BCOV - Brightcove Non-GAAP EPS of -$0.15 misses by $0.09 revenue of $49.1M misses by $0.21M

2023-05-03 16:25:15 ET

• Brightcove press release ( NASDAQ: BCOV ): Q1 Non-GAAP EPS of -$0.15 misses by $0.09 .
• Revenue of $49.1M (-8.1% Y/Y) misses by $0.21M .
• Second Quarter 2023 Guidance:
• Revenue is expected to be in the range of $50.0 million to $51.0 million vs $52.55M consensus, including approximately $2.1 million of professional services revenue and $1.0 million of overages.
• Non-GAAP loss from operations is expected to be in the range of ($1.3) million to ($0.3) million, which excludes stock-based compensation of approximately $3.4 million, the amortization of acquired intangible assets of approximately $1.0 million, and restructuring expense of approximately $2.0 million.
• Adjusted EBITDA is expected to be in the range of $1.8 million to $2.8 million, which excludes stock-based compensation of approximately $3.4 million, the amortization of acquired intangible assets of approximately $1.0 million, restructuring expense of approximately $2.0 million, depreciation expense of approximately $3.0 million, and other (income) expense and the provision for income taxes of approximately $0.3 million.
• Non-GAAP net loss per diluted share is expected to be ($0.04) to ($0.01) vs $0.02 consensus, which excludes stock-based compensation of approximately $3.4 million, the amortization of acquired intangible assets of approximately $1.0 million, restructuring expense of approximately $2.0 million, and assumes approximately 43.1 million weighted-average shares outstanding.
• Full Year 2023 Guidance:
• Revenue is expected to be in the range of $204.0 million to $209.0 million vs $212.47M consensus, including approximately $8.8 million of professional services revenue and $4.4 million of overages.
• Non-GAAP income from operations is expected to be in the range of $3.0 million to $6.0 million, which excludes stock-based compensation of approximately $13.9 million, the amortization of acquired intangible assets of approximately $4.1 million, merger-related expense of approximately $0.1 million, and restructuring expense of $2.4 million.
• Adjusted EBITDA is expected to be in the range of $16.0 million to $19.0 million, which excludes stock-based compensation of approximately $13.9 million, the amortization of acquired intangible assets of approximately $4.1 million, merger-related expense of approximately $0.1 million, restructuring expense of $2.4 million, depreciation expense of approximately $13.2 million, and other (income) expense and the provision for income taxes of approximately $1.8 million.
• Non-GAAP earnings per diluted share is expected to be $0.03 to $0.10 vs $0.06 consensus, which excludes stock-based compensation of approximately $13.9 million, the amortization of acquired intangible assets of approximately $4.1 million, merger-related expense of approximately $0.1 million, restructuring expense of $2.4 million, and assumes approximately 43.4 million weighted-average shares outstanding.

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