Brightcove Announces Organizational Changes
Jul 13 15
Brightcove Inc. announced several organizational changes. Andrew Feinberg has been named President of International Operations with responsibility for all international sales and operating activities for Brightcove. Andrew launched and has overseen Japan and Asia Pacific operations for many years, in addition to serving in his role as EVP and Chief Legal Officer, and previously as VP of Corporate Development. In his new role he will add Europe, the Middle East, and Latin America to his responsibilities. David Plotkin has been named as Brightcove's new General Counsel, succeeding Andrew. Formerly Deputy General Counsel and an 8-year veteran of Brightcove, David will report to EVP & Chief Financial Officer, Kevin Rhodes in his new role. As part of overall organizational changes, Paul Goetz, SVP of Worldwide Operations, will be leaving the
Company at the end of the month to pursue other interests.
Brightcove Inc. Announces Updates to Core Products at PLAY 2015
May 4 15
Brightcove Inc. announced a new wave of feature enhancements to its core products as well as market-specific solutions tailored for Media and Digital Marketing customers. These new products and market-specific solutions allow organizations to publish video faster, deliver a more engaging video experience, and drive business results. Whether companies need to launch a video marketing campaign in minutes or build advanced workflows for new video distribution models, Brightcove offers a complete video technology platform to reach audiences anytime and anywhere. Brightcove’s Video Cloud Studio delivers a robust solution to ingest video, manage and publish content, and analyze usage. New features include: A new responsive HTML5 interface that works across desktop, tablet and mobile devices; New upload module built on top of Brightcove’s Dynamic Ingest platform; Enhancements to content organization and management, including custom folders; Streamlined publishing workflows for videos, players, and playlists; Ability to easily create contributor-only or analytics-only role-based permissions as use of video scales from individual project teams to broad use across the organization; A powerful new Custom Report Builder that enables customers to deliver key video performance insights across one or multiple Video Cloud accounts on an ad hoc or recurring basis; The new Video Cloud Studio is currently available in open beta to all Video Cloud Pro and Enterprise customers. General availability is expected in summer 2015. Brightcove cloud solutions for Media enable media owners and publishers to deliver and monetize video across online, mobile, and over-the-top (OTT) services. New ad insertion developments include: Once VOD 2.0 is the cloud-based, ad and stream stitching solution. Once VOD 2.0 enables media companies to deliver a seamless and consistent ad-supported video experience across devices to maximize audience reach, ad inventory, and revenue opportunity. Brightcove Once VOD 2.0 integrates with the Brightcove Player, and iOS and Android video SDKs, to deliver an interactive user experience through actionable overlays and synchronized companion ads, and offers content providers a highly-configurable in-player ad solution. The latest version also supports FairPlay Streaming, Apple’s digital rights management (DRM) technology, which allows advertisers to deliver content to Apple TV and realize new ad opportunities. Once Live 2.0 delivers next-generation ad insertion for live streaming content. Once Live 2.0 dynamically stitches mid-roll ads into live content, allowing media owners to monetize content while maintaining a high-quality user experience. The latest features, which include ad insertion, ad replacement, and content replacement for both live events and 24/7 live broadcasting, are currently in open beta for all Brightcove customers, and are expected to be generally available in summer 2015. Brightcove’s Video Marketing Suite (VMS) offers the complete solution to incorporate video into brand awareness, lead-generation, and lead nurturing campaigns. It can also be deployed beyond the marketing function for broad corporate communications, HR, and training activities and with security features, for internal communications as well. Gallery, a powerful solution to simply and rapidly publish responsive video portals that are optimized for SEO and social sharing, now offers a new template for live video experiences that includes a pre-event, during event and post event state allowing brands to extend their reach in minutes. Additional Gallery enhancements include integrated calls-to-action for marketing programs and support for multi-language sites. A new Audience Module in the Video Marketing Suite allows marketers to feed video viewing and lead collection data directly into marketing automation systems such as Oracle Eloqua and Marketo, enabling better targeted communications, enhanced lead scoring, and enhanced lead capture. Both the new Gallery and the Audience Module are expected to be generally available in summer 2015.
Brightcove, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015
Apr 30 15
Brightcove Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. The company reported total revenue of $32,885,000, loss from operations of $2,541,000, loss before income taxes of $2,765,000, net loss of $2,831,000 or $0.09 per basic and diluted share compared to total revenue of $31,105,000, loss from operations of $4,658,000, loss before income taxes of $4,770,000, net loss of $4,837,000 or $0.16 per basic and diluted share a year ago. Net cash provided by operating activities was $46,000 against net cash used in operating activities of $4,934,000 a year ago. Purchases of property and equipment were $581,000 compared to $206,000 a year ago. Non-GAAP loss from operations was $284,000 compared to $322,000 a year ago. Non-GAAP net loss was $574,000 or $0.02 per diluted share compared to $501,000 or $0.02 per diluted share a year ago. Adjusted EBITDA was $1,355,000 compared to $785,000 a year ago. The company outperformance was primarily driven by customers expanding their relationships during the first quarter as well as securing larger-than-normal overages due to higher stream volumes. The earnings outperformance in the quarter was largely a result of better-than-expected overages revenue combined with strong expense management. The company invested $738,000 in capital expenditures and capitalized internal-use software during the quarter. Negative free cash flow was $692,000 compared to $5.7 million a year ago.
For the second quarter of 2015, the company's revenue is expected to be in the range of $33.0 million to $33.5 million. Non-GAAP loss from operations is expected to be in the range of $600,000 to $1.1 million, which excludes stock-based compensation, the amortization of acquired intangible assets and merger-related expenses totaling approximately $2.1 million Adjusted EBITDA in the second quarter is expected to be in the range of $500,000 to $1.0 million, which excludes stock-based compensation, the amortization of acquired intangible assets, merger-related expenses, depreciation, other income/expense and taxes totaling approximately $4.0 million. Non-GAAP net loss per diluted share is expected to be $0.03 to $0.05, assuming approximately 32.6 million shares outstanding.
For the full year 2015, the company's revenue is expected to be in the range of $132.5 million to $134.5 million. Non-GAAP loss from operations is expected to be in the range of $500,000 to $2.5 million, which excludes stock-based compensation, the amortization of acquired intangible assets and merger-related expenses totaling approximately $9.2 million to $9.6 million. Adjusted EBITDA for the full year is expected to be in the range of $4.0 to $6.0 million, which excludes stock-based compensation, the amortization of acquired intangible assets, merger-related expenses, depreciation, other income/expense and taxes totaling approximately $16.2 million to $16.6 million. Non-GAAP net loss per diluted share is expected to be $0.05 to $0.12, assuming approximately 32.6 million shares outstanding. Excluding Rovio, revenue growth is expected to be in the 8% to 10% range. The company is targeting free cash flow of 0 to $2 million for the full year, which is consistent with prior guidance.