Brightcove. CFO. today Rob Thank you all for joining. of with Noreck, is And I’m our CEO Marc me DeBevoise,
are of be to quarter share provide an discuss our progress future on to the our for results, earnings and pleased We strategic our update view our second streaming Brightcove.
quick financial high was end revenue exceeding guidance overview $XX million, the for at I’ll Total begin and adjusted million range, of QX board. QX, guidance with results the the which SVB-impacted cash history, first quarter. free from of strong range. of was $X.X the expectedly flow strong, million, our $X.X a was was across which were EBITDA for the end flow generation high catch-up the second collections on our of quarter company our highest Free cash in driven by
key a of progress our on and quarter success So made encouraging Positively, a of likelihood mixed. solid areas. about From our little we many a quarter. an operational from perspective, was conviction initiatives perspective, higher the we in financial opportunity a have had very of degree and several more
that the materialize. the in business in described but parts to changes pressure or longer made and necessary call, to be to taking difficult are of near-term QX, there organization the some continue under last we we are some as Conversely,
balance actions focus and improve to with an pursuing continue urgency to up performance We will management. ongoing with cost speed on
optimistic still the success EBITDA remain flow and targets. achieving XXXX we positive We double-digit long-term way together, with our strategy. with our of long-term on along to exiting cash Taken free margins about our and mid-single-digit revenue adjusted growth anticipate
I’ll Let areas some through drive and of our up-market and now wins greatest side strategically the seeing in the specifically quarter, what focus us me seeing on the key the our success focus seeing customer market things highlight walk pillar customer we and review traction, we’re innovation of strategic overall. optimism, our from super winning the start also that product business and are the and accounts. serving on describe with strategic some large
Opera highlight Metropolitan depth demonstrates of But indicative This upmarket. Networks. and to great customer I’d customers the in renewing Network Premier quarter, we Black add-ons and the strategic renewals, very and Alto move two the wins, The like had our In like customers. League examples add-on solutions customers Macy’s like Canadian of some and really new TV, Palo and buyers YES and the including like interesting breadth
our together a ROI customer reliable ability technology. and to and this Yahoo media an talked scalable, ever we is highly on them largest digital for they a cost Brightcove I’m operations. in-house streaming tell deliver Last meaningful and with is able infrastructure a us Brightcove company, of X its to quarter, to delivered that replacing video performance, Xx in solution to for came we has we savings, business record you of Yahoo. about proven track meaningful performant reasons, also now chose that win effectively to told while dollars. and supporting efficiencies numerous millions case our Yahoo and are over including their where This capabilities new that excited scale streaming need investment our saving power and stating solve to be Yahoo’s our major technology
video our faster their For were projected it road than plus do map portfolio solutions that support in-house. they even it of market-proven and can and doing current products
and into For our our developer-friendly integration advertising revenue boost into experiences; easy stack capabilities, yield and CTV quickly app and tech ability integrations mobile tools to ad an web capabilities web, and documentation seamlessly and team and finally, increase and their advanced delivering performance. sync their
the big provide them of thrilled savings example are experience a with working solutions. Brightcove win can with be we media big We users deliver, for best This world-class possible. and to to perfect what Yahoo, their is believe
League we also its with exciting agreement for VOD streaming multiyear This to signed the quarter, teams. Hockey an power and the National league
provide because we entities new We the gives sports on to ability quickly in are while scale the models flexible sports having to engagement a platform that winning to size. ability any iterate
United success include Major Soccer ACCC to other in Sky addition Paralympic the the like our stories live Coupa. programming sports-related League, States sports of delivering and Olympic for the Some streamers and League major the and USGA, broader Committee, Soccer, Canadian
NHL Yahoo one-offs, our addition, or deals In large they might are like while not. feel the with
Over support And time with streaming technology in large these often all ability further part dozens said, and We of future cycles of success transactions pipeline Naturally, media opportunity. deal longer the opportunities provide considering large Yahoo, mid-X to of by our with serving any a and past with amazing our $XXX,XXX it strategic the outsourcing as the reputation year, we of low will takes number important going. for growth to large or its they deals exceeding flywheel the ARR are have NHL believe That stack. less sales and as the and get built benefit figures a meaningful predictable. in company meaningful of our an to us validations pipeline pipeline ARR well.
upmarket will half demonstrate of our now in year pay pipeline Our well. as to indicator just focus will We the deals closed deal and media this as enterprise in second greater numerous with we this either growth larger upmarket key large this opportunities. pipeline isn’t a view off, deals developing that expect
use partner The and one that new in accelerate help ecosystem, that our been we too. focus more building one customers can more primary customer and solutions a effort to our can diversified growth, end-to-end other deliver for has go-to-market larger
We expand good have announcements most with that our had capabilities, recent here, add-on two including often success recent opportunities.
The first is a world’s the leading partnership new platform. with accessibility media XPlay,
in are user add-on video based working having good early We in address partnership wins seen signed caption value. a and this good together preferences. number digital accessibility real-time generation to much-needed of with momentum meaningful on already of language We’ve
programmatic will deals strategic monetization our significantly leading platform. frequency video platform. a QX a solutions with boost service, The helps monetize advertising their technology combine supply our video will ad and with boost our media monetization our ad PubMatic, their other capabilities demand the partnerships companies to digital fast with chain enhance Magnite This is struck power meaningful company agreement that come which across of top content capabilities. and to on better ad and we our These for SpringServe
of right delivering remain those that opportunity part with will is additional also price partners meaningful partner. the through focused and partnerships We business our at accelerate market lower on this the a the believe particularly
our to be customers’ to our innovation. more end-to-end Our and other push provider own by pillars strategic accelerate driven are businesses product predominantly to as well generally
and here going growth up forward. for enterprise the having are are to teed definitely us improving strides strategic we’re conversations with Our drive customers media and
decisions for based For Ad analytics tolerance integrated viewer informed service. portray accurately customers now solution, powered – able upholding to ads. ad that all machining maximize first-party insights Brightcove experience. on advanced launched revenue our while be Insights data proprietary make example, By provides we models to and and and Customers viewer machine frequency across advanced our Insight engaging duration by Brightcove detailed new will leveraging with introduced an strengthening experiences ad this learning recently quarter, leveraging Ad learning monetization metrics,
have our help product like Together integrations, solutions forward. Ad and with pleased innovation of meaningfully pace Monetization, velocity and with e-commerce I and depth will and QoE faster going and this improve recent expanded retention year our believe grow product and breadth our product Studio, introductions it advanced am of us portfolio. the we Communication
for product In in IDC the us of approach in belief here, and strength buttressed matters their our are the industry third-party we based end-to-end media QX, in our services that and our solutions expenses native and are, category report for solutions placed our entertainment are leading. customers. While delivering on market cloud in MarketScape experts operating that lower validation our excellence products, leader by in truly helping fact,
to to thrive second consecutive broadened proud be is differentiators XXXX services, our combined from Globe the and for reinforce we on takeaway our as also markets Brightcove’s with significant ability based are and priorities are The key our scale Aragon these progress reliability year large We solutions have strategic for the which the in strong solutions evaluations our that and leader Video in Enterprise they when expert Research that serve. for in recognized enterprises. in a
performance, and on QX Focusing there positives highlight. back negatives are to
Our the deal primary by average our of further has In being performance business learnings Asia up potential there now still success America shows success, in year-over-year, in straight new the business our feel strength, increase been and Europe, and new growth initiatives we Xx driven applying first X to sales source are North by in a Yahoo deal. QX customers. size. having of XXX% the recent new year-over-year, quarters, go-to-market here in is with bookings Pacific our This Japan. business XX% especially grew X new many half, durable, excluding is
meaningful As bookings new a begin a more mix, performance. of become it larger impact to success we portion business our on our on overall will build business and initial have our
great size long-term pace the product are wins growing clear business the our innovation progress and our strategy us of areas are essential our these for new accelerated positives. gives and in upmarket, success Our future. These the of confidence to
our of customer the America in with some improvement especially driving near by require revenue. sales activity, weakness And taking entitlements. territory to on However, meaningful our second, the are two initiatives begin of and dynamics: is term, in especially longer base adjustments order our continued media this largest first, some offset or newer in being add-on in North
the second business a in add-on last customers market business a strong discussed offsetting forecast spending. and and increase during the more bookings COVID, and to sizable and in this the by an has updated of increases of is flat similar This historically our part we fewer in to purchased many new the remainder our Since anticipated majority XXXX. dynamics are growth. entitlement dynamic increased usage last slowing lower our the we rate for As overages quarter, growth led pronounced in streaming the than add-on capacity bookings anticipates down to quarter was quarter, the of decline renewals quarter, in of
our to through to services work up-sell as keep to renewal this cycle, customer products We that additional we our and base. and continue believe be we we weakness market temporary will bringing can
We strategically is generate initiatives offering. other growth super over our taking the The pipeline than large a some large Communication customers, launching Day of number last FAST initially longer we out strategic Studio of talked are as have well, expected. on. Communication coming and and newer of FAST we impact of dynamic millions about will our quite the pipeline Investor impacting and from the initiatives of the were introduction Several in expect the including Studio laid both working year, quarters. our additional expected and serving revenue the developed them working well, already we At deal
initiatives X current states other the of Several though. into other falling are
shaping in and third, necessarily discussion has The reshaping are out conversations where the but customers approach, is initiatives. deep dialogue portfolio like first, driving standard of enough a up immediate new the that either pipeline; we’re money development necessarily and areas the now these areas that with us This on into not seeing second, and focus pipeline; but that not we’re delivered sooner. us make initiative pausing or play always to that deals can
and on others back Given real we see down where doubling dynamic, opportunity. pulling are immediate this we some, revamping
of has and a the media is grow $XXX to we In past we markets over portion than the that broadcast closing, to to make media billion a expected larger now. form market are our the long our of of and term. the why to cable plays want dominant some The and become track continues Streaming consumption in transition, decade, by on XXXX. point be is It strengths. I about believe and definitely right market
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enterprises, of intent they pointed work driving be delivering as and the work, that for for durable now is models. in marketing like believe The how conversion, manage solutions. For I it employees is right direction becoming an whether with in indispensable line communications the the or hybrid part purchase right for and video goals companies are anywhere we bottom
and both and grow demonstrate we this across many believe recognize EBITDA will Our of media cash do parts gives confidence. we we new to and important this by significant business business solutions. well. in QX, It’s making can We free people, enterprise business and it with changes positive are growing strength processes that flow in as and me
each date change doesn’t that impacting the will the when cases, our profitable to in In generate plan to initially confidence of more more our customers attractive long-term for our will. for streaming the forecasting positively has but We progress drive the business it, an further growth and been acknowledge gives and confidence the incredibly to it made opportunity challenging. for than detailed of market some shareholders. required solutions that aspect has our But strategy timing begin our potential. Brightcove, us change expected, it presents The improvement and
dive the a numbers, With and in on Q&A. that, over back Rob the deeper I’ll turn call for to for I’m going to Rob? be QX
