Consolidated Financial Statement Details

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidated Financial Statement Details

Consolidated Financial Statement Details

Consolidated Balance Sheets Details

Cash and Cash Equivalents

As of December 31, 2025 and 2024, the Company had cash and cash equivalents of $27,426 and $16,911.

Accounts Receivable, Net and Allowance for Credit Losses

Accounts receivable consisted of the following:

	As of
	December 31, 2025		December 31, 2024
Accounts receivable - Managed Services (1)	$	13,600	$	5,100
Accounts receivable - Software Products and Services	24,996		27,810
	38,596		32,910
Less: allowance for expected credit losses	(1,828)		(913)
Accounts receivable, net	$	36,768	$	31,997

Accounts receivable - Managed Services reflects the amounts due from the Company’s licensing and representation customers.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	December 31, 2025		December 31, 2024
Prepaid expenses	$	5,383	$	5,234
Indemnification escrow holdback	1,500		3,650
Other receivables	121		854
Trade credits	1,557		—
Other current assets	1,159		760
Prepaid expenses and other current assets	$	9,720	$	10,498

During the year ended December 31, 2025 the Company reduced the indemnification escrow as a result of the terms within the Veritone One Purchase Agreement. Refer to Note 4, Discontinued Operations, Business Combinations, and Divestiture, for additional information.

Property, Equipment and Improvements, Net

Property, equipment and improvements, net consisted of the following:

	As of
	December 31, 2025		December 31, 2024
Property and equipment	$	3,738	$	4,963
Internal use software development costs	16,533		14,100
Leasehold improvements	464		1,620
	20,735		20,683
Less: accumulated depreciation	(11,153)		(10,631)
Property, equipment and improvements, net	$	9,582	$	10,052

Depreciation expense was $5,504 and $4,499 for the years ended December 31, 2025 and 2024, respectively. Of the $3,738 and $4,963 in property and equipment as of December 31, 2025 and 2024, $426 and $2,745 consisted of work in progress not yet placed in service for internal use software development costs, respectively. Depreciation of internal use software development costs was $5,085 and $3,669 for the years ended December 31, 2025 and 2024, respectively.

The Company’s property, equipment and improvements, net by geographic area are as follows:

	As of
	December 31, 2025		December 31, 2024
United States	$	6,059	$	6,973
United Kingdom	3,333		2,846
Others	190		233
Total property, equipment and improvements, net	$	9,582	$	10,052

Other Assets

Other assets consisted of the following:

	December 31, 2025		December 31, 2024
Fair value of earnout receivable	$	—	$	7,667
Investments	2,970		2,990
Deferred tax assets	835		1,773
Operating lease right-of-use assets	1,794		840
Other	1		2,315
Other assets	$	5,600	$	15,585

Accrued expenses and other current liabilities consisted of the following:

	December 31, 2025		December 31, 2024
Accrued compensation	$	4,288	$	4,504
Taxes payable	3,760		5,645
Current portion of operating lease liabilities	620		698
Royalties payable	7,246		3,199
Accrued trade payables	12,272		14,882
Accrued expenses and other current liabilities	$	28,186	$	28,928

Other Non-Current Liabilities

Other non-current liabilities consisted of the following:

	As of
	December 31, 2025		December 31, 2024
Deferred tax liability	$	4,111	$	6,387
Income taxes payable	2,499		2,241
Operating lease liability	1,285		150
Unclaimed escrow liability	2,481		2,500
Other	—		22
Other non-current liabilities	$	10,376	$	11,300

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 consolidated balance sheets. Deferred revenue was comprised of the following:

	Deferred Revenue
Balance as of December 31, 2024	$	12,056
Less: revenue recognized	(30,711)
Additions to deferred revenue	30,945
Balance as of December 31, 2025	$	12,290

Consolidated Statements of Operations and Comprehensive Loss Details

Revenue

Software Products & Services consists of revenue generated from the Company’s aiWARE platform, including its VDR product, and Talent Acquisition solutions, 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, representation services, and, to a lesser extent, from advertising customers and related services.

The table below illustrates the presentation of our revenues based on the above definitions:

	Year Ended
	December 31, 2025		December 31, 2024
Software Products & Services	$	65,819	$	61,068
Managed Services:
Representation Services	6,800		12,550
Licensing	19,573		19,019
Total Managed Services	26,373		31,569
Total revenue	$	92,192	$	92,637

During the year ended December 31, 2025 and 2024, $31,700 and $29,644 of our consolidated revenue was from customers outside of the U.S. and predominately in Europe.