Kaltura (KLTR)


Market Price (8/6/2026): $1.89 | Market Cap: $278.9 MilSector: Information Technology | Industry: Application Software

Kaltura (KLTR)


Market Price (8/6/2026): $1.89
Market Cap: $278.9 Mil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include Digital Content & Streaming, and Cloud Computing. Themes include Video Streaming, Software as a Service (SaaS), Show more.

Trading close to highs
Dist 52W High is 0.0%

Weak multi-year price returns
3Y Excs Rtn is -75%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -1.0 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.5%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 55%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.9%

Key risks
KLTR key risks include [1] slowing growth and persistent unprofitability and [2] significant customer concentration with a dependency on a few major clients.

0 Megatrend and thematic drivers
Megatrends include Digital Content & Streaming, and Cloud Computing. Themes include Video Streaming, Software as a Service (SaaS), Show more.
1 Trading close to highs
Dist 52W High is 0.0%
2 Weak multi-year price returns
3Y Excs Rtn is -75%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -1.0 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.5%
4 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 55%
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.9%
6 Key risks
KLTR key risks include [1] slowing growth and persistent unprofitability and [2] significant customer concentration with a dependency on a few major clients.

KLTR in ETFs

Weight = KLTR's share of each fund

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Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/5/2026

Kaltura (KLTR) stock has gained about 40% since 4/30/2026 because of the following key factors:

1. Strong Financial Performance and Raised Guidance: Kaltura delivered impressive financial results for both fiscal Q1 and Q2 2026, consistently exceeding its own guidance. For fiscal Q1 2026, the company reported total revenue of $44.6 million and adjusted EBITDA of $5.7 million, both above the high end of its guidance range. This momentum continued into fiscal Q2 2026 (ended June 30, 2026), where total revenue reached $46.9 million (up 5% year over year), subscription revenue grew 8% to $45.6 million, and adjusted EBITDA surged 44% year over year to $5.9 million, significantly surpassing the prior guidance of $2 million to $3 million. Following these strong performances, Kaltura raised its full-year 2026 guidance for total revenue to $183 million-$185 million and adjusted EBITDA to $15.8 million-$17.2 million.

2. Accelerated AI Momentum and Product Innovation: The company demonstrated significant progress and commercial traction in its artificial intelligence (AI) offerings during the period. Kaltura signed 14 AI-related deals, including eight with new customers, generating approximately $1 million in total contract value during fiscal Q2 2026. Its AI pipeline also expanded to over 500 opportunities, representing about $17 million in potential annual contract value. Key innovations include the launch of Agentic Avatars and enhanced AI video platform services, aimed at transforming digital experiences with conversational AI and AI-powered content creation.

Show more
Updated on 8/5/2026

Kaltura (KLTR) stock has gained about 40% since 4/30/2026 because of the following key factors:

1. Strong Financial Performance and Raised Guidance: Kaltura delivered impressive financial results for both fiscal Q1 and Q2 2026, consistently exceeding its own guidance. For fiscal Q1 2026, the company reported total revenue of $44.6 million and adjusted EBITDA of $5.7 million, both above the high end of its guidance range. This momentum continued into fiscal Q2 2026 (ended June 30, 2026), where total revenue reached $46.9 million (up 5% year over year), subscription revenue grew 8% to $45.6 million, and adjusted EBITDA surged 44% year over year to $5.9 million, significantly surpassing the prior guidance of $2 million to $3 million. Following these strong performances, Kaltura raised its full-year 2026 guidance for total revenue to $183 million-$185 million and adjusted EBITDA to $15.8 million-$17.2 million.

2. Accelerated AI Momentum and Product Innovation: The company demonstrated significant progress and commercial traction in its artificial intelligence (AI) offerings during the period. Kaltura signed 14 AI-related deals, including eight with new customers, generating approximately $1 million in total contract value during fiscal Q2 2026. Its AI pipeline also expanded to over 500 opportunities, representing about $17 million in potential annual contract value. Key innovations include the launch of Agentic Avatars and enhanced AI video platform services, aimed at transforming digital experiences with conversational AI and AI-powered content creation.

3. Key Industry Recognitions and Market Leadership: Kaltura garnered multiple prestigious industry accolades and recognitions, underscoring its strengthening market position. The company was positioned as a Leader in the IDC MarketScape for Worldwide Virtual Events Applications 2026. Additionally, it was recognized as a Representative Vendor in two 2026 Gartner Market Guides, specifically for Meeting Solutions and Video Platform Services. Further boosting its profile, Kaltura was named the 2026 Frost & Sullivan Global Company of the Year.

4. Positive Analyst Sentiment and Price Targets: Wall Street analysts maintained a generally positive outlook on Kaltura's stock, with a consensus rating of "Buy" or "Hold" across various reports. The average 12-month price target for KLTR ranged from $3.00 to $3.50, suggesting a substantial upside potential from its trading levels during the specified period.

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Stock Movement Drivers

Fundamental Drivers

The 38.0% change in KLTR stock from 4/30/2026 to 8/5/2026 was primarily driven by a 36.3% change in the company's P/S Multiple.
(LTM values as of)43020268052026Change
Stock Price ($)1.371.8938.0%
Change Contribution By: 
Total Revenues ($ Mil)1811810.0%
P/S Multiple1.11.536.3%
Shares Outstanding (Mil)1491481.2%
Cumulative Contribution38.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/5/2026
ReturnCorrelation
KLTR38.0% 
Market (SPY)7.1%11.5%
Sector (XLK)16.6%6.6%

Fundamental Drivers

The 16.0% change in KLTR stock from 1/31/2026 to 8/5/2026 was primarily driven by a 10.6% change in the company's P/S Multiple.
(LTM values as of)13120268052026Change
Stock Price ($)1.631.8916.0%
Change Contribution By: 
Total Revenues ($ Mil)1811810.0%
P/S Multiple1.41.510.6%
Shares Outstanding (Mil)1551484.9%
Cumulative Contribution16.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/5/2026
ReturnCorrelation
KLTR16.0% 
Market (SPY)11.5%14.4%
Sector (XLK)29.4%10.9%

Fundamental Drivers

The 5.6% change in KLTR stock from 7/31/2025 to 8/5/2026 was primarily driven by a 4.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)73120258052026Change
Stock Price ($)1.791.895.6%
Change Contribution By: 
Total Revenues ($ Mil)1811810.0%
P/S Multiple1.51.51.2%
Shares Outstanding (Mil)1541484.4%
Cumulative Contribution5.6%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/5/2026
ReturnCorrelation
KLTR5.6% 
Market (SPY)22.8%17.4%
Sector (XLK)42.1%10.9%

Fundamental Drivers

The -6.4% change in KLTR stock from 7/31/2023 to 8/5/2026 was primarily driven by a -8.5% change in the company's Shares Outstanding (Mil).
(LTM values as of)73120238052026Change
Stock Price ($)2.021.89-6.4%
Change Contribution By: 
Total Revenues ($ Mil)1701816.2%
P/S Multiple1.61.5-3.7%
Shares Outstanding (Mil)135148-8.5%
Cumulative Contribution-6.4%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/5/2026
ReturnCorrelation
KLTR-6.4% 
Market (SPY)74.1%29.7%
Sector (XLK)112.4%25.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
KLTR Return-72%-49%13%13%-25%-15%-88%
Peers Return-5%-35%19%3%-9%27%-13%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
KLTR Win Rate0%42%25%42%33%50% 
Peers Win Rate52%32%57%52%48%65% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
KLTR Max Drawdown--62%-30%-58%-50%-34% 
Peers Max Drawdown-36%-51%-30%-27%-30%-30% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ZM, RNG, BOX, DBX, ADBE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/5/2026 (YTD)

How Low Can It Go

EventKLTRS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-21.9%-9.5%
  % Gain to Breakeven28.0%10.5%
  Time to Breakeven395 days24 days
2023 SVB Regional Banking Crisis
  % Loss-23.7%-6.7%
  % Gain to Breakeven31.0%7.1%
  Time to Breakeven49 days31 days

Compare to ZM, RNG, BOX, DBX, ADBE

In The Past

Kaltura's stock fell -10.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 11.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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EventKLTRS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-21.9%-9.5%
  % Gain to Breakeven28.0%10.5%
  Time to Breakeven395 days24 days
2023 SVB Regional Banking Crisis
  % Loss-23.7%-6.7%
  % Gain to Breakeven31.0%7.1%
  Time to Breakeven49 days31 days

Compare to ZM, RNG, BOX, DBX, ADBE

In The Past

Kaltura's stock fell -10.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 11.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Kaltura (KLTR)

Kaltura, Inc. (KLTR) is a leading provider of Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) solutions centered around video technology. The company enables organizations to leverage video for a wide array of purposes, including internal and external communication, collaboration, training, and enhancing customer experiences. Essentially, Kaltura provides the infrastructure and tools for businesses and institutions to create, manage, distribute, and monetize video content efficiently.

The company's offerings span several key product areas. These include comprehensive video products for general enterprise use, such as virtual events, webinars, video websites, and virtual classrooms. For the education sector, Kaltura delivers specialized solutions like learning management system (LMS) video integration and lecture capture. Furthermore, it provides a TV solution for media companies and telecom operators, facilitating over-the-top (OTT) advertising and subscription-based live and on-demand TV services. Underlying these solutions are its media services, which provide APIs and SDKs for the entire video lifecycle, from creation and ingestion to transcoding, management, distribution, monetization, and analytics.

Kaltura serves a diverse global customer base across numerous industries. Its primary markets include financial services, high technology, healthcare, and the public sector, where video is crucial for internal operations and client engagement. It also has a strong presence in the education sector, supporting both K-12 and higher education institutions. Additionally, Kaltura is a key partner for media companies and telecommunications operators looking to offer advanced video and TV services to their audiences.

AI Analysis | Feedback

Here are a few brief analogies for Kaltura (KLTR):

  • Kaltura is like Shopify for video solutions, providing the underlying platform and tools for businesses and institutions to create, manage, and deliver their own comprehensive video experiences.
  • Kaltura is the technology platform that enables companies to build their own Netflix or Zoom, offering tools for everything from branded streaming services to virtual events and classrooms.

AI Analysis | Feedback

  • Video Communication & Collaboration Solutions: Software-as-a-Service products for webinars, virtual events, video sites, and virtual classrooms to facilitate video-based communication, collaboration, training, and customer experience.
  • Educational Video Solutions: Specialized solutions for educational institutions, including video integration with learning management systems and lecture capture capabilities.
  • OTT TV Solutions: A platform enabling media companies and telecom operators to offer subscription-based or advertising-supported live and on-demand TV services.
  • Video & TV Content Management Systems (CMS): Systems for managing the creation, ingestion, transcoding, distribution, publishing, and analytics of video and TV content.
  • Media APIs & SDKs: Platform-as-a-Service components and developer tools for building custom video experiences, covering the entire video lifecycle from creation to monetization and monitoring.

AI Analysis | Feedback

Based on the provided company description, Kaltura (KLTR) primarily sells its Software-as-a-Service and Platform-as-a-Service products and solutions to other companies and institutions (a Business-to-Business, or B2B, model).

While specific names of major customer companies are not explicitly listed in the background information, Kaltura serves a diverse range of organizations across various industries. Its major customer categories, based on the services and solutions provided, include:

  • Educational Institutions: Kaltura offers learning management system video and lecture capture solutions for educational institutions.
  • Media Companies: The company provides TV solutions for OTT advertising and subscription-based live and on-demand TV services to media companies.
  • Telecom Operators: Kaltura's TV solutions also cater to telecom operators for OTT advertising and subscription-based live and on-demand TV services.
  • Organizations in Financial Services, High Technology, Healthcare, and Public Sector: Kaltura serves these industries with video products for communication, collaboration, training, and customer experience.

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  • Amazon.com, Inc. (AMZN)

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Ron Yekutiel

Chairman, President & Chief Executive Officer
Ron Yekutiel is a co-founder of Kaltura and has served as its Chief Executive Officer and Chairman of the board of directors since October 2006, adding the President title in January 2024. Prior to co-founding Kaltura, Mr. Yekutiel co-founded VisualGate Systems Inc., a video surveillance company, in 2003. He also co-founded and led GPSoft Ltd and the Destinator business unit in Paradigm Advanced Technologies Inc., a GPS navigation and tracking company, starting in 2001. He served as General Manager of Destinator Technologies, Inc. from 2000 to 2003 and Senior Vice President of Paradigm Advanced Technologies, Inc. from 2001 to 2003. Mr. Yekutiel was also the Chairman of VisualGate Systems, Inc. from 2003 to 2006. He earned a Master of Business Administration from the Wharton School of the University of Pennsylvania in 2005.

Liron Sharon

Executive Vice President of FP&A and Interim Principal Financial Officer
Liron Sharon was appointed as the Interim Principal Financial Officer of Kaltura, effective December 6, 2025. She brings over 20 years of experience in establishing, shaping, and leading financial departments focused on Financial Planning & Analysis (FP&A) and procurement. Before joining Kaltura, Ms. Sharon established and led FP&A at CyberArk (Nasdaq: CYBR) for nearly seven years, where she played a role in the company's business model transition to recurring revenue (SaaS & Subscription). Her prior experience also includes working at publicly traded companies such as Alvarion, ECI Telecom, and ICL.

Claire Rotshten

EVP Finance and Interim Principal Accounting Officer
Claire Rotshten serves as Kaltura's EVP Finance and was appointed Interim Principal Accounting Officer, effective December 6, 2025. She has more than 20 years of experience in leading financial operations for technology companies. Before joining Kaltura in 2014, Ms. Rotshten held finance positions at global, private, and publicly traded technology companies, including Kenshoo, Alvarion Ltd., and Risco Group.

Natan Israeli

Chief Customer and Commercial Officer
Natan Israeli brings several decades of experience to Kaltura. His career includes a long tenure in the Israeli Air Force (IAF), where he rose from helicopter pilot to brigadier general. In the IAF, Mr. Israeli managed the information systems as a CIO and later became the Head of Human Resources, responsible for tens of thousands of personnel. More recently, he served as the CEO for Ambar A.M. Enterprise Ltd., a company active in the energy, infrastructure, and technology industries.

Eynav "Navi" Azaria

Chief Product, Engineering and Marketing Officer
Eynav "Navi" Azaria holds the title of Chief Product, Engineering and Marketing Officer at Kaltura. Previously, she served as the Chief Product Officer. Before her current role, Ms. Azaria led Kaltura's Enterprise Education and Technology Business. Approximately two years prior to August 2022, she managed the commercial side of the company and was the CEO of Panorama.

AI Analysis | Feedback

Kaltura (KLTR) faces several key risks that could impact its business, primarily centered around its financial performance, intense competition, and the successful integration of strategic acquisitions and new technology offerings.

  1. Declining Revenue, Execution & Retention, and Financial Challenges: Kaltura has experienced declines in Annual Recurring Revenue (ARR) and a low Net Dollar Retention (NDR) rate, indicating difficulties in retaining existing customers and growing revenue from them. Historically, the company has grappled with operating losses, and despite recent improvements in adjusted EBITDA, concerns persist regarding its ability to achieve sustained profitability. Furthermore, Kaltura's financial profile includes a high debt-to-equity ratio and a low Altman Z-Score, which suggests potential financial distress and a higher risk of bankruptcy. The company also faces customer concentration risk, where the loss of key clients or a decrease in revenue from them could significantly affect financial stability.

  2. Intense Competition and Market Share Loss: Operating in the enterprise video platform and digital experience market, Kaltura faces significant competitive pressures from larger, well-capitalized technology companies such as Microsoft and Zoom, which offer bundled solutions, as well as from smaller, specialized private competitors. This competitive landscape can lead to pricing pressures and limits Kaltura's ability to invest as aggressively in research and development or sales and marketing, potentially resulting in market share loss.

  3. Acquisition Integration and Realizing Value from New Offerings: Kaltura has undertaken strategic acquisitions, such as eSelf and PathFactory, aimed at enhancing its platform with AI capabilities and expanding its market reach. However, there are inherent risks associated with successfully integrating these acquired businesses and realizing the anticipated synergies. The timing and pace of revenue contribution from these new offerings, particularly those driven by AI, remain uncertain and could take a considerable amount of time to produce meaningful results, posing a risk to the company's growth projections.

AI Analysis | Feedback

The increasing consolidation and integration of sophisticated video communication, content management, and delivery features by major cloud providers (e.g., AWS, Microsoft Azure, Google Cloud) and large technology companies (e.g., Zoom, Microsoft, Google) into their broader enterprise offerings. These entities are continuously enhancing their platforms to offer comprehensive video infrastructure, communication tools, and specialized event/learning solutions, potentially eroding Kaltura's market differentiation and customer base for both its Platform-as-a-Service and Software-as-a-Service offerings.

AI Analysis | Feedback

Kaltura (NASDAQ: KLTR) operates in several significant addressable markets globally, encompassing enterprise video, virtual events, education technology, and over-the-top (OTT) streaming solutions. Here are the estimated market sizes for Kaltura's main products and services:
  • Enterprise Video Market: The global enterprise video market was valued at approximately USD 22.45 billion in 2024 and is projected to reach USD 55.21 billion by 2032. Another estimate places the global market at USD 23.8 billion in 2024, expected to grow to USD 35.8 billion by 2029. More broadly, the global enterprise video market is expected to expand from USD 27.6 billion in 2025 to USD 77 billion by 2035. North America represents a significant portion of this market, holding the largest revenue share in 2023.
  • Webinar Software Market: The global webinar software market was estimated at USD 1.5 billion in 2023 and is projected to reach USD 4.2 billion by 2032. Another report states the global webinar software market size was USD 9.4 billion in 2024 and is poised to grow to USD 31.05 billion by 2033.
  • Virtual Events Market: The global virtual events market was valued at USD 392.10 billion in 2023 and is estimated to reach USD 1,388.4 billion by 2035. Other estimates for the global virtual events market include USD 98.07 billion in 2024, projected to reach USD 297.16 billion by 2030, and USD 116.31 billion in 2024, growing to USD 618.36 billion by 2033. The global virtual event platform market, a subset, is estimated at USD 15.99 billion in 2025 and is predicted to reach USD 41.12 billion by 2035.
  • Lecture Capture Systems Market (Educational Institutions): The global lecture capture systems market was valued at USD 15.5 billion by the end of 2024 and is expected to grow to USD 217.4 billion by 2033. Another source indicates a market size of USD 13.65 billion in 2025, estimated to reach USD 59.39 billion by 2031. North America held the largest market share in this segment in 2024.
  • Over-The-Top (OTT) Streaming Market: The global OTT streaming market was valued at USD 316.76 billion in 2024, with projections to reach USD 2.816 trillion by 2034. The global OTT media services market is expected to grow from USD 292.12 billion in 2025 to USD 695.68 billion by 2031. For OTT devices and services, the global market size was USD 293.54 billion in 2024 and is expected to reach approximately USD 2,588.71 billion by 2034.
  • Video as a Service (VaaS) / Video Platform Service Market: The global Video as a Service (VaaS) market was valued at USD 9.45 billion in 2024 and is projected to grow significantly from 2025 to 2030. Other estimates place the global VaaS market at USD 6.45 billion in 2025, projected to grow to USD 23.14 billion by 2034 and USD 5.53 billion in 2023, expected to reach USD 20.35 billion by 2032. The global Video Platform Service market is projected to reach USD 14.02 billion by 2025. North America is a dominant region in the VaaS market.
  • Education Technology (EdTech) Market: The broader global EdTech market, which includes video solutions for education, was valued at USD 189.9 billion in 2023 and is expected to be worth around USD 755.8 billion by 2033. Another estimate shows the global EdTech market size at USD 189.15 billion in 2025, projected to grow to USD 588.72 billion by 2034.
Kaltura itself stated its estimated total addressable market was USD 55 billion in 2021. More recently, as of March 2026, Kaltura announced strategic acquisitions aimed at broadening its addressable market from USD 3 billion to as much as USD 50 billion, emphasizing its competitive positioning across enterprise video management, virtual events and webinars, and cloud TV software.

AI Analysis | Feedback

Expected Drivers of Future Revenue Growth for Kaltura (KLTR)

Kaltura (KLTR) anticipates several key drivers to fuel its revenue growth over the next 2-3 years, primarily centered around its strategic shift towards an AI-infused agentic digital experience platform and targeted acquisitions:

  1. Expansion of the Agentic Digital Experience Platform: Kaltura is strategically expanding its platform to integrate rich media, conversational AI, and journey orchestration into a unified "agentic digital experience platform." This platform evolution is designed to broaden the company's addressable market and enhance its competitive positioning. The launch of agentic AI conversational avatars and an associated SDK are integral to this expansion.
  2. Strategic Acquisitions (eSelf.ai and PathFactory):
    • The acquisition of eSelf.ai is expected to accelerate Kaltura's immersive AI virtual agent offerings, drive product-led growth, and expand its target market to include small and medium businesses across various industries.
    • The acquisition of PathFactory aims to enhance Kaltura's platform with AI-driven content journey capabilities and create cross-selling opportunities. This acquisition is specifically anticipated to contribute to growth in the Enterprise, Education, and Technology (EE&T) segment starting in the second half of 2026.
  3. New Customer Acquisition and Broader Use Case Applicability: The enhanced platform and AI capabilities are expected to facilitate the acquisition of new customers, particularly those seeking advanced "agentic experiences." This also includes an expansion into product-led growth strategies and self-serve offerings for immersive virtual agents.
  4. Growth in the Enterprise, Education, and Technology (EE&T) Segment: Kaltura expects a higher year-over-year growth rate within its EE&T segment, driven by contributions from the newly acquired PathFactory customer base and the introduction of new products. This growth is projected to be more pronounced in the latter half of 2026.
  5. Channel and Down-Market Expansion: Management has identified expanding through new channels and targeting the down-market segment as a significant growth driver, aligning with the goal of reaching small and medium businesses through new offerings.

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Share Repurchases

  • In March 2025, Kaltura announced a stock repurchase program authorizing the buyback of up to $15 million of its common stock, replacing a prior $5 million program announced in June 2024.
  • Kaltura repurchased 14.4 million shares from Goldman Sachs in November 2025 for approximately $16.6 million.

Share Issuance

  • Kaltura's Initial Public Offering (IPO) in July 2021 involved pricing 15,000,000 shares of common stock at $10.00 per share, generating approximately $150.0 million in gross proceeds.
  • In February 2025, an additional 7,602,857 shares of common stock were registered under the Kaltura, Inc. 2021 Incentive Award Plan.
  • As part of the eSelf.ai acquisition in December 2025, Kaltura issued up to 4,690,025 shares of its common stock as equity consideration.

Outbound Investments

  • Kaltura signed a definitive agreement in March 2026 to acquire PathFactory for approximately $22 million in cash, aiming to enhance AI-driven content intelligence and journey orchestration.
  • In December 2025, Kaltura completed the acquisition of eSelf.ai for up to $20 million in cash and equity, including $7.5 million paid upfront. This acquisition added conversational agentic AI capabilities to Kaltura's offerings.
  • Kaltura entered into a two-year Strategic Collaboration Agreement with Amazon Web Services (AWS) in March 2025 to advance AI-powered video solutions and broaden its global reach.

Capital Expenditures

  • Kaltura's capital expenditures were $5.98 million in 2022, $4.10 million in 2023, and $0.52 million in 2024.
  • For the latest 12 months as of early 2026 (Q3 2025), capital expenditures were reported at -$634,000, suggesting a net reduction in capital assets, or a small expenditure of $0.1 million.

Better Bets vs. Kaltura (KLTR)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Kaltura Earnings Notes12/16/2025
2How Low Can Kaltura Stock Really Go?10/17/2025
Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

KLTRZMRNGBOXDBXADBEMedian
NameKaltura Zoom Com.RingCent.Box Dropbox Adobe  
Mkt Price1.89100.6461.3532.0035.00259.3248.18
Mkt Cap0.329.65.24.58.2104.26.7
Rev LTM1814,9332,5841,2072,52625,1982,555
Op Inc LTM-11,1931741046779,090425
FCF LTM101,96157632698010,280778
FCF 3Y Avg81,7694723098758,695674
CFO LTM122,0216713701,00210,481837
CFO 3Y Avg101,8795573418988,893728

Growth & Margins

KLTRZMRNGBOXDBXADBEMedian
NameKaltura Zoom Com.RingCent.Box Dropbox Adobe  
Rev Chg LTM-0.2%5.0%5.2%9.5%-0.6%11.5%5.1%
Rev Chg 3Y Avg1.7%3.7%7.1%6.3%2.1%11.0%5.0%
Rev Chg Q5.5%5.5%5.9%10.7%0.8%12.7%5.7%
QoQ Delta Rev Chg LTM1.4%1.3%1.4%2.5%0.2%3.0%1.4%
Op Inc Chg LTM92.2%40.0%162.1%53.5%28.5%10.6%46.7%
Op Inc Chg 3Y Avg60.5%337.9%124.7%33.9%24.5%13.6%47.2%
Op Mgn LTM-0.5%24.2%6.7%8.6%26.8%36.1%16.4%
Op Mgn 3Y Avg-8.7%19.4%1.5%6.9%21.7%35.9%13.1%
QoQ Delta Op Mgn LTM1.1%1.1%0.4%1.6%-0.5%-0.6%0.8%
CFO/Rev LTM6.4%41.0%26.0%30.6%39.7%41.6%35.2%
CFO/Rev 3Y Avg5.3%39.7%22.6%30.4%35.5%38.8%33.0%
FCF/Rev LTM5.7%39.7%22.3%27.0%38.8%40.8%32.9%
FCF/Rev 3Y Avg4.6%37.3%19.1%27.6%34.6%37.9%31.1%

Valuation

KLTRZMRNGBOXDBXADBEMedian
NameKaltura Zoom Com.RingCent.Box Dropbox Adobe  
Mkt Cap0.329.65.24.58.2104.26.7
P/S1.56.02.03.73.34.13.5
P/Op Inc-285.824.829.742.712.211.518.5
P/EBIT-66.524.828.336.112.011.118.4
P/E-22.314.346.835.617.414.415.9
P/CFO24.014.77.712.08.29.911.0
Total Yield-4.5%7.0%2.4%2.8%5.7%6.9%4.3%
Dividend Yield0.0%0.0%0.2%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg3.3%8.0%16.7%7.6%12.0%6.9%7.8%
D/E0.20.00.20.10.50.10.1
Net D/E0.0-0.30.20.00.30.00.0

Returns

KLTRZMRNGBOXDBXADBEMedian
NameKaltura Zoom Com.RingCent.Box Dropbox Adobe  
1M Rtn45.4%18.5%56.4%12.9%22.8%18.9%20.8%
3M Rtn35.0%-4.3%34.4%32.0%41.8%3.7%33.2%
6M Rtn31.2%10.8%132.9%29.4%39.4%-7.3%30.3%
12M Rtn12.5%40.4%160.6%1.4%33.9%-23.4%23.2%
3Y Rtn-11.7%45.7%59.3%4.6%27.3%-50.8%16.0%
1M Excs Rtn43.6%14.5%48.0%8.0%18.4%14.1%16.5%
3M Excs Rtn21.3%-14.2%22.3%20.5%31.3%-4.9%20.9%
6M Excs Rtn14.4%1.8%136.4%20.1%27.7%-16.3%17.2%
12M Excs Rtn-10.8%17.6%136.7%-22.0%9.2%-45.5%-0.8%
3Y Excs Rtn-74.7%-31.1%-19.5%-65.9%-38.4%-120.8%-52.2%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Enterprise, Education and Technology134129125120119
Media and Telecom4650504946
Total181179175169165


Price Behavior

Price Behavior
Market Price$1.89 
Market Cap ($ Bil)0.3 
First Trading Date07/21/2021 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$1.39$1.44
DMA Trenddownindeterminate
Distance from DMA35.6%31.1%
 3M1YR
Volatility84.2%74.2%
Downside Capture-57.63101.58
Upside Capture82.3190.48
Correlation (SPY)24.4%19.4%
KLTR Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta0.940.980.930.851.061.30
Up Beta-1.160.410.000.230.491.26
Down Beta1.210.581.290.741.101.00
Up Capture195%99%97%84%89%202%
Bmk +ve Days11223567138427
Stock +ve Days11192957112328
Down Capture108%153%115%128%131%110%
Bmk -ve Days11212859114326
Stock -ve Days9202757115348

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with KLTR
KLTR11.2%74.0%0.43-
Sector ETF (XLK)42.5%25.9%1.3310.0%
Equity (SPY)23.1%12.9%1.3416.1%
Gold (GLD)25.4%28.3%0.796.8%
Commodities (DBC)29.5%19.8%1.19-1.4%
Real Estate (VNQ)14.4%13.7%0.747.4%
Bitcoin (BTCUSD)-44.6%42.9%-1.2518.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with KLTR
KLTR-30.4%70.6%-0.21-
Sector ETF (XLK)20.4%25.8%0.7029.7%
Equity (SPY)13.4%17.2%0.6031.6%
Gold (GLD)18.2%18.6%0.792.9%
Commodities (DBC)8.1%19.6%0.314.3%
Real Estate (VNQ)2.5%18.9%0.0321.6%
Bitcoin (BTCUSD)9.9%53.0%0.3719.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with KLTR
KLTR-17.1%70.4%-0.23-
Sector ETF (XLK)24.6%24.9%0.8929.7%
Equity (SPY)15.3%17.9%0.7331.6%
Gold (GLD)12.0%16.2%0.602.9%
Commodities (DBC)7.1%18.0%0.314.3%
Real Estate (VNQ)4.9%20.7%0.2021.6%
Bitcoin (BTCUSD)58.2%66.2%0.9818.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity1.7 Mil
Short Interest: % Change Since 630202619.6%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest9.3 days
Basic Shares Quantity147.6 Mil
Short % of Basic Shares1.2%

Returns Analyses

Earnings Returns History

Updated 8/5/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/11/20266.6%10.3%4.4%
3/16/2026-9.4%-12.2%-18.0%
11/10/202525.2%6.1%14.3%
8/7/20250.0%-4.7%-14.6%
5/8/2025-0.9%0.9%1.4%
2/20/2025-2.0%-13.2%-26.8%
11/6/202421.8%47.2%59.2%
8/8/20246.1%7.0%-5.2%
...
SUMMARY STATS   
# Positive121110
# Negative8910
Median Positive6.4%8.0%5.7%
Median Negative-6.6%-6.8%-17.3%
Max Positive25.2%47.2%59.2%
Max Negative-40.9%-36.5%-55.1%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/11/20266.6%10.3%4.4%
3/16/2026-9.4%-12.2%-18.0%
11/10/202525.2%6.1%14.3%
8/7/20250.0%-4.7%-14.6%
5/8/2025-0.9%0.9%1.4%
2/20/2025-2.0%-13.2%-26.8%
11/6/202421.8%47.2%59.2%
8/8/20246.1%7.0%-5.2%
5/8/2024-3.9%-3.9%-34.0%
2/22/20240.7%-4.1%-6.9%
11/8/20232.8%5.1%1.7%
8/2/20237.6%4.5%1.0%
5/9/20235.7%8.0%0.0%
2/22/2023-2.0%-4.0%-3.0%
11/10/202210.2%12.0%10.2%
8/9/2022-10.5%-6.8%-16.5%
5/10/20225.7%17.7%35.5%
2/23/2022-40.9%-26.0%-31.8%
11/3/2021-27.9%-36.5%-55.1%
8/18/20217.5%12.3%7.0%
SUMMARY STATS   
# Positive121110
# Negative8910
Median Positive6.4%8.0%5.7%
Median Negative-6.6%-6.8%-17.3%
Max Positive25.2%47.2%59.2%
Max Negative-40.9%-36.5%-55.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/11/202610-Q
12/31/202503/16/202610-K
09/30/202511/10/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/20/202510-K
09/30/202411/06/202410-Q
06/30/202408/08/202410-Q
03/31/202405/08/202410-Q
12/31/202302/22/202410-K
09/30/202311/08/202310-Q
06/30/202308/02/202310-Q
03/31/202305/09/202310-Q
12/31/202202/24/202310-K
09/30/202211/10/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/11/202610-Q
12/31/202503/16/202610-K
09/30/202511/10/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/20/202510-K
09/30/202411/06/202410-Q
06/30/202408/08/202410-Q
03/31/202405/08/202410-Q
12/31/202302/22/202410-K
09/30/202311/08/202310-Q
06/30/202308/02/202310-Q
03/31/202305/09/202310-Q
12/31/202202/24/202310-K
09/30/202211/10/202210-Q
06/30/202208/10/202210-Q
03/31/202205/11/202210-Q
12/31/202102/25/202210-K
09/30/202111/04/202110-Q
06/30/202108/19/202110-Q
03/31/202107/22/2021424B4

Recent Forward Guidance

Updated 7/27/2026

Latest: Q1 2026 Earnings Reported 5/11/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Subscription Revenue43.30 Mil43.70 Mil44.10 Mil   
Q2 2026 Total Revenue45.20 Mil45.60 Mil46.00 Mil   
Q2 2026 Adjusted EBITDA2.00 Mil2.50 Mil3.00 Mil   
2026 Subscription Revenue174.50 Mil175.60 Mil176.70 Mil0.9% RaisedGuidance: 174.00 Mil for 2026
2026 Total Revenue182.60 Mil183.70 Mil184.80 Mil0.5% RaisedGuidance: 182.70 Mil for 2026
2026 Adjusted EBITDA13.80 Mil14.50 Mil15.20 Mil5.8% RaisedGuidance: 13.70 Mil for 2026

Prior: Q4 2025 Earnings Reported 3/16/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Subscription Revenue41.20 Mil41.60 Mil42.00 Mil-0.8% Lower NewGuidance: 41.95 Mil for Q4 2025
Q1 2026 Total Revenue42.60 Mil43.00 Mil43.40 Mil-5.2% Lower NewGuidance: 45.35 Mil for Q4 2025
Q1 2026 Adjusted EBITDA2.30 Mil2.80 Mil3.30 Mil-40.4% Lower NewGuidance: 4.70 Mil for Q4 2025
2026 Subscription Revenue172.50 Mil174.00 Mil175.50 Mil1.6% Higher NewGuidance: 171.25 Mil for 2025
2026 Total Revenue181.20 Mil182.70 Mil184.20 Mil1.1% Higher NewGuidance: 180.65 Mil for 2025
2026 Adjusted EBITDA12.70 Mil13.70 Mil14.70 Mil-19.9% Lower NewGuidance: 17.10 Mil for 2025

Q3 2025 Earnings Reported 11/10/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Subscription Revenue41.60 Mil41.95 Mil42.30 Mil1.8% RaisedGuidance: 41.20 Mil for Q3 2025
Q4 2025 Total Revenue45.00 Mil45.35 Mil45.70 Mil5.0% RaisedGuidance: 43.20 Mil for Q3 2025
Q4 2025 Adjusted EBITDA4.20 Mil4.70 Mil5.20 Mil135.0% RaisedGuidance: 2.00 Mil for Q3 2025
2025 Subscription Revenue170.90 Mil171.25 Mil171.60 Mil-0.4% LoweredGuidance: 171.90 Mil for 2025
2025 Total Revenue180.30 Mil180.65 Mil181.00 Mil-0.4% LoweredGuidance: 181.40 Mil for 2025
2025 Adjusted EBITDA16.60 Mil17.10 Mil17.60 Mil12.1% RaisedGuidance: 15.25 Mil for 2025

Insider Activity

Updated 7/29/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Israeli, NatanChief Customer OfficerDirectSell72920261.501001503,103,288Form
2Azaria, EynavSee RemarksDirectSell72420261.426,3018,9723,070,672Form
3Azaria, EynavSee RemarksDirectSell72220261.413,4804,9143,054,339Form
4Azaria, EynavSee RemarksDirectSell72220261.402,7773,8963,039,323Form
5Manor, Eyal DirectSell62920261.3034,60145,033571,835Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Israeli, NatanChief Customer OfficerDirectSell72920261.501001503,103,288Form
2Azaria, EynavSee RemarksDirectSell72420261.426,3018,9723,070,672Form
3Azaria, EynavSee RemarksDirectSell72220261.413,4804,9143,054,339Form
4Azaria, EynavSee RemarksDirectSell72220261.402,7773,8963,039,323Form
5Manor, Eyal DirectSell62920261.3034,60145,033571,835Form
6Azaria, EynavSee RemarksDirectSell62220261.4010,21714,3453,045,388Form
7Azaria, EynavSee RemarksDirectSell61720261.4812,07317,9193,241,114Form
8Israeli, NatanChief Customer OfficerDirectSell61720261.504,0136,0303,109,025Form
9Israeli, NatanChief Customer OfficerDirectSell61720261.504,5946,9043,115,470Form
10Azaria, EynavSee RemarksDirectSell61720261.4819,45628,8693,258,155Form
11Azaria, EynavSee RemarksDirectSell61620261.4113,24218,6903,126,638Form
12Azaria, EynavSee RemarksDirectSell61620261.414,2195,9553,145,550Form
13Azaria, EynavSee RemarksDirectSell61620261.418,34411,7883,154,185Form
14Azaria, EynavSee RemarksDirectSell61520261.416,9759,8113,152,302Form
15Azaria, EynavSee RemarksDirectSell61020261.418,25411,6063,160,989Form
16Azaria, EynavSee RemarksDirectSell60820261.432,7653,9483,221,782Form
17Azaria, EynavSee RemarksDirectSell60820261.4416,21823,3093,246,740Form
18Israeli, NatanChief Customer OfficerDirectSell60420261.502003003,116,349Form
19Azaria, EynavSee RemarksDirectSell60420261.494356473,381,765Form
20Israeli, NatanChief Customer OfficerDirectSell60420261.5216,63125,3073,161,737Form
21Azaria, EynavSee RemarksDirectSell60320261.537,41211,3493,484,364Form
22Israeli, NatanChief Customer OfficerDirectSell60320261.5722,87735,9993,295,743Form
23Azaria, EynavSee RemarksDirectSell60220261.5721,88434,3033,578,819Form
24Israeli, NatanChief Customer OfficerDirectSell60220261.5421,85433,5813,253,403Form
25Israeli, NatanChief Customer OfficerDirectSell60120261.5223,19535,2333,249,335Form
26Israeli, NatanChief Customer OfficerDirectSell60120261.502003003,243,484Form
27Israeli, NatanChief Customer OfficerDirectSell52620261.511,8362,7753,268,221Form
28Israeli, NatanChief Customer OfficerDirectSell52220261.503,6005,4083,251,300Form
29Israeli, NatanChief Customer OfficerDirectSell52220261.5213,96521,1853,288,794Form
30Israeli, NatanChief Customer OfficerDirectSell52220261.5213,22920,0453,306,051Form
31Israeli, NatanChief Customer OfficerDirectSell52020261.509,82914,7923,303,486Form
32Israeli, NatanChief Customer OfficerDirectSell51820261.516,3349,5413,325,782Form
33Israeli, NatanChief Customer OfficerDirectSell51820261.5128,88243,7043,350,602Form
34Israeli, NatanChief Customer OfficerDirectSell51420261.501001503,364,696Form
35Azaria, EynavSee RemarksDirectSell50620261.4717,67126,0263,396,116Form
36Israeli, NatanChief Customer OfficerDirectSell50620261.505,1307,7143,373,371Form
37Azaria, EynavSee RemarksDirectSell50420261.4414,86121,4683,356,618Form
38Azaria, EynavSee RemarksDirectSell50420261.402,6723,7503,281,743Form
39Azaria, EynavSee RemarksDirectSell50120261.4511,08616,0493,389,203Form
40Israeli, NatanChief Customer OfficerDirectSell42920260.0020,548  Form
41Azaria, EynavSee RemarksDirectSell42920260.0070,838  Form
42Yekutiel, RonChief Executive OfficerDirectBuy32520261.2440,00049,56818,706,651Form
43Rotshten, ClaireEVP of FinanceDirectBuy32520261.2910,00012,9001,341,565Form
44Serero, Liron NetanelaSee remarksDirectBuy32520261.285,0006,400879,090Form
45Halevi-Davidov, Naama DirectSell32320261.21131,873159,289286,042Form
46Yekutiel, RonChief Executive OfficerDirectBuy32320261.1443,55049,63017,111,405Form
47Halevi-Davidov, Naama DirectSell31920261.2093,624112,686443,746Form
48Manor, Eyal DirectSell111720251.8227,95650,880619,954Form
49Manor, Eyal DirectSell111420251.80400720663,462Form
50Doherty, John NChief Financial OfficerDirectSell100820251.5218,58028,2422,163,234Form
51Doherty, John NChief Financial OfficerDirectSell90420251.4938,11456,7902,148,222Form
52Doherty, John NChief Financial OfficerDirectSell70320251.9714,82829,2112,915,352Form
Core Cache Last Updated: 8/5/2026