• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Brightcove Announces Financial Results for Third Quarter Fiscal Year 2023

    11/1/23 4:05:00 PM ET
    $BCOV
    $PINS
    $PUBM
    EDP Services
    Technology
    Computer Software: Programming Data Processing
    Technology
    Get the next $BCOV alert in real time by email

    Brightcove Inc. (NASDAQ:BCOV), the world's most trusted streaming technology company, today announced financial results for the third quarter ended September 30, 2023.

    "Our third quarter results were highlighted by double-digit adjusted EBITDA growth and margins, as well as revenue and profitability that were at or above the high end of our guidance ranges. Our continued strength in new business in both our Enterprise and Media end-markets, including important new customer wins, demonstrates the success of our strategy and the long-term opportunity we see. Our focus in the coming quarters is to build upon this success, our market-leading position in streaming, and deliver improved year-over-year revenue and profitability," said Marc DeBevoise, Brightcove's Chief Executive Officer.

    Third Quarter 2023 Financial Highlights:

    • Revenue for the third quarter of 2023 was $51.0 million, a decrease of 5% compared to $53.9 million for the third quarter of 2022. Subscription and support revenue was $48.6 million, a decrease of 6% compared to $51.8 million for the third quarter of 2022.
    • Gross profit for the third quarter of 2023 was $31.7 million, representing a gross margin of 62%, compared to a gross profit of $33.9 million, representing a gross margin of 63% for the third quarter of 2022. Non-GAAP gross profit for the third quarter of 2023 was $32.5 million, representing a non-GAAP gross margin of 64%, compared to a non-GAAP gross profit of $34.5 million, representing a non-GAAP gross margin of 64% for the third quarter of 2022. Non-GAAP gross profit and non-GAAP gross margin exclude stock-based compensation expense, the amortization of acquired intangible assets and restructuring expenses.
    • Loss from operations was $2.3 million for the third quarter of 2023, compared to loss from operations of $821,000 for the third quarter of 2022. Non-GAAP operating income, which excludes stock-based compensation expense, the amortization of acquired intangible assets, merger-related and restructuring expenses and other (benefit) expense, was $2.3 million for the third quarter of 2023, compared to non-GAAP operating income of $2.8 million during the third quarter of 2022.
    • Net loss was $2.4 million, or a loss of $0.06 per diluted share, for the third quarter of 2023. This compares to a net loss of $1.7 million, or $0.04 per diluted share, for the third quarter of 2022. Non-GAAP net income, which excludes stock-based compensation expense, the amortization of acquired intangible assets, merger-related and restructuring expenses and other (benefit) expense, was $2.1 million for the third quarter of 2023, or $0.05 per diluted share, compared to non-GAAP net income of $2.0 million for the third quarter of 2022, or $0.05 per diluted share.
    • Adjusted EBITDA was $5.5 million for the third quarter of 2023, representing an adjusted EBITDA margin of 11% and an increase of 12% compared to adjusted EBITDA of $4.9 million for the third quarter of 2022. Adjusted EBITDA excludes stock-based compensation expense, merger-related and restructuring expenses, other (benefit) expense, the amortization of acquired intangible assets, depreciation expense, other income/expense and the provision for income taxes.
    • Cash flow provided by operations was $2.1 million for the third quarter of 2023, compared to cash flow provided by operations of $10.5 million for the third quarter of 2022.
    • Free cash flow was negative $2.2 million after the company invested $4.3 million in capital expenditures and capitalization of internal-use software during the third quarter of 2023. Free cash flow was positive $4.5 million for the third quarter of 2022.
    • Cash and cash equivalents were $16.4 million as of September 30, 2023 compared to $31.9 million on December 31, 2022.

    ​​A Reconciliation of GAAP to Non-GAAP results has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."

    Other Third Quarter and Recent Highlights/Updates:

    • In the Black Network (ITBN), a new OTT company focused on streaming content that showcases Black storytellers and culture, successfully launched its new streaming service powered by Brightcove's industry-leading technology. In addition, ITBN will be using Brightcove's Ad Monetization service to help maximize its ad revenue opportunities. Other notable media customers signed, renewed or expanded in the third quarter include Academy of Motion Picture Arts and Sciences, Carnegie Hall, CBS Television Network, Coupang, D-League, DogTV, Funny or Die, J:Com, the largest cable company in Japan, The Metropolitan Opera, RayCom Sports, and SBT, one of the largest broadcast media companies in Brazil. Additionally, we extended our leadership with media customers with the successful launches of Yahoo and the NHL on our platform, as they deliver compelling viewing experiences to their millions of customers by utilizing our end-to-end solutions.
    • Announced that Acquia, the digital experience leader with Drupal at its core, has selected Brightcove to power its video marketing strategy. By leveraging the Brightcove platform, Acquia will be better able to reach current and prospective customers with market and technology trends that will increase engagement and ultimately conversion. Other notable enterprise customers signed, renewed or expanded in the third quarter include a mix of Technology, Financial Services, Consumer/Retail and other companies, including: AMC Theatres, Autodesk, Bain & Company, Blackstone, Build-a-Bear, Chick-Fil-A, CNC Technologies, Docusign, Estee Lauder, Navy Federal Credit Union, NYU Langone Health, Palo Alto Networks, ServiceNow, Tyson Foods, and VMWare.
    • Named the winner of the "Best Overall Marketing Campaign Management Solution" award in the 6th annual MarTech Breakthrough Awards program, as our robust technology stack and resources demonstrated the ability to help customers enhance the viewer experience and increase audience engagement across enterprise and media customers.
    • Expanded the capabilities of our platform with the successful launch of Brightcove Ad Insights, which uses machine learning models and proprietary metrics, to provide Brightcove customers with detailed analytics and insights that accurately portray viewer tolerance for ads, enabling them to optimize their ad load without disrupting the audience experience and retention. We also added PubMatic (NASDAQ:PUBM), via a previously announced partnership, as a new source of demand to our Brightcove Ad Monetization capabilities. Additionally, we extended our social distribution capabilities to include Pinterest (NASDAQ:PINS), a key social platform for our enterprise customers using video to move ecommerce.
    • 12-month Backlog (which we define as the aggregate amount of committed subscription revenue related to future performance obligations in the next 12 months) was $121.1 million. This represents a 6% increase year-over-year over $113.8 million at the end of the third quarter of 2022. Total backlog was $174.2 million, a 21% increase year-over-year over $144.1 million at the end of the third quarter 2022.
    • Average annual subscription revenue per premium customer was $95,900 in the third quarter of 2023, excluding starter customers who had average annualized revenue of $3,800 per customer. The average annual subscription revenue per premium customer compares to $95,900 in the third quarter of 2022.
    • Ended the third quarter of 2023 with 2,618 customers, of which 2,077 were premium.

    Business Outlook:

    Based on information as of today, November 1, 2023, the Company is issuing the following business updates and financial guidance

    Fourth Quarter 2023 Guidance:

    • Revenue is expected to be in the range of $49.0 million to $51.0 million, including approximately $2.6 million of professional services revenue and $0.9 million of overages.
    • Non-GAAP income from operations is expected to be in the range of $0.3 million to $2.3 million, which excludes stock-based compensation of approximately $3.5 million and the amortization of acquired intangible assets of approximately $1.0 million.
    • Adjusted EBITDA is expected to be in the range of $4.0 million to $6.0 million, which excludes stock-based compensation of approximately $3.5 million, the amortization of acquired intangible assets of approximately $1.0 million, depreciation expense of approximately $3.7 million, and other (income) expense and the provision for income taxes of approximately $0.3 million.
    • Non-GAAP net income per diluted share is expected to be $0.00 to $0.05, which excludes stock-based compensation of approximately $3.5 million, the amortization of acquired intangible assets of approximately $1.0 million, and assumes approximately 43.7 million weighted-average shares outstanding.

    Full Year 2023 Guidance:

    • Revenue is expected to be in the range of $200.0 million to $202.0 million, including approximately $8.9 million of professional services revenue and $4.8 million of overages.
    • Non-GAAP loss from operations is expected to be in the range of ($2.5) million to ($0.5) million, which excludes stock-based compensation of approximately $13.9 million, the amortization of acquired intangible assets of approximately $4.0 million, merger-related expense of approximately $0.3 million, and restructuring expense of $2.8 million.
    • Adjusted EBITDA is expected to be in the range of $10.4 million to $12.4 million, which excludes stock-based compensation of approximately $13.9 million, the amortization of acquired intangible assets of approximately $4.0 million, merger-related expense of approximately $0.3 million, restructuring expense of $2.8 million, depreciation expense of approximately $12.9 million, and other (income) expense and the provision for income taxes of approximately $1.3 million.
    • Non-GAAP loss per diluted share is expected to be ($0.09) to ($0.04), which excludes stock-based compensation of approximately $13.9 million, the amortization of acquired intangible assets of approximately $4.0 million, merger-related expense of approximately $0.3 million, restructuring expense of $2.8 million, and assumes approximately 43.0 million weighted-average shares outstanding.

    Earnings Stream Information:

    Brightcove earnings will be streamed on November 1, 2023, at 5:00 p.m. (Eastern Time) to discuss the Company's financial results and current business outlook. To access the live stream, visit the "Investors" page of the Company's website, http://investor.brightcove.com. Once the live stream concludes, an on-demand recording will be available on Brightcove's Investor page for a limited time at http://investor.brightcove.com.

    About Brightcove Inc. (NASDAQ:BCOV)

    Brightcove creates the world's most reliable, scalable, and secure streaming technology solutions to build a greater connection between companies and their audiences, no matter where they are or on which devices they consume content. In more than 60 countries, Brightcove's intelligent video platform enables businesses to sell to customers more effectively, media leaders to stream and monetize content more reliably, and every organization to communicate with team members more powerfully. With two Technology and Engineering Emmy® Awards for innovation, uptime that consistently leads the industry, and unmatched scalability, we continuously push the boundaries of what video can do. Follow on LinkedIn, Twitter, Facebook, Instagram and YouTube. Visit www.brightcove.com.

    Forward-Looking Statements

    This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning our financial guidance for the fourth fiscal quarter and full year 2023, our position to execute on our growth strategy, the effects of our restructuring efforts, and our ability to expand our leadership position and market opportunity. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation: the effect of macro-economic conditions currently affecting the global economy; our ability to retain existing customers and acquire new ones; our history of losses; expectations regarding the widespread adoption of customer demand for our products; the effects of increased competition and commoditization of services we offer, including data delivery and storage; keeping up with the rapid technological change required to remain competitive in our industry; our ability to manage our growth effectively and successfully recruit additional highly-qualified personnel; our reduction in force, including risks that the related costs and charges may be greater than anticipated and that the restructuring efforts may not generate their intended benefits, may adversely affect the Company's internal programs and the Company's ability to recruit and train skilled and motivated personnel, and may be distracting to employees and management; the price volatility of our common stock; and other risks set forth under the caption "Risk Factors" in our most recently filed Annual Report on Form 10-K and similar disclosures in our subsequent filings with the SEC. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

    Non-GAAP Financial Measures

    Brightcove has provided in this release the non-GAAP financial measures of non-GAAP gross profit, non-GAAP gross margin, non-GAAP income (loss) from operations, non-GAAP net income (loss), adjusted EBITDA, non-GAAP diluted net income (loss) per share, and revenue and adjusted EBITDA on a constant currency basis. Brightcove uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating Brightcove's ongoing operational performance. Brightcove believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in Brightcove's industry, many of which present similar non-GAAP financial measures to investors. As noted, the non-GAAP financial results discussed above of non-GAAP gross profit, non-GAAP gross margin, non-GAAP income (loss) from operations, non-GAAP net income (loss) and non-GAAP diluted net income (loss) per share exclude stock-based compensation expense, amortization of acquired intangible assets, merger-related and restructuring expenses, restructuring and other (benefit) expense. The non-GAAP financial results discussed above of adjusted EBITDA is defined as consolidated net income (loss), plus other income/expense, including interest expense and interest income, the provision for income taxes, depreciation expense, the amortization of acquired intangible assets, stock-based compensation expense, merger-related and restructuring expenses, restructuring and other (benefit) expense. Merger-related expenses include fees incurred in connection with an acquisition and restructuring expenses include primarily cash severance costs. Revenue and adjusted EBITDA on a constant currency basis reflect our revenues and adjusted EBITDA using exchange rates used for Brightcove's Fiscal Year 2023 outlook on Brightcove's press release on February 23, 2023. Non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. As previously mentioned, a reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release. The Company's earnings press releases containing such non-GAAP reconciliations can be found on the Investors section of the Company's web site at http://www.brightcove.com.

    Brightcove Inc.
    Condensed Consolidated Balance Sheets
    (in thousands)
     
    September 30, 2023 December 31, 2022
    Assets
    Current assets:
    Cash and cash equivalents

    $

    16,422

     

    $

    31,894

     

    Accounts receivable, net of allowance

     

    30,262

     

     

    26,004

     

    Prepaid expenses and other current assets

     

    19,743

     

     

    19,422

     

    Total current assets

     

    66,427

     

     

    77,320

     

    Property and equipment, net

     

    42,730

     

     

    39,677

     

    Operating lease right-of-use asset

     

    16,823

     

     

    18,671

     

    Intangible assets, net

     

    7,290

     

     

    10,279

     

    Goodwill

     

    74,859

     

     

    74,859

     

    Other assets

     

    6,016

     

     

    7,007

     

    Total assets

    $

    214,145

     

    $

    227,813

     

    Liabilities and stockholders' equity
    Current liabilities:
    Accounts payable

    $

    13,857

     

    $

    11,326

     

    Accrued expenses

     

    17,519

     

     

    26,877

     

    Operating lease liability

     

    4,403

     

     

    4,157

     

    Deferred revenue

     

    67,248

     

     

    61,597

     

    Total current liabilities

     

    103,027

     

     

    103,957

     

    Operating lease liability, net of current portion

     

    18,143

     

     

    20,528

     

    Other liabilities

     

    673

     

     

    981

     

    Total liabilities

     

    121,843

     

     

    125,466

     

     
    Stockholders' equity:
    Common stock

     

    44

     

     

    42

     

    Additional paid-in capital

     

    325,402

     

     

    314,825

     

    Treasury stock, at cost

     

    (871

    )

     

    (871

    )

    Accumulated other comprehensive loss

     

    (1,845

    )

     

    (1,593

    )

    Accumulated deficit

     

    (230,428

    )

     

    (210,056

    )

    Total stockholders' equity

     

    92,302

     

     

    102,347

     

    Total liabilities and stockholders' equity

    $

    214,145

     

    $

    227,813

     

     
    Brightcove Inc.
    Condensed Consolidated Statements of Operations
    (in thousands, except per share amounts)
     
     
    Three Months Ended September 30, Nine Months Ended September 30,

     

    2023

     

     

    2022

     

     

    2023

     

     

    2022

     

    Revenue:
    Subscription and support revenue

    $

    48,571

     

    $

    51,814

     

    $

    144,686

     

    $

    156,403

     

    Professional services and other revenue

     

    2,409

     

     

    2,130

     

     

    6,345

     

     

    5,367

     

    Total revenue

     

    50,980

     

     

    53,944

     

     

    151,031

     

     

    161,770

     

    Cost of revenue: (1) (2)
    Cost of subscription and support revenue

     

    16,892

     

     

    18,247

     

     

    51,760

     

     

    52,172

     

    Cost of professional services and other revenue

     

    2,369

     

     

    1,816

     

     

    6,269

     

     

    5,575

     

    Total cost of revenue

     

    19,261

     

     

    20,063

     

     

    58,029

     

     

    57,747

     

    Gross profit

     

    31,719

     

     

    33,881

     

     

    93,002

     

     

    104,023

     

    Operating expenses: (1) (2)
    Research and development

     

    8,730

     

     

    7,931

     

     

    28,941

     

     

    24,540

     

    Sales and marketing

     

    17,222

     

     

    19,023

     

     

    55,721

     

     

    55,272

     

    General and administrative

     

    7,941

     

     

    7,748

     

     

    27,410

     

     

    24,391

     

    Merger-related

     

    117

     

     

    -

     

     

    307

     

     

    747

     

    Other expense

     

    -

     

     

    -

     

     

    -

     

     

    1,149

     

    Total operating expenses

     

    34,010

     

     

    34,702

     

     

    112,379

     

     

    106,099

     

    Loss from operations

     

    (2,291

    )

     

    (821

    )

     

    (19,377

    )

     

    (2,076

    )

    Other income (expense), net

     

    130

     

     

    (668

    )

     

    9

     

     

    (1,880

    )

    Loss before income taxes

     

    (2,161

    )

     

    (1,489

    )

     

    (19,368

    )

     

    (3,956

    )

    Loss (benefit) from provision for income taxes

     

    260

     

     

    191

     

     

    1,004

     

     

    (338

    )

    Net loss

    $

    (2,421

    )

    $

    (1,680

    )

    $

    (20,372

    )

    $

    (3,618

    )

     
    Net loss per share—basic and diluted
    Basic

    $

    (0.06

    )

    $

    (0.04

    )

    $

    (0.47

    )

    $

    (0.09

    )

    Diluted

     

    (0.06

    )

     

    (0.04

    )

     

    (0.47

    )

     

    (0.09

    )

     
    Weighted-average shares—basic and diluted
    Basic

     

    43,332

     

     

    41,972

     

     

    42,976

     

     

    41,712

     

    Diluted

     

    43,332

     

     

    41,972

     

     

    42,976

     

     

    41,712

     

     
    (1) Stock-based compensation included in above line items:
    Cost of subscription and support revenue

    $

    122

     

    $

    132

     

    $

    389

     

    $

    385

     

    Cost of professional services and other revenue

     

    92

     

     

    76

     

     

    284

     

     

    334

     

    Research and development

     

    598

     

     

    378

     

     

    1,837

     

     

    2,035

     

    Sales and marketing

     

    1,057

     

     

    1,015

     

     

    3,157

     

     

    2,857

     

    General and administrative

     

    1,541

     

     

    1,245

     

     

    4,773

     

     

    4,109

     

    Other expense

     

    -

     

     

    -

     

     

    -

     

     

    249

     

     
    (2) Amortization of acquired intangible assets included in the above line items:
    Cost of subscription and support revenue

    $

    547

     

    $

    376

     

    $

    1,749

     

    $

    1,156

     

    Sales and marketing

     

    406

     

     

    417

     

     

    1,239

     

     

    1,246

     

     
    Brightcove Inc.
    Condensed Consolidated Statements of Cash Flows
    (in thousands)
     
    Nine Months Ended September 30,
    Operating activities

     

    2023

     

     

    2022

     

    Net loss

    $

    (20,372

    )

    $

    (3,618

    )

    Adjustments to reconcile net loss to net cash used in operating activities:
    Depreciation and amortization

     

    12,244

     

     

    7,141

     

    Stock-based compensation

     

    10,440

     

     

    9,969

     

    Provision for reserves on accounts receivable

     

    138

     

     

    166

     

    Changes in assets and liabilities:
    Accounts receivable

     

    (4,556

    )

     

    (1,871

    )

    Prepaid expenses and other current assets

     

    (684

    )

     

    (1,351

    )

    Other assets

     

    1,042

     

     

    38

     

    Accounts payable

     

    3,065

     

     

    863

     

    Accrued expenses

     

    (6,737

    )

     

    (242

    )

    Operating leases

     

    (291

    )

     

    5,202

     

    Deferred revenue

     

    6,017

     

     

    3,452

     

    Net cash provided by (used in) operating activities

     

    306

     

     

    19,749

     

     
    Investing activities
    Cash paid for acquisition, net of cash acquired

     

    -

     

     

    (13,215

    )

    Purchases of property and equipment, net of returns

     

    (2,820

    )

     

    (8,617

    )

    Capitalization of internal-use software costs

     

    (10,037

    )

     

    (9,678

    )

    Net cash used in investing activities

     

    (12,857

    )

     

    (31,510

    )

     
    Financing activities
    Proceeds from exercise of stock options

     

    -

     

     

    142

     

    Deferred acquisition payments

     

    (1,700

    )

     

    -

     

    Other financing activities

     

    (256

    )

     

    (50

    )

    Net cash (used in) provided by financing activities

     

    (1,956

    )

     

    92

     

     
    Effect of exchange rate changes on cash and cash equivalents

     

    (965

    )

     

    (2,722

    )

     
    Net decrease in cash and cash equivalents

     

    (15,472

    )

     

    (14,391

    )

    Cash and cash equivalents at beginning of period

     

    31,894

     

     

    45,739

     

    Cash and cash equivalents at end of period

    $

    16,422

     

    $

    31,348

     

     
     
    Brightcove Inc.
    Reconciliation of GAAP Gross Profit, GAAP Loss (Income) From Operations, GAAP Net Loss and GAAP Net Loss Per Share to
    Non-GAAP Gross Profit, Non-GAAP Income (Loss) From Operations, Non-GAAP Net (Loss) Income and Non-GAAP Net (Loss) Income Per Share
    (in thousands, except per share amounts)
     
     
    Three Months Ended September 30, Nine Months Ended September 30,

     

    2023

     

     

    2022

     

     

    2023

     

     

    2022

     

    GROSS PROFIT:
    GAAP gross profit

    $

    31,719

     

    $

    33,881

     

    $

    93,002

     

    $

    104,023

     

    Stock-based compensation expense

     

    214

     

     

    208

     

     

    673

     

     

    719

     

    Amortization of acquired intangible assets

     

    547

     

     

    376

     

     

    1,749

     

     

    1,156

     

    Restructuring

     

    6

     

     

    -

     

     

    104

     

     

    -

     

    Non-GAAP gross profit

    $

    32,486

     

    $

    34,465

     

    $

    95,528

     

    $

    105,898

     

    GAAP gross profit as a percentage of revenue

     

    62

    %

     

    63

    %

     

    62

    %

     

    64

    %

    Stock-based compensation expense

     

    0.4

    %

     

    0.4

    %

     

    0.4

    %

     

    0.4

    %

    Amortization of acquired intangible assets

     

    1.1

    %

     

    0.7

    %

     

    1.2

    %

     

    0.7

    %

    Restructuring

     

    0.0

    %

     

    0.0

    %

     

    0.1

    %

     

    0.0

    %

    Non-GAAP gross profit as a percentage of revenue

     

    64

    %

     

    64

    %

     

    63

    %

     

    65

    %

    INCOME (LOSS) FROM OPERATIONS:
    GAAP loss from operations

    $

    (2,291

    )

    $

    (821

    )

    $

    (19,377

    )

    $

    (2,076

    )

    Stock-based compensation expense

     

    3,410

     

     

    2,846

     

     

    10,440

     

     

    9,720

     

    Amortization of acquired intangible assets

     

    953

     

     

    793

     

     

    2,988

     

     

    2,402

     

    Merger-related

     

    117

     

     

    -

     

     

    307

     

     

    747

     

    Restructuring

     

    74

     

     

    -

     

     

    2,830

     

     

    -

     

    Other expense

     

    -

     

     

    -

     

     

    -

     

     

    1,149

     

    Non-GAAP income (loss) from operations

    $

    2,263

     

    $

    2,818

     

    $

    (2,812

    )

    $

    11,942

     

    NET INCOME (LOSS):
    GAAP net loss

    $

    (2,421

    )

    $

    (1,680

    )

    $

    (20,372

    )

    $

    (3,618

    )

    Stock-based compensation expense

     

    3,410

     

     

    2,846

     

     

    10,440

     

     

    9,720

     

    Amortization of acquired intangible assets

     

    953

     

     

    793

     

     

    2,988

     

     

    2,402

     

    Merger-related

     

    117

     

     

    -

     

     

    307

     

     

    747

     

    Restructuring

     

    74

     

     

    -

     

     

    2,830

     

     

    -

     

    Other expense

     

    -

     

     

    -

     

     

    -

     

     

    1,149

     

    Non-GAAP net income (loss)

    $

    2,133

     

    $

    1,959

     

    $

    (3,807

    )

    $

    10,400

     

    GAAP diluted net loss per share

    $

    (0.06

    )

    $

    (0.04

    )

    $

    (0.47

    )

    $

    (0.09

    )

    Non-GAAP diluted net income (loss) per share

    $

    0.05

     

    $

    0.05

     

    $

    (0.09

    )

    $

    0.25

     

     
    Shares used in computing GAAP diluted net loss per share

     

    43,332

     

     

    41,972

     

     

    42,976

     

     

    41,712

     

    Shares used in computing Non-GAAP diluted net income per share

     

    43,364

     

     

    42,148

     

     

    42,976

     

     

    42,080

     

     
    Brightcove Inc.
    Calculation of Adjusted EBITDA
    (in thousands)
     
     
    Three Months Ended September 30, Nine Months Ended September 30,

     

    2023

     

     

    2022

     

     

    2023

     

     

    2022

     

    Net loss

    $

    (2,421

    )

    $

    (1,680

    )

    $

    (20,372

    )

    $

    (3,618

    )

    Other expense, net

     

    (130

    )

     

    668

     

     

    (9

    )

     

    1,880

     

    Loss (benefit) from income taxes

     

    260

     

     

    191

     

     

    1,004

     

     

    (338

    )

    Depreciation and amortization

     

    4,236

     

     

    2,914

     

     

    12,244

     

     

    7,141

     

    Stock-based compensation expense

     

    3,410

     

     

    2,846

     

     

    10,440

     

     

    9,720

     

    Merger-related

     

    117

     

     

    -

     

     

    307

     

     

    747

     

    Restructuring

     

    74

     

     

    -

     

     

    2,830

     

     

    -

     

    Other expense

     

    -

     

     

    -

     

     

    -

     

     

    1,149

     

    Adjusted EBITDA

    $

    5,546

     

    $

    4,939

     

    $

    6,444

     

    $

    16,681

     

     

    Brightcove Inc.

    Reconciliation of Revenue on a Constant Currency Basis and Calculation of Adjusted EBITDA on a Constant Currency Basis

    (in thousands)

       
       
     

    Three Months Ended September 30,

     

    Nine Months Ended September 30,

     

    2023

     

    2023

    Total revenue  

    $

    50,980

     

    $

    151,031

    Constant currency adjustment  

     

    323

     

     

    161

    Total revenue on a constant currency basis  

    $

    51,303

     

    $

    151,192

       
       
     

    Three Months Ended September 30,

     

    Nine Months Ended September 30,

     

    2023

     

    2023

    Adjusted EBITDA  

    $

    5,546

     

    $

    6,444

    Constant currency adjustment  

     

    636

     

     

    860

    Adjusted EBITDA on a constant currency basis  

    $

    6,182

     

    $

    7,304

       

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20231101298742/en/

    Get the next $BCOV alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $BCOV
    $PINS
    $PUBM

    CompanyDatePrice TargetRatingAnalyst
    Pinterest Inc.
    $PINS
    6/3/2025$40.00Neutral → Overweight
    Analyst
    Pinterest Inc.
    $PINS
    5/15/2025$40.00Peer Perform → Outperform
    Wolfe Research
    Pinterest Inc.
    $PINS
    5/9/2025$42.00 → $38.00Equal Weight
    Barclays
    Pinterest Inc.
    $PINS
    5/9/2025$38.00 → $41.00Buy
    Citigroup
    Pinterest Inc.
    $PINS
    5/9/2025$37.00 → $40.00Overweight
    KeyBanc Capital Markets
    Pinterest Inc.
    $PINS
    5/9/2025$30.00 → $35.00Neutral
    Analyst
    Pinterest Inc.
    $PINS
    5/9/2025$40.00 → $39.00Buy
    Guggenheim
    Pinterest Inc.
    $PINS
    5/9/2025$38.00 → $40.00Outperform
    Wedbush
    More analyst ratings

    $BCOV
    $PINS
    $PUBM
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Pinterest upgraded by Analyst with a new price target

      Analyst upgraded Pinterest from Neutral to Overweight and set a new price target of $40.00

      6/3/25 7:25:59 AM ET
      $PINS
      Computer Software: Programming Data Processing
      Technology
    • Pinterest upgraded by Wolfe Research with a new price target

      Wolfe Research upgraded Pinterest from Peer Perform to Outperform and set a new price target of $40.00

      5/15/25 8:06:26 AM ET
      $PINS
      Computer Software: Programming Data Processing
      Technology
    • Barclays reiterated coverage on Pinterest with a new price target

      Barclays reiterated coverage of Pinterest with a rating of Equal Weight and set a new price target of $38.00 from $42.00 previously

      5/9/25 11:42:08 AM ET
      $PINS
      Computer Software: Programming Data Processing
      Technology

    $BCOV
    $PINS
    $PUBM
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • CHIEF GROWTH OFFICER Klimenko Paulina converted options into 21,335 shares and sold $102,353 worth of shares (8,147 units at $12.56), increasing direct ownership by 34% to 51,780 units (SEC Form 4)

      4 - PubMatic, Inc. (0001422930) (Issuer)

      7/3/25 6:43:40 PM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology
    • PRESIDENT, ENGINEERING Kumar Mukul converted options into 13,861 shares and sold $67,415 worth of shares (5,366 units at $12.56), increasing direct ownership by 14% to 68,960 units (SEC Form 4)

      4 - PubMatic, Inc. (0001422930) (Issuer)

      7/3/25 6:42:36 PM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology
    • GENERAL COUNSEL & SECRETARY Woods Andrew converted options into 11,496 shares and sold $51,309 worth of shares (4,084 units at $12.56), increasing direct ownership by 20% to 44,130 units (SEC Form 4)

      4 - PubMatic, Inc. (0001422930) (Issuer)

      7/3/25 6:40:56 PM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology

    $BCOV
    $PINS
    $PUBM
    SEC Filings

    See more
    • SEC Form 144 filed by Pinterest Inc.

      144 - PINTEREST, INC. (0001506293) (Subject)

      6/18/25 5:39:51 PM ET
      $PINS
      Computer Software: Programming Data Processing
      Technology
    • SEC Form 144 filed by Pinterest Inc.

      144 - PINTEREST, INC. (0001506293) (Subject)

      6/18/25 5:01:21 PM ET
      $PINS
      Computer Software: Programming Data Processing
      Technology
    • Pinterest Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders, Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year, Financial Statements and Exhibits

      8-K - PINTEREST, INC. (0001506293) (Filer)

      5/27/25 4:08:47 PM ET
      $PINS
      Computer Software: Programming Data Processing
      Technology

    $BCOV
    $PINS
    $PUBM
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Large owner Edenbrook Capital, Llc bought $50,415 worth of shares (16,806 units at $3.00) (SEC Form 4)

      4 - BRIGHTCOVE INC (0001313275) (Issuer)

      11/25/24 4:32:34 PM ET
      $BCOV
      EDP Services
      Technology
    • Large owner Edenbrook Capital, Llc bought $23,595 worth of shares (11,369 units at $2.08) (SEC Form 4)

      4 - BRIGHTCOVE INC (0001313275) (Issuer)

      10/22/24 4:22:21 PM ET
      $BCOV
      EDP Services
      Technology
    • Large owner Edenbrook Capital, Llc bought $41,400 worth of shares (20,000 units at $2.07) (SEC Form 4)

      4 - BRIGHTCOVE INC (0001313275) (Issuer)

      9/30/24 4:50:34 PM ET
      $BCOV
      EDP Services
      Technology

    $BCOV
    $PINS
    $PUBM
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Cushman & Wakefield Announces Changes to its Board of Directors

      Retirement of Brett White as Chairman Appointment of Steve Plavin as Chairman and Independent Director Appointment of Susan Daimler and Timothy Wennes as Independent Directors Cushman & Wakefield (NYSE:CWK) today announced that after more than a decade of service to the company, Brett White will retire from its Board of Directors, marking an inflection point in the company's journey. "Brett has been instrumental in shaping the Cushman & Wakefield we see today, serving in roles as CEO, Executive Chairman, and later, Non-Executive Chairman," remarked Michelle MacKay, Chief Executive Officer. "His unwavering commitment to his vision for the company has left an indelible mark. Brett

      6/23/25 9:00:00 AM ET
      $BXMT
      $CWK
      $OHI
      $PUBM
      Real Estate Investment Trusts
      Real Estate
      Finance
      Computer Software: Programming Data Processing
    • Instacart and Pinterest to Launch New Retail Media Collaboration

      New capability leverages first-party data and will make Pinterest ads directly shoppable via Instacart SAN FRANCISCO and CANNES, France, June 16, 2025 /PRNewswire/ -- Instacart (NASDAQ:CART) and Pinterest (NYSE:PINS) are enhancing brands' Pinterest campaigns by providing high-intent audiences powered by Instacart data. The new collaboration aims to connect Pinterest users with the products they love, in the exact moment they're planning to use them, whether they're meal-prepping for the week, planning a backyard movie night, or redecorating an office. In the initial phase of t

      6/16/25 3:00:00 AM ET
      $CART
      $PINS
      Business Services
      Consumer Discretionary
      Computer Software: Programming Data Processing
      Technology
    • PubMatic and Classify Revolutionize Contextual Advertising with ContentGraph™ Integration

      SAN FRANCISCO, June 12, 2025 (GLOBE NEWSWIRE) -- PubMatic (NASDAQ:PUBM), an independent technology company shaping the future of digital advertising's supply chain, today announced a partnership with Classify, the AI-native platform revolutionizing digital advertising through deep semantic classification and precise contextual targeting. Classify's ContentGraph™ is an AI-powered content intelligence platform that delivers hyper-precise URL-level contextual segments, exceeding the limitations of traditional adtech. This technology is now integrated into PubMatic, which operates one of the largest SSPs, enabling the creation of granular contextual segments and PMP Deal IDs that can be point

      6/12/25 9:00:00 AM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology

    $BCOV
    $PINS
    $PUBM
    Leadership Updates

    Live Leadership Updates

    See more
    • PubMatic and Spectrum Reach Partner to Enhance Demand, Efficiency and Curation Across CTV Marketplace

      REDWOOD CITY, Calif. and NEW YORK, April 09, 2025 (GLOBE NEWSWIRE) -- PubMatic (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future and Spectrum Reach, the advertising sales business of Charter Communications, today announced a new partnership that will bring increased demand and efficient buying to Spectrum Reach's advertising inventory while strengthening PubMatic's curated packages with local news and live sports offered through its Connected TV (CTV) Marketplace. Through this partnership, PubMatic will connect advertisers to audiences across Spectrum Reach's entire footprint. Spectrum Reach offers access to more than 450 stream

      4/9/25 8:00:00 AM ET
      $CHTR
      $PUBM
      Cable & Other Pay Television Services
      Telecommunications
      Computer Software: Programming Data Processing
      Technology
    • PubMatic and DIGITS Agency Bring Advanced AdTech to Local Grocery and Convenience Stores

      NO-HEADQUARTERS/REDWOOD CITY, Calif., Nov. 22, 2024 (GLOBE NEWSWIRE) -- DIGITS, a leading independent retail media agency, and PubMatic (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, announce their strategic partnership to leverage PubMatic's Convert, a scalable full-funnel commerce media platform, to monetize digital grocery advertising inventory and audiences programmatically with omnichannel, closed-loop reporting. With digital grocery shopping in the United States projected to surpass $200 billion for the first time in 2024 (per EMARKETER), this partnership will empower a robust network of regional grocers, convenience stor

      11/22/24 8:00:00 AM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology
    • PubMatic Announces Key Executive Hires to Bolster Commerce Media Growth and Innovation

      NO-HEADQUARTERS/REDWOOD CITY, Calif., June 25, 2024 (GLOBE NEWSWIRE) -- PubMatic (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, is pleased to announce the addition of two executives to its commerce media team. These strategic hires will play a crucial role in advancing PubMatic's Convert product and expanding its impact across the commerce media landscape. Tim Rogers, Vice President of Commerce Media, will report to Amar Goel, the company's Founder, Chairman, and Chief Innovation Officer, and lead PubMatic's global commerce media strategy, focusing on revenue growth and strengthening the company's market position. Rogers bring

      6/25/24 9:00:00 AM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology

    $BCOV
    $PINS
    $PUBM
    Financials

    Live finance-specific insights

    See more
    • Pinterest Announces First Quarter 2025 Results, Delivers 16% Revenue Growth and Record Users

      Q1 Revenue of $855 million, an increase of 16%, or 17% on a constant currency basis Record 570 million global monthly active users, an increase of 10% Pinterest, Inc. (NYSE:PINS) today announced financial results for the quarter ended March 31, 2025. Revenue was $855 million, growing 16% year over year. On a constant currency basis, revenue would have grown 17% year over year. Global Monthly Active Users ("MAUs") increased 10% year over year to 570 million. GAAP net income was $9 million and Adjusted EBITDA was $172 million. Net cash provided by operating activities was $364 million and free cash flow was $356 million. "Our strong results in the first quarter demonstrate continu

      5/8/25 4:06:00 PM ET
      $PINS
      Computer Software: Programming Data Processing
      Technology
    • PubMatic Announces First Quarter 2025 Financial Results; Board of Directors Authorizes $100M Expansion of Share Repurchase Program

      Delivered revenue and adjusted EBITDA ahead of guidance; Revenue from omnichannel video, including CTV, grew 20% and was 40% of total revenue; CTV revenue grew over 50% year-over-year; and Supply Path Optimization represented a record 55%+ of total activity NO-HEADQUARTERS/REDWOOD CITY, Calif., May 08, 2025 (GLOBE NEWSWIRE) -- PubMatic, Inc. (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, today reported financial results for the first quarter ending March 31, 2025. "We are pleased with our Q1 performance, exceeding guidance on both the top and bottom line driven by the secular growth areas in our business. Ongoing investmen

      5/8/25 4:05:05 PM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology
    • PubMatic to Announce First Quarter 2025 Financial Results on May 8, 2025

      NO-HEADQUARTERS/REDWOOD CITY, Calif., April 17, 2025 (GLOBE NEWSWIRE) -- PubMatic, Inc. (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, today announced that it will release its financial results for the first quarter ended March 31, 2025 after market close on May 8, 2025. On that day, PubMatic will host a webcast at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss the company's financial results.  Webcast Details  What: PubMatic's First Quarter 2025 Earnings Webcast When: Thursday, May 8, 2025, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) Webcast: A live and archived webcast can be accessed from the News & Even

      4/17/25 4:30:01 PM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology

    $BCOV
    $PINS
    $PUBM
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Pinterest Inc.

      SC 13G/A - PINTEREST, INC. (0001506293) (Subject)

      12/6/24 10:11:26 AM ET
      $PINS
      Computer Software: Programming Data Processing
      Technology
    • SEC Form SC 13G filed by Brightcove Inc.

      SC 13G - BRIGHTCOVE INC (0001313275) (Subject)

      12/3/24 5:05:52 PM ET
      $BCOV
      EDP Services
      Technology
    • Amendment: SEC Form SC 13G/A filed by Brightcove Inc.

      SC 13G/A - BRIGHTCOVE INC (0001313275) (Subject)

      11/7/24 10:26:54 AM ET
      $BCOV
      EDP Services
      Technology