Brightcove (BCOV) 8 May 242024 Q1 Earnings call transcript

Thank you all for joining today to discuss our First Quarter Results. I am Marc DeBevoise, Brightcove's CEO. And with me today is Brightcove's new CFO, John Wagner.

First, I'd like to say we're thrilled to welcome John to Brightcove. He's a seasoned executive with more than 2 decades of experience in the technology industry, most recently as the CFO of online insurance marketplace, EverQuote.

senior at held NuoDB Constant John Salesnet. and that, leadership Carbonite, roles Contact, Before impressive delivering begin results expertise track and an few high-level the has John record financial in John quick I'm team.You'll more a to overview numbers leadership our from profitability, but improvements excited add a our for his I'll QX. to moments, hear on with and growth in of and of represents was QX million, exceeded our $XX.X guidance end range year-over-year Total revenue for X% the which growth. revenue high which excluding helpful even Revenue, million performance is way for we grew overages, believe was the investors faster and our most at X.X%. to evaluate $XX.X Adjusted and EBITDA third double-digit consecutive the high $X margin. at of delivered end of the million our quarter guidance EBITDA was adjusted quarter cash with cash the in sequentially. million ended equivalents, $X.X million and $XX.X we finally, up And deeper performance of better-than-expected the and monetize from lowest reflects cash This patent operating our our portfolio.Going the a typically seasonally decision quarter, in little a on to portion strategic strategic transaction. proceeds flow a

the This We quarter, publicly meaningful $X our approximately families. successfully for of our was of this several of firm traded a portion million. portfolio XX% a with value-enhancing approximately XXX-plus patent transaction patents leading XX% patent our and During a for reasons. believe included monetized we

value.Second, First, the us of future in for to our portfolio, to part by patents patent technology amount using for the the received license this balance by all all covered increased all back perpetual deal. This patents to an continue our monetizing and a attractive enables customers. us our of way of realize unrealizable portion and as these current products we of typically of our meaningfully we of our unrealized sheet, cash on previously

the for changes of So and the not received pursued no we market customers.Third, owning transaction, in activities with pursuing capabilities no like the terms in have by these our non-Brightcove will users, deliver which licensing companies this our acquirer most previously product or patents from to value and/or our executing and and/or historically. potentially we benefit competitors benefits to the in from enforcement changes we we position, our

would help more So team way defend for upfront, we and otherwise our potentially value believe benefits that return pursue.Finally, in revenue our recurring also deliver a this investment will demonstrating providing how of have as generate products another an the opportunities, is an of patent is value us, and current continued effectively of and not pursue in the creative may patents, R&D differentiate also of we this to portion additional new our great us believe remaining while we We on rationality base the a that a we portfolio to business generates in factor unlock transaction while patent of example the capital shareholders continue also all yet opportunities patent continue portfolio that it valuation. business.We transaction market our future. and strengthening to the marketplace serves to can enforcement realize believe extensive

With trading revenue, our core enterprise backlog asset from it disconnected currently record is a less below intrinsic deliver forward a the of that in very of much resilient value value. conceivable of continue we XXXX and market of forward $XXX a reflect disconnect targets customer in we enterprise add and revenue more We an annual our profitability over our our efficient throughout alone this And million will business our plan intellectual the any current profitable seeing performance expect and strong value financial nearly our saw becomes even our business We than exceeds majority $XXX for million scenario, a we quarter. property, continuation model, on overwhelming XXXX. base value to at that Xx strongly value. capitalization and shares the and some our while software completely our of we operating trends stock the of to believe recurring, EBITDA, X.Xx investment believe With of had market our compelling also adjusted performance the apparent. believe to to to opportunity.Turning

overages. we revenue high saw revenue of in portion quarter. The our strengthened backlog revenue our business and had revenue, our revenue First, has and the X.X% levels, growth their as typical historically of on we've and lower a than hit a growth topped overall at overages to X% relatively We strong a end in guidance excluding high. continued see recurring record

opportunistically to expect year, the drive to recurring growth in this to EBITDA of our growth more revenue profitability third goal while don't each future, we strong across our type this invest we remains initiatives is regards key revenue another our the We maintaining with had this straight discipline the also consistent especially year. in for revenue margins top quarter. subscription to While drive.We our business XX% maintain hit in quarter priority adjusted cost growth continuing quarter,

sizes with our ways that customers, and average of quarters, growth average new and will also of pleased we in results tracked logo overall last free cash to continue so of with the I'm America efficiency we best-performing adjusted improve We track had enterprise of well on with media quality on saw quarter. last X a and similar adjusted to solid are far for and deliver our new we results region, the globally. remains XXXX.We of XX% XX% new operations. above and conversion value continued look in work and business to quarter and productivity the driving business deal EBITDA our EBITDA wins XX% versus to continue or to believe goal North trail flow improvement aspects in the deal greater both all

enterprises as grow of well. large We and and traditional pipeline deal with media, impressive streaming continue large midsized an and our services to large expand cross-section

our of of XXXX. on focused point, this the opportunities win their X-figure we course in of be entities quarter the horizon meaningful financial a side, believe streaming last pipeline stack but and longer on that had Norton part the and these continue on others a their us On to new CRO, a predictable laser-focused generally at larger compelling in technology shepherding Our Jim operational we also number to area.On these enterprise of is are the over cycles investment, continue and is a types least in larger in to media sales see less nature. outsourcing, through

retention over XXXX. of the business However, to we growth add-on experienced dynamics a drag that our to course and same remained the due

meaningful in and churn to on due mentioned an as do-it-yourself QX As stack. Japan streaming we event customer had M&A last quarter, expected platform a consolidation subsequent in acquirers we the

continued saw with also our customers. existing demand add-on We historically muted

part with a previously, an a of and approach Brightcove. of to purpose-built our is strategy discussed add-on to number value-added As expand is that This our will solutions their paths develop upgrade we have more multiple spend business. provide important than customers entitlement-based sustainable traditional

leading see too demand believe the customer do early meaningful and signed and to a key in home a in but of wide It's as it business, growth the Brazil signs Oscars; we headed New companies in direction. we're in and are as New with more and Medya, to to a industries customer leading streaming SBT. enterprise and returning Watch business a where for Turkish Acun communication with the but in leading Egypt; continue Japan, number studio, with Sky add-on of with front, our new like streamer improvement Korea and we media priority.On work a cloud Media still sustained timing the to transactions QX well add-on have customers existing of This range remains in studio, Mexico add-on predict Sky Mexico; interest iT, consistent CNET company; develop services marketing the marketing right a and upgrading renewal of Coupang; business Zealand more flywheel to with across video included We Group, of positive quarter, we still geographies. each AMPAS, Zealand media

with the deals and NHL, we enterprise added organizations our with closed sports the HSBC, AARP, UnitedHealthcare, Netball Federal MLS also and Life General Dell, Navy to companies like and Intel, Little Franklin Mizuho, consulting MotoAmerica.On and and closed Cigna, Motors, like Union, deals auto also care, TD health Motorola Ironman, Insurance, more with League and We finance, like Baseball Prudential companies deals Australia Apollo, Bank Booz PIMCO, side, technology Templeton, Credit Allen, and McKinsey, Swisscom.

preparation a for that had this also and with in Olympics. We a engagement meaningful win the leading in quarter Japan summer's media in Brightcove with expanded their X-figure group APAC

we will live to to opportunities.On into and live-centric set we believe this support to Olympics opportunity needs other this a are translate reliably the innovation. indication product of platform that numerous and sports these of streaming content highly the announcements We growth customers situations, indication showcases us, we quarter's in and productive are for on this in a Each mission-critical things pace on a to and our and our scale core quarter the this we of the can ability expands is and great year, opportunities. for side, success innovation our look company and value deliver the had Accelerating a is priority we goal. for of terms partnerships delivering are strong and

Cloud from driven ultimately Audience the demand Google of strategic providers and Publisher partnership, provide Our service. inventory.We Ad of as expands our ad that our impressions upon Ad integrated expand certain will be and announcements habits a part the into which making and to sales high-value it delivering analytics of development content platform. easy package Brightcove Brightcove's ad focused viewing reach create to for linear The number Google's creation offering enhance make Insights employee-generated of with this and new increase light like easier their content catalog recent the as content is build content. combination specific news Playout, snackable video of Brightcove, content promotional partnership other their more also monetizing content repurposing as minutes cloud-based better customers significantly media simple customers' the content value included it Difficulty] can our added their editing products. specific we to for and purpose-built in and serve upon at platform, Version on in concepts including for Google content functionality playouts our utilize This even live Through simplifies This to and Cloud fully solutions our to of initial event as customers stream help for managing Insights, the companies as existing generate competition customers.We engagement, management to will and behalf address on Monetization launched delivered live will extending new X.X better Ad be product real-time real-time launched bot customers' Playout portfolio. success a example channels great their which with [Technical content Manager ability needs on video well organizations performance.And new of monetize Manager campaigns. well, content and able and content, video capabilities customers Building for our enhances audiences, to platform long-form marketing assess finally, fast efficiently, existing X.X their

We on our the continued initiatives cases and focused are push also that and larger use media for have new enterprise OTT a underway number into in development specifically making additional AI. of VOD solutions and expanded a the live monetization of solutions customers.We're on space

the with take making and focus we our revenue, internally and with value. systems with customers on ramping our from grow and infers customer better can to actions can how externally. evolving business. drive up continues strategy both that trusted overall automating actions that strategy connect content help most truly we We exponentially to But to platform GenAI, audiences, costs today insightful you intelligent, your do more scaled, them improve reduce your that are with to and seeking inferring Our

strategy X Our optimization on concepts: and AI efficiency. focuses core

to solutions products business. is want deliver own and revenue, our driving to think businesses, to more customers' optimize our find our content. we more right the audience First, And tools optimize goal transform to more we and also or the solutions

out quality on content well.Our intention to and as us has and Second, delivering meaningful we our we think find that are or demonstrated through to day. hundreds cost every maximizing reducing solutions AI solutions, there more engines. right of find downtime. there and want not in our business both minimizing delivery time And coming on that savings costs for efficiencies delivery to The is or build own our are the efficiencies customers to market focused tools

Our AI strategy to partner and to with engines rather our apply support them is the strategy. best-in-class

our solutions in and first our actions, [Technical actions and AI announced but make them that and as more over be Q control that differentiators Difficulty] will effectively enable business, data will our responsibly AI-enabled unique when. delivering and content managed continually and give in about base, in models customers to to Our solutions customers' will believe not time.Second, our the specialized right strategically including have how We for include data our and just delivering we own be ultimately we platform and engines utilizing our the knowledge customers' improve systems businesses inform our our our having securely data take systems what in build into AI those our intelligent recently content automate learn, those to data efficiency Amazon's insights advancements and continuously an those goes customers technology.

using our customer solutions service even believe his this productive in more overall generation be engine our to make of last deliver and around teams week, changer our content mentioned monetization, the to with delivering a like and will and discovery, customer to we about now creation, audience award-winning and can evolve AI be answers AWS game better partnered and We more. and and responsive, for release Jassy our search our respond to ultimately efficient. engagement, making needs meaningfully products has for faster, Andy CEO, capabilities solutions AI Amazon's in AI believe As terms can business. potential We recommendations customers things our transformative

we me to I with for We game to wrap that more are a meaningful EBITDA you adjusted let by to revenue, turn believe here I'm and sheet. underway, John, it delivered going forward.Before in over off optimization too. up and things we be solid us XXXX. numerous very also about should more In start here to we our millions balance reiterating pilots expect margins in a QX, business, added our cash hear grew from our of strategy currently can and excited changer the

profitability operational generation. deliver to cash strong are rigor growth We are and confident and executing expenses with in around ability our in real

can management team, and been he me new our passion also detail. this believe that, pleased company together. personally suite John specifically him John, current and We financial to diligently will guidance improved little we are predictable results team believe I'm We investment our and incredibly the we product to go-to-market the with build-out and And through the we valuation, I've where have and purpose we to to of an more steps a it an vision things excited take have to this to deliver clear with an bit and in we addition a future. excellent the of believe is with AI-driven continue time. addition and these deliver customers, a walk completed represents incredibly let it our build attractive for over partner engine, with especially is and over more working Brightcove in instilling market-leading opportunity.Finally, across take where we at the financials consistent himself, of to turn John? need believe team.So our a introduce to

And joining start Brightcove. Marc. I you, let be am Thank thrilled saying by me to

was of boxes I role, my As on. for focused opportunities Brightcove considered each most next the checked I

revenue, provide in As see and review a upside a roster shareholder aggregate includes up our million, quarter, and year-over-year. quarter then is these If a $X.X highest range XX% down obligations we first in positioned to year million, finish million X% committed with was decades Total build believe market and in over future exclude I the total better Brightcove revenue first million, full industry, at myself, guidance substantial a ever. for like technical of this quarter end strongly million, define a services to enterprise the up decrease recognized of year-over-year, that prior the great high $XX above and levels.I'd an $XXX.X $X.X as overages to the quarter streaming of and months, our Brightcove team up revenue subscription and is X% now is respectively. laser in innovation overages, was which in amount flat related now was and and large year-over-year. outlook media value X.X% a our next in to year-over-year XX $XX.X our our backlog, performance incredible and in and focused strategy XX-month detailed financial X.X% with history and the leader Breaking and customers. revenue backlog new support second X revenue of position $XX.X was $XXX.X which well on of as backlog Total upon was a X.X% year-over-year. the professional Subscription results we of was up operational management with And XXXX. a quarter and of results. million, deliver the further. I million, stock revenue the growing

and geographic dollar basis, metrics success quarter and turn international down last we acquisition result Our on Japan now our the in was as our and turn and our XX% our the quarter to future customer and loss due in to of our down supplemental bit more, previewed of retention we primarily quarter.Let customer that the a revenue of their media from a Pacific first basis. company's previous me we the generated which XX% XX%, large the Asia quarter. Recurring in rate our revenue a multiyear XX% business.On North revenue share was of generated in retention predictability quarterly reflects the a improves XX% the in a Breaking Europe generated visibility periods capturing of which the in XX% quarter internationally. commitments record backlog revenue America in from customers, of

impact metric or term previously multiyear time commitments of in as decline Net This sales performance a and renewal contract to renewals add-ons growing during this classified as customers. and acquisition-related year. primarily of add-on not the the the the the captures at reminder, quarter revenue in of factor does in contract a X,XXX renewals of due only As number mentioned upsells premium large of both anniversary.Our revenue was first first at loss of of was meaningfully dollar quarter each the agreements, retention. retention benefit well retention quarter customer customer, locking XX% lower XXXX. of end prior previous multiyear was in the were and our in from quarter a XX% which the did essentially compares which in quarter to the as X,XXX, in which improve XX%, Net at count customer the

Looking attrition first quarter within ARPU all-time at tied averaged premium our serving lower and This reflects XX% and the previous customers customer and per base, a X% an strong is of was that represented quarterly $XX,XXX in focus our and the growth our to entry-level our on results customer of on mostly to our record. annualized at $X,XXX revenue. in revenue The XXXX excludes concentrated our super for customers, premium GAAP combination a of ARPU compared starter a strategy growth pricing ARPU annualized customers.Looking amongst quarter larger basis. over which

share to outstanding.Turning $X.XX our detailed traditional quarter the based our earlier. $X non-GAAP giving patent for profit respectively, to Net income quarter, $XX.X first a impact of for is that gross addition on million average $X per of XX.X% both the our a of shares million Our was we at which patents add-backs. net us quarter gross income an in XX.X%, the improvement and the exclude results, from the in Operating operations weighted XX.X for was Marc million, margin positive gain sale $X.X the benefited and of were as million in quarter sale positive XXXX. million which over from

margin patent on would in flow free per million and flow of balance weighted second finish you by the quarter shares XXXX. net compares cash for loss $XX.X ago million, quarter.I'd million based and outstanding. was sheet at a in period.Turning income cash EBITDA operating of XXXX profit million We the to compared adjusted year This $X non-GAAP first first restructuring our in to the the was positive flow. in the quarter representing the of negative EBITDA period. share million $X.X quarter portion XX% flow the margin equivalents compared of quarter December first million XX% $XX.X account Our to in cash in compared of million of after non-GAAP of our the to year $X represented the gross ended high increase generated stronger we double-digit have was in was full our paid $XX.X in end the XXXX. range is was adjusted loss diluted operating weighted a of strength our Adjusted XX% and proceeds $XX.X with our $X our the reflects shares if quarter the million, was the and average in last This $X.XX million savings This $X.X Free of ago gross quarter XX.X providing and guidance quarter our outstanding our better-than-expected, annual million third sale. quarter to on expenditures capital of part use pay and cash based quarter. $X.XX discipline. of to year merit first from of from in and and up average adjusted continued Profitability guidance taking quarter ongoing typical from EBITDA by the cost performance expense sale. quarter, Non-GAAP expense for ongoing $X the net to XX, like is prior excludes net exclude The consecutive the which than proceeds our of margins. provided shifting to cash million benefit of million cash a into million QX quarter EBITDA driven employee patent share year. XX.X in free $X in capitalized income was this due at reflecting the software increase per internal actions Non-GAAP cash

million perspective, of loss million income to non-GAAP loss $X million including share approximately and quarter, $X $XX.X a operating million revenue positive shares to of second million $X.XX of Non-GAAP professional From of be are we services and be million, per XX.X on between range average be the $XX.X to between in and revenue. EBITDA targeting net $X we million. a $X.X For profitability and approximately based expected $X.XX and $XXX,XXX weighted outstanding. expect between $X overages the is of adjusted million to

we For $XXX to last approximately million, $X.X million year, are estimate maintaining services of the of quarter full million provided includes $XXX million guidance revenue revenue, professional which we $X overage our an revenue. of of

operating our maintaining of year are guidance on $X maintaining per we between average we XX.X is and our million $XX this $X and outstanding.Lastly, which not We shares $X.XX also million. weighted we million received $X expected $X.X is to And expect include be does note the non-GAAP year. net and additional cash flow million. and to are guidance, this year loss profitability between loss based to expected full free be perspective adjusted range a million $X.XX positive full EBITDA be between from million million $XX share and $X million be in Non-GAAP to the to

QX free expect QX.A to cash quarters mind and for we remaining the our further you think in flow to guidance. addition, positive improving the about year, In as keep modestly QX be things of in each few and in building of

both against guidance adjusted On moved $X our of have constant rates EBITDA and million more full us exchange have would a the for since the foreign than currency higher beginning the First, basis, year. been year. revenue

additional FX are quarterly loss revenue services terms the combination due of as thousand sequential related a lower is profitability, decrease driven QX a as be referenced QX overages, start make, sheet relates lower to including a EBITDA unfavorable as annual by the balance The increase QX. merit employee an year increase.To cash. several customer to specifically the up, expenses there expected of $XXX,XXX growth, to our hundred in M&A-related it double-digit the by Second, strengthened our a in factors, and we few timing I both revenue from wrap from delivered pay driven we margins, and headwinds is earlier, in revenue QX to solid lower would professional We of which revenue to decline in subscription to QX. with and dollars.In couple a are revenue points revenue, had like adjusted decline of sequential of well

We expect the consistent focused strategic executing on in revenue future. we result growth on in will key are priorities that our

in are off results our are profitability XXXX, for improvement deliver and both these give year our we'll a free as we discuss cash be and strong We guidance.Please to a the we flow against back start outlined full confident further. our and moment to transition metrics will significant us in Q&A, targets, to to

We take analysts. questions from our to are now going compiled

questions churn? We'll Steve of better-than-expected Securities.Despite in our from Frankel second have first quarter. guiding in customer Rosenblatt set a in discussed Great. you Does revenue of customer declines the a take the additional of the XQ performance you're QX, for decline lost this function Or call? seen you

quarter We saying against upside some in our able start with we deliver were the I by to we had revenue fact So, pleased strong QX. a guess, were guidance. that I'd

look As at revenue. decline guiding for QX, are in a we you sequential

walk major got from piece you've first the we think I QX QX. to through if of the -- that

related their second to own is component the is that services. QX in professional that, media within M&A. say I'd First customer churned component large

quarter then about And FX, well lower Our which would within QX in professional guide strong services was X lastly, for as implies would relatively $XXX,XXX I headwinds less components, QX. be a as overage. we're in overages. mention the seeing

We in hundred thousand QX. expect few a dollars less

can next particularly company's in media? pipeline, question an update deal provide you on large is, the Steve's

Yes.

pipeline about We've $XXX,XXX would closed number call the over been it's and I annual of the time. building good think in high feel certainly we how what QX. I very value deals

down coming more of see the we think I pike. those

call a of numerous, let's deals dollars in of see also millions each we types few think X-figure next quarters. them, plus I of potentially the

challenge of We be. those effectively sort feel that's As way can our knowing about exactly deals can really always when is smaller because we've building. same deals to the how conclusion we it's always said, not good the control, within bring been

see I to sequential the be of think going and the QX you'll our can and the QX into hear in the land if guidance of more from in we year, rest and those more really we upside us for in quarters. that's from potential to QX

it is, grow final a can it take to Steve's the question And consistently to business where will revenue? get what point

come the Yes. business back up add-on to right? things, our with said enablement after I really years. you'll And to we the back. things base to building seen, the pretty side. as team of sell growth our that, right believe confident customer go entitlement growth sales believe to feel that the about side add-on call, then rather we've fueled historical our we we start had of But That's those those previous the over new we're existing that levels if doing doing our existing business to muscle on we're in. products on see growth and sort I back, go kick into the and bring getting entitlement a and does lot that than that in

I there. think well we're doing

also big really a those in if think or to quarter, cook a I start come can quarter. than more but deals X X rate at per higher

some growth we I see start think really consistent to there.

consistent get goal is that back to our growth. to that So

end the goal type -- that a get You've of couple Obviously, seen to that do if year. believe here greater, of a percent. of take to is here back not to but the the here we're by back going quarters to growth, quarter, X-ish us I in of that

Have questions Street in either Capital business Okay. anticipate recovery of add-on seen the any in shoots We'll Markets.Your in from Lake of you or month in or did not of Martinuzzi prior take XXXX. QX April? any outlook our set green usage next Eric

we have some. seen I think

beginning, that of ], think that for guidance that in business I has and the implied we've and entitlement our 'XX. not said said, as rolling come was we've [ sort back of sort from

number side, our in customer enterprise now enterprise there's in believe base, potential the days sort our customer to with accounts our success see a to that customers. marketing then to on add-on at existing sell this for point. we but I customer base those studio we many add-ons of and I meaningful complete to ownership a those quarters from nothing to our and there, of out and we've to that greater going quality Com as business early think want that be we some cost would do fully the from base pitches existing to into those it's call seen more upgrading be have front. on of products in of media video opportunity the terms what with go excellence of sort try to we're really up total about cloud side.And out rolling existing We're We existing an the deliver And have of that on upgrade Studio that going let grow going I of had to perspective

demand the contrast between and accounts compare you accounts? in your can question, media traditional your environment next pipeline enterprise and Eric's

environment for Yes, in I very think demand media is the big us. deal-driven

in have on. We really about it's stage, either upsell, be this global customers can they're bring going a be can number really but big to a new or in space, big big things decent on new especially in of which customers ones doing we

much play.On So that pipeline big more that volume-based. enterprise comes earlier into that's was deal about where side, the asked really

over base, figure trying customer X,XXX out enterprise those great that into to can have we customers. We're We a add-ons business. how build really

sort as speed, I that one of can well how even and same more. I see really can, pipelines that's to were that build We'd new those see about will to If start it's built come love some international that like build growth more. so, think America business you'll good. up And be products I those we think which when there.Again, relatively cases, always a North on relatively as perspective that's those. throughput customers get get feel use from to I volume. believe as upsell doing critiquing decent these we soon from for And us. can on will I we enterprise, we earlier, We've to into talked is that got area, we And

And Eric's you the done final still with be are question cost a fine-tuning there in rolled is, force through cuts? reduction you quarter. Or Are in structure cost first done? to to the X%

resourced at of terms or are this actions, business adjusted we in the rightsized where I and our the to I guidance of EBITDA confident seeing actions we year. year-over-year are say, XX%, think in for our last both feel well our year QX of like a EBITDA. those as both we're and have benefit we our we plans that of I'd go-to-market. improvement this say take think we pretty in and no QX sure adjusted in further further would quarter making XX% I make for did But as -- strategy

think as about you cost goods would business, call try about one If think and manage meet the financial anything that we've we in our way further. That this out, to think I see would about an such we be past. that there more ability the progress within wouldn't to in will We So be where are the our laid probably we've area. be think expenses. technology area business continue the But continue probably in resources feel would we sold, judicious operational very be to that. year. out where we of spend But area you that optimize we would targets that good I disciplined was I made generally, see probably there's can to have that our pretty very in we it impact us

Great. Well John. said,

So think don't we I any with questions. have further that,

to this and intrinsic are First, both all our at here to I and and ever that, QX. you John my backlog us the that incredibly at thank our attractive partner, Brightcove hope is guidance high AI-driven in through real quarter that have takeaways delivering as investment from forward. that, innovation cash an reiterating here that with the generation the current sheet strong a a full want strengthening forward each joining with fundamentals to of the believe lastly, our we'll that growth product leaving call believe had EBITDA, and with we and model with revenue first all going end thank history And profitability and Brightcove. at with consistent growing I'll for strong the highest speaking quarter you commitment future today us. XXXX, our We our end rigor year and recurring we But the of executing operational with balance secure our beating meeting we're revenue start suite to represents guidance or you earnings capitalization forward.And more look quarter. path we next for is value level.With market opportunity a market-leading an And going deliver disconnected growth and believe clear we that and for can we closing his out debt-free