BCOV - Earnings call transcript Q4 2021

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Operator

0:03 Greetings. Welcome to the Brightcove Fourth Quarter and Fiscal Year 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]. the to turn ICR. Denyeau now I'll conference Brian over from X:XX you. Thank

You may begin.

Brian Denyeau

may business impact on to economic operations, of as expectations, the views well variety ability to results identified of and customers, and our the positive and as pandemic views maintain These as the related fourth position, Executive today Securities statements go-to-market subject our position X:XX only market in from Forward-looking we to our call. and our Good Jeff the customers. XXXX, Financial With that welcome forward-looking X:XX statements afternoon, we differ fiscal be such Safe actual expect, upon our are to general, Officer. XXXX the any call or upcoming, the Harbor could the Brightcove's with as of financial on Litigation conditions. anticipate, and materially to indications Rob effect execute issued future of our quarter growth including to market reflected ability financial representing may strategy, date. ability will make expectations. are to will Noreck, considered made the pursuant first X:XX words and me Chief on release should be business Brightcove's Today, existing our of discuss call, quarter full be are well as Act for and results as cash and concerning a During to press Provisions often Private as including our announced leadership Chief and our we upsell uncertainties cause COVID-XX expand the on our Ray, similar after reflect and our year acquire free flow, statements the close. not statements Officer; we of earnings XXXX the profitability risks to guidance XXXX, of new that our statements Reform These expected Brightcove's of as subsequent

X:XX discussion filed issued the reconciliation our of quarter can our our our Also a could on results, be and for of X:XX that, terms In quarter XXXX additional strategy. will found operations turn updated will schedule fourth and of a we on website update course a the certain filings. recently financial refer review details on actual finish in as most Jeff. annual provide on let well other call, SEC of non-GAAP financial for at www.brightcove.com. of factors regarding available after by that refer measures. XXXX. call, For the Jeff our important versus of today, XX-K and to report risks first those an Rob results, close our with the results during outlook our as GAAP Form summary With as to X:XX over a market results, to call which other is review full press agenda the our today's today's me our year release currently showing affect material contained our non-GAAP There please and will

Jeff Ray

you and Brian, I you Thanks, for thank to today. everyone be X:XX and joining families to hope well. your continue

had brings content, accomplished growth. and is as created and and Last Marc at domain, March would understanding led customers DeBevoise Brightcove and Marc he his I As an monetized spent of the customer, achieve. a to appointment week buy large diverse and has CBS launched XX. delivered retiring and you outsized Stars announced interactive, result, previous the be career leadership this and As are what Board we that year replacement. executive search with media exceptional ViacomCBS, unique I Marc NBCUniversal. technology announced we Director, X:XX distributed experience know, our teams has for CEO that a effective as He trying our a in of

a Marc and now I Brightcove. will talented So I'm is say the customer join is company that team. leading delighted that be running know to excited we can this Marc

For using team year. achievements. pandemic insight teams for and sourced Today, and impact in video feel more me, business. ongoing for privilege recent I'm why person a into I of we've positive the and provide full restrictions, developed growth to prospects a our will and as proud last year and they our and our some And power share will new for team connect will of We of opportunities, it in I members before quarter long-term the fourth summarize our and a we I'm activities what Despite accomplished want But team partners company. on moment. are Marc results our customers, the been this with the video lead has SaaS financial time. X:XX future challenging exceptional this in happy this have platform. I I to leading the our a platform do, to own globally. X:XX impressive

Last report, focused our their helping ranking in in to and deeper is the upon X:XX annual ranking, ranking to such We and Intelligence online our against competitors. realize in report video our strategy most customers. highest Globe improve strategic in for XXXX. and the our that builds minds employee collection of third retaining is stay leader acquisition outcomes. This interpretation This data user The video to enhancing capturing executed capabilities Learning value hearts action. key our have vendors for to the know, evaluated With medium a the in experiences with our our helping retention position the XX top video business. Artificial the us is for for the and proud insights Research concentrated focus in connecting change innovation, of just Those This video product ranking while the performance. to to customers it's on to with only Aragon their with of announced the areas in video only and to Wicket we And enterprise customers Labs. power deemed Machine business. recent greater enterprise actions it's customer initiatives the ranking inspiring go-to-market and competitive But business and them, particularly sales have with provides the are that awareness actions is commitment you powerful score connecting specifically take acquisition All our We our increasing industry grow the been on not the on advancing XXXX. to X:XX party grow validation our team and industry. brand execution. holds them position were audiences. As week, drive and for be leadership

our stage million, products provide So the these summer, financial revenue setting of let I'll during this me was $XX.X rollout of for summary our reinforce EBITDA million of future our leadership margin X% developments year up year guidance X% But above EBITDA while of down the XXXX, new the this delivered $X.X of and a cover last first quarter was year-over-year call, and $XX.X fourth of coupled an success. more For year. our details but for we with year-over-year. results. aggressive our achievements revenue guidance, full for of the of end high ahead to down million. was million, or year-over-year, EBITDA the adjusted Adjusted $XX $XXX.X XX.X% $XXX,XXX the our X:XX end high million,

And history. pre X:XX $X EBITDA on and in Our margin cash both best $XX.X is our basis performance adjusted million. flow

challenges some While for to sales we the beat financial we experience guidance with continue execution. quarter,

in leader experienced our challenges Pacific much in an the is we're in this in a opportunity Japan and a we third search to with ongoing As Japan the sales for call, we We've and Pacific bring leader. quarter regions. noted strong hired have sales Asia more our leader, performance taking Asia

researching launch of habits, the prior expected significantly of sales in markets, know and these enablement, extensive a program, chances Other our quick some our the customer challenges virtual heavily people see major to for an purchasing including several continued ideal customers for to additional their that this start this place these sales multiday business has improved timely Because to target sales doing our investment and North future fourth initiatives, quarter. sales ongoing profile, in success. new to generation kick-off potential execution in conversion efforts. enabled to early marketing and initiatives building in in work that event both ideal new thorough We needs. of teams precisely content regions certification accounts our our XXXX to is X:XX this include needs. the sales also experienced demand took focus product where address more X:XX By January, a investing resources on our results focused specific And in the work, than We industry America. challenges relevant with now can and lower

Our through steps the will in quarter XXXX. half for we're customers bring accelerated to down business revenue focus bring taking heavily the innovating execution initiatives, confident growth seeing our of that our the will fourth X:XX progress our on XXXX. In value in the improving growth We're we to go-to-market revenue we and results greater second to feel deliver addition platform. sales continue

internal October, segments or innovation of two we monetizing In for span their solutions. customers selling announced products, our their all new Our business enhancements with content, engaging stakeholders.

video We're competence be value general Brightcove as marketing and Brightcove second we to new launch customers such Eloqua, The with use technology every the in systems XX:XX the a campaigns. HootSuite better by solution a marketing we're studio the this quarter studio, marketing roles marketers several can marketing QX. marketing studio with drive major company video studio encouraged Corp offered TV. was communication and to technology early limited to in utilize availability across Multiple enabled results adopters, HubSpot working from availability will announced marketing was vendors as Marketo, bring solution Brightcove The X:XX stronger new code Sitecore in marketing first will digital their within they customers. from to day. use and with who find new Integrations right assets second bright are unmatched solution.

For new employees. customer, NET its quarter is more we're and to on enterprises, attention also using Neurological more own web effectively difficult. in will Brightcove expand experience, parts distribute to to and now Neurological experience app fresh to regions, its extremely more Netflix getting content channels of long-time patients deliver and discussed landscape TV. Barrow initiative content launch with app create growing allows was specifically TV NetApp and accessible overcrowded their we audience in excited mobile audience physicians like Brightcove under TV, its a an a an Barrow to Brightcove always Corp Barrow experience in globally. partners offering to while digital pressure unparalleled Africa. this and TV available Last undergoing XX:XX see launching make Corp customers, to East in enterprises user friendly to video Corp a

product analytics addition insight to is enables with with with These video we're broadcast to customers XX:XX return powerful investment. viewers. insights. acquisition Brightcove the comprehensive announced On February those real significant they company, video our and time customers new engagement, on In and viewer an video of solution. to launches, Brightcove’s audience progress this to analytics, help two quality measure analytic acquisition making into are step Today, XX:XX connecting offering including the work how customers Wicket its viewers understand performance, deliver most Labs, effectiveness gain in deep intelligence video X, platform viewer video and on another insights help intelligent

how and that insights provides content through all scorecard. acquisition, They give will example customers CMSS prospects XX:XX Access the They'll Learning, allows one the of kind retain harmonized year, talent. the These us provide this visualizations will acquired sources systems entire now very the using Wicket from team customers we We're be sell benchmarks will trend accounts, to some into deep and market and into offer. retention. dashboards. close, a sources, and and will customers technology, new Brightcove to of proud increase greater subscribers, value those data, strengthen to performance. data this of billing subscriber deal, industry's engagement I'm a see all serve and as store. integrations of and dynamics, opportunity XX:XX grow data Bringing retention of the plus across to and data analytics acquisition journey, able our right actionable the you understanding excited our for and to members dashboard for this accelerate Disparate and conversions, new subscriber our media revenue best insights have this of efforts. daily their and gives engineering them them By subscription founding pulled have data Let and company. XX:XX worldwide XX getting analytics customers to an into Machine me acquire make insight to engineering data audience customers existing experienced a Labs, products thank joined through variety partnership. of decisions But to power customers talent pick the and analytics. Brightcove. improve subscriber in will Customers business presented that And us

Here are of activity. fourth examples some quarter customer

trends internal culture quality has on Brightcove migrated FUBU topics, Veracity experience. its support using Us new Brightcove high with now engage Brightcove stakeholders. Blue a our its launch billion network vision around we pet enabled to technology Veracity, XX:XX in phase an exceptional events audiences Buffalo, will Brightcove use $X.X digital customer, already and Blue and blockchain our the scalable customers. over of turned to Motor will its their be Brightcove hop its us a because reliable to more with related profile And and more with a in By strategy, in renewed chose to Us a to Company Brightcove customer, high esports XX:XX new YouTube for known to strengthened and deliver joint content power and deliver a brand website to AVOD Brightcove food For manufacturer needed network, beacon joined have a to its FUBU to events transformation. to long-time XXX a audience countries. its control particular, profile existing Brightcove to and esports In continue service. as and technology Ford Buffalo relationship platform superior hip because people it to next become lifestyle. as exceptional to Brightcove develop from UrbanflixTV. FUBU popularly OTT for and content viewing platform performance, external delivering experience building XXXX. its digital venture customer them

Ford video for websites Ford brings uses Brightcove communications. solution security No XX scalability has and to connect global customer able its service countries audiences, dealer deployed to Brightcove on needs internally over training, with in this other and technology the be and to of the reliable, added XX our both through and strengthen internally externally. ability and to channel XX% technologies. deliver saw XX:XX secure our add We business and video to partners quarter We team. our scalable come in fourth continue partners partner

we XXXX, As seeing as woods execution. business to a customer made steps are not challenges to create [Indiscernible] we our overall of While are program progress evidence XX:XX experience. that and focus to committed and remains our fixing strong strategy next success our renewal of customer we move we're out partner the the renewals and told team into focus, area. the improve a strategic our results you in yet, momentum. significant I ago were in build year have a we area took We that

voice a first ramp with business new now a and initiated implemented have impression. running local months, as practices resulting faster each consistent as better a a our customer up contacts time to in success data. to global focusing customer place successfully help Over We cross the for definition the up deployed to We're with internal anyone so monthly and and and This and to in We've process as on sharing customers a now to strategy, customized reviews best our possible needs, organization best Customers customer regional quickly grow. offices. customer direction success. in onboarding getting customers have any new representatives built XX and path team XX:XX globe on resulted Onboarding their great support their reach past goals. giving new easier we needed business time. can needs focused support processes a how customers growth. them fit at can is conversations, and their in quarterly We across we for a their

by through net areas, our and enterprise promoter we increased over a To organization conclude, XX%. months, a made to to for you XX:XX to in As past significant let increase walk execution. investing customers year the have This software greater in we continuously our for have roadmap turn go-to-market the We're competitive With improve and bring working we're robust score XX of numbers. our value efforts our progress engineering business. and key XX:XX product differentiation. call over to our drive the even to Rob. result an me the a over that, significant Rob real and is

Rob Noreck

afternoon, good And Jeff. you, everyone. Thank XX:XX

quarter, I my the CEO as like to the review the finish Before to with million, start, our for the also will Brightcove. thoroughly working begin mark was detailed quarter his guidance welcome for a years. enjoyed above best retirement. was new I together Total $XX.X year all with and I'd to will four of fourth Jeff full which outlook past Revenue XXXX. add of first our XX:XX the like I've I'd our warm and wish for then range. I

Second the supplemental year-over-year and the which international dollar XX on quarterly and revenue and within of quarter, the of Recurring we revenue XXXX XX which the and aggregate revenue metrics revenue. XXX%. revenue down is in of XX% future during XX%, performance quarter down our beginning basis. to to months, XX% me $XXX.X was retention XXXX, Asia related XXX% amount target define more, generated increase. basis, to retention obligations a in we On little retention million, our ranged Europe XX% further was million. $X.X XX.X%, a a in net our revenue of internationally. subscription from to the America compares Revenue of X% represents North is XXXX. million. services and Net of which Since This the XX% backlog third rate Pacific $XX.X a was fourth quarter generated turn as XXs. was low-to-mid of geographic now generated revenue Japan of Let months in the XX% subscription committed and range XX% revenue, XX:XX next professional we revenue support has share Breaking

months to we most current retention reporting from align the reminder, net calculate XX net our prior revenue recurring have annualized revenue recent XX comparing improvements a to recurring with introduced We are by business the that to revenue retention those leading companies. revenue SaaS better As We in with our quarters. the we pleased made prior. existed XX:XX customers months for premium strengthen renewals annual

be there's While in efforts is to to mind basis, a there be this beginning month will since see before to important retention benefits is we still net our on the these we trailing making more revenue a will renewals. do, of in keep metric. reflected are improvements natural the in XX It are that lag calculated

expect of We XX:XX customers. classified XXX% XXXX of will count were the which as this premium over XXXX, Our at metric over be time. quarter end fourth consistently was customer the

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

income to gross basis, one-time our to was fourth Our was at profit was year. $XX,XXX. over down our one for million events, Japan are and events up GAAP $XX.X year-over-year quarter was last quarter. our per the million. excluding on Looking income XXXX results a ARPU fourth year share cent net XX:XX $XX,XXX impact from the $X.X quarter, ARPU Operating these was X% in and we of $XX,XXX Due

our to non-GAAP Turning results.

Adjusted weighted Turning cash $X.X year flow. and Margin $X.X XXXX. in the which by cash to period, XX% in compared in approximately was cash and product On foundation XXXX. flow million benefits Subscription average XX%, of at up the the X% We $X.XX profitability revenue our gross overall XX.X business. income represented net guidance account the balance the average million XX% million capital net income use like XX:XX in outstanding of year revenue when profit share million, future. year gross invest million. net a the shares shares $X.XX fourth end outstanding. in after generated average for year gross $XX.X quarter basis, Looking average been was million the share EBITDA providing a per outstanding. period. the I based compared period $XXX.X from million year-over-year. in operations earlier, software. additional year margin meaningful ways. taking XX:XX in would ago Operating operations to gross XX%. margin $XXX.X first The income and million full quarter based fourth guidance compared the million Adjusted $XX.X the referenced per ago EBITDA This based XX:XX XXXX. million Non-GAAP in million. the in $X.X per $X.X GAAP weighted operations has XX:XX was quarter results, to $X.X in to flow into sets profit of on and XX% XX.X million income was internal XXXX in was support $XXX.X full in with EBITDA improvement million, to of up XX.X the XXXX. income compares We capital outstanding. It million, free XX:XX to $X.X finish our of improvement us ago Income shares was was and ended area Jeff total XX.X gross capitalized non-GAAP net and revenue $XX.X our quarter GAAP This share initiatives cash represented million, gross compared fourth and and margin of high non and generated $X.X basis, a equivalents is was million shares from was was this the a on to profit two cash revenue and share GAAP million. to of on was in strength improves was $XX.X in was $XX.X a year from per on and total $X.X sheet million XX% diluted On of for expenditures Gross million. weighted Adjusted of growth the above $X.XX, to provides for income was margin an quarter Non $X.XX, throughout Our our it range. from weighted

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

mind regards with free targeting year, our are flow I guides. XX:XX to are keep full the in million now things of $X we There a to million. $XX would For few cash

the the cumulative first new we Jeff the of reflects of for earlier, particular in well past discussed impact business challenges challenges described the year. retention as quarter year over have the outlook Our impact and the as the

of making growth of As the long-term set the profitable return expect business, we middle we made in we ROI belief have year, hold, growth. to consistent particularly stage potential the development through continued move changes positive that as not will fundamental business of the we Finally, to a revenue for our We targeted outlook growth top year. our high balanced the over take the to bottom changed. commitment of appropriately time. areas for impact the and the believe in full improved line in product believe this and XX:XX We're investments the has year

deliver partnering as over growth Marc looking that at Brightcove forward next expansion and substantial value on generate we entire a attractive meaningful a can with of and time, confident I'm for business. margin the blend this are revenue We that to consistent team evolution shareholders. here can

the is Marc work performing we forward joins it company of. at introducing end believe We capable at us We level to the have get the March. investment much to the community to to look of he do once

are to So for XX:XX perspective he can questions. your provide will you we and with breakout. future now that, Q&A. Operator, With of take strategy the his we ready begin

Operator

proceed XX:XX Thank question-and-answer comes you. may question Colliers, At from [Operator with first your with be this of time Frankel Our we session. question. you Instructions] will conducting line a the Steven

Steve Frankel

maybe some media into into I from customer headwinds and in and XX:XX Good insight for afternoon, little this. just a the enterprise that how ’XX. how outlook dig into get insight some versus performed losses, like guidance ’XX bit the and The looks maybe

So let's start there.

Rob Noreck

is Sorry mute. on Rob. myself XX:XX had, This Steve. I

in between saw question the of segments the the about performed on of line the split business And two. we yes, last a new seen of, the challenges both and customer the in well XX/XX talked really quarters the were the we over discussed in terms losses of and side in that's what for as really about call, some on losses. your So around of first Customer with what we've part four booking we've now had you customer quarter-over-quarter. media an terms the enterprise count and from then year XX:XX revenue – the [Indiscernible] right from as standpoint, that course

Steve Frankel

in you How terms to laid in of the what into how are Japan some that about pack revenue? you and out? these Okay XX:XX is and problems Asia costing that insight material forecast

Jeff Ray

XX:XX it's Jeff. Hey, Steve,

Steve Frankel

XX:XX Yes.

Jeff Ray

those is highlighted wanted in a on leadership third gets it's early and to Asia the he's up my you. he stepped about new see And got to know there media. great do XX:XX a he'll leader in salesforce.com, for from where very, to started the time past. We The going we're why Yes, into things we that him, interviewed flagged I indicators not on on manager to significant few fantastic getting this, brings in enough sales me making sales opportunities our And there. report of there. lots fantastic weeks. regional new in to we the That's reported the to gap person comes and Rolodex it at it. And a have Singapore, certainly we to opportunities it we're we fired it for lots had moment the pack very ground enterprise the But we strong find take Korea started is who there. we've he quarter, [Indiscernible] been this VP board and only going people. with right changes. Japan, discussions and in, sees landed the Australia, rush

Steve Frankel

the any be far, talking good growth this come bear XX:XX and obviously may hasn't because growth numbers theory and, of in us year Okay. give spent examples out so that a of where business, things it the that numbers that worked out? Can basis. you a proves so is domestically the We growth through the on lot investing last consolidated about and for

Jeff Ray

had We I'll good can enterprise. jump wins media and some both start. in. Sure, in XX:XX Rob certainly

was find North North a in America, And running about up also and successful compromise. challenged quality while board, really to bit of challenge extremely we it her because to all enterprise backfill been high job. going run when to asked worldwide on to had was for America, America's a We You run we're not just who sales individual headcount. little to the promoted for we've Brian getting big with her the salespeople who promoted it enterprise also run took enterprise our was

decision to continue sure make to Profile, on a heard and cool the because We we're and talk seat, to the media you what enterprises that of talent, the the focus are very, the They're on. that that kinds we've looking very line got new equally salespeople a with right precisely out the will we're the that products now as on ICP, best fact of summer. possible know fill they we trained. to well important we going right we And number Customer be do. lot that these we we've see well getting know doing leaders, of calling have me absolutely makers Just steps as And will about solutions Ideal focused what coming know in as for. we this

And sure training those as so our to the speak well, are as media in makers enablement facing. the just along for those seeing has and that XX:XX very skills and Enterprises helping for and do we just and make lines And connecting decision program done certification focused those years, Machine and of we're communicating in are our and taking we're credentials, heavily video done power everything data they customers we've that to they're that enterprise the the media that media content the reveal that. Analytics, of those media, and see side, there. up get they that out on putting investing help big AI can language Learning,

Steve Frankel

Yes. XX:XX

Rob Noreck

North headcount growth America. we're XX:XX challenges leadership particularly quick to some seeing have and where in real having real of we've success mentioned had double though, in the we're in Europe, seen, Just in digits. Steve, instability, And the we team and and what to on Jeff stability that, add that.

stability, can that So and get those place we those in in leaders we we get of kind growth. place, know drive some that once teams

Steve Frankel

hacked upsells? where not when upsells Or XX:XX have any at you headwinds as facing hoped? are as still you renewals the are look Okay. high And success business, you'd then you made around

Rob Noreck

recovery quarter. we third saw little in of with Yes, growing those of the XX:XX a fourth the upsells quarter off bit a

comfortable that's So moving. with the direction we're pretty

Steve Frankel

XX:XX Okay, in and QX? then what we're overages

Rob Noreck

Just million, $X Overages XX:XX $X.X. over at

Steve Frankel

Steve. you thanks, XX:XX Rob Thank and

Jeff Ray

Steve. Thanks, XX:XX

Rob Noreck

XX:XX Thanks, Steve.

Operator

[Operator next with your Martinuzzi of line capital, Lake with may proceed question. the Eric Instructions] you question Street comes XX:XX from Our

Eric Martinuzzi

comes curious wicket with question the revenue with also then regarding what come know and what expenses acquisition? Labs, Wicket along XX:XX labs, to Yes,

Rob Noreck

XX:XX Yeah, But going our this Eric, the at it's at to year, first not not expectation going really be that It's material is revenue we're it's for it out. be be breakeven. breaking gonna about all. diluted not to point,

Eric Martinuzzi

roughly EBITDA, for much. then we're aren't XXXX, and is, to delta here look midpoint as margins too flat I'm on guess the a about looks for I'm talking the midpoint change guidance I for me, like the and going on but the revenue, about the adjusted Okay, assuming and $X revenue downside, about to EBITDA, then the gross XX:XX the talking it the million at adjusted I at and

of So being is in on expense $X flat out margin, that flat incremental where pointed revs million XXXX? gross and

Rob Noreck

ROI as got hot so point know, combination ROI see it's side, And year. the that's. in we R&D XX:XX sales Yeah, can we've high then you a being launched where of on the new of products back those half the

Eric Martinuzzi

XX:XX Okay.

Rob Noreck

not not, our at look not, run based it it's a over growth, it, and it's our on you QX it’s as material the rates. Eric, backs And XX:XX

Eric Martinuzzi

look so XXXX. QX, Okay, opposed at XX:XX versus as to it

Rob Noreck

right. Yeah, XX:XX that's

Eric Martinuzzi

assume did XXXX? full XX% number I the in what's for margins gross – that I it, of And but we have, think an in is year we're appropriate kind that the XX:XX QX, non-GAAP

Rob Noreck

XX:XX Yeah, right. about that's

Eric Martinuzzi

got – QX, trying running million – this step had we're X up the nine X capitalized the hay because up X the about then that go to is the a of new And Or of we've million, months, rate? down? we been the in that's if software about for a this I'm a project million back going first software. X understand in kind then And million, Is and I'm complete? run in Okay. kind capitalized to And XX:XX one-time, QX. wondering

Rob Noreck

of a back be little bit the close higher year, that then first XX:XX products. step to for I'll we part as Yeah, level down the launched the it'll new

Eric Martinuzzi

taking Thanks my question. Okay. XX:XX for

Jeff Ray

XX:XX Thanks, sir.

Operator

I Jeff end will session. to like And we for back this the the over closing remarks. now turn of time, At call Ray question-and-answer XX:XX the to have reached any

Jeff Ray

next for do write years. for you been you, us. chapter engagement is great thank for he Marc, we've I journey very everyone. your quarter I and the of And Marc Thank growth. of a disappointed John. for excited all the everyone, that time in amazing on. this And and over Thanks, for things that skills about foundation take positioning know that I I'm joining Thank to am equally the for team I about business this you the also I to great excited brings fourth as I XX:XX will the four – as am very, Goodbye. results. in the a note last the leadership it's us. thank want

Operator

conference. concludes This XX:XX today's

participation your a for You may great your lines and at have Thank day. you time. disconnect this

Brightcove (BCOV) 17 Feb 222021 Q4 Earnings call transcript