Kaltura, Inc.
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Range $4 – $4
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About the company
Kaltura, Inc. , together with its subsidiaries, provides various software-as-a-service (SaaS) products and solutions and a platform-as-a-service (PaaS) in the United States, Europe, the Middle East, Africa, and internationally. The company operates through two segments, Enterprise, Education, and Technology (EE&T); and Media and Telecom (M&T).
- CEO
- Ron Yekutiel
- IPO
- 2021
- Employees
- 494
- HQ
- New York, NY, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $249.62M
- P/E
- -18.53
- Fwd P/E
- 149.55
- PEG
- -0.73
- P/S
- 1.38
- P/B
- 144.79
- EV/EBITDA
- 101.47
- Div Yield
- 0.00%
- Gross Margin
- 71.96%
- Op Margin
- -0.86%
- Net Margin
- -6.92%
- ROE
- -164.67%
- ROIC
- -2.44%
Latest fiscal year · YoY change
- Revenue
- $180.85M+1.2%
- Gross Profit
- $127.67M+7.2%
- Op Income
- $-7,755,000
- Net Income
- $-12,072,000+61.4%
- EPS
- $-0.08+62.4%
- OCF Growth
- +18.9%
- FCF Growth
- +18.5%
- 52W High
- $2.05
- 52W Low
- $1.05
- 50D MA
- $1.43
- 200D MA
- $1.44
- Beta
- 1.17
- RSI (14)
- 59
- Avg Volume
- 614.52K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Kaltura beat Q1 guidance, posted record first-quarter adjusted EBITDA and first-ever positive Q1 operating cash flow, while management leaned into its AI-powered platform transition and raised full-year outlook.· May 11, 2026
- Q1 revenue was $44.6 million, down 5% year over year, but still above the high end of guidance.
- Adjusted EBITDA was $5.7 million, up 37% year over year and the best first-quarter result in company history.
- The company generated $0.7 million of operating cash flow, its first positive Q1 cash flow from operations.
- Gross margin improved to 72% from 70% a year ago, helped by a mix shift toward subscription revenue.
- Management raised and slightly narrowed full-year 2026 guidance and said new product revenue should start contributing in the second half of the year, with a larger impact in 2027.
Total revenue for Q1 2026 was $44.6 million, down 5% year over year and 2% sequentially; subscription revenue was $43.2 million, down 4% year over year and up 1% sequentially. GAAP gross profit was $32.1 million with gross margin of 72%, up 200 basis points year over year; subscription gross margin was 77%, in line with Q1 2025. Adjusted EBITDA was $5.7 million, up from $4.1 million a year ago, and adjusted EBITDA margin was 13%, up 400 basis points year over year. GAAP net loss was $3.8 million, or $0.03 per diluted share, versus a loss of $1.1 million, or $0.01 per diluted share, in Q1 2025. Cash, cash equivalents and marketable securities ended at $61.8 million, and operating cash flow was positive by $0.7 million. For Q2 2026, Kaltura guided to subscription revenue of $43.3 million to $44.1 million, total revenue of $45.2 million to $46 million, and adjusted EBITDA of $2 million to $3 million. For full-year 2026, it guided to subscription revenue of $174.5 million to $176.7 million, total revenue of $182.6 million to $184.8 million, and adjusted EBITDA of $13.8 million to $15.2 million.
Ron Yekutiel framed the quarter as evidence that Kaltura’s strategic transition is gaining traction, pointing to better retention, early AI product adoption, and a broader platform vision spanning customers, employees, learners, and audiences. He emphasized that the company is evolving from a video platform into an AI-powered, agentic digital experience platform, combining Kaltura, eSelf and PathFactory. His tone was constructive and confident, especially around early pipeline activity and the expectation that new products will contribute more meaningfully later this year and in 2027.
Liron Sharon highlighted that Q1 beat the high end of guidance across revenue and adjusted EBITDA, with total revenue of $44.6 million, subscription revenue of $43.2 million, and adjusted EBITDA of $5.7 million. He noted gross margin expanded to 72% from 70% a year ago, operating expenses declined to $33.3 million despite eSelf integration costs and FX headwinds, and operating cash flow turned positive at $0.7 million versus $1 million used in Q1 last year. He also said RPO was $154.5 million, ARR was $168.8 million, and the company is raising and slightly narrowing full-year guidance while still factoring in PathFactory integration costs and FX pressure.
Analysts focused on whether the expanded AI portfolio would lengthen sales cycles and require a digestion period, and Ron said he does not expect sales cycles to be further elongated beyond typical large-enterprise cycles, though some deals may still take time and conversion is expected in the second half. He also clarified that opening the platform to AI coding agents does not mean open-sourcing core technology; rather, Kaltura is enabling easier integration into enterprise workflows and agentic environments. In response to questions about customer engagement, he said the strongest traction is in customer journeys, with a few dozen opportunities in pipeline and about half of them in upsells and half in new logos.
The call showed improving execution, with Q1 results above guidance, record first-quarter adjusted EBITDA, and first-ever positive Q1 operating cash flow. Management also described growing interest in a broader AI-driven platform, with early deals, multiple proof-of-concepts, and expectations for new-product revenue to start contributing in the second half of 2026.
Revenue still declined year over year, subscription revenue was down 4%, and net dollar retention remained under pressure at 95% due to prior media and telecom churn. Management also said PathFactory and the new product portfolio will take time to matter financially, with a more meaningful impact not expected until 2027, while M&T is still expected to decline year over year in 2026.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 56.9%
- Shares Outstanding
- 150.37M
- Float Shares
- 85.56M
of shares held by institutions
99 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Avalon Ventures Management, LLC | 8.96M | 0 |
| Vanguard Group Inc | 5.15M | ▲ 142.54K |
| Cubist Systematic Strategies, LLC | 37.89K | ▼ 30.85K |
| Cwm, LLC | 22.08K | ▲ 14.91K |
| California State Teachers Retirement System | 4.04K | ▼ 1.52K |
| Point72 (Difc) Ltd | 2.17K | ▲ 250 |
| Point72 Asia (Singapore) Pte. Ltd. | 1.98K | ▼ 10.05K |
Held by 75 ETFs
Biggest fund positions in KLTR by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 5, 26 | Manor Eyal | sell | 112,713 |
| Aug 5, 26 | Manor Eyal | sell | 25,430 |
| Aug 5, 26 | Azaria Eynav | sell | 83,995 |
| Aug 5, 26 | Israeli Natan | sell | 196,432 |
| Aug 5, 26 | Israeli Natan | sell | 62,890 |
| Jul 27, 26 | Israeli Natan | sell | 100 |
| Jul 22, 26 | Azaria Eynav | sell | 6,301 |
| Jul 20, 26 | Azaria Eynav | sell | 2,777 |
| Jul 21, 26 | Azaria Eynav | sell | 3,480 |
| Jun 26, 26 | Manor Eyal | sell | 8,825 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our KLTR coverage
Recent articles, reports, and earnings notes.
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Generate KLTR report →Kaltura Bets on Agentic AI to Drive Next-Gen Video Growth
marketbeat.com · Aug 14
Insider Selling: Kaltura (NASDAQ:KLTR) Insider Sells $484,932.14 in Stock
defenseworld.net · Aug 10
Kaltura, Inc. (KLTR) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 5
Kaltura Q2 Earnings Call Highlights
marketbeat.com · Aug 5
Kaltura Announces Financial Results for Second Quarter 2026
globenewswire.com · Aug 5
Kaltura Positioned as a Leader in the 2026 IDC MarketScape for Worldwide Virtual Events Applications
globenewswire.com · Jul 29
Kaltura Delivers Record-Scale Live Streaming for the 2026 FIFA World Cup, Previews Agentic Avatar Experiences for Live Sports
globenewswire.com · Jul 27
Kaltura to Announce Financial Results for Second Quarter 2026 on Wednesday, August 5, 2026
globenewswire.com · Jul 14
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