Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Jul. 31, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | VERI | |
Entity Registrant Name | Veritone, Inc. | |
Entity Central Index Key | 1,615,165 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 18,322,543 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and cash equivalents | $ 52,692 | $ 29,545 |
Marketable securities | 25,526 | 39,598 |
Accounts receivable, net of allowance for doubtful accounts of $12 and $38, respectively | 11,583 | 7,691 |
Expenditures billable to clients | 5,063 | 4,163 |
Prepaid expenses and other current assets | 2,969 | 2,808 |
Total current assets | 97,833 | 83,805 |
Property, equipment and improvements, net | 3,365 | 680 |
Intangible assets, net | 2,611 | 3,154 |
Other assets | 1,214 | 919 |
Total assets | 105,023 | 88,558 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Accounts payable | 15,759 | 13,338 |
Accrued media payments | 7,944 | 5,999 |
Client advances | 4,625 | 3,477 |
Other accrued liabilities | 3,699 | 4,442 |
Total current liabilities | 32,027 | 27,256 |
Other liabilities | 473 | |
Total liabilities | 32,500 | 27,256 |
Commitments and contingencies (Note 8) | ||
Stockholders' equity | ||
Common stock, par value $0.001 per share; 75,000,000 shares authorized; 18,317,434 and 16,158,883 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively | 18 | 16 |
Additional paid-in capital | 209,308 | 170,728 |
Accumulated deficit | (136,686) | (109,307) |
Accumulated other comprehensive loss | (117) | (135) |
Total stockholders' equity | 72,523 | 61,302 |
Total liabilities and stockholders' equity | $ 105,023 | $ 88,558 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 12 | $ 38 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 18,317,434 | 16,158,883 |
Common stock, shares outstanding | 18,317,434 | 16,158,883 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Statement [Abstract] | ||||
Net revenues | $ 4,168 | $ 4,087 | $ 8,556 | $ 7,195 |
Cost of revenues | 820 | 336 | 1,384 | 532 |
Gross profit | 3,348 | 3,751 | 7,172 | 6,663 |
Operating expenses: | ||||
Sales and marketing | 5,142 | 3,414 | 10,890 | 6,013 |
Research and development | 5,146 | 2,883 | 9,674 | 6,147 |
General and administrative | 7,513 | 5,302 | 14,291 | 8,982 |
Total operating expenses | 17,801 | 11,599 | 34,855 | 21,142 |
Loss from operations | (14,453) | (7,848) | (27,683) | (14,479) |
Other income (expense), net | 133 | (13,746) | 316 | (12,960) |
Loss before provision for income taxes | (14,320) | (21,594) | (27,367) | (27,439) |
Provision for income taxes | 10 | 1 | 12 | 3 |
Net loss | (14,330) | (21,595) | (27,379) | (27,442) |
Accretion of redeemable convertible preferred stock | (3,397) | (4,470) | ||
Net loss attributable to common stockholders | $ (14,330) | $ (24,992) | $ (27,379) | $ (31,912) |
Net loss per share attributable to common stockholders: | ||||
Basic and diluted | $ (0.88) | $ (2.94) | $ (1.69) | $ (5.82) |
Weighted average shares outstanding attributable to common stockholders: | ||||
Basic and diluted | 16,314,236 | 8,491,391 | 16,192,569 | 5,484,379 |
Comprehensive loss: | ||||
Net loss | $ (14,330) | $ (21,595) | $ (27,379) | $ (27,442) |
Unrealized gain (loss) on marketable securities, net of income taxes | 61 | (2) | ||
Foreign currency translation adjustments, net of income taxes | 30 | 20 | ||
Total comprehensive loss | $ (14,239) | $ (21,595) | $ (27,361) | $ (27,442) |
Condensed Consolidated Stateme5
Condensed Consolidated Statement of Stockholders' Equity - 6 months ended Jun. 30, 2018 - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] |
Beginning balance at Dec. 31, 2017 | $ 61,302 | $ 16 | $ 170,728 | $ (109,307) | $ (135) |
Beginning balance, shares at Dec. 31, 2017 | 16,158,883 | ||||
Common stock offerings, net | 32,536 | $ 2 | 32,534 | ||
Common stock offerings, net, shares | 1,955,000 | ||||
Common stock issued under employee stock plans, net | 921 | 921 | |||
Common stock issued under employee stock plans, net, shares | 203,551 | ||||
Stock-based compensation expense | 5,125 | 5,125 | |||
Net loss | (27,379) | (27,379) | |||
Unrealized loss on marketable securities | (2) | (2) | |||
Foreign currency translation adjustments | 20 | 20 | |||
Ending balance at Jun. 30, 2018 | $ 72,523 | $ 18 | $ 209,308 | $ (136,686) | $ (117) |
Ending balance, shares at Jun. 30, 2018 | 18,317,434 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (27,379) | $ (27,442) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 828 | 119 |
Amortization of debt discounts and issuance costs | 3,740 | |
Costs of warrants issued | 207 | 5,790 |
Write-off of debt discounts and debt issuance costs at IPO | 10,132 | |
Change in fair value of warrant liability | 15 | (7,114) |
Provision for doubtful accounts | 22 | 67 |
Stock-based compensation expense | 5,125 | 1,903 |
Changes in assets and liabilities: | ||
Accounts receivable | (3,914) | (7,476) |
Expenditures billable to clients | (900) | (4,918) |
Prepaid expenses and other current assets | (367) | (1,303) |
Accounts payable | 2,421 | 6,042 |
Accrued media payments | 1,945 | 2,206 |
Client advances | 1,148 | 1,248 |
Other accrued liabilities | (966) | 529 |
Other liabilities | 474 | |
Net cash used in operating activities | (21,341) | (16,477) |
Cash flows from investing activities: | ||
Proceeds from sales of marketable securities | 14,000 | |
Capital expenditures | (2,899) | |
Intangible assets acquired | (70) | (30) |
Net cash provided by (used in) investing activities | 11,031 | (30) |
Cash flows from financing activities: | ||
Proceeds from common stock offerings, net | 32,536 | 33,199 |
Proceeds from exercise of Primary Warrant | 29,263 | |
Proceeds received under the Bridge Loan Agreement | 8,000 | |
Proceeds from issuances of stock under employee stock plans | 921 | 3 |
Debt issuance costs | (68) | |
Other | (56) | |
Net cash provided by financing activities | 33,457 | 70,341 |
Net increase in cash and cash equivalents | 23,147 | 53,834 |
Cash and cash equivalents, beginning of period | 29,545 | 12,078 |
Cash and cash equivalents, end of period | 52,692 | 65,912 |
Non-cash investing and financing activities: | ||
Conversion of convertible notes payable, including accrued interest, to common stock | 28,782 | |
Conversion of redeemable convertible preferred stock to common stock | 27,266 | |
Unpaid deferred public offering costs | $ 384 | $ 665 |
Description of Business
Description of Business | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Description of Business | NOTE 1. DESCRIPTION OF BUSINESS Description of Business Veritone, Inc., a Delaware corporation (“Veritone”) (together with its wholly owned subsidiaries, collectively, the “Company”), is a provider of artificial intelligence (“AI”) computing solutions. The Company has developed aiWARE TM best-of-breed In addition, the Company operates a full-service advertising agency. The Company’s expertise in media buying, planning and creative development, coupled with its proprietary technology platform, enables the Company to analyze the effectiveness of advertising in a way that is simple, scalable and trackable. |
Presentation and Summary of Sig
Presentation and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Presentation and Summary of Significant Accounting Policies | NOTE 2. PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Preparation 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 the representations of the Company’s management, who is responsible for their integrity and objectivity. The information included in this Form 10-Q 10-K 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 and recurring, necessary to fairly state its 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 and six month periods presented are unaudited. The December 31, 2017 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. 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 revenue recognition, allowance for doubtful accounts, and the valuation of stock awards and stock warrants. Actual results could differ from those estimates. Significant Accounting Policies Beginning in the first quarter of 2018, the Company adopted Accounting Standards Update (“ASU”) No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. There were no other material changes in the Company’s significant accounting policies from those disclosed in its Annual Report on Form 10-K Reclassifications Certain reclassifications have been made to prior year amounts for consistency and to enhance comparability with the current year’s financial statements presentation. There was no impact on total assets, total stockholders’ equity, accumulated deficit, or net loss resulting from these reclassifications. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09”), 2014-09 2014-09: No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations 2016-08”); No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing 2016-10”); No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients 2016-12”), In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) right-of-use right-of-use In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting |
Net Loss Per Share
Net Loss Per Share | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | NOTE 3. NET LOSS PER SHARE The following table presents the computation of basic and diluted net loss per share attributable to common stockholders: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Numerator Net loss $ (14,330 ) $ (21,595 ) $ (27,379 ) $ (27,442 ) Accretion of redeemable convertible preferred stock — (3,397 ) — (4,470 ) Net loss attributable to common stockholders $ (14,330 ) $ (24,992 ) $ (27,379 ) $ (31,912 ) Denominator Weighted-average common shares outstanding 16,438,897 8,666,147 16,324,431 5,679,024 Less: Weighted-average shares subject to repurchase (124,661 ) (174,756 ) (131,862 ) (194,645 ) Denominator for basic and diluted net loss per share attributable to common stockholders 16,314,236 8,491,391 16,192,569 5,484,379 Basic and diluted net loss per share attributable to common stockholders $ (0.88 ) $ (2.94 ) $ (1.69 ) $ (5.82 ) Potentially dilutive securities that were not included in the calculation of diluted net loss per share attributable to common stockholders because their effect would be anti-dilutive were as follows (in common equivalent shares): Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Common stock options and restricted stock units 4,947,896 2,697,361 4,826,523 1,682,804 Warrants to purchase common stock 1,214,104 2,381,530 1,167,249 2,165,872 6,162,000 5,078,891 5,993,772 3,848,676 |
Significant Customers And Conce
Significant Customers And Concentrations Of Credit Risk | 6 Months Ended |
Jun. 30, 2018 | |
Text Block [Abstract] | |
Significant Customers And Concentrations Of Credit Risk | NOTE 4. SIGNIFICANT CUSTOMERS AND CONCENTRATIONS OF CREDIT RISK The Company’s ten largest customers by revenue accounted for approximately 49.7% and 52.1% of its net revenues in the three and six months ended June 30, 2018, respectively. The Company’s ten largest customers by revenue accounted for approximately 65.7% and 67.2% of its net revenues in the three and six months ended June 30, 2017, respectively. The Company is potentially subject to concentrations of credit risk through its financial instruments, which consist primarily of cash and cash equivalents, marketable securities and accounts receivable. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. At times, such deposits may be in excess of insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company typically invests in highly-rated securities, and its investment policy generally limits the amounts that may be invested with any one issuer. The policy generally requires investments to be investment grade, with the primary objective of minimizing the potential risk of principal loss. |
Financial Instruments
Financial Instruments | 6 Months Ended |
Jun. 30, 2018 | |
Investments, All Other Investments [Abstract] | |
Financial Instruments | NOTE 5. 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, which is based on three levels of inputs, the first two of which are considered observable and the last unobservable, that may be used to measure fair value, is 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. The Company classifies its financial instruments within Level 1 or Level 2 of the fair value hierarchy on the basis of valuations using quoted market prices or alternate pricing sources and models utilizing market observable inputs, respectively. The Company’s money market funds are valued based on quoted prices for the specific securities in an active market and are therefore classified as Level 1. The Company’s government securities, commercial paper and corporate debt securities are valued on the basis of valuations provided by third-party pricing services, as derived from such services’ pricing models. As of June 30, 2018, the Company has not made any adjustments to the prices obtained from its third-party pricing providers. Cash and Cash Equivalents and Marketable Securities The Company’s money market funds and marketable securities are categorized as Level 1 and 2, respectively, within the fair value hierarchy. The following table shows the cost, gross unrealized losses and fair value, with a breakdown by significant investment category, of the Company’s cash and cash equivalents and marketable securities as of June 30, 2018: Cost Gross Fair Cash and Marketable Cash $ 11,034 $ — $ 11,034 $ 11,034 $ — Level 1: Money market funds 41,658 — 41,658 41,658 — Level 2: U.S. government securities 4,501 (13 ) 4,488 — 4,488 Commercial paper 997 (2 ) 995 — 995 Corporate debt securities 20,164 (121 ) 20,043 — 20,043 Subtotal 25,662 (136 ) 25,526 — 25,526 Total $ 78,354 $ (136 ) $ 78,218 $ 52,692 $ 25,526 As of June 30, 2018, the Company held securities with an aggregate fair value of $25.5 million that were in an unrealized loss position for less than 12 months. No securities have been in unrealized loss positions for greater than 12 months. Gross unrealized losses at June 30, 2018 represented temporary impairments on government securities, commercial paper and corporate debt securities related to multiple issuers and were primarily caused by fluctuations in U.S. interest rates. The Company may sell certain of its marketable securities prior to their stated maturities for strategic reasons including, but not limited to, anticipation of credit deterioration and duration management. As of June 30, 2018, the Company considered the declines in market value of its marketable securities to be temporary in nature. All of the Company’s marketable securities were due within 2 years of June 30, 2018. As of December 31, 2017, the Company’s cash and cash equivalents and marketable securities balances were as follows: Cost Gross Fair Cash and Marketable Cash $ 8,925 $ — $ 8,925 $ 8,925 $ — Level 1: Money market funds 20,620 — 20,620 20,620 — Level 2: U.S. government securities 4,505 (17 ) 4,488 — 4,488 Commercial paper 4,959 (5 ) 4,954 — 4,954 Corporate debt securities 30,268 (112 ) 30,156 — 30,156 Subtotal 39,732 (134 ) 39,598 — 39,598 Total $ 69,277 $ (134 ) $ 69,143 $ 29,545 $ 39,598 Stock Warrants All of the Company’s outstanding stock warrants are categorized as Level 3 within the fair value hierarchy. Stock warrants have been recorded at their fair value using either a probability weighted expected return 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. In 2016, in connection with the Investment Agreement between the Company and Acacia Research Corporation (“Acacia”) and the convertible secured promissory note issued by the Company to Acacia (the “Acacia Note”), the Company issued three four-year warrants (the “Acacia Note Warrants”) and a five-year warrant (the “Primary Warrant”). In March 2017, each of the Primary Warrant and the Acacia Note Warrants was amended to provide that the exercise prices thereof shall be equal to the lower of $13.6088 or the Company’s initial public offering (“IPO”) price per share. In May 2017, upon exercise of the Primary Warrant, the Company issued to Acacia a five-year warrant to purchase 809,400 shares of the Company’s common stock (the “10% Warrant”) at an exercise price of $13.6088. At issuance date, the fair value of the 10% Warrant under Level 3 measurement was $5,790. In April 2018, in connection with the advisory agreement between the Company and a financial advisory firm, the Company issued a five-year warrant to purchase up to 20,000 shares of the Company’s common stock (“April 2018 Warrant”). The April 2018 Warrant was fully vested and exercisable upon issuance and has an exercise price of $11.73 per share. The following table summarizes quantitative information with respect to the significant unobservable inputs that were used to value the April 2018 Warrant: April 6, 2018 Volatility 70 % Risk-free rate 2.58 % Term 5 years The following table represents a roll-forward of the fair value of the April 2018 Warrant, which was recorded within other accrued liabilities in the accompanying condensed consolidated balance sheet during the six months ended June 30, 2018: Balance, December 31, 2017 $ — Issuance of warrant 207 Change in fair value 15 Balance, June 30, 2018 $ 222 As of June 30, 2018, the total fair value of the April 2018 Warrant increased by $15 to $222. The expense relating to the April 2018 Warrant has been recorded to general and administrative expense in the Company’s consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2018. The following table summarizes quantitative information with respect to the significant unobservable inputs that were used to value the Company’s 10% Warrant: May 17, 2017 Volatility 70 % Risk-free rate 1.44 % Discount for lack of marketability 0 % There were no transfers between Level 1, Level 2 or Level 3 financial instruments in the six months ended June 30, 2018. |
Intangible Assets, Net
Intangible Assets, Net | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets, Net | NOTE 6. INTANGIBLE ASSETS, NET Intangible assets, net consisted of the following: As of June 30, December 31, 2018 2017 Acquired software and technology $ 3,074 $ 3,004 Capitalized software 471 471 Other 30 30 3,575 3,505 Less: accumulated amortization (964 ) (351 ) Intangible assets, net $ 2,611 $ 3,154 These definite-lived assets are being amortized over a period of three years. During the three and six months endedJune 30, 2018, the Company recorded amortization expense related to these definite-lived assets of $307 and $613, respectively. During the three and six months ended June 30, 2017, the Company recorded amortization expense related to these definite-lived assets of $48 and $96, respectively. The following table presents future amortization of the Company’s definite-lived intangible assets at June 30, 2018: As of June 30, 2018 2018 (6 months) $ 549 2019 1,035 2020 1,027 Total $ 2,611 |
Consolidated Financial Statemen
Consolidated Financial Statements Details | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidated Financial Statements Details | NOTE 7. CONSOLIDATED FINANCIAL STATEMENTS DETAILS Consolidated Balance Sheets Details Property, equipment and improvements, net consisted of the following: As of June 30, December 31, 2018 2017 Property and equipment $ 1,318 $ 378 Leasehold improvements 2,422 27 Construction in progress — 435 3,740 840 Less: accumulated depreciation (375 ) (160 ) Property, equipment and improvements, net $ 3,365 $ 680 The construction in progress balance at December 31, 2017 consisted primarily of expenditures related to the build out of office space at the Company’s headquarters, which was completed in March 2018. Depreciation expense was $167 and $215 for the three and six months ended June 30, 2018, respectively. Depreciation expense was $12 and $23 for the three and six months ended June 30, 2017, respectively. Other accrued liabilities were comprised of the following: As of June 30, December 31, 2018 2017 Accrued compensation and benefits $ 2,010 $ 3,117 Other 1,689 1,325 Total $ 3,699 $ 4,442 Consolidated Statement of Operations and Comprehensive Loss Details Net revenues for the periods presented were comprised of the following: Three Months Ended Six Months Ended 2018 2017 2018 2017 Media agency revenues $ 3,308 $ 3,739 $ 6,429 $ 6,638 AI platform revenues 860 348 2,127 557 Total net revenues $ 4,168 $ 4,087 $ 8,556 $ 7,195 During the three and six months ended June 30, 2018, the Company made $31,451 and $60,872, respectively, in gross media placements, of which $26,322 and $51,895, respectively, were billed directly to clients. Of the amounts billed directly to clients, $23,014 and $45,464 represented media-related costs netted against billings during the three and six months ended June 30, 2018, respectively. During the three and six months ended June 30, 2017, the Company made $31,243 and $57,485, respectively, in gross media placements, of which $28,784 and $48,207, respectively, were billed directly to clients. Of the amounts billed directly to clients, $25,045 and $41,569 represented media-related costs netted against billings during the three months ended June 30, 2017, respectively. Other income (expense), net for the periods presented were comprised of the following: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Interest income (expense), net $ 168 $ (1,880 ) $ 349 $ (4,234 ) Stock warrants issued — (5,790 ) — (5,790 ) Write-off — (10,132 ) — (10,132 ) Gain on fair value change of warrant liability — 3,996 — 7,114 Other (35 ) 60 (33 ) 82 Other income (expense), net $ 133 $ (13,746 ) $ 316 $ (12,960 ) Interest expense for the three and six months ended June 30, 2017 included amortization of deferred debt discounts and issuance costs related to the Company’s convertible notes payable of $1,686 and $3,740, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 8. COMMITMENTS AND CONTINGENCIES Employment Agreements In March 2017, the Company entered into a three-year employment agreement with Chad Steelberg, the Company’s Chief Executive Officer, pursuant to which the Company paid Mr. Steelberg’s salary by issuance of common stock at the end of each calendar quarter during the term of the agreement (following March 31, 2017). The number of shares of common stock issued at the end of each quarter was determined by dividing $125 by the fair market value (as defined in the agreement) of the Company’s common stock. In March 2018, the Compensation Committee of the Company’s Board of Directors and Mr. Steelberg agreed to amend the compensation terms of his employment agreement to provide that Mr. Steelberg will earn a base salary of $250 payable in cash, and Mr. Steelberg’s compensation no longer includes the issuance of common stock each quarter. 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 | 6 Months Ended |
Jun. 30, 2018 | |
Equity [Abstract] | |
Stockholders' Equity | NOTE 9. STOCKHOLDERS’ EQUITY Common Stock Offerings In June 2018, the Company completed an offering of its common stock. In connection with the offering, the Company sold an aggregate of 1,955,000 shares of common stock (which included the full exercise of the underwriters’ option to purchase additional shares) at $18.00 per share, for aggregate net proceeds of approximately $32,890 after deducting underwriting discounts and commissions and offering costs of approximately $2,300. In November 2017, the Company completed an offering of its common stock. In connection with the offering, the Company sold an aggregate of 1,121,250 shares of common stock (which included the full exercise of the underwriters’ option to purchase additional shares) at $23.00 per share, for aggregate net proceeds of approximately $23,789 after deducting underwriting discounts and commissions and offering costs of approximately $2,000. In May 2017, the Company completed its IPO of 2,500,000 shares of its common stock at a price to the public of $15.00 per share, pursuant to which the Company raised net proceeds of approximately $32,600, after deducting underwriting discounts and commissions and offering costs of approximately $4,900. Upon the completion of the IPO in May 2017, the outstanding $20,000 of principal and all accrued interest under the Acacia Note were converted into 1,523,746 shares of the Company’s common stock at a conversion price per share of $13.6088, and the Acacia Note Warrants became exercisable to purchase an aggregate of 154,311 shares of common stock at an exercise price per share of $13.6088. In addition, the Primary Warrant was automatically exercised in full at an exercise price per share of $13.6088, and the Company issued to Acacia 2,150,335 shares of common stock in exchange for cash proceeds of $29,263. The $8,000 of principal and all accrued interest outstanding under the Company’s $8,000 line of credit was automatically converted into 590,717 shares of common stock at a conversion price per share of $13.6088. In addition, all of the outstanding shares of Series A and Series B preferred stock were converted into an aggregate of 2,922,978 shares and 2,309,135 shares, respectively, of the Company’s common stock. Common Stock Warrants As of June 30, 2018 and December 31, 2017, the Company had outstanding warrants to purchase an aggregate of 1,297,151 and 1,524,573 shares of the Company’s common stock, respectively. In June 2018, a warrant to purchase 247,422 shares of the Company’s common stock, the vesting of which was conditioned upon achievement of certain performance goals under a sales agreement, was cancelled in connection with the termination of such agreement. |
Stock Plans
Stock Plans | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Plans | NOTE 10. STOCK PLANS 2018 Performance-Based Stock Incentive Plan In June 2018, the Company’s stockholders approved the Company’s 2018 Performance-Based Stock Incentive Plan (the “2018 Plan”), and approved grants of performance-based nonstatutory stock options (each, a “Performance Option”) to the Company’s Chief Executive Officer (the “CEO Award”) and President (the “President Award”), under the 2018 Plan. In May 2018, the CEO Award and the President Award had been approved by a special committee of the Board of Directors of the Company (the “Special Committee”), and the 2018 Plan had been approved by the Company’s Board of Directors, subject to stockholder approval. The 2018 Plan allows the Company to grant Performance Options to its executive officers and other employees as an incentive for them to remain in service with the Company and to further align their interests with the interests of the Company’s stockholders. A total of 4,200,000 shares of the Company’s common stock have been authorized for issuance under the 2018 Plan. The numbers of shares underlying the CEO Award and the President Award are 1,809,900 and 1,357,425, respectively. All Performance Options granted under the 2018 Plan will become exercisable in three equal tranches based on the achievement of specific market price goals for the Company’s common stock. For each tranche to become exercisable, the closing price per share of the Company’s common stock must meet or exceed the applicable stock price goal for a period of 30 consecutive trading days; this is referred to below as the Attainment Date. The exercise price of each of the CEO Award and the President Award is $21.25 per share, which was the closing market price of the Company’s common stock on the Nasdaq Global Market on May 4, 2018, the last trading day prior to the date on which the Special Committee approved such awards (which was not a trading day). Each Performance Option will have a term of ten years following the grant date, subject to earlier termination in the case of cessation of the awardee’s continued service with the Company, as further described in the 2018 Plan. The Company valued the CEO Award and the President Award using a Monte Carlo simulation model. The grant date of such awards for accounting purposes was June 29, 2018, the date that was such awards were approved by the Company’s stockholders. The following assumptions were used in the Monte Carlo simulation model for computing the grant date fair values of the CEO Award and the President Award: Grant date stock price $ 16.82 Dividend yield — % Risk-free interest rate 2.85 % Estimated volatility 73.00 % The fair value per share was determined for each of the three equal tranches of each award and is presented in the table below: Tranche 1 $ 9.22 Tranche 2 $ 10.05 Tranche 3 $ 9.50 The total fair value of such awards is $30,375 and is being recorded as stock-based compensation expense over the derived service periods. At June 30, 2018, the Company had stock-based awards outstanding under the following plans: the 2014 Stock Option/Stock Issuance Plan (the “2014 Plan”), the 2017 Stock Incentive Plan (the “2017 Plan”) and the 2018 Plan. Refer to the Company’s Annual Report on Form 10-K Stock-Based Compensation The Company’s stock-based compensation expense recognized for the periods presented was as follows: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Stock-based compensation expense by type of award: Restricted stock units $ 99 $ 375 $ 147 $ 451 Restricted stock awards 135 125 353 125 Performance-based stock options 53 — 53 — Stock options 2,246 1,278 4,282 1,327 Employee stock purchase plan 118 — 290 — Total $ 2,651 $ 1,778 $ 5,125 $ 1,903 Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Stock-based compensation expense by operating expense grouping: Sales and marketing $ 248 $ 116 $ 568 $ 155 Research and development 266 92 507 104 General and administrative 2,137 1,570 4,050 1,644 $ 2,651 $ 1,778 $ 5,125 $ 1,903 Restricted Stock The Company’s restricted stock activity for the six months ended June 30, 2018 was as follows: Shares Weighted Unvested at December 31, 2017 147,456 $ 6.30 Forfeited (1,975 ) $ 7.50 Vested (39,181 ) $ 5.91 Unvested at June 30, 2018 106,300 $ 6.42 At June 30, 2018, total unrecognized compensation cost related to restricted stock was $671, which is expected to be recognized over a weighted average period of 1.9 years. Restricted Stock Units The Company’s restricted stock unit activity for the six months ended June 30, 2018 was as follows: Shares Weighted Unvested at December 31, 2017 35,576 $ 14.76 Granted 42,350 $ 16.26 Vested (41,144 ) $ 14.75 Unvested at June 30, 2018 36,782 $ 16.50 As of June 30, 2018, total unrecognized compensation cost related to restricted stock units was $569, which is expected to be recognized over a weighted average period of one year. Stock Options The Company’s stock option activity for the six months ended June 30, 2018 was as follows: Weighted-Average Options Exercise Remaining Aggregate Outstanding at December 31, 2017 4,802,594 $ 13.89 9.17 years $ 44,974 Granted 3,772,666 $ 20.39 Exercised (121,158 ) $ 3.83 Forfeited (361,072 ) $ 17.03 Expired (1,425 ) $ 12.24 Outstanding at June 30, 2018 8,091,605 $ 16.93 9.23 years $ 14,237 Exercisable at June 30, 2018 2,266,950 $ 13.13 8.53 years $ 8,364 The aggregate intrinsic values in the table above represents the difference between the fair market value of the Company’s common stock and the average option exercise price of in-the-money Employee Stock Purchase Plan On January 31, 2018, a total of 35,812 shares of common stock were purchased under the Company’s Employee Stock Purchase Plan. As of June 30, 2018, accrued employee contributions for future purchases under the Employee Stock Purchase Plan totaled $498. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 11. SUBSEQUENT EVENTS On August 10, 2018, the Company’s subsidiary, Veritone One, Inc., entered into an agreement to acquire S Media Limited, doing business as Performance Bridge Media, a leading and long-standing podcast agency. This acquisition will expand the Company’s media agency offerings to include comprehensive podcast solutions. The consideration for the acquisition is $6,000, plus a contingent earn-out of up to $5,000 based on Performance Bridge Media’s revenues for calendar year 2018, of which 20% will be paid in cash and 80% will be paid in shares of the Company’s common stock. The transaction is expected to close in August 2018, subject to customary closing conditions. On August 13, 2018, the Company entered into a definitive agreement to acquire Wazee Digital, Inc., a leading provider of cloud-native video management and licensing services. This acquisition will expand the Company’s offerings to customers in the media and entertainment market, providing them with the ability to expand revenue opportunities from their existing media assets. The consideration for the acquisition is $15,000, of which 50% will be paid in cash and 50% will be paid in shares of the Company’s common stock. The transaction is expected to close in August 2018, subject to customary closing conditions. |
Presentation and Summary of S18
Presentation and Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Preparation | Basis of Presentation and Preparation 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 the representations of the Company’s management, who is responsible for their integrity and objectivity. The information included in this Form 10-Q 10-K 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 and recurring, necessary to fairly state its 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 and six month periods presented are unaudited. The December 31, 2017 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. |
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 revenue recognition, allowance for doubtful accounts, and the valuation of stock awards and stock warrants. Actual results could differ from those estimates. |
Significant Accounting Policies | Significant Accounting Policies Beginning in the first quarter of 2018, the Company adopted Accounting Standards Update (“ASU”) No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. There were no other material changes in the Company’s significant accounting policies from those disclosed in its Annual Report on Form 10-K |
Reclassifications | Reclassifications Certain reclassifications have been made to prior year amounts for consistency and to enhance comparability with the current year’s financial statements presentation. There was no impact on total assets, total stockholders’ equity, accumulated deficit, or net loss resulting from these reclassifications. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09”), 2014-09 2014-09: No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations 2016-08”); No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing 2016-10”); No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients 2016-12”), In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) right-of-use right-of-use In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 attributable to common stockholders: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Numerator Net loss $ (14,330 ) $ (21,595 ) $ (27,379 ) $ (27,442 ) Accretion of redeemable convertible preferred stock — (3,397 ) — (4,470 ) Net loss attributable to common stockholders $ (14,330 ) $ (24,992 ) $ (27,379 ) $ (31,912 ) Denominator Weighted-average common shares outstanding 16,438,897 8,666,147 16,324,431 5,679,024 Less: Weighted-average shares subject to repurchase (124,661 ) (174,756 ) (131,862 ) (194,645 ) Denominator for basic and diluted net loss per share attributable to common stockholders 16,314,236 8,491,391 16,192,569 5,484,379 Basic and diluted net loss per share attributable to common stockholders $ (0.88 ) $ (2.94 ) $ (1.69 ) $ (5.82 ) |
Effect of Anti-dilutive Securities | Potentially dilutive securities that were not included in the calculation of diluted net loss per share attributable to common stockholders because their effect would be anti-dilutive were as follows (in common equivalent shares): Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Common stock options and restricted stock units 4,947,896 2,697,361 4,826,523 1,682,804 Warrants to purchase common stock 1,214,104 2,381,530 1,167,249 2,165,872 6,162,000 5,078,891 5,993,772 3,848,676 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Schedule of Cash and Available-For-Sale Securities' Cost, Gross Unrealized Losses and Fair Value by Significant Investment Category | The following table shows the cost, gross unrealized losses and fair value, with a breakdown by significant investment category, of the Company’s cash and cash equivalents and marketable securities as of June 30, 2018: Cost Gross Fair Cash and Marketable Cash $ 11,034 $ — $ 11,034 $ 11,034 $ — Level 1: Money market funds 41,658 — 41,658 41,658 — Level 2: U.S. government securities 4,501 (13 ) 4,488 — 4,488 Commercial paper 997 (2 ) 995 — 995 Corporate debt securities 20,164 (121 ) 20,043 — 20,043 Subtotal 25,662 (136 ) 25,526 — 25,526 Total $ 78,354 $ (136 ) $ 78,218 $ 52,692 $ 25,526 As of December 31, 2017, the Company’s cash and cash equivalents and marketable securities balances were as follows: Cost Gross Fair Cash and Marketable Cash $ 8,925 $ — $ 8,925 $ 8,925 $ — Level 1: Money market funds 20,620 — 20,620 20,620 — Level 2: U.S. government securities 4,505 (17 ) 4,488 — 4,488 Commercial paper 4,959 (5 ) 4,954 — 4,954 Corporate debt securities 30,268 (112 ) 30,156 — 30,156 Subtotal 39,732 (134 ) 39,598 — 39,598 Total $ 69,277 $ (134 ) $ 69,143 $ 29,545 $ 39,598 |
Reconciliation of Level 3 Measurement of Company's April 2018 Warrant | The following table represents a roll-forward of the fair value of the April 2018 Warrant, which was recorded within other accrued liabilities in the accompanying condensed consolidated balance sheet during the six months ended June 30, 2018: Balance, December 31, 2017 $ — Issuance of warrant 207 Change in fair value 15 Balance, June 30, 2018 $ 222 |
April 2018 Warrant [Member] | |
Summary of Quantitative Information with Respect to Significant Unobservable Inputs | The following table summarizes quantitative information with respect to the significant unobservable inputs that were used to value the April 2018 Warrant: April 6, 2018 Volatility 70 % Risk-free rate 2.58 % Term 5 years |
10% Warrant [Member] | |
Summary of Quantitative Information with Respect to Significant Unobservable Inputs | The following table summarizes quantitative information with respect to the significant unobservable inputs that were used to value the Company’s 10% Warrant: May 17, 2017 Volatility 70 % Risk-free rate 1.44 % Discount for lack of marketability 0 % |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Intangible Assets, Net | Intangible assets, net consisted of the following: As of June 30, December 31, 2018 2017 Acquired software and technology $ 3,074 $ 3,004 Capitalized software 471 471 Other 30 30 3,575 3,505 Less: accumulated amortization (964 ) (351 ) Intangible assets, net $ 2,611 $ 3,154 |
Summary of Future Estimated Annual Amortization Expense | The following table presents future amortization of the Company’s definite-lived intangible assets at June 30, 2018: As of June 30, 2018 2018 (6 months) $ 549 2019 1,035 2020 1,027 Total $ 2,611 |
Consolidated Financial Statem22
Consolidated Financial Statements Details (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Property Equipment and Improvements, Net | Property, equipment and improvements, net consisted of the following: As of June 30, December 31, 2018 2017 Property and equipment $ 1,318 $ 378 Leasehold improvements 2,422 27 Construction in progress — 435 3,740 840 Less: accumulated depreciation (375 ) (160 ) Property, equipment and improvements, net $ 3,365 $ 680 |
Summary of Other Accrued Liabilities | Other accrued liabilities were comprised of the following: As of June 30, December 31, 2018 2017 Accrued compensation and benefits $ 2,010 $ 3,117 Other 1,689 1,325 Total $ 3,699 $ 4,442 |
Summary of Net Revenues | Net revenues for the periods presented were comprised of the following: Three Months Ended Six Months Ended 2018 2017 2018 2017 Media agency revenues $ 3,308 $ 3,739 $ 6,429 $ 6,638 AI platform revenues 860 348 2,127 557 Total net revenues $ 4,168 $ 4,087 $ 8,556 $ 7,195 |
Schedule of Other Income (Expense), Net | Other income (expense), net for the periods presented were comprised of the following: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Interest income (expense), net $ 168 $ (1,880 ) $ 349 $ (4,234 ) Stock warrants issued — (5,790 ) — (5,790 ) Write-off — (10,132 ) — (10,132 ) Gain on fair value change of warrant liability — 3,996 — 7,114 Other (35 ) 60 (33 ) 82 Other income (expense), net $ 133 $ (13,746 ) $ 316 $ (12,960 ) |
Stock Plans (Tables)
Stock Plans (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Summary of Assumptions Used for Computing Grant Date Fair Values of CEO Award and President Award | The following assumptions were used in the Monte Carlo simulation model for computing the grant date fair values of the CEO Award and the President Award: Grant date stock price $ 16.82 Dividend yield — % Risk-free interest rate 2.85 % Estimated volatility 73.00 % |
Summary of Fair Value Per Share Determined for Each of Three Equal Tranches of Award | The fair value per share was determined for each of the three equal tranches of each award and is presented in the table below: Tranche 1 $ 9.22 Tranche 2 $ 10.05 Tranche 3 $ 9.50 |
Schedule of Stock-based Compensation Expense | The Company’s stock-based compensation expense recognized for the periods presented was as follows: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Stock-based compensation expense by type of award: Restricted stock units $ 99 $ 375 $ 147 $ 451 Restricted stock awards 135 125 353 125 Performance-based stock options 53 — 53 — Stock options 2,246 1,278 4,282 1,327 Employee stock purchase plan 118 — 290 — Total $ 2,651 $ 1,778 $ 5,125 $ 1,903 Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Stock-based compensation expense by operating expense grouping: Sales and marketing $ 248 $ 116 $ 568 $ 155 Research and development 266 92 507 104 General and administrative 2,137 1,570 4,050 1,644 $ 2,651 $ 1,778 $ 5,125 $ 1,903 |
Schedule of Restricted Stock Activity | The Company’s restricted stock activity for the six months ended June 30, 2018 was as follows: Shares Weighted Unvested at December 31, 2017 147,456 $ 6.30 Forfeited (1,975 ) $ 7.50 Vested (39,181 ) $ 5.91 Unvested at June 30, 2018 106,300 $ 6.42 |
Schedule of Stock Option Activity | The Company’s stock option activity for the six months ended June 30, 2018 was as follows: Weighted-Average Options Exercise Remaining Aggregate Outstanding at December 31, 2017 4,802,594 $ 13.89 9.17 years $ 44,974 Granted 3,772,666 $ 20.39 Exercised (121,158 ) $ 3.83 Forfeited (361,072 ) $ 17.03 Expired (1,425 ) $ 12.24 Outstanding at June 30, 2018 8,091,605 $ 16.93 9.23 years $ 14,237 Exercisable at June 30, 2018 2,266,950 $ 13.13 8.53 years $ 8,364 |
Restricted Stock Units [Member] | |
Schedule of Restricted Stock Activity | The Company’s restricted stock unit activity for the six months ended June 30, 2018 was as follows: Shares Weighted Unvested at December 31, 2017 35,576 $ 14.76 Granted 42,350 $ 16.26 Vested (41,144 ) $ 14.75 Unvested at June 30, 2018 36,782 $ 16.50 |
Net Income (Loss) Per Share - C
Net Income (Loss) Per Share - Computation of Basic and Diluted Net Loss Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Numerator | ||||
Net loss | $ (14,330) | $ (21,595) | $ (27,379) | $ (27,442) |
Accretion of redeemable convertible preferred stock | (3,397) | (4,470) | ||
Net loss attributable to common stockholders | $ (14,330) | $ (24,992) | $ (27,379) | $ (31,912) |
Denominator | ||||
Weighted-average common shares outstanding | 16,438,897 | 8,666,147 | 16,324,431 | 5,679,024 |
Less: Weighted-average shares subject to repurchase | (124,661) | (174,756) | (131,862) | (194,645) |
Denominator for basic and diluted net loss per share attributable to common stockholders | 16,314,236 | 8,491,391 | 16,192,569 | 5,484,379 |
Basic and diluted net loss per share attributable to common stockholders | $ (0.88) | $ (2.94) | $ (1.69) | $ (5.82) |
Net Income (Loss) Per Share - E
Net Income (Loss) Per Share - Effect of Anti-dilutive Securities (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Effect of Anti-dilutive Securities | 6,162,000 | 5,078,891 | 5,993,772 | 3,848,676 |
Employee Stock Option and Restricted Stock Units [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Effect of Anti-dilutive Securities | 4,947,896 | 2,697,361 | 4,826,523 | 1,682,804 |
Warrant [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Effect of Anti-dilutive Securities | 1,214,104 | 2,381,530 | 1,167,249 | 2,165,872 |
Significant Customers And Con26
Significant Customers And Concentrations Of Credit Risk - Additional Information (Detail) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member] - Customers | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Concentrations Of Credit Risk And Major Customers Revenue [Line Items] | ||||
Concentration risk percentage | 49.70% | 65.70% | 52.10% | 67.20% |
Number of major customers | 10 |
Financial Instruments - Schedul
Financial Instruments - Schedule of Cash and Available-For-Sale Securities' Cost, Gross Unrealized Losses and Fair Value by Significant Investment Category (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||||
Cost | $ 78,354 | $ 69,277 | ||
Gross Unrealized Losses | (136) | (134) | ||
Fair Value | 78,218 | 69,143 | ||
Cash and cash equivalents | 52,692 | 29,545 | $ 65,912 | $ 12,078 |
Marketable securities | 25,526 | 39,598 | ||
Cash [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Cost | 11,034 | 8,925 | ||
Fair Value | 11,034 | 8,925 | ||
Cash and cash equivalents | 11,034 | 8,925 | ||
Level 1 [Member] | Money Market Funds [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Cost | 41,658 | 20,620 | ||
Fair Value | 41,658 | 20,620 | ||
Cash and cash equivalents | 41,658 | 20,620 | ||
Level 2 [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Cost | 25,662 | 39,732 | ||
Gross Unrealized Losses | (136) | (134) | ||
Fair Value | 25,526 | 39,598 | ||
Marketable securities | 25,526 | 39,598 | ||
U.S. Government Securities [Member] | Level 2 [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Cost | 4,501 | 4,505 | ||
Gross Unrealized Losses | (13) | (17) | ||
Fair Value | 4,488 | 4,488 | ||
Marketable securities | 4,488 | 4,488 | ||
Commercial Papers [Member] | Level 2 [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Cost | 997 | 4,959 | ||
Gross Unrealized Losses | (2) | (5) | ||
Fair Value | 995 | 4,954 | ||
Marketable securities | 995 | 4,954 | ||
Corporate Debt Securities [Member] | Level 2 [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Cost | 20,164 | 30,268 | ||
Gross Unrealized Losses | (121) | (112) | ||
Fair Value | 20,043 | 30,156 | ||
Marketable securities | $ 20,043 | $ 30,156 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) | Jun. 30, 2018 | Apr. 30, 2018 | May 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||||||
Aggregate fair value held securities unrealized loss position for less than 12 months | $ 25,500,000 | $ 25,500,000 | ||||
Aggregate fair value held securities unrealized loss position for greater than 12 months | $ 0 | $ 0 | ||||
Marketable securities maturity period | 2 years | |||||
Warrants to purchase common stock | 1,297,151 | 1,297,151 | 1,524,573 | |||
Change in fair value of warrant liability | $ 15,000 | $ (7,114,000) | ||||
Financial instruments fair value transfers between Level 1, Level 2 or Level 3 | $ 0 | 0 | ||||
April 2018 Warrant [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Warrants maturity period | 5 years | |||||
Warrant exercise price | $ 11.73 | |||||
Warrants to purchase common stock | 20,000 | |||||
Convertible Notes Payable [Member] | Acacia [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Number of warrants issued | 3 | |||||
Warrants maturity period | 4 years | |||||
Primary Warrant [Member] | Acacia [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Warrants maturity period | 5 years | |||||
Primary Warrant [Member] | Acacia [Member] | Initial Public Offering [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Warrant exercise price | $ 13.6088 | |||||
Amended Primary and Acacia Note Warrants [Member] | Initial Public Offering [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Warrant exercise price | $ 13.6088 | |||||
10% Warrant [Member] | Acacia [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Warrants maturity period | 5 years | |||||
Warrant exercise price | $ 13.6088 | |||||
Warrants to purchase common stock | 809,400 | |||||
10% Warrant [Member] | Acacia [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Fair value of warrant | $ 5,790,000 | |||||
April 2018 Warrant [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Fair value of warrant | 222,000 | $ 222,000 | ||||
Change in fair value of warrant liability | $ 15,000 |
Financial Instruments - Summary
Financial Instruments - Summary of Quantitative Information with Respect to Significant Unobservable Inputs (Detail) | Apr. 06, 2018 | May 31, 2017 |
April 2018 Warrant [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Volatility | 70.00% | |
Risk-free rate | 2.58% | |
Term | 5 years | |
10% Warrant [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Volatility | 70.00% | |
Risk-free rate | 1.44% | |
Discount for lack of marketability | 0.00% |
Financial Instruments - Reconci
Financial Instruments - Reconciliation of Level 3 Measurement of Company's April 2018 Warrant (Detail) - April 2018 Warrant [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Issuance of warrant | $ 207 |
Change in fair value | 15 |
Ending, Balance | $ 222 |
Intangible Assets, Net - Summar
Intangible Assets, Net - Summary of Intangible Assets, Net (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | $ 3,575 | $ 3,505 |
Less: accumulated amortization | (964) | (351) |
Intangible assets, net | 2,611 | 3,154 |
Acquired Software and Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | 3,074 | 3,004 |
Capitalized Software [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | 471 | 471 |
Other [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | $ 30 | $ 30 |
Intangible Assets, Net - Additi
Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||||
Definite-lived assets amortization period | 3 years | |||
Amortization expense of definite-lived assets | $ 307 | $ 48 | $ 613 | $ 96 |
Intangible Assets - Summary of
Intangible Assets - Summary of Future Estimated Annual Amortization Expense (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
2018 (6 months) | $ 549 | |
2,019 | 1,035 | |
2,020 | 1,027 | |
Intangible assets, net | $ 2,611 | $ 3,154 |
Consolidated Financial Statem34
Consolidated Financial Statements Details - Summary of Property Equipment and Improvements, Net (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Abstract] | ||
Property and equipment | $ 1,318 | $ 378 |
Leasehold improvements | 2,422 | 27 |
Construction in progress | 435 | |
Property, equipment and improvements, gross | 3,740 | 840 |
Less: accumulated depreciation | (375) | (160) |
Property, equipment and improvements, net | $ 3,365 | $ 680 |
Consolidated Financial Statem35
Consolidated Financial Statements Details - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Condensed Financial Statements, Captions [Line Items] | ||||
Depreciation Expense | $ 167 | $ 12 | $ 215 | $ 23 |
Gross media placements | 31,451 | 31,243 | 60,872 | 57,485 |
Cost of revenues | 820 | 336 | 1,384 | 532 |
Amortization of deferred debt discounts and issuance costs | 3,740 | |||
Convertible Notes Payable [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Amortization of deferred debt discounts and issuance costs | 1,686 | 3,740 | ||
Billed Revenues [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Gross media placements | 26,322 | 28,784 | 51,895 | 48,207 |
Netted Against Billings [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cost of revenues | $ 23,014 | $ 25,045 | $ 45,464 | $ 41,569 |
Consolidated Financial Statem36
Consolidated Financial Statements Details - Summary of Other Accrued Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Accrued Liabilities and Other Liabilities [Abstract] | ||
Accrued compensation and benefits | $ 2,010 | $ 3,117 |
Other | 1,689 | 1,325 |
Total | $ 3,699 | $ 4,442 |
Consolidated Financial Statem37
Consolidated Financial Statements Details - Summary of Net Revenues (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Total net revenues | $ 4,168 | $ 4,087 | $ 8,556 | $ 7,195 |
Media Agency Revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total net revenues | 3,308 | 3,739 | 6,429 | 6,638 |
AI Platform Revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total net revenues | $ 860 | $ 348 | $ 2,127 | $ 557 |
Consolidated Financial Statem38
Consolidated Financial Statements Details - Schedule of Other Income (Expense), Net (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Other Income and Expenses [Abstract] | ||||
Interest income (expense), net | $ 168 | $ (1,880) | $ 349 | $ (4,234) |
Stock warrants issued | (5,790) | (5,790) | ||
Write-off of deferred debt discounts and issuance costs | (10,132) | (10,132) | ||
Gain on fair value change of warrant liability | 3,996 | 7,114 | ||
Other | (35) | 60 | (33) | 82 |
Other income (expense), net | $ 133 | $ (13,746) | $ 316 | $ (12,960) |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - Chad Steelberg [Member] - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended |
Mar. 31, 2017 | Mar. 31, 2018 | |
Other Commitments [Line Items] | ||
Estimated common stock calculated value | $ 125 | |
Annual salary under agreement | $ 250 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Nov. 30, 2017 | May 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Class of Stock [Line Items] | ||||||
Net proceeds from stock issuance | $ 32,536 | $ 33,199 | ||||
Warrants outstanding | 1,297,151 | 1,297,151 | 1,524,573 | |||
Warrants canceled | 247,422 | |||||
Follow-on Offering [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common stock shares issued | 1,955,000 | 1,121,250 | ||||
Share price | $ 18 | $ 23 | $ 18 | |||
Net proceeds from stock issuance | $ 32,890 | $ 23,789 | ||||
Stock issuance costs | $ 2,300 | $ 2,000 | ||||
Initial Public Offering [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common stock shares issued | 2,500,000 | |||||
Share price | $ 15 | |||||
Net proceeds from stock issuance | $ 32,600 | |||||
Stock issuance costs | $ 4,900 | |||||
Series A Redeemable Convertible Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Shares converted to common stock | 2,922,978 | |||||
Series B Redeemable Convertible Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Shares converted to common stock | 2,309,135 | |||||
Acacia [Member] | Initial Public Offering [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common stock shares issued | 2,150,335 | |||||
Net proceeds from stock issuance | $ 29,263 | |||||
Acacia [Member] | Line of Credit [Member] | Initial Public Offering [Member] | ||||||
Class of Stock [Line Items] | ||||||
Debt instrument outstanding balance | $ 8,000 | |||||
Debt instrument converted to common stock | 590,717 | |||||
Conversion price per share | $ 13.6088 | |||||
Acacia [Member] | Primary Warrant [Member] | Initial Public Offering [Member] | ||||||
Class of Stock [Line Items] | ||||||
Issuance of stock due to warrants exercise | 154,311 | |||||
Warrants exercise price per share | $ 13.6088 | |||||
Acacia [Member] | Convertible Notes Payable [Member] | Initial Public Offering [Member] | ||||||
Class of Stock [Line Items] | ||||||
Debt instrument outstanding balance | $ 20,000 | |||||
Debt instrument converted to common stock | 1,523,746 | |||||
Conversion price per share | $ 13.6088 |
Stock Plans - Additional Inform
Stock Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Jun. 29, 2018 | Jan. 31, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 |
Class of Stock [Line Items] | |||||
Accrued employee contributions | $ 2,010 | $ 3,117 | |||
2014 Plan Stock Options/Stock Issuance Plan and 2017 Stock Incentive Plan [Member] | |||||
Class of Stock [Line Items] | |||||
Options exercise price | $ 20.39 | ||||
Unrecognized compensation expense related to stock options | $ 53,272 | ||||
Employee Stock Purchase Plan [Member] | |||||
Class of Stock [Line Items] | |||||
Common stock granted | 35,812 | ||||
Accrued employee contributions | $ 498 | ||||
2018 Performance- Based Stock Incentive Plan [Member] | |||||
Class of Stock [Line Items] | |||||
Number of shares authorized for issuance | 4,200,000 | ||||
Total grant date fair value of stock options vested | $ 30,375 | ||||
2018 Performance- Based Stock Incentive Plan [Member] | Chad Steelberg and Ryan Steelberg [Member] | |||||
Class of Stock [Line Items] | |||||
Options exercise Period | 30 days | ||||
Options exercise price | $ 21.25 | ||||
Restricted Stock [Member] | 2014 Plan Stock Options/Stock Issuance Plan and 2017 Stock Incentive Plan [Member] | |||||
Class of Stock [Line Items] | |||||
Unrecognized cost of share-based compensation awards | $ 671 | ||||
Cost of share-based compensation awards, recognition period | 1 year 10 months 24 days | ||||
Restricted Stock Units [Member] | 2014 Plan Stock Options/Stock Issuance Plan and 2017 Stock Incentive Plan [Member] | |||||
Class of Stock [Line Items] | |||||
Unrecognized cost of share-based compensation awards | $ 569 | ||||
Cost of share-based compensation awards, recognition period | 1 year | ||||
Stock Options [Member] | |||||
Class of Stock [Line Items] | |||||
Total grant date fair value of stock options vested | $ 4,626 | $ 572 | |||
Weighted Average Grant Date Fair Value, Granted | $ 9.73 | $ 8.91 | |||
Aggregate intrinsic value of the options exercised | $ 1,698 | $ 15 | |||
Stock Options [Member] | 2014 Plan Stock Options/Stock Issuance Plan and 2017 Stock Incentive Plan [Member] | |||||
Class of Stock [Line Items] | |||||
Cost of share-based compensation awards, recognition period | 3 years 3 months 18 days | ||||
Performance-based Stock Options [Member] | 2018 Performance- Based Stock Incentive Plan [Member] | Chad Steelberg [Member] | |||||
Class of Stock [Line Items] | |||||
Common stock granted | 1,809,900 | ||||
Performance-based Stock Options [Member] | 2018 Performance- Based Stock Incentive Plan [Member] | Ryan Steelberg [Member] | |||||
Class of Stock [Line Items] | |||||
Common stock granted | 1,357,425 |
Stock Plans - Summary of Assump
Stock Plans - Summary of Assumptions Used for Computing Grant Date Fair Values of CEO Award and President Award (Detail) - Chad Steelberg and Ryan Steelberg [Member] | Jun. 29, 2018$ / shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Grant date stock price | $ 16.82 |
Dividend yield | 0.00% |
Risk-free interest rate | 2.85% |
Estimated volatility | 73.00% |
Stock Plans - Summary of Fair V
Stock Plans - Summary of Fair Value Per Share Determined for Each of Three Equal Tranches of Award (Detail) | Jun. 29, 2018$ / shares |
Tranche 1 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Fair value per share | $ 9.22 |
Tranche 2 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Fair value per share | 10.05 |
Tranche 3 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Fair value per share | $ 9.5 |
Stock Plans - Schedule of Stock
Stock Plans - Schedule of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | $ 2,651 | $ 1,778 | $ 5,125 | $ 1,903 |
Sales and Marketing [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 248 | 116 | 568 | 155 |
Research and Development [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 266 | 92 | 507 | 104 |
General and Administrative [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 2,137 | 1,570 | 4,050 | 1,644 |
Employee Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 118 | 290 | ||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 135 | 125 | 353 | 125 |
Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 99 | 375 | 147 | 451 |
Performance-based Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 53 | 53 | ||
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | $ 2,246 | $ 1,278 | $ 4,282 | $ 1,327 |
Stock Plans - Schedule of Restr
Stock Plans - Schedule of Restricted Stock Activity (Detail) - 2014 Plan Stock Options/Stock Issuance Plan and 2017 Stock Incentive Plan [Member] - Restricted Stock [Member] | 6 Months Ended |
Jun. 30, 2018$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Shares, Unvested, Beginning Balance | shares | 147,456 |
Shares, Forfeited | shares | (1,975) |
Shares, Vested | shares | (39,181) |
Shares, Unvested, Ending Balance | shares | 106,300 |
Weighted Average Grant Date Fair Value, Unvested, Beginning Balance | $ / shares | $ 6.30 |
Weighted Average Grant Date Fair Value, Forfeited | $ / shares | 7.50 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 5.91 |
Weighted Average Grant Date Fair Value, Unvested, Ending Balance | $ / shares | $ 6.42 |
Stock Plans - Schedule of Res46
Stock Plans - Schedule of Restricted Stock Unit (Detail) - 2014 Plan Stock Options/Stock Issuance Plan and 2017 Stock Incentive Plan [Member] - Restricted Stock Units [Member] | 6 Months Ended |
Jun. 30, 2018$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Shares, Unvested, Beginning Balance | shares | 35,576 |
Shares, Granted | shares | 42,350 |
Shares, Vested | shares | (41,144) |
Shares, Unvested, Ending Balance | shares | 36,782 |
Weighted Average Grant Date Fair Value, Unvested, Beginning Balance | $ / shares | $ 14.76 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 16.26 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 14.75 |
Weighted Average Grant Date Fair Value, Unvested, Ending Balance | $ / shares | $ 16.50 |
Stock Plans - Schedule of Sto47
Stock Plans - Schedule of Stock Option Activity (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Weighted-Average Aggregate Intrinsic Value | $ 14,237 | $ 44,974 |
Weighted-Average Aggregate Intrinsic Value, Exercisable | $ 8,364 | |
2014 Plan Stock Options/Stock Issuance Plan and 2017 Stock Incentive Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options, Outstanding, Beginning Balance | 4,802,594 | |
Options Granted | 3,772,666 | |
Options Exercised | (121,158) | |
Options Forfeited | (361,072) | |
Options Expired | (1,425) | |
Options, Outstanding, Ending Balance | 8,091,605 | 4,802,594 |
Options, Exercisable at June 30, 2018 | 2,266,950 | |
Weighted-Average Exercise Price, Outstanding, Beginning Balance | $ 13.89 | |
Weighted-Average Exercise Price, Options Granted | 20.39 | |
Weighted-Average Exercise Price, Options Exercised | 3.83 | |
Weighted-Average Exercise Price, Options Forfeited | 17.03 | |
Weighted-Average Exercise Price, Options Expired | 12.24 | |
Weighted-Average Exercise Price, Outstanding, Ending Balance | 16.93 | $ 13.89 |
Weighted-Average Exercise Price, Exercisable | $ 13.13 | |
Weighted-Average Remaining Contractual Term, Outstanding | 9 years 2 months 23 days | 9 years 2 months 1 day |
Weighted-Average Remaining Exercisable | 8 years 6 months 10 days |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - USD ($) | Aug. 13, 2018 | Aug. 10, 2018 |
S Media Limited [Member] | Veritone One Inc [Member] | ||
Subsequent Event [Line Items] | ||
Business acquisition, consideration | $ 6,000,000 | |
Business acquisition, percentage of consideration paid in cash | 20.00% | |
Business acquisition, percentage of consideration paid in shares | 80.00% | |
S Media Limited [Member] | Veritone One Inc [Member] | Maximum [Member] | ||
Subsequent Event [Line Items] | ||
Business acquisition, contingent earn-out | $ 5,000,000 | |
Wazee Digital Inc [Member] | ||
Subsequent Event [Line Items] | ||
Business acquisition, consideration | $ 15,000,000 | |
Business acquisition, percentage of consideration paid in cash | 50.00% | |
Business acquisition, percentage of consideration paid in shares | 50.00% |