Sony Pixel Power calrec Sony

Brightcove Announces Financial Results for Second Quarter Fiscal Year 2021

29/07/2021

All Press ReleasesShare

All press releases

Brightcove Announces Financial Results for Second Quarter Fiscal Year 2021

Brightcove Inc. (Nasdaq: BCOV), the global leader in video for business, today announced financial results for the second quarter ended June 30, 2021.BOSTON--(BUSINESS WIRE)--Jul. 28, 2021-- Brightcove Inc. (Nasdaq: BCOV), the global leader in video for business, today announced financial results for the second quarter ended June 30, 2021.

Brightcove's second quarter performance was highlighted by revenue that was ahead of expectations and 33% growth in adjusted EBITDA, said Jeff Ray, Brightcove's Chief Executive Officer. Our customers continue to turn to Brightcove as their trusted partner as they expand their use of video in new and innovative ways to engage with their audiences.

Ray continued, We made good progress across each of our four strategic focus areas that will enhance customer success and retention, accelerate product innovation, and grow our direct and indirect sales efforts. In the near-term, it will take some additional time to complete these initiatives. Longer-term, we are confident we will be on track to hit our long-term financial goal of being a Rule of 40 company.

Second Quarter 2021 Financial Highlights: Revenue for the second quarter of 2021 was $51.5 million, an increase of 7% compared to $47.9 million for the second quarter of 2020. Subscription and support revenue was $48.6 million, an increase of 7% compared to $45.6 million for the second quarter of 2020.

Gross profit for the second quarter of 2021 was $34.2 million, representing a gross margin of 67% compared to a gross profit of $28.0 million and 58% for the second quarter of 2020. Non-GAAP gross profit for the second quarter of 2021 was $34.9 million, representing a non-GAAP gross margin of 68%, compared to a non-GAAP gross profit of $28.6 million and 60% for the second quarter of 2020. Non-GAAP gross profit and non-GAAP gross margin exclude stock-based compensation expense and the amortization of acquired intangible assets.

Income from operations was $590 thousand for the second quarter of 2021, compared to a loss of $1.2 million for the second quarter of 2020. Non-GAAP operating income, which excludes stock-based compensation expense, restructuring, the amortization of acquired intangible assets, merger-related expense and other (benefit) expense, was $4.2 million for the second quarter of 2021, compared to non-GAAP operating income of $3.1 million during the second quarter of 2020.

Net income was $870 thousand, or $0.02 per diluted share, for the second quarter of 2021. This compares to a net loss of $1.3 million, or a loss of $0.03 per diluted share, for the second quarter of 2020. Non-GAAP net income, which excludes stock-based compensation expense, restructuring, the amortization of acquired intangible assets, merger-related expense and other (benefit) expense, was $4.5 million for the second quarter of 2021, or $0.11 per diluted share, compared to non-GAAP net income of $2.9 million for the second quarter of 2020, or $0.07 per diluted share.

Adjusted EBITDA was $5.6 million for the second quarter of 2021, compared to adjusted EBITDA of $4.2 million for the second quarter of 2020. Adjusted EBITDA excludes stock-based compensation expense, merger-related expense, other (benefit) expense, restructuring, the amortization of acquired intangible assets, depreciation expense, other income/expense and the provision for income taxes.

Cash flow provided by operations was $8.0 for the second quarter for 2021, compared to cash flow provided by operations of $2.9 million for the second quarter of 2020.

Free cash flow was $5.7 million after the company invested $2.3 million in capital expenditures and capitalization of internal-use software during the second quarter of 2021. Free cash flow was $516,000 for the second quarter of 2020.

Cash and cash equivalents were $40.4 million as of June 30, 2021 compared to $37.5 million on December 31, 2020.

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 Second Quarter and Recent Highlights: Average annual subscription revenue per premium customer was $92,200 in the second quarter of 2021, excluding starter customers who had average annualized revenue of $4,500 per customer. This compares to $87,200 in the comparable period in 2020.

Recurring dollar retention rate was 86% in the second quarter of 2021, versus our historical target of the low to mid-90 percent range.

Ended the quarter with 3,263 customers, of which 2,280 were premium.

New customers and customers who expanded their relationship during the second quarter include: Black News Channel, Sparrow Live, Dal-Tile Corp, Rooster Teeth Productions, The Edinburgh Fringe Festival, Softbank, TVNZ, and Hydrow.

Established a partnership with Alibaba to create the Brightcove China Delivery via Alibaba Cloud solution, which makes Brightcove the first video provider to enable on-demand video streaming in China. With this new partnership, we are able to solve the challenges that have long hindered enterprise video adoption in China, including government restrictions, video loading or analytic failures, or being blacklisted for not having an in-country domain or license.

Announced a technology partnership with ByteArk, a leading content delivery network (CDN) in Thailand. Together, we will be able to leverage each other's technology to provide media organizations, content owners using OTT platforms and enterprises a flawless viewer experience across any device.

Business OutlookBased on information as of today, July 28, 2021, the Company is issuing the fo
LINK: https://www.brightcove.com/en/company/press/brightcove-anounces-q2-202...
See more stories from brightcove

Most recent headlines

09/11/2025

Dalet Unveils Agentic AI Media Workflows at IBC2025

Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...

15/10/2025

Reporting that changes lives: Announcing the Young Journalist finalists 2025

Across the world, early-career reporters are interrogating systems that shape daily life, from mortuaries and classrooms to the corridors of legal education and...

15/10/2025

St. Louis Blues Pay Tribute to Ozzy Osbourne in New Pregame Open Video

St. Louis Blues Pay Tribute to Ozzy Osbourne in New Pregame Open VideoThe NHL franchise worked with production firms 2WEI and 4th Floor CreativeBy Mark J Burns,...

15/10/2025

Cobalt Digital, G3DVu, Proxima Vision, and Telos Alliance Renew Premier Sponsorships

Cobalt Digital, G3DVu, Proxima Vision, and Telos Alliance Renew Premier Sponsors...

15/10/2025

The Remaining Native Team on the Sundance Institute Labs, Community and More

By Paige Bethmann Before my grandmother passed away in 2019, I went to visit her in the hospital where she'd been for a few weeks. When I arrived, the nurs...

15/10/2025

Spotify Celebrates Two Years of Audiobooks in Premium, Fueling Growth and Discovery Across the Publishing World

Two years ago, Spotify set out to grow the entire publishing industry by making ...

15/10/2025

DJ Levels Up With Spanish-Language Requests, Text Requests, and Personalized Prompts

People turn to DJ for a listening experience that feels personal, dynamic, and j...

15/10/2025

DJ evoluciona con solicitudes en espaol, peticiones por texto y recomendaciones personalizadas

Las personas recurren a DJ para vivir una experiencia de escucha personal, din m...

15/10/2025

Bruce Springsteen and Jeremy Allen White Unite in London for an Exclusive Spotify Conversation and Film Preview

Rock legend Bruce Springsteen and luminary actor Jeremy Allen White came togethe...

15/10/2025

Meet Spotify's RADAR Creators Global Class of 2025, the Next Wave of Podcast Talent

At Spotify, we're all about supporting rising talent and helping them connec...

15/10/2025

New SBS Documentary Series THE CANCER KILLERS Premieres 4 November on SBS & SBS On Demand

New SBS Documentary Series THE CANCER KILLERS Premieres 4 November on SBS & SBS ...

15/10/2025

SBS celebrates the Festivals of Lights with bold, illuminating stories across the network

SBS celebrates the Festivals of Lights with bold, illuminating stories across th...

15/10/2025

Seeking Astrobiological Potential Millions of Miles from Earth

One of humanity's most profound questions continues: Is there any place in our galaxy suitable for life beyond Earth? NASA intends to find out, with the hel...

15/10/2025

Austin PBS Expands Facility-Wide Production Communications with Clear-Com

eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......

15/10/2025

Scality debuts industry-first AI certifications with more...

Scality, a global leader in cyber-resilient storage software for the AI era, today announced the advancement of its comprehensive AI ecosystem certification pro...

15/10/2025

2026 HPA Tech Retreat to Deliver Insight Innovation and I...

The Hollywood Professional Association (HPA) today unveiled key highlights of the 2026 HPA Tech Retreat, scheduled for Feb. 15 19 at the Westin Rancho Mirage Go...

15/10/2025

Interra Systems Drives Quality Compliance and Monetizatio...

At NAB Show New York 2025 (Stand 244), Interra Systems will showcase the future of media QC, monitoring, and captioning, highlighting its award-winning, AI- and...

15/10/2025

RMC BFM Group Selects Grass Valley to Power its Transitio...

Grass Valley today announced that RMC BFM, part of the CMA-CGM Group and France's third-largest private media group, has chosen Grass Valley's productio...

15/10/2025

Appear to Showcase Next-Generation Hybrid Live Production...

Appear, the global leader in live production technology, will demonstrate how its powerful hardware and software innovations are shaping the future of hybrid, s...

15/10/2025

Rakim to Join Berklee's Hip-Hop Hall of Fame at Signature Series Concert

Rakim to Join Berklee's Hip-Hop Hall of Fame at Signature Series Concert The rap icon becomes the latest inductee, following luminaries such as Roxanne Sh...

15/10/2025

Berklee Brings Live Music to the Head of the Charles

Berklee Brings Live Music to the Head of the Charles Student artists will perform on multiple riverfront stages during the 60th anniversary of the world's...

15/10/2025

CobbTV Taps Pebble for Playout Automation

CobbTV, the government access television channel for Cobb County, Ga. recently acquired an automated playout system from Pebble, a global provider of automation...

15/10/2025

Appear to Showcase Next-Generation Hybrid Live Production at NAB Show NY

OSLO, Norway Appear, the global leader in live production technology, will demonstrate how its powerful hardware and software innovations are shaping the future...

15/10/2025

NBA Unveils Updated NBA App and Reimagined' NBA TV

NEW YORK The NBA is making major changes to the NBA App and NBA TV as it takes control of them from TNT Sports, which has long managed the league's digital ...

15/10/2025

DirecTV Announces Major Expansion of Interactive AI-Powered Features

SAN MATEO, Calif. In what promises to be a major expansion of interactive features and personalized content on the DirecTV platform, the operator and Glance hav...

15/10/2025

Roku Upgrades User Interface to Showcase Original Content

SAN JOSE, Calif. Roku has launched changes to its user interface (UI) that the streaming platform says will better showcase original programming on the platform...

15/10/2025

OpenDrives Promotes Alex Dunfey to CTO

LOS ANGELES Software-defined data storage and data services provider OpenDrives has elevated Alex Dunfey to chief technology officer, responsible for driving th...

15/10/2025

Space42 and Autonomous A2Z Partner to Advance Smart Mobility Ecosystem in the UAE

Abu Dhabi, UAE October 15, 2025: Space42 (ADX: SPACE42), the UAE-based AI-powe...

15/10/2025

Third series of Dream Car Fixers confirmed for U and U&YESTERDAY

Sheldon Nichols and Will Trickett to find and prepare more classic cars for budget conscious would-be owners from Wiser Films UKTV have recommissioned the clas...

15/10/2025

Sky celebrates Nick Cave in upcoming one-off special, The Veiled World of Nick Cave (w/t)

Wednesday 15 October 2025 Nick Cave JPEG (275 KB) Explore the creative univer...

15/10/2025

The Textorcist: Brits confess their scariest messaging moments

Wednesday 15 October 2025 From breaking up with your partner to quitting your job - new polling shows some messages are just too scary to send Over a fifth (...

15/10/2025

Rohde & Schwarz unveils compact MXO 3 oscilloscopes with 4 and 8 channels: Advanced performance meets affordability

Rohde & Schwarz unveils compact MXO 3 oscilloscopes with 4 and 8 channels: Advan...

15/10/2025

Revenge Series The Resurrected' Captivates Audiences Across Asia

Back to All News Revenge Series The Resurrected' Captivates Audiences Across Asia Entertainment 15 October 2025 GlobalTaiwan Link copied to clipboard ...

15/10/2025

Bringing the Best in VFX and Virtual Production Together as Eyeline

Back to All News Bringing the Best in VFX and Virtual Production Together as Eyeline Jeffrey Shapiro CEO, Eyeline Business 15 October 2025 GlobalCanadaInd...

15/10/2025

NESN Redefines Regional Sports Video Delivery with Harmonic

Deployed by Astound Business Solutions, Harmonic's Primary Distribution Solution Ensures Outstanding Video Quality and Seamless Ad Insertion at the Edge SA...

15/10/2025

RMC BFM Group Selects Grass Valley to Power its Transition to IP and UHD Production

Collaboration extends a trusted relationship as RMC BFM invests in scalable, fut...

15/10/2025

First look at new RT comedy-drama These Sacred Vows

Series coming in 2026 stars Tom Vaughan-Lawlor, Justine Mitchell and Jason O'Mara released today RT today released first look images of new comedy-drama ...

14/10/2025

SVG Europe Summit 2025: All Sessions Now Available to Watch on SVG PLAY

SVG Europe Summit 2025: All Sessions Now Available to Watch on SVG PLAYNetworking event that preceded IBC2025 shone a light on elite live sports innovation acro...

14/10/2025

SVG Sit-Down: Author Rich Podolsky on Writing Madden & Summerall: How They Revolutionized NFL Broadcasting'

SVG Sit-Down: Author Rich Podolsky on Writing Madden & Summerall: How They Revo...

14/10/2025

SVG All-Stars: Michael Reiners, Coordinating Producer, FloRacing

SVG All-Stars: Michael Reiners, Coordinating Producer, FloRacingThe Illinois State grad steers a vast schedule of motorsports events at tracks across the countr...

14/10/2025

Content Protection: Getting the Right Management for Your DRM

Content protection: Getting the right management for your DRM By Neal Romanek Friday, October 10, 2025 - 10:11 Print This Story Eluvio power the EPCR'...

14/10/2025

As League Takes Over Ops, NBA TV and NBA App Add 60 Games, Weekday Studio Show, Global Matchups, and More

As League Takes Over Ops, NBA TV and NBA App Add 60 Games, Weekday Studio Show, ...

14/10/2025

Time and Effort: World's Largest Student-Led Broadcast Prepares to Go On Air for 24 Hours this Week

Time and effort: World's largest student-led broadcast prepares to go On Air...

14/10/2025

The Perfect Neighbor Takes a Novel Approach to Examining America's Race and Gun Violence

(L-R) Guest, Kimberly Robinson Jones, Geeta Gandbhir, Pamela Dias, and Takema Ro...

14/10/2025

Spotify Premium bietet jetzt verlustfreies Audio fr ein detailreicheres Hrerlebnis

Lossless ist jetzt mit Spotify Premium verf gbar. Verlustfreies Audio war eine...

14/10/2025

La qualit Lossless arrive sur Spotify Premium, pour une exprience d'coute plus riche

La qualit Lossless est disponible sur Spotify Premium. Le format sans perte de...

14/10/2025

Ed Sheeran's Play' Hits the Pitch as Spotify and FC Barcelona Launch Latest El Clsico Jersey Takeover

For the seventh edition of Spotify and FC Barcelona's artist jersey series, ...

14/10/2025

Spotify Expands Managed Accounts for Young Listeners on Premium Family Plans

Spotify is committed to bringing the best listening experience to all our users, and that includes parents and families. That's why we're expanding mana...

14/10/2025

Spotify's Fiction Podcast Caso 63' Reaches an Epic Conclusion

Since its debut, the Spotify Original podcast Caso 63 has been more than just a story; it's been a cultural sensation. The science fiction thriller captivat...