Hey, good afternoon, everyone. Welcome to Oppenheimer's 26th Annual Technology, Internet, and Communications Conference. We have the best for the last of the day. Brightcove is presenting today. We have Marc DeBevoise, who's the CEO, and Rob Noreck, the CFO, who's gonna go through a presentation. You know, on the bottom of your screen, there is a dialogue box. If you'd like to submit questions, submit those over, and I'll ask him those your on your behalf, and then we'll take those at the end of the presentation. Without any further delay, Marc, Rob, thanks for joining us. We appreciate you, we'd love to hear your story. Thank you. Absolutely. Thanks a lot, and I'll just throw our safe harbor statement up there. Take a quick second to read through this, and then I will quickly hand it over to Marc to walk through our business vision and strategy. Thanks, Rob, and great to be here. Thanks for, for having us. Look, we'll start and close with our investment highlights. I think as you get to know our story, you'll see these things to be apparent, but we are an industry-defining, software-based technology company, very much known for our reliability, our high-quality solutions, and our experience in managing all things streaming. Streaming video and audio, but mostly video. We are playing in a market that is growing, both from the end-user perspective and the end-market perspective. We serve both media and enterprise customers with our streaming technology platform. We are a global reach company with a diversified client base of over 2,000 customers, and we believe there's significant expansion to grow that in multiple markets. We have a clear product and services innovation path and vision, and it's funded by our existing operations, not, sort of additional, you know, capital and other intensive investments. Relatively new, I'm about a year and a half-- a year and change into the job, but the number of people I've added to the team, expert, and experienced team, along with some key veterans, like Rob and others, who have, have stuck with the company, to see us through this next phase of growth. We're a strong recurring SaaS revenue model company, a debt-free balance sheet. I believe we have an undervalued company with a great growth opportunity and revenue, but also especially EBITDA, free cash flow, and hopefully for everybody here, shareholder returns. With that, why don't I share a little bit about our vision, our mission, our strategy, how we're sort of going to market, and then I'll turn it over to Rob for the financials. We wanna be the most trusted streaming technology company in the world. I actually would argue we might be there already, but we're getting there, step by step. By most trusted, we mean, both, you know, the way people rely on our solutions, but also the depth and breadth at which we're deployed. Our mission is to deliver, the highest quality, most scalable and secure streaming technology platform, and solutions for any brand, company, or creator to own their own digital future. We really believe that doing it yourself or doing nothing in streaming on either the media or enterprise side of our go-to-market and market businesses is the wrong answer, and we believe we can help folks really own their future in a cost-efficient and effective way and also in a way that can help them grow their businesses. What do we do? We help media companies and enterprise companies effectively do three things. We help them manage, distribute, and monetize their content. If you're a media company, like a Yahoo, like an AMC Networks, like Sky Mexico, like the Premier League, we help you take the content you have, whether it's on demand or live, push it out over, you know, store it, encode it, transcode it, push it out over the internet, and monetize it. We also, for enterprises and some media companies, too, help them communicate with their audiences and their employees. Then finally, we help them market and sell products using video as a key aided piece of their marketing stack to help move the needle from their customer perspective. We do this with a technology platform, on the next slide, Rob, that is built for these two end markets. We really serve those three use cases. It's a Media Studio, which is what we sell to media companies, Marketing Studio for the marketing use case, and Communications Studio for that communications use case. They do sort of different things, but they're built on the same platform, right? They are all built on what's called our Video Cloud platform, which allows folks to ingest and manage video content from the beginning, from... You know, once you've created that content, you can store it with us. You can ingest what's called encode and transcode that content. We do it highly effectively and cost efficiently. We can help you create sites, apps, channels, and experiences, whether they're web-based, mobile-based, CTV. We have all those pieces baked into the platform. We can help you distribute that content, whether it be to social media, whether it be to your own sites and apps, whether it be to third parties. Then finally, we help you analyze that, right? We have a full suite of analytics and insights tools that allow you to manage both the customer experience and also what you're doing with your content and how to maximize the value of it, regardless of the use case. We layer that with a series of expert advisory and customization services, like any other great, you know, SaaS company, to be able to build out, you know, custom experiences and, and robust pieces for them. We serve over 2,000 customers today. About 500-600 are in what we call the media space. These are likely higher-value customers for us in most cases, and these are the likes of the types of customers you see in our roster. They're both large digital media companies, large media entities. Generally, you see sports leagues, you see, you know, streaming, you know, SVOD providers. You see ad-supported, you know, streaming in here as well. We support all the business models, all the capabilities, with a blue-chip customer base here. That really helps us, you know, be one of the largest streamers in the world. I liken it to, you know, we're sort of in that top echelon of overall traffic of streaming is going through our platform and our capabilities, up there with the big, you know, five or six media and streaming companies in the world. Then there's a 1,500 or more enterprise customer base that we serve for that marketing, that communications use case. You'll see companies like Home Depot, which are effectively acting like a media company when they publish the 10,000+ videos they get a month from their vendors and suppliers to go on their website and on their social media. To folks like Wendy's, who use it to communicate with their franchisees, or Ford with their dealerships, or 3M with their internal constituencies. You, you name it, we sort of solve those problems for those larger enterprises. We've-- when I came in about, you know, 15, 16 months ago, we looked at the market, both the end user trends and the client business trends, and wanted to make sure our strategy was aligned with where the market was headed. You know, first things first, streaming is a growing market. There are a number of data points on the next page that sort of give you the understanding and depth that, you know, streaming is big, and it's going to continue to be big, and is still growing, despite some of the headwinds you see in those big 6 media companies. We all want to talk about those big 6 ones, but streaming is a much broader business. 90% of global internet users stream video on a weekly basis. The global time spent viewing is up 14% year-over-year, last year. It's continuing to grow this year. You know, in the U.S., you see digital video viewership has surpassed TV. We'll go do that on the next slide in a second. You know, a number, you know, the number of services that each household is now using, especially in the U.S., is massive. It's now up to almost 7, and it's a $300 billion business in the next 5 years. We view it as we're going into a growing market. That market, though, has changed in the past few years. Big media was sort of the big growth, going through COVID. You saw their growth rates going very, you know, meaningfully higher over that period, and they have since come down. That doesn't mean they're shrinking, it just means they're growing slower. The investment that big media made in content and in capabilities was massive. I was part of that. I used to be the chief digital officer at Paramount Global, formerly ViacomCBS. Formerly, I was at CBS for a number of years and helped launch, as the founder of CBS All Access, which eventually became Paramount+. You know, we built our own technology, or at least integrated a number of other technology pieces to create our solution. I think what we're seeing in the future is that from now on, that cost efficiency needs to be, you know, more highly targeted in how you look at the technology stack. They don't want to cut content costs. They'd much prefer to cut technology costs, and every service does not need to be rebuilt from scratch. And we have a technology solution that I think supplies very well to these types of companies. Now, we're not anticipating that the big six are the, are the end-all be-all of our business. We do have deals with many of them for smaller parts of their tech stack, but that outsourcedness is going to stretch well beyond those top four or five companies. If you go to the next slide, you'll see that Nielsen shows that nearly 40% of all long-form viewing methods is streaming. The really interesting piece here is not that those top 5-10 companies that are part of big media or big streaming are growing, it's that the other bucket is growing at 5%. It's been growing meaningfully year-over-year, that's 200+ services. This is a U.S. or sort of English language-focused chart on the left. What you'll see in our customer base is that we stretch across the globe. We have regional leaders like BBC and Sky Mexico and Coupang out of South Korea, or TVer out of Japan, One 31 out of Thailand, and leading global digital media companies like News Corp or Yahoo, as well as targeted services. AMC runs a number of those, MasterClass. These are all in what you would consider the other bucket on that page, but these are meaningfully sized streamers around the globe. We think global services growth is gonna be driven by dozens, if not hundreds, of these services to, to continue to grow and thrive around the globe. We also think there's a play for us in the long run, and we only have a couple of these in our client roster today, the creators that have been the large growth on YouTube and other platforms of video viewing for younger people. Those creators are realizing that the monetization models of those, those social media networks are going to limit them, and that there are unique ways that these creators may be able to go direct-to-consumer base. There are platforms like us, which are relatively inexpensive to launch a direct-to-consumer service that will enable many of these, these folks to go direct to consumer over their own platforms going forward. We're excited about where this opportunity can take us. We also believe that on the next slide, there are a number of Hollywood creators who are starting to think about how they might do their own as well. You see the example of Conan launching exclusively a channel on Samsung TV Plus. We think there's just gonna be new opportunities abounding for these folks as the, the cost of this technology ownership has become, you know, sort of legitimate for launching a direct to consumer service with a smaller brand or an individual creator. On the enterprise side, video is now critical to the journey of all types of buyers. This is the direct-to-consumer buyer. If you think about that as someone who's coming onto a website or a shopping experience to purchase something, we're seeing, you know, very high double-digit percentage points, additive capabilities to informing and driving purchase decisions. So you're seeing people preferring a short video to learn about a product or service and are convinced to buy those products by watching that video. The same is true on the next page for the B2B buyer. Those who buy our software, we actually run a channel called Brightcove Play. And Play for us is an all-video, everything all the time about streaming, and we find it to be a great lead generator for our business. B2B buyers are looking at videos as a way that make impact over other types of content they can ship. That video viewers are more, you know, receptive to, to models that can be proposed to them by B2B sellers. This drives a much larger impact in the buying process now that video is real. You can tell because the types of messages we can deliver on video are greater. Finally, you know, we're streaming to this to you virtually. We do believe hybrid workforce and remote working environments are going to remain for the foreseeable future, if not forever, some form of it. I think that's a unique capability we deliver to the marketplace. Sure, sure, there are Zoom and Teams and Google Meet and all the others. The asynchronous form of communication is hyper important going forward. Everyone cannot make the live stream, which we do do as well. Everyone cannot make the webinar or those pieces. It is about how you communicate with those employees in an asynchronous environment. Our Communications Studio does an incredible job of doing that for companies. All in all, our end markets, you know, the way we think about it is, streaming is continuing to grow. The end market dynamics are there for us. There are hundreds more customers for us in the media side and meaningful growth off of those hundreds. There are thousands more customers for us on the enterprise side. We just need to find the right way to pitch those use cases and win those deals, over time. This is what all drove to inform our strategic framework, which was about both how we go to market, but also how we deliver solutions and services. What I'm proud about over the last year or so is that on the solutions and services side, we have definitely increased our product velocity, shipping more things more often to be more end-to-end for our customer base. The more we can own of that whole customer life cycle, the better. We're gonna reap more benefits from a price perspective, but also from a stickiness perspective and retention. We want to accelerate and incubate their businesses. That means helping them make more money is good for us, so that's why we launched things like our ad monetization service. It's not about necessarily us making money, but about helping them have more robust streaming businesses. On the go-to-market side, we've had a really strategic effort to move what I would call upmarket to super serve the largest customers in our space. You'll see that in wins like Yahoo from Q1, the NHL in Q2. These are major multiyear larger engagements. Yahoo is the largest new business deal we've ever done at mid $7 figures and $8 figures over a long period of time. We are very excited about that move-up market and how much it's working from a new business perspective, and Rob will go into some details on the financials there. You know, the part that I think we can do better on, I think we have a great opportunity over the coming years, is to partner in the broader market to reach sort of that downmarket customer base. We have an ACV or a sort of an ARPU of about $100K. I think there are meaningful customers that are below that, but, you know, our direct sales model doesn't make that the most profitable space for us to hunt. We need to find partners that can help us move a broader set of customers there. We have partnered to find new ways to sell new things to our existing customer base and found some interesting add-on opportunities there. That's where we see this final pillar, which is to increase our business model flexibility. We are a 95% ish SaaS company right now, with about 5% services revenue. We'd love to see that diversify to be-- not that we want to shrink the SaaS revenue. We look at that subscription backlog and are very excited about where that's headed, but to increase the other types of revenue we're driving at the company over time, to drive real value. The strategy and execution over the first year has been, you know, good. I think we can do some things better, but the, but the big wins have been shipping with more velocity on the solutions and services side. We launched that third use case Communications Studio in Q... late Q4, early Q1. Feel really good about how it's hunting and that the innovations we continue to have on it will deliver more by the end of the year. I'd call, you know, the first product launch a true first one, and we got more to go. To accelerating our e-commerce capabilities and other outreach through integrations. We integrated with Shopify and Instagram and Google Drive to really bring those companies that are using those tool sets, you know, to fruition for us on both the marketing communication side. We launched an ad monetization and insights product with the, in partnership with Magnite and SpringServe, and now have added PubMatic to the roster of SSPs that serve our customers to help our customers monetize their, their advertising. We're gonna be shifting this model to a little bit more services focus in the back half of the year to see if we can't drive some real revenue. We partnered with Frequency, a smaller company that really does a great job on the FAST, free, ad-supported, streaming television space, which we have a number of capabilities ourselves, but needed to round out our product portfolio. We have and have built a meaningful pipeline here for this business, hopefully in the back half. Launched a quality of experience and analytics product. QoE is effectively measuring how your apps and sites are doing for the customer from a sort of uptime and error rates perspective. It's really a great product for the middle market who can't afford what's called a quality-of-service vendor, which is a much more robust real-time reporting capability on how each app and product is doing. This one does a tremendous job of doing that on an overnight basis, and I think we're doing a great job for customers there. On the go-to-market side, you know, that upmarket focus, you know, winning the biggest new deal we've ever done in Yahoo in Q1. Winning another big multi-year deal with the NHL here in Q2. Stealing back from a competitor, One 31 in Thailand, is one of our bigger deals in APAC. Sky Mexico as a great customer over time. We just see this upmarket focus driving... You know, it'll be a little bit lumpy in terms of growth, and I mean that as sort of like we'll have high, high quarters and not as high quarters in terms of bookings, but we view that as a great advantage to be able to bring those chunky deals in that can last us a long time. We're gonna continue this success, I hope, in the back half. On the partnership side, we've done a great job of finding the ones that we can resell, right? That our sales force can go out and help with our customers build. A real focus for the second half year, this year, is to find ones that can help resell us and build out our, our sort of downmarket version of our, of our go-to-market strategy. We've gotten some great recognition here in, in 2023. IDC named as a leader in their IDC MarketScape for media and entertainment. They basically quoted the concept that, you know, in order to save money, big, you know, media and entertainment companies are going to need to focus on specific vendors that can really outsource a meaningful amount of their technology stack. We were highlighted as a leader here to turn to for those companies. Aragon for the second year in a row, named as a leader in their enterprise video category for the types of solutions and robust solutions we're delivering for enterprises, especially upmarket. We have about 250 of the Fortune 1000 in our enterprise customer base, which is a really great calling card for us to go in and sort of be that market leader upmarket on the enterprise side. Rounding out here, look, we believe there's business model leverage in the, in the strategy and the way we're headed. If we can increase that ARPU, we can build, build it through larger customers, and we can do longer contracts. We will see revenue growth, we will see retention improvement, we will see EBITDA margin expansion, and we will see continued meaningful free cash flow generation. It, it comes from that flywheel of building the subscription revenue. I mean, when Rob talks, he'll talk about subscription backlog and what that means to our business going forward and the growth there. Finally, I'll close with our goals. You know, our goal is to get this company back to growth. You'll see that, in our guidance in Q4. To build a greater scale company, this is a space that needs more scaled players. There are a lot of onesie, twosie, I would call it, smaller competitors downmarket, and I think having a larger-scaled company in the space is gonna be important going forward for people to trust and, and do the big things that we're doing, with the likes of Yahoo and the NHL. We wanna continue to diversify the revenue base. You know, 95% SaaS is, is wonderful, but we'd like to see that maintain its growth while growing other businesses a little bit faster around the edges so that we can have a more rounded-out portfolio. First and foremost, I wanna deliver excellence both for our customers and for our employees, and we strive to be the sort of excellence provider in this space and be the one that people can rely upon. Again, back to our mission of, you know, most trusted streaming technology company in the world. With that, I want to turn it over to Rob to walk through our financial goals and where we're headed there. Yeah. Thanks, Marc. Rob Noreck, Chief Financial Officer here at Brightcove. I'll walk through our financials and, and kind of break it down into three core themes here. One is: How do we start delivering on that revenue growth? The second one is, is Marc talked about scale, and how do we start driving scale, and what does that mean for the business? Then really talk through what our model looks like longer term and, and the steps we're taking and the progress we're making on getting there. Just in terms of delivering revenue growth, Marc talked about this a little bit. Today, we are 95% SaaS revenue, and, you know, the reality is we have turned down revenue opportunities in the past because they were not necessarily SaaS. For example, you know, Marc talked about the ad monetization space. That really operates on a rev share model, so we've really kind of shied away from that. We've gotten all the way there with our integrations up to that ad monetization and stopped and let the customer handle it on their own. As we talk about moving end-to-end on the product, that's completing that revenue cycle for the customers and also opening ourselves up to different revenue models with the goal of driving our own revenue growth. As Marc talked about, the goal is to somewhere be in the 80% SaaS revenue in the future, not by shrinking our existing SaaS revenue base, but really expanding what we're willing to do, whether it's rev share in the ad monetization space, whether it's expanding our services offerings with different advisory services or other revenue models that might develop over time. As we think about those key revenue growth drivers, it's really about hitting those strategic accounts that move upmarket, being more end-to-end, solving the broader business problem that our customer is really looking to solve, versus just providing tech to deliver video, and then being flexible in how we deliver our business models, because we need to deliver our model in a way that the customers are, are operating in, and are willing to buy. Over time, what that's gonna do is that's gonna drive our larger ARPU, increase our net revenue retention rates, and drive larger and longer contracts and eventual revenue growth. We've seen some of the success of this in, in the first part of the year as we look at our new business growth in the first part of the year. New business was up 175% in the first half of the year, seeing real traction there. If you exclude the Yahoo deal, which Marc mentioned was the largest deal in the history of the company, still up 20%. Really driving successful growth in that new business opportunity. What we're seeing as we move upmarket is that average contract value is going up. We're driving an average new business contract value that's up 2x-3x year-over-year for each of Q4, Q1, and Q2, since we really implemented the strategy in the third quarter of last year. We see the success coming in our subscription backlog. You know, as you look at our 12-month subscription backlog at $124.8 million, we're up year-over-year in that 3% range. As you look at our total backlog, you really see the benefit of those long-term deals, up 16% year-over-year at $176.7 million, with almost $52 million in subscription backlog that is beyond 12 months. That's the benefit of some of those longer-term contracts that you're signing, that we're signing. You can see the, the benefit of this in our guide for the year and what we're starting to see in Q4 growth. Overall, long term, our goal is to get the company back to a consistent 10%+ revenue grower. We believe we have the opportunity to do it. We believe we've got the steps and the strategy in place to hit that 10% revenue growth on the long term. In terms of driving scale, as we think about scale across the business, on a non-GAAP gross margin basis, we finished last year at 65%. As we scale the business, we believe we can expand our gross margins and drive those to 70%+. This comes really from two avenues. First, is finding higher margin businesses to be in. As you think about the ad monetization space that we're going into, that revenue drops at a higher margin, close to 100%, versus our existing software business. As we shift that mix and drive those other revenue models that are potentially higher margin, we'll be able to drive this up. The second is scale. You know, we, we really do have two, two pieces of the business, the media side of the business, the enterprise side of the business. The scale that comes with that media business allows us to go back to our vendors and drive better pricing. Not only do you get a large customer contract, but you get the volume that comes with that, allowing us to go back to the AWSs of the world, the Akamais of the world, drive better pricing, which runs across the entire gamut of our customer base and drives better margins across the entire customer base. On the back of, you know, expanding gross margins, but also real disciplined investment across our operating expenses in conjunction with the 10% revenue growth, we believe we can drive Adjusted EBITDA margins to 20%+ over time. It really is an attractive long-term model. I'll stop and just, you know, talk to our guidance that we've given for the rest back half of this year. You know, from a low of $50 million-$51 million, to a high of $51 million in revenue in the third quarter, $201 million-$203 million in revenue for the full year. On an Adjusted EBITDA basis, it's $4 million-$5 million this quarter, $11 million-$13 million on the full year for EBITDA. What does that really look like? I, I wanna kinda take a look at the trends here. What our guide implies for revenue growth is for the full year, it's a down guide- you know, down year of 4%-5%. Really, as we enter Q4, we start to see the benefits of the transformation that we're putting into place. We go from a full year guide of down 4%-5%, to revenue growth of 3%-5% implied for the fourth quarter, and that long-term target of 10%. You can see that over the course of the year, we're making strides, we're making progress to get to that long-term target of 10%+. On the EBITDA guide, that Adjusted EBITDA percentage, 5%-6% for the year, but really a 10%+ Adjusted EBITDA guide in the fourth quarter, well on our way of getting to that 20%+ EBITDA margin long term. That's coming from the strategic initiatives we have in place to drive revenue growth, the scale we're gonna drive across gross margin, the discipline on the OpEx to get to that Adjusted EBITDA percentage. Over time, we expect this to drive free cash flow. We don't expect large CapEx in order to do this. We're kind of fueling our own fire as we go across the business. All of this will drive accelerating free cash flow as we go forward. Again, just to hit the investment highlights, you know, to wrap up with the investment highlights, we've got that industry-defining software that is known for quality, reliability, and experience in managing all things streaming for both media companies and enterprises. End user and end markets for media and enterprise companies are growing. We've got global reach. We've got a diversified client base with significant opportunity across multiple markets, clear product and services innovation path. Marc talked about that new expert experience management team. He's on the new side. I'd put myself on the longer tenure, with 11+ years with the company, then that strong recurring SaaS revenue model and debt-free balance sheet to really build off of and build those growth components into. We believe it's an undervalued company with significant growth opportunity in revenue, Adjusted EBITDA free cash flow, and potential shareholder returns. With that, we'll, we'll hand it over for Q&A. Okay, perfect, gentlemen. Just waiting for the questions to come through here. One was a little bit on, just a little bit more on the competitive landscape and, and, you know, how much of the business that you are seeing, is, you know, really do-it-yourself type model, versus, you know, competitors and, and how that looks sort of over, over the globe? Yeah. I'd say, just jumping quickly there, on the media side, you know, I always joke that our number one competitor is do it themselves, right? That and that isn't... You know, it may not be a joke, it's true. If you think about something like a Yahoo, which was a competitive win against other, you know, competitors in the space, which there are a handful, mostly smaller private companies, we were replacing a do-it-themselves solution. You know, we sort of were getting into that sort of, are they gonna continue to do it themselves versus us, versus a third another third party. One that, you know, NHL is obviously competitive. There are other folks in there as well, doing different pieces for them. Feel good about our ability to win in the media space. On the enterprise side, you know, there aren't as many up-market suppliers like we are. I would say more systems integrators handle the up-market side. There's a number of smaller competitors down-market that are doing what I would call $10,000, $15,000, $20,000 ACV type of business. We've sort of shied away from that business and focused on companies we think we can have a robust and deeper, you know, sort of higher value relationship with. They are very, typically very specific in the use case they serve. I use examples like, like a Vidyard does for sales, or, I think Vimeo is in the marketing space, much lower down on the stack, in terms of client size. There are specific communications use cases where a company like Kaltura or a company like Qumu, which used to be public, is now private, serve specific communications use cases. There are competitors in each of the, the spaces that we go after, but there's sort of no one competitor we're facing in the broader set of, of things. Do feel like we're differentiated by the scale and capabilities we have by being so deep and upmarket in the media business, that it allows us to sort of have that robust nature. I got some interesting feedback from a customer just about how much- ability we save them having shifted to our platform from one of our competitors, and they're a smaller marketing use case customer. They just say, like, the robustness of the platform is so, you know, helpful from that perspective. So I do think we compete very well in the market, and I think really our struggle right now is about how to build a better add-on business with our existing customer base that is more robust year in and year out, and not as focused as it has previously been on what we talked about on our last earnings call, which is mostly entitlement selling, right? Selling bandwidth and storage and plays rather than selling new products, which we're shipping now at a greater velocity. Great. Then the next question was a little bit, you know, this is more of a general question, but I, I think how significant is the pricing model to, you know, the business that you win? Then also, is there kind of a, you know, a land and expand strategy where you're, you know, adding on products with the client as you grow with them over time? Yeah, why don't I take the latter, and you can take the former in a second, Rob. On the land and expand, yes, I think we got. We split our sales team into a account executives and account managers, sort of hunters and farmers, at the beginning of the year. One of those has worked very, very well, splitting out the account executives into being new business-focused. We've driven great new business, and even excluding the one big deal, it's still phenomenal growth at 20%. We're very happy about that. The struggle we've had is this, we've had a big headwind on entitlement selling in coming out of COVID, which, for us, was effectively through the beginning of 2022, as people were still believing their streaming growth was gonna be extremely robust. We had sold- we also sell the gas with our cars, right? If our software product is the car and the entitlements are the fuel, we sold a lot of fuel coming out of that. Folks have effectively been renewing either flat or down in terms of, of that type of entitlement renewal. We've had to develop that account management structure to be much more about moving, as we said, land and expand, upsell and cross-sell. I think we delivered Communications Studio to the team in Q1. Getting that enabled and getting people really robustly selling it has taken, you know, a quarter or so. Building the FAST product, which we launched in, in late Q1, getting that out there. We have pipeline now in these add-on capabilities, and it's really about getting that sales team to execute against those things, which we're on our way to doing, but I would say has been a headwind with the entitlement piece being an unforeseen one over the past 2 quarters. We do think we, we burn through that cycle in the next sort of 2-4 quarters and have a robust period of growth going after that. Then, Rob, why don't you take the first part of the question, which I believe is about the sort of economics of pricing on some of those big deals? Yeah. Yeah. I think there, there's a couple of points on the pricing model. In terms of how we price and how we go after each one of the segments, we do try and tailor the pricing model to match the segment we're going out after. We haven't seen too much pushback in terms of the model in and of itself when we sell. Particularly on the media side with the big deals, we've talked a lot about revenue flexibility and business model flexibility. We are trying to sign win-win models with those big on those big contracts that give them the flexibility to leverage the platform in as deep a way as possible, be as integrated as possible, with as much cost certainty as possible, and us the ability to recognize a healthy margin and revenue flexibility over the, over the course of the year. I, I think we're not seeing any particular pushback on the pricing models per se, and we're able to price for each segment in a way that is a win-win for both the customer and for Brightcove. Okay, terrific. Then the last question was just a little bit on thoughts on investment. From a personnel standpoint, are there certain areas that you're looking at, you know, building out further, or do you feel like you're in pretty good shape where you stand right now? I think from a total cost perspective, I feel like we're in pretty good shape. We made the changes to the structure of the organization in Q2 that we thought we needed for the, you know, for the long term. We'll play that out over the next couple of quarters, but I think we feel pretty good about where we, where we landed on that. That doesn't ever mean we're standing still. I think there's always gonna be tweaks to the model based on what we see in the market and where we need to go. Do we need a little bit more here, a little bit more there? I think from an overall perspective, we feel pretty well-balanced right now, between the revenue organization, the R&D organization, and the, and the G&A side of the house. You know, I'd say, like, constantly, you know, a company like this in the technology space and the type of markets we address, it's never standing still. I mean, even to the point at which, you know, how much development we're capitalizing or how much is, you know, ongoing, we're constantly having those discussions about the best models. We feel pretty, pretty good, you know, I would say overall. I don't know if, Rob, you'd add anything to that one. No, I'd just say, I, I think it's a, a critical point that you made there around. We made some actions in the second quarter to really rightsize our expense base and make sure that we continue to drive positive EBITDA, positive free cash flow on a go-forward basis. We expect you know, we're not, you know, we might invest a little bit, but there, there's not huge investments that we see required to drive the revenue growth that we're talking about. Well, terrific. Marc and Rob, I really appreciate you joining us today. Thanks for sharing your story, and if any investors would like follow-up, please reach out to either us or the company direct. Happy to put you in touch, and you can stay, you know, up to speed on the story. Looking forward to seeing everyone again soon and appreciate everyone's time for joining. Thank you. Thank you. Thanks, Charles.