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Brightcove Inc. (NASDAQ: BCOV) is a prominent provider of robust cloud solutions for delivering and monetizing video content across all connected devices. Based in Boston, Massachusetts, Brightcove's cutting-edge technology simplifies the complexities associated with publishing, distributing, measuring, and monetizing multi-screen video.
The company caters to a diverse clientele, including media companies, broadcasters, digital publishers, sports and entertainment firms, fashion and hospitality brands, faith-based institutions, retail and e-commerce businesses, as well as technology organizations, government agencies, educational institutions, and non-profits. Brightcove boasts an impressive roster of over 5,500 customers spanning more than 70 countries.
Brightcove's flagship product, Brightcove Video Cloud, empowers clients to publish and distribute video content to internet-connected devices efficiently. This service operates on a subscription-based software-as-a-service (SaaS) model, contributing significantly to the company's revenue. Another notable product is Zencoder, a cloud-based video encoding service that further enhances Brightcove's offerings.
In addition to its core products, Brightcove continually explores new projects and partnerships to maintain its market position and ensure the profitability and success of its clients. The company's recent achievements and ongoing initiatives reflect its commitment to innovation and customer satisfaction.
Brightcove's financial health demonstrates a stable and growing enterprise with a substantial portion of its revenue generated in North America and Asia. The company remains dedicated to expanding its global footprint and enhancing its suite of video solutions.
For those interested in career opportunities with Brightcove, more information can be found on their careers page. To stay updated with the latest news and developments, visit their official website.
Brightcove (Nasdaq: BCOV) announced its financial results for Q2 2024, ending June 30. Revenue was $49.2 million, a 3% drop from $51 million in Q2 2023. Subscription and support revenue also fell by 3% to $47.4 million. However, Adjusted EBITDA rose to $3.8 million from $3.6 million.
Net income showed a loss of $5.2 million, improving from a $6.2 million loss in Q2 2023. Cash flow from operations was $4 million, down from $10.8 million. Free cash flow decreased to $1.8 million from $7.1 million. Brightcove ended Q2 with $24.2 million in cash.
Recent highlights include agreements with JCOM, FrightPix, and Sunn Stream. Brightcove's backlog totaled $182.2 million, a 3% increase YoY, and the average annual subscription revenue per premium customer reached a record $99,000.
For Q3 2024, revenue is expected between $48-$49 million, and Adjusted EBITDA between $2.5-$3.5 million. Full-year 2024 guidance forecasts revenue of $195.5-$198 million and Adjusted EBITDA of $14.5-$16 million.
Brightcove Inc. (NASDAQ: BCOV), a leading streaming technology company, has announced the date for its second quarter fiscal year 2024 earnings report. The company will release its financial results for the period ended June 30, 2024, after the U.S. financial markets close on August 7, 2024. Following the release, Brightcove will host a live earnings stream at 5:00 p.m. Eastern Time on the same day.
During the earnings stream, CEO Marc DeBevoise and CFO John Wagner will discuss the company's financial performance and provide insights into the current business outlook. Investors and interested parties can access the live stream through the 'Investors' page on Brightcove's website. An on-demand recording of the earnings stream will be made available on the company's investor page after the event concludes.
Brightcove (NASDAQ: BCOV) has announced that Sunn Stream, a streaming service offering family-friendly entertainment and educational content, has chosen its platform to manage, distribute, and monetize its content. Sunn Stream will utilize Brightcove's Emmy-award-winning technology to provide subscribers with a seamless, curated experience across all devices.
The partnership aims to combine Sunn Stream's unique content proposition with Brightcove's high-quality video streaming and personalized user experience. Brightcove CEO Marc DeBevoise highlighted the importance of reliable, customized entertainment options and access to analytics in the competitive streaming industry. Sunn Stream's founder emphasized their focus on creating a family-oriented experience with handpicked recommendations.
Brightcove (NASDAQ: BCOV), a leading streaming technology company, has announced its partnership with FrightPix, a new ad-supported video-on-demand service focused on horror, thriller, and true crime content. Launching on June 15, 2024, FrightPix will use Brightcove's advanced streaming platform to deliver high-quality, curated content to audiences across the U.S. The platform aims to provide a seamless viewing experience across all devices and leverage robust analytics for optimizing content and advertising strategies. This collaboration positions FrightPix to become a premier destination for genre enthusiasts.
Brightcove (NASDAQ: BCOV), a leading streaming technology company, announced a partnership with Japan's largest cable TV company, J:COM. Brightcove's platform will power J:COM's new streaming service, Ikimono Watch, which broadcasts content from Japanese zoos and aquariums. The app integrates with J:COM set-top boxes and utilizes Brightcove's Android SDK and Video Cloud API for efficient content management and viewing. J:COM's decision to use Brightcove underscores the platform's reliability and scalability. The successful launch is anticipated to drive future growth for the service.
Brightcove, a leading streaming technology company, announced its participation in the Rosenblatt Technology Summit. CEO Marc DeBevoise and CFO John Wagner will present virtually on June 13, 2024, at 9:00 a.m. ET. This event will be webcast live on the Brightcove investor relations website, with a replay available for a time.
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.
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