Brightcove highlighted its underlying momentum and product innovation in its latest quarterly results, despite reporting wider losses.
Announcing its fourth quarter and full year 2016 results, the company said that Q4 revenue was up 10% year-on-year to US$38.6 million (€36.3 million)
However loss from operations came to US$3.7 million for the quarter of 2016, compared to a loss from operations of US$214,000 a year earlier.
The company’s net loss stood at US$4.4 million, down from net income of US$172,000 in Q4 2015.
“The momentum we are seeing across our business drove a number of important milestones for our company in 2016, including the return to double-digit revenue growth, 15% bookings growth for the year, the signing of multiple seven-figure, multi-year media wins,” said Brightcove CEO David Mendels.
“In addition, we delivered on a number of exciting product innovations like Dynamic Delivery and Brightcove Social.
“The investments we made throughout the year significantly strengthened our competitive position in the market and we enter 2017 more confident in our ability to continue to drive improved long-term revenue growth and profitability.”