0000950170-23-004153 | 10-K | XBRL Viewer

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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2022	Feb. 20, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	BRIGHTCOVE INC
Entity Central Index Key	0001313275
Current Fiscal Year End Date	--12-31
Document Annual Report	true
Document Transition Report	false
Trading Symbol	BCOV
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Address Line One	281 Summer Street
Entity Address, Postal Zip Code	02210
City Area Code	888
Local Phone Number	882-1880
Entity Tax Identification Number	20-1579162
Entity Public Float			$ 261,780,929
Entity File Number	001-35429
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		42,327,319
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement relating to its 2023 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Boston, Massachusetts

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 31,894	$ 45,739
Accounts receivable, net of allowance of $294 and $353 at December 31, 2022 and December 31, 2021, respectively	26,004	29,866
Prepaid expenses	8,700	7,792
Other current assets	10,722	10,833
Total current assets	77,320	94,230
Property and equipment, net	39,677	20,514
Operating lease right-of-use asset	18,671	24,891
Intangible assets, net	10,279	9,276
Goodwill	74,859	60,902
Other assets	7,007	6,655
Total assets	227,813	216,468
Current liabilities:
Accounts payable	11,326	11,039
Accrued expenses	26,877	20,925
Operating lease liability	4,157	2,600
Deferred revenue	61,597	62,057
Total current liabilities	103,957	96,621
Operating lease liability, net of current portion	20,528	22,801
Other liabilities	981	786
Total liabilities	125,466	120,208
Commitments and contingencies (Note 9)
Stockholders' equity:
Undesignated preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued
Common stock, $0.001 par value; 100,000,000 shares authorized; 42,449,677 and 41,384,643 shares issued at December 31, 2022 and 2021, respectively	42	41
Additional paid-in capital	314,825	298,793
Treasury stock, at cost; 135,000 shares	(871)	(871)
Accumulated other comprehensive loss	(1,593)	(662)
Accumulated deficit	(210,056)	(201,041)
Total stockholders' equity	102,347	96,260
Total liabilities and stockholders' equity	$ 227,813	$ 216,468

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 294	$ 353
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	42,449,677	41,384,643
Treasury stock, shares	135,000	135,000

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Revenue	$ 211,008	$ 211,093	$ 197,353
Cost of revenue:
Cost of revenue	77,073	73,028	76,097
Gross profit	133,935	138,065	121,256
Operating expenses:
Research and development	33,524	31,718	33,978
Sales and marketing	73,997	71,177	59,812
General and administrative	32,550	29,261	27,021
Merger-related	747	300	5,768
Other expense (benefit)	1,149	(1,965)
Total operating expenses	141,967	130,491	126,579
(Loss) income from operations	(8,032)	7,574	(5,323)
Other (expense) income, net
Interest income	103	5	28
Interest expense			(205)
Other (expense) income, net	(1,138)	(1,380)	305
Total other (expense) income, net	(1,035)	(1,375)	128
(Loss) income before income taxes	(9,067)	6,199	(5,195)
(Benefit) provision for income taxes	(52)	802	618
Net (loss) income	$ (9,015)	$ 5,397	$ (5,813)
Net (loss) income per share
Basic	$ (0.22)	$ 0.13	$ (0.15)
Diluted	$ (0.22)	$ 0.13	$ (0.15)
Weighted-average number of common shares used in computing net (loss) income per share
Basic	41,831	40,717	39,473
Diluted	41,831	42,200	39,473
Subscription and Support Revenue [Member]
Revenue:
Revenue	$ 204,091	$ 198,929	$ 187,341
Cost of revenue:
Cost of revenue	69,935	62,773	67,124
Professional Services and Other Revenue [Member]
Revenue:
Revenue	6,917	12,164	10,012
Cost of revenue:
Cost of revenue	$ 7,138	$ 10,255	$ 8,973

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (9,015)	$ 5,397	$ (5,813)
Other comprehensive (loss) income:
Foreign currency translation adjustments	(931)	(474)	597
Comprehensive (loss) income	$ (9,946)	$ 4,923	$ (5,216)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]
Beginning Balance at Dec. 31, 2019		$ 39	$ (871)	$ 276,365	$ (200,625)	$ (785)
Beginning Balance, shares at Dec. 31, 2019		39,042,787
Treasury shares, beginning Balance at Dec. 31, 2019			(135,000)
Common stock issued upon acquisition		$ 0		0
Common stock issued upon acquisition. shares		0
Issuance of common stock upon exercise of stock options and pursuant to restricted stock units, net of tax		$ 1		1,617
Issuance of common stock upon exercise of stock options and pursuant to restricted stock units, shares		1,109,234
Stock-based compensation expense				9,077
Foreign currency translation adjustment	$ 597					597
Net (loss) income					(5,813)
Ending Balance at Dec. 31, 2020	79,602	$ 40	$ (871)	287,059	(206,438)	(188)
Ending Balance, shares at Dec. 31, 2020		40,152,021
Treasury stock, Ending Balance at Dec. 31, 2020			(135,000)
Common stock issued upon acquisition		$ 0		0
Common stock issued upon acquisition. shares		0
Issuance of common stock upon exercise of stock options and pursuant to restricted stock units, net of tax		$ 1		1,175
Issuance of common stock upon exercise of stock options and pursuant to restricted stock units, shares		1,232,622
Stock-based compensation expense				10,559
Foreign currency translation adjustment	(474)					(474)
Net (loss) income					5,397
Ending Balance at Dec. 31, 2021	$ 96,260	$ 41	$ (871)	298,793	(201,041)	(662)
Ending Balance, shares at Dec. 31, 2021		41,384,643
Treasury stock, Ending Balance at Dec. 31, 2021	(135,000)		(135,000)
Common stock issued upon acquisition		$ 0		1,987
Common stock issued upon acquisition. shares		212,507
Issuance of common stock upon exercise of stock options and pursuant to restricted stock units, net of tax		$ 1		(84)
Issuance of common stock upon exercise of stock options and pursuant to restricted stock units, shares		852,527
Stock-based compensation expense				14,129
Foreign currency translation adjustment	$ (931)					(931)
Net (loss) income					(9,015)
Ending Balance at Dec. 31, 2022	$ 102,347	$ 42	$ (871)	$ 314,825	$ (210,056)	$ (1,593)
Ending Balance, shares at Dec. 31, 2022		42,449,677
Treasury stock, Ending Balance at Dec. 31, 2022	(135,000)		(135,000)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net (loss) income	$ (9,015)	$ 5,397	$ (5,813)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	10,696	8,322	8,695
Stock-based compensation	13,548	9,968	8,785
Provision for reserves on accounts receivable	118	159	648
Changes in assets and liabilities:
Accounts receivable	4,227	(846)	1,358
Prepaid expenses and other current assets	(1,216)	1,281	(6,918)
Other assets	(348)	(1,437)	(1,937)
Accounts payable	120	(683)	1,014
Accrued expenses	2,397	(5,209)	5,600
Operating leases	5,503	(634)	182
Deferred revenue	(609)	3,245	9,698
Net cash provided by operating activities	25,421	19,563	21,312
Investing activities
Cash paid for acquisition, net of cash acquired	(13,215)	(2,000)	0
Purchases of property and equipment	(10,727)	(2,205)	(2,362)
Capitalized internal-use software costs	(13,825)	(6,637)	(6,362)
Net cash used in investing activities	(37,767)	(10,842)	(8,724)
Financing activities
Proceeds from exercise of stock options	177	2,846	2,216
Deferred acquisitions payments	0	(475)	0
Proceeds from debt	0	0	10,000
Payments on debt	0	0	(10,000)
Other financing activities	(260)	(1,669)	(631)
Net cash (used in) provided by financing activities	(83)	702	1,585
Effect of exchange rate changes on cash and cash equivalents	(1,416)	(1,156)	540
Net (decrease) increase in cash and cash equivalents	(13,845)	8,267	14,713
Cash and cash equivalents at beginning of period	45,739	37,472	22,759
Cash and cash equivalents at end of period	31,894	45,739	37,472
Supplemental disclosure of cash flow information
Cash paid for operating lease liabilities	1,842	4,277	6,326
Cash paid for income taxes	671	737	1,190
Cash paid for interest	0	0	205
Supplemental disclosure of non-cash operating activities
Capitalization of stock-based compensation related to internal use software	580	593	267
Supplemental disclosure of non-cash investing and financing activities
Unpaid internal-use software costs	1,213	446	49
Fair value of shares issued for acquisition of a business	1,987	0	0
Unpaid purchases of property and equipment	$ 267	$ 25	$ 160

Business Description	12 Months Ended
Business Description	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description	1. Business Description Brightcove Inc. (the Company) is a global provider of cloud services for video which enable its customers to publish and distribute video to Internet-connected devices quickly, easily and in a cost-effective and high-quality manner. The Company is headquartered in Boston, Massachusetts and was incorporated in the state of Delaware on August 24, 2004.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

The accompanying consolidated financial statements reflect the application of certain significant accounting policies as described below and elsewhere in these notes to the consolidated financial statements.

The Company believes that a significant accounting policy is one that is both important to the portrayal of the Company’s financial condition and results, and requires management’s most difficult, subjective, or complex judgments, often as the result of the need to make estimates about the effect of matters that are inherently uncertain.

Basis of Presentation

The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States generally accepted accounting principles as found in the Accounting Standards Codification (ASC) and Accounting Standards Update (ASU) of the Financial Accounting Standards Board (FASB).

Use of Estimates and Uncertainties

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts expensed during the reporting period.

Significant estimates relied upon in preparing these consolidated financial statements include revenue recognition and variable consideration, contingent liabilities, intangible asset valuations, and the realizability of the Company’s deferred tax assets.

Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results may differ from management’s estimates if these results differ from historical experience, or other assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made.

The Company is subject to a number of risks and uncertainties common to companies in similar industries and stages of development including, but not limited to, rapid technological changes, competition from substitute products and services from larger companies, customers switching to in-house solutions, customer concentration, management of international activities, protection of proprietary rights, patent litigation, and dependence on key individuals.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Foreign Currency Translation

The reporting currency of the Company is the U.S. dollar. The functional currency of the Company’s foreign subsidiaries is the local currency of each subsidiary. All assets and liabilities in the balance sheets of entities whose functional currency is a

currency other than the U.S. dollar are translated into U.S. dollar equivalents at exchange rates as follows: (1) asset and liability accounts at period-end rates, (2) income statement accounts at weighted-average exchange rates for the period, and (3) stockholders’ equity accounts at historical exchange rates. The resulting translation adjustments are excluded from income (loss) and reflected as a separate component of stockholders’ equity. Foreign currency transaction gains and losses are included in net loss for the period. The Company may periodically have certain intercompany foreign currency transactions that are deemed to be of a long-term investment nature; exchange adjustments related to those transactions are made directly to other comprehensive loss, a separate component of stockholders’ equity.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. Management determines the appropriate classification of investments at the time of purchase, and re-evaluates such determination at each balance sheet date. The Company did not have any short-term or long-term investments at December 31, 2022 or 2021. Cash and cash equivalents primarily consist of cash on deposit with banks and amounts held in interest-bearing money market accounts. Cash equivalents are carried at cost, which approximates their fair market value.

Property and Equipment

Property and equipment are recorded at cost and depreciated over their estimated useful lives using the straight-line method. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the related asset. Upon retirement or sale, the cost of assets disposed of, and the related accumulated depreciation, are removed from the accounts, and any resulting gain or loss is included in the determination of net income or loss in the period of retirement. Expenditures for maintenance and repairs are charged to expense as incurred, whereas major improvements are capitalized as additions to property and equipment.

The Company estimates the useful life of property and equipment as follows:


		Estimated Useful Life (in Years)
Computer equipment		3
Software		3 - 6
Furniture and fixtures		5
Leasehold improvements		Shorter of lease term or the estimated useful life

Fair Value of Financial Instruments

ASC 820, Fair Value Measurements and Disclosures, establishes a three-level valuation hierarchy for instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s own assumptions (unobservable inputs). Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances.

ASC 820 identifies fair value as an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based on the highest and best use of the asset or liability. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The Company uses valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows:

•

Level 1: Observable inputs, such as quoted prices for identical assets or liabilities in active markets;

•

Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly, such as quoted prices for similar assets or liabilities, or market-corroborated inputs; and

•

Level 3: Unobservable inputs for which there is little or no market data which require the reporting entity to develop its own assumptions about how market participants would price the assets or liabilities.

The valuation techniques that may be used to measure fair value are as follows:

A. Market approach — Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

B. Income approach — Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about those future amounts, including present value techniques, option-pricing models, and excess earnings method.

C. Cost approach — Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost).

The Company measures eligible assets and liabilities at fair value, with changes in value recognized in earnings. Fair value treatment may be elected either upon initial recognition of an eligible asset or liability or, for an existing asset or liability, if an event triggers a new basis of accounting. The Company did not elect to remeasure any of its existing financial assets or liabilities, and did not elect the fair value option for any financial assets and liabilities transacted in the years ended December 31, 2022 or 2021. Realized gains and losses from sales of the Company’s investments are included in “Other (expense) income, net”.

The carrying amounts of the Company’s financial instruments, which include cash, cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximated their fair values at December 31, 2022 and 2021, due to the short-term nature of these instruments.

The Company has evaluated the estimated fair value of financial instruments using available market information and management’s estimates. The use of different market assumptions and/or estimation methodologies could have a significant impact on the estimated fair value amounts.

The Company’s financial instruments carried at fair value were less than $100 as of December 31, 2022 and 2021.

Revenue

ASC 606 outlines a comprehensive five-step revenue recognition model based on the principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

1) Identify the contract with a customer

2) Identify the performance obligations in the contract

3) Determine the transaction price

4) Allocate the transaction price to performance obligations in the contract

5) Recognize revenue when or as the Company satisfies a performance obligation

The Company satisfies performance obligations as discussed in further detail below. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised service to a customer. The transaction price is the total amount of consideration to which the Company expects to be entitled in exchange for transferring the promised services to the customer. The Company has elected to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the Company from a customer (e.g. sales and use tax).

Disaggregation of Revenue

Subscription and Support

The Company’s subscription arrangements provide customers the right to access its hosted software applications. Customers do not have the right to take possession of the Company’s software during the hosting arrangement. Contracts for premium customers generally have a term of one year and are non-cancellable. These contracts generally provide the customer with a maximum annual level of entitlement, and provide the rate at which the customer pays for actual usage above the annual entitlement allowance. These subscription arrangements are considered stand ready obligations that are providing a series of distinct services that are substantially the same and are transferred with the same pattern to the customer. As such, these

subscription arrangements are treated as a single performance obligation and the related fees are recognized as revenue ratably over the term of the underlying arrangement.

When the transaction price includes a variable amount of consideration, an entity is required to estimate the consideration that is expected to be received for a particular customer arrangement. The Company evaluates variable consideration for usage-based fees at contract inception and re-evaluates quarterly over the course of the contract. Specifically, the Company estimates the revenue pertaining to a customer’s usage that is expected to exceed the annual entitlement allowance and allocates such revenue to the distinct service within the related contract that gives rise to the variable payment. Estimates of variable consideration include analyzing customer usage against the applicable entitlement limit at the end of each reporting period and estimating the amount and timing of additional amounts to be invoiced in connection with projected usage. Estimates of variable consideration relating to customer usage do not include amounts for which it is probable that a significant reversal will occur. Determining the amount of variable consideration to recognize as revenue involves significant judgment on the part of management and it is possible that actual revenue will deviate from estimates over the course of a customer’s committed contract term.

Contracts with customers that are month-to-month arrangements (volume customers) have a maximum monthly level of usage and provide the rate at which the customer must pay for actual usage above the monthly allowable usage. The monthly volume subscription and support and usage fees are recognized as revenue during the related period of performance. Contracts with customers that are invoiced on a pay-as-you-go basis, where there is no monthly or annual commitment for usage, provide the rate at which the customer must pay for actual usage for a particular period. Fees that are invoiced on a pay-as-you-go basis are recognized as revenue during the period of performance.

Professional Services and Other Revenue

Professional services and other revenue consist of services such as implementation, software customizations and project management for customers who subscribe to our premium editions. These arrangements are priced either on a fixed fee basis with a portion due upon contract signing and the remainder due when the related services have been completed, or on a time and materials basis. Professional services and other revenue sold on a stand-alone basis are recognized as the services are performed, subject to any refund or other obligation.

Contracts with Multiple Performance Obligations

The Company periodically enters into multiple-element service arrangements that include platform subscription fees, support fees, and, in certain cases, other professional services. These contracts include multiple promises that the Company evaluates to determine if the promises are separate performance obligations. Performance obligations are identified based on services to be transferred to a customer that are both capable of being distinct and are distinct within the context of the contract. Once the Company determines the performance obligations, the Company determines the transaction price, which includes estimating the amount of variable consideration to be included in the transaction price, if any. The Company then allocates the transaction price to each performance obligation in the contract based on a relative stand-alone selling price method. The transaction price post allocation is recognized as revenue as the related performance obligation is satisfied.

Costs to Obtain a Contract

Commissions are paid to internal sales representatives as compensation for obtaining contracts. Under the new guidance, the Company capitalizes commissions that are incremental, as a result of costs incurred to obtain a customer contract, if those costs are not within the scope of another topic within the accounting literature and meet the specified criteria. Assets recognized for costs to obtain a contract are amortized over the period of performance for the underlying customer contracts. The commission expense on contracts with new customers is recorded over the average life of a customer given the commission amount associated with sales to new customers is not commensurate with the commission amount associated with the contract renewal for those same customers. The commission amount associated with the renewal of a contract in addition to any commission amount related to incremental sales are recorded as expense over the term of the renewed contract. These assets are periodically assessed for impairment.

Cost of Revenue

Cost of revenue primarily consists of costs related to supporting and hosting the Company’s product offerings and delivering professional services. These costs include salaries, benefits, incentive compensation and stock-based compensation expense related to the management of the Company’s data centers, customer support team and the Company’s professional

services staff, in addition to third-party service provider costs such as data center and networking expenses, allocated overhead, amortization of capitalized internal-use software development costs and intangible assets and depreciation expense.

Allowance for Doubtful Accounts

The Company offsets gross trade accounts receivable with an allowance for doubtful accounts. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable and is based upon historical loss patterns, the number of days that billings are past due, and an evaluation of the potential risk of loss associated with specific accounts. Account balances are charged against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Provisions for allowances for doubtful accounts are recorded in general and administrative expense.

Effective January 1, 2020, the Company adopted ASC 326, which requires measurement and recognition of expected credit losses for financial assets held. Estimating credit losses based on risk characteristics requires significant judgment by the Company. Significant judgments include, but are not limited to: assessing current economic conditions and the extent to which they would be relevant to the existing characteristics of the Company’s financial assets, the estimated life of financial assets, and the level of reliance on historical experience in light of economic conditions. The Company reviews and updates, when necessary, its historical risk characteristics that are meaningful to estimating credit losses, any new risk characteristics that arise in the natural course of business, and the estimated life of its financial assets.

The Company uses the aging method to estimate its expected credit losses on trade accounts receivable (“AR”) and unbilled trade accounts receivable (“UAR”). As of December 31, 2022, the financial assets of the Company within the scope of the assessment comprised AR and UAR. UAR is reflected in Other current assets on the Company’s Consolidated Balance Sheets and was $1.8 million and $2.4 million as of December 31, 2022 and December 31, 2021, respectively. Estimated credit losses for UAR were not material.

The information obtained from assessing historical experience, current economic conditions and reasonable and supportable forecasts were used to identify risk characteristics that can affect future credit loss experience. The historical analysis yielded one material risk factor, the geographical location of the customer. Specifically, historical experience showed that AR that was due from customers in the Asia Pacific region had experienced more credit losses than the other geographic areas listed in Note 15. Europe and Japan had significantly less credit loss experience when compared to Asia Pacific while North America’s credit loss experience was commensurate with the proportion of total AR that North America’s AR comprised. There were no other significant risk characteristics identified in the review of historical experience.

Below is a summary of the changes in the Company’s allowance for doubtful accounts for the years ended December 31, 2022, 2021 and 2020:


	Balance at Beginning of Period		Provision		Write-offs			Balance at End of Period
Year ended December 31, 2022	$	353	$	118	$	(177	)	$	294
Year ended December 31, 2021		648		159		(454	)		353
Year ended December 31, 2020		904		648		(904	)		648

Off-Balance Sheet Risk and Concentration of Credit Risk

The Company has no significant off-balance sheet risk, such as foreign exchange contracts, option contracts, or other foreign hedging arrangements. Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and trade accounts receivable. The Company maintains its cash and cash equivalents principally with accredited financial institutions of high credit standing. Although the Company deposits its cash with multiple financial institutions, its deposits, at times, may exceed federally insured limits. The Company generally has not experienced any material losses related to receivables from individual customers, or groups of customers. The Company does not require collateral. Due to these factors, no additional credit risk beyond amounts provided for collection losses is believed by management to be probable in the Company’s accounts receivable.

For the years ended December 31, 2022, 2021 and 2020, no individual customer accounted for more than 10% of total revenue. As of December 31, 2022 and 2021, no individual customer accounted for more than 10% of accounts receivable, net.

Concentration of Other Risks

The Company is dependent on certain content delivery network providers who provide digital media delivery functionality enabling the Company’s on-demand application service to function as intended for the Company’s customers and ultimate end-users. The disruption of these services could have a material adverse effect on the Company’s business, financial position, and results of operations.

Software Development Costs

Costs incurred to develop software applications used in the Company’s on-demand application services consist of (a) certain external direct costs of materials and services incurred in developing or obtaining internal-use computer software, and (b) payroll and payroll-related costs for employees who are directly associated with, and who devote time to, the project. These costs generally consist of internal labor during configuration, coding, and testing activities. Research and development costs incurred during the preliminary project stage or costs incurred for data conversion activities, training, maintenance and general and administrative or overhead costs are expensed as incurred. Capitalization begins when the preliminary project stage is complete, management, with the relevant authority, authorizes and commits to the funding of the software project, it is probable the project will be completed, the software will be used to perform the functions intended and certain functional and quality standards have been met. Qualified costs incurred during the operating stage of the Company’s software applications relating to upgrades and enhancements are capitalized to the extent it is probable that they will result in added functionality, while costs that cannot be separated between maintenance of, and minor upgrades and enhancements to, internal-use software are expensed as incurred. These capitalized costs are amortized on a straight-line basis over the expected useful life of the software, which is estimated to be three years. Capitalized internal-use software development costs are classified as “Software” within “Property and Equipment, net” in the accompanying consolidated balance sheets.

During the years ended December 31, 2022, 2021 and 2020, the Company capitalized $15.5 million, $7.7 million, and $6.7 million, respectively, of internal-use software development costs. The Company recorded amortization expense associated with its capitalized internal-use software development costs of $5.2 million, $3.6 million and $4.0 million for the years ended December 31, 2022, 2021 and 2020, respectively.

Leases

Under ASC 842, a right-of-use asset and lease liability is recorded for all leases and the statement of operations reflects the lease expense for operating leases and amortization/interest expense for financing leases. The Company does not apply the recognition requirements in the standard to a lease that at commencement date has a lease term of twelve months or less and does not contain a purchase option that it is reasonably certain to exercise and to not separate lease and related non-lease components.

The Company leases its facilities under non-cancelable operating leases. Right-of-use assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Many of the Company’s lessee agreements include options to extend the lease, which are not included in the minimum lease terms unless they are reasonably certain to be exercised.

Long-Lived Assets

The Company reviews long-lived assets and certain identifiable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. During this review, the Company re-evaluates the significant assumptions used in determining the original cost and estimated lives of long-lived assets. Although the assumptions may vary from asset to asset, they generally include operating results, changes in the use of the asset, cash flows, and other indicators of value. Management then determines whether the remaining useful life continues to be appropriate, or whether there has been an impairment of long-lived assets based primarily upon whether expected future undiscounted cash flows are sufficient to support the assets’ recovery. If impairment exists, the Company adjusts the carrying value of the asset to fair value, generally determined by a discounted cash flow analysis.

For the years ended December 31, 2022, 2021 and 2020, the Company has not identified any impairment of its long-lived assets.

Business Combinations

The Company records tangible and intangible assets acquired and liabilities assumed in business combinations under the purchase method of accounting. Amounts paid for each acquisition are allocated to the assets acquired and liabilities assumed

based on their fair values at the date of acquisition. The Company then allocates the purchase price in excess of net tangible assets acquired to identifiable intangible assets based on detailed valuations that use information and assumptions provided by management. Any excess purchase price over the fair value of the net tangible and intangible assets acquired and liabilities assumed is allocated to goodwill. If the fair value of the assets acquired exceeds the purchase price, the excess is recognized as a gain.

Significant management judgments and assumptions are required in determining the fair value of acquired assets and liabilities, particularly acquired intangible assets. The valuation of purchased intangible assets is based upon estimates of the future performance and cash flows from the acquired business. Each asset is measured at fair value from the perspective of a market participant.

If different assumptions are used, it could materially impact the purchase price allocation and adversely affect our results of operations, financial condition and cash flows.

For further discussion of the Company’s accounting policies related to business combinations, see Note 3.

Intangible Assets and Goodwill

Intangible assets that have finite lives are amortized over their estimated useful lives based on the pattern of consumption of the economic benefit or, if that pattern cannot be readily determined, on a straight-line basis and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, as discussed above.

Goodwill is not amortized, but is evaluated for impairment annually, or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Conditions that could trigger a more frequent impairment assessment include, but are not limited to, a significant adverse change in certain agreements, significant underperformance relative to historical or projected future operating results, an economic downturn in customers’ industries, increased competition, a significant reduction in our stock price for a sustained period or a reduction of our market capitalization relative to net book value. If there is an impairment, the amount of the impairment is on the excess of a reporting unit’s carrying amount over its fair value.

The Company has determined, based on its organizational structure, that it had one reporting unit as of December 31, 2022 and 2021. The Company evaluates impairment by comparing the estimated fair value of its reporting unit to its carrying value. The Company estimates fair value primarily utilizing the market approach and no impairments of goodwill have been identified.

Comprehensive (Loss) Income

Comprehensive (loss) income is defined as the change in equity of a business enterprise during a period from transactions, other events, and circumstances from non-owner sources. Accumulated other comprehensive loss is presented separately on the consolidated balance sheets and consists entirely of cumulative foreign translation adjustments as of December 31, 2022 and 2021.

Net (Loss) Income per Share

The Company calculates basic and diluted (loss) earnings per common share by dividing the (loss) earnings amount by the number of common shares outstanding during the period. The calculation of diluted earnings per common share includes the

effects of the assumed exercise of any outstanding stock options and the assumed vesting of shares of restricted stock awards, where dilutive.

The following table set forth the computations of basic and diluted (loss) earnings per share:


	Year Ended December 31,
(in thousands, except per share data)	2022			2021		2020
Net (loss) income	$	(9,015	)	$	5,397	$	(5,813	)

Weighted average shares used in computing basic earnings per share		41,831			40,717		39,473

Effect of weighted average dilutive stock-based awards		-			1,483		-

Weighted average shares used in computing diluted earnings per share		41,831			42,200		39,473

Net (loss) income per share—basic and diluted
Basic	$	(0.22	)	$	0.13	$	(0.15	)
Diluted	$	(0.22	)	$	0.13	$	(0.15	)

The following outstanding common shares have been excluded from the computation of dilutive (loss) earnings per share as of the periods indicated because such securities are anti-dilutive:


	Year Ended December 31,
	2022		2021		2020
Options outstanding		1,420		1,681		2,110
Restricted stock units outstanding		5,212		3,937		3,588
Total options and restricted stock units outstanding		6,632		5,618		5,698

Income Taxes

The Company accounts for income taxes in accordance with the asset and liability method. Under this method, deferred tax assets and liabilities are recognized based on temporary differences between the financial reporting and income tax bases of assets and liabilities using statutory rates. In addition, this method requires a valuation allowance against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

The Company accounts for uncertain tax positions recognized in the consolidated financial statements by prescribing a more-likely-than-not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Interest and penalties, if applicable, related to uncertain tax positions would be recognized as a component of income tax expense. The Company has no recorded liabilities for uncertain tax positions as of December 31, 2022 or 2021.

Stock-Based Compensation

At December 31, 2022, the Company had seven stock-based compensation plans, which are more fully described in Note 11.

The Company values its shares of common stock in connection with the issuance of stock-based equity awards using the closing price of the Company’s shares of common stock on the NASDAQ Global Market on the date of the grant. Accounting guidance requires stock-based payments to be accounted for under the fair value method. Under this method, the Company is required to record compensation cost based on the estimated fair value for stock-based awards granted over the requisite service periods for the individual awards, which generally equals the vesting periods.

For stock options issued under the Company’s stock-based compensation plans, the fair value of each option grant is estimated on the date of grant. For service-based options, the Company recognizes compensation expense on a straight-line basis over the requisite service period of the award.

The fair value of each option grant issued under the Company’s stock-based compensation plans was estimated using the Black-Scholes option-pricing model. The expected volatility of options granted has been determined using the historical volatility of the Company’s own common stock. The expected life of options has been determined utilizing the “simplified method”. The

simplified method is based on the average of the vesting tranches and the contractual life of each grant. The risk-free interest rate is based on a treasury instrument whose term is consistent with the expected life of the stock options. The Company has not paid, and does not anticipate paying, cash dividends on its common stock; therefore, the expected dividend yield is assumed to be zero.

For restricted stock units issued under the Company’s stock-based compensation plans, the fair value of each grant is calculated based on the Company’s stock price on the date of grant. For performance-based awards with service-based vesting conditions, the Company recognizes compensation expense based upon a review of the Company’s expected achievement against the specified targets. For performance-based awards with market-based vesting, the Company recognizes compensation expense as the requisite service is rendered by the employee, regardless of when, if ever, the market-based performance conditions are satisfied. The Monte-Carlo simulation model is used to estimate fair value of market-based performance restricted stock units. The Monte-Carlo simulation model calculates multiple potential outcomes for an award and establishes a fair value based on the most likely outcome. Key assumptions for the Monte-Carlo simulation model include the risk-free rate, expected volatility, expected dividends and the correlation coefficient.

Forfeitures are recognized as they occur.

Advertising Costs

Advertising costs are charged to operations as incurred. The Company incurred advertising costs of $4.8 million, $6.0 million and $2.6 million for the years ended December 31, 2022, 2021 and 2020, respectively.

Merger-related Costs

Merger-related costs consist of expenses related to mergers and acquisitions, integration costs and general corporate development activities. In 2022, merger-related costs incurred were primarily related to the acquisition of Wicket Labs and, to a lesser extent, general merger and related activities. In 2021, merger-related costs incurred were primarily related to general merger and related activities. In 2020, merger-related costs incurred were primarily related to the transition of Ooyala, Inc. customers to the Company’s technology, as a result of the Company's acquisition of online video player related assets from Ooyala, Inc. in 2019.

Recent Accounting Pronouncements and Standards

Recently Adopted Accounting Pronouncements

ASU No. 2021-10

In November 2021, the FASB issued ASU No. 2021-10, which improves the transparency of government assistance received by requiring the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on an entity's financial statements. Effective January 1, 2022, the Company adopted ASU 2021-10 on a prospective basis. The impact of adoption of this standard on the Company’s consolidated financial statements was not material. Please see Other Expense (Benefit) section of these Notes to Condensed Consolidated Financial Statements for government assistance received by the Company in 2021.

ASU No. 2021-08

In October 2021, the FASB issued ASU No. 2021-08, under which an acquirer must recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Effective January 1, 2022, the Company early adopted ASU 2021-08 on a prospective basis. The impact of adoption of this standard on the Company’s consolidated financial statements was not material.

Business Combinations

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Business Combinations

3. Business Combinations

On February 1, 2022, the Company acquired 100% of the outstanding shares of Wicket Labs, Inc. (“Wicket Labs”) a provider of subscriber and content insights, in exchange for common stock of the Company and cash, (“Wicket Acquisition”). At the closing, the Company issued 212,507 unregistered shares of common stock of the Company valued at approximately $2.0 million and approximately $15.0 million in cash, of which approximately $1.8 million of the cash consideration was held back to secure payment of any claims of indemnification for breaches or inaccuracies in the sellers’ representations and warranties, covenants and agreements. During the year ended December 31, 2022, the Company paid $100 of cash consideration held back to the sellers for the satisfaction of certain representations and warranties. The remaining cash consideration held back was included in Accrued Expenses at December 31, 2022 and released in full on February 8, 2023.

The Wicket Acquisition was accounted for using the purchase method of accounting in accordance with Accounting Standards Codification 805 — Business Combinations. Accordingly, the results of operations of the acquired company have been included in the accompanying condensed consolidated financial statements since the date of acquisition. The purchase price has been allocated to the tangible and intangible assets acquired and liabilities assumed based upon the respective estimates of fair value as of the date of the Wicket Acquisition, and using assumptions that the Company’s management believes are reasonable given the information currently available. The Company completed its valuation of its intangible assets, accounts receivable, deferred revenue and the valuation of the acquired deferred tax assets and liabilities during the year ended December 31, 2022. The final allocations of the purchase price to intangible assets, accounts receivable, deferred revenue, goodwill and any deferred tax assets and liabilities are included in these consolidated financial statements.

During the year ended December 31, 2022, the Company incurred $747 of merger-related costs related to the Wicket Acquisition.

The excess of the purchase price over the estimated amounts of net assets as of the effective date of the acquisition was allocated to goodwill in accordance with the accounting guidance. The factors contributing to the recognition of the amount of goodwill are based on several strategic and synergistic benefits that are expected to be realized from the Wicket Acquisition. These benefits include the acquired workforce and opportunities to expand the Company’s offerings in target market segments that use subscriber and content insights to make decisions. The goodwill is non-deductible for tax purposes.

The total purchase price for the Wicket Acquisition has been allocated as follows:


Cash	$	53
Accounts receivable and other assets		782
Identifiable intangible assets		4,382
Goodwill		13,957
Deferred revenue		(1,033	)
Deferred tax liabilities		(1,009	)
Other liabilities		(95	)
Total estimated purchase price	$	17,037

The following are the identifiable intangible assets acquired and their respective useful lives, as determined based on valuations:


	Amount		Useful Life (in years)
Developed technology	$	4,200		6
Customer relationships		182		5
Total	$	4,382

The fair value of the intangible assets has been estimated using the income approach in which the after-tax cash flows are discounted to present value. The cash flows are based on estimates used to price the transaction, and the discount rates applied were benchmarked with reference to the implied rate of return from the transaction model as well as the weighted average cost of capital.

Pro forma results of operations for the Wicket Acquisition have not been presented because the effect of the acquisition is not material to the Company's consolidated financial results. Revenue and earnings attributable to acquired operations since the date of the acquisition are included in the Company's consolidated statements of operations.

Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2022

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

4. Cash and Cash Equivalents

Cash and cash equivalents as of December 31, 2022 and 2021 consist of the following:


	December 31, 2022
Description	Contracted Maturity	Amortized Cost		Fair Market Value
Cash	Demand	$	31,852	$	31,852
Money market funds	Demand		42		42
Total cash and cash equivalents		$	31,894	$	31,894


	December 31, 2021
Description	Contracted Maturity	Amortized Cost		Fair Market Value
Cash	Demand	$	45,698	$	45,698
Money market funds	Demand		41		41
Total cash and cash equivalents		$	45,739	$	45,739

Property and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

5. Property and Equipment

Property and equipment consist of the following:


	December 31,
	2022		2021
Computer equipment	$	15,516	$	13,827
Software		60,534		43,598
Furniture and fixtures		4,775		3,163
Leasehold improvements		8,839		2,710
		89,664		63,298
Less accumulated depreciation and amortization		49,987		42,784
	$	39,677	$	20,514

Depreciation and amortization expense, which includes amortization expense associated with capitalized internal-use software development costs, for the years ended December 31, 2022, 2021 and 2020 was $7.3 million, $5.3 million and $5.3 million, respectively.

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

6. Revenue from Contracts with Customers

The Company primarily derives revenue from the sale of its online video platform, which enables its customers to publish and distribute video to Internet-connected devices quickly, easily and in a cost-effective and high-quality manner. Revenue is derived from three primary sources: (1) the subscription to its technology and related support; (2) hosting, bandwidth and encoding services; and (3) professional services, which include initiation, set-up and customization services.

The following summarizes the opening and closing balances of receivables, contract assets and contract liabilities from contracts with customers.


	Accounts Receivable, net		Contract Assets (current)		Deferred Revenue (current)		Deferred Revenue (non-current)		Total Deferred Revenue
Balance at December 31, 2022		26,004		1,786		61,597		360		61,957
Balance at December 31, 2021		29,866		2,375		62,057		114		62,171
Balance at December 31, 2020		29,305		2,078		58,741		811		59,552
Balance at December 31, 2019		31,181		1,871		49,260		299		49,559

Revenue recognized during the year ended December 31, 2022 from amounts included in deferred revenue at the beginning of the period was approximately $60.7 million. During the year ended December 31, 2022, the Company did not recognize any material revenue from performance obligations satisfied or partially satisfied in previous periods.

The assets recognized for costs to obtain a contract were $12.4 million and $12.2 million as of December 31, 2022 and December 31, 2021, respectively. Amortization expense recognized for costs to obtain a contract was $10.4 million, $12.7 million and $8.3 million during the years ended December 31, 2022, 2021 and 2020, respectively.

Transaction Price Allocated to Future Performance Obligations

As of December 31, 2022, the total aggregate transaction price allocated to the unsatisfied performance obligations for subscription and support contracts was approximately $153.3 million, of which approximately $120.1 million is expected to be recognized over the next 12 months. The Company expects to recognize substantially all of the remaining unsatisfied performance obligations by December 2025.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

7. Intangible Assets and Goodwill

Finite-lived intangible assets consist of the following as of December 31, 2022:


Description	Weighted Average Estimated Useful Life (in years)		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Developed technology		6	$	22,278	$	17,393	$	4,885
Customer relationships		9		15,669		10,275		5,394
Non-compete agreements		3		1,912		1,912		—
Tradename		3		368		368		—
Total			$	40,227	$	29,948	$	10,279

Finite-lived intangible assets consist of the following as of December 31, 2021:


Description	Weighted Average Estimated Useful Life (in years)		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Developed technology		7	$	18,038	$	15,636	$	2,402
Customer relationships		9		15,487		8,613		6,874
Non-compete agreements		3		1,912		1,912		—
Tradename		3		368		368		—
Total			$	35,805	$	26,529	$	9,276

The following table summarizes amortization expense related to intangible assets for the years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
	2022		2021		2020
Cost of subscription and support revenue	$	1,757	$	1,420	$	1,501
Sales and marketing		1,662		1,652		1,909
	$	3,419	$	3,072	$	3,410

The estimated remaining amortization expense for each of the five succeeding years and thereafter is as follows:


Year Ending December 31,	Amount
2023	$	3,910
2024		3,688
2025		2,142
2026		536
2027		3
2028 and thereafter		—
Total	$	10,279

The changes in the carrying amount of goodwill for the year ended December 31, 2022 were as follows:


Balance as of January 1, 2022	$	60,902
Wicket acquisition		13,957
Balance as of December 31, 2022	$	74,859

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

8. Leases

The Company’s corporate headquarters are located in Boston, Massachusetts, pursuant to a lease of approximately 40,000 square feet that terminates on September 30, 2032. The initial term of the lease is for ten years. The Company has the option to extend the lease for two successive five-year terms which were not recognized in the initial liability and right-of-use asset, as the Company does not expect to exercise the extension. The Company has a right of first offer to lease additional office space that becomes available within the 281 Summer Street premises. In connection with the office lease, the Company provided a security deposit, in the form of a letter of credit, in the amount of $0.8 million in January 2022. This letter of credit will be auto-renewed annually, unless a 60 day notice is received from the landlord. An automatic extension can only be implemented through November 30, 2032. This letter of credit is irrevocable and does not have a cash requirement other than the amount already set forth. In the event of a default, the landlord must provide written notice of default before drawing from the letter of credit as a security deposit, or to remedy the amount owed.

The Company leases offices in Tokyo, Japan; Sydney, Australia; Chennai, India; Seoul, South Korea; Singapore; London, England; Guadalajara, Mexico; Funchal, Portugal and Covilha, Portugal.

The Company’s rent expense was $5.1 million, $4.3 million, $7.4 million for the years ended December 31, 2022, 2021 and 2020, respectively.

The Company entered into one operating lease agreement in the current year, resulting in the recording of an initial liability and corresponding right-of-use asset of $1.2 million.

The weighted average remaining lease terms and discount rates were as follows:


	December 31,
	2022			2021			2020
Weighted average remaining lease term (years)	8.27			8.81			3.0
Weighted average discount rate		5.8	%		5.7	%		4.4	%

The weighted-average remaining non-cancelable lease term for the Company’s operating leases was 8.27 years at December 31, 2022. The weighted-average discount rate was 5.8% at December 31, 2022.

The Company’s operating leases expire at various dates through 2032. The following shows the undiscounted cash flows for the remaining years under operating leases at December 31, 2022:


Year Ending December 31,	Operating Lease Commitments
2023	$	4,597
2024		4,518
2025		3,155
2026		2,968
2027		2,938
2028 and thereafter		13,522
Total operating lease commitments		31,698
Less imputed interest		(7,013	)
Total lease liabilities	$	24,685

The Company’s discounted current operating lease liability and discounted non-current lease liability at December 31, 2022 were $4.2 million and $20.5 million, respectively.

In the fourth quarter of 2020 the Company subleased 100% of its London office through the remaining lease term. For the years ended December 31, 2022, 2021 and 2020 the Company recognized rent income of $811, $901 and $164, respectively, from the sublease which is included in Other (expense) income. Lease income relating to variable lease payments was immaterial.

The Company’s London sublease expires in December of 2024. The following table shows the undiscounted cash inflows from the London sublease for the remaining years at December 31, 2022:


Year Ending December 31,	Operating Sublease
2023	$	860
2024		885
2025		—
2026		—
Total operating sublease cash inflows	$	1,745

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal Matters

The Company, from time to time, is party to litigation arising in the ordinary course of business. Management does not believe that the outcome of these claims will have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Company based on the status of proceedings at this time.

Guarantees and Indemnification Obligations

The Company typically enters into indemnification agreements in the ordinary course of business. Pursuant to these agreements, the Company indemnifies and agrees to reimburse the indemnified party for losses and costs incurred by the indemnified party, generally the Company’s customers, in connection with patent, copyright, trade secret, or other intellectual property or personal right infringement claims by third parties with respect to the Company’s technology. The term of these indemnification agreements is generally perpetual after execution of the agreement. The Company has typically limited the maximum potential value of such potential future payments in relation to the value of the contract. The Company has received requests for indemnification from customers in connection with patent infringement suits brought against the customer by a third party. Based on historical experience and information known as of December 31, 2022, the Company has incurred minimal costs for the above guarantees and indemnities.

In certain circumstances, the Company warrants that its products and services will perform in all material respects in accordance with its standard published specification documentation in effect at the time of delivery of the licensed products and services to the customer for the warranty period of the product or service. To date, the Company has not incurred significant expense under its warranties and, as a result, the Company believes the estimated fair value of these agreements is immaterial.

Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Equity

10. Stockholders’ Equity

Common Stock

Common stockholders are entitled to one vote per share. Holders of common stock are entitled to receive dividends, when and if declared by the Board.

Common Stock Reserved for Future Issuance

At December 31, 2022, the Company has reserved the following shares of common stock for future issuance:


	December 31, 2022
Common stock options outstanding		1,419,767
Restricted stock unit awards outstanding		5,211,207
Shares available for issuance under all stock-based compensation plans		4,537,258
Total shares of authorized common stock reserved for future issuance		11,168,232

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-based Compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

11. Stock-Based Compensation

Stock-Based Compensation Plans

At December 31, 2022, the Company had seven stock-based compensation plans:

•

On February 8, 2022, the Company adopted the Brightcove Inc. 2022 Inducement Plan (the 2022 Plan). The 2022 Plan provides for the issuance of employment inducement awards to the Company’s Chief Executive Officer (CEO).

•

On March 25, 2021, the Board adopted, the Brightcove Inc. 2021 Stock Incentive Plan (the 2021 Plan) which was approved by the shareholders on May 11, 2021. The maximum number of shares of stock reserved and available for issuance under the 2021 Plan is 6,200,000 shares.

•

The 2018 Inducement Plan (the 2018 plan). Effective April 11, 2018, the Company adopted the 2018 Plan. The 2018 Plan provides for the issuance of stock options and restricted stock units to the Company’s CEO.

•

The Brightcove Inc. 2014 Stock Option Inducement Plan (the 2014 Stock Inducement Plan). In 2014, the Company adopted the 2014 Stock Inducement Plan in connection with the Unicorn asset purchase agreement.

•

The 2012 RSU Inducement Plan (the 2012 RSU Plan). In 2012, the Company adopted the 2012 RSU Plan in connection with the acquisition of Zencoder. The restricted stock units were settled in shares of the Company’s common stock upon vesting.

•

The 2012 Stock Incentive Plan (the 2012 Plan). The 2012 Plan provided for the issuance of incentive and non-qualified stock options, restricted stock, and other equity awards to the Company’s employees, officers, directors, consultants and advisors. In conjunction with the effectiveness of the 2021 Plan, the Board voted that no further stock options or other equity-based awards may be granted under the 2012 Plan.

•

The Amended and Restated 2004 Stock Option and Incentive Plan (the 2004 Plan). The 2004 Plan, like the 2012 Plan, provided for the issuance of incentive and non-qualified stock options, restricted stock, and other equity awards to the Company’s employees, officers, directors, consultants and advisors. In conjunction with the effectiveness of the 2012 Plan, the Board voted that no further stock options or other equity-based awards may be granted under the 2004 Plan.

The following table summarizes stock-based compensation expense as included in the consolidated statement of operations for the years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
	2022		2021		2020
Cost of subscription and support revenue	$	508	$	627	$	592
Cost of professional services and other revenue		433		401		314
Research and development		2,746		1,677		1,078
Sales and marketing		3,990		2,957		3,139
General and administrative		5,622		4,306		3,662
Other (expense) benefit		249		—		—
	$	13,548	$	9,968	$	8,785

As of December 31, 2022, there was $31.5 million of total unrecognized stock-based compensation expense related to stock-based awards that is expected to be recognized over a weighted-average period of 2.5 years.

Stock Options

The following is a summary of the stock option activity for all stock option plans during the years ended December 31, 2022, 2021 and 2020:


	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (In Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2019		2,479,423		$	8.96			$	1,558
Granted		178,584			10.60
Exercised		(272,692	)		8.13			$	1,041
Cancelled		(274,829	)		9.13
Outstanding at December 31, 2020		2,110,486		$	9.19
Granted		114,973			14.88
Exercised		(333,190	)		8.53			$	2,999
Cancelled		(210,792	)		10.26
Outstanding at December 31, 2021		1,681,477		$	9.59			$	1,938
Granted		—			0.00
Exercised		(28,400	)		6.24			$	40
Cancelled		(233,310	)		11.11
Outstanding at December 31, 2022		1,419,767		$	9.39		3.55	$	4
Exercisable at December 31, 2022		1,294,205		$	9.10		3.15	$	4


(1)	The aggregate intrinsic value was calculated based on the positive difference between the estimated fair value of the Company’s common stock on December 31, 2022, December 31, 2021, and December 31, 2020 of $5.23, $10.22, and $18.40 per share, respectively, or the date of exercise, as appropriate, and the exercise price of the underlying options.

The weighted-average fair value of options granted and assumptions utilized to determine such values are presented in the following table:


	Year Ended December 31,
	2022		2021			2020
Weighted-average fair value of options granted during the year	$	—	$	6.98		$	4.72

Risk-free interest rate		—		1.22	%		0.72	%
Expected volatility		—		48	%		46	%
Expected life (in years)		—		6.2			6.2
Expected dividend yield		—		—			—

Restricted Stock Units

The Company has entered into restricted stock unit (RSU) agreements with certain of its employees pursuant to the 2012 Plan, the 2021 Plan, and the 2022 Plan. Vesting occurs periodically at specified time intervals, ranging from three months to four years, and in specified percentages. Upon vesting, the holder will receive one share of the Company’s common stock for each unit vested.

Under the 2012 Plan, the Company granted restricted stock units to certain key executives, which contain both performance-based (“P-RSU”) and service-based vesting conditions (“S-RSU”). The Company measures compensation expense for these performance-based awards based upon a review of the Company’s expected achievement against specified financial performance targets. Compensation cost is recognized on a ratable basis over the requisite service period for each series of grants to the extent management has deemed that such awards are probable of vesting based upon the expected achievement against the specified targets. On a periodic basis, management reviews the Company’s expected performance and adjusts the compensation cost, if needed, at such time. The Company determined that the conditions for a portion of the performance-based restricted stock units were achieved in the first quarter of 2020. As such, the Company recognized $233 and $1.3 million of stock-based compensation expense relating to performance-based awards for the years ended December 31, 2021, and 2020 respectively. The Company did not recognize stock-based compensation expense relating to the aforementioned performance-based awards in the year ended December 31, 2022, as the Company determined that the conditions for further portions of the performance-based restricted stock units to vest were not achieved.

Under the 2022 Plan, the Company granted 800,000 restricted stock units to the Company's CEO, in connection with the commencement of his employment on March 28, 2022. Of the total restricted stock units granted, 300,000 are subject solely to service-based vesting conditions (the “RSUs”) and 500,000 are subject to both market-based and service-based vesting conditions

(the “PSUs”). The RSUs vest in equal annual installments over three years following March 28, 2022. The market-based vesting conditions applicable to the PSUs are achieved only if the volume weighted average price of the Company’s common stock during any 20 consecutive trading day period in the four year performance period following the CEO’s start date, March 28, 2022, equals or exceeds stock price hurdles ranging from $12.50 to $30.00, increasing in seven increments of $2.50. The percentage of the award that is earned upon achievement of each stock price hurdle is 10% of the PSUs for each of the first two achievement tiers, 12.5% for each of the next four achievement tiers and 15% for each of the final two achievement tiers. The PSUs vest 50% upon achievement of a stock price hurdle and 50% upon the earlier of the one-year anniversary of such achievement date or March 28, 2025, subject to the CEO’s continued employment through the applicable vesting date.

For restricted stock units with market-based performance conditions, the cost of the awards is recognized as the requisite service is rendered by the employee, regardless of when, if ever, the market-based performance conditions are satisfied. The Monte-Carlo simulation model is used to estimate fair value of market-based performance restricted stock units. The Monte-Carlo simulation model calculates multiple potential outcomes for an award and establishes a fair value based on the most likely outcome. Key assumptions for the Monte-Carlo simulation model include the risk-free rate, expected volatility, expected dividends and the correlation coefficient.

The following table summarizes the P-RSU and S-RSU activity during the year ended December 31, 2022, 2021, and 2020:


	S-RSU Shares			Weighted Average Grant Date Fair Value		P-RSU Shares			Weighted Average Grant Date Fair Value		Total RSU Shares			Weighted Average Grant Date Fair Value
Unvested by December 31, 2019		1,983,364		$	9.03		1,643,000		$	9.03		3,626,364		$	9.03
Granted		1,139,209			10.74		386,551			15.78		1,525,760			12.02
Vested and issued		(611,428	)		9.23		(219,605	)		8.81		(831,033	)		9.10
Cancelled		(510,729	)		9.00		(222,145	)		7.65		(732,874	)		8.64
Unvested by December 31, 2020		2,000,416		$	10.30		1,587,801		$	10.40		3,588,217		$	10.35

	S-RSU Shares			Weighted Average Grant Date Fair Value		P-RSU Shares			Weighted Average Grant Date Fair Value		Total RSU Shares			Weighted Average Grant Date Fair Value
Unvested by December 31, 2020		2,000,416		$	10.30		1,587,801		$	10.40		3,588,217		$	10.35
Granted		2,269,341			12.24		64,011			12.65		2,333,352			12.25
Vested and issued		(680,769	)		9.85		(181,910	)		8.74		(862,679	)		9.62
Cancelled		(673,268	)		11.67		(448,730	)		9.59		(1,121,998	)		10.84
Unvested by December 31, 2021		2,915,720		$	11.66		1,021,172		$	11.04		3,936,892		$	11.50

	S-RSU Shares			Weighted Average Grant Date Fair Value		P-RSU Shares			Weighted Average Grant Date Fair Value		Total RSU Shares			Weighted Average Grant Date Fair Value
Unvested by December 31, 2021		2,915,720		$	11.66		1,021,172		$	11.04		3,936,892		$	11.50
Granted		3,803,691			6.94		500,000			8.11		4,303,691			7.08
Vested and issued		(824,127	)		11.63		—			0.00		(824,127	)		11.63
Cancelled		(1,356,935	)		10.09		(848,314	)		11.06		(2,205,249	)		10.47
Unvested by December 31, 2022		4,538,349		$	8.19		672,858		$	8.62		5,211,207		$	6.66

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

12. Income Taxes

Loss before the (benefit) provision for income taxes consists of the following jurisdictional (loss) income:


	Year Ended December 31,
	2022			2021		2019
Domestic	$	(11,391	)	$	4,136	$	(7,489	)
Foreign		2,324			2,063		2,294
Total	$	(9,067	)	$	6,199	$	(5,195	)

The (benefit) provision for income taxes in the accompanying consolidated financial statements consists of the following:


	Year Ended December 31,
	2022			2021			2020
Current provision:
Federal	$	-		$	-		$	-
State		66			7			8
Foreign		880			801			815
Total current		946			808			823
Deferred (benefit):
Federal		(834	)		1			(5	)
State		(168	)		2			(5	)
Foreign		4			(9	)		(195	)
Total deferred		(998	)		(6	)		(205	)
Total (benefit) provision	$	(52	)	$	802		$	618

A reconciliation of the U.S. federal statutory rate to the Company’s effective tax rate is as follows:


	Year Ended December 31,
	2022	2021	2020
Tax at statutory rates	(21.0%)	(21.0%)	(21.0%)
State income taxes	(8.8%)	3.4%	(9%)
Change in tax rate	(0.8%)	(0.2%)	(3.9%)
Permanent differences	18.6%	4.4%	11.6%
Global intangible low-taxed income	19.9%	0%	0%
Foreign rate differential	2.8%	(2.6%)	3.4%
Research and development credits	(9.1%)	7.6%	(13.7%)
Change in valuation allowance	(1.4%)	(3.4%)	44.2%
Other, net	(0.7%)	(1.1%)	0.2%
Effective tax rate	(0.5%)	(12.9%)	11.8%

The income tax effect of each type of temporary difference and carryforward as of December 31, 2022 and 2021 is as follows:


	As of December 31,
	2022			2021
Deferred tax assets:
Net operating loss carry-forwards	$	41,239		$	47,228
Tax credit carry-forwards		14,588			13,392
Stock-based compensation		2,127			1,400
Fixed Assets		134			286
Account receivable reserves		340			235
Accrued compensation		1,050			1,648
Lease Liability		5,524			6,136
Capitalized research expenditures		6,733			—
Other temporary differences		829			1,167
Total deferred tax assets		72,564			71,492
Deferred tax liabilities:
Other deferred tax liabilities		(4,046	)		(2,889	)
ROU Asset		(4,578	)		(6,033	)
Intangible assets		(3,305	)		(3,720	)
Total deferred tax liabilities		(11,929	)		(12,642	)
Valuation allowance		(60,717	)		(58,912	)
Net deferred tax asset (liability)	$	(82	)	$	(62	)

The Company is required to compute income tax expense in each jurisdiction in which it operates. This process requires the Company to project its current tax liability and estimate its deferred tax assets and liabilities, including net operating loss (NOL)

and tax credit carry-forwards. In assessing the ability to realize the net deferred tax assets, management considers whether it is more likely than not that some portion or all of the net deferred tax assets will not be realized.

The Company has provided a valuation allowance against substantially all of its remaining U.S. net deferred tax assets as of December 31, 2022 and December 31, 2021, as based upon the level of historical U.S. losses and future projections over the period in which the net deferred tax assets are deductible, at this time, management believes it is more likely than not that the Company will not realize the benefits of these deductible differences. The Company has provided a valuation allowance against the net deferred tax assets of its subsidiaries in Australia, United Kingdom, and Mexico as of December 31, 2022 and December 31, 2021 largely based on the significant weight of negative evidence given to the consolidated worldwide cumulative loss position for the current year and the prior two years. The increase in the valuation allowance from 2021 to 2022 of $1.8 million principally relates to the current year U.S. losses and generation of federal and state research and development tax credits. The Company maintains net deferred tax liabilities for temporary differences related to its Japanese and Portuguese subsidiaries.

As of December 31, 2022, the Company had federal net operating losses of approximately $164.0 million, of which $118.3 million are available to offset future taxable income, if any, through 2037 and $45.7 million which are available to offset future taxable income indefinitely. As of December 31, 2022, the Company had state net operating losses of approximately $82.8 million, of which $79.7 million are available to offset future taxable income, if any, through 2041 and $3.1 million which are available to offset future taxable income indefinitely. The Company also had federal and state research and development tax credits of $9.8 million and $6.0 million, respectively, which expire in various amounts through 2041. The net operating loss and tax credit amounts are subject to annual limitations under Section 382 change of ownership rules under the U.S. Internal Revenue Code of 1986, as amended. This could limit the amount of tax attributes that can be utilized annually to offset future taxable income or tax liabilities. The amount of the annual limitation is determined based on the value of the Company immediately prior to the ownership change. Subsequent ownership changes may further affect the limitation in future years. The Company has not conducted an assessment to determine whether there may have been a Section 382 ownership change from June 30, 2014, the date of the most recent completed study, through December 31, 2022. If a change in ownership were to have occurred during that period, and resulted in the restriction of net operating loss and tax credit carryforwards, the reduction in the related deferred tax asset would be offset with a corresponding reduction in the valuation allowance.

Effective January 1, 2022, the Tax Cuts and Jobs Act of 2017 requires the Company to capitalize, and subsequently amortize R&D expenses over five years for research activities conducted in the U.S. and over fifteen years for research activities conducted outside of the U.S. As of December 31, 2022, the Company has recorded a deferred tax asset of $6.7 million related to the capitalized R&D expenditures which is offset by a decrease in its net operating loss carryforward.

At December 31, 2022 and 2021, the Company had no recorded liabilities for uncertain tax positions, nor any accrued interest or penalties related to uncertain tax positions.

The Company files income tax returns in the U.S. federal tax jurisdiction, various state and various foreign jurisdictions. The Company is currently open to examination under the statute of limitations by the Internal Revenue Service and state jurisdictions for the tax years ended 2019 through 2022. Since the Company is in a U.S. loss carryforward position, carryforward tax attributes generated in prior years may still be adjusted upon future examination if they have or will be used in a future period. Additionally, certain non-U.S. jurisdictions are no longer subject for income tax examinations by authorities for tax years before 2017.

No additional U.S. income taxes or foreign withholding taxes have been provided for any additional outside basis differences inherent in the Company’s foreign entities as these amounts continue to be indefinitely reinvested in foreign operations based on management’s current intentions. Determining the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis difference in these entities (i.e., basis difference in excess of that subject to the one-time transition tax) is not practicable.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Debt

13. Debt

On December 28, 2020, the Company entered into an amended and restated loan and security agreement with a lender (the “Loan Agreement”) providing for up to a $30.0 million asset-based line of credit (the “Line of Credit”). Borrowings under the Line of Credit are secured by substantially all of the Company’s assets, excluding its intellectual property. Outstanding amounts under the Line of Credit accrue interest at a rate as follows: (i) for prime rate advances, the greater of (A) the prime rate and (B) 4%, and (ii) for LIBOR advances, the greater of (A) the LIBOR rate plus 225 basis points and (B) 4%. Under the Loan Agreement, the Company must comply with certain financial covenants, including maintaining a minimum asset coverage ratio. If the outstanding principal during any month is at least $15.0 million, the Company must also maintain a minimum net income threshold based on non-GAAP operating measures. Failure to comply with these covenants, or the occurrence of an event of

default, could permit the lenders under the Line of Credit to declare all amounts borrowed under the Line of Credit, together with accrued interest and fees, to be immediately due and payable. The Line of Credit agreement will expire on December 28, 2023. The Company was in compliance with all applicable covenants under the Line of Credit as of December 31, 2022 and there were no borrowings outstanding as of December 31, 2022.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Accrued Expenses

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Accrued Expenses

14. Accrued Expenses

Accrued expenses consist of the following:


	December 31,
	2022		2021
Accrued payroll and related benefits	$	10,082	$	8,536
Accrued sales and other taxes		3,098		2,950
Accrued professional fees and outside contractors		3,057		2,233
Accrued content delivery		5,684		4,190
Accrued other liabilities		4,956		3,016
Total	$	26,877	$	20,925

Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

15. Segment Information

Disclosure requirements about segments of an enterprise and related information establishes standards for reporting information regarding operating segments in annual financial statements and requires selected information of those segments to be presented in interim financial reports issued to stockholders. Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker, or decision-making group, in making decisions on how to allocate resources and assess performance. The Company’s chief decision maker is its chief executive officer. The Company and the chief decision maker view the Company’s operations and manage its business as one operating segment.

Geographic Data

Total revenue to unaffiliated customers by geographic area, based on the location of the customer, was as follows:


	Year Ended December 31,
	2022		2021		2020
Revenue:
North America	$	118,755	$	119,079	$	107,686
Europe		36,177		37,947		34,001
Japan		21,988		25,272		25,745
Asia Pacific		33,645		28,261		28,984
Other		443		534		937
Total revenue	$	211,008	$	211,093	$	197,353

North America is comprised of revenue from the United States, Canada and Mexico. Revenue from customers located in the United States was $111.8, $111.5 and $99.6 million during the years ended December 31, 2022, 2021 and 2020, respectively. Other than the United States and Japan, no other country contributed more than 10% of the Company’s total revenue during the years ended December 31, 2022 and 2021.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

401(k) Savings Plan

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

401(k) Savings Plan

16. 401(k) Savings Plan

The Company maintains a defined contribution savings plan covering all eligible U.S. employees under Section 401(k) of the Internal Revenue Code. Company contributions to the plan may be made at the discretion of the Board. During the years ended December 31, 2022, 2021 and 2020, the Company has made contributions to the plan of $770, $412 and $434, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Business Description (Policies)

12 Months Ended

Dec. 31, 2022

Business Description

Brightcove Inc. (the Company) is a global provider of cloud services for video which enable its customers to publish and distribute video to Internet-connected devices quickly, easily and in a cost-effective and high-quality manner.

The Company is headquartered in Boston, Massachusetts and was incorporated in the state of Delaware on August 24, 2004.

Basis of Presentation

Use of Estimates and Uncertainties

Principles of Consolidation

Foreign Currency Translation

Cash and Cash Equivalents

Property and Equipment

The Company estimates the useful life of property and equipment as follows:


		Estimated Useful Life (in Years)
Computer equipment		3
Software		3 - 6
Furniture and fixtures		5
Leasehold improvements		Shorter of lease term or the estimated useful life

Fair Value of Financial Instruments

•

Level 1: Observable inputs, such as quoted prices for identical assets or liabilities in active markets;

•

The valuation techniques that may be used to measure fair value are as follows:

A. Market approach — Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

C. Cost approach — Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost).

The Company’s financial instruments carried at fair value were less than $100 as of December 31, 2022 and 2021.

Revenue

1) Identify the contract with a customer

2) Identify the performance obligations in the contract

3) Determine the transaction price

4) Allocate the transaction price to performance obligations in the contract

5) Recognize revenue when or as the Company satisfies a performance obligation

Disaggregation of Revenue

Subscription and Support

subscription arrangements are treated as a single performance obligation and the related fees are recognized as revenue ratably over the term of the underlying arrangement.

Professional Services and Other Revenue

Contracts with Multiple Performance Obligations

Costs to Obtain a Contract

Cost of Revenue

Allowance for Doubtful Accounts

Below is a summary of the changes in the Company’s allowance for doubtful accounts for the years ended December 31, 2022, 2021 and 2020:


	Balance at Beginning of Period		Provision		Write-offs			Balance at End of Period
Year ended December 31, 2022	$	353	$	118	$	(177	)	$	294
Year ended December 31, 2021		648		159		(454	)		353
Year ended December 31, 2020		904		648		(904	)		648

Off-Balance Sheet Risk and Concentration of Credit Risk

Concentration of Other Risks

Software Development Costs

Leases

Long-Lived Assets

For the years ended December 31, 2022, 2021 and 2020, the Company has not identified any impairment of its long-lived assets.

Business Combinations

If different assumptions are used, it could materially impact the purchase price allocation and adversely affect our results of operations, financial condition and cash flows.

For further discussion of the Company’s accounting policies related to business combinations, see Note 3.

Intangible Assets and Goodwill

Comprehensive (Loss) Income

Net (Loss) Income per Share

effects of the assumed exercise of any outstanding stock options and the assumed vesting of shares of restricted stock awards, where dilutive.

The following table set forth the computations of basic and diluted (loss) earnings per share:


	Year Ended December 31,
(in thousands, except per share data)	2022			2021		2020
Net (loss) income	$	(9,015	)	$	5,397	$	(5,813	)

Weighted average shares used in computing basic earnings per share		41,831			40,717		39,473

Effect of weighted average dilutive stock-based awards		-			1,483		-

Weighted average shares used in computing diluted earnings per share		41,831			42,200		39,473

Net (loss) income per share—basic and diluted
Basic	$	(0.22	)	$	0.13	$	(0.15	)
Diluted	$	(0.22	)	$	0.13	$	(0.15	)

The following outstanding common shares have been excluded from the computation of dilutive (loss) earnings per share as of the periods indicated because such securities are anti-dilutive:


	Year Ended December 31,
	2022		2021		2020
Options outstanding		1,420		1,681		2,110
Restricted stock units outstanding		5,212		3,937		3,588
Total options and restricted stock units outstanding		6,632		5,618		5,698

Income Taxes

Stock-Based Compensation

At December 31, 2022, the Company had seven stock-based compensation plans, which are more fully described in Note 11.

Forfeitures are recognized as they occur.

Advertising Costs

Merger-related Costs

Recent Accounting Pronouncements and Standards

Recently Adopted Accounting Pronouncements

ASU No. 2021-10

ASU No. 2021-08

Accounting Standards Update 2014-09 [Member]

Revenue

1) Identify the contract with a customer

2) Identify the performance obligations in the contract

3) Determine the transaction price

4) Allocate the transaction price to performance obligations in the contract

5) Recognize revenue when or as the Company satisfies a performance obligation

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Property and equipment Useful Life

The Company estimates the useful life of property and equipment as follows:


		Estimated Useful Life (in Years)
Computer equipment		3
Software		3 - 6
Furniture and fixtures		5
Leasehold improvements		Shorter of lease term or the estimated useful life

Schedule of Allowance for Doubtful Accounts

Below is a summary of the changes in the Company’s allowance for doubtful accounts for the years ended December 31, 2022, 2021 and 2020:


	Balance at Beginning of Period		Provision		Write-offs			Balance at End of Period
Year ended December 31, 2022	$	353	$	118	$	(177	)	$	294
Year ended December 31, 2021		648		159		(454	)		353
Year ended December 31, 2020		904		648		(904	)		648

Schedule of Computations of Basic and Diluted (Loss) Earnings Per Share

The following table set forth the computations of basic and diluted (loss) earnings per share:


	Year Ended December 31,
(in thousands, except per share data)	2022			2021		2020
Net (loss) income	$	(9,015	)	$	5,397	$	(5,813	)

Weighted average shares used in computing basic earnings per share		41,831			40,717		39,473

Effect of weighted average dilutive stock-based awards		-			1,483		-

Weighted average shares used in computing diluted earnings per share		41,831			42,200		39,473

Net (loss) income per share—basic and diluted
Basic	$	(0.22	)	$	0.13	$	(0.15	)
Diluted	$	(0.22	)	$	0.13	$	(0.15	)

Summary of Outstanding Common Shares Excluded from Computation of Dilutive (Loss) Earnings per Share

The following outstanding common shares have been excluded from the computation of dilutive (loss) earnings per share as of the periods indicated because such securities are anti-dilutive:


	Year Ended December 31,
	2022		2021		2020
Options outstanding		1,420		1,681		2,110
Restricted stock units outstanding		5,212		3,937		3,588
Total options and restricted stock units outstanding		6,632		5,618		5,698

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Schedule of Total Purchase Price

The total purchase price for the Wicket Acquisition has been allocated as follows:


Cash	$	53
Accounts receivable and other assets		782
Identifiable intangible assets		4,382
Goodwill		13,957
Deferred revenue		(1,033	)
Deferred tax liabilities		(1,009	)
Other liabilities		(95	)
Total estimated purchase price	$	17,037

Schedule of Identifiable Intangible Assets Acquired and Their respective Useful Lives

The following are the identifiable intangible assets acquired and their respective useful lives, as determined based on valuations:


	Amount		Useful Life (in years)
Developed technology	$	4,200		6
Customer relationships		182		5
Total	$	4,382

Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2022

Cash and Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents

Cash and cash equivalents as of December 31, 2022 and 2021 consist of the following:


	December 31, 2022
Description	Contracted Maturity	Amortized Cost		Fair Market Value
Cash	Demand	$	31,852	$	31,852
Money market funds	Demand		42		42
Total cash and cash equivalents		$	31,894	$	31,894


	December 31, 2021
Description	Contracted Maturity	Amortized Cost		Fair Market Value
Cash	Demand	$	45,698	$	45,698
Money market funds	Demand		41		41
Total cash and cash equivalents		$	45,739	$	45,739

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Summary of Property and equipment

Property and equipment consist of the following:


	December 31,
	2022		2021
Computer equipment	$	15,516	$	13,827
Software		60,534		43,598
Furniture and fixtures		4,775		3,163
Leasehold improvements		8,839		2,710
		89,664		63,298
Less accumulated depreciation and amortization		49,987		42,784
	$	39,677	$	20,514

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2022

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Summary of Receivables, Contract Assets and Contract Liabilities from Contracts with Customers

The following summarizes the opening and closing balances of receivables, contract assets and contract liabilities from contracts with customers.


	Accounts Receivable, net		Contract Assets (current)		Deferred Revenue (current)		Deferred Revenue (non-current)		Total Deferred Revenue
Balance at December 31, 2022		26,004		1,786		61,597		360		61,957
Balance at December 31, 2021		29,866		2,375		62,057		114		62,171
Balance at December 31, 2020		29,305		2,078		58,741		811		59,552
Balance at December 31, 2019		31,181		1,871		49,260		299		49,559

Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Finite Lived Intangible Assets

Finite-lived intangible assets consist of the following as of December 31, 2022:


Description	Weighted Average Estimated Useful Life (in years)		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Developed technology		6	$	22,278	$	17,393	$	4,885
Customer relationships		9		15,669		10,275		5,394
Non-compete agreements		3		1,912		1,912		—
Tradename		3		368		368		—
Total			$	40,227	$	29,948	$	10,279

Finite-lived intangible assets consist of the following as of December 31, 2021:


Description	Weighted Average Estimated Useful Life (in years)		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Developed technology		7	$	18,038	$	15,636	$	2,402
Customer relationships		9		15,487		8,613		6,874
Non-compete agreements		3		1,912		1,912		—
Tradename		3		368		368		—
Total			$	35,805	$	26,529	$	9,276

Amortization Expense Related to Intangible Assets

The following table summarizes amortization expense related to intangible assets for the years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
	2022		2021		2020
Cost of subscription and support revenue	$	1,757	$	1,420	$	1,501
Sales and marketing		1,662		1,652		1,909
	$	3,419	$	3,072	$	3,410

Estimated Remaining Amortization Expense

The estimated remaining amortization expense for each of the five succeeding years and thereafter is as follows:


Year Ending December 31,	Amount
2023	$	3,910
2024		3,688
2025		2,142
2026		536
2027		3
2028 and thereafter		—
Total	$	10,279

Schedule of Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the year ended December 31, 2022 were as follows:


Balance as of January 1, 2022	$	60,902
Wicket acquisition		13,957
Balance as of December 31, 2022	$	74,859

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
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-Paragraph 1
-Subparagraph (h)
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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+ Details

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Weighted Average Remaining Lease Terms and Discount Rates

The weighted average remaining lease terms and discount rates were as follows:


	December 31,
	2022			2021			2020
Weighted average remaining lease term (years)	8.27			8.81			3.0
Weighted average discount rate		5.8	%		5.7	%		4.4	%

Schedule of Maturity Analysis of Undiscounted Cash Flows of Operating Lease

The Company’s operating leases expire at various dates through 2032. The following shows the undiscounted cash flows for the remaining years under operating leases at December 31, 2022:


Year Ending December 31,	Operating Lease Commitments
2023	$	4,597
2024		4,518
2025		3,155
2026		2,968
2027		2,938
2028 and thereafter		13,522
Total operating lease commitments		31,698
Less imputed interest		(7,013	)
Total lease liabilities	$	24,685

Summary of Undiscounted Cash Inflows from Operating Sublease

The Company’s London sublease expires in December of 2024. The following table shows the undiscounted cash inflows from the London sublease for the remaining years at December 31, 2022:


Year Ending December 31,	Operating Sublease
2023	$	860
2024		885
2025		—
2026		—
Total operating sublease cash inflows	$	1,745

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Shares of Common Stock Reserved for Future Issuance

At December 31, 2022, the Company has reserved the following shares of common stock for future issuance:


	December 31, 2022
Common stock options outstanding		1,419,767
Restricted stock unit awards outstanding		5,211,207
Shares available for issuance under all stock-based compensation plans		4,537,258
Total shares of authorized common stock reserved for future issuance		11,168,232

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock-based Compensation Expense

The following table summarizes stock-based compensation expense as included in the consolidated statement of operations for the years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
	2022		2021		2020
Cost of subscription and support revenue	$	508	$	627	$	592
Cost of professional services and other revenue		433		401		314
Research and development		2,746		1,677		1,078
Sales and marketing		3,990		2,957		3,139
General and administrative		5,622		4,306		3,662
Other (expense) benefit		249		—		—
	$	13,548	$	9,968	$	8,785

Summary of Stock Option Activity

The following is a summary of the stock option activity for all stock option plans during the years ended December 31, 2022, 2021 and 2020:


	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (In Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2019		2,479,423		$	8.96			$	1,558
Granted		178,584			10.60
Exercised		(272,692	)		8.13			$	1,041
Cancelled		(274,829	)		9.13
Outstanding at December 31, 2020		2,110,486		$	9.19
Granted		114,973			14.88
Exercised		(333,190	)		8.53			$	2,999
Cancelled		(210,792	)		10.26
Outstanding at December 31, 2021		1,681,477		$	9.59			$	1,938
Granted		—			0.00
Exercised		(28,400	)		6.24			$	40
Cancelled		(233,310	)		11.11
Outstanding at December 31, 2022		1,419,767		$	9.39		3.55	$	4
Exercisable at December 31, 2022		1,294,205		$	9.10		3.15	$	4


(1)	The aggregate intrinsic value was calculated based on the positive difference between the estimated fair value of the Company’s common stock on December 31, 2022, December 31, 2021, and December 31, 2020 of $5.23, $10.22, and $18.40 per share, respectively, or the date of exercise, as appropriate, and the exercise price of the underlying options.

Weighted Average Fair Value of Options Granted and Assumptions Utilized

The weighted-average fair value of options granted and assumptions utilized to determine such values are presented in the following table:


	Year Ended December 31,
	2022		2021			2020
Weighted-average fair value of options granted during the year	$	—	$	6.98		$	4.72

Risk-free interest rate		—		1.22	%		0.72	%
Expected volatility		—		48	%		46	%
Expected life (in years)		—		6.2			6.2
Expected dividend yield		—		—			—

Restricted Stock Units Activity

The following table summarizes the P-RSU and S-RSU activity during the year ended December 31, 2022, 2021, and 2020:


	S-RSU Shares			Weighted Average Grant Date Fair Value		P-RSU Shares			Weighted Average Grant Date Fair Value		Total RSU Shares			Weighted Average Grant Date Fair Value
Unvested by December 31, 2019		1,983,364		$	9.03		1,643,000		$	9.03		3,626,364		$	9.03
Granted		1,139,209			10.74		386,551			15.78		1,525,760			12.02
Vested and issued		(611,428	)		9.23		(219,605	)		8.81		(831,033	)		9.10
Cancelled		(510,729	)		9.00		(222,145	)		7.65		(732,874	)		8.64
Unvested by December 31, 2020		2,000,416		$	10.30		1,587,801		$	10.40		3,588,217		$	10.35

	S-RSU Shares			Weighted Average Grant Date Fair Value		P-RSU Shares			Weighted Average Grant Date Fair Value		Total RSU Shares			Weighted Average Grant Date Fair Value
Unvested by December 31, 2020		2,000,416		$	10.30		1,587,801		$	10.40		3,588,217		$	10.35
Granted		2,269,341			12.24		64,011			12.65		2,333,352			12.25
Vested and issued		(680,769	)		9.85		(181,910	)		8.74		(862,679	)		9.62
Cancelled		(673,268	)		11.67		(448,730	)		9.59		(1,121,998	)		10.84
Unvested by December 31, 2021		2,915,720		$	11.66		1,021,172		$	11.04		3,936,892		$	11.50

	S-RSU Shares			Weighted Average Grant Date Fair Value		P-RSU Shares			Weighted Average Grant Date Fair Value		Total RSU Shares			Weighted Average Grant Date Fair Value
Unvested by December 31, 2021		2,915,720		$	11.66		1,021,172		$	11.04		3,936,892		$	11.50
Granted		3,803,691			6.94		500,000			8.11		4,303,691			7.08
Vested and issued		(824,127	)		11.63		—			0.00		(824,127	)		11.63
Cancelled		(1,356,935	)		10.09		(848,314	)		11.06		(2,205,249	)		10.47
Unvested by December 31, 2022		4,538,349		$	8.19		672,858		$	8.62		5,211,207		$	6.66

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Loss before Provision for Income Taxes

Loss before the (benefit) provision for income taxes consists of the following jurisdictional (loss) income:


	Year Ended December 31,
	2022			2021		2019
Domestic	$	(11,391	)	$	4,136	$	(7,489	)
Foreign		2,324			2,063		2,294
Total	$	(9,067	)	$	6,199	$	(5,195	)

Schedule of Provision for Income Taxes

The (benefit) provision for income taxes in the accompanying consolidated financial statements consists of the following:


	Year Ended December 31,
	2022			2021			2020
Current provision:
Federal	$	-		$	-		$	-
State		66			7			8
Foreign		880			801			815
Total current		946			808			823
Deferred (benefit):
Federal		(834	)		1			(5	)
State		(168	)		2			(5	)
Foreign		4			(9	)		(195	)
Total deferred		(998	)		(6	)		(205	)
Total (benefit) provision	$	(52	)	$	802		$	618

Schedule of Reconciliation of U.S. Federal Statutory Rate to Effective Tax Rate

A reconciliation of the U.S. federal statutory rate to the Company’s effective tax rate is as follows:


	Year Ended December 31,
	2022	2021	2020
Tax at statutory rates	(21.0%)	(21.0%)	(21.0%)
State income taxes	(8.8%)	3.4%	(9%)
Change in tax rate	(0.8%)	(0.2%)	(3.9%)
Permanent differences	18.6%	4.4%	11.6%
Global intangible low-taxed income	19.9%	0%	0%
Foreign rate differential	2.8%	(2.6%)	3.4%
Research and development credits	(9.1%)	7.6%	(13.7%)
Change in valuation allowance	(1.4%)	(3.4%)	44.2%
Other, net	(0.7%)	(1.1%)	0.2%
Effective tax rate	(0.5%)	(12.9%)	11.8%

Schedule of Income Tax Effect of Each Type of Temporary Difference and Carryforward

The income tax effect of each type of temporary difference and carryforward as of December 31, 2022 and 2021 is as follows:


	As of December 31,
	2022			2021
Deferred tax assets:
Net operating loss carry-forwards	$	41,239		$	47,228
Tax credit carry-forwards		14,588			13,392
Stock-based compensation		2,127			1,400
Fixed Assets		134			286
Account receivable reserves		340			235
Accrued compensation		1,050			1,648
Lease Liability		5,524			6,136
Capitalized research expenditures		6,733			—
Other temporary differences		829			1,167
Total deferred tax assets		72,564			71,492
Deferred tax liabilities:
Other deferred tax liabilities		(4,046	)		(2,889	)
ROU Asset		(4,578	)		(6,033	)
Intangible assets		(3,305	)		(3,720	)
Total deferred tax liabilities		(11,929	)		(12,642	)
Valuation allowance		(60,717	)		(58,912	)
Net deferred tax asset (liability)	$	(82	)	$	(62	)

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Components of Accrued Expenses

Accrued expenses consist of the following:


	December 31,
	2022		2021
Accrued payroll and related benefits	$	10,082	$	8,536
Accrued sales and other taxes		3,098		2,950
Accrued professional fees and outside contractors		3,057		2,233
Accrued content delivery		5,684		4,190
Accrued other liabilities		4,956		3,016
Total	$	26,877	$	20,925

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Total Revenue to Unaffiliated Customers by Geographic Area, Based on Location of Customer

Total revenue to unaffiliated customers by geographic area, based on the location of the customer, was as follows:


	Year Ended December 31,
	2022		2021		2020
Revenue:
North America	$	118,755	$	119,079	$	107,686
Europe		36,177		37,947		34,001
Japan		21,988		25,272		25,745
Asia Pacific		33,645		28,261		28,984
Other		443		534		937
Total revenue	$	211,008	$	211,093	$	197,353

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 USD ($) Segment Customer Plans	Dec. 31, 2021 USD ($) Segment Customer	Dec. 31, 2020 USD ($) Customer
Accounting Policies [Line Items]
Short-term investments	$ 0	$ 0
Long-term investments	$ 0	$ 0
Number of customers accounted for more than 10% of total revenue \| Customer	0	0	0
Threshold percentage of total revenues required for major customer classification	10.00%	10.00%	10.00%
Number of customers accounted for more than 10% of net accounts receivable \| Customer	0	0
Capitalized software development costs	$ 15,500,000	$ 7,700,000	$ 6,700,000
Amortization of capitalized internal-use software development costs	5,200,000	3,600,000	4,000,000.0
Recorded liabilities for uncertain tax position	$ 0	0
Number of stock-based compensation plans \| Plans	7
Advertising costs	$ 4,800,000	6,000,000.0	$ 2,600,000
Financial instruments carried at fair value	100,000	100,000
Reversed deferred rent liability	$ 1,800,000	$ 2,400,000
Number of Reporting Units \| Segment	1	1
Impairment of goodwill	$ 0
ASU No. 2021-10 [Member]
Accounting Policies [Line Items]
Change in accounting principle, ASU, Adopted	true
Change in accounting principle, ASU, Adoption date	Jan. 01, 2022
Change in accounting principle, ASU, immaterial effect	true
ASU No. 2021-08 [Member]
Accounting Policies [Line Items]
Change in accounting principle, ASU, Adopted	true
Change in accounting principle, ASU, early adoption	true
Change in accounting principle, ASU, Adoption date	Jan. 01, 2022
Change in accounting principle, ASU, immaterial effect	true
Software [Member]
Accounting Policies [Line Items]
Estimated Useful Life (in Years)	3 years

Summary of Significant Accounting Policies - Summary of Property and Equipment Useful Life (Detail)	12 Months Ended
	Dec. 31, 2022
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in Years)	3 years
Software [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in Years)	3 years
Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in Years)	3 years
Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in Years)	6 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in Years)	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	Shorter of lease term or the estimated useful life

Summary of Significant Accounting Policies - Summary of Changes in Company's Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Credit Loss [Abstract]
Balance at Beginning of Period	$ 353	$ 648	$ 904
Provision	118	159	648
Write-offs	(177)	(454)	(904)
Balance at End of Period	$ 294	$ 353	$ 648

Summary of Significant Accounting Policies - Schedule of Computations of Basic and Diluted (Loss) Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Earnings Per Share Basic And Diluted [Abstract]
Net (loss) income	$ (9,015)	$ 5,397	$ (5,813)
Weighted average shares used in computing basic earnings per share	41,831	40,717	39,473
Effect of weighted average dilutive stock-based awards	0	1,483	0
Weighted average shares used in computing diluted earnings per share	41,831	42,200	39,473
Net (loss) income per share-basic and diluted
Basic	$ (0.22)	$ 0.13	$ (0.15)
Diluted	$ (0.22)	$ 0.13	$ (0.15)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Summary of Significant Accounting Policies - Summary of Outstanding Common Shares Excluded from Computation of Dilutive Earnings (Loss) per Share (Detail) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total options and restricted stock units outstanding	6,632	5,618	5,698
Options Outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total options and restricted stock units outstanding	1,420	1,681	2,110
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total options and restricted stock units outstanding	5,212	3,937	3,588

Business Combinations - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Feb. 01, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Business combination acquisition related costs		$ 747	$ 300	$ 5,768
Common Stock [Member]
Business Acquisition [Line Items]
Common stock ,Shares		212,507	0	0
Common stock issued upon acquisition		$ 0	$ 0	$ 0
Wicket Acquisition [Member]
Business Acquisition [Line Items]
Cash	$ 15,000
Held back for secure payment of claims	$ 1,800
cash consideration paid		100
Percentage Of Outstanding Shares	100.00%
Wicket Acquisition [Member] \| Common Stock [Member]
Business Acquisition [Line Items]
Common stock ,Shares	212,507
Common stock issued upon acquisition	$ 2,000
Wicket Labs, Inc [Member]
Business Acquisition [Line Items]
Business combination acquisition related costs		$ 747

Business Combinations - Schedule of Total Purchase Price (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 74,859	$ 60,902
Wicket Acquisition [Member]
Business Acquisition [Line Items]
Cash	53
Accounts receivable and other assets	782
Identifiable intangible assets	4,382
Goodwill	13,957
Deferred revenue	(1,033)
Deferred tax liabilities	(1,009)
Other liabilities	(95)
Total estimated purchase price	$ 17,037

Business Combinations - Schedule of Identifiable Intangible Assets Acquired and Their respective Useful Lives (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Wicket Acquisition [Member]
Total	$ 4,382
Developed Technology [Member]
Useful Life	6 years	7 years
Developed Technology [Member] \| Wicket Acquisition [Member]
Total	$ 4,200
Useful Life	6 years
Customer Relationships [Member]
Useful Life	9 years	9 years
Customer Relationships [Member] \| Wicket Acquisition [Member]
Total	$ 182
Useful Life	5 years

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Investment Holdings [Line Items]
Amortized Cost	$ 31,894	$ 45,739
Fair Market Value	31,894	45,739
Cash [Member]
Investment Holdings [Line Items]
Amortized Cost	31,852	45,698
Fair Market Value	31,852	45,698
Money Market Funds [Member]
Investment Holdings [Line Items]
Amortized Cost	42	41
Fair Market Value	$ 42	$ 41

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 89,664	$ 63,298
Less accumulated depreciation and amortization	49,987	42,784
Property and equipment, net	39,677	20,514
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	15,516	13,827
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	60,534	43,598
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,775	3,163
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 8,839	$ 2,710

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization, expense	$ 7.3	$ 5.3	$ 5.3

Revenue from Contracts with Customers - Summary of Receivables, Contract Assets and Contract Liabilities from Contracts with Customers (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Accounts Receivable, net	$ 26,004	$ 29,866
Deferred Revenue (current)	61,597	62,057
Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, net	26,004	29,866	$ 29,305	$ 31,181
Contract Assets (current)	1,786	2,375	2,078	1,871
Deferred Revenue (current)	61,597	62,057	58,741	49,260
Deferred Revenue (non- current)	360	114	811	299
Total Deferred Revenue	$ 61,957	$ 62,171	$ 59,552	$ 49,559

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue recognized	$ 60.7
Assets recognized to obtain a contract	12.4	$ 12.2
Amortization expense recognized to obtain a contract	$ 10.4	$ 12.7	$ 8.3
Subscription and Support Revenue [Member]
Revenue, performance obligation, description of timing	2025
Unsatisfied performance obligations	$ 153.3
Subscription and Support Revenue [Member] \| Next Twelve Months [Member]
Unsatisfied performance obligations	$ 120.1

Intangible Assets and Goodwill - Finite Lived Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Gross Carrying Value	$ 40,227	$ 35,805
Finite Lived Intangible Assets Accumulated Amortization	29,948	26,529
Finite Lived Intangible Assets Net Carrying Value	$ 10,279	$ 9,276
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Weighted Average Estimated Useful Life (in years)	6 years	7 years
Finite Lived Intangible Assets Gross Carrying Value	$ 22,278	$ 18,038
Finite Lived Intangible Assets Accumulated Amortization	17,393	15,636
Finite Lived Intangible Assets Net Carrying Value	$ 4,885	$ 2,402
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Weighted Average Estimated Useful Life (in years)	9 years	9 years
Finite Lived Intangible Assets Gross Carrying Value	$ 15,669	$ 15,487
Finite Lived Intangible Assets Accumulated Amortization	10,275	8,613
Finite Lived Intangible Assets Net Carrying Value	$ 5,394	$ 6,874
Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Weighted Average Estimated Useful Life (in years)	3 years	3 years
Finite Lived Intangible Assets Gross Carrying Value	$ 1,912	$ 1,912
Finite Lived Intangible Assets Accumulated Amortization	$ 1,912	$ 1,912
Tradename [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Weighted Average Estimated Useful Life (in years)	3 years	3 years
Finite Lived Intangible Assets Gross Carrying Value	$ 368	$ 368
Finite Lived Intangible Assets Accumulated Amortization	$ 368	$ 368

Intangible Assets and Goodwill - Summarizes Amortization Expense Related Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amortization Of Intangible Assets [Line Items]
Amortization expense related to intangible assets	$ 3,419	$ 3,072	$ 3,410
Cost of Subscription and Support Revenue [Member]
Amortization Of Intangible Assets [Line Items]
Amortization expense related to intangible assets	1,757	1,420	1,501
Sales and Marketing [Member]
Amortization Of Intangible Assets [Line Items]
Amortization expense related to intangible assets	$ 1,662	$ 1,652	$ 1,909

Intangible Assets and Goodwill - Estimated Remaining Amortization Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 3,910
2024	3,688
2025	2,142
2026	536
2027	3
2028 and thereafter
Finite Lived Intangible Assets Net Carrying Value	$ 10,279	$ 9,276

Intangible Assets and Goodwill - Schedule of Changes in the Carrying Amount of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance	$ 60,902
Wicket acquisition	13,957
Balance	$ 74,859

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Leases - Additional Information (Detail) $ in Thousands	12 Months Ended
Leases - Additional Information (Detail) $ in Thousands	Dec. 31, 2022 USD ($) Leases SquareFeet	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease rent expense	$ 5,100	$ 4,300	$ 7,400
Weighted-average remaining non-cancelable lease term	8 years 3 months 7 days	8 years 9 months 21 days	3 years
Weighted-average discount rate	5.80%	5.70%	4.40%
Percentage of property subleased	100.00%
Number of operating lease agreement entered in the current year \| Leases	1
Operating lease right-of-use asset	$ 18,671	$ 24,891
Operating lease liability current	4,157	2,600
Operating lease liability noncurrent	20,528	22,801
New Office Lease Agreement [Member]
Lessee, Lease, Description [Line Items]
Operating lease liability current	4,200
Operating lease liability noncurrent	20,500
Property Available for Operating Lease [Member]
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset	$ 1,200
Office Building [Member]
Lessee, Lease, Description [Line Items]
Leases square feet \| SquareFeet	40,000
Operating lease expiry date	Sep. 30, 2032
Operating leases obligations under leasing arrangements value				$ 800
Operating lease, Term of contract	10 years
Operating lease, Option to extend	option to extend the lease for two successive five-year terms
Lessee, Operating lease, Option to extend, Term	two successive five-year
Notice period	60 days
Operating leases obligations under leasing arrangements, Date through which an automatic extension can be implemented	Nov. 30, 2032
Other Operating Income (Expense)
Lessee, Lease, Description [Line Items]
Rent income from sublease recognised	$ 811	$ 901	$ 164

Leases - Schedule of Weighted Average Remaining Lease Terms and Discount Rates (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lease, Cost [Abstract]
Weighted average remaining lease term (years)	8 years 3 months 7 days	8 years 9 months 21 days	3 years
Weighted average discount rate	5.80%	5.70%	4.40%

Leases - Undiscounted Cash Flows Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 4,597
2024	4,518
2025	3,155
2026	2,968
2027	2,938
2028 and thereafter	13,522
Total operating lease commitments	31,698
Less imputed interest	(7,013)
Total lease liabilities	$ 24,685

Leases - Summary of Undiscounted Cash Inflows from Operating Sublease (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Future Minimum Sublease Rentals, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
2023	$ 860
2024	885
2025	0
2026	0
Total operating sublease cash inflows	$ 1,745

Stockholders' Equity - Schedule of Shares of Common Stock Reserved for Future Issuance (Detail)	Dec. 31, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Common stock options outstanding	1,419,767
Restricted stock unit awards outstanding	5,211,207
Shares available for issuance under all stock-based compensation plans	4,537,258
Total shares of authorized common stock reserved for future issuance	11,168,232

Stock based Compensation - Additional Information (Detail) $ / shares in Units, $ in Thousands		12 Months Ended
	Mar. 28, 2022 $ / shares shares	Dec. 31, 2022 USD ($) Plans shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Mar. 25, 2021 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock based compensation expense \| $		$ 13,548	$ 9,968	$ 8,785
Unrecognized stock-based compensation expense \| $		$ 31,500
Weighted average period		2 years 6 months
Number of stock-based compensation plans \| Plans		7
RSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards, granted		4,303,691	2,333,352	1,525,760
RSUs [Member] \| Service Based Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards, granted		3,803,691	2,269,341	1,139,209
Two Thousand and Twenty Plan [Member] \| RSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock based compensation expense \| $			$ 233	$ 1,300
2021 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum number of shares of stock reserved and available for issuance					6,200,000
2022 Inducement Plan [Member] \| RSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	3 years
2022 Inducement Plan [Member] \| RSUs [Member] \| Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards, granted	800,000
2022 Inducement Plan [Member] \| RSUs [Member] \| Chief Executive Officer [Member] \| Service Based Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards, granted	300,000
2022 Inducement Plan [Member] \| RSUs [Member] \| Chief Executive Officer [Member] \| Market-Based and Service-Based Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards, granted	500,000
2022 Inducement Plan [Member] \| PSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of award earned upon each of first two achievement tiers	10.00%
Percentage of award earned upon each of next four achievement tiers	12.50%
Percentage of award earned upon each of final two achievement tiers	15.00%
2022 Inducement Plan [Member] \| PSUs [Member] \| Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	4 years
Number of consecutive trading day	20 days
Increments of share price \| $ / shares	$ 2.50
Percentage of award vest upon achievement of stock price	50.00%
Percentage of award vest upon earlier of one year anniversary of achievement	50.00%
2022 Inducement Plan [Member] \| Minimum [Member] \| RSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		3 months
2022 Inducement Plan [Member] \| Minimum [Member] \| PSUs [Member] \| Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock price \| $ / shares	$ 12.50
2022 Inducement Plan [Member] \| Maximum [Member] \| RSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		4 years
2022 Inducement Plan [Member] \| Maximum [Member] \| PSUs [Member] \| Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock price \| $ / shares	$ 30.00

Stock Based Compensation - Summarizes Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	$ 13,548	$ 9,968	$ 8,785
Subscription and Support Revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	508	627	592
Professional Services and Other Revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	433	401	314
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	2,746	1,677	1,078
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	3,990	2,957	3,139
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	5,622	4,306	3,662
Other (Expense) Benefit [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	$ 249	$ 0	$ 0

Stock Based Compensation - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares, Outstanding Ending Balance	1,419,767
Options Outstanding [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares, Outstanding Beginning Balance	1,681,477	2,110,486	2,479,423
Shares, Granted	0	114,973	178,584
Shares, Exercised	(28,400)	(333,190)	(272,692)
Shares, Cancelled	(233,310)	(210,792)	(274,829)
Shares, Outstanding Ending Balance	1,419,767	1,681,477	2,110,486
Shares, Exercisable	1,294,205
Weighted-Average Exercise Price, Outstanding Beginning Balance	$ 9.59	$ 9.19	$ 8.96
Weighted-Average Exercise Price, Granted	0.00	14.88	10.60
Weighted-Average Exercise Price, Exercised	6.24	8.53	8.13
Weighted-Average Exercise Price, Cancelled	11.11	10.26	9.13
Weighted-Average Exercise Price, Outstanding Ending Balance	9.39	$ 9.59	$ 9.19
Weighted-Average Exercise Price, Exercisable	$ 9.10
Weighted-Average Remaining Contractual Term, Outstanding	3 years 6 months 18 days
Weighted-Average Remaining Contractual Term, Exercisable	3 years 1 month 24 days
Aggregate Intrinsic Value, Exercised	$ 40	$ 2,999	$ 1,041
Aggregate Intrinsic Value, Outstanding	4	$ 1,938		$ 1,558
Aggregate Intrinsic Value, Exercisable	$ 4

Stock Based Compensation - Summary of Stock Option Activity (Parenthetical) (Detail) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Options Outstanding [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate Intrinsic Value, Estimated per share fair value of common stock	$ 5.23	$ 10.22	$ 18.40

Stock Based Compensation - Weighted Average Fair Value of Options Granted and Assumptions Utilized (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of options granted during the year		$ 6.98	$ 4.72
Risk-free interest rate		1.22%	0.72%
Expected volatility		48.00%	46.00%
Expected life (in years)		6 years 2 months 12 days	6 years 2 months 12 days
Expected dividend yield	0.00%	0.00%	0.00%

Stock Based Compensation - Summary of RSU Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested Shares, Ending Balance	5,211,207
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested Shares, Beginning Balance	3,936,892	3,588,217	3,626,364
Granted	4,303,691	2,333,352	1,525,760
Vested and issued	(824,127)	(862,679)	(831,033)
Cancelled	(2,205,249)	(1,121,998)	(732,874)
Unvested Shares, Ending Balance	5,211,207	3,936,892	3,588,217
Weighted Average Grant Date Fair Value, Beginning Balance	$ 11.50	$ 10.35	$ 9.03
Weighted Average Grant Date Fair Value, Granted	7.08	12.25	12.02
Weighted Average Grant Date Fair Value, Vested and issued	11.63	9.62	9.10
Weighted Average Grant Date Fair Value, Cancelled	10.47	10.84	8.64
Weighted Average Grant Date Fair Value, Ending Balance	$ 6.66	$ 11.50	$ 10.35
RSUs [Member] \| Service Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested Shares, Beginning Balance	2,915,720	2,000,416	1,983,364
Granted	3,803,691	2,269,341	1,139,209
Vested and issued	(824,127)	(680,769)	(611,428)
Cancelled	(1,356,935)	(673,268)	(510,729)
Unvested Shares, Ending Balance	4,538,349	2,915,720	2,000,416
Weighted Average Grant Date Fair Value, Beginning Balance	$ 11.66	$ 10.30	$ 9.03
Weighted Average Grant Date Fair Value, Granted	6.94	12.24	10.74
Weighted Average Grant Date Fair Value, Vested and issued	11.63	9.85	9.23
Weighted Average Grant Date Fair Value, Cancelled	10.09	11.67	9.00
Weighted Average Grant Date Fair Value, Ending Balance	$ 8.19	$ 11.66	$ 10.30
RSUs [Member] \| Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested Shares, Beginning Balance	1,021,172	1,587,801	1,643,000
Granted	500,000	64,011	386,551
Vested and issued		(181,910)	(219,605)
Cancelled	(848,314)	(448,730)	(222,145)
Unvested Shares, Ending Balance	672,858	1,021,172	1,587,801
Weighted Average Grant Date Fair Value, Beginning Balance	$ 11.04	$ 10.40	$ 9.03
Weighted Average Grant Date Fair Value, Granted	8.11	12.65	15.78
Weighted Average Grant Date Fair Value, Vested and issued	0.00	8.74	8.81
Weighted Average Grant Date Fair Value, Cancelled	11.06	9.59	7.65
Weighted Average Grant Date Fair Value, Ending Balance	$ 8.62	$ 11.04	$ 10.40

Income Taxes - Schedule of Loss before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure By Jurisdiction [Abstract]
Domestic	$ (11,391)	$ 4,136		$ (7,489)
Foreign	2,324	2,063		2,294
(Loss) income before income taxes	$ (9,067)	$ 6,199	$ (5,195)	$ (5,195)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126941158&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Schedule of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current provision:
Federal	$ 0	$ 0	$ 0
State	66	7	8
Foreign	880	801	815
Total current	946	808	823
Deferred (benefit):
Federal	(834)	1	(5)
State	(168)	2	(5)
Foreign	4	(9)	(195)
Total deferred	(998)	(6)	(205)
Total (benefit) provision	$ (52)	$ 802	$ 618

Income Taxes - Schedule of Reconciliation of U.S. Federal Statutory Rate to Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Tax at statutory rates	(21.00%)	(21.00%)	(21.00%)
State income taxes	(8.80%)	3.40%	(9.00%)
Change in tax rate	(0.80%)	(0.20%)	(3.90%)
Permanent differences	18.60%	4.40%	11.60%
Global intangible low-taxed income	19.90%	0.00%	0.00%
Foreign rate differential	2.80%	(2.60%)	3.40%
Research and development credits	(9.10%)	7.60%	(13.70%)
Change in valuation allowance	(1.40%)	(3.40%)	44.20%
Other, net	(0.70%)	(1.10%)	0.20%
Effective tax rate	(0.50%)	(12.90%)	11.80%

Income Taxes - Schedule of Income Tax Effect of Each Type of Temporary Difference and Carryforward (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carry-forwards	$ 41,239	$ 47,228
Tax credit carry-forwards	14,588	13,392
Stock-based compensation	2,127	1,400
Fixed Assets	134	286
Account receivable reserves	340	235
Accrued compensation	1,050	1,648
Lease Liability	5,524	6,136
Capitalized research expenditures	6,733	0
Other temporary differences	829	1,167
Total deferred tax assets	72,564	71,492
Deferred tax liabilities:
Other deferred tax liabilities	(4,046)	(2,889)
ROU Asset	(4,578)	(6,033)
Intangible assets	(3,305)	(3,720)
Total deferred tax liabilities	(11,929)	(12,642)
Valuation allowance	(60,717)	(58,912)
Net deferred tax asset (liability)	$ (82)	$ (62)

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Increase in valuation allowance	$ 1,800
Net operating losses carried forward, expiration date	Dec. 31, 2041
Research and development tax credit, expiration date	Dec. 31, 2041
Recorded liabilities for uncertain tax position	$ 0	$ 0
Loss from operations	(8,032)	7,574	$ (5,323)
Capitalized research expenditures	$ 6,733	$ 0
U.S
Income Taxes [Line Items]
Capitalized R & D expenses	5 years
Non U.S
Income Taxes [Line Items]
Capitalized R & D expenses	15 years
Federal [Member]
Income Taxes [Line Items]
Net operating losses	$ 118,300
Research and development tax credits	9,800
Loss from operations	164,000
Operating Loss Carryforwards Indefinate Carryforward	45,700
State [Member]
Income Taxes [Line Items]
Net operating losses	82,800
Research and development tax credits	6,000
State [Member] \| Tax Year 2019 [Member]
Income Taxes [Line Items]
Net operating losses	3,100
State [Member] \| Tax Year 2039 [Member]
Income Taxes [Line Items]
Net operating losses	$ 79,700

Debt - Additional Information (Detail)	12 Months Ended
Debt - Additional Information (Detail)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Line of Credit maturity date	Dec. 28, 2023
Debt instrument term	If the outstanding principal during any month is at least $15.0 million, the Company must also maintain a minimum net income threshold based on non-GAAP operating measures.
Secured Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit, agreement start date	Dec. 28, 2020
Line of credit maximum borrowing capacity	$ 30,000,000.0
Percentage points added to prime rate or LIBOR	4.00%
Borrowings outstanding	$ 0
Minimum [Member]
Debt Instrument [Line Items]
Minimum outstanding principal threshold limit	$ 15,000,000.0
Minimum [Member] \| Secured Line of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Percentage points added to prime rate or LIBOR	225.00%

Accrued Expenses - Components of Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Accrued payroll and related benefits	$ 10,082	$ 8,536
Accrued sales and other taxes	3,098	2,950
Accrued professional fees and outside contractors	3,057	2,233
Accrued content delivery	5,684	4,190
Accrued other liabilities	4,956	3,016
Total	$ 26,877	$ 20,925

Segment Information - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from customers	$ 211,008	$ 211,093	$ 197,353
Number of operating segment \| Segment	1
Revenue percentage from other country to the company's total revenue	10.00%	10.00%	10.00%
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from customers	$ 111,800	$ 111,500	$ 99,600

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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+ Details

Segment Information - Total Revenue to Unaffiliated Customers by Geographic Area, Based on Location of Customer (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 211,008	$ 211,093	$ 197,353
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	118,755	119,079	107,686
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	36,177	37,947	34,001
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	21,988	25,272	25,745
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	33,645	28,261	28,984
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 443	$ 534	$ 937

- Definition

+ References

+ Details

401(k) Savings Plan - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Contribution made under the plan	$ 770	$ 412	$ 434