Brightcove(US:BCOV)2024-11-05 01:56Financial Performance - Total revenue for Q3 2024 was $49.9 million, a decrease of 2% year-over-year[4, 20] - Adjusted EBITDA for Q3 2024 was $5.1 million, representing 10% of revenue[4, 25, 26] - The company reported a GAAP net loss of $3.0 million for Q3 2024, with an EPS of ($0.07)[4, 24, 26] - Free cash flow for Q3 2024 was $1.6 million[4, 29] - Cash and cash equivalents totaled $27.0 million[4, 27] - Subscription backlog reached $183.2 million, a 5% increase year-over-year, with >12 months backlog at $60.8 million, up 15% year-over-year[22] Guidance - Revised revenue guidance for FY24 is $197.7 million to $198.7 million[5, 30] - Revised adjusted EBITDA guidance for FY24 is $16.8 million to $17.8 million[5, 30] Business Highlights - New business increased by 50%[7] - New business contract values increased by approximately 90% quarter-over-quarter versus the trailing 4 quarters average[8] - Add-on business increased by 5% year-over-year versus the trailing 4 quarters average[8]