Brightcove Needs More Time
Stephen Percoco, CFA
Stephen Percoco, CFA
Brightcove Third Quarter Update
Stephen Percoco, CFA
Stephen Percoco, CFA
Stephen Percoco, CFA
Stephen Percoco, CFA
Thu, Apr. 28, 4:15 PM
Wed, Apr. 27, 5:35 PM
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Fri, Feb. 12, 12:29 PM
- Having gone into earnings $0.21 above a 52-week low of $4.70, Brightcove (BCOV +16.3%) has surged after beating Q4 estimates and guiding for 2016 revenue of $145M-$147M, above a $143.9M consensus and reported 2015 revenue of $134.7M.
- 2016 EPS guidance is at $0.02-$0.07 vs. a $0.06 consensus. Q1 guidance is for revenue of $34.7M-$35.2M and EPS of -$0.01 to $0.01 vs. a consensus of $35.3M and $0.00.
- Continuing recent trends, total customers for Brightcove's online video platform fell by 115 Q/Q to 5,047, while premium customers rose by 11 to 1,863. Average revenue per premium customer rose by $2K Q/Q and $9K Y/Y to $69K. New media customers included CBS Shows and Readers Digest; new digital marketing (ad) customers included AMC, Cars.com, Ford, and Starwood.
- GAAP operating expenses fell by $100K Y/Y to $23.5M. Brightcove ended 2015 with $27.6M in cash and no debt.
- Brightcove's Q4 results, earnings release
Thu, Feb. 11, 4:08 PM
Wed, Feb. 10, 5:35 PM
Thu, Jan. 21, 11:12 AM
- Less than 24 hours after Fortune reported IBM (IBM +1.7%) is in talks to buy live video streaming/delivery platform Ustream, IBM has confirmed the deal. As usual for IBM acquisitions, terms are undisclosed.
- IBM: "[Ustream] streams live and on-demand video to about 80 million viewers per month for customers such as NASA, Samsung, Facebook, Nike and The Discovery Channel ... IBM will deliver a powerful portfolio of video services that spans open API development, digital and visual analytics, simplified management and consistent delivery across global industries." The company also talks up the Ustream Development Platform (lets clients create custom video apps) and Ustream's social sentiment analytics services (used to gauge audience reactions to streams).
- Assets from Ustream will be added to a new Cloud Video Services unit that also features assets from recently-acquired Clearleap (provides video streaming, encoding, management, and monetization services), technologies obtained from the acquisitions of Cleversafe (object storage systems) and Aspera (high-speed file transfer software), and "IBM R&D innovations."
- The Ustream and Clearleap purchases follow public cloud rival Amazon's purchase of major video encoding/delivery software and services provider Elemental Technologies. Brightcove (BCOV +0.7%) is a notable independent player in the video streaming/monetization space.
- With the help of higher markets (the S&P is up 1.1%), IBM is bouncing a day after falling sharply in the wake of its Q4 report and light 2016 guidance.
- Prior IBM coverage
- Update: Bloomberg and the WSJ report IBM paid $130M for Ustream. Fortune previously reported of an acquisition price of $130M in cash + earn-out and retention payments.
Oct. 30, 2015, 2:47 PM
- Brightcove (NASDAQ:BCOV) is back above $6 after beating Q3 estimates and guiding for Q4 revenue of $33.8M-$34.3M and EPS of $0.01-$0.02 vs. a consensus of $34.1M and $0.00. Given low expectations and prior disappointments, that outlook is going over well.
- Customers for Brightcove's online video hosting/monetization platform fell by 242 Q/Q to 5,162. However, premium customers rose by 5 to 1,852, and average revenue per premium customer rose by $3K Q/Q and $6K Y/Y to $67K.
- Lifting EPS: GAAP operating expenses fell by $400K Y/Y to $23.M. Free cash flow was $3.1M, up from $1.5M a year ago and better than net income of $1.1M.
- Q3 results, PR
Oct. 29, 2015, 4:20 PM
- Brightcove (NASDAQ:BCOV): Q3 EPS of $0.03 beats by $0.05.
- Revenue of $33.83M (+7.3% Y/Y) beats by $0.75M.
- Shares +1.86%.
Oct. 28, 2015, 5:35 PM
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Oct. 5, 2015, 3:14 PM
- The Nasdaq is up 1.5% as equity markets display a renewed appetite for risk, and a large number of tech companies are posting 5%+ gains.
- Major gainers include 3D printer makers 3D Systems (DDD +6.8%), Stratasys (SSYS +7.3%), and ExOne (XONE +10.4%), solar microinverter maker Enphase (ENPH +10.7%) and rival SolarEdge (SEDG +6.1%), car-buying site TrueCar (TRUE +10%), defense IT firm Kratos (KTOS +9.5%), online ad software firm Marin Software (MRIN +8.3%), and CDN owner Limelight (LLNW +8.9%).
- Others: IP licensing firm Acacia (ACTG +7.2%), application delivery controller/security hardware vendor A10 Networks (ATEN +8.3%), travel deal site Travelzoo (TZOO +7.5%), home automation tech provider Control4 (CTRL +8.5%), M2M/telematics hardware and services firm CalAmp (CAMP +6.1%), online video hosting platform Brightcove (BCOV +6%).
- 3D printing stocks, hit hard in 2014 and 2015, are reversing the big losses seen last Tuesday. Travelzoo's gains follow last Thursday's CEO change announcement. CalAmp is now up 24% since beating FQ2 estimates and providing in-line FQ3 guidance on Oct. 1.
- Previously covered: Twitter, Cisco, Rackspace, Micron, SunEdison, Vivint, Juniper, CEVA, Knowles, Yandex/Qiwi
Jul. 31, 2015, 5:10 PM
- In addition to slightly missing Q2 revenue estimates (while posting in-line EPS), Brightcove (NASDAQ:BCOV) has guided for Q3 revenue of $32.9M-$33.4M (below a $33.8M consensus) and full-year revenue of $132.5M-$133.5M (below a $134.7M consensus).
- The online video hosting/monetization service provider blamed its Q2 sales weakness on "the timing of certain customer renewals." It also reported seeing "some softness in our European markets," while adding North America and Japan were healthier.
- Notably, Brightcove's total and premium customer counts respectively fell by 174 and and 17 Q/Q in Q2 to 5,404 and 1,847. The company's recurring dollar retention rate was 88%, below a low-to-mid 90s target range. On the bright side, average revenue per premium customer rose by $1K Q/Q and $4K Y/Y to $64K.
- Shares made a new 52-week low of $4.81 before rebounding a bit to close at $5.47.
- Q2 results, PR
Jul. 30, 2015, 4:12 PM
- Brightcove (NASDAQ:BCOV): Q2 EPS of -$0.04 in-line.
- Revenue of $32.85M (+6.0% Y/Y) misses by $0.39M.
Jul. 29, 2015, 5:35 PM
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Jun. 29, 2015, 3:38 PM
- A long list of tech companies are posting big declines as the Nasdaq drops 2.2% amid a market rout triggered by expectations of a pending Greek default.
- 6%+ decliners include program guide/content protection IP firm Rovi (ROVI -9.5%), ultracapacitor maker Maxwell (MXWL -8.2%), wireless charging tech developer Energous (WATT -9%), cybersecurity hardware/software provider KEYW Holding (KEYW -8.5%), LED sapphire wafer maker Rubicon (RBCN -10.8%), IP licensing firm WiLAN (WILN -7.1%), security software provider Wave Systems (WAVX -11.6%), online video hosting platform Brightcove (BCOV -7%).
- In a repeat of Friday's trading, many Chinese tech names are also off sharply. The group includes mobile app developer Cheetah Mobile (CMCM -9.7%), e-commerce services firm Baozun (BZUN -8%), online travel agency eLong (LONG -15.3%), and online retailer LightInTheBox (LITB -7.8%).
- See also: LinkedIn, Yandex/Qiwi, solar stocks, Xoom, AppliedMicro
May 5, 2015, 3:29 PM
- With the Nasdaq down 1.4%, major tech decliners are easily outnumbering major gainers.
- Notable decliners include carrier/enterprise Wi-Fi hardware vendor Ruckus (RKUS -5.6%), IP licensing firm Acacia (ACTG -4.9%), VoIP/unified communications software vendor BroadSoft (BSFT -8.4%), LED/chip equipment maker Veeco (VECO -4.6%), language software vendor Rosetta Stone (RST -8.5%) mortgage origination software vendor Ellie Mae (ELLI -5.6%), and online video hosting platform Brightcove (BCOV -8.4%).
- Veeco has been hit by a downgrade to Outperform from Buy by CLSA; its Q1 report arrives tomorrow. Ruckus and Brightcove are adding to last week's post-earnings losses (I, II), while Acacia and Ellie Mae are giving back some of their recent post-earnings gains (I, II). BroadSoft soared yesterday after beating Q1 estimates and slightly hiking its 2015 EPS guidance.
- Previously covered: Chinese Internet stocks, cybersecurity stocks, LendingClub, Allot, Kulicke & Soffa, InterCloud, MicroVision
- Notable gainers: Salesforce, RetailMeNot, ChannelAdvisor, A10 Networks, IDT
May 1, 2015, 6:30 PM
- Though Brightcove (NASDAQ:BCOV) beat Q1 estimates, its customer count fell by 192 Q/Q to 5,578. Premium customers rose by 1 to 1,864, with average revenue per premium customer rising by $3K Q/Q and Y/Y to $63K. Premium customer count rose by 16 in Q4.
- CFO Kevin Rhodes on the CC (transcript): "Adding new customers is a priority for the company, but our primary goal is to drive faster revenue growth, which in any given quarter maybe skewed towards new customer addition or up-sells into our installed base."
- Also: While Q2 revenue guidance of $33M-$33.5M is above a $32.8M consensus, full-year guidance of $132.5M-$134.5M is only in-line with a $133.9M consensus. Q2 EPS guidance of -$0.03 to -$0.05 and full-year EPS guidance of -$0.05 to -$0.12 is favorable to consensus estimates of -$0.05 and -$0.11.
- Q1 results, PR
Brightcove Inc. provides cloud services for video which enable customers to publish and distribute video to Internet-connected devices. It offers a family of products that revolutionize the way organizations deliver video experiences. The company also provides online video platform for... More
Industry: Application Software
Country: United States
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