Kaltura Announces Financial Results for Third Quarter 2022

( Published on November 10, 2022 )

Kaltura, Inc. (“Kaltura” or the “Company”), the video experience cloud, today announced financial results for the third quarter ended September 30, 2022, as well as outlook for the fourth quarter and full year 2022.

“We are progressing towards our planned return to profitable growth, with improved cash flow and Adjusted EBITDA in the third quarter, and an expected return to revenue growth in the fourth quarter,” said Ron Yekutiel, Co-founder, Chairman and Chief Executive Officer of Kaltura. “Though we continue to be affected by the macroeconomic headwinds, we are also fueled by exciting new low-touch and self-serve offerings such as our Event Platform, and as of the third quarter, a new version of our Webinars product that powerfully brings together all of our on-demand, live, and real-time video capabilities.”

Third Quarter 2022 Financial Highlights:

  • Revenue for the third quarter of 2022 was $41.1 million, a decrease of 4% compared to $43.0 million for the third quarter of 2021.
  • Subscription revenue for the third quarter of 2022 was $37.9 million, an increase of 1% compared to $37.7 million for the third quarter of 2021.
  • Annualized Recurring Revenue (ARR) for the third quarter of 2022 was $152.9 million, an increase of 1% compared to $151.7 million for the third quarter of 2021.
  • GAAP Gross profit for the third quarter of 2022 was $26.4 million, representing a gross margin of 64% compared to a GAAP gross profit of $27.8 million and gross margin of 65% for the third quarter of 2021.
  • Non-GAAP Gross profit for the third quarter of 2022 was $26.8 million, representing a non-GAAP gross margin of 65%, compared to a non-GAAP gross profit of $28.1 million and non-GAAP gross margin of 65% for the third quarter of 2021.
  • GAAP Operating loss was $14.9 million for the third quarter of 2022, compared to an operating loss of $5.9 million for the third quarter of 2021.
  • Non-GAAP Operating loss was $7.6 million for the third quarter of 2022, compared to a non-GAAP operating loss of $2.7 million for the third quarter of 2021.
  • GAAP Net loss was $19.4 million or $0.15 per diluted share for the third quarter of 2022, compared to a GAAP net loss of $25.2 million, or $0.26 per diluted share, for the third quarter of 2021.
  • Non-GAAP Net loss was $12.2 million or $0.09 per diluted share for the third quarter of 2022, compared to a non-GAAP net loss of $5.1 million, or $0.04 per diluted share, for the third quarter of 2021.
  • Adjusted EBITDA was $(7.2) million for the third quarter of 2022, compared to adjusted EBITDA of $(2.3) million for the third quarter of 2021.
  • Net Cash Provided by (Used in) Operating Activities was $1.1 million for the third quarter of 2022, compared to $(5.7) million for the third quarter of 2021.

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