Veritone Inc (VERI) 2023 Q1 法說會逐字稿

Good day, and welcome to the Veritone First Quarter 2023 Financial Results Conference Call.

美好的一天，歡迎參加 Veritone 2023 年第一季度財務業績電話會議。

(Operator Instructions)

（操作員說明）

Please note, this event is being recorded.

請注意，正在記錄此事件。

I would now like to turn the conference over to [Stefan Norbaum.] Please go ahead.

我現在想將會議轉交給 [Stefan Norbaum]。請繼續。

Thank you, and good afternoon. After the market close today, Veritone issued a press release announcing results for the first quarter ended March 31, 2023. And the press release and other supplemental information are available on the Investors section of Veritone's website.

謝謝，下午好。今天收市後，Veritone 發布了一份新聞稿，宣布截至 2023 年 3 月 31 日的第一季度業績。新聞稿和其他補充信息可在 Veritone 網站的投資者部分獲取。

Joining us for today's call are both the live and digital twin versions of Veritone's CEO and President, Ryan Steelberg; and CFO, Mike Zemetra, who will provide prepared remarks and then open up the call for a live question-and-answer session.

加入我們今天的電話會議的是 Veritone 首席執行官兼總裁 Ryan Steelberg 的現場和數字雙胞胎版本；首席財務官 Mike Zemetra 將提供準備好的評論，然後打開電話進行現場問答環節。

Please note that certain information discussed on the call today, including answers to your questions, may include forward-looking statements. This includes, without limitation, statements about our business strategy and future financial and operating performance. These forward-looking statements are subject to risks, uncertainties and assumptions that may cause the actual results to differ materially from those stated. 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 assumptions as of today, May 2, 2023, and Veritone undertakes no obligation to revise or update them.

請注意，今天電話會議上討論的某些信息，包括對您問題的回答，可能包含前瞻性陳述。這包括但不限於關於我們的業務戰略以及未來財務和經營業績的陳述。這些前瞻性陳述受風險、不確定性和假設的影響，可能導致實際結果與陳述的結果大不相同。 Veritone 向美國證券交易委員會提交的文件中討論了其中的某些風險和假設，包括其 10-K 表格的年度報告。這些前瞻性陳述基於截至今天（2023 年 5 月 2 日）的假設，Veritone 不承擔修改或更新這些陳述的義務。

During this call, the actual and forecasted financial measures we will be discussing include non-GAAP measures. Reconciliations of these measures to the corresponding GAAP measures are included in the press release we issued today.

在本次電話會議中，我們將討論的實際和預測財務指標包括非 GAAP 指標。我們今天發布的新聞稿中包含這些措施與相應的 GAAP 措施的調節。

Finally, I would like to remind everyone that not only has this call been produced with Veritone generative AI, but it is also being recorded and will be made available for replay via a link in the Investors section of Veritone's website at www.veritone.com.

最後，我想提醒大家，這個電話會議不僅是用 Veritone 生成式 AI 製作的，而且還在錄製中，並將通過 Veritone 網站 www.veritone.com 的投資者部分中的鏈接重播。 .

Now I would like to turn the call over to the digital twin of our CEO and President, Ryan Steelberg.

現在我想把電話轉給我們的首席執行官兼總裁 Ryan Steelberg 的數字雙胞胎。

Thank you, Stefan. Good afternoon. (foreign language) As Stefan noted, I am Ryan's Digital Twin, powered by Veritone generative AI. We are excited to speak with you today and to provide an update on our first quarter 2023 operations and financial performance.

謝謝你，斯特凡。下午好。 （外語）正如 Stefan 所說，我是 Ryan 的數字雙胞胎，由 Veritone 生成 AI 提供支持。我們很高興今天能與您交談，並提供我們 2023 年第一季度運營和財務業績的最新情況。

It is truly an exciting and dynamic time for AI development and enterprise adoption. Veritone, through its aiWARE platform and applications, continues to lead at the forefront of these efforts, supporting hundreds of market-leading and disruptive companies as they transform and extend their businesses, products and services through the scalable and impactful incorporation and deployment of AI technologies and solutions.

對於 AI 開發和企業採用來說，這確實是一個激動人心且充滿活力的時刻。 Veritone 通過其 aiWARE 平台和應用程序，繼續引領這些努力的前沿，支持數百家市場領先和顛覆性的公司通過可擴展和有影響力的人工智能技術的整合和部署來轉變和擴展他們的業務、產品和服務和解決方案。

The recent acknowledgment of these efforts earlier this month, winning the prestigious NAV Product of the Year award for Veritone's generative AI solutions, is a testament to our continued focus and passion around building and marketing the most advanced and dynamic artificial intelligence products and services in the markets we serve.

本月早些時候，這些努力最近得到認可，Veritone 的生成人工智能解決方案贏得了著名的年度 NAV 產品獎，這證明了我們對構建和營銷最先進、最動態的人工智能產品和服務的持續關注和熱情我們服務的市場。

Before turning to the financial results, I'd like to discuss the strategic pillars laid out earlier this year, which I believe will unlock the true growth potential of our industry-leading applications and enterprise AI platform, aiWARE.

在談到財務業績之前，我想討論一下今年早些時候制定的戰略支柱，我相信這將釋放我們行業領先的應用程序和企業人工智能平台 aiWARE 的真正增長潛力。

First is focused execution. Veritone continues to pursue existing markets where we have established clear differentiation and product market fit, resulting in disruptive efficiency and productivity gains delivered to our customers. Integration of our various applications, enabled through aiWARE, offers orchestrated cognitive and generative AI workflows and solutions transforming the verticals we know best: Talent acquisition, media and entertainment, sports and government-regulated industries. These are all verticals where we are seeing increased AI adoption with large runways for tremendous growth.

一是集中執行。 Veritone 繼續開拓現有市場，在這些市場上我們已經建立了明顯的差異化和產品市場契合度，從而為我們的客戶帶來了顛覆性的效率和生產力收益。通過 aiWARE 實現我們各種應用程序的集成，提供精心策劃的認知和生成 AI 工作流程和解決方案，改變我們最了解的垂直行業：人才招聘、媒體和娛樂、體育和政府監管的行業。在這些垂直領域中，我們看到 AI 的採用率不斷提高，跑道寬闊，增長迅猛。

Second, operational excellence. During 2023, Veritone has already implemented a number of organizational initiatives to reshape the company and more efficiently support the needs of our customers. Together with the executive leadership team, we are pursuing the highest level of excellence in everything we do, from hiring to employee engagement, and of course, product development and sales. The entire Veritone team is doing their part.

二是卓越運營。在 2023 年期間，Veritone 已經實施了多項組織舉措，以重塑公司並更有效地支持客戶的需求。我們與執行領導團隊一起，在我們所做的每一件事中追求最高水平的卓越，從招聘到員工敬業度，當然還有產品開發和銷售。整個 Veritone 團隊都在儘自己的一份力量。

Lastly, fiscal responsibility. As we drive Veritone towards profitable growth in the upcoming year, I'd like to reiterate the initiatives we announced earlier this year, which include a target of $12 million to $15 million of annualized cost savings. I am pleased to report that Veritone remains on track to achieve the target range, reinforcing management's commitment to rightsize our cost structure and optimize the balance sheet. Mike Zemetra will cover these efforts in more detail during his remarks.

最後，財政責任。在我們推動 Veritone 在來年實現盈利增長的同時，我想重申我們今年早些時候宣布的舉措，其中包括每年節省 1200 萬至 1500 萬美元成本的目標。我很高興地報告，Veritone 仍有望實現目標範圍，加強管理層對調整成本結構和優化資產負債表的承諾。 Mike Zemetra 將在他的發言中更詳細地介紹這些努力。

To this end, we have made significant progress on the energy divestiture. I am pleased to share that as of today, Veritone is no longer incurring any expenses from the energy group and the divestiture transaction will close by the end of second quarter 2023. The net result of these actions is that Veritone is more capable, focused and efficient in its operations. Our go-to-market strategy, engagement with customers and partners is more tightly aligned as we drive value.

為此，我們在能源剝離方面取得了重大進展。我很高興地與大家分享，從今天起，Veritone 不再承擔能源集團的任何費用，資產剝離交易將於 2023 年第二季度末完成。這些行動的最終結果是 Veritone 更有能力、更專注、更專注高效運作。我們的上市戰略、與客戶和合作夥伴的互動在我們推動價值的過程中更加緊密地結合在一起。

Turning now to the financial results. For the first quarter of 2023, Veritone reported total revenue of $30 million while delivering new bookings of $15 million, up 57% year-over-year. Further, we ended the quarter with a record number of nearly 670 total software customers, marking a 19% increase.

現在轉向財務結果。 2023 年第一季度，Veritone 報告的總收入為 3000 萬美元，同時新預訂量為 1500 萬美元，同比增長 57%。此外，本季度末，我們的軟件客戶總數達到創紀錄的近 670 家，增長了 19%。

Gross revenue retention was strong, well above the 90th percentile. Importantly, the customer and booking strength was balanced across all of our offerings, further diversifying our business. Our commercial enterprise business, powered by Veritone aiWARE, remains the foundation for our differentiated operating model, providing the majority of the revenues and profits for our company.

總收入保留率很高，遠高於第 90 個百分位數。重要的是，我們所有產品的客戶和預訂實力都得到了平衡，進一步豐富了我們的業務。我們的商業企業業務由 Veritone aiWARE 提供支持，仍然是我們差異化運營模式的基礎，為我們公司提供了大部分收入和利潤。

Our investments in government and regulated industry solutions, or GRI, are also gaining traction, as demonstrated by its material growth. The government and regulated sectors are quickly starting to understand how Veritone's applications extract actionable intelligence from disparate data silos to help drive increased operational efficiency and agency yield.

我們對政府和受監管行業解決方案 (GRI) 的投資也越來越受歡迎，其材料增長就證明了這一點。政府和監管部門正在迅速開始了解 Veritone 的應用程序如何從不同的數據孤島中提取可操作的情報，以幫助提高運營效率和機構收益。

Our strong customer growth and bookings metrics are a direct result from our continued investments in our market-leading aiWARE platform and applications. This includes our focus and efforts on generative AI which are in production and being leveraged by our customers today. The recent emergence of generative artificial intelligence and large language models are topics of daily conversation and prognostication across the entire country. Experts believe we are on the brink of rapid acceleration in task automation.

我們強勁的客戶增長和預訂指標是我們對市場領先的 aiWARE 平台和應用程序持續投資的直接結果。這包括我們對生成人工智能的關注和努力，這些人工智能正在生產中並被我們的客戶所利用。最近出現的生成式人工智能和大型語言模型是全國日常談話和預測的話題。專家認為，我們正處於任務自動化快速加速的邊緣。

A new study from Stanford and MIT has found that AI tools can make entry-level employees up to 14% more productive. In turn, other sources like Bloomberg posit that AI may help narrow the gap between highly and lower skilled workers. These studies validate the Veritone strategy. AI will be a productivity accelerator and ultimately create opportunities for the broader workforce.

斯坦福大學和麻省理工學院的一項新研究發現，人工智能工具可以使入門級員工的工作效率提高 14%。反過來，彭博社等其他消息來源認為，人工智能可能有助於縮小高技能工人和低技能工人之間的差距。這些研究驗證了 Veritone 策略。人工智能將成為生產力加速器，並最終為更廣泛的勞動力創造機會。

Veritone's mission is to augment the human workforce by transforming concepts into industry-leading applications and services. We have been here for almost a decade working with many of the most well-known enterprises in the world. We are thrilled that AI is becoming part of the fabric of daily conversation, which enforces the importance of Veritone's mission to democratize artificial intelligence across all industries.

Veritone 的使命是通過將概念轉化為行業領先的應用程序和服務來增強人力資源。近十年來，我們一直與世界上許多最知名的企業合作。我們很高興 AI 正在成為日常對話的一部分，這加強了 Veritone 使人工智能在所有行業民主化的使命的重要性。

Embedding and implementing generative AI tools across the application stack represents an attractive opportunity that Veritone is uniquely positioned to capitalize on. We have led the industry in bringing scalable AI-powered solutions and applications to market, and that remains true today.

在整個應用程序堆棧中嵌入和實施生成式 AI 工具代表了一個有吸引力的機會，Veritone 具有獨特的優勢可以利用。我們引領行業將可擴展的人工智能解決方案和應用程序推向市場，今天仍然如此。

Across talent acquisition, sports and law enforcement, generative AI has been integrated into Veritone's applications, and our customers are realizing the untapped potential of their assets.

在人才招聘、體育和執法領域，生成式 AI 已集成到 Veritone 的應用程序中，我們的客戶正在實現其資產未開發的潛力。

We are excited to announce that Veritone will be hosting a virtual series called AI in Action to showcase aiWARE and our generative AI capabilities to demonstrate how Veritone customers are using these powerful solutions today. We will be sharing additional details later this week. I hope you all can join us.

我們很高興地宣布，Veritone 將舉辦一個名為 AI in Action 的虛擬系列，以展示 aiWARE 和我們的生成 AI 功能，以展示 Veritone 客戶如今如何使用這些強大的解決方案。我們將在本週晚些時候分享更多細節。我希望你們都能加入我們。

In regards to Veritone's hiring solutions platform. We continue to see industry tailwinds that give us confidence amid the current dynamic environment. As a leader in programmatic job advertising, Veritone cost effectively manages thousands of job listings daily across hundreds of publishers to track results quickly while supporting the AI-hiring goals.

關於 Veritone 的招聘解決方案平台。在當前充滿活力的環境中，我們繼續看到行業順風使我們充滿信心。作為程序化招聘廣告的領導者，Veritone 每天以經濟高效的方式管理數百家發布商的數千份招聘信息，以快速跟踪結果，同時支持 AI 招聘目標。

A study by Gartner demonstrated that highly diverse workforces can improve team performance by up to 30%. Likewise, McKinsey & Company found that the most diverse companies outperformed less diverse peers by 36% in profitability. Veritone positions its partners with deeper insights to recruit top-quality candidates efficiently and at scale.

Gartner 的一項研究表明，高度多樣化的員工隊伍可以將團隊績效提高多達 30%。同樣，麥肯錫公司發現，多元化程度最高的公司的盈利能力比多元化程度較低的同行高出 36%。 Veritone 以更深入的洞察力定位其合作夥伴，以高效、大規模地招聘頂級候選人。

Now let's get into more of the operational details of our first quarter results. Kicking off the business review with commercial enterprise. First quarter 2023 commercial enterprise revenues of $28.9 million declined 14% year-over-year. Excluding Amazon, Q1 2023 commercial enterprise software and services revenues were up 16% year-over-year, while managed services revenues were slightly down less than 1%.

現在讓我們深入了解第一季度業績的更多運營細節。與商業企業開展業務審查。 2023 年第一季度商業企業收入為 2890 萬美元，同比下降 14%。不包括亞馬遜在內，2023 年第一季度商業企業軟件和服務收入同比增長 16%，而託管服務收入略微下降不到 1%。

During Q1 2023, Amazon represented 18% of total revenue, down significantly from 31% in the comparable period a year ago. Each quarter, Veritone's revenue base becomes increasingly diversified and less susceptible to the actions of a single customer or end market.

2023 年第一季度，亞馬遜佔總收入的 18%，遠低於去年同期的 31%。每個季度，Veritone 的收入基礎都變得越來越多樣化，並且不易受單一客戶或終端市場行為的影響。

During the quarter, Veritone announced a comprehensive multiyear partnership extension with Augusta National Golf Club, the home of the iconic Masters tournament. We have served as their official licensing partner and digital asset management platform since 2009, which speaks volumes to Veritone's industry-leading retention rates. We've shown very confidently that when we land customers, we rarely lose them.

本季度，Veritone 宣布與標誌性大師賽的主場奧古斯塔國家高爾夫俱樂部全面延長多年合作夥伴關係。自 2009 年以來，我們一直是他們的官方許可合作夥伴和數字資產管理平台，這充分說明了 Veritone 行業領先的保留率。我們非常自信地表明，當我們吸引客戶時，我們很少會失去他們。

Our AI-powered content licensing platform continued to grow during the quarter. Today, we store over 5 petabytes of actionable content on our platform, partnering with CBS, FOX News, Bloomberg, the Masters and institutions in professional and college sports, among others. This digital content is discoverable and licensable through the Veritone platform, providing a competitive edge as we begin to broaden the reach of our generative AI solutions and capabilities. Whether it is ESPN SportsCenter, Augusta footage or archived footage with the new Michael Jordan and Nike Film, Air, our content licensing platform continues to flourish with topical content trends.

我們的人工智能內容許可平台在本季度繼續增長。今天，我們在我們的平台上存儲了超過 5 PB 的可操作內容，與 CBS、FOX 新聞、彭博社、專業和大學體育碩士和機構等合作。這種數字內容可通過 Veritone 平台發現和許可，在我們開始擴大我們的生成 AI 解決方案和功能的範圍時提供競爭優勢。無論是 ESPN SportsCenter、Augusta 鏡頭，還是 Michael Jordan 和 Nike Film、Air 的存檔鏡頭，我們的內容許可平台都隨著熱門內容趨勢不斷蓬勃發展。

Moving on to government and regulated industries, or GRI. Total GRI revenues were $1.4 million, representing a 79% increase year-over-year. We continue to see numerous opportunities on the state and local government side that reinforce our product fit. While revenues in GRI still account for less than 5% of our total revenues, bookings strength and the growing diversity of customers continue to give us confidence in Veritone's strategy with state and local law enforcement, or LEA end markets.

轉向政府和受監管行業，或 GRI。 GRI 總收入為 140 萬美元，同比增長 79%。我們繼續在州和地方政府方面看到許多機會，這些機會可以加強我們的產品契合度。雖然 GRI 的收入仍占我們總收入的不到 5%，但預訂量強勁和客戶日益多樣化繼續讓我們對 Veritone 與州和地方執法部門或 LEA 終端市場的戰略充滿信心。

Focused execution, operational excellence and fiscal responsibility are the 3 components of Veritone's report card that we have executed against during the year so far. Veritone is on a path to profitability and plans to achieve this growth through organic performance and opportunistic strategy. We look forward to updating you on the progress we are making to unlock long-term value for shareholders in the quarters to come.

專注執行、卓越運營和財務責任是我們今年迄今為止執行的 Veritone 成績單的 3 個組成部分。 Veritone 正走上盈利之路，併計劃通過有機業績和機會主義戰略實現這一增長。我們期待著向您通報我們在未來幾個季度為股東釋放長期價值所取得的進展。

Now I would like to hand the call off to Mike Zemetra, our CFO, to go through the financial results and guidance.

現在，我想將電話轉給我們的首席財務官 Mike Zemetra，以了解財務結果和指導。

Thank you, Ryan. I am excited to report that we made solid financial progress, ending the quarter with great customer metrics and contributions made across software products and services and managed services. During my prepared remarks, I will discuss our first quarter performance, progress on 2023 cost savings initiatives and our Q2 and fiscal 2023 outlook.

謝謝你，瑞安。我很高興地報告，我們取得了穩健的財務進展，以出色的客戶指標結束了本季度，並在軟件產品和服務以及託管服務方面做出了貢獻。在我準備好的發言中，我將討論我們第一季度的業績、2023 年成本節約計劃的進展以及我們第二季度和 2023 財年的展望。

Starting with Q1 2023 performance. Revenue was $30.3 million, down 12% or $4.1 million year-over-year, driven largely by software products and services, which decreased 22% or $4.0 million. As we discussed in detail during our last earnings call, our high-volume hiring solutions, including Amazon, returned to pre-pandemic hiring trends this year. Overall, Amazon declined 49% year-over-year and represented approximately 18% of our consolidated Q1 2023 revenue versus 31% in Q1 2022. Offsetting this decline was non-Amazon software products and services revenue which collectively grew by 16% year-over-year, driven in part by GRI revenue and software customer growth of 79% year-over-year. We remain confident in the strength of our hiring solutions platform.

從 2023 年第一季度的表現開始。收入為 3030 萬美元，同比下降 12% 或 410 萬美元，主要受軟件產品和服務的推動，下降 22% 或 400 萬美元。正如我們在上次財報電話會議上詳細討論的那樣，我們的大批量招聘解決方案（包括亞馬遜）今年恢復了大流行前的招聘趨勢。總體而言，亞馬遜同比下降 49%，約占我們 2023 年第一季度綜合收入的 18%，而 2022 年第一季度為 31%。非亞馬遜軟件產品和服務收入抵消了這一下降，它們同比增長了 16% -year，部分原因是 GRI 收入和軟件客戶同比增長 79%。我們對我們招聘解決方案平台的實力充滿信心。

During the first quarter, our hiring platform customers grew over 20% year-over-year. We continue to see our high-volume hiring customers stabilize with more predictive and less volatile hiring patterns experienced throughout 2022 as they return to pre-pandemic trends. For many industries, including transportation, nursing, retail and hospitality, there is still a massive shortage in the workforce. The resilience of our hiring solutions platform uniquely positions Veritone to increase market share and capitalize in the current volatile market environment.

第一季度，我們的招聘平台客戶同比增長超過 20%。我們繼續看到我們的大量招聘客戶穩定下來，他們在整個 2022 年經歷了更具預測性和波動性更小的招聘模式，因為他們回到了大流行前的趨勢。對於許多行業，包括交通、護理、零售和酒店業，勞動力仍然嚴重短缺。我們招聘解決方案平台的彈性使 Veritone 處於獨特的地位，可以增加市場份額並在當前動蕩的市場環境中獲利。

Our managed services revenue was flat in Q1 2023 versus 2022, led by growth in licensing, offset by a slight softness in advertising revenue driven by the current economic environment. As I will discuss later in my prepared remarks, we expect this advertising softness to continue through Q2 2023 and reverse itself into the second half of 2023, given our customer mix and seasonality on spend.

我們的託管服務收入在 2023 年第一季度與 2022 年持平，這主要是由於許可增長，但被當前經濟環境推動的廣告收入略有疲軟所抵消。正如我稍後將在準備好的發言中討論的那樣，考慮到我們的客戶組合和支出的季節性，我們預計這種廣告疲軟將持續到 2023 年第二季度，並在 2023 年下半年逆轉。

Overall, Veritone's customer pipeline and long-term outlook remains strong. Our partner-driven channel strategy continues to deliver results with new bookings of $15.0 million in Q1 2023, representing a 57% increase year-over-year.

總體而言，Veritone 的客戶渠道和長期前景依然強勁。我們以合作夥伴為導向的渠道戰略繼續取得成果，2023 年第一季度的新預訂量為 1500 萬美元，同比增長 57%。

As an industry leader, Veritone remains encouraged by the growing number of opportunities as companies seek to boost operational efficiencies, given the challenging market. We are seeing meaningful traction from new and existing commercial enterprise and GRI customers that want to benefit from Veritone's industry-leading applications, hiring solutions and new offerings, such as cloud-based Veritone Redact, which accelerates evidence redaction workflows. Our future pipeline remains strong with ample cross-selling opportunities, particularly in GRI, where we expect significant growth in the near and long term.

作為行業領導者，Veritone 對越來越多的機會感到鼓舞，因為公司在充滿挑戰的市場中尋求提高運營效率。我們看到來自新老商業企業和 GRI 客戶的有意義的牽引力，他們希望從 Veritone 行業領先的應用程序、招聘解決方案和新產品中受益，例如基於雲的 Veritone Redact，它可以加速證據編輯工作流程。我們未來的管道仍然強勁，有充足的交叉銷售機會，特別是在 GRI，我們預計短期和長期都會有顯著增長。

In Q1, we delivered strong key performance metrics. New bookings were $15.0 million, up 57% from Q1 2022. Gross revenue retention continued to be in the high 90th percentile and ending software customers were up 19% year-over-year. In Managed Services, Q1 advertising gross billings per active client increased to $771,000, up 13% from Q1 2022. Overall, gross advertising revenue remained relatively strong despite a challenging macro environment, driven by the performative nature of our platform.

在第一季度，我們提供了強大的關鍵績效指標。新預訂額為 1500 萬美元，比 2022 年第一季度增長 57%。總收入保留率繼續保持在第 90 個百分位的高位，最終軟件客戶同比增長 19%。在託管服務方面，第一季度每個活躍客戶的廣告總賬單增加到 771,000 美元，比 2022 年第一季度增長 13%。總體而言，儘管宏觀環境充滿挑戰，但在我們平台的性能推動下，廣告總收入仍然相對強勁。

Q1 2023 GAAP loss from operations was $23.4 million as compared to $20.8 million in Q1 2022, a decline of $2.6 million, driven by our non-GAAP gross profit, offset by improvements in our operating cost structure. Q1 2023 non-GAAP gross profit reached $23.5 million declining $4.0 million or 15% from Q1 of 2022, largely due to the decrease in our hiring solutions revenue.

2023 年第一季度的 GAAP 運營虧損為 2340 萬美元，而 2022 年第一季度為 2080 萬美元，下降了 260 萬美元，這是由我們的非 GAAP 毛利潤推動的，但被我們運營成本結構的改善所抵消。 2023 年第一季度非美國通用會計準則毛利潤達到 2350 萬美元，比 2022 年第一季度下降 400 萬美元或 15%，這主要是由於我們的招聘解決方案收入下降。

Overall Q1 non-GAAP gross margins were 77.5% as compared with 79.9% in Q1 of 2022. Software Products and Services non-GAAP gross margins benefited from the inclusion of our hiring solutions, which generated non-GAAP gross margins in excess of 90%. As a result, the overall non-GAAP gross margin came down in Q1 2023 as compared to Q1 2022. We expect consolidated non-GAAP gross margins to return to and exceed 80% throughout the remainder of fiscal 2023, with sequential improvement each quarter consistent with the seasonality of our business.

第一季度非 GAAP 總毛利率為 77.5%，而 2022 年第一季度為 79.9%。軟件產品和服務的非 GAAP 毛利率受益於我們的招聘解決方案，該解決方案產生的非 GAAP 毛利率超過 90% .因此，與 2022 年第一季度相比，2023 年第一季度的整體非 GAAP 毛利率有所下降。我們預計在 2023 財年的剩餘時間裡，綜合非 GAAP 毛利率將恢復到並超過 80%，每個季度的連續改善都是一致的隨著我們業務的季節性。

Q1 non-GAAP net loss was $9.6 million as compared to $5.2 million in Q1 2022, driven largely by the decline in revenue from our hiring solutions, which negatively impacted our core operations. Q1 2023 corporate operations remained relatively flat year-over-year.

第一季度非 GAAP 淨虧損為 960 萬美元，而 2022 年第一季度為 520 萬美元，這主要是由於我們的招聘解決方案收入下降，這對我們的核心業務產生了負面影響。 2023 年第一季度企業運營與去年同期相比保持相對平穩。

Turning to our balance sheet. At March 31, 2023, we held cash and restricted cash of $139.7 million compared to $184.4 million at December 31, 2022. The $44.7 million decrease reflects net cash outflows from operations of approximately $33.8 million driven principally by the timing of payments in Managed Services and by our Q1 2023 $9.6 million non-GAAP net loss.

轉向我們的資產負債表。截至 2023 年 3 月 31 日，我們持有現金和受限制現金為 1.397 億美元，而 2022 年 12 月 31 日為 1.844 億美元。減少 4470 萬美元反映了運營產生的淨現金流出約 3380 萬美元，這主要是由於託管服務的付款時間和我們 2023 年第一季度的非 GAAP 淨虧損為 960 萬美元。

In addition, we had net cash outflows from financing and investing activities of $10.9 million driven by deferred purchase price consideration of $9.3 million paid in Q1 2023 largely from PandoLogic's 2022 earn-out and certain 2022 acquisitions.

此外，由於 2023 年第一季度支付的 930 萬美元遞延購買價對價主要來自 PandoLogic 2022 年的盈利和某些 2022 年的收購，我們的融資和投資活動產生的現金流出淨額為 1090 萬美元。

Of the total $139.7 million in cash, approximately $67.9 million of our reported cash is essentially held for payment to third parties from our Managed Services, down from $93.1 million at December 31, 2022. The $25.2 million decline in cash held for third parties is partially reflective of the seasonality of our advertising services, coupled with certain catch-up payments made in Q1 2023 from delayed payments as we migrated onto our new Oracle ERP system in the second half of 2022.

在 1.397 億美元的現金總額中，我們報告的現金中約有 6790 萬美元主要是為通過我們的託管服務支付給第三方而持有的，低於 2022 年 12 月 31 日的 9310 萬美元。為第三方持有的現金減少 2520 萬美元是部分原因反映了我們廣告服務的季節性，以及我們在 2022 年下半年遷移到新的 Oracle ERP 系統時因延遲付款而在 2023 年第一季度進行的某些追補付款。

We ended March 31, 2023, with 36.8 million shares outstanding and convertible debt of $141 million principal, 1.75% interest due November 2026.

截至 2023 年 3 月 31 日，我們擁有 3680 萬股已發行股票和 1.41 億美元本金的可轉換債務，2026 年 11 月到期的利息為 1.75%。

Turning to our cost savings update. In February of this year, we announced $12 million to $15 million of annualized cost savings initiatives, which included optimizing our cost structure, along with the divestiture of our Energy Group. I am happy to report that we've executed on approximately $10.8 million of annualized savings through today or approximately 72% of the high end of our stated range. We remain on schedule to divest our Energy Group in Q2 2023.

轉向我們的成本節約更新。今年 2 月，我們宣布了 1200 萬至 1500 萬美元的年度成本節約計劃，其中包括優化我們的成本結構，以及剝離我們的能源集團。我很高興地報告，到今天為止，我們已經執行了大約 1080 萬美元的年化節省，或者說是我們規定範圍高端的大約 72%。我們仍按計劃在 2023 年第二季度剝離我們的能源集團。

Turning to our financial guidance for Q2 and fiscal 2023. Fiscal 2023 continues to be a challenging year with increased uncertainty amplified by recent banking developments. We maintain our conservative 2023 outlook with heightened discipline around costs as we march towards profitability.

轉向我們對第二季度和 2023 財年的財務指導。2023 財年仍然是充滿挑戰的一年，近期銀行業的發展加劇了不確定性。我們維持保守的 2023 年展望，並在我們邁向盈利的過程中加強成本控制。

With that backdrop, we are guiding Q2 revenue to be between $32 million and $34.0 million, representing a slight decrease year-over-year at the midpoint. Driving this decrease is the loss of certain onetime software revenue across our media and entertainment SaaS platform, offset by an improved hiring solutions outlook, including Amazon, which is returning to more seasonal trends in Q2 and in the second half of 2023; and GRI, which we expect to improve substantially in Q2 2023 versus Q2 2022, driven by new and existing customer growth.

在此背景下，我們將第二季度的收入指導在 3200 萬美元至 3400 萬美元之間，中點同比略有下降。導致這一下降的原因是我們媒體和娛樂 SaaS 平台上某些一次性軟件收入的損失，但被改善的招聘解決方案前景所抵消，其中包括亞馬遜，它將在第二季度和 2023 年下半年回歸更具季節性的趨勢；和 GRI，我們預計在新客戶和現有客戶增長的推動下，2023 年第二季度與 2022 年第二季度相比將大幅改善。

Our managed services business is expected to be flat in Q2 2023 versus 2022 with expected advertising revenue to remain comparable to the first quarter of 2023 versus 2022 given the current economic environment. Risks to our Q2 revenue guidance include the execution of new enterprise deliverables, namely across GRI, which can be unpredictable, and our concentration of Amazon as usage of our hiring platform can vary.

鑑於當前的經濟環境，我們的託管服務業務預計在 2023 年第二季度與 2022 年持平，預計廣告收入將與 2023 年第一季度和 2022 年持平。我們第二季度收入指南的風險包括新企業可交付成果的執行，即跨 GRI，這可能是不可預測的，以及我們對亞馬遜的集中度，因為我們的招聘平台的使用情況可能會有所不同。

And we expect Q2 quarterly non-GAAP net loss to be between $6.5 million and $8.0 million, which is relatively flat versus Q2 2022 at the midpoint. As a reminder, Q1 and Q2 are our seasonally lowest-performing quarters as the majority of our costs are fixed and payroll-driven.

我們預計第二季度非 GAAP 淨虧損將在 650 萬美元至 800 萬美元之間，與 2022 年第二季度的中點相比相對持平。提醒一下，第一季度和第二季度是我們季節性表現最差的季度，因為我們的大部分成本是固定的並且由工資驅動。

For full year 2023, we are tightening our revenue outlook to be between $158.0 million and $165.0 million, representing a year-over-year increase of 8% at the midpoint. As a reminder, and given the current economic outlook, we are forecasting our revenue conservatively in 2023, including a year-over-year decline of approximately 10% from Amazon, certain onetime software sales revenues in 2022 not recurring in 2023, and the disposition of our energy revenue group in the first half of 2023. If we exclude the impact of these, our revenue guidance would be more than a 20% improvement in 2023 versus 2022.

對於 2023 年全年，我們將收入預期收緊在 1.58 億美元至 1.65 億美元之間，中點同比增長 8%。提醒一下，鑑於當前的經濟前景，我們保守地預測 2023 年的收入，包括來自亞馬遜的同比下降約 10%、2022 年某些一次性軟件銷售收入不會在 2023 年重複出現，以及處置我們的能源收入集團在 2023 年上半年的收入。如果我們排除這些影響，我們的收入指導將在 2023 年比 2022 年提高 20% 以上。

Risks to our annual revenue guidance reflect the macro economy and the results of continued inflation and higher interest rates on our customers' execution of new enterprise deliverables, namely across GRI and continued customer growth and retention metrics from our software products and services.

我們年度收入指導的風險反映了宏觀經濟以及持續通貨膨脹和更高利率對我們客戶執行新企業可交付成果的結果，即跨 GRI 以及我們軟件產品和服務的持續客戶增長和保留指標。

We expect full year non-GAAP net loss to improve substantially in 2023 and be between $7.0 million and $2.0 million as we continue to progress towards profitability. At the midpoint, this represents a 72% improvement when compared to fiscal 2022 non-GAAP net loss.

我們預計 2023 年全年非 GAAP 淨虧損將大幅改善，隨著我們繼續實現盈利，將在 700 萬美元至 200 萬美元之間。從中點來看，與 2022 財年的非 GAAP 淨虧損相比，這代表了 72% 的改善。

Before I close, we will be speaking at the following investor conferences: The EF Hutton inaugural Global Conference in New York on May 11; The Needham Technology and Media Conference in New York on May 16, 17 and 18; The Stifel Cross-Sector Insight Conference in Boston on June 6 and 7; and The Bank of America Global Technology Conference in San Francisco on June 6, 7 and 8.

在我結束之前，我們將在以下投資者會議上發言： 5 月 11 日在紐約舉行的 EF Hutton 首屆全球會議； 5 月 16 日、17 日和 18 日在紐約舉行的 Needham 技術和媒體會議； 6 月 6 日至 7 日在波士頓舉行的 Stifel 跨部門洞察會議；以及 6 月 6 日、7 日和 8 日在舊金山舉行的美國銀行全球技術大會。

That concludes my prepared remarks. Operator, we would like to now open up the call for questions.

我準備好的發言到此結束。接線員，我們現在想打開問題電話。

(Operator Instructions)

（操作員說明）

The first question comes from Koji Ikeda with Bank of America.

第一個問題來自美國銀行的 Koji Ikeda。

A couple from me here. First one. I guess, really with all the buzz around generative AI, how does Veritone think about maintaining a differentiation gap with generative AI between the mega software companies like Microsoft and Salesforce? Does it mean that Veritone needs to get more specialized? Does it mean you need to develop proprietary models? Just any sort of color on how Veritone is going to maintain that differentiation gap for the long term would be helpful.

我這裡有一對。第一。我想，真的隨著生成 AI 的所有討論，Veritone 如何考慮在 Microsoft 和 Salesforce 等大型軟件公司之間保持與生成 AI 的差異化差距？這是否意味著 Veritone 需要更加專業化？這是否意味著您需要開發專有模型？任何關於 Veritone 將如何長期保持差異化差距的顏色都會有所幫助。

Sure. I think I'll speak to that opportunity, really looking at our software and services in 2 categories. One is the application layer and the second is the platform, aiWARE.

當然。我想我會談談這個機會，真正地在兩個類別中審視我們的軟件和服務。一是應用層，二是平台，aiWARE。

So first on the application layer. What you're seeing in terms of a lot of success, and I'll say, practical and profitable use of generative AI on the street is, I'll say, the enhancement of existing applications. So GitHub Copilot, for example, or what we're seeing with other forms of additional generative AI within existing applications. And that's something that we've taken exactly and followed the exact same path.

所以首先在應用層。你所看到的很多成功，我會說，生成人工智能在街頭的實際和有利可圖的使用，我會說，是對現有應用程序的增強。例如，GitHub Copilot，或者我們在現有應用程序中看到的其他形式的附加生成 AI。這就是我們所採取的並遵循完全相同的路徑的事情。

So some of our more successful -- sorry, AI-based applications, such as Digital Media Hub, our voice technology, we have already integrated and again, we're a little bit agnostic into what generative AI models are out there in the market. But our ability to quickly onboard these new models into aiWARE and immediately make those new generative AI solutions available through our application has been -- has already been done across several of our applications. And we're already seeing immediate utilization and consumption from our customers that are leveraging these tools.

所以我們一些更成功的——抱歉，基於人工智能的應用程序，比如數字媒體中心，我們的語音技術，我們已經集成了，而且我們對市場上有哪些生成人工智能模型有點不可知.但是我們已經能夠將這些新模型快速載入 aiWARE 並立即通過我們的應用程序提供這些新的生成 AI 解決方案——已經在我們的幾個應用程序中完成了。我們已經看到利用這些工具的客戶立即使用和消費。

So first and foremost, we see this as an accelerant to our existing application. Again, another testament of our ever-increasing customer base and very low retention loss.

因此，首先，我們將其視為我們現有應用程序的促進劑。這再次證明了我們不斷增長的客戶群和極低的保留損失。

On the aiWARE platform, directly aiWARE, again, we look at this, has been consistent with our model since our inception, we are model agnostic. It's one of the main benefits and the primary vision of how we've architected and designed aiWARE, is expecting, when these new powerful models become available, our ability to quickly onboard them and make them immediately available through the same workflow stack to our customers has been, and we expect to continue to be a strong competitive advantage. And we view large language models and other forms of some of the generative AI solutions no different.

在aiWARE平台上，直接aiWARE，再一次，我們看這個，從一開始就和我們的模型一致，我們是模型不可知論者。這是我們構建和設計 aiWARE 的主要好處和主要願景之一，期望在這些新的強大模型可用時，我們能夠快速加入它們並通過相同的工作流程堆棧立即將它們提供給我們的客戶一直以來，我們都希望繼續成為強大的競爭優勢。我們認為大型語言模型和其他形式的一些生成式 AI 解決方案沒有什麼不同。

So again, we have -- we are seeing increased demand, not diminishing demand. And we're seeing that both through our application offerings as well as our platform -- our native platform aiWARE offerings.

因此，我們再次看到 - 我們看到需求增加，而不是需求減少。我們通過我們的應用程序產品和我們的平台——我們的原生平台 aiWARE 產品看到了這一點。

Got it, Ryan. And just one follow-up here for Mike. Thanks for all the color on the Amazon and how to think about the contributions. I might have missed it. What was the total hiring solutions revenue contribution in 1Q? I think I heard Amazon revenue down 50%, but what about the total for the hiring solutions revenue? I think on the last call, you mentioned that hiring solutions revenue may come in down 50% year-over-year in 1Q. So how did it perform against that metric? Or what was that number overall?

明白了，瑞安。這裡只是邁克的後續行動。感謝亞馬遜上的所有顏色以及如何考慮貢獻。我可能錯過了。第一季度招聘解決方案的總收入貢獻是多少？我想我聽說亞馬遜的收入下降了 50%，但是招聘解決方案的總收入呢？我想在上次電話會議上，您提到第一季度招聘解決方案收入可能同比下降 50%。那麼它是如何根據該指標執行的呢？或者這個數字是多少？

Yes. We don't break that out, Koji separately. But while we did say that Amazon was down 49% year-over-year, and that they represented 18% of our consolidated revenue in this quarter as opposed to 31% in the prior year quarter. So you can probably do the math.

是的。我們不會分開，Koji。但是，儘管我們確實說過亞馬遜同比下降了 49%，並且它們佔本季度我們綜合收入的 18%，而去年同期為 31%。所以你可以算一下。

The next question comes from Darren Aftahi with ROTH MKM.

下一個問題來自 Darren Aftahi 和 ROTH MKM。

Guys, can you hear me?

伙計們，你能聽到我說話嗎？

Yes.

是的。

So 2, if I may. So we're kind of over the tough comp for Amazon and with Pando and some of your commentary Mike sounds like hiring could start to kind of grow again. I guess I don't want to put words in your mouth, but like can you just kind of give a general sense for the outlook for Pando for the rest of the year?

所以 2，如果可以的話。因此，我們對亞馬遜和 Pando 的艱難競爭有點過頭了，邁克的一些評論聽起來像是招聘可能會再次開始增長。我想我不想把話說到你嘴裡，但你能不能大致介紹一下 Pando 在今年餘下時間的前景？

And then the booking strength sort of second quarter in a row, it's been really strong. I'm just kind of curious the mix of verticals that you're kind of driving that strength.

然後是連續第二個季度的預訂量，真的很強勁。我只是有點好奇你在推動這種力量的垂直組合。

Mike and I can tag-team these. But let's start with hiring solutions. We're definitely seeing more stability, as we mentioned in our previous prepared remarks, into the investments on the hiring side, inclusive of Amazon, which is great news. It's definitely back to pre-pandemic levels, and we expect more stability in that.

邁克和我可以組隊這些。但讓我們從招聘解決方案開始。正如我們在之前準備好的評論中提到的，我們肯定會看到更多的穩定性，包括亞馬遜在內的招聘方面的投資，這是個好消息。它肯定回到了大流行前的水平，我們預計這會更加穩定。

We're still cautious in taking a conservative position, which we've sort of built into our guidance, about breakout growth on that side. But again, I would stress stability and more consistent or historical patterns, which is great.

我們在採取保守立場時仍然持謹慎態度，我們已經將其納入我們的指導方針，關於這方面的突破性增長。但同樣，我會強調穩定性和更一致的或歷史模式，這很好。

On the new -- as we articulated though, the key thing to point out is continued growth over 20% in terms of new customers for our HR hiring solutions group, as well as a decrease in Amazon. And just double-tap on that again, going from 31% to 18% in terms of revenue contribution for the quarter. These are all great signs. And so again, landing new customers, and we're seeing more stability in the hiring.

在新的方面——正如我們所闡明的那樣，要指出的關鍵是我們的人力資源招聘解決方案組的新客戶持續增長超過 20%，而亞馬遜則有所減少。再次雙擊它，就本季度的收入貢獻而言，從 31% 上升到 18%。這些都是很好的跡象。再次吸引新客戶，我們看到招聘更加穩定。

Also, let's point out that, outside of some of the very higher-compensation level jobs and kind of highlighted in the press on the tech industry, we are seeing a continued and very high demand in hiring in many other sectors; transportation, nursing, hospitality and others. We do not expect that to change. Obviously, there's a lot of supporting data around that as well.

另外，我們要指出的是，除了一些薪酬水平非常高的工作和媒體對科技行業的強調之外，我們還看到許多其他行業的招聘需求持續且非常高；運輸、護理、招待和其他。我們預計這不會改變。顯然，也有很多支持數據。

So in terms of a macro opportunity, we look at this -- and we're very bullish on our hiring solutions business. We see this continuing to be a dynamic and tight labor market. And in some areas, there's still a huge shortage of labor. So very bullish there.

因此，就宏觀機會而言，我們著眼於這一點——我們非常看好我們的招聘解決方案業務。我們認為這仍然是一個充滿活力和緊張的勞動力市場。在某些地區，勞動力仍然嚴重短缺。那裡非常看漲。

And then I apologize, the second question was -- oh, in terms of bookings. I mean, this one was probably the most diversified bookings contribution we've had really, since I can remember. So really across the board. And that's a combination of net new logos and new customers, as well as -- which is a great sign, contribution for -- and a very high retention rate in the renewals.

然後我很抱歉，第二個問題是——哦，關於預訂。我的意思是，從我記事起，這可能是我們真正擁有的最多樣化的預訂貢獻。所以真的一刀切。這是淨新徽標和新客戶的結合，以及 - 這是一個很好的標誌，貢獻 - 以及續訂中非常高的保留率。

So our ability, even with some of these macro market headwinds, our ability to maintain and re-sign, and in some instances, even grow upon the renewals, the size of the deals with existing customers, again, is a great sign for the stickiness of our products and services, as well as our ability to continue to progress on a lot of these deals in the pipeline.

因此，我們的能力，即使有一些宏觀市場逆風，我們維持和重新簽約的能力，在某些情況下，甚至隨著續約而增長，與現有客戶的交易規模再次是一個很好的跡象我們產品和服務的粘性，以及我們繼續推進許多這些交易的能力。

(Operator Instructions)

（操作員說明）

The next question comes from Nick Mattiacci with Craig-Hallum.

下一個問題來自 Nick Mattiacci 和 Craig-Hallum。

This is Nick on for Chad Bennett. So just on the hiring solutions segment, I guess, excluding Amazon, can you talk about how growth was split this past year between new customers and expansion of existing? And then kind of how are you thinking about new versus existing growth in that segment for the remainder of this year?

這是查德貝內特的尼克。所以就招聘解決方案部分而言，我想，不包括亞馬遜，你能談談去年新客戶和現有客戶擴張之間的增長情況嗎？然後，您如何看待今年剩餘時間內該細分市場的新增長與現有增長？

I don't think we break out same-store renewal base revenues from net new logos. But again, I would say it's been somewhat consistent. We are heavily consumption-based business in certain areas of our revenue base. And so what you're seeing here has been somewhat consistent in terms of contribution for renewal-based or same customer-based growth in addition to contributions of net new logos.

我認為我們不會從淨新標識中分離出同店更新基礎收入。但我要說的是，它在某種程度上是一致的。在我們的收入基礎的某些領域，我們主要是基於消費的業務。因此，除了淨新徽標的貢獻之外，您在這裡看到的在基於更新或基於相同客戶的增長的貢獻方面有些一致。

Overall, new customer growth is slightly down from previous years. We mentioned on a consolidated basis, I believe it was right around 20% in terms of customer growth, up to about 670 software-based customers. But again, I would say this is in-band and consistent with previous years.

總體而言，新客戶增長比往年略有下降。我們在綜合基礎上提到，我認為就客戶增長而言，它大約增長了 20%，最多約有 670 個基於軟件的客戶。但同樣，我會說這是帶內的，與往年一致。

Got it. And then taking a look at the advertising segment. So average billings per client for that segment continues to grow well above revenue growth. Maybe if you could just expand on that dynamic. And anything you can share on the type of clients that are driving the strong growth in billings?

知道了。然後看看廣告部分。因此，該細分市場每個客戶的平均賬單增長繼續遠高於收入增長。也許你可以擴展這種動態。關於推動賬單強勁增長的客戶類型，您有什麼可以分享的嗎？

Yes. I think, again, as we've articulated, we've been more resilient, and we're showing it again versus, I'll call it, the macro advertising market, because really, the nature of the industry we serve in the media business and the advertising business, specifically our focus on, still, the faster-growing areas of influencer-based marketing and our leadership position in digital formats like podcasting. So those are great benefits, and we're reaping the benefits of such.

是的。我認為，正如我們已經闡明的那樣，我們已經變得更有彈性，並且我們再次展示它與我稱之為宏觀廣告市場的對比，因為實際上，我們所服務的行業的性質媒體業務和廣告業務，特別是我們仍然關注增長更快的基於影響者的營銷領域，以及我們在播客等數字格式方面的領導地位。所以這些都是巨大的好處，我們正在從中獲益。

On -- in terms of the profile of the customers, we have seen softness from, I'll say, earlier stage or smaller companies that are, I'd say, more skewed towards being solely venture-backed, as compared to the contribution in the ad business from some of our larger customers. And so some of the revenue makeup is we do have different -- despite pretty strong and consistent gross billings you're seeing -- or, I would say, more stability from, I would say, mid and larger customers in the ad business as compared to some of the earlier or smaller start-ups or venture-backed companies, which -- some of which have higher commission rates.

關於 - 就客戶概況而言，我們已經看到來自較早階段或較小公司的疲軟，我會說，與貢獻相比，更傾向於完全由風險投資支持在我們一些大客戶的廣告業務中。因此，我們的一些收入構成確實有所不同——儘管你看到了相當強勁和一致的總賬單——或者，我想說，廣告業務中的中型和大型客戶更加穩定與一些較早或較小的初創企業或風險投資支持的公司相比，其中一些佣金率更高。

So if you kind of look at that blend, you're still seeing a strong performance in gross billings, a slight decline in overall net revenues, and that's purely sort of based upon the allocation of customers. So the good news is we're maintaining and keeping and growing our larger customers, hence the increase in gross billings per customer, but we have seen softness from some of the venture-backed and smaller companies that we also work with.

因此，如果你看一下這種混合，你仍然會看到總賬單表現強勁，整體淨收入略有下降，而這純粹是基於客戶的分配。所以好消息是我們正在維護和保持和發展我們的大客戶，因此每個客戶的總賬單增加，但我們已經看到一些與我們合作的風險投資支持和較小的公司的疲軟。

(Operator Instructions)

（操作員說明）

This concludes our question-and-answer session. I would like to turn the conference back over to Ryan Steelberg for any closing remarks.

我們的問答環節到此結束。我想將會議轉回 Ryan Steelberg 的閉幕詞。

I would like to thank everyone for joining us today. As I reflect on my first quarter in my new role as CEO, I have a lot of excitement and optimism for what is to come. AI, artificial intelligence, machine learning is evolving rapidly, as we're all reading and experiencing, and Veritone is well positioned to guide our customers through this innovation that is ahead.

我要感謝大家今天加入我們。當我回顧我作為 CEO 的新角色的第一季度時，我對即將發生的事情感到非常興奮和樂觀。人工智能、人工智能、機器學習正在迅速發展，正如我們都在閱讀和體驗的那樣，而 Veritone 處於有利地位，可以通過這一領先的創新來引導我們的客戶。

What we've seen is the more we empower our customers, and it's really a testament, again, to us to deploying and leveraging these applications built on top of aiWARE, as the more we empower our customers to engage with our tools and solutions, the easier it is for us to make them understand the possibilities when these new capabilities, such as generative AI come on to the market and we really view ourselves as a critical component to these companies' transformation really as they're adopting these new AI solutions, and in the media and entertainment space, obviously, with acute focus on generative AI.

我們所看到的是，我們為客戶提供的能力越多，這再次證明我們部署和利用這些構建在 aiWARE 之上的應用程序，因為我們為客戶提供的能力越多，他們就可以使用我們的工具和解決方案，我們越容易讓他們了解這些新功能（例如生成人工智能）進入市場時的可能性，我們真的認為自己是這些公司轉型的關鍵組成部分，因為他們正在採用這些新的人工智能解決方案，以及在媒體和娛樂領域，顯然，他們非常關註生成人工智能。

In conjunction with the Needham Conference and our upcoming May Investor Roadshow, as we touched on earlier in the prepared remarks, we will be showcasing product demos, specifically around generative AI and other newer solutions during our presentations and on our website. So we look forward to sharing more about what we're calling AI in Action later this month.

結合 Needham 會議和我們即將舉行的 5 月投資者路演，正如我們在準備好的評論中提到的那樣，我們將展示產品演示，特別是在我們的演示期間和我們的網站上圍繞生成 AI 和其他更新的解決方案。因此，我們期待在本月晚些時候分享更多關於我們稱之為 AI in Action 的內容。

And lastly, just to touch on, again, I'm very proud of the actions that we've taken in terms of cost savings initiatives and the progress against such us restructuring different areas of the business and bringing on excellent new talent to the company. And so I believe we're sitting in a very attractive position, again, with a very strong customer base, high gross margins and a strong retention rate. And I think we have the right team and the right structure in place to really take advantage of the opportunity.

最後，再次提及，我為我們在節約成本方面採取的行動以及我們在重組不同業務領域和為公司引進優秀新人才方面取得的進展感到非常自豪.因此，我相信我們再次處於非常有吸引力的位置，擁有非常強大的客戶群、高毛利率和高保留率。而且我認為我們擁有合適的團隊和合適的結構來真正利用這個機會。

I look forward to updating you guys on our future calls, and I hope to see many of you at the upcoming conferences. Thank you for your time.

我期待著為大家更新我們未來的電話會議，我希望在即將舉行的會議上見到你們中的許多人。感謝您的時間。

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

會議現已結束。感謝您參加今天的演講。您現在可以斷開連接。