BCOV - Earnings call transcript Q2 2021

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Operator

Greetings. Welcome to the Brightcove Second Quarter 2021 Earnings Call. At this time, all participants are in a listen only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. conference may your begin. the from Brian turn you ICR, now over host, to Denyeau I’ll

Brian Denyeau

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

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

statements of These impact effect conditions. market the actual the to uncertainties economic expectations. as upon we COVID-XX results business statements upcoming, as of not today reflected expect, should indications and on words our or as representing expectations, a general, cause date. our similar well often the we are future such as and be pandemic of Forward-looking subject that and to statements only as from any could anticipate, reflect be variety views of risks identified views subsequent as These of with including may differ operations on materially financial our

filings. affect most after a market our There of showing and to financial issued during please we which can be and the available Annual risks press reconciliation on recently close those results updated our Form currently on to other of could contained discussion a website call, is other will certain results, non-GAAP course measures. important SEC our our www.brightcove.com. material refer by release factors as Report found today's on Also XX-K versus filed in schedule refer actual For our non-GAAP today, GAAP at that

additional agenda operations update for review a With the our a XXXX provide as that, will strategy. of of our call our regarding with an on financial will details year our the today's results, full call, as of Jeff. second XXXX. over turn and well results, summary finish terms In me Jeff review outlook quarter quarter Rob let our and third for to the

Jeff Ray

hope and and enjoying Thanks Brian I you for are summer. your a today. safe families and thanks joining healthy to everyone

to continue Our most the customers demonstrate connect that video their audiences. powerful remains to medium with

many of organizations hybrid to global working see sectors. empower the for communicate, a to variety environments, industry opportunity educate, begin plan teams to their across As motivate we inspire and them

monetization they ready are the are content also variety are video both that engagement content solutions companies deliver We models. as media we marketers, needs to proud of And presented and to of a across across with to greater to of are in the challenge serve and enabling virtual. continue all reach person to so activities, optimize various

to our that, results. with get So let's

this For $XX.X a the EBITDA adjusted exceeded quarter XX% to guidance. year-over-year. year-over-year, solid was second $X.X million, high was We quarter, million, the up financial revenue X% of end up and delivered performance and

strategic four foremost, calls, success and first business earnings previous in discussed customer have we areas forward, to the to we and drive continue As focus on retention.

cases video investment demand satisfy industries. innovation continued for delivering growing video, multiple use our across solutions for to in Second, the comprehensive

experienced areas of clear a in leveraging indirect has we have Third, success the dedicated, team our direct effort Each these growth and sales our for the execution of seen with accelerating focus goals. channel.

customers. place, our with plan benefit targets ahead our people, realize will it we changes of haven't our the adjusted business changes take growth increasing fully and necessary of quarters to to now margins. renewals with XX% the all in three on revenue the needed are to placed two next systems We financial implementing know in retention of all on processes We focus XX% our with to particular deliver plus long-term these our EBITDA media the elements and

than platform have more is world We better the development video innovating best and in a and product the team that before. quickly ever

pace. than XX% these and headcount reallocating three are at products to new more did resources have deliver engineering ago, years We we record

market to customers. business and go existing team progress expanding winning Our is making

our further this Japan For be example, amazing we go had and XX% respectively. and making second our significant also to year-on-year the complete will realize the These full possible investments us investments in market our accelerate in Asia retention to potential, of momentum best growth position we continue efforts. regions Pacific sales half. improvement will and as XX% put To growth in and marketing

and did take broadcaster we the of starting renewals owned, what me Let moment describe a state it's customer for a our Zealand New is TVNZ years. for commercially Brightcove areas, success. XX in to a with been last growth strategy funded and quarter each customer

needed education onboarding I and TVNZ the training rolled we media for our As program the Using could be years, end a customer took new of new and our TVMZ organizations. actions their resources. of signed their to to access a We renewal we we to new commitment retention out customer comprehensive the a knew two customer. not first express for and importance to renewal modules approached, approach, expert tools, business, including direct this result. proud more

We positive have feedback program. customers on received from overwhelmingly the

to attention that, we The good We are allowing track onboarding recent of new onboarding With is As an work". invested in tools to stating this service class. first better been level up responsiveness and activity tribunals to Scottish positioned example, courts keep help. us can excellent. on and detail customer customers the Brightcove and program all has Please feedback the ensure succeed. shared " its experience, data,

plans have customer In to and new employees add headcount hired success, XXXX. additional addition, we've throughout to dedicated

major believe are we which we've renewals that revenue early of quarter, our growth, Within indicators working. are success the efforts seen a customer customer with number

relationship, its for video Japanese Under our SoftBank fans. strategy. games to Palecon Hydro has recently deeply Japanese what Rowers, now baseball a to professional on demand a does in Brightcove is starting classes. together couple conglomerate of was expanded we provides Brightcove livestream out. came and athlete multinational indoor ago for their lives work ingrained will to inspirational that cyclists communication powered just does lead Hydro business years when

experienced and stage As we're and growth. is renewal Their to imagine, supporting the technology. have every taking with our the indicates of you off team can they committed success working that their recent business

innovation. our course, Of is none without of platform this possible continued

revenue open Alibaba. limitless new lot China, world we platform scale, and product video security In to offers into is of became powerful first more online the Through most delivery business China China’s excitement There's this integrations. engage In intelligent, employees platform including $X.X class our increase have to QX, video. Corporate continue retailers deliver host the projected a to with Communications Brightcove helping and around as trillion innovations that delivery. enterprises audiences partnership We opportunities. expand year. division, with introduced several their and China e-commerce in video

markets energy, global the have based Group, feature; London, Graph, the technology materials and of Voice in and already oil paper, standards We in Jeweller gas, using customers company a a and multinational automotive. raw sets that including and transport

restrictions. playback introduced also We

include being and by watched enables piracy. to advanced security manage unauthorized to offer restriction, restrict from their viewer and prevent protect content most options Playback content customers permissions users. Our access, access

of virtual highly our We and Group, this have last Although such to use insurance event events. in stadium for use out released events Like a training to US seeing and And earnings reach like to prior polling This interact events to any live midsize angles using a as only we virtual organizations customers sporting halls, the sports on streaming quarter, follow life Media easy Japan, repeatable launched group broadcasters, we employee call traction. Open, to great solution any securely. and hole, national feature, early our where USGA, an Open and business events large which Brightcove’s audiences Egyptian product stats. live in major solution and of preparation rolled US easily is, leagues, and companies, for broadcast for will the this camera could scale breakthrough holes experience large virtual and empowers this updates miss An number example live retailers including We different and to unveiling. player business, view the every regional millions. large federation's viewer with and sporting on announced leagues. quickly, its are town event website for from

that through describes go nation's streamed the videos to including a of cable of democratizing interactive, channel, Brightcove and facing Corporation Dal-Tile property. created to tile and in Now XXXX, across manage connecting public Americans. all and color market to to We to leading and to tablets life renewals stone people tile, people specifically audiences news our use experiences, its digital access distributor had video using color, to real and founded quarter Sparrow web, apps, results. let's the musicians independent the is across new of porcelain truth achieve bring February leveraging host, a new by creative network customers manufacturer the natural Brightcove programming of ceramic black with artist execution building smartphones, devices. will for several Dal-Tile in of wins is connected provider directly brand Brightcove. Live as US. the the significant news the business to this XX/X Black business, by only and and all black itself turn for vision arts publish channel launched news turn

for wasn't of the video showcased customers civic, which SAP's that our for to donor Teeth experiences streaming second these Flagship using welcomed SMBC, scalable artist a Fringe what delivered customers, is new impact Edinburgh the Cancer Company, recognize powerful the also largest platform. festivals, partner community can are Defy the quarter, to need of needed one in them, Cancer the We're reliable discovering many arts how Institute's of provider now saw other we've have launch the and They support innovators proud Dana-Farber Global largest cancer banks for Brightcove Festival, commercial Productions, been do Conference, in the including the live as world's streaming Japan. we that. built change and our All event, In Entertainment be that for Sapphire. And User one secure, Rooster or also the a other was we being chosen to of selected lifetime.

reach performing based the new partner, the new United channel great a to grow came to Now, Today, momentum. more globally to move We're in within continue the of great five to customer provide and of patrons partners to signed performance through than partner LX, track is the our first our partnership. year, XXXX the partner an in for XXXX expect XXX for to with us let's have target announced strategy. option our to experience on LX and arts hit to a the offering example Last of and ago, Lyric program XX% are channel through virtually. see that the companies during and our Brightcove we their States, digital XXXX channel one coming XX new XX% Chicago to to audiences months customers Opera, XX%. launched opera that we pleased We season. in value have the through of we leading quarter, organizations bookings

specialized and translation. is continue who also publishers, to with add for us partners technology like to We in [ph], RWS new assist UVU

Asia remains enlisted thrilled play growth six. with the strategic it Our that XX note where I'm will XXXX. in area our of our expansion related in new continue most customer we and progress conference October a partner X, in to quarter that Pacific, annual significant also and partners on focus drive host booking. pleased was ecosystem, this will to and partner We're growth we

we this virtual will and will for the we innovation two news At in innovation you During our see announce about investments are making are truly partners life. cases. day customers to how play, conference, coming our across product exciting use multiple

sessions to for internal will find, TV, on intuitive that way and and ML for new access, Channel marketplace, Brightcove that directly promote monetize a by entire And our rich tap video customers utilize applications. our from brand their ever will communicate external ecosystem which will for showcasing and business audiences teams hosts. to corporate customers video AI companies platforms be influencers time to zones, provision we'll A marketing to with to to enables time repository. day. always distributed Developers with and will three partners intelligence Marketing This be vast these the discover experiences Video share connect. other And partners content able an to from apps With with generated able and sell will solve We the community. industry knowledge in immediate live their to video XX will able empower development needs. provide and be solution across Digital every customers over into the new their be their enterprise and by new a and innovation customers marketing that will and our customers and value first and keynote media session allow reveal teams joined the be an content. our

a contribution he us at wish America promote We're hired the the Rick leadership of as end takes Revenue taken him change joined role with to executive and lead team. of his the he leadership XXXX I in a Froehling sales level. President, the X.X Sales. best is at sales of transformed Hanson, his Brightcove, our to Rick's Finally, next the Brian excited some August for want team. to to organization Brightcove Over it's in sales growth our leading of share July. and to the Chief Brightcove time Head to teams, Officer years Executive Brian thankful Global Vice family. We're

team During at Brightcove, a seen CA and executed Symantec bookings high leadership the Technology. and pivotal level. software at to has Prior tenure, Froehling Technology, his growth held positions tremendous

learning first opportunities Chief directly of has quarter to the the President who success, Senior machine first customer into that capabilities organization will He renewals, to advanced me. solutions, Patrick In Brightcove lead Emerging am the announce to hard and to be employees the advanced us and work founding as success customer customers Verizon Officer. in also the joined Brightcove, are and Watson part development I'm the of importance reports position an early daily of the also the Prior now machine was led Wagstrom and today. delighted one success joined put to so Vice every proud given in business, Group. we them, for credit viewers. their our platform of the cloud IBM would addition, our renewals our in not and customers global Richards, they business, was at of successful. of business make that Capital One's R&D strong led Data bringing we member Wagstrom Technology card I Deb Without company's in the spearhead the learning of Group Brightcove as signs for integrates and a transformation, of

against focus in executing are areas We performing well. each of our

be are is work the path. we the know we not clear, done. right me Let on But

best new the use will big cannot. others industry services top and video the products in that platform of problems We on to solve the

We for accelerate to generate are value and growth, and in a creating position by margins for our revenue shareholders customers. value

of let you me be the XX walk the our a through role call We over to right in and Rob. With to company. turn have place the achieve Rob to to team numbers. strategy targets that,

Rob Noreck

and XX of professional and will $X.X with overages was services which subscription corner. you, everyone. detailed then begin expected amount next of Thank geographic revenue On the XX% XX% $XXX.X increase. Revenue to future the down guidance me million Jeff, XX%, above now which in turn our I obligation revenue Breaking a a retention a we define full was the XX% basis. revenue $XX.X was months, second generated XXXX. represents XX% quarter below year-over-year dollar and our This million. from quarter and quarter of related $X.X backlog third low-to-mid million. supplemental our the quarter rate our subscription higher benefited than international which Let XXs. the Europe was as generated quarter in revenue XX revenue I more, share for further, revenue was and Japan XX% Recurring our will range. little committed target we million months afternoon, the we the during our the down a basis, with Breaking and in second revenue of support on revenue metrics generated revenue a was of the range to aggregate of in performance America quarter. the International. during review outlook good is Asia-Pacific year million, quarterly in $XX.X North finish Total of in second And

or As churn we in previewed customers we in downgrade media quarter. calls, earlier had two large the earnings

revenue sample recurring time our SaaS to small includes it align in some has discerning namely calculated dollar in with This new this substantial introducing from months are the retention based only by have make underlying a current quarter. We relatively we the XX quarterly on at a This our make retention to the and better historically know, approach drawbacks, net This comparable report will those new metric rate, basis leads annualized you swings To retention, that renewal. the most XX efforts, that to retention, better that our provide forward. for significant a annualized customers those retention insight for more on and will up current peers calculate retention size, recurring quarterly prior As challenging. and captures leading companies, up-sells companies. comparing existed which we of premium revenue our net up-sell trends months customers reporting renewal prior. quarter, we into going metric revenue recurring revenue,

the section on net website. quarter a showing back posted our Relations XXXX, the historical schedule retention first We to of of have rate Investor

XX%, retention the revenue existing and net beginning to of dollar rates has of XXX%. second With quarter XX% well of We to as was end the that continue XXXX, XXXX, first compares the Since XXXX. in revenue retention to of quarter our in from compatibility. in provide XXXX the XX% the retention net ranged through which will recurring quarter said, for XX%

strategic business we these they completing impact mentioned, and made when implemented, are quarter. There's our Jeff rate. of is top renewal changes our And positively substantial the process priority. a to progress lag our As second natural the begin when between rebuilding in retention

As we make business. to continue renewals our improvements in

We consistently to metric expect over XXX%. overtime this be

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

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

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

ago of our million Non-GAAP period quarter EBITDA net to weighted the $X.XX the period. non-GAAP of Adjusted our non-GAAP average to income was up of income in Turning of ago shares XX% EBITDA to second per quarter. $XX.X second million compared $X.X gross the revenue of million from income Non-GAAP XX in quarter compares million the XX% period, quarter nicely to guidance $X.X approximately the shares in diluted outstanding. our quarter million XXXX. profit total the was and the revenue XX% and in results, range. This a high in on net XX%, XXXX. a per year average Adjusted $X.XX the is in second share ago share in gross gross million, outstanding compared end $XX.X year gross from support million was a and the was based margin second and in on XXXX. the Subscription the million represented quarter compared which operations XX% in above in margin second was our of quarter second in the XX.X to the quarter compared $X.X year to margin represented margin generated weighted XX% $X.X

to XXXX. software. $X.X and the operations from $X free equivalents balance million, for with by the expenditures sheet the $XX.X generated cash would cash million. and year providing cash We flow, guidance into million capitalized our to Turning internal we $X.X flow in account capital million quarter and cash finish of like and after taking in I ended third cash full quarter use flow and was

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

are we revising year For the full outlook. full year, our

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

For to the full $XX now $X cash targeting year, million. flow free of million we're

our guidance, the being As higher consider our the related you churn challenges a the This renewals. and the outlook slower somewhat who biggest in year in half the in first of to second somewhat half. of change recovery of the pace combination drivers are is are

the path. completed on to business have the put the steps necessary right renewals We

increasing for shareholders. meaningful investments year. the sales for best way In market the driver of believe be our a half in of will to be take we second in of in value advantage order accelerating We the business that We marketing growth us, drive and is opportunity the XXXX. revenue to in long-term renewals to the expect growth our front

wrap To demonstrated the gives investments in Brightcove have ability and strategic strong performance second This business. another to We to disciplined our time. us make financial spending consistently quarter. at approach to growth up, the delivered scale approach this the these confidence our

performance positions Jeff against rates, We our look we work our of deliver as your we We While our top make customers. take retention Rule that, continue to Company. continue strategic XX we'll and towards increasing now we're product bottom-line a we are at and the announcements priorities progress Q&A. mentioned of the as questions. this to well being through we our to believe even to goal With ready Operator, to drive forward value begin improving play. better executing to sharing

Operator

this Lake we from question proceed Street. is first Martinuzzi session. [Operator Please Instructions] have our will with Eric And question. time, At question-and-answer our with your

Eric Martinuzzi

the talking perspective, the finished on the midpoint about a churn below retention bit But, churn talking thought. that little in kind the just And the looking higher of the to about million. slower $XXX recovery where that slower? couple we half -- driver Robbie greater we're renewal the more from a Was guidance would we're go as just previous XX half. a the than now existing guidance reset? back bit little first days outlook Are that The second a and much bigger or to being midpoint being the What's is at midpoint, of conservative that. million the you you recovery that have the

Jeff Ray

slower. driver recovery being bigger the really reset midpoint is The around Yes. the

to for close quarter, at looked where pretty second we the half it's the quarter. be were were really we going of the year. back second we As the we to thought And

Eric Martinuzzi

surprise I what we about but kind bit a of as QX, already then… because we exposures, far accounts. had And couple know Okay, as I media a of -- knew the okay. QX, that's of retention signed. on a

Jeff Ray

there comfortable where we're business. with the prepared I remarks, what side where are media in that on real we the We're just tend side seeing really And on focus the does retention mentioned the slower quick, as to of Eric, it we're recovery. rates. the enterprise And seeing

Eric Martinuzzi

the Okay. what it issue? it dragging? it And media being it What's Is the COVID-related? that -- on is foot recovery Is landscape is budgetary? competitive slower side, driving

Jeff Ray

as those that that media delivery we're stickier really customers be weighing about in the we're into to the larger that that business down large really It versus of the have business some to has side that talked video we're type large problems be explore beacon do-it-yourself willing the solve customers fit last just infrastructure. continue And media will customers the of in-house. that as over selling the to media take selling new on the profile. we The number that couple customers quarters, to tends Yes. apps we've like of much the is

Eric Martinuzzi

on seems sum one the quarter, $XX the of fourth then roughly the then, year, And step-up the with roughly out QX behind QX that's pretty of to coming the And The just midpoint pipeline overages more Is state? I'm then substantial kind that the -- outlook. and of Okay. And by $X number math. QX the million, map? my implied what's step guide. that million a subtracting first What's half for like up that driven? that

Jeff Ray

X.X So, standpoint, overages we're per forecasting the quarter. still from

QX. So, that's in both QX and

on it's what in terms quarter. So performance third really based we're anticipated seeing the of in and retention sales performance

Eric Martinuzzi

you. Got

for Thanks taking Okay. my question.

Operator

question. from with And Colliers. your our Steven next Please with question is proceed Frankel,

Steven Frankel

Good in it afternoon. the go dig want and just a Look, little deeper. I to at back same issue, as is the issue

reduced on going saying churn what -- someone DIY, this because you year thinking that's guidance? half that be of saying specifically the leading that to than are customers in you're the when little is expected, the is you are to back higher a slower half So, you hearing back about going recovery, have you're

Jeff Ray

it's Steven, Hey, Jeff.

have quality message more renewals all the recall, a implemented focus better sales that, we the And do on really quarter, you'll put a out in, the ago that we side, we were years so of all so to going pretty strong integrity of a more we on of We result the improve that, the of beyond guidance. our had lot now that's current that renewals. to than periods things out, we've our before. We the have the into current on insight forecasting, the out job

that into be the better working this. insight a this actually three losing to to indeed, see of couple goes when of account things, risk is just we want It sense those. where of that, of where and paying us take the when the quarters that yes, gives to look But a stage the is do to those save we fact team actions renewals customer the percentage. now intercepting need conservatively these And has earlier earlier an we down and at we so, at off in risk know that, actually very and doesn't

for need going. So say, that to where couple to we're we about of machinery working. is a better just quarters we now feel And the see okay,

Steven Frankel

Okay. new take this maybe notion much productive, And of how try of a accelerate that to sales kind different break marketing, ways this then down which is on versus driven, to could will spending in investing money while revenue to and in become growth? of into headcount and you

Jeff Ray

above in focused we had of one on much demand Yes. the the it’s Steve, there's those the in a headcount and where original really demand the future. ton on, the accelerate generation and And bookings growth not to It's seeing second we're additions in what guide. focused more over we're are growth and that that really side market, the revenue opportunities gen, that

Rob Noreck

this PLAY It's event. X product intend and virtual X. to pretty October And do we some is year good rollouts. Yes.

new And or so choking we the demand going not we're holding want to make gen sure those businesses. back machine after that for

Steven Frankel

new Is Okay. do out you ARPU. way it? later in plateauing think those the that And of here premium come a Are until where while some about the think next products are should we for year? to you journey raise we

Jeff Ray

Yes. No.

of that's churning we some sequentially, that media I identified QX. to already we I we a quarter-over-quarter customers down that those of -- But large from think, QX had were understand out. function

with We're logos. to to think sell more we going both going about to If wait that base the that of then about space but for our start customer at green us, year-over-year. on to need we're We we products in to don't We existing opportunity it, said, existing a lot when be also launching existing side, we're you think PLAY. our that products still talking those continue products. up do have new improving open year-over-year. new even our still customer new that's for X% That up

Rob Noreck

The other upside of us couple thing is, of in that North over the was comfort last gives by most America driven the years. the really ARPU

And rest of practices those so, applying we're world. now of the to kinds the best same

export it we potential, to here. works. those. see now we need implement some It's worked to start And So upside know good as we well that. very We

Steven Frankel

quarter? ranks turnover meaningful sales Rick last than Has the And Okay. question, other been the there departure? in any during

Jeff Ray

out jumping have it But certainly noise it, there, now. it. watching very We're at in we this And just careful touching time, point about seeing to are we're I everybody. right as And so mean, people not because vigilant we attention question. seeing they are paying great out COVID. there been is much We're just a of it. It’s not come

Steven Frankel

Okay. Thank Jeff. you,

Jeff Ray

Thank you.

Operator

is And our Capital question next your with from Northland Mike Latimore question. Please proceed Markets. with

Mike Latimore

Great, thanks. Yes.

they itself the On full quarter? productivity at in were Salesforce the

Jeff Ray

to go and but number and we of had think some much, have not always engage. we impacting a we -- our openings, -- that win Pretty number negatively is a ability it's there's we

Mike Latimore

it. Got

changes I Or And -- year, earlier the there are of, Okay. this process, consulting of matter year, in of place you do in just processes, retention process hired then it's retention might obviously, executing all you have now, do for for additional a them? terms head revenue you product? the revenue own group retention the guess, changes in think or your be of revenue the terms the a you consulting last

Jeff Ray

DIY, ahead great how also after the of pleased a expanse all really Deb Zealand, what with doing ago TVNZ implementing pleased just a year minutes us one with aggressively this. of couple for has time noted years. or the components with have credit I as to customer had TV us. has new things with XX And for they're been a on actually And of things talking And some their the was downsizing done. of give renewal I'm broad lot been They of relationship always all this about of aspects a last going it. changes. were they that Mike, that two for That's We're New to how I her the the I'm team were for example, the are right the see that they're for years. pleased and them. renewed didn't the very convinced in. And of that We renew plan they on put partner a to they they team year team

and let's media, enterprise media. all quite not doing be it's for great, So customers, because we go scale frankly, major The aggressively doing we're media that after up other things for can of same unique enterprise. to that and our

Mike Latimore

on getting Okay. it there? I but pricing, it. of is year-over-year, ARPU would characterize you the about stable aggressive? is do guess pricing things, are how side? more Got on I environment the growing the And think How side enterprise mean, enterprise you

Rob Noreck

Yes.

we're any capture side enterprise pressure the not On we're price year-over-year, the is stable, able seeing dramatic increases price still on enterprise to and side.

Mike Latimore

last Great. just How today? quarter? going in gen more to invest over built guess. been you're forward, going has on, and the demand -- here then I like sounds the And it demand gen How is last pipeline

Rob Noreck

second that. investing over We in quarter. in the started early really We're Yes.

to we those we see As opportunity, to off. start the expect paying investments started

couple about, we So how implemented to investments. over disciplined we've talked really approach as our last we've of at a look the years,

And not as in we those necessary So back areas, investments we'll quarter seeing areas. where down made second in returns. we're start those on the double we we'll pull payoff, seeing those the

We the actually impressed identified activities. segments the In also, year we segments that with marketing within now versus past, has a growth much demand in the six level investing, immediate now, those gen precision getting are we I'm most that had less were traction. of team sub months, We ago. the segments, knows

So the precise more we ROI the because know be going and surgical, better. is to is more that think spending, I

Mike Latimore

Okay, great. Thank you.

Jeff Ray

you. Thank

Operator

And the closing we CEO, now turn remarks. over I'll Jeff session. of reached to for have this question-and-answer Ray end the call

Jeff Ray

Xth everyone, Thanks, for joining I us. really want important. Xth Thank do reiterate, and you, to October is Operator.

to that activity. make high the confidence, and you the future, with product And We're AI by you And excited encouraged fact encourage also pipeline very, that, that It's we're show. sign-up very the new ML. how we that, very event. about, to excited and join for can be so eager different use play. better things the a about to a us few I very going other there's We're of well. pretty I this And that hope Have day. us your gives company. And are things. do in a it's on some leading to not we're customers look Thanks, with big a good And level forward working safe. be beyond. I direction everyone. near us in you talking taking of these to families continue We're

Operator

conference. made for time. you This And participation. concludes Thank line at disconnect your you this today's your

Brightcove (BCOV) 29 Jul 212021 Q2 Earnings call transcript