What happens when you sit at the intersection of cloud, HTML5 and video – especially when tablets and high-resolution smartphones are being sold by the hundreds of millions? The answer is – if you are Brightcove, that your sales grow rapidly. In fact the company just announced earnings of $19.9 million which is up 53% YoY. Sure, this isn’t a huge number but the percentage is obviously intriguing.
Moreover, gross profit for the first quarter was up 56% at $13.6 million. Still, the company reported an operating loss for the quarter of $3.2 million compared to a loss of $4.4 million for the same quarter, last year.
In the video below Jeff Whatcott of Brightcove discusses Brightcove 4, an iPhone SDK and other new offerings with TMC’s Erik Linask
New customers added this quarter include Allianz France, Pfizer International Operations, Toyota and Starwood Hotels & Resorts and NBC.
Over my career I have seen many companies look at video as a growing market but few have been able to monetize this space beyond content producers and perhaps YouTube. It remains to be seen if Brightcove will be able to generate large profits in video but their list of top customers, earnings momentum and reinvestment in their business shows they could become a solidly profitable business video company in the next few years.