Exhibit 99.1

Brightcove Announces Financial Results for Fourth Quarter and Fiscal Year 2018

BOSTON, MA (February 13, 2019)

Brightcove Inc. (Nasdaq: BCOV), the leading provider of cloud services for video, today announced financial results for the fourth quarter and fiscal year ended December 31, 2018.

“In the fourth quarter Brightcove continued to execute on the strategic priorities it has targeted to generate stronger, more consistent revenue growth and profitability. The Company has accomplished much in 2018 and is in a far stronger position to achieve its long-term objectives than when we entered the year,” said Jeff Ray, Brightcove’s chief executive officer.

Ray added, “Brightcove enters 2019 with a clear market focus, a robust product development pipeline and a new go-to-market strategy focused on driving faster sales velocity. Our clear leadership in a dynamic, fast-growing, multi-billion dollar marketplace provides ample opportunity for the company to be successful.”

Fourth Quarter 2018 Financial Highlights:

 

   

Revenue for the fourth quarter of 2018 was $40.9 million, an increase of 2% compared to $40.1 million for the fourth quarter of 2017. Subscription and support revenue was $37.8 million, an increase of 2% compared to $36.9 million for the fourth quarter of 2017.

 

   

Gross profit for the fourth quarter of 2018 was $24.4 million, representing a gross margin of 60% compared to a gross profit of $23.8 million for the fourth quarter of 2017. Non-GAAP gross profit for the fourth quarter of 2018 was $24.8 million, representing a non-GAAP gross margin of 61%, compared to a non-GAAP gross profit of $24.5 million for the fourth quarter of 2017. Non-GAAP gross profit and non-GAAP gross margin exclude stock-based compensation expense and the amortization of acquired intangible assets.

 

   

Loss from operations was $2.5 million for the fourth quarter of 2018, compared to a loss from operations of $1.3 million for the fourth quarter of 2017. Non-GAAP operating income, which excludes stock-based compensation expense, the amortization of acquired intangible assets and merger-related expense, was $237,000 for the fourth quarter of 2018, compared to non-GAAP operating income of $1.3 million during the fourth quarter of 2017.

 

   

Net loss was $2.6 million, or $0.07 per diluted share, for the fourth quarter of 2018. This compares to a net loss of $1.4 million, or $0.04 per diluted share, for the fourth quarter of 2017. Non-GAAP net income, which excludes stock-based compensation expense, the amortization of acquired intangible assets and merger-related expense, was $147,000 for the fourth quarter of 2018, or $0.00 per diluted share, compared to non-GAAP net income of $1.3 million for the fourth quarter of 2017, or $0.04 per diluted share.

 

   

Adjusted EBITDA was $1.4 million for the fourth quarter of 2018, compared to adjusted EBITDA of $2.3 million for the fourth quarter of 2017. Adjusted EBITDA excludes stock-based compensation expense, merger-related expense, the amortization of acquired intangible assets, depreciation expense, other income/expense and the provision for income taxes.


The following information was filed by Brightcove Inc (BCOV) on Wednesday, February 13, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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