v3.26.1
Leases, Commitments, and Contingencies
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases, Commitments, and Contingencies Leases, Commitments, and Contingencies
Leases
In January 2025, the Company entered into a non-cancellable agreement to lease office space in London to replace its existing office space. The base rent is approximately $3 per month, translated at the June 30, 2026 spot rate, in the aggregate over the original lease term of 71 months from the commencement date. In June 2026, the Company extended its lease at its headquarters in Irvine, CA until August 2029. The base rent is approximately $29 per month and increases to $30 per month over the life of the lease for total payments of $1,000.
Deferred Purchase Consideration
In connection with its acquisition of an influencer-based management company in March 2022, the Company committed to make deferred purchase consideration payments totaling $3,500 contingent upon recipient’s continued employment through December 31, 2025. The first payment of $1,000 was made in the first quarter of 2024, the second payment of $1,000 was made in the first quarter of 2025, and the final payment of $1,500 was made in the first quarter of 2026.
Legal and 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.
In December 2024, the Company received $2,500 in unclaimed funds associated with the PandoLogic acquisition from its escrow agent. Based on the jurisdiction of the potential future claims and underlying statute of limitations, the Company has recognized the unclaimed funds as part of other non-current liabilities within its consolidated balance sheets, which amounted to $2,481 and $2,500 as of June 30, 2026 and December 31, 2025, respectively, and will continue to evaluate the merit of such claims.
On May 21, 2026, a stockholder, individually and on behalf of all others similarly situated, filed a complaint against the Company, Ryan Steelberg, and Michael L. Zemetra as current officers of the Company in the United States District Court for the Central District of California, captioned Ahmed Elwan v. Veritone, Inc. et al, No. 8:26-cv-01275 (the “Securities Action”). The complaint alleges violations of Sections 10(b) and 20(a) of the Exchange Act, in connection with allegedly false and misleading statements made by the Company during the period from October 14, 2025, to April 14, 2026 (the “Class Period”). Specifically, the complaint alleges that, among other things, the Company had inaccurately recorded and misclassified certain revenue and costs resulting in overstatements of revenues and other metrics, and maintained allegedly deficient internal controls over accounting and financial reporting. The deadline for any putative class member to seek appointment for lead plaintiff and lead counsel was July 20, 2026. The Court set a hearing on the pending motions for appointment of lead plaintiff and lead counsel for September 1, 2026. Defendants are not required to respond to the complaint until after the Court appoints a lead plaintiff and lead counsel and the lead plaintiff identifies or files an operative complaint.
On June 24, 2026, a purported stockholder of the Company filed a shareholder derivative action in the United States District Court for the District of California, captioned Sean Lea v. Ryan S Steelberg et al, No. 8:26-cv-01634 purportedly on behalf of nominal defendant Veritone, Inc., against certain Company executives and Company board members. This lawsuit concerns generally the same factual allegations as asserted in the Securities Action