$BCOV
Brightcove Inc

2019 Q4 Form 10-Q Financial Statement

#000119312519272587 Filed on October 23, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $47.60M $47.43M $41.12M
YoY Change 16.49% 15.35% 4.14%
Cost Of Revenue $18.80M $18.31M $16.32M
YoY Change 14.08% 12.23% -1.13%
Gross Profit $28.80M $29.12M $24.80M
YoY Change 18.11% 17.41% 7.92%
Gross Profit Margin 60.51% 61.39% 60.32%
Selling, General & Admin $22.93M $20.81M $19.63M
YoY Change 26.34% 6.02% -4.3%
% of Gross Profit 79.61% 71.47% 79.14%
Research & Development $9.390M $8.127M $8.314M
YoY Change 19.16% -2.25% 6.32%
% of Gross Profit 32.6% 27.91% 33.52%
Depreciation & Amortization $2.270M $2.220M $1.730M
YoY Change 38.41% 28.32% -10.82%
% of Gross Profit 7.88% 7.62% 6.97%
Operating Expenses $32.31M $31.48M $27.94M
YoY Change 23.37% 12.65% -1.37%
Operating Profit -$6.870M -$2.358M -$3.141M
YoY Change 171.86% -24.93% -41.28%
Interest Expense $50.00K
YoY Change 150.0%
% of Operating Profit
Other Income/Expense, Net $200.0K -$441.0K -$217.0K
YoY Change 566.67% 103.23% -405.63%
Pretax Income -$6.670M -$2.799M -$3.358M
YoY Change 174.49% -16.65% -36.38%
Income Tax $40.00K $171.0K $144.0K
% Of Pretax Income
Net Earnings -$6.712M -$2.970M -$3.502M
YoY Change 156.48% -15.19% -35.1%
Net Earnings / Revenue -14.1% -6.26% -8.52%
Basic Earnings Per Share
Diluted Earnings Per Share -$172.5K -$77.02K -$96.66K
COMMON SHARES
Basic Shares Outstanding 38.80M 38.28M 35.92M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.80M $22.60M $26.90M
YoY Change -22.18% -15.99% 21.72%
Cash & Equivalents $22.76M $22.65M $26.86M
Short-Term Investments
Other Short-Term Assets $6.713M $6.755M $7.388M
YoY Change -5.05% -8.57% 151.46%
Inventory
Prepaid Expenses $5.171M $5.687M $4.483M
Receivables $31.18M $31.49M $24.04M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $65.82M $66.58M $62.77M
YoY Change 2.04% 6.07% 13.17%
LONG-TERM ASSETS
Property, Plant & Equipment $12.09M $11.14M $10.15M
YoY Change 24.56% 9.74% 12.75%
Goodwill $60.90M $61.01M $50.78M
YoY Change 19.94% 20.16% 0.0%
Intangibles $13.88M $14.97M $6.340M
YoY Change 134.41% 136.07% -28.84%
Long-Term Investments
YoY Change
Other Assets $3.268M $3.005M $2.288M
YoY Change 33.28% 31.34% 145.76%
Total Long-Term Assets $107.0M $105.5M $69.64M
YoY Change 55.47% 51.55% -0.14%
TOTAL ASSETS
Total Short-Term Assets $65.82M $66.58M $62.77M
Total Long-Term Assets $107.0M $105.5M $69.64M
Total Assets $172.9M $172.1M $132.4M
YoY Change 29.63% 29.99% 5.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.917M $11.17M $5.041M
YoY Change 28.59% 121.6% -24.02%
Accrued Expenses $20.93M $18.83M $15.07M
YoY Change 49.66% 24.99% 13.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $200.0K
YoY Change -33.33%
Total Short-Term Liabilities $86.28M $85.24M $59.78M
YoY Change 40.19% 42.6% 3.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $767.0K $890.0K $1.117M
YoY Change -36.19% -20.32% -10.85%
Total Long-Term Liabilities $767.0K $890.0K $1.117M
YoY Change -36.19% -20.32% -10.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $86.28M $85.24M $59.78M
Total Long-Term Liabilities $767.0K $890.0K $1.117M
Total Liabilities $98.74M $96.60M $61.17M
YoY Change 57.38% 57.91% 3.35%
SHAREHOLDERS EQUITY
Retained Earnings -$200.6M -$193.9M -$176.1M
YoY Change 12.26% 10.11% 4.25%
Common Stock $39.00K $39.00K $37.00K
YoY Change 5.41% 5.41% 5.71%
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 $135.0K 135.0K shares
Shareholders Equity $74.12M $75.52M $71.24M
YoY Change
Total Liabilities & Shareholders Equity $172.9M $172.1M $132.4M
YoY Change 29.63% 29.99% 5.75%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$6.712M -$2.970M -$3.502M
YoY Change 156.48% -15.19% -35.1%
Depreciation, Depletion And Amortization $2.270M $2.220M $1.730M
YoY Change 38.41% 28.32% -10.82%
Cash From Operating Activities $2.080M $4.510M -$480.0K
YoY Change -25.18% -1039.58% -90.28%
INVESTING ACTIVITIES
Capital Expenditures -$2.420M -$2.090M -$1.080M
YoY Change 255.88% 93.52% -15.63%
Acquisitions
YoY Change
Other Investing Activities $60.00K -$2.100M
YoY Change
Cash From Investing Activities -$2.350M -$4.200M -$1.080M
YoY Change 245.59% 288.89% -15.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 170.0K 1.280M 1.120M
YoY Change -29.17% 14.29% -900.0%
NET CHANGE
Cash From Operating Activities 2.080M 4.510M -480.0K
Cash From Investing Activities -2.350M -4.200M -1.080M
Cash From Financing Activities 170.0K 1.280M 1.120M
Net Change In Cash -100.0K 1.590M -440.0K
YoY Change -104.27% -461.36% -93.08%
FREE CASH FLOW
Cash From Operating Activities $2.080M $4.510M -$480.0K
Capital Expenditures -$2.420M -$2.090M -$1.080M
Free Cash Flow $4.500M $6.600M $600.0K
YoY Change 30.06% 1000.0% -116.39%

Facts In Submission

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InvestmentOwnedBalancePrincipalAmount
29306000
CY2019Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
41000
CY2019Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
41000
CY2018Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
8299000
CY2018Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
8299000
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1721000
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1522000
us-gaap Share Based Compensation
ShareBasedCompensation
4504000
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
21000000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M3D
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.21
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.89
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.54
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.16
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
171000
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
144000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
521000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
410000
bcov Number Of Wholly Owned Subsidiaries
NumberOfWhollyOwnedSubsidiaries
14
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.
CY2019Q3 bcov Outstanding Borrowings
OutstandingBorrowings
0
CY2019Q3 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
us-gaap Loss Contingency Patents Allegedly Infringed Number
LossContingencyPatentsAllegedlyInfringedNumber
4
CY2019Q3 bcov Number Of Customers Accounted For More Than Ten Percentage Of Revenue
NumberOfCustomersAccountedForMoreThanTenPercentageOfRevenue
0
CY2018Q4 bcov Number Of Customers Accounted For More Than Ten Percentage Of Revenue
NumberOfCustomersAccountedForMoreThanTenPercentageOfRevenue
0
CY2019Q3 bcov Number Of Customers Accounted For More Than Ten Percentage Of Accounts Receivable
NumberOfCustomersAccountedForMoreThanTenPercentageOfAccountsReceivable
0
CY2018Q3 bcov Number Of Customers Accounted For More Than Ten Percentage Of Accounts Receivable
NumberOfCustomersAccountedForMoreThanTenPercentageOfAccountsReceivable
0
CY2018Q3 bcov Percentage Of Revenue For Identifying Major Customers
PercentageOfRevenueForIdentifyingMajorCustomers
0.10
CY2019Q3 bcov Percentage Of Revenue For Identifying Major Customers
PercentageOfRevenueForIdentifyingMajorCustomers
0.10
CY2018Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
5900000
CY2019Q3 us-gaap Short Term Investments
ShortTermInvestments
0
CY2018Q4 us-gaap Short Term Investments
ShortTermInvestments
0
CY2019Q3 us-gaap Long Term Investments
LongTermInvestments
0
CY2018Q4 us-gaap Long Term Investments
LongTermInvestments
0
CY2019Q3 us-gaap Revenues
Revenues
47434000
CY2018Q3 us-gaap Revenues
Revenues
41121000
us-gaap Revenues
Revenues
123969000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5402000
us-gaap Stock Issued1
StockIssued1
12250000
CY2018Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
48736000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
144467000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
146814000
CY2018Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-4215000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-13904000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-12151000
CY2018Q3 bcov Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.11
bcov Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.37
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
bcov Percentage Of Revenue
PercentageOfRevenue
0.10
CY2019Q3 bcov Percentage Of Accounts Receivable Identifying Major Customers
PercentageOfAccountsReceivableIdentifyingMajorCustomers
0.10
CY2018Q4 bcov Percentage Of Accounts Receivable Identifying Major Customers
PercentageOfAccountsReceivableIdentifyingMajorCustomers
0.10
CY2019Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
38800842
dei Trading Symbol
TradingSymbol
BCOV
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Security12b Title
Security12bTitle
Common Stock
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
CY2018Q3 bcov Percentage Of Revenue
PercentageOfRevenue
0.10
bcov Percentage Of Revenue
PercentageOfRevenue
0.10
bcov Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.33
us-gaap Revenues
Revenues
136852000
CY2019Q3 bcov Percentage Of Revenue
PercentageOfRevenue
0.10
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1746000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
6072000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
5349000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2262000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1069000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
954000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
17452000
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
2000000
us-gaap Operating Lease Expense
OperatingLeaseExpense
5800000
CY2018Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
1900000
us-gaap Operating Lease Expense
OperatingLeaseExpense
5900000
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
us-gaap Restructuring Charges
RestructuringCharges
752000
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
BRIGHTCOVE INC
dei Entity Central Index Key
EntityCentralIndexKey
0001313275
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Shell Company
EntityShellCompany
false
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
10234000

Files In Submission

Name View Source Status
0001193125-19-272587-index-headers.html Edgar Link pending
0001193125-19-272587-index.html Edgar Link pending
0001193125-19-272587.txt Edgar Link pending
0001193125-19-272587-xbrl.zip Edgar Link pending
bcov-20190930.xml Edgar Link completed
bcov-20190930.xsd Edgar Link pending
bcov-20190930_cal.xml Edgar Link unprocessable
bcov-20190930_def.xml Edgar Link unprocessable
bcov-20190930_lab.xml Edgar Link unprocessable
bcov-20190930_pre.xml Edgar Link unprocessable
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