Kaltura demonstrated strong financial performance with record subscription revenue, improved profitability, and significant cash flow generation. Despite challenges such as a decline in professional services revenue and slower new customer acquisition, the company successfully increased average subscription revenue per customer and improved its net dollar retention rate. Product innovations, particularly in AI, also contributed positively to the quarter's results.

Company Guidance

In the third quarter of 2024, Kaltura reported a total revenue of $44.3 million, marking a 2% increase year-over-year, with subscription revenue reaching a record $42.1 million, up 3% year-over-year. The company also achieved a record annualized recurring revenue (ARR) of $168.9 million and a record remaining performance obligations (RPO) of $187.8 million, reflecting a 15% year-over-year growth. Kaltura posted an adjusted EBITDA of $2.4 million, its highest since Q2 2020, and notably improved cash flow from operations at $10.7 million, a substantial rise from $1.7 million in Q3 2023. The company's gross margin improved to 67%, and subscription gross margin to 75%. Net dollar retention rebounded to 101%, after hitting 98% in the prior three quarters. In response to these strong results, Kaltura increased its full-year revenue and adjusted EBITDA guidance, expecting positive cash flow from operations in Q4 and for the full year 2024.

Record-Breaking Subscription Revenue

Kaltura reported record subscription revenue of $42.1 million, up 3% year-over-year.

Strong Adjusted EBITDA Performance

The company posted adjusted EBITDA of $2.4 million, marking the fifth consecutive quarter of profitability and the highest result since Q2 2020.

Record Cash Flow from Operations

Generated a record $10.7 million in cash flow from operations, a significant improvement from $1.7 million in Q3 2023.

Improved Net Dollar Retention Rate

Net dollar retention rate improved to 101% after posting 98% in the last 3 quarters.

Increased Average Subscription Revenue Per Customer

Average subscription revenue per customer reached an all-time high in Q3 2024.

Product Innovations and AI Integration

Enhanced product offerings with AI features, including the launch of Kaltura Content Lab and integration with Microsoft Teams.

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Kaltura (KLTR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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KLTR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 19, 2025	2024 (Q4)	>-0.01 / -	-0.03	―	―	―
Nov 06, 2024	2024 (Q3)	-0.02 / 0.01	-0.02	150.00% (+0.03)	―
Aug 08, 2024	2024 (Q2)	-0.02 / -0.01	-0.02	50.00% (+0.01)	―
May 08, 2024	2024 (Q1)	-0.02 / -0.03	-0.03	0.00% (0.00)	―
Feb 22, 2024	2023 (Q4)	-0.03 / -0.03	-0.06	50.00% (+0.03)	―
Nov 08, 2023	2023 (Q3)	-0.02 / -0.02	-0.09	77.78% (+0.07)	―
Aug 02, 2023	2023 (Q2)	-0.04 / -0.02	-0.08	75.00% (+0.06)	―
May 09, 2023	2023 (Q1)	-0.06 / -0.03	-0.09	66.67% (+0.06)	―
Feb 22, 2023	2022 (Q4)	-0.08 / -0.06	-0.09	33.33% (+0.03)	―
Nov 10, 2022	2022 (Q3)	-0.10 / -0.09	-0.047	-91.49% (-0.04)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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KLTR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 06, 2024	$1.42	$1.73	+21.83%
Aug 08, 2024	$1.15	$1.22	+6.09%
May 08, 2024	$1.28	$1.23	-3.91%
Feb 22, 2024	$1.45	$1.46	+0.69%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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