Brightcove Announces Financial Results for Second Quarter 2013 July 25, 2013 / Brightcove Press Release
BOSTON, MA (July 25, 2013) Brightcove Inc. (NASDAQ: BCOV), a leading global provider of cloud content services, today announced financial results for the quarter ended June 30, 2013.
"Brightcove delivered strong second quarter results highlighted by revenue and profitability that exceeded the high end of our guidance," said David Mendels, Chief Executive Officer of Brightcove. "We are seeing strong demand across a wide variety of industries as our customers embrace the use of digital content as a way to drive deeper levels of engagement with their customers. During the quarter we delivered exciting new technology to the market that enhances our market leadership position and strengthens our ability to penetrate the multi-billion dollar online video platform market."
Second Quarter 2013 Financial Highlights:
Revenue: Total revenue for the second quarter of 2013 was $26.9 million, an increase of 24% compared to $21.6 million for the second quarter of 2012. Subscription and support revenue was $25.6 million, an increase of 23% compared with $20.7 million for the second quarter of 2012. Professional services and other revenue was $1.3 million, compared to $902,000 for the second quarter of 2012.
Gross Profit: Gross profit for the second quarter of 2013 was $17.7 million, compared to $15.2 million for the second quarter of 2012, and gross margin was 66% for the second quarter of 2013. Non-GAAP gross profit for the second quarter of 2013 was $18.1 million, representing a year-over-year increase of 18% and a non-GAAP gross margin of 67%. Non-GAAP gross profit and non-GAAP gross margin exclude stock-based compensation expense and the amortization of acquired intangible assets.
Loss from Operations: Loss from operations was $3.3 million for the second quarter of 2013, compared to a loss of $3.9 million for the second quarter of 2012. Non-GAAP loss from operations, which excludes stock-based compensation expense, the amortization of acquired intangible assets and merger-related expenses, was $874,000 for the second quarter of 2013, compared to a non-GAAP loss from operations of $2.1 million during the second quarter of 2012.
Net Loss: Net loss attributable to common stockholders was $3.5 million, or $0.12 per basic and diluted share, for the second quarter of 2013. This compares to a net loss attributable to common stockholders of $4.3 million, or $0.16 per basic and diluted share, for the second quarter of 2012.
Non-GAAP net loss attributable to common stockholders, which excludes stock-based compensation expense, the amortization of acquired intangible assets, merger-related expenses, and the accretion of dividends on redeemable convertible preferred stock, was $1.1 million for the second quarter of 2013, or $0.04 per basic and diluted share, compared to a non-GAAP net loss attributable to common stockholders of $2.6 million for the second quarter of 2012, or $0.10 per basic and diluted share.
Balance Sheet and Cash Flow: As of June 30, 2013, Brightcove had $30.5 million of cash, cash equivalents and investments, compared to $28.6 million at March 31, 2013. Brightcove generated $2.8 million in cash from operations and invested $802,000 in capital expenditures, leading to free cash flow of $2.0 million for the second quarter of 2013. Free cash flow was ($2.1) million for the second quarter of 2012.
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
Yahoo!7, a leading online destination for Australian consumers and advertisers, chose Brightcove to support their current and future online video initiatives, including their catch-up TV service, Plus7, and their breaking news services. Yahoo!7 is a joint venture between Seven Network Limited and Yahoo! Inc., which combines the online assets, television content and magazine properties of the Seven Network with the strength of Yahoo!'s global Internet platform.
Launched Brightcove Video Cloud Live, an add-on product that provides an easy-to-use dashboard for live video events and delivering multi-bitrate streams to multiple devices.
Asahi Shimbun, one of the top newspapers in Japan, adopted Video Cloud to publish video of the National High School Baseball Championship of Japan, one of that country's most popular sporting events.
Ended the quarter with 6,386 customers, which included a net increase of 16 premium customers during the quarter. New customers added during the quarter included Campbell Soup Company, IBM and All State Insurance.
Business Outlook
Based on information as of today, July 25, 2013, the Company is issuing the following financial guidance:
Third Quarter 2013: The Company expects revenue to be $26.8 million to $27.3 million, and non-GAAP loss from operations to be $900,000 to $1.2 million. Assuming approximately 28.3 million shares outstanding, Brightcove expects its net loss per basic and diluted share attributable to common stockholders to be $0.14 to $0.15, which includes estimates for stock-based compensation expense of $1.6 million, merger-related expenses of $375,000 and amortization of acquired intangible assets of $430,000. Brightcove expects its non-GAAP net loss per basic and diluted share attributable to common stockholders to be $0.05 to $0.06, which excludes the estimated expenses referenced in the previous sentence.
Full Year 2013:
The Company is raising its 2013 financial guidance for revenue and non-GAAP loss from operations. Revenue is expected to be $106.3 million to $107.5 million, and non-GAAP loss from operations is exp
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
IPC Expands Brazilian Presence with New Channel Partner CCATech
Industry veterans Carlos Abrah o and Bruno Lopes strengthen local support and expand IPCs prese...
20/08/2026
Zixi Enters Mauritius Market Through Strategic Deployment with MTC Jockey Club
Worlds Oldest Horse Racing Club in the Southern Hemisphere Selects Zixis Softwar...
20/08/2026
LA JOLLA, CA-Scripps Research assistant professor Tiantian Liu has received a five-year NIAID DP2 award from the National Institute of Allergy and Infectious Di...
20/08/2026
Audiences reveal appetite for multicultural Australia on-screen 20 August 2026
Dr Georgie McClean, Dr Rebecca Huntley (L-R)
By Dr Georgie McClean and Dr Rebec...
20/08/2026
How Mavis Studio Is Expanding Live Production Teaching at Sussex
Brie Clayton August 19, 2026
0 Comments
Hero image displays a student about to mix be...
20/08/2026
Vertical Unscripted Series Legal Queens Captured with Blackmagic Design
Brie Clayton August 19, 2026
0 Comments
Reality TV veteran Eric Gardner create...
19/08/2026
As the cost of IP nears price parity with traditional SDI, Reynolds argues that ...
19/08/2026
A private 5G bubble was chosen instead of traditional broadcast RF for the race ...
19/08/2026
(L-R) Rafael Manuel and Isabel Sicat attend the Filipi ana premiere during the 2026 Sundance Film Festival at The Ray Theatre on January 23, 2026, in Park Cit...
19/08/2026
Studio owners invited to have their say on rates cuts
The Music Producers Guild (MPG) are inviting UK-based studios to take part in an in-depth survey that ...
19/08/2026
Vintage-inspired desktop interface revealed
Harrison's latest hardware offering sees them head into the world of audio interfaces, delivering a 10-in/12...
19/08/2026
Granular effect remains locked to scale and tempo
Described as your dream granular effect , Minimal Audio's latest creation is capable of turning any s...
19/08/2026
First polyphonic SWAM instrument incoming
Audio Modeling's latest physical-modelling orchestral instrument is just around the corner, and is now availab...
19/08/2026
World Cup Games Generate 84 Billion Minutes Across FOX, Fox Sports 1 and NBCU...
19/08/2026
July brought typical peak-holiday drops in viewership, driven primarily by viewers stepping away from screens and a visible decline in reach across both traditi...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Henry joins BCE as the company accelerates its commercial strategy and expands its international presence across the media, broadcast and technology markets. He...
19/08/2026
iWedia, a leading provider of software solutions for connected TV devices, today announced a major milestone in Android platform optimization with the successfu...
19/08/2026
NTP Technology announces that ST 2110-30 audio-over-IP connectivity with AES67 and RAVENNA capabilities is now available for the brand's world-class audio i...
19/08/2026
Net Insight has been selected to provide its Nimbra platform by the service provider Big Blue Marble, formerly ORS Group, as the core media transport solution f...
19/08/2026
LiveU has supported Coventry City FC and several other top-flight UK football clubs through one of their most demanding live production challenges of the year, ...
19/08/2026
Nature Seekers Documentary Shot with Blackmagic URSA Cine 12K LF
Brie Clayton August 18, 2026
0 Comments
Filming endangered turtles required camera...
19/08/2026
Neyrinck Brings D-Control Consoles Back to Life on Apple Silicon with D-Control ...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Riedel Communications today announced that Edith Cowan University (ECU) in Perth, Australia, implemented a comprehensive communications infrastructure that brin...
19/08/2026
QuickLink, a leading provider of award-winning video production and remote guest contribution solutions, will spotlight a major leap forward in remote guest con...
19/08/2026
Integrated platform melds media asset management, playout automation and newsroom workflows
EMAM, PlayBox Neo and SNEWS have officially launched Nuvex, a conne...
19/08/2026
Screen Australia releases the Private Investment Toolkit to strengthen screen in...
19/08/2026
Do Aussies truly value local content? Unpacking Screen Currency 2026 with Deirdr...
19/08/2026
There's an early Christmas gift for Bookish fans, as UKTV confirms the re-commission of the hit U&alibi drama, created by and starring Mark Gatiss. Viewers ...
19/08/2026
Wednesday 19 August 2026
Sky gives sports fans the chance to watch multiple liv...
19/08/2026
On Saturday September 5 Katie Taylor will step into the ring for the fight of her life against Flora Pili in front of 80,000 fans in Croke Park. A legendary fig...
18/08/2026
SportStream 2026, a free three-day virtual event, will take place September 15-17. One registration provides access to all three days of live programming and on...
18/08/2026
BeckTV will introduce BeckFlow to the European market at IBC2026, demonstrated on the Providius stand (10.F53).
BeckFlow is a web-based schematic documentation...
18/08/2026
Boland Communications will introduce a SMPTE ST 2110 input option for its 4K monitors at IBC2026, along with a new 55-inch super-narrow bezel display for video ...
18/08/2026
Dolby Laboratories and the Seattle Seahawks have announced a partnership integrating Dolby OptiView into the Seahawks' live streaming coverage, making the S...
18/08/2026
For BMG Executive Producer of Sports Production, Graham Taylor, producing live s...
18/08/2026
TMRW Sports has appointed Rufus Hack as President of Golf, a newly created role in which he will lead the company's golf businesses including TGL presented ...
Brightcove Announces Financial Results for Second Quarter 2013 July 25, 2013 / Brightcove Press Release 
