Brightcove Q4 revenue up 2% to $50.2M; CFO Noreck resigning effective May 31

BRIGHTCOVE INC

2023-FY EPS reported -$0.53 revenue$201,187,000

Q4 GAAP net loss $2.5M ($0.06/diluted) vs $5.4M loss prior year; non-GAAP net income $1.9M ($0.04/diluted).
Adjusted EBITDA $5.5M (11% margin), up 366% YoY; free cash flow positive $1.4M vs -$585K.
FY2023 revenue $201.2M (-5% YoY); net loss $22.9M ($0.53) vs $9.0M loss in 2022.
CFO Robert Noreck resigns effective by May 31, 2024 or upon successor; will consult until Sep 30; not due to disagreement.
Cash $18.6M at Dec 31, 2023, up from $16.4M at Sep 30 but down from $31.9M year ago.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Robert Noreck

Chief Financial Officer

BRIGHTCOVE INC

Effective: 2024-05-31
Filed: February 22, 2024, 6:59 PM ET

On February 21, 2024, Robert Noreck, the Company's Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer (collectively, “CFO”), notified the Company of his intent to resign as CFO, effective as of the earlier of May 31, 2024 and the appointment of a successor CFO (such date, the “Transition Date”).

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BRIGHTCOVE INC reported financial results for the fourth quarter and fiscal year ended December 31, 2023.

Period: the fourth quarter and fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 22, 2024, Brightcove Inc. (the “Company”) issued a press release announcing certain financial and other information for the quarter and year ended December 31, 2023.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Robert Noreck resigned as Chief Financial Officer at BRIGHTCOVE INC.

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On February 21, 2024, Robert Noreck, the Company's Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer (collectively, “CFO”), notified the Company of his intent to resign as CFO, effective as of the earlier of May 31, 2024 and the appointment of a successor CFO (such date, the “Transition Date”).

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-24-042834

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