Brightcove Inc. (NASDAQ:BCOV) Q4 2018 Earnings Conference Call Transcript

Feb 13, 2019 • 05:00 pm ET


Brightcove Inc. (NASDAQ:BCOV) Q4 2018 Earnings Conference Call Transcript


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Greetings and welcome to Brightcove's Fourth Quarter and Fiscal Year 2018 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) As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Brian Denyeau.

Brian Denyeau

Good afternoon and welcome to Brightcove's fourth quarter and full year 2018 earnings call. Today we'll discuss the results announced in our press release issued after market close. With me on the call are Jeff Ray, Brightcove's Chief Executive Officer; and Rob Noreck, Brightcove's Chief Financial Officer.

During the call we will make statements related to our business that may be considered forward-looking and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements concerning our financial guidance for the first fiscal quarter of 2019 and the full year 2019, expected profitability and positive free cash flow, our position to execute on our go-to-market and growth strategy, our ability to expand our leadership position, our ability to maintain and upsell existing customers as well as our ability to acquire new customers.

Forward-looking statements may often be identified with words such as we expect, we anticipate, upcoming or similar indications of our future expectations. These statements reflect our views only as of today and should not be reflected upon as representing our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations. For a discussion of the material risks and other important factors that could affect our actual results, please refer to those contained in our most recently filed annual report on Form 10-K and as updated by our other SEC filings.

Also during the course of today's call we will refer to certain non-GAAP financial measures. There's a reconciliation schedule showing GAAP versus non-GAAP results currently available in our press release issued after market close today, which can be found in our website at In terms of the agenda for today's call, Jeff will provide a summary review of our financial results, an update in our operations and a review of our strategy. Rob will finish with additional details -- regarding our fourth quarter 2018 results as well as our outlook for the first quarter and full year 2019.

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

Jeff Ray

Thank you, Brian and thank you all for joining today. During the fourth quarter, Brightcove made additional progress with its strategic initiatives to position the Company to deliver breakout growth. We remain confident that Brightcove can deliver sustainable revenue growth and profitability in excess of current levels over time, as the changes we are making take hold across the business.

A key part of our strategy and what gives me confidence that it will be successful, is the continued improvements in renewal rates we saw throughout 2018 which trended higher