Brightcove (BCOV) 10-Q 2 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	BRIGHTCOVE INC
Entity Central Index Key	0001313275
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Transition Report	false
Trading Symbol	BCOV
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Address Line One	281 Summer Street
Entity Address, Postal Zip Code	02210
City Area Code	888
Local Phone Number	882-1880
Entity Tax Identification Number	20-1579162
Entity File Number	001-35429
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		42,072,217

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 31,348	$ 45,739
Accounts receivable, net of allowance of $355 and $353 at September 30, 2022 and December 31, 2021, respectively	31,891	29,866
Prepaid expenses	8,976	7,792
Other current assets	10,338	10,833
Total current assets	82,553	94,230
Property and equipment, net	36,579	20,514
Operating lease right-of-use asset	19,387	24,891
Intangible assets, net	11,296	9,276
Goodwill	74,859	60,902
Other assets	6,564	6,655
Total assets	231,238	216,468
Current liabilities:
Accounts payable	13,060	11,039
Accrued expenses	23,730	20,925
Operating lease liability	4,028	2,600
Deferred revenue	65,067	62,057
Total current liabilities	105,885	96,621
Operating lease liability, net of current portion	21,073	22,801
Other liabilities	963	786
Total liabilities	127,921	120,208
Commitments and contingencies (Note 8)
Stockholders' equity:
Undesignated preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued
Common stock, $0.001 par value; 100,000,000 shares authorized; 42,193,504 and 41,384,643 shares issued at September 30, 2022 and December 31, 2021, respectively	42	41
Additional paid-in capital	311,283	298,793
Treasury stock, at cost; 135,000 shares	(871)	(871)
Accumulated other comprehensive loss	(2,478)	(662)
Accumulated deficit	(204,659)	(201,041)
Total stockholders' equity	103,317	96,260
Total liabilities and stockholders' equity	$ 231,238	$ 216,468

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 355	$ 353
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	42,193,504	41,384,643
Treasury stock, shares	135,000	135,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue:
Revenue	$ 53,944	$ 52,163	$ 161,770	$ 158,452
Cost of revenue:
Cost of revenue	20,063	18,653	57,747	55,045
Gross profit	33,881	33,510	104,023	103,407
Operating expenses:
Research and development	7,931	7,902	24,540	24,041
Sales and marketing	19,023	18,451	55,272	52,730
General and administrative	7,748	7,345	24,391	21,822
Merger-related		45	747	300
Other expense (benefit)		0	1,149	(1,965)
Total operating expenses	34,702	33,743	106,099	96,928
Loss (income) from operations	(821)	(233)	(2,076)	6,479
Other (expense) income, net	(668)	(319)	(1,880)	(937)
(Loss) income before income taxes	(1,489)	(552)	(3,956)	5,542
Provision (benefit) for income taxes	191	468	(338)	562
Net (loss) income	$ (1,680)	$ (1,020)	$ (3,618)	$ 4,980
Net (loss) income per share-basic and diluted
Basic	$ (0.04)	$ (0.02)	$ (0.09)	$ 0.12
Diluted	$ (0.04)	$ (0.02)	$ (0.09)	$ 0.12
Weighted-average shares-basic and diluted
Basic	41,972	40,935	41,712	40,571
Diluted	41,972	40,935	41,712	42,237
Subscription and Support Revenue [Member]
Revenue:
Revenue	$ 51,814	$ 49,226	$ 156,403	$ 148,667
Cost of revenue:
Cost of revenue	18,247	16,406	52,172	46,840
Professional Services and Other Revenue [Member]
Revenue:
Revenue	2,130	2,937	5,367	9,785
Cost of revenue:
Cost of revenue	$ 1,816	$ 2,247	$ 5,575	$ 8,205

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (1,680)	$ (1,020)	$ (3,618)	$ 4,980
Other comprehensive income:
Foreign currency translation adjustments	(716)	(238)	(1,816)	(412)
Comprehensive (loss) income	$ (2,396)	$ (1,258)	$ (5,434)	$ 4,568

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2020		$ 41	$ 287,059	$ (871)	$ (188)	$ (206,438)
Beginning Balance, shares at Dec. 31, 2020		40,152,021
Treasury shares, beginning Balance at Dec. 31, 2020				(135,000)
Issuance of common stock upon exercise of stock options and vesting of restricted stock units			825
Issuance of common stock upon exercise of stock options and vesting of restricted stock units, shares		1,023,833
Common stock issued upon acquisition		$ 0	0
Stock-based compensation expense			7,580
Foreign currency translation adjustment	$ (412)				(412)
Net (loss) income						4,980
Ending Balance at Sep. 30, 2021	$ 92,576	$ 41	295,464	$ (871)	(600)	(201,458)
Ending Balance, shares at Sep. 30, 2021		41,175,854
Treasury stock, Ending Balance at Sep. 30, 2021	(135,000)			(135,000)
Beginning Balance at Jun. 30, 2021		$ 41	292,775	$ (871)	(362)	(200,438)
Beginning Balance, shares at Jun. 30, 2021		40,946,572
Treasury shares, beginning Balance at Jun. 30, 2021				(135,000)
Issuance of common stock upon exercise of stock options and vesting of restricted stock units			194
Issuance of common stock upon exercise of stock options and vesting of restricted stock units, shares		229,282
Common stock issued upon acquisition		$ 0	0
Stock-based compensation expense			2,495
Foreign currency translation adjustment	$ (238)				(238)
Net (loss) income						(1,020)
Ending Balance at Sep. 30, 2021	$ 92,576	$ 41	295,464	$ (871)	(600)	(201,458)
Ending Balance, shares at Sep. 30, 2021		41,175,854
Treasury stock, Ending Balance at Sep. 30, 2021	(135,000)			(135,000)
Beginning Balance at Dec. 31, 2021	$ 96,260	$ 41	298,793	$ (871)	(662)	(201,041)
Beginning Balance, shares at Dec. 31, 2021		41,384,643
Treasury shares, beginning Balance at Dec. 31, 2021	(135,000)			(135,000)
Issuance of common stock upon exercise of stock options and vesting of restricted stock units			91
Issuance of common stock upon exercise of stock options and vesting of restricted stock units, shares		808,861
Common stock issued upon acquisition		$ 1	1,987
Stock-based compensation expense			10,412
Foreign currency translation adjustment	$ (1,816)				(1,816)
Net (loss) income						(3,618)
Ending Balance at Sep. 30, 2022	$ 103,317	$ 42	311,283	$ (871)	(2,478)	(204,659)
Ending Balance, shares at Sep. 30, 2022		42,193,504
Treasury stock, Ending Balance at Sep. 30, 2022	(135,000)			(135,000)
Beginning Balance at Jun. 30, 2022		$ 42	308,314	$ (871)	(1,762)	(202,979)
Beginning Balance, shares at Jun. 30, 2022		42,029,575
Treasury shares, beginning Balance at Jun. 30, 2022				(135,000)
Issuance of common stock upon exercise of stock options and vesting of restricted stock units			(8)
Issuance of common stock upon exercise of stock options and vesting of restricted stock units, shares		163,929
Common stock issued upon acquisition		$ 0	0
Stock-based compensation expense			2,977
Foreign currency translation adjustment	$ (716)				(716)
Net (loss) income						(1,680)
Ending Balance at Sep. 30, 2022	$ 103,317	$ 42	$ 311,283	$ (871)	$ (2,478)	$ (204,659)
Ending Balance, shares at Sep. 30, 2022		42,193,504
Treasury stock, Ending Balance at Sep. 30, 2022	(135,000)			(135,000)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net (loss) income	$ (3,618)	$ 4,980
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	7,141	6,284
Stock-based compensation	9,969	7,234
Provision for reserves on accounts receivable	166	246
Changes in assets and liabilities:
Accounts receivable	(1,871)	710
Prepaid expenses and other current assets	(1,351)	(914)
Other assets	38	(1,273)
Accounts payable	863	79
Accrued expenses	(242)	(4,402)
Operating leases	5,202	(903)
Deferred revenue	3,452	2,707
Net cash provided by operating activities	19,749	14,748
Investing activities
Cash paid for acquisition, net of cash acquired	(13,215)	0
Purchases of property and equipment	(8,617)	(1,625)
Capitalized internal-use software costs	(9,678)	(4,657)
Net cash used in investing activities	(31,510)	(6,282)
Financing activities
Proceeds from exercise of stock options	142	2,200
Deferred acquisition payments	0	(475)
Other financing activities	(50)	(1,375)
Net cash provided by financing activities	92	350
Effect of exchange rate changes on cash and cash equivalents	(2,722)	(1,003)
Net (decrease) increase in cash and cash equivalents	(14,391)	7,813
Cash and cash equivalents at beginning of period	45,739	37,472
Cash and cash equivalents at end of period	31,348	45,285
Supplemental disclosure of cash flow information
Cash paid for operating lease liabilities	1,548	3,505
Cash received for lease inducement	3,437	0
Cash paid for income taxes	$ 527	$ 681

Business Description and Basis

Business Description and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description and Basis of Presentation	1. Business Description and Basis of Presentation Business Description Brightcove Inc. (the “Company”) is a leading global provider of cloud services for video which enable its customers to publish and distribute video to Internet-connected devices quickly, easily and in a cost-effective and high-quality manner. The Company is headquartered in Boston, Massachusetts and was incorporated in the state of Delaware on August 24, 2004. Basis of Presentation The accompanying interim condensed consolidated financial statements are unaudited. These unaudited condensed consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the unaudited condensed consolidated financial statements and notes have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2021 contained in the Company’s Annual Report on Form 10-K and include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company’s financial position and results of operations for the three and nine months ended September 30, 2022 and 2021 . These interim periods are not necessarily indicative of the results to be expected for any other interim period or the full year.

Quarterly Update to Significant

Quarterly Update to Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Quarterly Update to Significant Accounting Policies	2. Quarterly Update to Significant Accounting Policies Allowance for Doubtful Accounts The following details the changes in the Company’s reserve allowance for estimated credit losses for accounts receivable for the period: Allowance for Credit Losses (in thousands) Balance as of December 31, 2021 $ 353 Current provision for credit losses 166 Write-offs against allowance ( 164 ) Balance as of September 30, 2022 $ 355 Estimated credit losses for unbilled trade accounts receivable were not material. Other Expense (Benefit) . Other expense (benefit), reflects other operating costs (or benefits) that do not directly relate to research and development, sales and marketing, general and administrative, and merger related. On March 28, 2022, the Chief Executive Officer (“CEO”) of the Company retired. Pursuant to a Transition Agreement that was entered into by the CEO and the Company in October 2021, the Company recorded $ 1.1 million of expense reflecting both wages and stock compensation in the first quarter of 2022. On March 27, 2020, in response to the COVID-19 pandemic, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security Act which was amended by the Consolidated Appropriations Act in December of 2020 (the "CARES Act"). The CARES Act provides numerous tax provisions and other stimulus measures, including the creation of certain refundable employee retention credits. In the first quarter of 2021, the Company recognized a benefit of $ 2.0 million from the CARES Act related to employee retention credits. The Company recognizes such government relief when it is reasonably assured that it qualifies for the relief, the underlying expense has been incurred and it is probable that the Company will receive it. Credits associated with government relief are recognized in profit or loss on a systematic basis over the periods in which the Company recognizes as expense the related costs for which the relief is intended to compensate. Recently Issued and Adopted Accounting Pronouncements In November 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-10, Government Assistance (Topic 832): Disclosure by Business Entities about Government Assistance , which improves the transparency of government assistance received by requiring the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on an entity's financial statements. Effective January 1, 2022, the Other Expense (Benefit) section of these Notes to Condensed Consolidated Financial Statements for government assistance received by the Company in 2021. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. Under ASU 2021-08, an acquirer must recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. Effective January 1, 2022, the Company early adopted ASU 2021-08 on a prospective basis. The impact of adoption of this standard on the Company’s consolidated financial statements was not material.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	3. Revenue from Contracts with Customers The Company primarily derives revenue from the sale of its online video platform, which enables its customers to publish and distribute video to Internet-connected devices quickly, easily and in a cost-effective and high-quality manner. Revenue is derived from three primary sources: (1) the subscription to its technology and related support; (2) hosting, bandwidth and encoding services; and (3) professional services, which include initiation, set-up and customization services. The following summarizes the opening and closing balances of receivables, contract assets and contract liabilities from contracts with customers. (in thousands) Accounts Receivable, net Contract Assets (current) Deferred Revenue (current) Deferred Revenue (non-current) Total Deferred Revenue Balance at December 31, 2021 $ 29,866 $ 2,375 $ 62,057 $ 114 $ 62,171 Balance at September 30, 2022 31,891 2,094 65,067 405 65,472 Revenue recognized for the three and nine months ended September 30, 2022 from amounts included in deferred revenue at the beginning of the period was approximately $ 9.1 million and $ 57.2 million respectively. During the three and nine months ended September 30, 2022, the Company did not recognize a material amount of revenue from performance obligations satisfied or partially satisfied in previous periods. The assets recognized for costs to obtain a contract were $ 11.4 million as of September 30, 2022 and $ 12.2 million as of December 31, 2021. Amortization expense recognized for the three and nine months ended September 30, 2022 related to costs to obtain a contract was $ 2.7 million and $ 7.7 million, respectively. Amortization expense recognized for the three and nine months ended September 30, 2021 related to costs to obtain a contract was $ 3.3 million and $ 9.6 million, respectively. Transaction Price Allocated to Future Performance Obligations As of September 30, 2022, the total aggregate transaction price allocated to the unsatisfied performance obligations for subscription and support contracts was approximately $ 144.1 million, of which approximately $ 113.8 million is expected to be recognized over the next 12 months. The Company expects to recognize substantially all of the remaining unsatisfied performance obligations by December 2024.

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	Sep. 30, 2022
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	4. Cash and Cash Equivalents Cash and cash equivalents as of September 30, 2022 consist of the following: September 30, 2022 Description Contracted Cost Fair Market (in thousands) Cash Demand $ 31,307 $ 31,307 Money market funds Demand 41 41 Total cash and cash equivalents $ 31,348 $ 31,348 Cash and cash equivalents as of December 31, 2021 consist of the following: December 31, 2021 Description Contracted Cost Fair Market (in thousands) Cash Demand $ 45,698 $ 45,698 Money market funds Demand 41 41 Total cash and cash equivalents $ 45,739 $ 45,739

Net (Loss) Income per Share

Net (Loss) Income per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net (Loss) Income per Share	5. Net (Loss) Income per Share The Company calculates basic and diluted (loss) earnings per common share by dividing the (loss) earnings amount by the number of common shares outstanding during the period. The calculation of diluted earnings per common share includes the effects of the assumed exercise of any outstanding stock options and the assumed vesting of shares of restricted stock awards, where dilutive. The following table set forth the computations of basic and diluted (loss) earnings per share: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Net (loss) income $ ( 1,680 ) $ ( 1,020 ) $ ( 3,618 ) $ 4,980 Weighted average shares used in computing basic earnings per share 41,972 40,935 41,712 40,571 Effect of weighted average dilutive stock-based awards - - - 1,667 Weighted average shares used in computing diluted earnings per share 41,972 40,935 41,712 42,237 Net (loss) income per share—basic and diluted Basic $ ( 0.04 ) $ ( 0.02 ) $ ( 0.09 ) $ 0.12 Diluted $ ( 0.04 ) $ ( 0.02 ) $ ( 0.09 ) $ 0.12 The following outstanding common shares have been excluded from the computation of dilutive (loss) earnings per share as of the periods indicated because such securities are anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, (shares in thousands) 2022 2021 2022 2021 Options outstanding 1,463 1,803 1,463 147 Restricted stock units outstanding 5,705 3,185 5,705 56

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	6. Stock-based Compensation On March 28, 2022, Marc DeBevoise began as the Company’s CEO. Effective February 8, 2022, the Company adopted the 2022 Inducement Plan (“2022 Plan”). The 2022 Plan provides for the grant of “employment inducement awards” within the meaning of NASDAQ Listing Rule 5635(c)(4). In connection with the commencement of his employment, the Company granted 800,000 restricted stock units to the CEO under the 2022 Plan, of which 300,000 are subject solely to service-based vesting conditions (the “RSUs”) and 500,000 are subject to both market-based and service-based vesting conditions (the “PSUs”). The RSUs vest in equal annual installments over three years following March 28, 2022. The market-based vesting conditions applicable to the PSUs are achieved only if the volume weighted average price of the Company’s common stock during any 20 consecutive trading day period in the four year performance period following the CEO’s start date, March 28, 2022, equals or exceeds stock price hurdles ranging from $ 12.50 to $ 30.00 , increasing in seven increments of $ 2.50 . The percentage of the award that is earned upon achievement of each stock price hurdle is 10 % of the PSUs for each of the first two achievement tiers, 12.5 % for each of the next four achievement tiers and 15 % for each of the final two achievement tiers. The PSUs vest 50 % upon achievement of a stock price hurdle and 50 % upon the earlier of the one-year anniversary of such achievement date or March 28, 2025, subject to the CEO’s continued employment through the applicable vesting date. For restricted stock units with market-based performance conditions, the cost of the awards is recognized as the requisite service is rendered by the employee, regardless of when, if ever, the market-based performance conditions are satisfied. The Monte-Carlo simulation model is used to estimate fair value of market-based performance restricted stock units. The Monte-Carlo simulation model calculates multiple potential outcomes for an award and establishes a fair value based on the most likely outcome. Key assumptions for the Monte-Carlo simulation model include the risk-free rate, expected volatility, expected dividends and the correlation coefficient. The weighted-average assumptions utilized to determine the weighted-average fair value of options are presented in the following table: Nine Months Ended September 30, 2022 2021 Weighted-average fair value of options granted during the period $ — $ 7.51 Risk-free interest rate — 1.16 % Expected volatility — 48 % Expected life (in years) — 6.2 Expected dividend yield — — As of September 30, 2022, there was $ 34.5 million of unrecognized stock-based compensation expense related to stock-based awards that is expected to be recognized over a weighted-average period of 2.57 years. The following table summarizes stock-based compensation expense as included in the consolidated statement of operations for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Stock-based compensation: Cost of subscription and support revenue $ 132 $ 157 $ 385 $ 501 Cost of professional services and other revenue 76 113 334 299 Research and development 378 408 2,035 1,261 Sales and marketing 1,015 583 2,857 2,082 General and administrative 1,245 1,072 4,109 3,091 Other expense (benefit) - — 249 0 $ 2,846 $ 2,333 $ 9,969 $ 7,234 The following is a summary of the stock option activity during the nine months ended September 30, 2022. Number of Weighted-Average Weighted-Average (In Years) Aggregate Outstanding at December 31, 2021 1,681,477 $ 9.59 Granted — — Exercised ( 22,650 ) 6.25 $ 37,545 Canceled ( 196,291 ) 11.32 Outstanding at September 30, 2022 1,462,536 $ 9.39 5.06 $ 75,429 Exercisable at September 30, 2022 1,316,567 $ 9.08 4.73 $ 75,429 (1) The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s common stock on September 30, 2022 of $ 6.30 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options. The following table summarizes the restricted stock unit activity for our service-based awards (“S-RSU”) and our performance-based awards (“P-RSU”) during the nine months ended September 30, 2022: S-RSU Shares Weighted Grant Fair Value P-RSU Shares Weighted Grant Fair Value Total RSU Shares Weighted Grant Fair Value Unvested at December 31, 2021 2,915,720 $ 11.66 1,021,172 $ 11.04 3,936,892 $ 11.50 Granted 3,292,536 7.20 500,000 8.11 3,792,536 7.32 Vested and issued ( 573,704 ) 11.91 — — ( 573,704 ) 11.91 Canceled ( 1,107,609 ) 10.20 ( 343,176 ) 13.04 ( 1,450,785 ) 10.87 Unvested at September 30, 2022 4,526,943 $ 8.74 1,177,996 $ 9.22 5,704,939 $ 8.84

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The income tax expense relates principally to the Company’s foreign operations. The Company is required to compute income tax expense in each jurisdiction in which it operates. This process requires the Company to project its current tax liability and estimate its deferred tax assets and liabilities, including net operating loss (“NOL”) and tax credit carry-forwards. In assessing the ability to realize the net deferred tax assets, management considers whether it is more likely than not that some portion or all of the net deferred tax assets will not be realized. The Company has provided a valuation allowance against its remaining U.S. net deferred tax assets as of September 30, 2022 and December 31, 2021, based upon the level of historical U.S. losses and future projections over the period in which the net deferred tax assets are deductible, at this time, management believes it is more likely than not that the Company will not realize the benefits of these deductible differences. During the nine months ended September 30, 2022, the Company recorded a benefit of $ 1.0 million in the U.S. for the release of a portion of the Company’s valuation allowance. This release of the valuation allowance is related to the acquisition of Wicket Labs, Inc. completed in February 2022 and the creation of deferred tax liabilities in purchase accounting that serve as a source of income for the Company’s pre-existing deferred tax assets.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Legal Matters The Company, from time to time, is party to litigation arising in the ordinary course of business. Management does not believe that the outcome of these claims will have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Company based on the status of proceedings at this time. Guarantees and Indemnification Obligations The Company typically enters into indemnification agreements in the ordinary course of business. Pursuant to these agreements, the Company indemnifies and agrees to reimburse the indemnified party for losses and costs incurred by the indemnified party, generally the Company’s customers, in connection with patent, copyright, trade secret, or other intellectual property or personal right infringement claims by third parties with respect to the Company’s technology. The term of these indemnification agreements is generally perpetual after execution of the agreement. Based on when customers first subscribe for the Company’s service, the maximum potential amount of future payments the Company could be required to make under certain of these indemnification agreements is unlimited, however, more recently the Company has typically limited the maximum potential value of such potential future payments in relation to the value of the contract. Based on historical experience and information known as of September 30, 2022, the Company has not incurred any costs for the above guarantees and indemnities. The Company has received requests for indemnification from customers in connection with patent infringement suits brought against the customer by a third party. To date, the Company has not agreed that the requested indemnification is required by the Company’s contract with any such customer. In certain circumstances, the Company warrants that its products and services will perform in all material respects in accordance with its standard published specification documentation in effect at the time of delivery of the licensed products and services to the customer for the warranty period of the product or service. To date, the Company has not incurred significant expense under its warranties and, as a result, the Company believes the estimated fair value of these agreements is immaterial.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	9. Debt On December 28, 2020 , the Company entered into an amended and restated loan and security agreement with a lender (the “Loan Agreement”) providing for up to a $ 30.0 million asset-based line of credit (the “Line of Credit”). Borrowings under the Line of Credit are secured by substantially all of the Company’s assets, excluding its intellectual property. Outstanding amounts under the Line of Credit accrue interest at a rate as follows: (i) for prime rate advances, the greater of (A) the prime rate and (B) 4 %, and (ii) for LIBOR advances, the greater of (A) the LIBOR rate plus 225 basis points and (B) 4 %. Under the Loan Agreement, the Company must comply with certain financial covenants, including maintaining a minimum asset coverage ratio. If the outstanding principal during any month is at least $ 15.0 million, the Company must also maintain a minimum net income threshold based on non-GAAP operating measures. Failure to comply with these covenants, or the occurrence of an event of default, could permit the lenders under the Line of Credit to declare all amounts borrowed under the Line of Credit, together with accrued interest and fees, to be immediately due and payable. The Line of Credit agreement will expire on December 28, 2023 . The Company was in compliance with all applicable covenants under the Line of Credit as of September 30, 2022 and there were no borrowings outstanding as of September 30, 2022.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	10. Segment Information Geographic Data Total revenue from unaffiliated customers by geographic area, based on the location of the customer, was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenue: North America $ 29,864 $ 29,420 $ 89,344 $ 89,204 Europe 8,847 9,689 28,080 28,159 Japan 4,842 6,185 17,180 19,263 Asia Pacific 10,312 6,746 26,808 21,421 Other 79 123 358 405 Total revenue $ 53,944 $ 52,163 $ 161,770 $ 158,452 North America is comprised of revenue from the United States, Canada and Mexico. Revenue from customers located in the United States was $ 28.2 million and $ 27.6 million for the three months ended September 30, 2022 and 2021, respectively. Revenue from customers located in the United States was $ 84.1 million and $ 83.6 million for the nine months ended September 30, 2022 and 2021, respectively. Other than the United States and Korea, no other country contributed more than 10 % of the Company's total revenue for the three months ended September 30, 2022 . Other than the United States and Japan, no other country contributed more than 10 % of the Company's total revenue during the three months ended September 30, 2021 . Other than the United States and Japan, no other country contributed more than 10 % of the Company’s total revenue during the nine months ended September 30, 2022 and 2021 .

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Business Combinations	11. Business Combinations Other Business Combinations On February 1, 2022, the Company acquired 100 % of the outstanding shares of Wicket Labs, Inc. (“Wicket Labs”) a provider of subscriber and content insights, in exchange for common stock of the Company and cash, (“Wicket Acquisition”). At the closing, the Company issued 212,507 unregistered shares of common stock of the Company valued at approximately $ 2.0 million and approximately $ 13.2 million in cash. Pursuant to the merger agreement, approximately $ 1.8 million of the cash consideration was held back to secure payment of any claims of indemnification for breaches or inaccuracies in the sellers’ representations and warranties, covenants and agreements. During the nine months ended September 30, 2022, the Company paid $ 0.1 million of cash consideration held back to the sellers for the satisfaction of certain representations and warranties. The Wicket Acquisition was accounted for using the purchase method of accounting in accordance with Accounting Standards Codification 805 — Business Combinations . Accordingly, the results of operations of the acquired company have been included in the accompanying condensed consolidated financial statements since the date of acquisition. The purchase price has been allocated to the tangible and intangible assets acquired and liabilities assumed based upon the respective estimates of fair value as of the date of the Wicket Acquisition, and using assumptions that the Company’s management believes are reasonable given the information currently available. The Company is in the process of completing its valuation of its intangible assets, accounts receivable, deferred revenue and the valuation of the acquired deferred tax assets and liabilities. The final allocations of the purchase price to intangible assets, accounts receivable, deferred revenue, goodwill and any deferred tax assets and liabilities may differ materially from the information presented in these unaudited condensed consolidated financial statements. During the three months ended September 30, 2022 , the Company did no t incur merger-related costs related to the Wicket Acquisition. During the nine months ended September 30, 2022, the Company incurred $ 0.7 million of merger-related costs related to the Wicket Acquisition. The excess of the purchase price over the estimated amounts of net assets as of the effective date of the acquisition was allocated to goodwill in accordance with the accounting guidance. The factors contributing to the recognition of the amount of goodwill are based on several strategic and synergistic benefits that are expected to be realized from the Wicket Acquisition. These benefits include the acquired workforce and opportunities to expand the Company’s offerings in target market segments that use subscriber and content insights to make decisions. The goodwill is expected to be non-deductible for tax purposes. The total purchase price for the Wicket Acquisition has been allocated as follows: Cash $ 53 Accounts receivable and other assets 782 Identifiable intangible assets 4,382 Goodwill 13,957 Deferred revenue ( 1,033 ) Deferred tax liabilities ( 1,009 ) Other liabilities ( 95 ) Total estimated purchase price $ 17,037 The following are the identifiable intangible assets acquired and their respective useful lives, as determined based on preliminary valuations: Amount Useful Life Developed technology $ 4,200 6 Customer relationships 182 5 Total $ 4,382 The preliminary fair value of the intangible assets has been estimated using the income approach in which the after-tax cash flows are discounted to present value. The cash flows are based on estimates used to price the transaction, and the discount rates applied were benchmarked with reference to the implied rate of return from the transaction model as well as the weighted average cost of capital. The estimated amortization expense for 2022 and for each of the five succeeding years and thereafter is as follows: Year Ending December 31, Amount 2022 $ 614 2023 736 2024 736 2025 736 2026 736 2027 and thereafter 824 Total $ 4,382 Pro forma results of operations for the Wicket Acquisition have not been presented because the effect of the acquisition is not material to the Company's consolidated financial results. Revenue and earnings attributable to acquired operations since the date of the acquisition are included in the Company's consolidated statements of operations. The changes in the carrying amount of goodwill for the nine months ended September 30, 2022 were as follows: Balance as of January 1, 2022 $ 60,902 Wicket acquisition 13,957 Balance as of September 30, 2022 $ 74,859

Business Description and Basi_2

Business Description and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description	Business Description Brightcove Inc. (the “Company”) is a leading global provider of cloud services for video which enable its customers to publish and distribute video to Internet-connected devices quickly, easily and in a cost-effective and high-quality manner. The Company is headquartered in Boston, Massachusetts and was incorporated in the state of Delaware on August 24, 2004.
Basis of Presentation	Basis of Presentation The accompanying interim condensed consolidated financial statements are unaudited. These unaudited condensed consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the unaudited condensed consolidated financial statements and notes have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2021 contained in the Company’s Annual Report on Form 10-K and include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company’s financial position and results of operations for the three and nine months ended September 30, 2022 and 2021 . These interim periods are not necessarily indicative of the results to be expected for any other interim period or the full year.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The following details the changes in the Company’s reserve allowance for estimated credit losses for accounts receivable for the period: Allowance for Credit Losses (in thousands) Balance as of December 31, 2021 $ 353 Current provision for credit losses 166 Write-offs against allowance ( 164 ) Balance as of September 30, 2022 $ 355 Estimated credit losses for unbilled trade accounts receivable were not material.
Other Expense (Benefit)	Other Expense (Benefit) . Other expense (benefit), reflects other operating costs (or benefits) that do not directly relate to research and development, sales and marketing, general and administrative, and merger related. On March 28, 2022, the Chief Executive Officer (“CEO”) of the Company retired. Pursuant to a Transition Agreement that was entered into by the CEO and the Company in October 2021, the Company recorded $ 1.1 million of expense reflecting both wages and stock compensation in the first quarter of 2022. On March 27, 2020, in response to the COVID-19 pandemic, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security Act which was amended by the Consolidated Appropriations Act in December of 2020 (the "CARES Act"). The CARES Act provides numerous tax provisions and other stimulus measures, including the creation of certain refundable employee retention credits. In the first quarter of 2021, the Company recognized a benefit of $ 2.0 million from the CARES Act related to employee retention credits. The Company recognizes such government relief when it is reasonably assured that it qualifies for the relief, the underlying expense has been incurred and it is probable that the Company will receive it. Credits associated with government relief are recognized in profit or loss on a systematic basis over the periods in which the Company recognizes as expense the related costs for which the relief is intended to compensate.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements In November 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-10, Government Assistance (Topic 832): Disclosure by Business Entities about Government Assistance , which improves the transparency of government assistance received by requiring the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on an entity's financial statements. Effective January 1, 2022, the Other Expense (Benefit) section of these Notes to Condensed Consolidated Financial Statements for government assistance received by the Company in 2021. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. Under ASU 2021-08, an acquirer must recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. Effective January 1, 2022, the Company early adopted ASU 2021-08 on a prospective basis. The impact of adoption of this standard on the Company’s consolidated financial statements was not material.

Quarterly Update to Significa_2

Quarterly Update to Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of Allowance for Doubtful Accounts	The following details the changes in the Company’s reserve allowance for estimated credit losses for accounts receivable for the period: Allowance for Credit Losses (in thousands) Balance as of December 31, 2021 $ 353 Current provision for credit losses 166 Write-offs against allowance ( 164 ) Balance as of September 30, 2022 $ 355

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Receivables, Contract Assets and Contract Liabilities from Contracts with Customers	The following summarizes the opening and closing balances of receivables, contract assets and contract liabilities from contracts with customers. (in thousands) Accounts Receivable, net Contract Assets (current) Deferred Revenue (current) Deferred Revenue (non-current) Total Deferred Revenue Balance at December 31, 2021 $ 29,866 $ 2,375 $ 62,057 $ 114 $ 62,171 Balance at September 30, 2022 31,891 2,094 65,067 405 65,472

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	9 Months Ended
	Sep. 30, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Cash and cash equivalents as of September 30, 2022 consist of the following: September 30, 2022 Description Contracted Cost Fair Market (in thousands) Cash Demand $ 31,307 $ 31,307 Money market funds Demand 41 41 Total cash and cash equivalents $ 31,348 $ 31,348 Cash and cash equivalents as of December 31, 2021 consist of the following: December 31, 2021 Description Contracted Cost Fair Market (in thousands) Cash Demand $ 45,698 $ 45,698 Money market funds Demand 41 41 Total cash and cash equivalents $ 45,739 $ 45,739

Net (Loss) Income per Share (Ta

Net (Loss) Income per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Computations of Basic and Diluted Earnings Per Share	The following table set forth the computations of basic and diluted (loss) earnings per share: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Net (loss) income $ ( 1,680 ) $ ( 1,020 ) $ ( 3,618 ) $ 4,980 Weighted average shares used in computing basic earnings per share 41,972 40,935 41,712 40,571 Effect of weighted average dilutive stock-based awards - - - 1,667 Weighted average shares used in computing diluted earnings per share 41,972 40,935 41,712 42,237 Net (loss) income per share—basic and diluted Basic $ ( 0.04 ) $ ( 0.02 ) $ ( 0.09 ) $ 0.12 Diluted $ ( 0.04 ) $ ( 0.02 ) $ ( 0.09 ) $ 0.12
Outstanding Common Shares Excluded from Computation of Dilutive Earnings (Loss) per Share	The following outstanding common shares have been excluded from the computation of dilutive (loss) earnings per share as of the periods indicated because such securities are anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, (shares in thousands) 2022 2021 2022 2021 Options outstanding 1,463 1,803 1,463 147 Restricted stock units outstanding 5,705 3,185 5,705 56

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Weighted Average Assumptions Utilized	The weighted-average assumptions utilized to determine the weighted-average fair value of options are presented in the following table: Nine Months Ended September 30, 2022 2021 Weighted-average fair value of options granted during the period $ — $ 7.51 Risk-free interest rate — 1.16 % Expected volatility — 48 % Expected life (in years) — 6.2 Expected dividend yield — —
Summary of Stock-based Compensation Expense	The following table summarizes stock-based compensation expense as included in the consolidated statement of operations for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Stock-based compensation: Cost of subscription and support revenue $ 132 $ 157 $ 385 $ 501 Cost of professional services and other revenue 76 113 334 299 Research and development 378 408 2,035 1,261 Sales and marketing 1,015 583 2,857 2,082 General and administrative 1,245 1,072 4,109 3,091 Other expense (benefit) - — 249 0 $ 2,846 $ 2,333 $ 9,969 $ 7,234
Summary of Stock Option Activity	The following is a summary of the stock option activity during the nine months ended September 30, 2022. Number of Weighted-Average Weighted-Average (In Years) Aggregate Outstanding at December 31, 2021 1,681,477 $ 9.59 Granted — — Exercised ( 22,650 ) 6.25 $ 37,545 Canceled ( 196,291 ) 11.32 Outstanding at September 30, 2022 1,462,536 $ 9.39 5.06 $ 75,429 Exercisable at September 30, 2022 1,316,567 $ 9.08 4.73 $ 75,429 (1) The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s common stock on September 30, 2022 of $ 6.30 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options.
Restricted Stock Units Activity	The following table summarizes the restricted stock unit activity for our service-based awards (“S-RSU”) and our performance-based awards (“P-RSU”) during the nine months ended September 30, 2022: S-RSU Shares Weighted Grant Fair Value P-RSU Shares Weighted Grant Fair Value Total RSU Shares Weighted Grant Fair Value Unvested at December 31, 2021 2,915,720 $ 11.66 1,021,172 $ 11.04 3,936,892 $ 11.50 Granted 3,292,536 7.20 500,000 8.11 3,792,536 7.32 Vested and issued ( 573,704 ) 11.91 — — ( 573,704 ) 11.91 Canceled ( 1,107,609 ) 10.20 ( 343,176 ) 13.04 ( 1,450,785 ) 10.87 Unvested at September 30, 2022 4,526,943 $ 8.74 1,177,996 $ 9.22 5,704,939 $ 8.84

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Total Revenue to Unaffiliated Customers by Geographic Area, Based on Location of Customer	Total revenue from unaffiliated customers by geographic area, based on the location of the customer, was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenue: North America $ 29,864 $ 29,420 $ 89,344 $ 89,204 Europe 8,847 9,689 28,080 28,159 Japan 4,842 6,185 17,180 19,263 Asia Pacific 10,312 6,746 26,808 21,421 Other 79 123 358 405 Total revenue $ 53,944 $ 52,163 $ 161,770 $ 158,452

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2022
Business Acquisition [Line Items]
Schedule of Total Purchase Price	The total purchase price for the Wicket Acquisition has been allocated as follows: Cash $ 53 Accounts receivable and other assets 782 Identifiable intangible assets 4,382 Goodwill 13,957 Deferred revenue ( 1,033 ) Deferred tax liabilities ( 1,009 ) Other liabilities ( 95 ) Total estimated purchase price $ 17,037
Schedule of Identifiable Intangible Assets Acquired and Their respective Useful Lives	The following are the identifiable intangible assets acquired and their respective useful lives, as determined based on preliminary valuations: Amount Useful Life Developed technology $ 4,200 6 Customer relationships 182 5 Total $ 4,382 The
Schedule of Estimated Remaining Amortization Expense	The estimated amortization expense for 2022 and for each of the five succeeding years and thereafter is as follows: Year Ending December 31, Amount 2022 $ 614 2023 736 2024 736 2025 736 2026 736 2027 and thereafter 824 Total $ 4,382
Schedule of Changes in the Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the nine months ended September 30, 2022 were as follows: Balance as of January 1, 2022 $ 60,902 Wicket acquisition 13,957 Balance as of September 30, 2022 $ 74,859

Quarterly Update to Significa_3

Quarterly Update to Significant Accounting Policies - Schedule of Allowance for Doubtful Accounts (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Credit Loss [Abstract]
Balance as of December 31, 2021	$ 353
Current provision for credit losses	166
Write-offs against allowance	(164)
Balance as of June 30, 2022	$ 355

Quarterly Update to Significa_4

Quarterly Update to Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 31, 2022	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee retention credits benefits recognized		$ 0	$ 2,000	$ (1,149)	$ 1,965
Transition Agreement [Member] | Other Operating Income (Expense) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Wages and stock compensation	$ 1,100

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Summary of Receivables, Contract Assets and Contract Liabilities from Contracts with Customers (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Accounts Receivable, net	$ 31,891	$ 29,866
Deferred Revenue (current)	65,067	62,057
Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, net	31,891	29,866
Contract Assets (current)	2,094	2,375
Deferred Revenue (current)	65,067	62,057
Deferred Revenue (non- current)	405	114
Total Deferred Revenue	$ 65,472	$ 62,171

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenue recognized	$ 9.1		$ 57.2
Assets recognized to obtain a contract	11.4		11.4		$ 12.2
Amortization expense recognized to obtain a contract	2.7	$ 3.3	7.7	$ 9.6
Subscription and Support Revenue [Member]
Unsatisfied performance obligations	144.1		144.1
Subscription and Support Revenue [Member] | Next Twelve Months [Member]
Unsatisfied performance obligations	$ 113.8		$ 113.8

Cash and Cash Equivalents - Sch

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investment Holdings [Line Items]
Cost	$ 31,348	$ 45,739
Fair Market Value	31,348	45,739
Cash [Member]
Investment Holdings [Line Items]
Cost	31,307	45,698
Fair Market Value	31,307	45,698
Money Market Funds [Member]
Investment Holdings [Line Items]
Cost	41	41
Fair Market Value	$ 41	$ 41

Net (Loss) Income per Share - S

Net (Loss) Income per Share - Schedule of Computations of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Earnings Per Share Basic And Diluted [Abstract]
Net (loss) income	$ (1,680)	$ (1,020)	$ (3,618)	$ 4,980
Weighted average shares used in computing basic earnings per share	41,972	40,935	41,712	40,571
Effect of weighted average dilutive stock-based awards	0	0	0	1,667
Weighted average shares used in computing diluted earnings per share	41,972	40,935	41,712	42,237
Net (loss) income per share-basic and diluted
Basic	$ (0.04)	$ (0.02)	$ (0.09)	$ 0.12
Diluted	$ (0.04)	$ (0.02)	$ (0.09)	$ 0.12

Net (Loss) Income per Share - O

Net (Loss) Income per Share - Outstanding Common Shares Excluded from Computation of Dilutive Earnings (Loss) per Share (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Options Outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common shares excluded from the computation of weighted-average shares outstanding	1,463	1,803	1,463	147
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common shares excluded from the computation of weighted-average shares outstanding	5,705	3,185	5,705	56

Stock based Compensation - Addi

Stock based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		9 Months Ended
	Mar. 28, 2022	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 34.5
Weighted average period		2 years 6 months 25 days
RSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards, granted		3,792,536
RSUs [Member] | 2022 Inducement Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	3 years
RSUs [Member] | 2022 Inducement Plan [Member] | Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards, granted	800,000
RSUs [Member] | Service Based Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards, granted		3,292,536
RSUs [Member] | Service Based Restricted Stock Units [Member] | 2022 Inducement Plan [Member] | Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards, granted	300,000
RSUs [Member] | Market-Based and Service-Based Performance Stock Units [Member] | 2022 Inducement Plan [Member] | Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards, granted	500,000
PSUs [Member] | 2022 Inducement Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of award earned upon each of first two achievement tiers	10%
Percentage of award earned upon each of next four achievement tiers	12.50%
Percentage of award earned upon each of final two achievement tiers	15%
PSUs [Member] | 2022 Inducement Plan [Member] | Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	4 years
Number of consecutive trading day	20 days
Increments of share price	$ 2.50
Percentage of award vest upon achievement of stock price	50%
Percentage of award vest upon earlier of one year anniversary of achievement	50%
PSUs [Member] | 2022 Inducement Plan [Member] | Chief Executive Officer [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share Price	$ 12.50
PSUs [Member] | 2022 Inducement Plan [Member] | Chief Executive Officer [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share Price	$ 30

Stock Based Compensation - Weig

Stock Based Compensation - Weighted Average Assumptions Utilized (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of options granted during the period	$ 0	$ 7.51
Risk-free interest rate	0%	1.16%
Expected volatility	0%	48%
Expected life (in years)		6 years 2 months 12 days
Expected dividend yield	0%	0%

Stock Based Compensation - Summ

Stock Based Compensation - Summarizes Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	$ 2,846	$ 2,333	$ 9,969	$ 7,234
Subscription and Support Revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	132	157	385	501
Professional Services and Other Revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	76	113	334	299
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	378	408	2,035	1,261
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	1,015	583	2,857	2,082
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	1,245	1,072	4,109	3,091
Other expense (benefit) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	$ 0	$ 0	$ 249	$ 0

Stock Based Compensation - Su_2

Stock Based Compensation - Summary of Stock Option Activity (Detail) - Options Outstanding [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at December 31, 2021 | shares	1,681,477
Shares, Granted | shares	0
Shares, Exercised | shares	(22,650)
Shares, Cancelled | shares	(196,291)
Shares, Outstanding at September 30, 2022 | shares	1,462,536
Shares, Exercisable at September 30, 2022 | shares	1,316,567
Weighted-Average Exercise Price, Outstanding at December 31, 2021 | $ / shares	$ 9.59
Weighted-Average Exercise Price, Granted | $ / shares	0
Weighted-Average Exercise Price, Exercised | $ / shares	6.25
Weighted-Average Exercise Price, Cancelled | $ / shares	11.32
Weighted-Average Exercise Price, Outstanding at September 30, 2022 | $ / shares	9.39
Weighted-Average Exercise Price, Exercisable at September 30, 2022 | $ / shares	$ 9.08
Weighted-Average Remaining Contractual Term, Outstanding	5 years 21 days
Weighted-Average Remaining Contractual Term, Exercisable at September 30, 2022	4 years 8 months 23 days
Aggregate Intrinsic Value, Exercised | $	$ 37,545	[1]
Aggregate Intrinsic Value, Outstanding at September 30, 2022 | $	75,429	[1]
Aggregate Intrinsic Value, Exercisable at September 30, 2022 | $	$ 75,429	[1]
[1] The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s common stock on September 30, 2022 of $ 6.30 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options.

Stock Based Compensation - Su_3

Stock Based Compensation - Summary of Stock Option Activity (Parenthetical) (Detail)	Sep. 30, 2022 $ / shares
Options Outstanding [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate Intrinsic Value, Estimated per share fair value of common stock	$ 6.30

Stock Based Compensation - Su_4

Stock Based Compensation - Summary of RSU Activity (Detail) - RSUs [Member]	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested Shares, Beginning Balance | shares	3,936,892
Granted | shares	3,792,536
Vested and issued | shares	(573,704)
Cancelled | shares	(1,450,785)
Unvested Shares, Ending Balance | shares	5,704,939
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 11.50
Weighted Average Grant Date Fair Value, Granted | $ / shares	7.32
Weighted Average Grant Date Fair Value, Vested and issued | $ / shares	11.91
Weighted Average Grant Date Fair Value, Cancelled | $ / shares	10.87
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 8.84
Service Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested Shares, Beginning Balance | shares	2,915,720
Granted | shares	3,292,536
Vested and issued | shares	(573,704)
Cancelled | shares	(1,107,609)
Unvested Shares, Ending Balance | shares	4,526,943
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 11.66
Weighted Average Grant Date Fair Value, Granted | $ / shares	7.20
Weighted Average Grant Date Fair Value, Vested and issued | $ / shares	11.91
Weighted Average Grant Date Fair Value, Cancelled | $ / shares	10.20
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 8.74
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested Shares, Beginning Balance | shares	1,021,172
Granted | shares	500,000
Cancelled | shares	(343,176)
Unvested Shares, Ending Balance | shares	1,177,996
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 11.04
Weighted Average Grant Date Fair Value, Granted | $ / shares	8.11
Weighted Average Grant Date Fair Value, Cancelled | $ / shares	13.04
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 9.22

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Income Tax Disclosure [Abstract]
Valuation allowance, deferred tax asset increase (decrease), amount	$ 1

Debt - Additional Information (

Debt - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2022 USD ($)
Debt Instrument [Line Items]
Debt instrument term	If the outstanding principal during any month is at least $15.0 million, the Company must also maintain a minimum net income threshold based on non-GAAP operating measures.
Line of Credit maturity date	Dec. 28, 2023
Secured Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit, agreement start date	Dec. 28, 2020
Line of credit maximum borrowing capacity	$ 30,000,000
Percentage points added to prime rate or LIBOR	4%
Borrowings outstanding	$ 0
Minimum [Member]
Debt Instrument [Line Items]
Minimum outstanding principal threshold limit	$ 15,000,000
Minimum [Member] | Secured Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Percentage points added to prime rate or LIBOR	225%

Segment Information - Total Rev

Segment Information - Total Revenue to Unaffiliated Customers by Geographic Area, Based on Location of Customer (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 53,944	$ 52,163	$ 161,770	$ 158,452
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	29,864	29,420	89,344	89,204
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	8,847	9,689	28,080	28,159
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	4,842	6,185	17,180	19,263
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	10,312	6,746	26,808	21,421
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 79	$ 123	$ 358	$ 405

Segment Information - Additiona

Segment Information - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from customers	$ 53,944	$ 52,163	$ 161,770	$ 158,452
Revenue percentage from other country to the company's total revenue	10%	10%	10%	10%
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from customers	$ 28,200	$ 27,600	$ 84,100	$ 83,600

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - USD ($)		3 Months Ended		9 Months Ended
	Feb. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Subsequent Event [Line Items]
Business combination acquisition related costs			$ 45,000	$ 747,000	$ 300,000
Common Stock [Member]
Subsequent Event [Line Items]
Common stock ,Value		$ 0	$ 0	1,000	$ 0
Wicket Acquisition [Member]
Subsequent Event [Line Items]
Cash	$ 13,200,000
Held back for secure payment of claims	$ 1,800,000
cash consideration paid				100,000
Percentage Of Outstanding Shares	100%
Wicket Acquisition [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Common stock ,Shares	212,507
Common stock ,Value	$ 2,000,000
Wicket Labs, Inc [Member]
Subsequent Event [Line Items]
Business combination acquisition related costs		$ 0		$ 700,000

Business Combinations - Schedul

Business Combinations - Schedule of Total Purchase Price (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 74,859	$ 60,902
Wicket Acquisition [Member]
Business Acquisition [Line Items]
Cash	53
Accounts receivable and other assets	782
Identifiable intangible assets	4,382
Goodwill	13,957
Deferred revenue	(1,033)
Deferred tax liabilities	(1,009)
Other liabilities	(95)
Total estimated purchase price	$ 17,037

Business Combinations - Sched_2

Business Combinations - Schedule of Identifiable Intangible Assets Acquired and Their respective Useful Lives (Details 1) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Total	$ 4,382
Developed Technology Rights [Member]
Amount	$ 4,200
Useful Life	6 years
Customer Relationships [Member]
Amount	$ 182
Useful Life	5 years

Business Combinations - Sched_3

Business Combinations - Schedule of Estimated Remaining Amortization Expense (Details 2) $ in Thousands	Sep. 30, 2022 USD ($)
2022	$ 614
2023	736
2024	736
2025	736
2026	736
2027 and thereafter	824
Total	$ 4,382

Business Combinations - Sched_4

Business Combinations - Schedule of Changes in the Carrying Amount of Goodwill (Detail 3) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Business Combination Segment Allocation [Line Items]
Beginning balance	$ 60,902
Wicket acquisition	13,957
Ending balance	$ 74,859