Brightcove (BCOV) 10-Q 28 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 25, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	BCOV
Entity Registrant Name	BRIGHTCOVE INC
Entity Central Index Key	1,313,275
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		33,068,860

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 30,194	$ 27,637
Accounts receivable, net of allowance of $211 and $332 at June 30, 2016 and December 31, 2015, respectively	18,869	21,213
Prepaid expenses	4,292	3,320
Other current assets	1,550	1,259
Total current assets	54,905	53,429
Property and equipment, net	9,362	8,689
Intangible assets, net	12,537	13,786
Goodwill	50,776	50,776
Deferred tax asset	82	63
Restricted cash, net of current portion	201	201
Other assets	980	724
Total assets	128,843	127,668
Current liabilities:
Accounts payable	4,883	3,302
Accrued expenses	11,301	12,849
Capital lease liability	633	850
Equipment financing	301
Deferred revenue	32,253	29,836
Total current liabilities	49,371	46,837
Deferred revenue, net of current portion	90	95
Other liabilities	2,299	2,601
Total liabilities	51,760	49,533
Commitments and contingencies (Note 9)
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; 32,994,399 and 32,810,631 shares issued at June 30, 2016 and December 31, 2015, respectively	33	33
Additional paid-in capital	223,180	220,458
Treasury stock, at cost; 135,000 shares	(871)	(871)
Accumulated other comprehensive loss	(657)	(888)
Accumulated deficit	(144,602)	(140,597)
Total stockholders' equity	77,083	78,135
Total liabilities and stockholders' equity	$ 128,843	$ 127,668

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 211	$ 332
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	32,994,399	32,810,631
Treasury stock, shares	135,000	135,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue:
Subscription and support revenue	$ 35,080	$ 31,917	$ 69,733	$ 63,728
Professional services and other revenue	1,880	931	3,519	2,005
Total revenue	36,960	32,848	73,252	65,733
Cost of revenue:
Cost of subscription and support revenue	11,675	10,357	23,350	20,703
Cost of professional services and other revenue	1,778	1,201	3,367	2,447
Total cost of revenue	13,453	11,558	26,717	23,150
Gross profit	23,507	21,290	46,535	42,583
Operating expenses:
Research and development	7,255	7,267	14,681	15,087
Sales and marketing	13,976	11,903	26,511	22,742
General and administrative	4,487	5,209	9,064	10,370
Merger-related		62	21	76
Total operating expenses	25,718	24,441	50,277	48,275
Loss from operations	(2,211)	(3,151)	(3,742)	(5,692)
Other expense, net	(91)	(429)	(122)	(653)
Loss before income taxes	(2,302)	(3,580)	(3,864)	(6,345)
Provision for income taxes	96	66	141	132
Net loss	$ (2,398)	$ (3,646)	$ (4,005)	$ (6,477)
Net loss per share - basic and diluted	$ (0.07)	$ (0.11)	$ (0.12)	$ (0.20)
Weighted-average number of common shares used in computing net loss per share	32,794,274	32,548,123	32,759,561	32,522,049
Cost of Subscription and Support Revenue [Member]
Stock-based compensation included in above line items:
Stock-based compensation	$ 68	$ 51	$ 110	$ 71
Amortization of acquired intangible assets included in above line items:
Amortization of acquired intangible assets	508	508	1,016	1,015
Cost of Professional Services and Other Revenue [Member]
Stock-based compensation included in above line items:
Stock-based compensation	32	19	89	52
Research and Development [Member]
Stock-based compensation included in above line items:
Stock-based compensation	181	226	570	660
Amortization of acquired intangible assets included in above line items:
Amortization of acquired intangible assets	32	31	63	63
Sales and Marketing [Member]
Stock-based compensation included in above line items:
Stock-based compensation	497	463	979	921
Amortization of acquired intangible assets included in above line items:
Amortization of acquired intangible assets	244	250	470	501
General and Administrative [Member]
Stock-based compensation included in above line items:
Stock-based compensation	$ 347	$ 577	$ 836	$ 1,085

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,398)	$ (3,646)	$ (4,005)	$ (6,477)
Other comprehensive (loss) income:
Foreign currency translation adjustments	(90)	(8)	(231)	46
Comprehensive loss	$ (2,488)	$ (3,654)	$ (4,236)	$ (6,431)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities
Net loss	$ (4,005)	$ (6,477)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	3,985	4,802
Stock-based compensation	2,584	2,789
Provision for reserves on accounts receivable	165	167
Loss on disposal of equipment		44
Changes in assets and liabilities:
Accounts receivable	2,364	2,035
Prepaid expenses and other current assets	(1,647)	(878)
Other assets	(231)	(530)
Accounts payable	881	1,332
Accrued expenses	(1,067)	(2,127)
Deferred revenue	1,980	(726)
Net cash provided by operating activities	5,009	431
Investing activities
Cash paid for purchase of intangible asset	(300)
Purchases of property and equipment, net of returns	(1,026)	(2,441)
Capitalized internal-use software costs	(1,677)	(336)
Net cash used in investing activities	(3,003)	(2,777)
Financing activities
Proceeds from exercise of stock options	188	58
Payments of withholding tax on RSU vesting	(108)
Proceeds from equipment financing	604	1,704
Payments on equipment financing	(122)	(404)
Payments under capital lease obligation	(461)	(627)
Net cash provided by financing activities	101	731
Effect of exchange rate changes on cash	450	(63)
Net increase (decrease) in cash and cash equivalents	2,557	(1,678)
Cash and cash equivalents at beginning of period	27,637	22,916
Cash and cash equivalents at end of period	$ 30,194	21,238
Supplemental disclosure of non-cash financing activities
Purchase of equipment and support under capital lease		$ 746

Business Description and Basis

Business Description and Basis of Presentation	6 Months Ended
	Jun. 30, 2016
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. At June 30, 2016, the Company had nine wholly-owned subsidiaries: Brightcove UK Ltd, Brightcove Singapore Pte. Ltd., Brightcove Korea, Brightcove Australia Pty Ltd, Brightcove Holdings, Inc., Brightcove Kabushiki Kaisha (Brightcove KK), Zencoder Inc. (Zencoder), Brightcove FZ-LLC, and Cacti Acquisition LLC. On March 10, 2016, the Company purchased an intangible asset for $300 plus a contingent amount of up to an additional $250 to be determined on the 90 th Basis of Presentation The accompanying interim condensed consolidated financial statements are unaudited. These condensed consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and related notes, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations, contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. 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, 2015 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 for the three and six months ended June 30, 2016 and 2015. These interim periods are not necessarily indicative of the results to be expected for any other interim period or the full year. The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence for certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated as required. The Company has evaluated all subsequent events and determined that there are no material recognized or unrecognized subsequent events requiring disclosure, other than those disclosed in this Report on Form 10-Q. The accompanying condensed consolidated financial statements reflect the application of certain significant accounting policies as described below and elsewhere in these notes to the condensed consolidated financial statements. As of June 30, 2016, the Company’s significant accounting policies and estimates, which are detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, have not changed.

Concentration of Credit Risk

Concentration of Credit Risk	6 Months Ended
	Jun. 30, 2016
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	2. Concentration of Credit Risk The Company has no significant off-balance sheet risk, such as foreign exchange contracts, option contracts or other foreign hedging arrangements. Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and trade accounts receivable. The Company maintains its cash and cash equivalents principally with accredited financial institutions of high credit standing. Although the Company deposits its cash with multiple financial institutions, its deposits, at times, may exceed federally insured limits. The Company routinely assesses the creditworthiness of its customers. The Company generally has not experienced any material losses related to receivables from individual customers, or groups of customers. The Company does not require collateral. Due to these factors, no additional credit risk beyond amounts provided for collection losses is believed by management to be probable in the Company’s accounts receivable. At June 30, 2016 and December 31, 2015, no individual customer accounted for 10% or more of net accounts receivable. For the three and six months ended June 30, 2016 and 2015, no individual customer accounted for 10% or more of total revenue.

Concentration of Other Risks

Concentration of Other Risks	6 Months Ended
	Jun. 30, 2016
Text Block [Abstract]
Concentration of Other Risks	3. Concentration of Other Risks The Company is dependent on certain content delivery network providers who provide digital media delivery functionality enabling the Company’s on-demand application service to function as intended for the Company’s customers and ultimate end-users. The disruption of these services could have a material adverse effect on the Company’s business, financial position, and results of operations.

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2016
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	4. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. Management determines the appropriate classification of investments at the time of purchase, and re-evaluates such determination at each balance sheet date. The Company did not have any short-term or long-term investments at June 30, 2016 or December 31, 2015. Cash and cash equivalents primarily consist of cash on deposit with banks and amounts held in interest-bearing money market accounts. Cash equivalents are carried at cost, which approximates their fair market value. Cash and cash equivalents as of June 30, 2016 consist of the following: June 30, 2016 Description Contracted Maturity Amortized Cost Fair Market Value Balance Per Balance Sheet Cash Demand $ 20,596 $ 20,596 $ 20,596 Money market funds Demand 9,598 9,598 9,598 Total cash and cash equivalents $ 30,194 $ 30,194 $ 30,194 Cash and cash equivalents as of December 31, 2015 consist of the following: December 31, 2015 Description Contracted Maturity Amortized Cost Fair Market Value Balance Per Balance Sheet Cash Demand $ 18,057 $ 18,057 $ 18,057 Money market funds Demand 9,580 9,580 9,580 Total cash and cash equivalents $ 27,637 $ 27,637 $ 27,637

Net Loss per Share

Net Loss per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Net Loss per Share	5. Net Loss per Share The following potentially dilutive common stock equivalent shares have been excluded from the computation of weighted-average shares outstanding as their effect would have been anti-dilutive (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Options outstanding 4,525 4,113 4,554 4,108 Restricted stock units outstanding 1,552 934 1,530 925 Warrants 28 28 28 28

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	6. Fair Value of Financial Instruments The following tables set forth the Company’s financial instruments carried at fair value using the lowest level of input as of June 30, 2016 and December 31, 2015: June 30, 2016 Quoted Prices in Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Money market funds $ 9,598 $ — $ — $ 9,598 Restricted cash — 201 — 201 Total assets $ 9,598 $ 201 $ — $ 9,799 December 31, 2015 Quoted Prices in Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Money market funds $ 9,580 $ — $ — $ 9,580 Restricted cash — 201 — 201 Total assets $ 9,580 $ 201 $ — $ 9,781

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	7. Stock-based Compensation The fair value of stock options granted was estimated at the date of grant using the following weighted-average assumptions: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Expected life in years 5.7 6.1 6.0 6.2 Risk-free interest rate 1.44 % 1.81 % 1.53 % 1.82 % Volatility 45 % 46 % 45 % 48 % Dividend yield — — — — Weighted-average fair value of stock options granted $ 2.64 $ 3.28 $ 2.66 $ 3.66 The Company recorded stock-based compensation expense of $1,125 and $1,336 for the three months ended June 30, 2016 and 2015, respectively, and $2,584 and $2,789 for the six months ended June 30, 2016 and 2015, respectively. As of June 30, 2016, there was $9,842 of unrecognized stock-based compensation expense related to stock-based awards that is expected to be recognized over a weighted-average period of 2.51 years. The following is a summary of the status of the Company’s stock options as of June 30, 2016 and the stock option activity during the six months ended June 30, 2016. Number of Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (In Years) Aggregate Intrinsic Value (1) Outstanding at December 31, 2015 4,622,886 $ 6.63 Granted 172,802 5.99 Exercised (83,048 ) 2.26 $ 363 Canceled (332,484 ) 8.74 Outstanding at June 30, 2016 4,380,156 $ 6.53 6.55 $ 12,036 Exercisable at June 30, 2016 2,303,494 $ 6.12 4.62 $ 7,711 Vested or expected to vest at June 30, 2016 (2) 3,908,182 $ 6.50 6.27 $ 10,993 (1) The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s common stock on June 30, 2016 of $8.80 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options. (2) This represents the number of vested options as of June 30, 2016 plus the number of unvested options expected to vest as of June 30, 2016 based on the unvested options outstanding at June 30, 2016 adjusted for an estimated forfeiture rate. The following table summarizes the restricted stock unit activity during the six months ended June 30, 2016: Shares Weighted Average Grant Date Fair Value Unvested by December 31, 2015 1,503,814 $ 6.69 Granted 243,922 5.95 Vested and issued (100,720 ) 8.75 Canceled (153,276 ) 7.73 Unvested by June 30, 2016 1,493,740 $ 5.75

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes For the three months ended June 30, 2016 and 2015, the Company recorded income tax expense of $96 and $66, respectively. For the six months ended June 30, 2016 and 2015 the Company recorded income tax expense of $141 and $132, respectively. The income tax expense relates principally to the Company’s foreign operations. The Company has evaluated the positive and negative evidence bearing upon the realizability of its U.S. net deferred tax assets. As required by the provisions of Accounting Standards Codification (ASC) 740, Income Taxes

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. 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. On August 27, 2012, a complaint was filed by Blue Spike, LLC naming the Company in a patent infringement case (Blue Spike, LLC v. Audible Magic Corporation, et al., United States District Court for the Eastern District of Texas). The complaint alleges that the Company has infringed U.S. Patent No. 7,346,472 with a listed issue date of March 18, 2008, entitled “Method and Device for Monitoring and Analyzing Signals,” U.S. Patent No. 7,660,700 with a listed issue date of February 9, 2010, entitled “Method and Device for Monitoring and Analyzing Signals,” U.S. Patent No. 7,949,494 with a listed issue date of May 24, 2011, entitled “Method and Device for Monitoring and Analyzing Signals” and U.S. Patent No. 8,214,175 with a listed issue date of July 3, 2012, entitled “Method and Device for Monitoring and Analyzing Signals.” The complaint seeks an injunction enjoining infringement, damages and pre- and post-judgment costs and interest. The Company answered and filed counterclaims against Blue Spike on December 3, 2012. The Company amended its answer and counterclaims on July 15, 2013. This complaint is subject to indemnification by one of the Company’s vendors. On July 12, 2016, the complaint against Brightcove was dismissed in its entirety, with prejudice. Brightcove did not incur any loss in connection with this matter. On July 8, 2016, a complaint was filed by Brand Technologies, Inc. naming the Company, along with several others, as a defendant in a case alleging copyright infringement, violations of the Lanham Act, unfair competition and related claims (Brand Technologies, Inc. v. Cox Enterprises, Inc., et al., United States District Court for the Central District of California). The complaint alleges that Cox Media Group (CMG) engaged in the unlicensed provision of copyrighted videos owned by the plaintiff on CMG websites by using a Brightcove technology. The complaint seeks actual and statutory damages, costs and injunctive relief. The Company has not yet answered the complaint or otherwise filed a responsive pleading. The Company cannot yet determine whether it is probable that a loss will be incurred in connection with this complaint, nor can the Company reasonably estimate the potential loss, if any. 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 claim 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 June 30, 2016, 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	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	10. Debt On November 19, 2015, the Company entered into an amended and restated loan and security agreement with a lender (the “Loan Agreement”) providing for up to a $20.0 million asset based line of credit (the “Line of Credit”). Under the Line of Credit, the Company can borrow up to $20.0 million. Borrowings under the Line of Credit are secured by substantially all of the Company’s assets, excluding our intellectual property. Outstanding amounts under the Line of Credit accrue interest at a rate equal to the prime rate or the LIBOR rate plus 2.5%. 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 lender 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 Company was in compliance with all covenants under the Line of Credit as of June 30, 2016. On December 31, 2015, the Company entered into an equipment financing agreement with a lender (the “December 2015 Equipment Financing Agreement”) to finance the purchase of $604 in computer equipment. In February 2016, the Company drew down $604 under the December 2015 Equipment Financing Agreement, and the liability was recorded at fair value using a market interest rate. The Company is repaying its obligation over a two year period through January 2018, and the amount outstanding was $482 as of June 30, 2016.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment Information	11. 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 Six Months Ended 2016 2015 2016 2015 Revenue: North America $ 22,627 $ 21,070 $ 45,667 $ 41,518 Europe 6,354 6,456 12,431 13,186 Japan 3,738 1,986 7,204 4,045 Asia Pacific 3,960 2,907 7,359 6,109 Other 281 429 591 875 Total revenue $ 36,960 $ 32,848 $ 73,252 $ 65,733 North America is comprised of revenue from the United States, Canada and Mexico. Revenue from customers located in the United States was $21,160 and $19,743 during the three months ended June 30, 2016 and 2015, respectively, and $30,430 and $38,750 during the six months ended June 30, 2016 and 2015, respectively. During the three and six months ended June 30, 2016 and 2015, no other country contributed more than 10% of the Company’s total revenue. As of June 30, 2016 and December 31, 2015, property and equipment at locations outside the U.S. was not material.

Recently Issued and Adopted Acc

Recently Issued and Adopted Accounting Standards	6 Months Ended
	Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract]
Recently Issued and Adopted Accounting Standards	12. Recently Issued and Adopted Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board jointly issued Accounting Standards Update (ASU) No. 2014-9, Revenue from Contracts with Customers In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016 the FASB issued ASU 2016-02, Leases (Topic 842), Amendments to the FASB Accounting Standards Codification In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40), Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015, the FASB, issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810), Amendments to the Consolidation Analysis

Business Description and Basi19

Business Description and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2016
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. At June 30, 2016, the Company had nine wholly-owned subsidiaries: Brightcove UK Ltd, Brightcove Singapore Pte. Ltd., Brightcove Korea, Brightcove Australia Pty Ltd, Brightcove Holdings, Inc., Brightcove Kabushiki Kaisha (Brightcove KK), Zencoder Inc. (Zencoder), Brightcove FZ-LLC, and Cacti Acquisition LLC. On March 10, 2016, the Company purchased an intangible asset for $300 plus a contingent amount of up to an additional $250 to be determined on the 90 th
Basis of Presentation	Basis of Presentation The accompanying interim condensed consolidated financial statements are unaudited. These condensed consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and related notes, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations, contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. 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, 2015 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 for the three and six months ended June 30, 2016 and 2015. These interim periods are not necessarily indicative of the results to be expected for any other interim period or the full year. The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence for certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated as required. The Company has evaluated all subsequent events and determined that there are no material recognized or unrecognized subsequent events requiring disclosure, other than those disclosed in this Report on Form 10-Q. The accompanying condensed consolidated financial statements reflect the application of certain significant accounting policies as described below and elsewhere in these notes to the condensed consolidated financial statements. As of June 30, 2016, the Company’s significant accounting policies and estimates, which are detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, have not changed.

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	6 Months Ended
	Jun. 30, 2016
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Cash and cash equivalents as of June 30, 2016 consist of the following: June 30, 2016 Description Contracted Maturity Amortized Cost Fair Market Value Balance Per Balance Sheet Cash Demand $ 20,596 $ 20,596 $ 20,596 Money market funds Demand 9,598 9,598 9,598 Total cash and cash equivalents $ 30,194 $ 30,194 $ 30,194 Cash and cash equivalents as of December 31, 2015 consist of the following: December 31, 2015 Description Contracted Maturity Amortized Cost Fair Market Value Balance Per Balance Sheet Cash Demand $ 18,057 $ 18,057 $ 18,057 Money market funds Demand 9,580 9,580 9,580 Total cash and cash equivalents $ 27,637 $ 27,637 $ 27,637

Net Loss per Share (Tables)

Net Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Potentially Dilutive Common Stock Equivalent Shares Excluded from Computation of Weighted-Average Shares Outstanding	The following potentially dilutive common stock equivalent shares have been excluded from the computation of weighted-average shares outstanding as their effect would have been anti-dilutive (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Options outstanding 4,525 4,113 4,554 4,108 Restricted stock units outstanding 1,552 934 1,530 925 Warrants 28 28 28 28

Fair Value of Financial Instr22

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Company's Financial Instruments Carried at Fair Value Using Lowest Level of Input	The following tables set forth the Company’s financial instruments carried at fair value using the lowest level of input as of June 30, 2016 and December 31, 2015: June 30, 2016 Quoted Prices in Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Money market funds $ 9,598 $ — $ — $ 9,598 Restricted cash — 201 — 201 Total assets $ 9,598 $ 201 $ — $ 9,799 December 31, 2015 Quoted Prices in Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Money market funds $ 9,580 $ — $ — $ 9,580 Restricted cash — 201 — 201 Total assets $ 9,580 $ 201 $ — $ 9,781

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted-Average Assumptions	The fair value of stock options granted was estimated at the date of grant using the following weighted-average assumptions: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Expected life in years 5.7 6.1 6.0 6.2 Risk-free interest rate 1.44 % 1.81 % 1.53 % 1.82 % Volatility 45 % 46 % 45 % 48 % Dividend yield — — — — Weighted-average fair value of stock options granted $ 2.64 $ 3.28 $ 2.66 $ 3.66
Summary of Status of Company's Stock Option Activity	The following is a summary of the status of the Company’s stock options as of June 30, 2016 and the stock option activity during the six months ended June 30, 2016. Number of Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (In Years) Aggregate Intrinsic Value (1) Outstanding at December 31, 2015 4,622,886 $ 6.63 Granted 172,802 5.99 Exercised (83,048 ) 2.26 $ 363 Canceled (332,484 ) 8.74 Outstanding at June 30, 2016 4,380,156 $ 6.53 6.55 $ 12,036 Exercisable at June 30, 2016 2,303,494 $ 6.12 4.62 $ 7,711 Vested or expected to vest at June 30, 2016 (2) 3,908,182 $ 6.50 6.27 $ 10,993 (1) The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s common stock on June 30, 2016 of $8.80 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options. (2) This represents the number of vested options as of June 30, 2016 plus the number of unvested options expected to vest as of June 30, 2016 based on the unvested options outstanding at June 30, 2016 adjusted for an estimated forfeiture rate.
Restricted Stock Units Activity	The following table summarizes the restricted stock unit activity during the six months ended June 30, 2016: Shares Weighted Average Grant Date Fair Value Unvested by December 31, 2015 1,503,814 $ 6.69 Granted 243,922 5.95 Vested and issued (100,720 ) 8.75 Canceled (153,276 ) 7.73 Unvested by June 30, 2016 1,493,740 $ 5.75

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Total Revenue from 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 Six Months Ended 2016 2015 2016 2015 Revenue: North America $ 22,627 $ 21,070 $ 45,667 $ 41,518 Europe 6,354 6,456 12,431 13,186 Japan 3,738 1,986 7,204 4,045 Asia Pacific 3,960 2,907 7,359 6,109 Other 281 429 591 875 Total revenue $ 36,960 $ 32,848 $ 73,252 $ 65,733

Business Description and Basi25

Business Description and Basis of Presentation - Additional Information (Detail) $ in Thousands	Mar. 10, 2016USD ($)	Jun. 30, 2016USD ($)Subsidiaries
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of wholly-owned subsidiaries | Subsidiaries		9
Purchase of intangible assets	$ 300
Purchase of intangible assets, contingent amount		$ 250
Useful life		3 years
Net carrying value of the intangible asset		$ 269

Concentration of Credit Risk -

Concentration of Credit Risk - Additional Information (Detail) - Customer	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Risks and Uncertainties [Abstract]
Number of customers accounted for more than 10% of total revenue	0	0
Number of customers accounted for more than 10% of net accounts receivable	0		0

Cash and Cash Equivalents - Sch

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investment Holdings [Line Items]
Amortized Cost	$ 30,194	$ 27,637
Fair Market Value	30,194	27,637
Balance Per Balance Sheet	30,194	27,637
Cash [Member]
Investment Holdings [Line Items]
Amortized Cost	20,596	18,057
Fair Market Value	20,596	18,057
Balance Per Balance Sheet	20,596	18,057
Money Market Funds [Member]
Investment Holdings [Line Items]
Amortized Cost	9,598	9,580
Fair Market Value	9,598	9,580
Balance Per Balance Sheet	$ 9,598	$ 9,580

Net Loss per Share - Potentiall

Net Loss per Share - Potentially Dilutive Common Stock Equivalent Shares Excluded from Computation of Weighted-Average Shares Outstanding (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
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	4,525	4,113	4,554	4,108
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	1,552	934	1,530	925
Warrants [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	28	28	28	28

Fair Value of Financial Instr29

Fair Value of Financial Instruments - Company's Financial Instruments Carried at Fair Value Using Lowest Level of Input (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 9,598	$ 9,580
Restricted cash	201	201
Total assets	9,799	9,781
Quoted Prices in Active Markets for Identical Items (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	9,598	9,580
Total assets	9,598	9,580
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	201	201
Total assets	$ 201	$ 201

Stock-based Compensation - Weig

Stock-based Compensation - Weighted Average Assumptions (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected life in years	5 years 8 months 12 days	6 years 1 month 6 days	6 years	6 years 2 months 12 days
Risk-free interest rate	1.44%	1.81%	1.53%	1.82%
Volatility	45.00%	46.00%	45.00%	48.00%
Dividend yield	0.00%	0.00%	0.00%	0.00%
Weighted-average fair value of stock options granted	$ 2.64	$ 3.28	$ 2.66	$ 3.66

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Unrecognized stock-based compensation expense	$ 9,842		$ 9,842
Weighted average period			2 years 6 months 4 days
Stock based compensation expense	$ 1,125	$ 1,336	$ 2,584	$ 2,789

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Stock Option Activity (Detail) - Options outstanding [Member] - Stock Compensation Plan [Member] $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at December 31, 2015 | shares	4,622,886
Shares, Granted | shares	172,802
Shares, Exercised | shares	(83,048)
Shares, Canceled | shares	(332,484)
Shares, Outstanding at June 30, 2016 | shares	4,380,156
Shares, Exercisable at June 30, 2016 | shares	2,303,494
Shares, Vested or expected to vest at June 30, 2016 | shares	3,908,182
Weighted-Average Exercise Price, Outstanding at December 31, 2015 | $ / shares	$ 6.63
Weighted-Average Exercise Price, Granted | $ / shares	5.99
Weighted-Average Exercise Price, Exercised | $ / shares	2.26
Weighted-Average Exercise Price, Canceled | $ / shares	8.74
Weighted-Average Exercise Price, Outstanding at June 30, 2016 | $ / shares	6.53
Weighted-Average Exercise Price, Exercisable at June 30, 2016 | $ / shares	6.12
Weighted-Average Exercise Price, Vested or expected to vest at June 30, 2016 | $ / shares	$ 6.50
Weighted-Average Remaining Contractual Term, Outstanding at June 30, 2016	6 years 6 months 18 days
Weighted-Average Remaining Contractual Term, Exercisable at June 30, 2016	4 years 7 months 13 days
Weighted-Average Remaining Contractual Term, Vested or expected to vest at June 30, 2016	6 years 3 months 7 days
Aggregate Intrinsic Value, Exercised | $	$ 363
Aggregate Intrinsic Value, Outstanding at June 30, 2016 | $	12,036
Aggregate Intrinsic Value, Exercisable at June 30, 2016 | $	7,711
Aggregate Intrinsic Value, Vested or expected to vest at June 30, 2016 | $	$ 10,993

Stock-based Compensation - Su33

Stock-based Compensation - Summary of Stock Option Activity (Parenthetical) (Detail)	Jun. 30, 2016$ / shares
Options outstanding [Member] | Stock Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate Intrinsic Value, Estimated per share fair value of common stock	$ 8.80

Stock-based Compensation - Su34

Stock-based Compensation - Summary of RSU Activity (Detail) - RSUs [Member]	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested Shares, Beginning Balance | shares	1,503,814
Granted | shares	243,922
Vested and issued | shares	(100,720)
Canceled | shares	(153,276)
Unvested Shares, Ending Balance | shares	1,493,740
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 6.69
Weighted Average Grant Date Fair Value, Granted | $ / shares	5.95
Weighted Average Grant Date Fair Value, Vested and issued | $ / shares	8.75
Weighted Average Grant Date Fair Value, Canceled | $ / shares	7.73
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 5.75

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income tax expense	$ 96	$ 66	$ 141	$ 132

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	1 Months Ended	6 Months Ended
	Feb. 29, 2016	Jun. 30, 2016	Jun. 30, 2015
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.
Repayment of equipment financing		$ 122,000	$ 404,000
December Equipment Financing Agreement [Member]
Debt Instrument [Line Items]
Debt issuance date		Dec. 31, 2015
Computer equipment and support purchased		$ 604,000
Debt amount outstanding		$ 482,000
Repayment of equipment financing	$ 604,000
Repayment period of obligation under the agreement		2 years
Secured Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit, agreement start date		Nov. 19, 2015
Line of credit maximum borrowing capacity		$ 20,000,000
Percentage points added to prime rate or LIBOR		2.50%
Minimum [Member]
Debt Instrument [Line Items]
Minimum outstanding principal threshold limit		$ 15,000,000

Segment Information - Total Rev

Segment Information - Total Revenue from Unaffiliated Customers by Geographic Area, Based on Location of Customer (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 36,960	$ 32,848	$ 73,252	$ 65,733
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	22,627	21,070	45,667	41,518
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	6,354	6,456	12,431	13,186
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	3,738	1,986	7,204	4,045
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	3,960	2,907	7,359	6,109
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 281	$ 429	$ 591	$ 875

Segment Information - Additiona

Segment Information - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from customers	$ 36,960	$ 32,848	$ 73,252	$ 65,733
Revenue percentage from other country to the company's total revenue	10.00%	10.00%	10.00%	10.00%
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from customers	$ 21,160	$ 19,743	$ 30,430	$ 38,750