BCOV - Earnings call transcript Q1 2020

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Operator

Thank you for standing by. This is the conference operator. Welcome to the Brightcove First Quarter 2020 Earnings Call. [Operator Instructions]

I would now like to turn the conference over to Mr. Denyeau. Brian sir. ahead, go Please

Brian Denyeau

on afternoon Chief and call. in quarter earnings and With Brightcove's press Brightcove's Jeff Chief Executive Officer. welcome we will to Officer; me close. Today, market announced Noreck, issued first call discuss are release Ray, Brightcove's XXXX Rob after Good the Financial the our results

our Harbor Private are to may be that Litigation the we expected quarter made to to existing of statements During pursuant business upsell as and XXXX, XXXX, position strategy, maintain to well call, the second free will guidance on customers concerning ability to as our profitability make provisions the Act of Reform position, cash our Safe forward-looking Securities customers. growth for flow, statements and expand of fiscal our acquire related ability including and positive considered to new our the and go-to-market our ability financial our execute leadership our

identified uncertainties be only as as of not statements views our may or subject we reflect future today be expectations. any subsequent statements are and as reflected views indications upcoming of anticipate, with results to differ cause could of variety expectations. as risks statements These upon actual of date. should similar representing Forward-looking and we These expect, to that such words from our materially

on business and as operations our pandemic well impact COVID-XX the conditions. market financial economic of on the effect general, the Including as

on and For updated affect refer those most SEC to of other Annual recently our a risks please Form results, as could our contained actual discussion XX-K material our that Report important other by filings. and in factors filed

reconciliation financial is release be issued call, versus our course refer found can we the currently at to on after available a certain of press measures. non-GAAP showing will close market which our results non-GAAP Also today, website GAAP on today's There schedule www.brightcove.com. during

financial results, a outlook will additional finish XXXX second operations our quarter with an the our the XXXX. in our details review today's update of call, our then our quarter summary of our of for agenda will Jeff as for review on well regarding terms provide In Rob strategy. of as results, first

over that, the call me turn Jeff. to With let

Jeff Ray

thanks And joining all for us Brian. today. of Thanks you to

last has changed crisis the outbreak call dramatically with world in The a since the due our economy. global significant earnings the health unprecedented deterioration and COVID-XX to

customer circumstances maintain efforts Our as safety global sales, generation customers. have and health and adapted ensure of needs. first customer demand our our help business to Brightcove align management home of team from is to our to each the employees success. our moved their our families proud quickly customers how priority the work continue to and in pulled enable has of and together employees, challenging support with We to at we I'm everyone incredibly

Today I of Recent on uncertain made you how have performance on the remainder year our highly our the the product and the will time. over have this investments our at years with believe from for recent platform to position consumers. well expertise combined video events we we plan, business during are dynamic demonstrated domain vital update approaching solid have enterprises progress the is and first we environment. strategic given Brightcove both that benefit and the quarter, We made deep

focused through are As on near-term the ahead, we is targeting. job the effectively a team, it opportunities manage significant leadership to long-term our challenges remaining while

$X.X of which guidance, the customer financial high first our a but driven guidance delivered below $X.X revenue of the for from first million our was XXXX which we Adjusted EBITDA our the XX% large range. results towards was end first $XX.X briefly to Turning will quarter quarter up by million, of We liquidation, million, discuss year-over-year, up in quarter. later.

and performance had media organizations we referenced, with and England several had sales with our enterprises in Dell strong global retention adoption Network Inc. including just I liquidation New from Brightcove targets. the leading of solid quarter products line Merck, Excluding We internal a Sports first and

particularly new offering fourth its in on quarter. built with our Brightcove OTT am performance success initial Beacon of that pleased I the the

Beacon a are yet We significant a way variety wider need for than more content viewers. up content from Consumers a not possibilities array providers who regional deliver exist experience now to providers ago. seeing to are looking OTT and wide that content before exciting for even a opening a interest video their in few Brightcove ever broadcasters years powerful of did simple compelling of

domain wins opportunity from Brightcove Media unmatched expertise Beacon marry quarter when the with available market easy we demonstrates Army. Brightcove use Network and include Akin's first and the compelling our to applications. success significant customer Beacon OneX

VOD. be a Brightcove with in acting launching Ghana. the channels Network will apps, Beacon, XX OneX as with live largest and TV some aggregator be of hours live five telcos Brightcove Media the apps of five streaming Android, agreement live content a will and In in TV in events. total, web, signed XXXX Ghana. across iOS, Brightcove company and X-year Android to of Beacon XX/X OneX Using Apple broadcasters

Akin's classes and at studio Army have in OTT based workouts January, two offer the Beyonce, of and instructors City is in Beckham. mobile by super a home will likes Army apps. soul former new New David trained York founded studio who Akin's through Oprah, offers out upscale of cycle group fitness Launched

scalability, the selected Akin's wants a to which Beacon, as Brightcove's will company for as with associated. launch and reliability Brightcove reputation be Brightcove new apps this Army brand company as The its well Using summer.

purpose-built They campaigns, but efficient and an video for We are make growing do in so of a easy, digital an seeing manner. marketers to need part their also interest marketing needs. integral that lack from to the tools good measurable have solutions in their are

utilize part make to digital it are for integral our to an We marketing campaigns tech to stack. their in invest and video continuing marketing solutions even Brightcove of easier marketing make

internal new with business communications our app of to these functions our and urgent needs. Both we line offerings help communication timely enterprise. and strategy, business across recently the support new purpose-built a Engage, In Brightcove customers address introduced market Continuum, continuity suite segment Brightcove

application third Engage have innovation we the of early new last purpose-built Brightcove seven example we introduced the progression is steady outlined year, the roadmap April in is Part Brightcove we Engage, to latest which have we product the months. of market. released launched the of in past the

and news rapidly With many time-consuming as Brightcove employee's engaged developer Engage such employees easily expensive working conditions, to branded mobile to organizations their experiences mobile able tutorials companywide when entire like At build securely time events on-demand have device or well can a to more keep business and utilize never without as halls, companies to been being quickly from workforce an live IT and as video and broadcast has internal informed and needing experiencing directly onboarding changing resources. important. home town

than of appreciation, are in customers more across updates examples its time crew use global Early to Brightcove planning Engage how real member share employees. Wendy's, include will XXX,XXX which

lifestyle as FEEL CONNECTION, instructors bicycles, a boarding and how classes. XX will new the fitness how to over FEEL CONNECTION the streamline use training studios classes to of across specializes the on brand, in Japanese-based on organization's and well large region. its group located as conduct exercise cycling team with of of hires

law to school law the from of experience, leap helping make lawyer. veteran XX-year a Barbri, student our the examinees And

help Brightcove professors the video students law BAR prepare will exam. We Engage for provide to based to those training students use who and the

and meet response solutions direct conduct productive adjust COVID-XX. all use Continuum when in Continuum remain Brightcove in they enables response to how suite virtually to is in to market Brightcove face-to-face. video business technologies work activity to released and need customers critical an that unable one employees, video partners to to their are We of organizations

Brightcove's stay our moving our strong reliability forward. to their to reputation in technology most Brightcove organizations video and connected for customers a importantly customers and ways video to critical which for to are Continuum looking brings businesses mission communities help central through thrive, trusted security, make video. is better scalability, us to partner keep that help serious use

live Another problem overall as an part its XX time, support days their need for community help hours live facing them of video disruptions is HD operations. the of engagement the they objectives. help and difficult many support through and customers as is of avoid and these it for XX communications adapt this to offering increased video COVID-XX Brightcove to impact to customers To

this launched up. organizations Organizations UBS video. the we through are Talkdesk, and stream to offer Francisco audiences County the live have signed San Maricopa and live Library. able over companies their including, Ballet reach Since like XX global of power And

from and also PLAY adapting innovating protect the streaming will global XXXX We're customers, this year. filled not Instead, TV, and employees our we content Boston in component to experience launch our new a go-to-market watch of COVID-XX due safety and video. with play efforts the and will world physical community, pandemic health of must broader the event have our in to our

will web and launch PLAY It Brightcove at will the available be Beacon PLAY engage globally on XX/X. TV TV cost in and is no on with and of built mobile variety content will devices May. ways a to be there

live pick on Netflix, guide of videos watch based area can videos to choose speakers a You similar from channel or or interest. programming your

content on to video and and for to people in basis updated be become turn interested TV again. will PLAY will All ongoing again a resource an trusted

of lot bringing viewers exciting across interest a to world. TV seeing content already are look video PLAY forward We the to in and

for renewals, town the some from would important and In quarter. quarterly for like I events. had customer and other halls, Dell and one heritage Brightcove to one highlight Dell Dell customer. conferences Inc., Dell Ooyala a Technologies two wins Technologies renewals for first now the quarter, first uses

and needs product across support Dell Inc. both uses Dell Technologies external Brightcove Inc. the Brightcove and to how and internal videos. supports to company. video videos, deliver With Dell

Video Merck video as its video. content strategic one expand customer Brightcove to Marketing of China, Merck advancements using pharmaceutical the dedicated Brightcove its use product to brands multiyear in in A sees Suite, a a of Brightcove to range as partner wholly world. account distributing the Enterprise, wide market of in Merck continues it is and largest Gallery uses

Brightcove and vendor. A a reputation to it's compelling Network, England Sports New new power strong NESN using from market need our of the NESN own chose is to apps. OTT because in its Brightcove win, previous move

help Our deal. scalability, reliability secure the to and reputation

increase into Nike videos. external to trust a In activities. for external it's in quarter, Brightcove renewal Brightcove's Nike's reliable with uses to significant infrastructure and the Nike stream in marketing past relationship due is video be its with Brightcove size. securely always deal renewed This increase video

we a great to of tremendous a is the Nike have great example team on want impact strategies. for. with brought of this win. the agreement example congratulate new and effort the the selling sales striving proactive talent sales are Brightcove our we expanded Our of positive to I It's

are performance new a face now beginning encouraging much the market our our our ahead, we of changing the ever in the products XXXX. of economy an market seen. that COVID-XX how quarter about unprecedented different of you reception would have is represents I like quickly and for validation we of than for are to for thinking to note we recognize the dynamics an strategy. the year. Looking that outline challenge first more I and all We would remainder compared us

we about provide demand From media offerings what signals employee enterprise perspective, continue from to to We now customer, will have to inbound and do so. can as inquiries customers the getting as we number in a our increase we market. to if seeing their been market evaluate view the video and from plan adjust are needs of quick are and warrant. Positively, react continue is perspective businesses. of we our an to needed to and conditions mixed This and

to challenging the our growth, completed teams well expected In the We high second quarter uncertainty receive. with level set begin with it of market and accelerate the is already to are possibly, as of believe close prospects business near-term, fortunate the these sales to make in our and engaging longer. up disruption levels to and am of enablement are have are more how pleased I the build-out organization. new the in we market in the to training

renewals. result market In the other are conditions. may and existing these own to addition, headwinds risk pandemic or significant customers pose And some media businesses, facing of some a certain headwinds content as in their

a late a perspective, From in into in learned going we example, that new liquidation. was Asia OTT have three March, HOOQ For provider priorities. we strategy

flow and to of of cash safety and the employees, business their ability The our families long-term maintaining our strategy. our well-being and against the our execute customers, protecting

conference natural due will cash lower experience events and as expenses virtual and cost format. move to our to protecting we lower expenses, like marketing entertainment we variable play Regarding annual a savings some flow, travel

As focused driving all we discussed improvements across that productivity remains categories. last on spending quarter, we true And are today.

needed ability to evaluate our initiatives. resources we Regarding spend our of as growth reallocate execute continually and to certain will fund areas

investment and identifying are opportunities. for areas enhancing the potential purpose-built applications Our capabilities focus of portfolio of our new

A the the across good of keeping address video customer team the applications role market. Overall, for vital of recently and I to purpose-built pandemic the human video that platform Brightcove. in into about and proud in remoteness the organization. developed opportunities focus power the brought shared needs feel it's I'm the we ahead of to connections important the have most continue

this marketing proud Combined situation our the and industry-leading and on of challenging strong position in clear out will innovation time. difficult other their we come and product confident to successful with teams, and sales this navigate Brightcove breakout team and drive fully our the ahead even side with supporting an aligned customers growth. I'm making stronger I'm on the and focus them

through the Rob? that me With call turn to over you the walk numbers. to let Rob

Rob Noreck

and Thank you, everyone. good Jeff afternoon

review my of COVID-XX will XXXX. with our workers response expressing of my of walk to with the a crisis. the our outlook helping extending are to And situation. will who current sympathy all and our finish this second thanks start I with short-term through begin quarter by quarter detailed first by I want then I the crisis for impacted the to world of deal frontline the those all to

HOOQ As adjusted gone million HOOQ our quarter. The in March reduced our and Jeff in EBITDA the $X.X liquidation. that late revenue by mentioned customer of learned we loss largest both into had

loss our and impact recurring In addition, backlog XX-month dollar had the customer meaningful a rate. on retention our

above which end revenue services high We our down of HOOQ’s was quarter $XX.X $X further was of Total March prior slightly range. through range tracking million, were late is professional support revenue insolvency. was in guidance the the learning to and million. our Breaking below first revenue $XX.X million revenue and subscription

X% of grew for backlog, the related the XX to the XX%. next that subscription related future committed increase backlog the which to HOOQ was XX-month performance organic million. define which $XXX.X we a $X.X backlog during was X% aggregate was This obligations million as Adjusting of year-over-year in revenue down amount months of written represents growth. quarter, existing

our Asia basis, On a XX% during a down of internationally. revenue and more generated during we Breaking generated XX% quarter. the America XX% of geographic revenue international Europe little in generated revenue quarter of and XX% and our Pacific North revenue, the Japan

basis. turn Let supplemental to me now on quarterly the metrics share we a

our low-to-mid quarter of which retention was is Our recurring the rate in first dollar range XX%, below target 'XXs.

recurring dollar rate Excluding the was impact of XX%. HOOQ, retention

our focus on processes retention on improving Our success positive having customer impact are business. a and our

was the which customer Our count of X,XXX at customers. end premium classified of the first as quarter were X,XXX

at customers, annualized ARPU our year-over-year customer was revenue. which up X% in our Looking entry excludes premium base, averaged level premium for revenue which our annualized per $X,XXX $XX,XXX, was pricing starter and our within customer

Looking was $XX $X.XX and at basis, our our on was loss share results gross loss was the a quarter. profit per operating $X.X million, GAAP million for

ago gross total to revenue a period margin of of non-GAAP margin quarter the our the a year the approximately Subscription XXXX. quarter gross $XX.X our support revenue to in margin in gross million represented first represented non-GAAP gross profit and and XX% results, generated quarter XX%. to the our in compared and Turning was million XX% $XX.X of XX% in compared a

the first quarter Non-GAAP from range the range in income our to high operations quarter. first for end quarter $X.X operations was first $X.X of in been period the impact of of to of the top $X.X year million million EBITDA in end compared we Without and the from the Adjusted $XX,XXX have the would guidance significantly. ago was HOOQ, at XXXX. million guidance our in income of non-GAAP quarter compared the

improvements outstanding. million reflects was and the on period. company. income compares share throughout net Our loss outstanding the per shares positive net a focus on based average shares the $X.XX for average weighted $X.XX our in driving share $XX.X Non-GAAP weighted per profitability year million $XX.X productivity impact performance to of This ago

and the with million. cash to quarter Turning we ended flow, sheet the and cash of $XX.X equivalents cash balance

During million down facility. existing million $XX our the revolving quarter, credit from we drew $XX

given adequately economic liquidity uncertain we While balance additional believed on the sheet, to situation. was prudent capitalized, our some we it are place

we expenditures was into free first generated After the million operations $XXX,XXX. account, negative million During quarter, in and internal-use capitalized taking in flow and flow capital software. cash cash from $X.X $X.X

three against of growth as the our COVID-XX strategy. flow for customers, As have well-being maintaining we navigate business safety to our crisis. employees, Jeff company, mentioned, families the cash priorities and and execute ability our we the The of the their our long-term protecting and

eliminating around the took accelerated in workforce a we in for actions pause the and immediate visibility we have quarter. in work organization fully moving this home of as the freezing from priorities These term travel in remainder current those a across the world, the for crisis mind, mid-March salaries year. With all remainder crisis and actions the several remote better included: short hiring to in the long-term substantial non-essential the of a year, all the implementing of impacts until travel

longer-term believe position We to and of rest to our by put to finishing execute continue like our providing an the now to on overall we approaching update actions strategy I'd our protecting then and business. guidance. us our the in are of customers finish XXXX and employees, thinking health while with these how that

the in make associated year. of difficult expected The the longer economic will at the of and pandemic COVID-XX potentially new related it high the uncertainty beginning impact level business and second to more the than to quarter close

introduce our existing also of base risk a will unanticipated. of was part level customer We that the

customer a diverse have portfolio. We

dropping in live include extreme However, crisis canceled, such as rising conditions. revenue industries segments viewership where OTT as are stress, is are and where by market retail. and costs the are certain directly and areas all such in impacted airlines events AVOD segments those current sporting These given sports, ad the models,

comment as reiterate earlier faster phase. near-term trends want targeted and I growing us we this believe segments the positions that demand are in as direct such to some communications. corporate market We of from environment the OTT, to uncertainty our core consumer, seeing challenges, good the presents Jeff's current customer begin to While

running models we crisis the stress our began, and numerous Since testing varying have been assumptions. with scenarios

uncertainty and the economic the the of a there Given crisis is any of of recovery, for year. wide of duration range the timing outcomes health the

I assign these is this a at to don't any realistic assumptions of way there probabilities time. believe to

we for As a guiding will expectations XXXX and be second the we are for result, quarter. only withdrawing year our full the

next We will full a outlook year call. providing earnings on reassess our

have if business evaluating To we We ran in take liquidity. warrant. are plans we have in continually to and clear, sufficient place the be further various actions circumstances the scenarios

For of the second quarter, we million are $X.X of targeting million professional $XX including $XX.X to services revenue. revenue million approximately

From $X.X $XXX,XXX weighted of adjusted expected net operating to a to be million to to between $X to per average $X.XX loss we $X.XX to in range outstanding. of perspective, is profitability a a income shares $XX.X expect EBITDA $XXX,XXX loss non-GAAP be a based a million. gain on be of Non-GAAP of share loss and million

progress summarize, breakout our growth reach to goals, profitability. strategic improved our and we made good initiatives on To a

the challenges with to unprecedented business. approach by that employees, the We responding posed strategic customers the are COVID-XX and our protects

We are of the confident growth plan future. are and executing to the ability situation work drive and our through current faster against focused on our in

ready will we questions. we take Q&A. are that, to With begin now Operator, your

Operator

Instructions] [Operator Please B. Lee question ahead. FBR. comes first Krowl The Riley go from with

Lee Krowl

a considered quarter? detail I just question, usage. to questions, the backdrop. taking macro relates as overages maybe just first with on my overall the quick in for you appreciate out Thanks things comment wanted Could housekeeping with it all to Great. and this start

Jeff Ray

about the higher million, forecast $X.X Yes, the Lee. than sure. $X in were a of quarter bit original little million. Overages Thanks,

down the rest brought guide for back $X.X the Going of for year, we've to million into the quarter. the those

Lee Krowl

similar relates as your then with remain And part guidance, And saw quarterly you anticipate you it. to elevated? there overages would assumption HOOQ quarter it second what liquidations for then any is or in of potential QX? the second Got to guidance, bankruptcies to

Jeff Ray

of both those. take I'll Yes.

usage little quarter, skis. where I in overage the overall the We're customers get million but contracts, given what are back for from certainly put there, conservative the increased we've and given into but of crisis, my don't of quarter-over-quarter. I for the depends the $X on is out seeing down the it guidance terms be overall as want a macro guidance number, environment, want million In to the the $X.X to

a bit think In of terms addressing economic I are downside we're any a to continue. that trends widening bit protection little give little that if second the question, range us more through there the

Lee Krowl

being Got positive one it. puts also then few And with a and but them, obviously HOOQ takes, of engagements. customer some

started You year emphasizing double the growth. really of bookings digit kind

in has HOOQ, is second in confidence see there near that could the double-digit half Now headwinds growth perhaps well renewals you term apps of perhaps uncertainty the bookings as that changed, still world as some that again. but around the

Jeff Ray

in tracking the We're came and We've backlog, market, We said, in not The team we they right around very saw point. training, about the the came got We the first world. we sales where we that the the we this people team good into the good as Yes, the very, things year. good together. leaders all feel very We've control, that bookings. got but obviously control the now going were about can place, can't discipline, metrics, quarter. we together is. really quoting sales feel to sales but right the

Lee Krowl

debuted And obviously you've it. me, significant question then Got from multiple launches. last product

what of or kind the As the any September. to of are least of rest you've other pipeline products last or it relates pipeline, release in is in year product there to the on tap focus, before since at to terms year-end launch

Jeff Ray

of we At good what this of than target about the for out put in we more many the lot we've and years a many, doing this. think innovation sweet feel we We've have that addressed spots markets point in time, done. pretty all there we've

to sales a it's to get out, the the to to marketing and this those up Now word up close execute up build to pipeline us it's strong deals.

is enhancements. ourselves very most right to have need year, world. for like do of profit reliable breakout our growth position really platform the secure We'll everything We good feel most this we to we the sure about that. focus lot now continue We'll continue feel a to in and making on

Operator

Dougherty. ahead. from next The of go question comes Frankel Steven Please

Steven Frankel

have to business renewed the you of piece accounts the throughout and the HOOQ an feel of is on right follow-up saying that making sure now now? and upside. with you renewals to XXXX in mechanics issue the just Jeff, basic seemed are sales you question the That you productivity place drive ex get

Jeff Ray

We any good look that have customers’ are course we control where We insolvency, impact feel a to about big of we're have and the can't that fail the we they business. are. customers We really were leave grateful as significant don't at on our portfolio. having significant, if or

about good that feel of we we diversity customers So, the that have.

We also average out on acquire bigger feel about and and to force business the good sales deals get their ability to. and go

we So than more in a very, control that feel we the we things about long-time. have good again very - we can

Steven Frankel

churn base? in And in below sequential traditional away premium not to and the versus that to you how went customers, Brightcove terms in of that convert much decline just the was of our customers decided

Jeff Ray

Yes, go Rob. ahead.

Rob Noreck

that of the to you up Going in sort continuing to direction, reality customers the came a quarter-over-quarter churn the the churning sequentially end is, that that. is out off year-over-year. wasn't Ooyala the that say it lower same ASPs tell there as are The can right script - trend we're from X% up thing, of and

Steven Frankel

gross a which you and platform margins. address you theory do driving that lifting got you gross there see was decline legacy you've the get allow the how got margins the sequentially, back decline since margin Could then, that people off gross microphone. up again? And What's the Rob

Rob Noreck

quarter-over-quarter about in for right out that's Yes, particular and about we but the of the script entire almost the the directly that HOOQ. of service this didn't $X million topline, X.X reality I the provided talk subscription to as directly quarter. though We is related lost in

Steven Frankel

Okay.

is you they of QX - XXXX? another margins in don't the lose half more assuming back So did customer, like that gross large look

Rob Noreck

intent. the Yes. That's

Steven Frankel

Jeff, a go you an It $X.X your another at forward not you quarter about to with to sounds from spending talked decided earlier time? that comment it incremental million investment And Okay. product. was this last potentially like that create like

Jeff Ray

on best very you about We like we feel research. that where, time the This least get us of least about makes good we can is return a the impact results we got. the good got the the case business. the of It amount feel And that business. in from with results the where future long-term the

For there. we we now, products the are like be opportunistic, that want to out

feedback the immediate to to market for term good to opportunity, from us again the and that for right decided does advantage the is up trigger. we of thing us pull do longer take to We're well that but that when getting set

Operator

[Operator from go Please Capital next Markets. comes Mike Northland Instructions] Latimore of The question ahead.

Mike Latimore

lot. your customer a Can of what Yes percent thanks give XX a a color you more customers little results? revenue on, what’s maybe as contribute top your and largest

Rob Noreck

Yes, sure.

our X%, XX Our just under largest of customer are is customers top XX% revenue.

Mike Latimore

there? What Great. are main And factors but you touched year-over-year. the nicely sort of on a little contributing bit, your ARPU increased has

Rob Noreck

like, number you think take we've a Jeff of this got. one. why things it's I think I don’t

Jeff Ray

it. We both answer to want

Rob Noreck

Jeff go ahead.

Jeff Ray

and Rob wrong. I'll Rob Go it ahead you’re correct then Take you, if

Rob Noreck

performance from after seeing script. to continuing the Right, go the the existing about in got be it their customers Jeff our We're thank force. after Mike force, going we We've the sales and you. expanding Yes they're real improvements the to talk larger and want Jeff productivity deals where from sales new and business.

Jeff Ray

Yes, just do a focus wants long let's the Rob just a that I'll to little just let's ago us add to reaches bit it when something expand correct, but was agree I’ll a or it. on renewal and customer this out wasn't is get

using open to is that very actively sales doors. force the opportunity Now

in the to this you're introduce If other us of business. interested parts portion

Here are the things that we can business. do of for other the parts

rewards in in present. opportunities the only really, that. we've and some rethink enterprises of that's nice started really we're And reaping some Lots already with which

Mike Latimore

trying you just products. a customer of amount again. decent I for tend then getting or pipeline higher is that comment made actually about now guess And - to a read the new to inbound comment specific

Jeff Ray

as - And they standpoint, enterprises they with the is good with they But to lot maintain in fact video. got some traction. there just that's suppliers employees, are business in they've can and continuity. that Yes it is engage products did I recognize a way particular improve mean the and pipeline can above of for survival find witnessing has close that business, also new there, we the can getting coming COVID-XX fundamentally with obviously, a out engagement that getting to of growing, quality they from the to do work

us, tempered now that customers as see. we Again fact right we'll remain it's the healthy we with customers some don't also Where noted, takes are COVID. to that and need struggling - Rob our with

Mike Latimore

Yes and last question.

on struggling, media know customers those of more In are side? are anymore, I break or categories, are terms of you the side those categories historic enterprise the either but categories weaker? they those that don't

Jeff Ray

They it that companies from would advertising streaming same impact live out to have that Those optimistic are will up then time, revenues are exactly very, They that drop. did pick right that. like. come AVOD seeing of this on certainly of a customers that seen you very And events now. clearly we again. the when those heavy they are like struggling sports look look expect reliance have At that

But are closely. own. happen they well most about back the the come vengeance. viewership will that feel fact this make with that comes when that probably we're on their that can't the positioned working Those They two good ones the back they're with they think

Operator

closing [Operator Instructions] questions I There over it are to now would at to Mr. Jeff more remarks. time. no hand Ray this for like

Jeff Ray

control, that and incredible And of one of coming exciting We went no better some for that was everyone that. it quarter. COVID-XX again, see momentum Thanks amount into certainly didn't about Again, did wins operator. you, solid the spite we felt results. in. very, very as we've can't the dialing Thank in never things we an

safety to is For and flows important to sure employees, health remain now, the of positive strong pay the and the to to of continue make and most support that our cash long-term what's business. to health attention

We our safe We rate. think we higher the definitely are much, executing feel are of Stay struck about right the parts stay very, that business very control a we at Thanks and those and much balance. good healthy. in everyone.

Operator

concludes call. Thank you. today's This conference

and a may pleasant disconnect Thank participating lines. for you You day. your have

Brightcove (BCOV) 29 Apr 202020 Q1 Earnings call transcript