Stay on Top of Enterprise Technology Trends
Get updates impacting your industry from our GigaOm Research Community
Performing the quarterly earnings report ritual for the first time since becoming a publicly traded company in February, video platform provider Brightcove on Thursday reported revenue growth of 53 percent to $19.9 million for Q1.
The Cambridge, Mass.-based company also reported shrinking losses of $4.3 million, down 26 percent from the first quarter of 2011.
Despite incurring losses of $17.8 million last year, Brightcove has largely inspired investor confidence, with the company’s initial public offering raising $55 million.
However, since peaking on March 20 at $24.80 a share, Brightcove stock has slipped, closing Thursday at $19.00 a share.