---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-134408"
form_type: "8-K"
ticker: null
cik: "0001313275"
company_name: "BRIGHTCOVE INC"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:29:16.900756+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Brightcove Q1 revenue down 8% to $49.1M, net loss $11.7M; announces 10% workforce reduction

## Summary
- Revenue $49.1M (down 8% YoY); subscription revenue $47.1M (down 9% YoY).
- GAAP net loss $11.7M ($0.28 loss per share); non-GAAP net loss $6.6M ($0.15 loss per share).
- Cash and equivalents $12.5M (down from $31.9M Dec 2022) due to SVB collapse; majority collected by May 3.
- Restructuring plan cuts ~10% of workforce; expects $2.0-2.2M severance charges, substantially complete by Q2 2023.
- Terminated ATM program with Cowen; no sales were made under it.

## SEC filing metadata
- accession: 0001193125-23-134408
- form_type: 8-K
- cik: 0001313275
- company_name: BRIGHTCOVE INC
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.02, 2.02, 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1313275/000119312523134408/0001193125-23-134408-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1313275/000119312523134408/d119479d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-134408
- JSON: https://secwatch.observer/filing/0001193125-23-134408.json
- Plain text: https://secwatch.observer/filing/0001193125-23-134408.txt

## Key facts
- Earnings Releases
  BRIGHTCOVE INC reported the first quarter ended March 31, 2023 results: revenue $49.1 million, net income $11.7 million, or a loss of $0.28 per diluted share, EPS $0.28 per diluted share.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $49.1 million
  - Net income: $11.7 million, or a loss of $0.28 per diluted share
  - EPS: $0.28 per diluted share
  - Result: reported results
  source text: Revenue for the first quarter of 2023 was $49.1 million, a decrease of 8% compared to $53.4 million for the first quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1313275/000119312523134408/0001193125-23-134408-index.htm
- Material Agreements
  BRIGHTCOVE INC terminated Sales Agreement with Cowen and Company, LLC valued at Termination of Sales Agreement for ATM Program (effective 2023-05-01).
  - Action: termination
  - Agreement: atm program
  - Counterparty: Cowen and Company, LLC
  - Value: Termination of Sales Agreement for ATM Program
  - Effective: 2023-05-01
  source text: On May 1, 2023, Brightcove Inc. (the “Company”) notified Cowen and Company, LLC (“Cowen”) of its decision to terminate the Sales Agreement, dated as of February 23, 2023 (the “Sales Agreement”) between the Company and Cowen, effective as of May 1, 2023 (the “Termination Date”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1313275/000119312523134408/0001193125-23-134408-index.htm
- Restructurings & Charges
  BRIGHTCOVE INC announced a restructuring with charges of between $2.0 million and $2.2 million (approximately 10%).
  - Type: restructuring
  - Charge: between $2.0 million and $2.2 million
  - Headcount: approximately 10%
  source text: On April 28, 2023, the Board of Directors of the Company authorized a restructuring (the “Plan”) that is designed to reduce operating costs, improve operating margins and focus on key growth and strategic priorities. The Plan includes a reduction of the Company’s current workforce by approximately 10%. In connection with the Plan, the Company estimates that it will incur charges of between $2.0 million and $2.2 million related to employee severance costs, consisting primarily of cash expenditures.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1313275/000119312523134408/0001193125-23-134408-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.