As of Sept 30, 2024, Brightcove had 621 employees, the last number the company reported before being acquired. Bending Spoons declined to say how many employees

As of Sept 30, 2024, Brightcove had 621 employees, the last number the company reported before being acquired. Bending Spoons declined to say how many employees have been let go since the acquisition. The numbers tell the story. Brightcove's revenue declined over the past four years: - 2024 $197.7M - $198.7M (projected full year revenue given out during Q3 earnings) - 2023 $201.1M - 2022 $211.1M - 2021 $211.09M While Brightcove projected a non-GAAP loss from operations of $0.1M—$1.1M for 2024, at the end of Q3 2024, the company had $27M in cash and cash equivalents. That's insufficient cash to fund any acquisitions that would have the ability to grow topline revenue quickly. The only reason the number was in the 20s was that Brightcove got $6M in Q2 2024 from selling off 30 of their 53 patents to Adeia, most of which came from Brightcove's acquisition of Unicorn Media. Some PE firms looked at Brightcove but passed, as the cost to run the software platform was too high. In Q3, Brightcove spent $8.7M on R&D (18% of operating expenses) and $9.2M in general and administration (19% of operating expenses). Sales and marketing cost $16.3 million. (33% of operating expenses) With Bending Spoons cutting out many of those costs, with a large percentage coming from layoffs and consolidating some R&D, marketing and sales, the company is maximizing the business for free cash flow. Brightcove had a minimum commitment of $6.6 million over two years for content delivery network services, hosting and other support services, another place Bending Spoons will cut costs. There are many variables regarding the WARN Act and what does or does not trigger it. Over 20 states (and municipal jurisdictions) have some type of mass layoff statute or regulation in effect.