BCOV - Brightcove reports Q4 earnings miss; initiates Q1 and FY23 outlook
- Brightcove press release ( NASDAQ: BCOV ): Q4 Non-GAAP EPS of -$0.02 misses by $0.01 .
- Revenue of $49.2M (-6.5% Y/Y) misses by $0.56M .
- Adjusted EBITDA was $1.2 million for the fourth quarter of 2022, compared to adjusted EBITDA of $5.9 million for the fourth quarter of 2021.
- Non-GAAP gross profit for the fourth quarter of 2022 was $30.7 million, representing a non-GAAP gross margin of 62%, compared to a non-GAAP gross profit of $35.3 million, representing a non-GAAP gross margin of 67% for the fourth quarter of 2021.
- First Quarter 2023: Revenue is expected to be in the range of $49.0 million to $50.0 million vs. consensus $49.81M, including approximately $2.2 million of professional services revenue and $1.5 million of overages.
- Non-GAAP loss from operations is expected to be in the range of ($3.0) million to ($2.0) million, which excludes stock-based compensation of approximately $3.3 million and the amortization of acquired intangible assets of approximately $1.0 million.
- Adjusted EBITDA is expected to be in the range of breakeven to $1.0 million.
- Non-GAAP net loss per diluted share is expected to be ($0.08) to ($0.05) vs. consensus $0.02.
- Full Year 2023: Revenue is expected to be in the range of $211.0 million to $215.0 million vs. consensus $210.03M, including approximately $9.5 million of professional services revenue and $6.0 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 $13.7 million, the amortization of acquired intangible assets of approximately $3.9 million.
- Adjusted EBITDA is expected to be in the range of $16.0 million to $19.0 million.
- Non-GAAP earnings per diluted share is expected to be $0.04 to $0.11 vs. consensus $0.19.
For further details see:
Brightcove reports Q4 earnings miss; initiates Q1 and FY23 outlook