Kaltura, Inc. (NASDAQ:KLTR) Q4 2021 Earnings Conference Call February 23, 2022 8:00 AM ET Company Participants Erica Mannion - Sapphire IR Ron Yekutiel - Co-Founder, Chairman & CEO Yaron Garmazi - CFO Conference Call Participants Gabriela Borges - Goldman Sachs DJ Hynes - Canaccord Genuity Michael Funk - Bank of America Austin Williams - Wells Fargo Matthew Niknam - Deutsche Bank Steve Enders - KeyBanc Capital Markets Ryan Koontz - Needham & Company Pat Walravens - JMP Securities Param Singh - Oppenheimer D ...

Financial Data and Key Metrics Changes - The company reported revenue of $43 million for Q3 2021, representing a 40% year-over-year increase and exceeding the high end of guidance [7][37] - Subscription revenue reached $37.7 million, also up 40% year-over-year, accounting for approximately 88% of total revenue [8][37] - Annualized Recurring Revenue (ARR) grew to $151.7 million, a 41% increase year-over-year, with a net dollar retention rate of 117%, up from 111% a year ago [8][38] - Gross margin improved to 65%, up from 59% in Q3 2020 [8][40] - Adjusted EBITDA was negative $2.3 million, which was better than the high end of guidance [8][44] Business Line Data and Key Metrics Changes - In the EE&T segment, total revenue was $30.4 million, up 45% year-over-year, with subscription revenue at $28 million, a 14.1% increase [38] - The M&T segment reported total revenue of $12.6 million, a 13.1% year-over-year increase, with subscription revenue at $9.7 million, up 37% [39] Market Data and Key Metrics Changes - The company saw increased new bookings from EMEA and APAC regions, although North America remains the largest market [15] - The percentage of new business from channels continued to grow, with EE&T segment exceeding 10% [82] Company Strategy and Development Direction - The company plans to expand its sales force and increase marketing spend to fuel future growth [14][35] - Kaltura aims to move down market to serve smaller organizations with low-touch and self-serve products [14][35] - The company is focusing on enhancing its product offerings, including a second-generation virtual events platform and self-serve media services [30][32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand across all four customer markets, particularly in the enterprise subsector within EE&T [50] - The company anticipates a strong Q4 and is focused on re-accelerating growth through increased sales capacity and new product launches [63][64] - Management acknowledged a slowdown in ARR growth but emphasized that this was anticipated and part of a strategic plan to add more sales personnel [62][63] Other Important Information - The company ended the quarter with $179.7 million in cash and short-term investments, reflecting proceeds from a public offering [45] - The company expects Q4 revenue to be between $41.2 million and $43.2 million, with a negative adjusted EBITDA of $7.5 million to $9.5 million [46] Q&A Session Summary Question: What growth factor in the EE&T segment is most exciting for 2022? - Management highlighted that all three areas within EE&T are strong, with enterprise being the most explosive in terms of market size opportunity [50] Question: Can you quantify the current sales capacity and hiring plan? - Management noted a significant growth in sales personnel, with a 50% increase in EE&T and a 20% increase in M&T compared to Q1 [52] Question: What is the outlook for bookings and execution in the quarter? - Management indicated that while there was a lower net new ARR added, the overall bookings environment remains strong, with a diversified customer base [56][58] Question: How is the company addressing the self-serve buying model? - Management is working on self-serve solutions expected to launch in the first half of next year, targeting SMEs and developers [65][67] Question: What is the impact of non-recurring revenue on the model? - Management clarified that the non-recurring revenue primarily comes from professional services, which is expected to decline as the company moves towards more automated solutions [90] Question: How competitive is the hiring environment currently? - Management acknowledged that the hiring environment is more competitive but emphasized the appeal of Kaltura's mission and culture in attracting talent [88]

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, 2021 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 ...

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 June 30, 2021 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 20-8 ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2021 was $41.6 million, up 45% year-over-year [11][46] - Subscription revenue reached $36.5 million, an increase of 46% from the prior year, representing 88% of total revenue [11][46] - Annual recurring revenue run rate grew to $145.4 million, up 46% year-over-year [11][47] - Net dollar retention rate increased to 121%, up from 105% one year ago [11][47] Business Line Data and Key Metrics Changes - Within the Enterprise, Education, and Technology (EET) segment, total revenue was $30.2 million, up 61% year-over-year [48] - Subscription revenue in the EET segment was $27.2 million, up 53% year-over-year [48] - In the Media & Telecom (M&T) segment, total revenue was $11.4 million, a 14% increase year-over-year [48] - Subscription revenue in the M&T segment was $9.3 million, up 28% year-over-year [48] Market Data and Key Metrics Changes - The company has over 1,000 customers across four markets, with significant representation in Enterprise, Education, and Technology [20] - The company reported strong traction in North America for EET deals and in EMEA for M&T deals [59] Company Strategy and Development Direction - The company plans to invest heavily in sales and marketing to drive revenue growth and expand its customer base [23][50] - Kaltura aims to go down market to cater to smaller customers, including SMEs, with new self-serve and low-touch products [24] - The company is focused on technology innovation, particularly in real-time video infrastructure and enhancing editing and personalization tools [36][37] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the strong new business pipeline and the acceleration of the net dollar retention rate [54] - The company anticipates a deceleration in growth rates in the second half of the year but expects strong performance in recurring revenue [70][75] - Management noted that they have not seen a slowdown in demand and are optimistic about future growth driven by new products [80][81] Other Important Information - Gross profit for the quarter was $26 million, with a gross margin of 62% [49] - The company ended the quarter with $29.8 million in cash and short-term investments [52] - Adjusted EBITDA was negative $1 million, decreasing from $3.3 million in Q2 2020 [51] Q&A Session Summary Question: What is driving the strong growth in the EET segment? - Management noted that the strong growth is driven by new products such as virtual events, webinars, and virtual classrooms, with a balanced contribution from new logos and upsells [56][58] Question: What is the outlook for net retention rate? - Management indicated that the net dollar retention rate has improved to 121% and expects continued growth in usage and users across various segments [63][65] Question: Is there any moderation in demand due to COVID-19? - Management stated that they have not seen a slowdown in demand and continue to see strong renewals for virtual events and other products [80][84] Question: How does the company view profitability in the coming years? - Management expressed confidence in returning to profitability in the next couple of years, supported by improving gross margins and a decrease in non-recurring revenue [90][92]