)
Brightcove (BCOV) investor relations material
Brightcove Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2024 revenue was $49.95 million, down 2% year-over-year but exceeded guidance, with adjusted EBITDA of $5.1 million (10% margin) and a GAAP net loss of $3.0 million or $(0.07) per share.
Free cash flow was $1.6 million, and cash and equivalents rose to $27.0 million with no debt.
Record ARPU reached $101,400, up 6% year-over-year; subscription backlog hit $183.2 million, up 5% year-over-year.
Full-year revenue and adjusted EBITDA guidance raised, reflecting strong year-to-date performance and innovation focus, notably with the AI Suite launch.
Major new and expanded deals signed with enterprise and media clients; new business contract values surged 50% year-over-year and 90% quarter-over-quarter.
Financial highlights
Q3 2024 revenue was $49.95 million, down 2% year-over-year; subscription revenue was $48.0 million, down 1%; professional services revenue was $2.0 million, down 18% year-over-year.
Gross profit was $31.6 million (GAAP), gross margin 63%, up from 62% a year ago; non-GAAP gross margin was 65%.
Adjusted EBITDA was $5.1 million (10% margin); non-GAAP operating income was $860,000.
GAAP net loss was $3.0 million, or $(0.07) per share; non-GAAP diluted net income per share was $0.02.
Cash and equivalents increased to $27.0 million as of September 30, 2024, up from $18.6 million at year-end 2023.
Outlook and guidance
Q4 2024 revenue expected between $48.0 million and $49.0 million; adjusted EBITDA between $3.0 million and $4.0 million.
Full-year 2024 revenue guidance raised to $197.7 million–$198.7 million; adjusted EBITDA to $16.8 million–$17.8 million.
Free cash flow for the year expected between $5.6 million–$8.0 million; year-end cash projected at $30 million+.
Full-year non-GAAP net income per share expected between $(0.02) and $0.00.
Management expects sales and marketing expenses to decrease and general and administrative expenses to increase modestly for the remainder of 2024.
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)