$BCOV
Brightcove Inc

2022 Q4 Form 10-Q Financial Statement

#000095017022021264 Filed on November 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $49.24M $53.94M $52.16M
YoY Change -6.46% 3.41% 6.28%
Cost Of Revenue $19.33M $20.06M $18.65M
YoY Change 7.47% 7.56% 3.06%
Gross Profit $29.91M $33.88M $33.51M
YoY Change -13.69% 1.11% 8.13%
Gross Profit Margin 60.75% 62.81% 64.24%
Selling, General & Admin $26.88M $26.77M $25.80M
YoY Change 3.86% 3.78% 19.98%
% of Gross Profit 89.88% 79.01% 76.98%
Research & Development $8.984M $7.931M $7.902M
YoY Change 17.02% 0.37% -3.99%
% of Gross Profit 30.03% 23.41% 23.58%
Depreciation & Amortization $3.555M $2.914M $2.006M
YoY Change 74.44% 45.26% -6.26%
% of Gross Profit 11.88% 8.6% 5.99%
Operating Expenses $35.87M $34.70M $33.70M
YoY Change 6.87% 2.98% 13.42%
Operating Profit -$5.956M -$821.0K -$188.0K
YoY Change -643.93% 336.7% -114.69%
Interest Expense $845.0K -$668.0K -$319.0K
YoY Change -292.92% 109.4% -259.5%
% of Operating Profit
Other Income/Expense, Net -$668.0K -$319.0K
YoY Change 109.4%
Pretax Income -$5.111M -$1.489M -$552.0K
YoY Change -877.93% 169.75% -137.55%
Income Tax $286.0K $191.0K $468.0K
% Of Pretax Income
Net Earnings -$5.397M -$1.680M -$1.020M
YoY Change -1394.24% 64.71% -177.86%
Net Earnings / Revenue -10.96% -3.11% -1.96%
Basic Earnings Per Share -$0.04 -$0.02
Diluted Earnings Per Share -$0.13 -$0.04 -$24.92K
COMMON SHARES
Basic Shares Outstanding 42.07M 41.90M 40.94K
Diluted Shares Outstanding 41.97K 40.94K

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.89M $31.35M $45.29M
YoY Change -30.27% -30.78% 49.46%
Cash & Equivalents $31.89M $31.35M $41.00K
Short-Term Investments
Other Short-Term Assets $10.72M $10.34M $20.38M
YoY Change -1.02% -49.26% 14.47%
Inventory
Prepaid Expenses $8.700M $8.976M
Receivables $26.00M $31.89M $28.14M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $77.32M $82.55M $93.80M
YoY Change -17.95% -11.99% 16.81%
LONG-TERM ASSETS
Property, Plant & Equipment $39.68M $36.58M $24.45M
YoY Change 93.41% 49.64% -11.11%
Goodwill $74.86M $74.86M
YoY Change 22.92%
Intangibles $10.28M $11.30M
YoY Change 10.81%
Long-Term Investments
YoY Change
Other Assets $7.007M $6.564M $6.491M
YoY Change 5.29% 1.12% 44.24%
Total Long-Term Assets $150.5M $148.7M $100.1M
YoY Change 23.11% 48.61% -4.07%
TOTAL ASSETS
Total Short-Term Assets $77.32M $82.55M $93.80M
Total Long-Term Assets $150.5M $148.7M $100.1M
Total Assets $227.8M $231.2M $193.9M
YoY Change 5.24% 19.29% 5.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.33M $13.06M $11.01M
YoY Change 2.6% 18.65% 17.1%
Accrued Expenses $26.88M $23.73M $23.26M
YoY Change 28.44% 2.03% -19.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $104.0M $105.9M $96.00M
YoY Change 7.59% 10.29% 0.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $981.0K $963.0K $5.270M
YoY Change 24.81% -81.73% -46.22%
Total Long-Term Liabilities $981.0K $963.0K $5.270M
YoY Change 24.81% -81.73% -64.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $104.0M $105.9M $96.00M
Total Long-Term Liabilities $981.0K $963.0K $5.270M
Total Liabilities $125.5M $127.9M $101.3M
YoY Change 4.37% 26.31% -8.35%
SHAREHOLDERS EQUITY
Retained Earnings -$210.1M -$204.7M
YoY Change 4.48%
Common Stock $42.00K $42.00K
YoY Change 2.44%
Preferred Stock
YoY Change
Treasury Stock (at cost) $871.0K $871.0K
YoY Change 0.0%
Treasury Stock Shares $135.0K $135.0K $135.0K
Shareholders Equity $102.3M $103.3M $92.58M
YoY Change
Total Liabilities & Shareholders Equity $227.8M $231.2M $193.9M
YoY Change 5.24% 19.29% 5.01%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$5.397M -$1.680M -$1.020M
YoY Change -1394.24% 64.71% -177.86%
Depreciation, Depletion And Amortization $3.555M $2.914M $2.006M
YoY Change 74.44% 45.26% -6.26%
Cash From Operating Activities $5.672M $10.49M $7.371M
YoY Change 17.8% 42.34% 103.62%
INVESTING ACTIVITIES
Capital Expenditures $6.257M -$6.025M -$2.497M
YoY Change -344.41% 141.29% 11.97%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$6.257M -$6.025M -$2.497M
YoY Change 37.21% 141.29% 11.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $220.0K
YoY Change -73.17%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -175.0K -1.000K 193.0K
YoY Change -149.72% -100.52% -75.57%
NET CHANGE
Cash From Operating Activities 5.672M 10.49M 7.371M
Cash From Investing Activities -6.257M -6.025M -2.497M
Cash From Financing Activities -175.0K -1.000K 193.0K
Net Change In Cash -760.0K 4.466M 5.067M
YoY Change -225.21% -11.86% 132.43%
FREE CASH FLOW
Cash From Operating Activities $5.672M $10.49M $7.371M
Capital Expenditures $6.257M -$6.025M -$2.497M
Free Cash Flow -$585.0K $16.52M $9.868M
YoY Change -107.93% 67.38% 68.68%

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CY2021Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1816000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-412000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021Q3 us-gaap Treasury Stock Shares
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CY2022Q3 us-gaap Stockholders Equity
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CY2021Q3 us-gaap Stockholders Equity
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CY2022Q3 us-gaap Stockholders Equity
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103317000
CY2021Q3 us-gaap Stockholders Equity
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92576000
us-gaap Net Income Loss
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-3618000
us-gaap Net Income Loss
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4980000
us-gaap Depreciation Depletion And Amortization
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7141000
us-gaap Depreciation Depletion And Amortization
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us-gaap Share Based Compensation
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bcov Increase Decrease In Operating Leases
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bcov Increase Decrease In Operating Leases
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Deferred Revenue
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2707000
us-gaap Net Cash Provided By Used In Operating Activities
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19749000
us-gaap Net Cash Provided By Used In Operating Activities
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14748000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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13215000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
us-gaap Payments To Acquire Property Plant And Equipment
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8617000
us-gaap Payments To Acquire Property Plant And Equipment
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1625000
us-gaap Payments To Develop Software
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us-gaap Payments To Develop Software
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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142000
us-gaap Proceeds From Stock Options Exercised
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bcov Payments For Deferred Acquisition Payments
PaymentsForDeferredAcquisitionPayments
0
bcov Payments For Deferred Acquisition Payments
PaymentsForDeferredAcquisitionPayments
475000
us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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92000
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31348000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45285000
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-1020000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
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us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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166000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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164000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
355000
us-gaap Net Income Loss
NetIncomeLoss
-3618000
us-gaap Net Income Loss
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4980000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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41972
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40935
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41712
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40571
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0
CY2021Q1 us-gaap Other Operating Income Expense Net
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CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
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9100000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
57200000
CY2022Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
11400000
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
12200000
CY2022Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2700000
us-gaap Capitalized Contract Cost Amortization
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7700000
CY2021Q3 us-gaap Capitalized Contract Cost Amortization
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3300000
CY2022Q3 us-gaap Investment Owned At Cost
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31348000
CY2022Q3 us-gaap Investment Owned At Fair Value
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31348000
CY2021Q4 us-gaap Investment Owned At Cost
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45739000
CY2021Q4 us-gaap Investment Owned At Fair Value
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45739000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-1680000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1667
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41972
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40935
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41712
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42237
CY2022Q3 us-gaap Earnings Per Share Basic
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-0.04
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.51
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
34500000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M25D
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2846000
CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2333000
us-gaap Share Based Compensation
ShareBasedCompensation
9969000
us-gaap Share Based Compensation
ShareBasedCompensation
7234000
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1000000.0
us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
If the outstanding principal during any month is at least $15.0 million, the Company must also maintain a minimum net income threshold based on non-GAAP operating measures.
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2023-12-28
CY2022Q3 us-gaap Revenues
Revenues
53944000
CY2021Q3 us-gaap Revenues
Revenues
52163000
us-gaap Revenues
Revenues
161770000
us-gaap Revenues
Revenues
158452000
CY2022Q3 bcov Percentage Of Revenue
PercentageOfRevenue
0.10
CY2021Q3 bcov Percentage Of Revenue
PercentageOfRevenue
0.10
bcov Percentage Of Revenue
PercentageOfRevenue
0.10
us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
4382000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
614000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
736000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
736000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
736000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
736000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
824000
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4382000
CY2021Q4 us-gaap Goodwill
Goodwill
60902000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
13957000
CY2022Q3 us-gaap Goodwill
Goodwill
74859000

Files In Submission

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bcov-20220930_def.xml Edgar Link unprocessable
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0000950170-22-021264-index.html Edgar Link pending
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bcov-20220930.htm Edgar Link pending
bcov-20220930.xsd Edgar Link pending
bcov-ex31_1.htm Edgar Link pending
bcov-ex31_2.htm Edgar Link pending
bcov-ex32_1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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bcov-20220930_lab.xml Edgar Link unprocessable
bcov-20220930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
bcov-20220930_htm.xml Edgar Link completed
bcov-20220930_cal.xml Edgar Link unprocessable
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