$BCOV
Brightcove Inc

2018 Q3 Form 10-Q Financial Statement

#000119312518227776 Filed on July 26, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $41.12M $41.65M $38.75M
YoY Change 4.14% 7.49% 4.85%
Cost Of Revenue $16.32M $16.62M $16.58M
YoY Change -1.13% 0.24% 23.23%
Gross Profit $24.80M $25.04M $22.18M
YoY Change 7.92% 12.9% -5.67%
Gross Profit Margin 60.32% 60.1% 57.22%
Selling, General & Admin $19.63M $22.31M $21.78M
YoY Change -4.3% 2.43% 17.97%
% of Gross Profit 79.14% 89.11% 98.22%
Research & Development $8.314M $7.743M $8.279M
YoY Change 6.32% -6.47% 14.11%
% of Gross Profit 33.52% 30.93% 37.33%
Depreciation & Amortization $1.730M $1.790M $1.940M
YoY Change -10.82% -7.73% -2.02%
% of Gross Profit 6.97% 7.15% 8.75%
Operating Expenses $27.94M $30.05M $30.06M
YoY Change -1.37% -0.02% 16.88%
Operating Profit -$3.141M -$5.017M -$7.884M
YoY Change -41.28% -36.36% 256.58%
Interest Expense $50.00K $60.00K $30.00K
YoY Change 150.0% 100.0% 200.0%
% of Operating Profit
Other Income/Expense, Net -$217.0K -$481.0K $314.0K
YoY Change -405.63% -253.18% -445.05%
Pretax Income -$3.358M -$5.498M -$7.570M
YoY Change -36.38% -27.37% 228.84%
Income Tax $144.0K $154.0K $108.0K
% Of Pretax Income
Net Earnings -$3.502M -$5.652M -$7.678M
YoY Change -35.1% -26.39% 220.18%
Net Earnings / Revenue -8.52% -13.57% -19.81%
Basic Earnings Per Share -$0.22
Diluted Earnings Per Share -$96.66K -$159.0K -$0.22
COMMON SHARES
Basic Shares Outstanding 35.92M shares 35.35M shares 33.78M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.90M $27.50M $28.40M
YoY Change 21.72% -3.17% -5.96%
Cash & Equivalents $26.86M $27.45M $28.35M
Short-Term Investments
Other Short-Term Assets $7.388M $7.359M $2.826M
YoY Change 151.46% 160.4% 82.32%
Inventory
Prepaid Expenses $4.483M $5.639M $4.691M
Receivables $24.04M $25.91M $23.15M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $62.77M $66.36M $59.02M
YoY Change 13.17% 12.43% 7.5%
LONG-TERM ASSETS
Property, Plant & Equipment $10.15M $9.927M $9.065M
YoY Change 12.75% 9.51% -3.17%
Goodwill $50.78M $50.78M $50.78M
YoY Change 0.0% 0.0% 0.0%
Intangibles $6.340M $6.888M $9.585M
YoY Change -28.84% -28.14% -23.55%
Long-Term Investments
YoY Change
Other Assets $2.288M $2.211M $920.0K
YoY Change 145.76% 140.33% -6.12%
Total Long-Term Assets $69.64M $69.89M $70.48M
YoY Change -0.14% -0.83% -4.68%
TOTAL ASSETS
Total Short-Term Assets $62.77M $66.36M $59.02M
Total Long-Term Assets $69.64M $69.89M $70.48M
Total Assets $132.4M $136.3M $129.5M
YoY Change 5.75% 5.21% 0.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.041M $7.309M $8.467M
YoY Change -24.02% -13.68% 73.4%
Accrued Expenses $15.07M $13.74M $13.54M
YoY Change 13.11% 1.52% 19.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $200.0K
YoY Change -100.0% -100.0% -33.33%
Long-Term Debt Due $200.0K $0.00 $400.0K
YoY Change -33.33% -100.0% -33.33%
Total Short-Term Liabilities $59.78M $62.97M $58.68M
YoY Change 3.48% 7.32% 18.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.117M $1.044M $1.378M
YoY Change -10.85% -24.24% -40.06%
Total Long-Term Liabilities $1.117M $1.044M $1.378M
YoY Change -10.85% -24.24% -40.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.78M $62.97M $58.68M
Total Long-Term Liabilities $1.117M $1.044M $1.378M
Total Liabilities $61.17M $64.16M $60.09M
YoY Change 3.35% 6.77% 16.09%
SHAREHOLDERS EQUITY
Retained Earnings -$176.1M -$172.6M -$163.5M
YoY Change 4.25% 5.55% 13.09%
Common Stock $37.00K $36.00K $34.00K
YoY Change 5.71% 5.88% 3.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $871.0K $871.0K $871.0K
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 135.0K shares 135.0K shares 135.0K shares
Shareholders Equity $71.24M $72.10M $69.42M
YoY Change
Total Liabilities & Shareholders Equity $132.4M $136.3M $129.5M
YoY Change 5.75% 5.21% 0.51%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$3.502M -$5.652M -$7.678M
YoY Change -35.1% -26.39% 220.18%
Depreciation, Depletion And Amortization $1.730M $1.790M $1.940M
YoY Change -10.82% -7.73% -2.02%
Cash From Operating Activities -$480.0K -$690.0K -$110.0K
YoY Change -90.28% 527.27% -105.47%
INVESTING ACTIVITIES
Capital Expenditures -$1.080M -$1.230M -$820.0K
YoY Change -15.63% 50.0% -32.79%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.080M -$1.230M -$820.0K
YoY Change -15.63% 50.0% -32.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.120M 3.350M 20.00K
YoY Change -900.0% 16650.0% -114.29%
NET CHANGE
Cash From Operating Activities -480.0K -690.0K -110.0K
Cash From Investing Activities -1.080M -1.230M -820.0K
Cash From Financing Activities 1.120M 3.350M 20.00K
Net Change In Cash -440.0K 1.430M -910.0K
YoY Change -93.08% -257.14% -240.0%
FREE CASH FLOW
Cash From Operating Activities -$480.0K -$690.0K -$110.0K
Capital Expenditures -$1.080M -$1.230M -$820.0K
Free Cash Flow $600.0K $540.0K $710.0K
YoY Change -116.39% -23.94% -78.02%

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TradingSymbol
BCOV
bcov Percentage Of Revenue For Identifying Major Customers
PercentageOfRevenueForIdentifyingMajorCustomers
0.10 pure
us-gaap Share Based Compensation
ShareBasedCompensation
3500000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
28499000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35234974 shares
bcov Number Of Wholly Owned Subsidiaries
NumberOfWhollyOwnedSubsidiaries
9 Subsidiaries
bcov Percentage Of Revenue
PercentageOfRevenue
0.10 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34 pure
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7601000
CY2017Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
16578000
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.22
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5876000
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7570000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
108000
CY2017Q2 us-gaap Gross Profit
GrossProfit
22175000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-7678000
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
314000
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
77000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
30059000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-7884000
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8279000
CY2017Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
38753000
CY2017Q2 us-gaap Revenues
Revenues
38753000
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1686000
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15904000
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34247058 shares
CY2017Q2 bcov Percentage Of Revenue For Identifying Major Customers
PercentageOfRevenueForIdentifyingMajorCustomers
0.10 pure
CY2017Q2 bcov Percentage Of Revenue
PercentageOfRevenue
0.10 pure
CY2018Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2000000
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5972000
CY2018Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
16618000
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.16
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7045000
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5498000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
154000
CY2018Q2 us-gaap Gross Profit
GrossProfit
25036000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-5652000
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-481000
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-320000
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
30053000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-5017000
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7743000
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
41654000
CY2018Q2 us-gaap Revenues
Revenues
41654000
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1832000
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15265000
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35543307 shares
CY2018Q2 bcov Percentage Of Revenue
PercentageOfRevenue
0.10 pure

Files In Submission

Name View Source Status
0001193125-18-227776-index-headers.html Edgar Link pending
0001193125-18-227776-index.html Edgar Link pending
0001193125-18-227776.txt Edgar Link pending
0001193125-18-227776-xbrl.zip Edgar Link pending
bcov-20180630.xml Edgar Link completed
bcov-20180630.xsd Edgar Link pending
bcov-20180630_cal.xml Edgar Link unprocessable
bcov-20180630_def.xml Edgar Link unprocessable
bcov-20180630_lab.xml Edgar Link unprocessable
bcov-20180630_pre.xml Edgar Link unprocessable
d593083d10q.htm Edgar Link pending
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