2020 Q1 Form 10-K Financial Statement

#000119312520050382 Filed on February 27, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019 Q3
Revenue $46.65M $47.60M $47.43M
YoY Change 11.51% 16.49% 15.35%
Cost Of Revenue $18.64M $18.80M $18.31M
YoY Change 11.32% 14.08% 12.23%
Gross Profit $28.01M $28.80M $29.12M
YoY Change 11.64% 18.11% 17.41%
Gross Profit Margin 60.04% 60.51% 61.39%
Selling, General & Admin $20.71M $22.93M $20.81M
YoY Change 6.09% 26.34% 6.02%
% of Gross Profit 73.92% 79.61% 71.47%
Research & Development $8.853M $9.390M $8.127M
YoY Change 19.73% 19.16% -2.25%
% of Gross Profit 31.61% 32.6% 27.91%
Depreciation & Amortization $2.408M $2.270M $2.220M
YoY Change 40.57% 38.41% 28.32%
% of Gross Profit 8.6% 7.88% 7.62%
Operating Expenses $35.07M $32.31M $31.48M
YoY Change 17.51% 23.37% 12.65%
Operating Profit -$7.057M -$6.870M -$2.358M
YoY Change 48.47% 171.86% -24.93%
Interest Expense -$470.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$468.0K $200.0K -$441.0K
YoY Change 750.91% 566.67% 103.23%
Pretax Income -$7.525M -$6.670M -$2.799M
YoY Change 56.51% 174.49% -16.65%
Income Tax $328.0K $40.00K $171.0K
% Of Pretax Income
Net Earnings -$7.853M -$6.712M -$2.970M
YoY Change 57.6% 156.48% -15.19%
Net Earnings / Revenue -16.83% -14.1% -6.26%
Basic Earnings Per Share
Diluted Earnings Per Share -$201.4K -$172.5K -$77.02K
COMMON SHARES
Basic Shares Outstanding 38.96M 38.80M 38.28M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.10M $22.80M $22.60M
YoY Change 11.07% -22.18% -15.99%
Cash & Equivalents $32.09M $22.76M $22.65M
Short-Term Investments
Other Short-Term Assets $7.311M $6.713M $6.755M
YoY Change 3.44% -5.05% -8.57%
Inventory
Prepaid Expenses $7.565M $5.171M $5.687M
Receivables $27.33M $31.18M $31.49M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $74.30M $65.82M $66.58M
YoY Change 10.78% 2.04% 6.07%
LONG-TERM ASSETS
Property, Plant & Equipment $13.38M $12.09M $11.14M
YoY Change 40.03% 24.56% 9.74%
Goodwill $60.90M $60.90M $61.01M
YoY Change 19.94% 19.94% 20.16%
Intangibles $12.90M $13.88M $14.97M
YoY Change 134.43% 134.41% 136.07%
Long-Term Investments
YoY Change
Other Assets $2.984M $3.268M $3.005M
YoY Change 26.44% 33.28% 31.34%
Total Long-Term Assets $105.1M $107.0M $105.5M
YoY Change 21.79% 55.47% 51.55%
TOTAL ASSETS
Total Short-Term Assets $74.30M $65.82M $66.58M
Total Long-Term Assets $105.1M $107.0M $105.5M
Total Assets $179.4M $172.9M $172.1M
YoY Change 16.98% 29.63% 29.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.43M $9.917M $11.17M
YoY Change 58.54% 28.59% 121.6%
Accrued Expenses $19.66M $20.93M $18.83M
YoY Change 35.45% 49.66% 24.99%
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 $90.32M $86.28M $85.24M
YoY Change 24.94% 40.19% 42.6%
LONG-TERM LIABILITIES
Long-Term Debt $10.00M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $538.0K $767.0K $890.0K
YoY Change 86.16% -36.19% -20.32%
Total Long-Term Liabilities $10.54M $767.0K $890.0K
YoY Change 3546.37% -36.19% -20.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.32M $86.28M $85.24M
Total Long-Term Liabilities $10.54M $767.0K $890.0K
Total Liabilities $110.8M $98.74M $96.60M
YoY Change 29.51% 57.38% 57.91%
SHAREHOLDERS EQUITY
Retained Earnings -$208.5M -$200.6M -$193.9M
YoY Change 13.49% 12.26% 10.11%
Common Stock $39.00K $39.00K $39.00K
YoY Change 5.41% 5.41% 5.41%
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
Shareholders Equity $68.56M $74.12M $75.52M
YoY Change
Total Liabilities & Shareholders Equity $179.4M $172.9M $172.1M
YoY Change 16.98% 29.63% 29.99%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income -$7.853M -$6.712M -$2.970M
YoY Change 57.6% 156.48% -15.19%
Depreciation, Depletion And Amortization $2.408M $2.270M $2.220M
YoY Change 40.57% 38.41% 28.32%
Cash From Operating Activities $2.441M $2.080M $4.510M
YoY Change 828.14% -25.18% -1039.58%
INVESTING ACTIVITIES
Capital Expenditures $720.0K -$2.420M -$2.090M
YoY Change 195.08% 255.88% 93.52%
Acquisitions
YoY Change
Other Investing Activities $60.00K -$2.100M
YoY Change
Cash From Investing Activities -$2.693M -$2.350M -$4.200M
YoY Change 126.3% 245.59% 288.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.01M 170.0K 1.280M
YoY Change 1665.43% -29.17% 14.29%
NET CHANGE
Cash From Operating Activities 2.441M 2.080M 4.510M
Cash From Investing Activities -2.693M -2.350M -4.200M
Cash From Financing Activities 10.01M 170.0K 1.280M
Net Change In Cash 9.330M -100.0K 1.590M
YoY Change -2706.15% -104.27% -461.36%
FREE CASH FLOW
Cash From Operating Activities $2.441M $2.080M $4.510M
Capital Expenditures $720.0K -$2.420M -$2.090M
Free Cash Flow $1.721M $4.500M $6.600M
YoY Change 8957.89% 30.06% 1000.0%

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CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
7900000
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.043
CY2019Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
41000
CY2019Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
41000
CY2018Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
8299000
CY2019 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2019 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2019 dei Entity Shell Company
EntityShellCompany
false
CY2019 dei Entity Small Business
EntitySmallBusiness
false
CY2019 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2019 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2019 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2019 dei Security12b Title
Security12bTitle
Common Stock
CY2019 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2019 dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
384000
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
7243000
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
203000
CY2017 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3811000
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1484000
CY2017 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-94000
CY2017 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2930000
CY2017 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
4748000
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1102000
CY2017 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
3010000
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4112000
CY2017 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
520000
CY2017 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1064000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-544000
CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
416000
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10681000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36813000
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
500000
CY2017 us-gaap Interest Paid Net
InterestPaidNet
26000
CY2017 bcov Capitalization Of Stock Based Compensation Related To Software For Internal Use
CapitalizationOfStockBasedCompensationRelatedToSoftwareForInternalUse
221000
CY2017 bcov Unpaid Internal Use Software Costs
UnpaidInternalUseSoftwareCosts
28000
CY2019 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2019 bcov Percentage Of Revenue For Identifying Major Customers
PercentageOfRevenueForIdentifyingMajorCustomers
0.10
CY2018 bcov Percentage Of Revenue For Identifying Major Customers
PercentageOfRevenueForIdentifyingMajorCustomers
0.10
CY2017 bcov Percentage Of Revenue For Identifying Major Customers
PercentageOfRevenueForIdentifyingMajorCustomers
0.10
CY2019Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
6574000
CY2018Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
3152000
CY2017Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
3239000
CY2019 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
3784000
CY2018 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2962000
CY2017 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1867000
CY2019 bcov Depreciation And Amortization Including Internal Use Software Development Costs
DepreciationAndAmortizationIncludingInternalUseSoftwareDevelopmentCosts
5217000
CY2018 bcov Depreciation And Amortization Including Internal Use Software Development Costs
DepreciationAndAmortizationIncludingInternalUseSoftwareDevelopmentCosts
4479000
CY2017 bcov Depreciation And Amortization Including Internal Use Software Development Costs
DepreciationAndAmortizationIncludingInternalUseSoftwareDevelopmentCosts
4523000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.49
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.11
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.08
CY2019Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
22423000
CY2019 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M24D
CY2019 us-gaap Advertising Expense
AdvertisingExpense
2658000
CY2018 us-gaap Advertising Expense
AdvertisingExpense
2657000
CY2017 us-gaap Advertising Expense
AdvertisingExpense
2485000
CY2019 bcov Number Of Share Based Compensation Plans
NumberOfShareBasedCompensationPlans
5
CY2019Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2018Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Payments
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendPayments
0
CY2018Q4 bcov Number Of Customers Accounted For More Than Ten Percentage Of Accounts Receivable
NumberOfCustomersAccountedForMoreThanTenPercentageOfAccountsReceivable
0
CY2019Q4 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
CY2017Q4 bcov Number Of Customers Accounted For More Than Ten Percentage Of Revenue
NumberOfCustomersAccountedForMoreThanTenPercentageOfRevenue
0
CY2019Q4 bcov Number Of Customers Accounted For More Than Ten Percentage Of Accounts Receivable
NumberOfCustomersAccountedForMoreThanTenPercentageOfAccountsReceivable
0
CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
0
CY2018Q4 us-gaap Short Term Investments
ShortTermInvestments
0
CY2019Q4 us-gaap Long Term Investments
LongTermInvestments
0
CY2017 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
211000
CY2018Q4 us-gaap Long Term Investments
LongTermInvestments
0
CY2019Q4 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
22759000
CY2019Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
22759000
CY2019Q4 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
22759000
CY2018Q4 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
29306000
CY2018Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
29306000
CY2018Q4 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
29306000
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
190000
CY2019 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
423000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
904000
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
146000
CY2018 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
155000
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
154000
CY2019 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.
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7195000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4777000
CY2019Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
2323000
CY2018Q4 us-gaap Taxes Payable Current
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1639000
CY2019Q4 us-gaap Accrued Professional Fees Current
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3638000
CY2018Q4 us-gaap Accrued Professional Fees Current
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1253000
CY2019Q4 bcov Accrued Content Delivery Current
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3821000
CY2018Q4 bcov Accrued Content Delivery Current
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2979000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3948000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3334000
CY2019 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2019Q4 us-gaap Revenues
Revenues
47603000
CY2019Q3 us-gaap Revenues
Revenues
47434000
CY2019Q2 us-gaap Revenues
Revenues
47582000
CY2019Q1 us-gaap Revenues
Revenues
41836000
CY2018Q4 us-gaap Revenues
Revenues
40864000
CY2018Q3 us-gaap Revenues
Revenues
41121000
CY2018Q2 us-gaap Revenues
Revenues
41654000
CY2018Q1 us-gaap Revenues
Revenues
41194000
CY2019Q4 us-gaap Gross Profit
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28803000
CY2019Q3 us-gaap Gross Profit
GrossProfit
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CY2019Q2 us-gaap Gross Profit
GrossProfit
25973000
CY2019Q1 us-gaap Gross Profit
GrossProfit
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CY2018Q4 us-gaap Gross Profit
GrossProfit
24387000
CY2018Q3 us-gaap Gross Profit
GrossProfit
24803000
CY2018Q2 us-gaap Gross Profit
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25036000
CY2018Q1 us-gaap Gross Profit
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23983000
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-7082000
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4753000
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-2527000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3141000
CY2018Q2 us-gaap Operating Income Loss
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-5017000
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
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CY2018Q1 us-gaap Operating Income Loss
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-2416000
CY2019Q4 us-gaap Net Income Loss
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CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-2970000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2019Q1 us-gaap Net Income Loss
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CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2018Q1 us-gaap Net Income Loss
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CY2019Q4 us-gaap Earnings Per Share Basic And Diluted
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CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
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CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
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-0.19
CY2018Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.16
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.06
CY2018 bcov Percentage Of Revenue
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0.10
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
33921000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
20046000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
13875000
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
22760000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16841000
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5919000
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
392000
CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
424000
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
425000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3205000
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2317000
CY2017 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2734000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3410000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2994000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2037000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1793000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1571000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
2070000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-23388000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-15026000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-20528000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2045000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1599000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1379000
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
18000
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
19000
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
21000
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
626000
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
464000
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
311000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
644000
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
483000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
332000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
7000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
8000
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-99000
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
118000
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
38000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-84000
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
118000
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
38000
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.042
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.055
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.041
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.001
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-1.039
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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-0.050
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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-0.071
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.007
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.014
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0.007
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.044
CY2018 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.061
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.037
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.268
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.292
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.663
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.005
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.003
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
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-0.026
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.045
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.019
CY2017 us-gaap Lease And Rental Expense
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6600000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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3500000
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P3Y
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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6786000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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6186000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2840000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1644000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1525000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
210000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
19191000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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2479423
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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3626364
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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2136689
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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8242476
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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4897000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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1243000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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43886000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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41440000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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11602000
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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10327000
CY2020Q1 dei Entity Common Stock Shares Outstanding
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38957059
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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1364000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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974000
CY2019Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
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213000
CY2018Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
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179000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
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420000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
136000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
1026000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
910000
CY2019Q4 bcov Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
4005000
CY2019Q4 bcov Deferred Tax Assets Capitalized Start Up Costs
DeferredTaxAssetsCapitalizedStartUpCosts
46000
CY2018Q4 bcov Deferred Tax Assets Capitalized Start Up Costs
DeferredTaxAssetsCapitalizedStartUpCosts
92000
CY2019Q4 bcov Deferred Tax Assets Liabilities Other
DeferredTaxAssetsLiabilitiesOther
-1479000
CY2018Q4 bcov Deferred Tax Assets Liabilities Other
DeferredTaxAssetsLiabilitiesOther
-325000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
64041000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
54383000
CY2019Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
1422000
CY2018Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
1520000
CY2019Q4 bcov Deferred Tax Liabilitites Lease Assets
DeferredTaxLiabilititesLeaseAssets
3951000
CY2019Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
3435000
CY2018Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
3100000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
8808000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
4620000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
55507000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
49791000
CY2019Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
274000
CY2018Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
28000
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
5700000
CY2019 us-gaap Operating Loss Carryforwards Expiration Date
OperatingLossCarryforwardsExpirationDate
2039-12-31
CY2019 us-gaap Tax Credit Carryforward Expiration Date
TaxCreditCarryforwardExpirationDate
2039-12-31
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019 dei Document Type
DocumentType
10-K
CY2019 dei Entity Registrant Name
EntityRegistrantName
BRIGHTCOVE INC.
CY2019 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2017 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1758000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2708000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2550000
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6441000
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
7382000
CY2019 us-gaap Stock Issued1
StockIssued1
12250000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
47475000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
39878000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
35389000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
30175000
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2900000
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
CY2019 dei Trading Symbol
TradingSymbol
BCOV
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates and Uncertainties </div></div></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts expensed during the reporting period. </div></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Significant estimates relied upon in preparing these consolidated financial statements include revenue recognition and revenue reserves, contingent liabilities, intangible asset valuations, and the realizability of the Company&#8217;s deferred tax assets. </div></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results may differ from management&#8217;s estimates if these results differ from historical experience, or other assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made. </div></div><div style="font-size: 1px; margin-top: 12px; margin-bottom: 0px;"><div style="font-size: 1px; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company is subject to a number of risks and uncertainties common to companies in similar industries and stages of development including, but not limited to, rapid technological changes, competition from substitute products and services from larger companies, customer concentration, management of international activities, protection of proprietary rights, patent litigation, and dependence on key individuals. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-weight:bold;display:inline;"><div style="white-space: nowrap; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Off-Balance</div> Sheet Risk and Concentration of Credit Risk </div></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;">The Company has no significant <div style="white-space: nowrap; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">off-balance</div> sheet risk, such as foreign exchange contracts, option contracts, or other foreign hedging arrangements. Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and trade accounts receivable. The Company maintains its cash and cash equivalents principally with accredited financial institutions of high credit standing. Although the Company deposits its cash with multiple financial institutions, its deposits, at times, may exceed federally insured limits. The Company generally has not experienced any material losses related to receivables from individual customers, or groups of customers. The Company does not require collateral. Due to these factors, no additional credit risk beyond amounts provided for collection losses is believed by management to be probable in the Company&#8217;s accounts receivable.</div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">For the years ended December&#160;31, 2019, 2018 and 2017, no individual customer accounted for more than 10% of total revenue. As of December&#160;31, 2019 and 2018, no individual customer accounted for more than 10% of accounts receivable, net. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2019 us-gaap Payments For Merger Related Costs
PaymentsForMergerRelatedCosts
11447000
CY2018 us-gaap Payments For Merger Related Costs
PaymentsForMergerRelatedCosts
716000
CY2017 us-gaap Payments For Merger Related Costs
PaymentsForMergerRelatedCosts
0
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1316000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
17875000

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