Strategic Acquisition of eSelf.ai Enhances Kaltura's AI Innovation and Growth PotentialWe met with CEO Ron Yekutiel and CFO at our Conference, where management demonstrated the early capabilities of recently acquired eSelf.ai's product set and expectations for growth in F26. We come away impressed by eSelf.ai's AI avatars, which represent one of the few AI Avatar products that is investable in the public markets today, and view the addition of the start-up's engineers as a key new component of its AI innovation strategy. Although it's early days, if KLTR is successful in winning new business with its newly expanded product set, it could be a significant accelerator to top-line growth. We reiterate our Buy rating and maintain our Price Target of $3.