Veritone, Inc.

Good evening, thank you for attending today's Veritone fourth quarter and year end 2021 financial results conference call. My name is Bethany and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you would like to ask a question, please press star one on your telephone keypad. I would now like to pass the conference over to our host. Please go ahead.

Good afternoon and welcome to Veritone's fourth quarter and full year 2021 conference call. I am the digital twin of Vin Scully, the legendary voice of the Los Angeles Dodgers from 1963 through 2010. Even though I've retired from calling Dodger games several years ago, my voice and passion for sports and great achievements in human history have me here with you today by Veritone Voice, the most advanced AI-powered synthetic voice platform in the world. I'm excited to introduce Veritone's fourth quarter and year-end 2021 conference call. It's now my pleasure to hand the call off to Brian Alger, SVP Investor Relations and Capital Markets. Over to you, Brian. Thank you, Mr. Scully.

After the market closed today, Veritone issued a press release announcing results for the fourth quarter ended December 31st, 2021. The press release and other supplemental information is available at the investor section of Veritone's website. Joining us for today's call are both the live and digital twin versions of Veritone's Chairman and CEO, Chad Stilberg, President Ryan Stilberg, and CFO Mike Zmetra, who will provide prepared remarks and then open up the call for a live Q&A session. We believe having an AI-led earnings call available in multiple languages is an industry first. Shortly after completing today's call, the remarks will be made available in six languages in Veritone's synthetic voices. Please note that certain information discussed on the call today will include forward-looking statements about future events in Veritone's business strategy and future financial and operating performance, including its expected net revenues and non-GAAP net income and loss for the first quarter and full year of 2021, respectively. These forward-looking statements are subject to risks, uncertainties, and assumptions that may cause the actual results to differ materially from those stated or implied by those statements. Certain of these risks and assumptions are discussed in Veritone's SEC filings, including its annual report on Form 10-K. These forward-looking statements are based on the assumptions as of today, March 3, 2022, and Veritone undertakes no obligation to revise or update them. During this call, the actual and forecast financial measures that we'll be discussing, other than revenue, will be presented on a non-GAAP basis, unless noted otherwise. Reconciliations of these measures to the corresponding GAAP measures are included in the press release we issued today. These non-GAAP measures include a breakout of Veritone's results between core operations and corporate Core operations consists of Veritone's consolidated software products and services, including Panalogic, acquired in late September 2021, and managed services that include Veritone's content licensing and advertising services and their supporting operations, including direct costs and sales, as well as operating expenses for sales, marketing, and product development, and certain general and administrative costs dedicated to these operations. Corporate consists of general and administrative functions, such as executives, finance, legal, people operations, fixed overhead expenses, including facilities and information technology expenses, other income or expenses and taxes, and other expenses that support the entire company, including public company-driven costs. Veritone has aligned its organization to focus on two distinct customer groups, commercial enterprise and government and regulated industries. Commercial enterprise today consists of customers in the commercial sector, including our media and entertainment customers, advertising customers, content licensing customers, and customers through PandaLogic that are not from the government or regulated industry. Government Regulated Industries, also known as GRI, today consists of customers in the government and regulated industry sectors, including state, local, and federal governments, legal, compliance, and energy customers. Across the commercial enterprise and government regulated industries businesses, we separate revenue into two categories, software products and services, and managed services. Software products and services consists of revenues generated from our AIWare platform and through panelogic software product solutions, any related support or maintenance services, and any related professional services associated with the deployment and or implementation of such solutions. Managed service solutions consist of revenues generated from our advertising agency and related services and our content licensing services. Finally, I would like to remind everyone this call is being recorded and will be made available for replay via a link on the investor section of the company's website at www.veritone.com. I'd like to turn the call over to the digital twin of our chairman and CEO, Chad Stilbert.