$BCOV
Brightcove Inc

2020 Q2 Form 10-Q Financial Statement

#000119312520126267 Filed on April 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q4
Revenue $47.93M $46.65M $47.60M
YoY Change 0.73% 11.51% 16.49%
Cost Of Revenue $19.85M $18.64M $18.80M
YoY Change -8.14% 11.32% 14.08%
Gross Profit $28.08M $28.01M $28.80M
YoY Change 8.11% 11.64% 18.11%
Gross Profit Margin 58.59% 60.04% 60.51%
Selling, General & Admin $19.64M $20.71M $22.93M
YoY Change -13.88% 6.09% 26.34%
% of Gross Profit 69.94% 73.92% 79.61%
Research & Development $8.030M $8.853M $9.390M
YoY Change 5.26% 19.73% 19.16%
% of Gross Profit 28.6% 31.61% 32.6%
Depreciation & Amortization $1.950M $2.408M $2.270M
YoY Change -12.16% 40.57% 38.41%
% of Gross Profit 6.94% 8.6% 7.88%
Operating Expenses $27.67M $35.07M $32.31M
YoY Change -16.29% 17.51% 23.37%
Operating Profit $410.0K -$7.057M -$6.870M
YoY Change -105.79% 48.47% 171.86%
Interest Expense -$30.00K -$470.0K
YoY Change
% of Operating Profit -7.32%
Other Income/Expense, Net -$468.0K $200.0K
YoY Change 750.91% 566.67%
Pretax Income -$1.180M -$7.525M -$6.670M
YoY Change -83.29% 56.51% 174.49%
Income Tax $120.0K $328.0K $40.00K
% Of Pretax Income
Net Earnings -$1.300M -$7.853M -$6.712M
YoY Change -82.04% 57.6% 156.48%
Net Earnings / Revenue -2.71% -16.83% -14.1%
Basic Earnings Per Share
Diluted Earnings Per Share -$33.09K -$201.4K -$172.5K
COMMON SHARES
Basic Shares Outstanding 38.98M 38.96M 38.80M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.80M $32.10M $22.80M
YoY Change 31.13% 11.07% -22.18%
Cash & Equivalents $0.00 $32.09M $22.76M
Short-Term Investments
Other Short-Term Assets $17.30M $7.311M $6.713M
YoY Change 108.06% 3.44% -5.05%
Inventory
Prepaid Expenses $7.565M $5.171M
Receivables $26.80M $27.33M $31.18M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $71.90M $74.30M $65.82M
YoY Change 3.4% 10.78% 2.04%
LONG-TERM ASSETS
Property, Plant & Equipment $28.10M $13.38M $12.09M
YoY Change 181.68% 40.03% 24.56%
Goodwill $60.90M $60.90M
YoY Change 19.94% 19.94%
Intangibles $12.90M $13.88M
YoY Change 134.43% 134.41%
Long-Term Investments
YoY Change
Other Assets $3.500M $2.984M $3.268M
YoY Change 18.81% 26.44% 33.28%
Total Long-Term Assets $104.6M $105.1M $107.0M
YoY Change 4.58% 21.79% 55.47%
TOTAL ASSETS
Total Short-Term Assets $71.90M $74.30M $65.82M
Total Long-Term Assets $104.6M $105.1M $107.0M
Total Assets $176.5M $179.4M $172.9M
YoY Change 4.1% 16.98% 29.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.30M $12.43M $9.917M
YoY Change 60.03% 58.54% 28.59%
Accrued Expenses $26.20M $19.66M $20.93M
YoY Change 20.14% 35.45% 49.66%
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 $92.20M $90.32M $86.28M
YoY Change 8.36% 24.94% 40.19%
LONG-TERM LIABILITIES
Long-Term Debt $5.000M $10.00M $0.00
YoY Change
Other Long-Term Liabilities $9.700M $538.0K $767.0K
YoY Change 1946.41% 86.16% -36.19%
Total Long-Term Liabilities $14.70M $10.54M $767.0K
YoY Change 3001.27% 3546.37% -36.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $92.20M $90.32M $86.28M
Total Long-Term Liabilities $14.70M $10.54M $767.0K
Total Liabilities $106.9M $110.8M $98.74M
YoY Change 9.69% 29.51% 57.38%
SHAREHOLDERS EQUITY
Retained Earnings -$208.5M -$200.6M
YoY Change 13.49% 12.26%
Common Stock $39.00K $39.00K
YoY Change 5.41% 5.41%
Preferred Stock
YoY Change
Treasury Stock (at cost) $871.0K $871.0K
YoY Change 0.0% 0.0%
Treasury Stock Shares $135.0K $135.0K
Shareholders Equity $69.60M $68.56M $74.12M
YoY Change
Total Liabilities & Shareholders Equity $176.5M $179.4M $172.9M
YoY Change 4.1% 16.98% 29.63%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q4
OPERATING ACTIVITIES
Net Income -$1.300M -$7.853M -$6.712M
YoY Change -82.04% 57.6% 156.48%
Depreciation, Depletion And Amortization $1.950M $2.408M $2.270M
YoY Change -12.16% 40.57% 38.41%
Cash From Operating Activities $2.860M $2.441M $2.080M
YoY Change -169.08% 828.14% -25.18%
INVESTING ACTIVITIES
Capital Expenditures -$2.350M $720.0K -$2.420M
YoY Change 48.73% 195.08% 255.88%
Acquisitions
YoY Change
Other Investing Activities $0.00 $60.00K
YoY Change -100.0%
Cash From Investing Activities -$2.350M -$2.693M -$2.350M
YoY Change -51.84% 126.3% 245.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.040M 10.01M 170.0K
YoY Change -534.48% 1665.43% -29.17%
NET CHANGE
Cash From Operating Activities 2.860M 2.441M 2.080M
Cash From Investing Activities -2.350M -2.693M -2.350M
Cash From Financing Activities -5.040M 10.01M 170.0K
Net Change In Cash -4.530M 9.330M -100.0K
YoY Change -42.37% -2706.15% -104.27%
FREE CASH FLOW
Cash From Operating Activities $2.860M $2.441M $2.080M
Capital Expenditures -$2.350M $720.0K -$2.420M
Free Cash Flow $5.210M $1.721M $4.500M
YoY Change -303.52% 8957.89% 30.06%

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CY2019Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
135000
CY2019Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2932000
CY2019Q1 bcov Increase Decrease In Operating Leases
IncreaseDecreaseInOperatingLeases
-68000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1824000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1904000
CY2020Q1 us-gaap Short Term Investments
ShortTermInvestments
0
CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
0
CY2020Q1 us-gaap Long Term Investments
LongTermInvestments
0
CY2019Q4 us-gaap Long Term Investments
LongTermInvestments
0
CY2020Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
10000000
CY2020Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
10000000
CY2019Q1 bcov Percentage Of Revenue
PercentageOfRevenue
0.10
CY2020Q1 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.
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
904000
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
439000
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
0
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
693000
CY2020Q1 bcov Allowance For Doubtful Accounts Provision For Credit Losses
AllowanceForDoubtfulAccountsProvisionForCreditLosses
228000
CY2020Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.04
CY2020Q1 us-gaap Line Of Credit
LineOfCredit
10000000
CY2020Q1 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2021-12-01

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