Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Brightcove (NASDAQ:BCOV) tumbled 37% Friday after the online video platform company reported better than expected second-quarter results, but followed with weak full-year guidance.

So what: Quarterly revenue jumped 15% year over year to $31 million, which translated to an adjusted net loss of $1.4 million, or $0.04 per share. Analysts, on average, were looking for a wider loss of $0.11 per share on lower sales of $30.2 million.

However, Brightcove CEO David Mendels said in a press release Thursday the company "experienced slower than expected progress on large deal opportunities and certain customer implementations," as well as new expectations for "a large customer with an uncommon use case to churn in the third quarter."

As a result, Brightcove now sees full-year revenue of just $122 million to $123.5 million, with an adjusted loss per share of $0.24 to $0.28. By comparison, analysts had modeled a 2014 loss of $0.22 per share on sales of $128.9 million.

Now what: Even so, Mendels insisted, "We remain confident in our strategy and in the very meaningful market opportunity in front of us."

Today's 37% plunge might seem a big severe for what could turn out to be a temporary problem. But I certainly can't blame the market for taking a big step back given this hiccup in execution. For now, and until Brightcove can show meaningful progress toward achieving sustained profitability, I'm content watching from the sidelines.