Kaltura, Inc. (KLTR) came out with a quarterly loss of $0.03 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post a loss of $0.02 per share when it actually produced a loss of $0.03, delivering a surprise of -50%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Kaltura, which belongs to the Zacks Internet - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission File Number: 001-40644 Kaltura, Inc. (Exact name of Registrant as specified in its Charter) Delaware ...

Exhibit 99.1 Kaltura Announces Financial Results for First Quarter 2024 NEW YORK, May 8, 2024 - Kaltura, Inc. ("Kaltura" or the "Company"), the video experience cloud, today announced financial results for the first quarter ended March 31, 2024, as well as outlook for the second quarter and full year 2024. "We delivered both record total revenues and subscription revenues in the first quarter, making it our sixth consecutive quarter of year- over-year growth. It was also our third consecutive quarter of Adj ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-40644 Kaltura, Inc. (Exact name of Registrant as specified in its Charter) Delaware 20-8128326 (State or other jur ...

Exhibit 99.1 Kaltura Announces Financial Results for Fourth Quarter and Full Year 2023 NEW YORK, February 22, 2024 -- Kaltura, Inc. ("Kaltura" or the "Company"), the video experience cloud, today announced financial results for the fourth quarter and full year ended December 31, 2023, as well as outlook for first quarter and full year 2024. "Today, we posted record-high total revenues in the fourth quarter, which also marked our fifth consecutive quarter of year-over-year growth. The quarter wrapped up a ye ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission File Number: 001-40644 Kaltura, Inc. (Exact name of Registrant as specified in its Charter) Delaware 20-8128326 (St ...

Table of Contents Washington, D.C. 20549 FORM 10-Q | | (Mark One) | | --- | --- | | ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | For the quarterly period ended June 30, 2023 | | OR | | ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission File Number: 001-40644 Kaltura, Inc. (Exact name of Registrant as specified in its Charter) Delaware 20-8128326 ( ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission File Number: 001-40644 Kaltura, Inc. (Exact name of Registrant as specified in its Charter) Delaware ...

Customer Retention and Growth - The Net Dollar Retention Rate for the years ended December 31, 2022, and 2021, was 100% and 118%, respectively, indicating strong customer retention and growth potential[50]. - The company aims to secure new customers within its current markets, particularly targeting Global 2000 companies, leveraging its established sales and marketing operations[50]. - Customer renewals are critical for revenue, and any decline in renewal rates could adversely affect the company's financial condition[143]. - The company has experienced longer sales cycles and increased price-driven competition, adversely affecting customer retention and revenue generation[89]. Product Development and Market Expansion - Kaltura plans to expand its product offerings, including new enterprise video products and industry-specific solutions, to enhance its existing markets[50]. - Kaltura is expanding into new markets, including financial services and healthcare, by introducing new industry solutions and making products more self-operated for SMEs[50]. - The company has introduced various products, including Webinars, Online Learning, and Hybrid and Virtual Events, since 2020 to meet diverse customer needs[50]. - The company aims to enhance its product offerings and expand into new markets, including increasing sales within existing customer bases and developing new products[102]. Financial Performance - Total revenue for the years ended December 31, 2022, and 2021 was $168.8 million and $165.0 million, respectively, representing an annual growth rate of 2%[93]. - The company incurred net losses of $68.5 million, $59.4 million, and $58.8 million for the years ended December 31, 2022, 2021, and 2020, respectively, resulting in an accumulated deficit of $391.1 million as of December 31, 2022[99]. - The top ten customers accounted for approximately 29.2%, 31.0%, and 29.4% of total revenue for the years ended December 31, 2022, 2021, and 2020, respectively[98]. - The company’s revenue growth may be impacted by factors such as increased competition, slowing demand, and failure to capitalize on growth opportunities[94]. Operational Challenges - The company has experienced seasonality in bookings and collections, particularly in the education market, with higher sales in the second and third quarters[81]. - The company has implemented Reorganization Plans to adapt to the changing economic climate, but there is no assurance these plans will sufficiently address market declines[90]. - The company has a history of fluctuating financial results, which may not be indicative of future performance due to various external factors[105]. - The company has experienced a significant increase in usage of its offerings due to the COVID-19 pandemic, leading to substantial costs for infrastructure upgrades and capacity expansion[111]. Competition and Market Position - The competition in the market is intensifying, with competitors potentially developing their own software based on Kaltura CE, which could lead to pricing pressure on Kaltura's offerings[133]. - Key competitors include Microsoft and Vimeo for Video Portals, Zoom and On24 for Virtual & Hybrid Events, and AWS for API & Developer Tools[141]. - The company faces significant competition for skilled personnel, particularly in engineering and sales, which may adversely affect its business and growth prospects[155]. Intellectual Property and Legal Risks - The company holds nine issued U.S. patents and eleven non-U.S. patents and applications, with the issued patents expected to expire between 2028 and 2035[72]. - The company faces risks related to the protection of its proprietary technology and intellectual property rights, which could harm its business and financial condition[200]. - The company may incur substantial costs from defending against intellectual property litigation, which could divert management attention and resources[208]. - Indemnity provisions in agreements could expose the company to significant liability for intellectual property infringement, potentially harming its business and financial results[212]. Regulatory and Compliance Issues - The company is subject to evolving laws and regulations regarding data privacy and security, particularly in the European Union, which could impact operations[180]. - Non-compliance with privacy laws could result in significant liabilities and negatively impact the company's reputation and business operations[221]. - The company is subject to the EU General Data Protection Regulation (GDPR), imposing comprehensive compliance obligations related to data privacy[226]. - The company must comply with various state privacy laws, including the Virginia Consumer Data Protection Act and the Colorado Privacy Act, which may add complexity to its operations[223]. Financial Stability and Funding - The company had approximately $35.8 million in borrowings outstanding under the Term Loan Facility as of December 31, 2022[238]. - The company anticipates that net cash provided by operating activities, cash on hand, and availability under the Revolving Credit Facility will be adequate for at least the next twelve months[236]. - The company may require additional financing due to the worsening economic climate and increased inflation and interest rates[236]. - The company’s ability to raise additional capital may be limited due to its existing indebtedness and economic conditions[241].

Financial Data and Key Metrics Changes - Total revenue for Q4 2022 was $44.1 million, up 3% year-over-year, with subscription revenue also at $39.6 million, up 3% year-over-year [4][15] - Adjusted EBITDA for Q4 2022 was negative $4.2 million, improving from negative $7.7 million in Q4 2021 [17] - Annual recurring revenue reached $159.2 million, up 6% year-over-year, while net dollar retention rate was 96% in Q4 2022, unchanged from Q3 2022 [15][16] Business Line Data and Key Metrics Changes - Within the EE&T segment, total revenue for Q4 2022 was $30 million, down 3% year-over-year, with subscription revenue at $29 million, down 2% year-over-year [15] - In the media and telecom segment, total revenue for Q4 2022 was $14.1 million, up 20% year-over-year, with subscription revenue at $10.6 million, up 21% year-over-year [16] Market Data and Key Metrics Changes - The company experienced a decrease in professional services revenue, contributing $4.5 million in Q4 2022, up 6% year-over-year, but expected to continue decreasing overall [5][21] - The remaining performance obligation was $171.7 million, down 7% year-over-year, with 60% expected to be recognized over the next 12 months [15] Company Strategy and Development Direction - The company aims to return to profitable growth, with a goal of achieving a single-digit adjusted EBITDA loss in 2023 and breaking even in 2024 [6][13] - Kaltura is focusing on consolidating fragmented video needs around its integrated platform, which is designed to reduce operational complexities and costs for customers [7][12] - The company is expanding its product offerings, including enhancements to its Events platform and new webinars product, to cater to a broader market [10][34] Management's Comments on Operating Environment and Future Outlook - Management noted that while there are macroeconomic challenges affecting customer spending, there is a continued demand for video-centric solutions for employee training and customer engagement [12][25] - The company is cautiously optimistic about future demand, monitoring leading indicators such as RFP requests and meetings set by the sales team [12][25] - Management reaffirmed their commitment to returning to profitability despite the challenging environment, with expectations for improved cash flow and reduced cash burn in 2023 [21][50] Other Important Information - The company downsized 11% of its workforce in January 2023, expecting unrealized savings of $16 million from this action [16] - GAAP net loss for Q4 2022 was $14.8 million, or $0.11 per diluted share, with a full-year net loss of $68.5 million [17][19] Q&A Session Summary Question: Can you provide insights on the macro environment and new customer activity? - Management indicated that bookings in Q4 were lower than Q3, with a mix of enterprise and education customers primarily engaging in upsells rather than new logos [22] Question: What are the trends in customer spending and demand? - Management noted that while there are headwinds with customers being more risk-averse, there is still a strong demand for Kaltura's offerings, particularly in video-based experiences [25] Question: How is the restructuring impacting sales productivity? - Management stated that the restructuring is expected to yield savings and that morale remains high, with no significant voluntary departures noted [48]