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Brightcove (Nasdaq: BCOV) has been named a 'Leader' in 'The Aragon Research Globe for Enterprise Video, 2024' report for the third consecutive year. This recognition is attributed to Brightcove’s advanced video streaming offerings and its open-architecture platform, which supports multiple marketing integrations. The company powers video content for major global brands and is committed to innovation, helping enterprises enhance sales, brand awareness, customer engagement, and employee experience through video. The report evaluated 14 providers, with Brightcove standing out for its comprehensive strategy and market alignment.
Brightcove Inc. will be presenting at the Needham Technology, Media & Consumer Conference with its CEO and CFO. The presentation will take place on May 16, 2024, at 8:45 a.m. ET. A live webcast of the event will be accessible on Brightcove's investor relations website, with a replay available for a time.
Brightcove Inc. (Nasdaq: BCOV) reported strong first quarter financial results with revenue of $50.5 million, up 3% year-over-year, and gross profit of $30.9 million, a 61% margin. The company improved stability with longer-term deals, record backlog, and increased cash balance. Net income was $1.6 million, or $0.04 per diluted share. Adjusted EBITDA was $5.0 million, a 10% margin. Business highlights include hiring a new CFO, monetizing patents for $6 million, and strategic partnerships. Brightcove ended with $22.9 million in cash and provided Q2 revenue guidance of $47.5-$48.5 million and full-year revenue guidance of $195-$198 million.
Brightcove, a leading video technology provider, has integrated Amazon Q, a generative AI solution, to enhance customer service. The company has launched the 'Brightcove Expert Bot,' an AI-powered chatbot, to streamline customer support processes. By leveraging AWS, Brightcove aims to increase efficiency and innovation through artificial intelligence.
