$BCOV
Brightcove Inc

2016 Q3 Form 10-Q Financial Statement

#000119312516662201 Filed on July 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q2
Revenue $38.39M $36.96M $32.85M
YoY Change 13.45% 12.52% 5.95%
Cost Of Revenue $13.78M $13.45M $11.56M
YoY Change 19.68% 16.4% 10.88%
Gross Profit $24.61M $23.51M $21.29M
YoY Change 10.24% 10.41% 3.45%
Gross Profit Margin 64.11% 63.6% 64.81%
Selling, General & Admin $18.46M $18.46M $17.11M
YoY Change 14.98% 7.9% -0.76%
% of Gross Profit 75.0% 78.54% 80.38%
Research & Development $7.704M $7.255M $7.267M
YoY Change 6.51% -0.17% 6.99%
% of Gross Profit 31.3% 30.86% 34.13%
Depreciation & Amortization $1.910M $1.980M $2.370M
YoY Change -9.05% -16.46% 11.27%
% of Gross Profit 7.76% 8.42% 11.13%
Operating Expenses $26.16M $25.72M $24.44M
YoY Change 12.05% 5.22% -0.47%
Operating Profit -$1.552M -$2.211M -$3.151M
YoY Change 51.41% -29.83% -20.77%
Interest Expense $10.00K $10.00K -$20.00K
YoY Change -133.33% -150.0% 0.0%
% of Operating Profit
Other Income/Expense, Net -$5.000K -$91.00K -$429.0K
YoY Change -96.06% -78.79% 45.92%
Pretax Income -$1.557M -$2.302M -$3.580M
YoY Change 35.16% -35.7% -16.18%
Income Tax $61.00K $96.00K $66.00K
% Of Pretax Income
Net Earnings -$1.618M -$2.398M -$3.646M
YoY Change 26.9% -34.23% -15.74%
Net Earnings / Revenue -4.21% -6.49% -11.1%
Basic Earnings Per Share -$0.05 -$0.07 -$0.11
Diluted Earnings Per Share -$0.05 -$0.07 -$0.11
COMMON SHARES
Basic Shares Outstanding 33.07M shares 32.77M shares 32.53M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.20M $30.20M $21.20M
YoY Change 47.9% 42.45% 1.92%
Cash & Equivalents $35.19M $30.19M $21.24M
Short-Term Investments
Other Short-Term Assets $1.634M $1.550M $5.300M
YoY Change -65.23% -70.75% -10.17%
Inventory
Prepaid Expenses $4.168M $4.292M
Receivables $22.71M $18.87M $19.24M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $63.70M $54.91M $45.70M
YoY Change 30.9% 20.14% -1.89%
LONG-TERM ASSETS
Property, Plant & Equipment $9.501M $9.362M $10.60M
YoY Change -9.68% -11.68% -4.66%
Goodwill $50.78M $50.78M
YoY Change 0.0%
Intangibles $11.75M $12.54M
YoY Change -19.2%
Long-Term Investments
YoY Change
Other Assets $956.0K $980.0K $1.200M
YoY Change -2.85% -18.33% 148.96%
Total Long-Term Assets $73.27M $73.94M $78.00M
YoY Change -4.88% -5.21% -4.19%
TOTAL ASSETS
Total Short-Term Assets $63.70M $54.91M $45.70M
Total Long-Term Assets $73.27M $73.94M $78.00M
Total Assets $137.0M $128.8M $123.7M
YoY Change 8.98% 4.16% -3.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.659M $4.883M $2.900M
YoY Change 42.21% 68.38% 222.58%
Accrued Expenses $14.43M $11.30M $9.800M
YoY Change 36.69% 15.32% 0.67%
Deferred Revenue
YoY Change
Short-Term Debt $300.0K $300.0K $700.0K
YoY Change -57.14% -57.14%
Long-Term Debt Due $600.0K $600.0K $1.100M
YoY Change -33.33% -45.45% -21.43%
Total Short-Term Liabilities $53.63M $49.37M $43.30M
YoY Change 18.73% 14.02% 10.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.033M $2.299M $3.300M
YoY Change -31.48% -30.33% 17.4%
Total Long-Term Liabilities $2.033M $2.299M $3.300M
YoY Change -31.48% -30.33% 17.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.63M $49.37M $43.30M
Total Long-Term Liabilities $2.033M $2.299M $3.300M
Total Liabilities $55.67M $51.76M $46.60M
YoY Change 15.01% 11.07% 10.53%
SHAREHOLDERS EQUITY
Retained Earnings -$146.2M -$144.6M
YoY Change 3.87%
Common Stock $34.00K $33.00K
YoY Change 3.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $871.0K $871.0K
YoY Change
Treasury Stock Shares 135.0K shares 135.0K shares
Shareholders Equity $81.30M $77.08M $77.10M
YoY Change
Total Liabilities & Shareholders Equity $137.0M $128.8M $123.7M
YoY Change 8.97% 4.18% -3.38%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$1.618M -$2.398M -$3.646M
YoY Change 26.9% -34.23% -15.74%
Depreciation, Depletion And Amortization $1.910M $1.980M $2.370M
YoY Change -9.05% -16.46% 11.27%
Cash From Operating Activities $2.620M $2.010M $380.0K
YoY Change -31.41% 428.95% -47.22%
INVESTING ACTIVITIES
Capital Expenditures -$1.430M -$1.220M -$2.040M
YoY Change 98.61% -40.2% 29.11%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.430M -$1.220M -$2.040M
YoY Change 98.61% -40.2% -3014.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.800M -140.0K 1.000M
YoY Change -766.67% -114.0% 614.29%
NET CHANGE
Cash From Operating Activities 2.620M 2.010M 380.0K
Cash From Investing Activities -1.430M -1.220M -2.040M
Cash From Financing Activities 3.800M -140.0K 1.000M
Net Change In Cash 4.990M 650.0K -660.0K
YoY Change 97.23% -198.48% -170.97%
FREE CASH FLOW
Cash From Operating Activities $2.620M $2.010M $380.0K
Capital Expenditures -$1.430M -$1.220M -$2.040M
Free Cash Flow $4.050M $3.230M $2.420M
YoY Change -10.79% 33.47% 5.22%

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OtherCostOfOperatingRevenue
3367000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
300000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
101000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1980000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
108000
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
3519000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1677000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
141000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
5009000
us-gaap Subscription Revenue
SubscriptionRevenue
69733000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1026000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
461000
dei Trading Symbol
TradingSymbol
BCOV
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14681000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
188000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.45 pure
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
604000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.66
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
26511000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0153 pure
us-gaap Share Based Compensation
ShareBasedCompensation
2584000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
122000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32759561 shares
bcov Number Of Wholly Owned Subsidiaries
NumberOfWhollyOwnedSubsidiaries
9 Subsidiaries
bcov Percentage Of Revenue
PercentageOfRevenue
0.10 pure
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5209000
CY2015Q2 us-gaap Cost Of Goods Sold Subscription
CostOfGoodsSoldSubscription
10357000
CY2015Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
62000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3654000
CY2015Q2 us-gaap Cost Of Revenue
CostOfRevenue
11558000
CY2015Q2 us-gaap Revenues
Revenues
32848000
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-429000
CY2015Q2 us-gaap Gross Profit
GrossProfit
21290000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
24441000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-3646000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3580000
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-8000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-3151000
CY2015Q2 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
1201000
CY2015Q2 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
931000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
66000
CY2015Q2 us-gaap Subscription Revenue
SubscriptionRevenue
31917000
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7267000
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.46 pure
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.28
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
11903000
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0181 pure
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1336000
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32548123 shares
CY2015Q2 bcov Percentage Of Revenue
PercentageOfRevenue
0.10 pure
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4487000
CY2016Q2 us-gaap Cost Of Goods Sold Subscription
CostOfGoodsSoldSubscription
11675000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2488000
CY2016Q2 us-gaap Cost Of Revenue
CostOfRevenue
13453000
CY2016Q2 us-gaap Revenues
Revenues
36960000
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-91000
CY2016Q2 us-gaap Gross Profit
GrossProfit
23507000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
25718000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-2398000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2302000
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-90000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-2211000
CY2016Q2 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
1778000
CY2016Q2 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
1880000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
96000
CY2016Q2 us-gaap Subscription Revenue
SubscriptionRevenue
35080000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7255000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.45 pure
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.64
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
13976000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0144 pure
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1125000
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y8M12D
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32794274 shares
CY2016Q2 bcov Percentage Of Revenue
PercentageOfRevenue
0.10 pure

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0001193125-16-662201.txt Edgar Link pending
0001193125-16-662201-xbrl.zip Edgar Link pending
bcov-20160630.xml Edgar Link completed
bcov-20160630.xsd Edgar Link pending
bcov-20160630_cal.xml Edgar Link unprocessable
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