Kaltura's earnings call demonstrated strong revenue growth, improved profitability, and significant advancements in AI product development, which generated interest among a substantial portion of its customer base. However, the company faced typical seasonal declines in new subscription bookings and M&T segment churn, which impacted its gross retention. Despite these lowlights, the overall performance and future outlook remain positive.

Company Guidance -

Q3 2025

During Kaltura's first quarter 2025 earnings call, the company reported a record total revenue of $47 million, marking a 5% year-over-year increase, with subscription revenue reaching $44.9 million, up 9% year-over-year. The company achieved a record ARR with a 7% increase year-over-year and a 12% year-over-year growth in RPO. The adjusted EBITDA for the quarter was a record $4.1 million, reflecting the seventh consecutive quarter of adjusted EBITDA profitability. Kaltura also noted a strong non-GAAP gross margin of 70%, up from 65% the previous year. While the company consumed $1 million in cash for operations, consistent with last year's first quarter, it maintained its cash flow forecast for the full year. The net dollar retention rate climbed to 107%, the highest since the first quarter of 2022, despite an expected temporary decline in M&T churn. Kaltura continues to invest in AI, enhancing its Genie agents and expanding its Content Lab offerings, with more than 150 customers showing interest in their AI beta program. The company also increased its adjusted EBITDA guidance for the year, aiming for double-digit revenue growth and a Rule of 30 by 2028.

Record-Breaking Revenue and Subscription Growth

Total revenue for Q1 2025 was $47 million, up 5% year-over-year, with record subscription revenue of $44.9 million, up 9% year-over-year.

Strong Adjusted EBITDA and Gross Margin

Adjusted EBITDA reached a record $4.1 million, marking the seventh consecutive quarter of profitability. Non-GAAP gross margin increased to 70%, up from 65% the previous year.

AI Product Development and Adoption

Kaltura's AI products, including Genie agents and the Content Lab offerings, have sparked interest from over 150 customers, constituting roughly 20% of Kaltura's customer base.

Growing ARR and Net Dollar Retention

Annualized recurring revenue reached $174.8 million, up 7% year-over-year. Net dollar retention climbed to 107%, the highest level since Q1 2022.

Industry Recognition and Awards

Kaltura received the Product of the Year Award for streaming at the 2025 NAB Show for its TV Genie, and was recognized by Gartner as a representative vendor in their market guide.

Kaltura (KLTR) Earnings, Revenues Date & History

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KLTR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	<0.01 / -	0.01	―	―	―
Aug 07, 2025	2025 (Q2)	>-0.01 / 0.01	-0.01	200.00% (+0.02)	―
May 08, 2025	2025 (Q1)	>-0.01 / 0.02	-0.03	166.67% (+0.05)	―
Feb 20, 2025	2024 (Q4)	>-0.01 / -0.01	-0.03	66.67% (+0.02)	―
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)	―

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

KLTR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 08, 2025	$2.20	$2.18	-0.91%
Feb 20, 2025	$2.50	$2.45	-2.00%
Nov 06, 2024	$1.42	$1.73	+21.83%
Aug 08, 2024	$1.15	$1.22	+6.09%

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.