secwatch.observer — SEC 8-K summary
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Issuer:     BRIGHTCOVE INC (—)
CIK:        0001313275
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001193125-23-134408
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 1.02, 2.02, 2.05
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1313275/000119312523134408/0001193125-23-134408-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1313275/000119312523134408/d119479d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-134408

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