is as follows: Estimated Estimated Useful Lives (in years) Customer relationships $ 17,200 5 Developed technology 10,300 4 Total intangible assets $ 27,500
Summary of Unaudited Proforma Information	The unaudited pro forma financial information was as follows: Three Months Ended Three Months Ended 2024 2023 Net revenue $ 31,636 $ 38,559 Loss before provision for income taxes ( 26,243 ) ( 24,701 ) Net loss ( 25,198 ) ( 24,072 )

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Scheduled Principal Payments on Term Loan	The scheduled principal payments on the Term Loan as of March 31, 2024 were as follows: 2024 $ 5,813 2025 7,750 2026 7,750 2027 56,188 Total $ 77,500

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss Per Common Share	The following table presents the computation of basic and diluted net loss per share: Three Months Ended 2024 2023 Numerator Net loss $ ( 25,198 ) $ ( 22,963 ) Denominator Weighted-average common shares outstanding 37,353,228 36,587,946 Less: Weighted-average shares subject to repurchase — — Denominator for basic and diluted net loss per share attributable to common stockholders 37,353,228 36,587,946 Basic and diluted net loss per share $ ( 0.67 ) $ ( 0.63 )
Effect of Anti-dilutive Securities	The table below presents the weighted-average securities (in common equivalent shares) outstanding during the periods presented that have been excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive: Three Months Ended 2024 2023 Common stock options, restricted stock units and performance stock units 11,074,865 10,755,833 Warrants to purchase common stock 3,469,769 496,612 Common stock issuable in connection with convertible senior notes 2,482,621 3,842,961 17,027,255 15,095,406

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, All Other Investments [Abstract]
Schedule of Cash and Cash Equivalents	The Company’s money market funds are categorized as Level 1 within the fair value hierarchy. As of March 31, 2024, the Company’s cash and cash equivalents were as follows: Gross Cash and Unrealized Fair Cash Cost Losses Value Equivalents Cash $ 90,733 $ — $ 90,733 $ 90,733 Total $ 90,733 $ — $ 90,733 $ 90,733 As of December 31, 2023, the Company’s cash and cash equivalents balances were as follows: Gross Cash and Unrealized Fair Cash Cost Losses Value Equivalents Cash $ 79,439 $ — $ 79,439 $ 79,439 Total $ 79,439 $ — $ 79,439 $ 79,439
Schedule of Contingent Consideration Liabilities Current and Non-current Balances	As of December 31, 2023, the Company’s contingent consideration liabilities current and non-current balances were as follows: Fair Value as of Changes in Amount Paid Fair Value as of January 1, 2023 Fair Value To Date December 31, 2023 Level 3: Contingent consideration, current $ 8,067 $ 1,651 $ ( 8,718 ) $ 1,000 Contingent consideration, non-current — 633 — 633 Total $ 8,067 $ 2,284 $ ( 8,718 ) $ 1,633

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill	The carrying amount of goodwill was $ 79,828 as of March 31, 2024 and $ 80,247 as of December 31, 2023. Goodwill Balance at December 31, 2023 $ 80,247 Foreign currency translation/other ( 419 ) Balance at March 31, 2024 $ 79,828
Summary of Finite-Lived Intangible Assets Resulting from Business Acquisitions and Other Purchases	The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions and other purchases, which continue to be amortized: March 31, December 31, Weighted Gross Accumulated Net Gross Accumulated Net Software and technology 0.0 $ 3,582 $ ( 3,582 ) $ — $ 3,582 $ ( 3,582 ) $ — Licensed technology 0.0 500 ( 500 ) — 500 ( 500 ) — Developed technology 1.5 44,100 ( 26,830 ) 17,270 44,100 ( 24,601 ) 19,499 Customer and supplier relationships 3.7 99,000 ( 39,977 ) 59,023 99,000 ( 36,323 ) 62,677 Noncompete agreements 0.0 800 ( 800 ) — 800 ( 800 ) — Trademarks and trade names 2.8 2,300 ( 1,150 ) 1,150 2,300 ( 1,053 ) 1,247 Total 3.0 $ 150,282 $ ( 72,839 ) $ 77,443 $ 150,282 $ ( 66,859 ) $ 83,423
Summary of Future Amortization of Finite-Lived Intangible Assets	The following table presents future amortization of the Company’s finite-lived intangible assets as of March 31, 2024: 2024 (nine months) $ 17,973 2025 21,427 2026 16,569 2027 13,541 2028 7,870 Thereafter 63 Total $ 77,443

Consolidated Financial Statem_2

Consolidated Financial Statements Details (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Accounts Receivable, Net	Accounts receivable consisted of the following: As of March 31, December 31, Accounts receivable — Managed Services (1) $ 25,748 $ 38,477 Accounts receivable — Software Products & Services (2) 18,635 26,246 Accounts receivable — Other 2,120 5,723 46,503 70,446 Less: allowance for expected credit losses ( 754 ) ( 1,180 ) Accounts receivable, net $ 45,749 $ 69,266 (1) Accounts receivable – Managed Services reflects the amounts due from the Company’s advertising customers. (2) Accounts receivable – Software Products & Services reflects the amounts due from the Company’s Veritone Hire solutions customers.
Summary of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following: As of March 31, December 31, Prepaid assets $ 6,153 $ 5,538 Other receivables 1,473 1,805 Trade credits earned through barter transactions, current 6,724 6,427 Other current assets 1,494 687 Prepaid expenses and other current assets $ 15,844 $ 14,457
Summary of Other Assets	Other assets consisted of the following: As of March 31, December 31, Trade credits earned through barter transactions, non-current $ 10,339 $ 10,682 Investments 4,771 4,771 Other non-current assets 4,797 4,398 Other assets $ 19,907 $ 19,851
Summary of Property Equipment and Improvements, Net	Property, equipment and improvements, net consisted of the following: As of March 31, December 31, Property and equipment $ 6,631 $ 6,796 Internal use software development costs placed in service 9,298 8,226 Leasehold improvements 1,629 1,639 17,558 16,661 Less: accumulated depreciation ( 8,393 ) ( 8,005 ) Property, equipment and improvements, net $ 9,165 $ 8,656
Summary of Accounts Payable	Accounts payable consisted of the following: As of March 31, December 31, Accounts payable — Managed Services (1) $ 18,179 $ 11,797 Accounts payable — Other 18,409 20,959 Accounts payable $ 36,588 $ 32,756 (1) Accounts payable – Managed Services reflects the amounts due to media vendors for advertisements placed on behalf of the Company’s advertising clients.
Summary of Other Accrued Liabilities	Other accrued liabilities consisted of the following: As of March 31, December 31, Accrued compensation $ 4,625 $ 4,615 Taxes payable 4,713 5,425 Current portion of operating lease liabilities 2,239 2,348 Accrued trade payables 13,640 13,749 Other 1,058 958 Other accrued liabilities $ 26,275 $ 27,095
Summary of Deferred Revenue	Deferred revenue was comprised of the following: Three Months Ended 2024 Deferred revenue beginning balance $ 12,813 Less: revenue recognized 5,742 Additions to deferred revenue 6,344 Ending balance of deferred revenue $ 13,415
Summary of Revenue	Revenue for the periods presented were comprised of the following: Three Months Ended 2024 2023 Commercial Enterprise $ 30,119 $ 28,868 Public Sector 1,517 1,395 Total revenue $ 31,636 $ 30,263
Summary of Presentation of Revenues	The table below illustrates the presentation of our revenues based on the above definitions: VERITONE, INC. REVENUE DETAIL (UNAUDITED) (in thousands) Three Months Ended Three Months Ended Commercial Public Commercial Public Enterprise Sector Total Enterprise Sector Total Total Software Products & Services $ 13,703 $ 1,517 $ 15,220 $ 12,732 $ 1,395 $ 14,127 Managed Services Advertising 10,975 — 10,975 10,535 — 10,535 Licensing 5,441 — 5,441 5,601 — 5,601 Total Managed Services 16,416 — 16,416 16,136 — 16,136 Total Revenue $ 30,119 $ 1,517 $ 31,636 $ 28,868 $ 1,395 $ 30,263
Schedule of Other Income (Expense), Net	Other income (expense), net for the periods presented was comprised of the following: Three Months Ended 2024 2023 Interest expense, net $ ( 3,990 ) $ ( 805 ) Other ( 413 ) 1,160 Other income (expense), net $ ( 4,403 ) $ 355

Leases, Commitments and Conti_2

Leases, Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
Leases Commitments And Contingencies [Abstract]
Summary of Future Minimum Lease Payments	Future undiscounted lease payments for the Company’s operating lease liabilities, a reconciliation of these payments to its operating lease liabilities, and related sublease income at March 31, 2024 are as follows: Years ended December 31, 2024 (nine months) $ 2,185 2025 671 2026 206 Total future minimum lease payments, including short-term leases 3,062 Less: future minimum lease payments for short-term leases ( 36 ) Less: imputed interest ( 186 ) Present value of future minimum lease payments, excluding short-term leases $ 2,840 Less: current portion of operating lease liabilities ( 2,239 ) Non-current portion of operating lease liabilities 601 Years ended December 31, Sublease Income 2024 (nine months) 931 Total sublease income $ 931

Stock Plans (Tables)

Stock Plans (Tables)	3 Months Ended
	Mar. 31, 2024
Schedule of Stock-based Compensation Expense	The Company’s stock-based compensation expense by type of award and by operating expense grouping are presented below: Three Months Ended 2024 2023 Stock-based compensation expense by type of award: Restricted stock units $ 830 $ 2,168 Performance-based stock units — 328 Stock options 622 971 Employee stock purchase plan 156 450 Total stock-based compensation expense $ 1,608 $ 3,917 Stock-based compensation expense by operating expense grouping: Cost of revenue $ ( 1 ) $ 20 Sales and marketing 176 176 Research and development 532 1,542 General and administrative 901 2,179 Total stock-based compensation expense $ 1,608 $ 3,917
Schedule of Performance Stock Unit Activity	The Company’s performance stock unit activity for the three months ended March 31, 2024 was as follows: Weighted Average Grant Shares Date Fair Value Unvested at December 31, 2023 229,633 $ 5.86 Forfeited ( 59,231 ) $ 5.94 Unvested at March 31, 2024 170,402 $ 5.86
Schedule of Restricted Stock Unit Activity	The Company’s restricted stock unit activity for the three months ended March 31, 2024 was as follows: Weighted Average Grant Shares Date Fair Value Unvested at December 31, 2023 1,949,514 $ 5.40 Granted 3,000 $ 3.88 Forfeited ( 186,560 ) $ 6.73 Vested ( 153,085 ) $ 7.30 Unvested at March 31, 2024 1,612,869 $ 5.01
Schedule of Stock Option Activity	The activity during the three months ended March 31, 2024 related to all other stock options was as follows: Weighted-Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value Outstanding at December 31, 2023 5,506,374 $ 13.81 Exercised ( 17,521 ) $ 2.85 Forfeited ( 153,353 ) $ 8.86 Expired ( 78,939 ) $ 10.28 Outstanding at March 31, 2024 5,256,561 $ 14.04 4.1 years $ 1,120 Exercisable at March 31, 2024 4,799,140 $ 14.10 3.7 years $ 1,041
Employee Stock Purchase Plan [Member]
Summary of Fair Value Assumptions of Stock Purchase Plan	The assumptions used in calculating the fair values of purchase rights granted under the ESPP during the three months ended March 31, 2024 and 2023 are set forth in the table below: Three Months Ended 2024 2023 Expected term (in years) 0.5 - 2.0 0.5 - 2.0 Expected volatility 105 % - 115 % 71 % - 101 % Risk-free interest rate 4.7 % - 5.2 % 0.1 % - 4.8 %
Stock Options [Member]
Schedule of Fair Value Assumptions	The assumptions used to compute the grant date fair values of the stock options granted during the three months ended March 31, 2024 and 2023 are set forth in the table below: Three Months Ended 2024 2023 Expected term (in years) N/A 6.8 Expected volatility N/A 91 % Risk-free interest rate N/A 3.6 %
Performance-based Stock Options [Member]
Schedule of Stock Option Activity	The activity during the three months ended March 31, 2024 related to stock options that are subject to performance-based vesting conditions tied to the achievement of stock price goals by the Company was as follows: Weighted-Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value Unvested at December 31, 2023 3,671,310 $ 11.29 Expired ( 21,840 ) $ 5.78 Outstanding at March 31, 2024 3,649,470 $ 11.32 6.2 years $ 1 Exercisable at March 31, 2024 3,649,470 $ 11.32 6.2 years $ 1

Presentation and Summary of S_3

Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($) Segment Customer	Mar. 31, 2023 USD ($) Customer	Dec. 31, 2023 USD ($) Customer	Dec. 31, 2022 USD ($)
Significant Accounting Policies [Line Items]
Decrease in other income, net	$ (4,403)	$ 355
Increase in benefit from provision for income taxes	(1,045)	(271)
Increase in foreign currency translation loss, net of income taxes	219	(766)
Positive (negative) cash flows from operations	15,931	(33,785)	$ (76,421)	$ 3,737
Positive (negative) cash flows from investing activities	(1,901)	(2,947)
Positive (negative) cash flows from financing activities	(2,674)	(7,981)
Net loss	25,198	$ 22,963	58,625	$ 25,557
Accumulated deficit	455,094		429,896
Cash and cash equivalents	91,662
Long-term restricted cash	929		867
Transaction price remaining performance obligations	$ 26,734
Transaction price remaining performance obligations percentage	48%
Number of reportable segment | Segment	1
Advertising Customers [Member]
Significant Accounting Policies [Line Items]
Cash received	$ 73,300		$ 44,481
Sales Revenue [Member] | Customer Concentration Risk [Member] | Significant Customer [Member]
Significant Accounting Policies [Line Items]
Number of major customers | Customer	0	1
Concentration risk percentage	10%	10%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Significant Customer [Member]
Significant Accounting Policies [Line Items]
Number of major customers | Customer	1	2	0
Concentration risk percentage	10%	10%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Advertising Customers [Member] | Significant Customer [Member]
Significant Accounting Policies [Line Items]
Concentration risk percentage			10%

Presentation and Summary of S_4

Presentation and Summary of Significant Accounting Policies - Additional Information (Details 1)	Mar. 31, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01
Significant Accounting Policies [Line Items]
Expected Recognition of revenue over remaining contract terms	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-04-01
Significant Accounting Policies [Line Items]
Expected Recognition of revenue over remaining contract terms	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-04-01
Significant Accounting Policies [Line Items]
Expected Recognition of revenue over remaining contract terms	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-04-01
Significant Accounting Policies [Line Items]
Expected Recognition of revenue over remaining contract terms	1 year

Business Combinations and Div_3

Business Combinations and Divestiture - Additional Information (Detail) - USD ($)					1 Months Ended		3 Months Ended			12 Months Ended
	Jun. 13, 2023	Aug. 11, 2022	Jun. 10, 2022	Mar. 01, 2022	Apr. 30, 2024	Sep. 30, 2022	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill							$ 79,828,000			$ 80,247,000
Revenue							31,636,000		$ 30,263,000
Net income							(25,198,000)		(22,963,000)	(58,625,000)	$ (25,557,000)
GridBeyond Limited [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Cash proceeds from sale of interest					$ 1,800,000
Minimum [Member]
Business Acquisition [Line Items]
Contingent earnout						$ 10,825,000
Broadbean Acquisition [Member]
Business Acquisition [Line Items]
Cash payment	$ 53,301,000
Tax deductible goodwill, acquisition	3,728,000
Goodwill	32,923,000
Property, equipment and improvements, net	343,000
Other non-current liabilities	6,618,000
Other assets	3,486,000
Total intangible assets	27,500,000
Deferred tax liability	3,741,000
Goodwill deductible for tax purposes	$ 3,728,000
Broadbean Acquisition [Member] | Maximum [Member]
Business Acquisition [Line Items]
Estimated useful lives	5 years
Broadbean Acquisition [Member] | Minimum [Member]
Business Acquisition [Line Items]
Estimated useful lives	4 years
Broadbean Acquisition [Member] | Developed Technology [Member]
Business Acquisition [Line Items]
Estimated useful lives	4 years
Total intangible assets	$ 10,300,000
VSL Acquisition [Member]
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition		Aug. 11, 2022
VocaliD [Member]
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition			Jun. 10, 2022
Cash payment								$ 1,000,000
March 2022 Acquisition [Member]
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition				Mar. 01, 2022
Business acquisition, percentage of ownership interests acquired				100%
Cash payment							$ 1,500,000		$ 1,500,000
March 2022 Acquisition [Member] | Maximum [Member]
Business Acquisition [Line Items]
Contingent earnout consideration				$ 4,500,000
Energy Divestiture [Member]
Business Acquisition [Line Items]
Disposal group including discontinued operation consideration								549,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]							Nonoperating Income (Expense)
Pre-tax Gain								$ 2,572,000
Energy Divestiture [Member] | GridBeyond Limited [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Cash proceeds from sale of interest					$ 1,800,000
Energy Divestiture [Member] | Series B Preferred Stock [Member]
Business Acquisition [Line Items]
Number of shares received from divestiture of business								4,160,644
Disposal group including discontinued operation consideration								$ 2,021,000
Stock Purchase Agreement [Member] | Broadbean Acquisition [Member]
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition	Jun. 13, 2023
Business acquisition, percentage of ownership interests acquired	100%
Business acquisition, name of acquired entity	Broadbean Technology Pty Ltd
Total consideration	$ 53,301,000
Cash payment	$ 53,301,000
Acquisition related expenses										$ 4,214,000

Business Combinations and Div_4

Business Combinations and Divestiture - Summary of Fair Value of Acquisition Consideration (Details) - USD ($) $ in Thousands		3 Months Ended
	Jun. 13, 2023	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Broadbean Acquisition [Member]
Business Acquisition [Line Items]
Cash consideration at closing	$ 53,301
VocaliD [Member]
Business Acquisition [Line Items]
Cash consideration at closing			$ 1,000
March 2022 Acquisition [Member]
Business Acquisition [Line Items]
Cash consideration at closing		$ 1,500		$ 1,500

Business Combinations and Div_5

Business Combinations and Divestiture - Summary of Allocation of Acquisition Consideration (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Jun. 13, 2023
Business Acquisition [Line Items]
Goodwill	$ 79,828	$ 80,247
Broadbean Acquisition [Member]
Business Acquisition [Line Items]
Cash			$ 3,033
Accounts receivable, net			7,817
Prepaid and other current assets			1,007
Property, equipment and improvements, net			343
Intangible assets			27,500
Other assets			3,486
Total assets acquired			43,186
Accounts payable			1,107
Deferred revenue			10,029
Other accrued liabilities			5,054
Other non-current liabilities			6,618
Deferred tax liability			3,741
Total liabilities assumed			22,808
Identifiable net assets acquired			20,378
Goodwill			32,923
Total purchase consideration			53,301
Broadbean Acquisition [Member] | As Reported
Business Acquisition [Line Items]
Cash			3,029
Accounts receivable, net			7,910
Prepaid and other current assets			1,008
Property, equipment and improvements, net			4,348
Intangible assets			27,500
Other assets			1,115
Total assets acquired			44,910
Accounts payable			1,369
Deferred revenue			10,134
Other accrued liabilities			4,565
Other non-current liabilities			7,565
Total liabilities assumed			23,633
Identifiable net assets acquired			21,277
Goodwill			31,947
Total purchase consideration			53,224
Broadbean Acquisition [Member] | Measurement Period Adjustment
Business Acquisition [Line Items]
Cash			4
Accounts receivable, net			(93)
Prepaid and other current assets			(1)
Property, equipment and improvements, net			(4,005)
Other assets			2,371
Total assets acquired			(1,724)
Accounts payable			(262)
Deferred revenue			(105)
Other accrued liabilities			489
Other non-current liabilities			(947)
Total liabilities assumed			(825)
Identifiable net assets acquired			(899)
Goodwill			976
Total purchase consideration			$ 77

Business Combinations and Div_6

Business Combinations and Divestiture - Summary of Valuation of Intangible Assets (Details) - Broadbean Acquisition [Member] $ in Thousands	Jun. 13, 2023 USD ($)
Business Acquisition [Line Items]
Total intangible assets	$ 27,500
Minimum [Member]
Business Acquisition [Line Items]
Estimated useful lives	4 years
Maximum [Member]
Business Acquisition [Line Items]
Estimated useful lives	5 years
Customer Relationships [Member]
Business Acquisition [Line Items]
Total intangible assets	$ 17,200
Estimated useful lives	5 years
Developed Technology [Member]
Business Acquisition [Line Items]
Total intangible assets	$ 10,300
Estimated useful lives	4 years

Business Combinations and Div_7

Business Combinations and Divestiture - Summary of Unaudited Proforma Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Business Combinations [Abstract]
Net revenue	$ 31,636	$ 38,559
Loss before provision for income taxes	(26,243)	(24,701)
Net loss	$ (25,198)	$ (24,072)

Debt - Additional Information (

Debt - Additional Information (Detail)		1 Months Ended		3 Months Ended		12 Months Ended
	Dec. 13, 2023 USD ($) $ / shares shares	Aug. 31, 2023 USD ($)	Nov. 30, 2021 USD ($) Days $ / shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($)	Nov. 16, 2021 $ / shares
Debt Instrument [Line Items]
Aggregate principal amount				$ 91,250,000
Common stock, par value | $ / shares				$ 0.001		$ 0.001
Convertible debt, if-converted value in excess of principal				$ 0
Payment for capped call transactions			$ 18,616,000
Initial cap price | $ / shares				$ 48.55
Premium over last reported sale price, percentage			75%
Sale price of common stock | $ / shares								$ 27.74
Strike price | $ / shares				$ 35.76
1.75% Convertible Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Aggregate principal amount			$ 201,250,000
Debt instrument, interest rate			1.75%	1.75%
Additional principal amount			$ 26,250,000
Debt instrument, frequency of periodic payment				semi-annually
Debt instrument, payment terms				is payable semi-annually in arrears on May 15 and November 15 of each year, beginning on May 15, 2022
Debt Instrument, maturity date, description				The Convertible Notes will mature on November 15, 2026, unless earlier converted, redeemed, or repurchased in accordance with the terms of the Convertible Notes.
Debt Instrument, maturity date				Nov. 15, 2026
Number of trading days (whether or not consecutive) | Days			20
Number of consecutive trading days | Days			30
Percentage of conversion price			130%
Debt instrument convertible principal amount			$ 1,000,000
Debt instrument convertible measurement period percentage			98%
Debt instrument, convertible, Date			May 15, 2026
Initial conversion rate			0.0272068
Initial conversion price | $ / shares			$ 36.76
Redemption date			Nov. 20, 2024
Percentage of conversion stock price, Redemption			130%
Debt instrument, Redeemable, Number of trading days | Days			20
Debt instrument, Redeemable, Number of consecutive trading days | Days			30
Redemption price, Percentage of principal amount to be redeemed			100%
Sinking fund			$ 0
Debt instrument repurchase price due to fundamental change			100%
Net proceeds from issuance of notes				$ 194,945,000
Debt issuance costs				6,304,000
Interest expense				$ 541,000	$ 833,000
Effective annual interest rate				2.42%	2.42%
Estimated fair value of convertible notes				$ 32,765,000
Unwinding of capped calls related to convertible notes repurchase						$ 0
Prior Credit Agreement
Debt Instrument [Line Items]
Aggregate principal amount	$ 0
Term Loan Facility [Member]
Debt Instrument [Line Items]
Interest expense				$ 4,057,000
Effective annual interest rate				31.30%
Term Loan Facility [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 77,500,000
Debt instrument, interest rate	3%
Consideration on convertible notes	$ 37,500,000
Debt instrument, percentage of principal amount amortized.	2.50%
Debt instrument, date of first required payment	Jun. 01, 2024
Debt instrument, minimum convertible principal amount required for prepayment in full	$ 30,000,000
Percentage of prepayment premium during second year	14%
Percentage of prepayment premium during third year	7%
Debt instrument, term	4 years
Percentage of prepayment premium in shares of common stock	10%
Gain (Loss) on Extinguishment of Debt	$ 30,000,000
Debt issuance costs	23,807,000
Amortization of initial discounts and issuance costs				$ 1,332,000
Repurchase of debt instrument	50,000,000
Unrestricted cash and cash equivalents required to maintain under covenant	15,000,000
Capitalized issuance costs	$ 3,120,000
Term Loan Facility [Member] | Commitment Letter [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Common stock, par value | $ / shares	$ 0.001
Term Loan Facility [Member] | Credit Parties [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, minimum net cash proceeds required for mandatory prepayments	$ 10,000,000
Term Loan Facility [Member] | Lenders [Member]
Debt Instrument [Line Items]
Shares of common stock purchased for issuance of warrants | shares				2,658,883
Common stock, par value | $ / shares	$ 0.001
Term Loan Facility [Member] | Lenders [Member] | Commitment Letter [Member]
Debt Instrument [Line Items]
Debt Instrument, maturity date	Dec. 12, 2028
Warrent exercise price | $ / shares	$ 2.576
Term Loan Facility [Member] | Lenders [Member] | Commitment Letter [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Warrent exercise price | $ / shares	$ 0.001
Term Loan Facility [Member] | Lenders [Member] | Minimum [Member]
Debt Instrument [Line Items]
Shares of common stock purchased for issuance of warrants | shares	3,008,540
Term Loan Facility [Member] | Lenders [Member] | Minimum [Member] | Commitment Letter [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Shares of common stock purchased for issuance of warrants | shares	3,008,540
Term Loan Facility [Member] | SOFR [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	8.50%
Debt Instrument Floor Interest Rate	3%
Alterna Capital Solutions, LLC | ACS Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Credit agreement term		3 years
Maximum borrowing capacity		$ 30,000,000
Line of credit facility collateral				domestic receivables and other assets as determined by ACS.
Credit facility interest rate description				The ACS Credit Facility bore interest at the greater of Prime rate plus 1% or 9.5%, and minimum annual interest of $250 if no funds are drawn under the ACS Credit Facility in a given year.
Interest rate		9.50%
Minimum annual interest amount on line of credit		$ 250,000
Early termination penalties				$ 0
Alterna Capital Solutions, LLC | ACS Credit Facility | Credit Agreement | Prime Rate [Member]
Debt Instrument [Line Items]
Interest rate		1%
2022 Repurchase Transaction [Member] | 1.75% Convertible Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Unwinding of capped calls related to convertible notes repurchase							$ 276,000
2022 Repurchase Transaction [Member] | 65 % Convertible Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							65%
Repurchase of debt instrument							$ 60,000,000
2023 Repurchase Transaction [Member]
Debt Instrument [Line Items]
Repurchase of debt instrument						$ 50,000,000
2023 Repurchase Transaction [Member] | Seventy Five Persentage Convertible Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate						75%

Debt - Schedule of Scheduled Pr

Debt - Schedule of Scheduled Principal Payments on Term Loan (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Long-Term Debt, Fiscal Year Maturity [Abstract]
2024	$ 5,813
2025	7,750
2026	7,750
2027	56,188
Total	$ 77,500

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Numerator
Net loss	$ (25,198)	$ (22,963)	$ (58,625)	$ (25,557)
Denominator
Weighted-average common shares outstanding	37,353,228	36,587,946
Denominator for basic net loss per share attributable to common stockholders	37,353,228	36,587,946
Denominator for diluted net loss per share attributable to common stockholders	37,353,228	36,587,946
Basic net loss per share	$ (0.67)	$ (0.63)
Diluted net loss per share	$ (0.67)	$ (0.63)

Net Loss Per Share - Effect of

Net Loss Per Share - Effect of Anti-dilutive Securities (Detail) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of Anti-dilutive Securities	17,027,255	15,095,406
Employee Stock Option, Restricted Stock Units and Performance Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of Anti-dilutive Securities	11,074,865	10,755,833
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of Anti-dilutive Securities	3,469,769	496,612
Common Stock Issuable in Connection with Convertible Senior Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of Anti-dilutive Securities	2,482,621	3,842,961

Financial Instruments - Schedul

Financial Instruments - Schedule of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Total Cash and Debt Securities	$ 90,733	$ 79,439
Total Fair Value, Cash and Debt Securities	90,733	79,439
Cash and cash equivalents	90,733	79,439
Cash [Member]
Schedule Of Available For Sale Securities [Line Items]
Cash and cash equivalents	90,733	79,439
Fair Value, Cash	$ 90,733	$ 79,439

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($)				1 Months Ended		3 Months Ended
	Dec. 13, 2023	Mar. 01, 2022	Sep. 14, 2021	Jul. 31, 2023	Sep. 30, 2022	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Nov. 16, 2021
Schedule Of Available For Sale Securities [Line Items]
Common stock, par value						$ 0.001		$ 0.001
Common stock issued						206,957	206,957
Contingent consideration, current						$ 500,000		$ 1,000,000
Sale price of common stock									$ 27.74
Impairment						$ 0
Common stock, shares outstanding						37,629,461		37,186,348
Other Noncurrent Assets [Member] | Level 2
Schedule Of Available For Sale Securities [Line Items]
Investment at fair value						$ 2,021,000		$ 2,021,000
Other Noncurrent Assets [Member] | Level 3 [Member]
Schedule Of Available For Sale Securities [Line Items]
Strategic investment						$ 2,750,000		$ 2,750,000
Pandologic Ltd [Member]
Schedule Of Available For Sale Securities [Line Items]
Business acquisition, effective date of acquisition			Sep. 14, 2021
Business acquisition, percentage of ownership interests acquired			100%
Business acquisition, name of acquired entity			PandoLogic, Ltd. (“PandoLogic”)
Business acquisition, date of acquisition agreement			Jul. 21, 2021
March 2022 Acquisition [Member]
Schedule Of Available For Sale Securities [Line Items]
Contingent compensation				$ 3,500,000
Business acquisition, effective date of acquisition		Mar. 01, 2022
Business acquisition, percentage of ownership interests acquired		100%
Stock Consideration [Member] | PandoLogic Merger Agreement [Member]
Schedule Of Available For Sale Securities [Line Items]
Sale price of common stock								$ 20.53
Term Loan Facility [Member] | Lenders [Member]
Schedule Of Available For Sale Securities [Line Items]
Shares of common stock purchased for issuance of warrants						2,658,883
Common stock, par value	$ 0.001
Warrants net settled						349,657
Common stock issued						206,957
Minimum [Member]
Schedule Of Available For Sale Securities [Line Items]
Contingent consideration					$ 10,825,000
Minimum [Member] | Term Loan Facility [Member] | Lenders [Member]
Schedule Of Available For Sale Securities [Line Items]
Shares of common stock purchased for issuance of warrants	3,008,540
Maximum [Member] | Pandologic Ltd [Member]
Schedule Of Available For Sale Securities [Line Items]
Contingent consideration, current			$ 65,000,000
Maximum [Member] | March 2022 Acquisition [Member]
Schedule Of Available For Sale Securities [Line Items]
Contingent consideration		$ 4,500,000

Financial Instruments - Sched_2

Financial Instruments - Schedule of Contingent Consideration Liabilities Current and Non-current Balances (Details) - Level 3 [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Contingent Consideration Liabilities [Line Items]
Fair Value beginning balance	$ 8,067
Changes in Fair Value	2,284
Amount Paid To Date	(8,718)
Fair Value ending balance	1,633
Contingent Consideration, Current [Member]
Contingent Consideration Liabilities [Line Items]
Fair Value beginning balance	8,067
Changes in Fair Value	1,651
Amount Paid To Date	(8,718)
Fair Value ending balance	1,000
Contingent Consideration, Noncurrent [Member]
Contingent Consideration Liabilities [Line Items]
Changes in Fair Value	633
Fair Value ending balance	$ 633

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying amount of goodwill	$ 79,828	$ 80,247

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Schedule of Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Finite Lived Intangible Assets [Line Items]
Goodwill, Beginning Balance	$ 80,247
Foreign currency translation/other	(419)
Goodwill, Ending Balance	$ 79,828

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Summary of Finite-Lived Intangible Assets Resulting from Business Acquisitions and Other Purchases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in years)	3 years
Gross Carrying Amount	$ 150,282	$ 150,282
Accumulated Amortization	(72,839)	(66,859)
Net Carrying Amount	$ 77,443	83,423
Software and Technology [Member]
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in years)	0 years
Gross Carrying Amount	$ 3,582	3,582
Accumulated Amortization	$ (3,582)	(3,582)
Licensed Technology [Member]
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in years)	0 years
Gross Carrying Amount	$ 500	500
Accumulated Amortization	$ (500)	(500)
Developed Technology [Member]
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in years)	1 year 6 months
Gross Carrying Amount	$ 44,100	44,100
Accumulated Amortization	(26,830)	(24,601)
Net Carrying Amount	$ 17,270	19,499
Customer and Supplier Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in years)	3 years 8 months 12 days
Gross Carrying Amount	$ 99,000	99,000
Accumulated Amortization	(39,977)	(36,323)
Net Carrying Amount	$ 59,023	62,677
Noncompete Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in years)	0 years
Gross Carrying Amount	$ 800	800
Accumulated Amortization	$ (800)	(800)
Trademarks and Trade Names [Member]
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in years)	2 years 9 months 18 days
Gross Carrying Amount	$ 2,300	2,300
Accumulated Amortization	(1,150)	(1,053)
Net Carrying Amount	$ 1,150	$ 1,247

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets, Net - Summary of Future Amortization of Finite-Lived Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024 (nine months)	$ 17,973
2025	21,427
2026	16,569
2027	13,541
2028	7,870
Thereafter	63
Net Carrying Amount	$ 77,443	$ 83,423

Consolidated Financial Statem_3

Consolidated Financial Statements Details - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	$ 90,733		$ 79,439
Depreciation Expense	1,511	$ 478
Property and equipment	6,631		6,796
Property and equipment, work in progress not yet placed in service	1,839
Depreciation of internal use software development cost	$ 695	$ 282
Effective tax rate	4%	1.20%
Foreign exchange gain (loss)	$ (413)	$ 1,160
Advertising Customers [Member]
Condensed Financial Statements, Captions [Line Items]
Cash received	$ 73,300		$ 44,481

Consolidated Financial Statem_4

Consolidated Financial Statements Details - Summary of Accounts Receivable,Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accounts receivable, gross	$ 46,503	$ 70,446
Less: allowance for expected credit losses	(754)	(1,180)
Accounts receivable, net	45,749	69,266
Managed Services [Member]
Accounts receivable, gross	25,748	38,477
Software Products & Services [Member]
Accounts receivable, gross	18,635	26,246
Other [Member]
Accounts receivable, gross	$ 2,120	$ 5,723

Consolidated Financial Statem_5

Consolidated Financial Statements Details - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Prepaid assets	$ 6,153	$ 5,538
Other receivables	1,473	1,805
Trade credits earned through barter transactions, current	6,724	6,427
Other current assets	1,494	687
Prepaid expenses and other current assets	$ 15,844	$ 14,457

Consolidated Financial Statem_6

Consolidated Financial Statements Details - Summary of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other Assets, Noncurrent Disclosure [Abstract]
Trade credits earned through barter transactions, non-current	$ 10,339	$ 10,682
Investments	4,771	4,771
Other non-current assets	4,797	4,398
Other assets	$ 19,907	$ 19,851

Consolidated Financial Statem_7

Consolidated Financial Statements Details - Summary of Property Equipment and Improvements, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and equipment	$ 6,631	$ 6,796
Internal use software development costs placed in service	9,298	8,226
Leasehold improvements	1,629	1,639
Property, equipment and improvements, gross	17,558	16,661
Less: accumulated depreciation	(8,393)	(8,005)
Property, equipment and improvements, net	$ 9,165	$ 8,656

Consolidated Financial Statem_8

Consolidated Financial Statements Details - Accounts Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Accounts payable — Managed Services	$ 13,640	$ 13,749
Accounts payable	36,588	32,756
Accounts Payable - Managed Services [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Accounts payable — Managed Services	18,179	11,797
Accounts Payable - Other [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Accounts payable — Other	$ 18,409	$ 20,959

Consolidated Financial Statem_9

Consolidated Financial Statements Details - Summary of Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accrued compensation	$ 4,625	$ 4,615
Taxes payable	4,713	5,425
Current portion of operating lease liabilities	$ 2,239	$ 2,348
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities
Accrued trade payables	$ 13,640	$ 13,749
Other	1,058	958
Other accrued liabilities	$ 26,275	$ 27,095

Consolidated Financial State_10

Consolidated Financial Statements Details - Summary of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	$ 31,636	$ 30,263
Commercial Enterprise [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	30,119	28,868
Public Sector [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	$ 1,517	$ 1,395

Consolidated Financial State_11

Consolidated Financial Statements Details - Summary of Presentation of Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue Presentation
Revenue	$ 31,636	$ 30,263
Commercial Enterprise [Member]
Revenue Presentation
Revenue	30,119	28,868
Public Sector [Member]
Revenue Presentation
Revenue	1,517	1,395
Software Products & Services [Member]
Revenue Presentation
Revenue	15,220	14,127
Software Products & Services [Member] | Commercial Enterprise [Member]
Revenue Presentation
Revenue	13,703	12,732
Software Products & Services [Member] | Public Sector [Member]
Revenue Presentation
Revenue	1,517	1,395
Advertising [Member]
Revenue Presentation
Revenue	10,975	10,535
Advertising [Member] | Commercial Enterprise [Member]
Revenue Presentation
Revenue	10,975	10,535
Licensing [Member]
Revenue Presentation
Revenue	5,441	5,601
Licensing [Member] | Commercial Enterprise [Member]
Revenue Presentation
Revenue	5,441	5,601
Total Managed Services [Member]
Revenue Presentation
Revenue	16,416	16,136
Total Managed Services [Member] | Commercial Enterprise [Member]
Revenue Presentation
Revenue	$ 16,416	$ 16,136

Consolidated Financial State_12

Consolidated Financial Statements Details - Schedule of Other Income (Expense) , Net (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Interest expense, net	$ (3,990)	$ (805)
Other	(413)	1,160
Other income (expense), net	$ (4,403)	$ 355

Leases, Commitments and Conti_3

Leases, Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands				3 Months Ended
	Aug. 11, 2022	Jun. 10, 2022	Mar. 01, 2022	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2023
Other Commitments [Line Items]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]				Other Assets, Noncurrent			Other Assets, Noncurrent
Current portion of operating lease liabilities				$ 2,239			$ 2,348
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]				Other Accrued Liabilities, Current			Other Accrued Liabilities, Current
Non-current portion of operating lease liabilities				$ 601			$ 308
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]				Other Liabilities, Noncurrent			Other Liabilities, Noncurrent
Operating lease, cash payments				$ 682		$ 635
Operating lease, weighted average remaining lease term				1 year 4 months 24 days
Operating lease, weighted average discount rate				8.40%
Sublease income				$ 277		277
March 2022 Acquisition [Member]
Other Commitments [Line Items]
Purchase consideration payment within ten days of first anniversary of acquisition				1,500
Purchase consideration payment within ten days of second anniversary of acquisition				1,500
Cash payment				1,500		1,500
Business acquisition, effective date of acquisition			Mar. 01, 2022
VocaliD [Member]
Other Commitments [Line Items]
Cash payment					$ 1,000
Business acquisition, effective date of acquisition		Jun. 10, 2022
Purchase consideration payments on first anniversary of acquisition				1,000
Purchase consideration payments on 18-month anniversary of acquisition				1,000
VSL Acquisition [Member]
Other Commitments [Line Items]
Business acquisition, effective date of acquisition	Aug. 11, 2022
Purchase consideration payments on 18-month anniversary of acquisition				300
Office Sublease [Member]
Other Commitments [Line Items]
Rent expense				638		$ 546
Minimum [Member]
Other Commitments [Line Items]
Operating lease right-of-use assets				2,058			$ 1,669
Current portion of operating lease liabilities				$ 2,239			$ 2,348

Leases, Commitments and Conti_4

Leases, Commitments and Contingencies - Summary of Future Minimum Lease Payments (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Less: current portion of operating lease liabilities	$ (2,239)	$ (2,348)
Non-current portion of operating lease liabilities	601	$ 308
Building Lease Agreement [Member]
Other Commitments [Line Items]
2024 (nine months)	2,185
2025	671
2026	206
Total future minimum lease payments, including short-term leases	3,062
Less: future minimum lease payments for short-term leases	(36)
Less: imputed interest	(186)
Present value of future minimum lease payments, excluding short-term leases	2,840
Less: current portion of operating lease liabilities	(2,239)
Non-current portion of operating lease liabilities	601
2024 (nine months)	931
Total sublease income	$ 931

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Class of Stock [Line Items]
Common stock issued in connection with warrant exercises	206,957	206,957
Common Stock [Member] | Pandologic Ltd [Member]
Class of Stock [Line Items]
Business acquisition, shares issued or issuable		135,800
Common Stock and Employee Stock Purchase Plan [Member]
Class of Stock [Line Items]
Shares issued in connection with stock option exercise		355,790

Stock Plans - Additional Inform

Stock Plans - Additional Information (Detail) - USD ($)				1 Months Ended	3 Months Ended
	Nov. 15, 2023	Apr. 22, 2023	Jan. 11, 2023	Jan. 31, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Class of Stock [Line Items]
Amount capitalized to internal-use software					$ 118,000	$ 134,000
Employee Stock Purchase Plan [Member]
Class of Stock [Line Items]
Common stock were purchased under ESPP					119,954
Accrued employee contributions					$ 160,000		$ 357,000
Timebased Stock Option [Member]
Class of Stock [Line Items]
Options granted					0	226,966
Restricted Stock Units [Member]
Class of Stock [Line Items]
Unrecognized cost of share-based compensation awards					$ 5,729,000
Cost of share-based compensation awards, recognition period					2 years 1 month 6 days
Common stock vesting					153,085
Performance-based Stock Options [Member]
Class of Stock [Line Items]
Total grant date fair value of stock options granted					$ 0	$ 0
Total grant date fair value of stock options vested					0
Aggregate intrinsic value of the options exercised					$ 0	5,000
Performance Stock Units [Member]
Class of Stock [Line Items]
Common stock granted				0
Performance Stock Units [Member] | Steel Holdings Consulting Agreement [Member] | Board of Directors Chairman [Member]
Class of Stock [Line Items]
Common stock granted			118,460
Common stock vesting	39,486	19,743
Performance Stock Units [Member] | Senior Executive PSUs [Member]
Class of Stock [Line Items]
Common stock granted					170,402
Shareholder return performance period					3 years
Performance period ending date					Dec. 31, 2025
Description of performance period					within 90 days of the end of the performance period ending December 31, 2025
Performance Stock Units [Member] | Senior Executive PSUs [Member] | Maximum [Member]
Class of Stock [Line Items]
Pecentage of revenue and net income targets increase (decrease)					20%
Performance Stock Units [Member] | Senior Executive PSUs [Member] | Executive Officer [Member] | Minimum [Member]
Class of Stock [Line Items]
Earning percentage of number of shares					0%
Performance Stock Units [Member] | Senior Executive PSUs [Member] | Executive Officer [Member] | Maximum [Member]
Class of Stock [Line Items]
Earning percentage of number of shares					200%
Stock Options [Member]
Class of Stock [Line Items]
Options granted					0
Cost of share-based compensation awards, recognition period					2 years 1 month 6 days
Total grant date fair value of stock options vested					$ 1,080,000	1,584,000
Unrecognized compensation expense related to stock options					4,194,000
Aggregate intrinsic value of the options exercised					$ 30,000	$ 10,000
Weighted Average Grant Date Fair Value, Granted						$ 4.21

Stock Plans - Schedule of Fair

Stock Plans - Schedule of Fair Value Assumptions (Detail) - Stock Options [Member]	3 Months Ended
	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 9 months 18 days
Expected volatility	91%
Risk-free interest rate	3.60%

Stock Plans - Summary of Fair V

Stock Plans - Summary of Fair Value Assumptions of Stock Purchase Plan (Detail) - Employee Stock Purchase Plan [Member]	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 months	6 months
Expected volatility, minimum	105%	71%
Risk-free interest rate, minimum	4.70%	0.10%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	2 years	2 years
Expected volatility, maximum	115%	101%
Risk-free interest rate, maximum	5.20%	4.80%

Stock Plans - Schedule of Stock

Stock Plans - Schedule of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 1,608	$ 3,917
Cost of Revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	(1)	20
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	176	176
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	532	1,542
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	901	2,179
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	830	2,168
Performance-based Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense		328
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	622	971
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 156	$ 450

Stock Plans - Schedule of Perfo

Stock Plans - Schedule of Performance Stock Unit Activity (Details) - Performance Stock Units [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares, Unvested, Beginning Balance | shares	229,633
Shares, Forfeited | shares	(59,231)
Shares, Unvested, Ending Balance | shares	170,402
Weighted Average Grant Date Fair Value, Unvested, Beginning Balance | $ / shares	$ 5.86
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	5.94
Weighted Average Grant Date Fair Value, Unvested, Ending Balance | $ / shares	$ 5.86

Stock Plans - Schedule of Restr

Stock Plans - Schedule of Restricted Stock Unit Activity (Detail) - Restricted Stock Units [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Unvested, Beginning Balance | shares	1,949,514
Shares, Granted | shares	3,000
Shares, Forfeited | shares	(186,560)
Shares, Vested | shares	(153,085)
Shares, Unvested, Ending Balance | shares	1,612,869
Weighted Average Grant Date Fair Value, Unvested, Beginning Balance | $ / shares	$ 5.4
Weighted Average Grant Date Fair Value, Granted | $ / shares	3.88
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	6.73
Weighted Average Grant Date Fair Value, Vested | $ / shares	7.3
Weighted Average Grant Date Fair Value, Unvested, Ending Balance | $ / shares	$ 5.01

Stock Plans - Schedule of Per_2

Stock Plans - Schedule of Performance-Based Stock Options Activity (Detail) - Performance-based Stock Options [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Unvested, Beginning Balance | shares	3,671,310
Options Expired | shares	(21,840)
Options, Outstanding, Ending Balance | shares	3,649,470
Options Exercisable at March 31, 2024 | shares	3,649,470
Weighted-Average Exercise Price, Unvested, Beginning Balance | $ / shares	$ 11.29
Weighted-Average Exercise Price, Options Expired | $ / shares	5.78
Weighted-Average Exercise Price, Outstanding, Ending Balance | $ / shares	11.32
Weighted-Average Exercise Price, Exercisable | $ / shares	$ 11.32
Weighted-Average Remaining Contractual Term, Outstanding	6 years 2 months 12 days
Weighted-Average Remaining Exercisable	6 years 2 months 12 days
Weighted-Average Aggregate Intrinsic Value | $	$ 1
Weighted-Average Aggregate Intrinsic Value, Exercisable | $	$ 1

Stock Plans - Schedule of Sto_2

Stock Plans - Schedule of Stock Option Activity (Detail) - Stock Options [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Outstanding, Beginning Balance | shares	5,506,374
Options Exercised | shares	(17,521)
Options Forfeited | shares	(153,353)
Options Expired | shares	(78,939)
Options, Outstanding, Ending Balance | shares	5,256,561
Options Exercisable at March 31, 2024 | shares	4,799,140
Weighted-Average Exercise Price, Outstanding, Beginning Balance | $ / shares	$ 13.81
Weighted-Average Exercise Price, Options Exercised | $ / shares	2.85
Weighted-Average Exercise Price, Options Forfeited | $ / shares	8.86
Weighted-Average Exercise Price, Options Expired | $ / shares	10.28
Weighted-Average Exercise Price, Outstanding, Ending Balance | $ / shares	14.04
Weighted-Average Exercise Price, Exercisable | $ / shares	$ 14.1
Weighted-Average Remaining Contractual Term, Outstanding	4 years 1 month 6 days
Weighted-Average Remaining Exercisable	3 years 8 months 12 days
Weighted-Average Aggregate Intrinsic Value | $	$ 1,120
Weighted-Average Aggregate Intrinsic Value, Exercisable | $	$ 1,041

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended
	Jul. 01, 2024	Jan. 24, 2024	Jan. 31, 2024	Mar. 31, 2024	Mar. 31, 2023
Related Party Transaction [Line Items]
Stock-based compensation expense				$ 1,608	$ 3,917
Performance Stock Units [Member]
Related Party Transaction [Line Items]
Performance stock units issued			0
Stock-based compensation expense					$ 328
Steel Holdings, LLC [Member]
Related Party Transaction [Line Items]
Monthly payment for technical advisory services		$ 50
Acceleration charge related to technical advisory services				1,484
Steel Holdings, LLC [Member] | Forecast [Member]
Related Party Transaction [Line Items]
Consideration for technical advisory services	$ 1,000
Related party [Member]
Related Party Transaction [Line Items]
Other liabilities				$ 0

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Thousands	1 Months Ended
	Apr. 30, 2024 USD ($)
Subsequent Event [Member] | GridBeyond [Member]
Subsequent Event [Line Items]
Sale of investment in GridBeyond for cash	$ 1,800

Uncategorized Items - veri-2024

Label	Element	Value
Deferred Revenue	us-gaap_DeferredRevenue	$ 13,415,000