Brightcove Announces Financial Results for Second Quarter 2015 July 30, 2015 / Brightcove Press Release
Company reports adjusted EBITDA of $620,000
BOSTON, MA (July 30, 2015) Brightcove Inc. (Nasdaq: BCOV), a leading global provider of cloud services for video, today announced financial results for the quarter ended June 30, 2015.
Brightcove reported second quarter results that were in-line with our profitability expectations, while revenue was slightly below expectations due to the timing of certain customer renewals, said David Mendels, Chief Executive Officer of Brightcove. We are delivering positive performance in many areas of the company, especially in North America and Japan, though we have seen some softness in our European business. We have taken steps to improve our execution in Europe and believe they will improve results going forward.
Mendels continued, From a demand perspective, our digital marketing business is gaining traction, reflecting the significant opportunity for video as part of the cloud marketing automation stack. We are also seeing early interest from Media companies in our ad yield optimization solution that combines Brightcove Perform and Brightcove Once to significantly improve content monetization. We remain confident our strategy can deliver consistent double-digit growth in the future, while also generating strong shareholder value.
Second Quarter 2015 Financial Highlights:
Revenue for the second quarter of 2015 was $32.8 million, an increase of 6% compared to $31.0 million for the second quarter of 2014. Subscription and support revenue was $31.9 million, an increase of 7% compared with $29.9 million for the second quarter of 2014.
Gross profit for the second quarter of 2015 was $21.3 million, compared to $20.6 million for the second quarter of 2014, representing a gross margin of 65% for the second quarter of 2015. Non-GAAP gross profit for the second quarter of 2015 was $21.9 million, representing a year-over-year increase of 3% 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 was $3.2 million for the second quarter of 2015, compared to a loss from operations of $4.0 million for the second quarter of 2014. Non-GAAP loss from operations, which excludes stock-based compensation expense, the amortization of acquired intangible assets and merger-related expenses, was $964,000 for the second quarter of 2015, an improvement compared to a non-GAAP loss from operations of $1.1 million during the second quarter of 2014.
Net loss was $3.6 million, or $0.11 per diluted share, for the second quarter of 2015. This compares to a net loss of $4.3 million, or $0.13 per diluted share, for the second quarter of 2014. Non-GAAP net loss, which excludes stock-based compensation expense, the amortization of acquired intangible assets and merger-related expenses, was $1.5 million for the second quarter of 2015, or $0.04 per diluted share, compared to a non-GAAP net loss of $1.4 million for the second quarter of 2014, or $0.04 per diluted share.
Adjusted EBITDA was $620,000 for the second quarter of 2015, compared to $173,000 for the second quarter of 2014. Adjusted EBITDA excludes stock-based compensation expense, the amortization of acquired intangible assets, merger-related expenses, depreciation expense, other income/expense and the provision for income taxes.
Cash flow from operations was $385,000, compared to $724,000 for the second quarter of 2014.
Free cash flow was negative $1.6 million after the company invested $2.0 million in capital expenditures and capitalization of internal-use software during the second quarter of 2015. Free cash flow was negative $861,000 for the second quarter of 2014.
Cash and cash equivalents were $21.2 million as of June 30, 2015 compared to $21.9 million at March 31, 2015.
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:
Ended the quarter with 5,404 customers, of which 1,847 were premium.
New media customers and media customers who expanded their relationship during the quarter included: Barstool Sports, Canadian Football League, Forecast Communication Inc., Manchester City Football Club, News Corp Australia, Quebecor Media Inc., Rogers Media Inc., The Food Channel, Time, Inc., Vox Media and Yelp, among others.
New digital marketing customers and digital marketing customers who expanded their relationship during the quarter included: Aon, BassMasters, Blue Jeans Network, Bryant University, GoNoodle, Ingram Micro, Janssen Pharmaceuticals, Morningstar, Skillshare, Sotheby's and Udemy, among others.
Introduced a Brightcove-specific Amazon Fire TV web app kit that helps content owners optimize the delivery of their content from Brightcove Video Cloud directly to Amazon Fire TV. This latest integration leverages the Brightcove Player so that publishers can run ads against their content on Amazon Fire TV using the Google IMA3 advertising plugin and view analytics related to video consumption on Amazon Fire TV in Brightcove Video Cloud.
Announced the general availability of the new Brightcove Video Cloud, which includes updates such as a new HTML5 user interface and faster upload and playback time. The latest release also includes a set of new features including mobile and social publishing, a custom report builder that enables advanced video analytics, and integrations with leading content management systems such as Drupal, Adobe Experience Manager, WordPress, and SharePoint.
Announced general availability of Brightcove Audience.
Most recent headlines
09/11/2025
Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...
16/10/2025
Parks Associates has released new data showing that nearly half (45%) of U.S. internet homes watch free ad-supported streaming TV (FAST) services and 89% of U.S...
16/10/2025
TROY, Mich. -New data from J.D. Power's 2025 U.S. Residential Internet Service Provider Study shows that residential wireless internet providers are growing...
16/10/2025
This Saturday October 18 Katja Mia will burst onto the radio airwaves for the first time as she joins 2FM. Katja will be standing in for Bl thnaid Treacy on Sat...
16/10/2025
This October, RT is delighted to support Wexford Festival Opera, Babor International Arts Festival for Children, Open House Dublin and 36 other arts and cultu...
16/10/2025
GeForce NOW is more than just a platform to stream fresh games every week - it offers celebrations for the gamers who make it epic, with member rewards to sweet...
15/10/2025
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 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 Sponsors...
15/10/2025
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
Two years ago, Spotify set out to grow the entire publishing industry by making ...
15/10/2025
People turn to DJ for a listening experience that feels personal, dynamic, and j...
15/10/2025
Las personas recurren a DJ para vivir una experiencia de escucha personal, din m...
15/10/2025
Rock legend Bruce Springsteen and luminary actor Jeremy Allen White came togethe...
15/10/2025
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 ...
15/10/2025
SBS celebrates the Festivals of Lights with bold, illuminating stories across th...
15/10/2025
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
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
15/10/2025
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
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
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
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, 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 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 Student artists will perform on multiple riverfront stages during the 60th anniversary of the world's...
15/10/2025
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
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
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
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
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
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
Abu Dhabi, UAE October 15, 2025: Space42 (ADX: SPACE42), the UAE-based AI-powe...
15/10/2025
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
Wednesday 15 October 2025
Nick Cave
JPEG (275 KB)
Explore the creative univer...
15/10/2025
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: Advan...
15/10/2025
Back to All News
Revenge Series The Resurrected' Captivates Audiences Across Asia
Entertainment
15 October 2025
GlobalTaiwan
Link copied to clipboard
...
15/10/2025
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
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
Collaboration extends a trusted relationship as RMC BFM invests in scalable, fut...
15/10/2025
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 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 Revo...
14/10/2025
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 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, ...
14/10/2025
Time and effort: World's largest student-led broadcast prepares to go On Air...
14/10/2025
(L-R) Guest, Kimberly Robinson Jones, Geeta Gandbhir, Pamela Dias, and Takema Ro...
Brightcove Announces Financial Results for Second Quarter 2015 July 30, 2015 / Brightcove Press Release 
