Brightcove Inc. (Nasdaq: BCOV), a leading global provider of cloud-based solutions for publishing and distributing professional digital media, today announced financial results for the third quarter ended September 30, 2012.
“We are pleased with our strong third quarter results, which once again exceeded our revenue and profitability guidance,” said Jeremy Allaire, Chairman and Chief Executive Officer of Brightcove. “After pioneering the online video platform market, Brightcove has continued to push the pace of innovation with our expanding suite of cloud-based solutions, including Video Cloud, App Cloud and Zencoder. We believe that we are in the very early stages of a fundamental shift in how digital content is being delivered and consumed. We view this as a significant market opportunity, and Brightcove is focused on leveraging our first mover advantage into continued, long-term market leadership.”
Third Quarter 2012 Financial Highlights:
Revenue: Total revenue for the third quarter of 2012 was $22.1 million, an increase of 32% compared to $16.7 million for the third quarter of 2011. Subscription and support revenue was $21.5 million, an increase of 35% compared with $15.9 million for the third quarter of 2011. Professional services and other revenue was $0.6 million, a decrease compared to $0.8 million for the third quarter of 2011.Gross Profit: Gross profit for the third quarter of 2012 was $15.1 million, compared to $11.4 million for the third quarter of 2011. Non-GAAP gross profit for the third quarter of 2012 was $15.3 million, representing a year-over-year increase of 34% and a non-GAAP gross margin of 69%. Operating Loss: Loss from operations was $3.7 million for the third quarter of 2012, compared to a loss of $3.3 million for the third quarter of 2011. Non-GAAP loss from operations, which excludes stock-based compensation expense, the amortization of acquired intangibles and merger-related expenses, was $1.3 million for the third quarter of 2012, an improvement compared to a non-GAAP loss from operations of $2.2 million during the third quarter of 2011. Net Loss: Net loss attributable to common stockholders was $0.6 million, or $0.02 per basic and diluted share, for the third quarter of 2012. This compares to a net loss attributable to common stockholders of $5.4 million, or $1.09 per basic and diluted share, for the third quarter of 2011. Non-GAAP net loss attributable to common stockholders, which excludes stock-based compensation expense, the amortization of acquired intangibles, merger-related expenses, merger-related income tax adjustments and the accretion of dividends on redeemable convertible preferred stock, was $1.5 million for the third quarter of 2012, or $0.05 per basic and diluted share, compared to a non-GAAP net loss attributable to common stockholders of $2.9 million for the third quarter of 2011, or $0.59 per basic and diluted share.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV