Kaltura (KLTR) AI Stock Analysis

• Market Cap: $262.64M
• Dividend Yield: N/A
• Average Volume (3M): 1.44M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.16
• Revenue Growth: 1.88%
• EPS Growth: 53.31%
• Country: US
• Employees: 563
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 0.01
• Shares Outstanding: 156,334,150
• 10 Day Avg. Volume: 381,525
• 30 Day Avg. Volume: 1,439,377
• PEG Ratio: 0.27
• Price to Book (P/B): 13.34
• Price to Sales (P/S): 1.82
• P/FCF Ratio: 27.79
• Enterprise Value/Market Cap: 0.74
• Enterprise Value/Revenue: 1.08
• Enterprise Value/Gross Profit: 1.54
• Enterprise Value/Ebitda: -44.95
• 1Y Price Target: $3.50
• Price Target Upside: 107.10% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.05
• Revenue Forecast (FY): $180.62M

• Rating: 54 Neutral
• Price Target: $1.50 ▼(-11.24% Downside)

Kaltura's overall stock score reflects a mix of challenges and opportunities. The most significant factor is its financial performance, which is hindered by declining revenue and profitability issues. Technical analysis and valuation also present concerns, with mixed signals and a negative P/E ratio. However, the earnings call provided a positive outlook with strategic acquisitions and share repurchases, suggesting potential for future growth.

Positive Factors

Strategic Acquisitions

The acquisition of E-Self.AI enhances Kaltura's AI capabilities, strengthening its market position and operational capabilities, which supports long-term growth.

Cash Flow Generation

Strong cash flow from operations indicates effective cash generation, providing financial flexibility to invest in growth opportunities and manage debt.

AI Integration

Integrating GenAI technology positions Kaltura to enhance its product offerings, potentially increasing customer engagement and driving future revenue growth.

Negative Factors

Declining Revenue

A declining revenue trend poses a challenge to Kaltura's financial health, potentially impacting its ability to invest in growth and maintain profitability.

Leadership Changes

The CFO's resignation could disrupt financial strategy and execution, potentially affecting investor confidence and strategic continuity until a successor is appointed.

Flat Subscription Revenue

Flat subscription revenue indicates challenges in expanding the customer base or upselling, which could limit future revenue growth and profitability.

Kaltura Business Overview & Revenue Model

Company Description

Kaltura (KLTR) is a leading provider of video technology solutions, specializing in video hosting, streaming, and management services across various sectors including education, media, and enterprises. The company offers a comprehensive platform that enables organizations to create, manage, and distribute video content efficiently, leveraging its cloud-based infrastructure to facilitate live and on-demand video experiences. Kaltura's core products include video hosting services, video conferencing solutions, and tools for video monetization, catering to the diverse needs of its clients in an increasingly digital world.

How the Company Makes Money

Kaltura generates revenue primarily through a subscription-based model, which allows customers to access its video technology solutions on a recurring basis. The company offers various pricing tiers based on usage, features, and customer needs, which include monthly or annual subscriptions for its platform services. Key revenue streams include licensing fees from its video platform, transaction fees from video monetization services, and professional services such as implementation and customer support. Additionally, Kaltura has formed strategic partnerships with educational institutions, media companies, and corporate enterprises, which contribute to its earnings through long-term contracts and collaborative projects.

Kaltura Financial Statement Overview

Summary

Kaltura faces challenges in profitability and revenue growth, with a declining revenue trend and negative net profit margins. However, the balance sheet shows improving leverage, and cash flow generation is positive, though sustainability is a concern.

Income Statement

Kaltura's income statement shows a declining revenue trend with a negative revenue growth rate of -23.7% in the TTM period. Despite a relatively strong gross profit margin of 69.4%, the company struggles with profitability, evidenced by negative net profit and EBIT margins. The consistent negative net income indicates ongoing challenges in achieving profitability.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio of 0.42 in the TTM period, indicating manageable leverage compared to previous years. However, the return on equity remains negative, suggesting inefficiencies in generating returns from equity. The equity ratio is not provided, but the overall financial stability appears to be improving slightly.

Cash Flow

Kaltura's cash flow statement shows a positive operating cash flow in the TTM period, with a strong free cash flow to net income ratio of 0.96. However, the free cash flow growth rate is negative, indicating potential challenges in sustaining cash flow improvements. The operating cash flow to net income ratio suggests some alignment between cash generation and reported earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	180.92M	178.72M	175.17M	168.81M	165.02M	120.44M
Gross Profit	126.96M	119.11M	112.23M	106.94M	102.70M	72.78M
EBITDA	-4.34M	-15.92M	-29.56M	-55.62M	-46.44M	3.28M
Net Income	-12.85M	-31.32M	-46.37M	-68.50M	-59.35M	-58.76M
Balance Sheet
Total Assets	172.62M	181.31M	183.74M	206.17M	223.29M	90.95M
Cash, Cash Equivalents and Short-Term Investments	75.71M	81.33M	69.38M	85.97M	143.95M	27.71M
Total Debt	47.77M	52.53M	54.83M	58.85M	38.74M	50.04M
Total Liabilities	154.89M	156.92M	153.42M	162.82M	138.02M	191.50M
Stockholders Equity	17.73M	24.39M	30.32M	43.35M	85.27M	-100.54M
Cash Flow
Free Cash Flow	14.57M	11.71M	-12.40M	-52.80M	-28.11M	2.67M
Operating Cash Flow	15.21M	12.23M	-8.30M	-46.83M	-22.11M	5.80M
Investing Cash Flow	642.00K	-12.41M	-1.58M	-49.76M	-5.24M	-2.75M
Financing Cash Flow	-11.52M	-3.53M	109.00K	-529.00K	143.37M	-1.85M

Kaltura Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.69
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KLTR, the sentiment is Positive. The current price of 1.69 is above the 20-day moving average (MA) of 1.60, above the 50-day MA of 1.58, and below the 200-day MA of 1.79, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 55.13 is Neutral, neither overbought nor oversold. The STOCH value of 54.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KLTR.

Kaltura Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ATEN	79 Outperform	$1.29B	26.32	23.88%	1.32%	10.27%	3.52%
VRNT	64 Neutral	―	―	4.72%	―	-2.32%	7.70%
DBX	62 Neutral	$7.18B	16.15	―	―	-0.44%	2.47%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TENB	61 Neutral	$2.96B	-88.49	-8.95%	―	11.05%	45.23%
BASE	60 Neutral	―	―	―	―	10.98%	11.62%
KLTR	54 Neutral	$262.64M	-14.25	-86.46%	―	1.88%	53.31%

Kaltura Corporate Events

Kaltura Appoints Interim Financial and Accounting Officers

On September 30, 2025, Kaltura, Inc. announced the resignation of its Chief Financial Officer, John Doherty, effective December 5, 2025. Following his departure, the company appointed Liron Sharon as interim Principal Financial Officer and Claire Rotshten as interim Principal Accounting Officer, effective December 6, 2025. Both executives bring over 20 years of experience in financial leadership roles within the technology sector. Kaltura is currently conducting a search for a permanent CFO.

Kaltura Completes Acquisition of E-Self.AI Ltd.

On December 1, 2025, Kaltura, Inc. completed its acquisition of E-Self.AI Ltd., a move that involved a cash consideration of up to $20 million and equity consideration of up to 4,690,025 shares of Kaltura’s common stock. This acquisition is expected to enhance Kaltura’s operational capabilities and strengthen its market position, with the purchase price structured around performance milestones and retention provisions for key employees.

Kaltura Acquires E-Self.AI to Boost AI Offerings

On November 10, 2025, Kaltura announced its acquisition of E-Self.AI Ltd., an AI-based real-time conversational avatar provider, as part of its strategic move to enhance its AI capabilities and expand its offerings in immersive virtual agents. This acquisition is expected to close in the fourth quarter of 2025. Additionally, Kaltura repurchased 14.4 million shares of its common stock from Goldman Sachs, reducing outstanding shares and strengthening its financial position. The company reported financial results for the third quarter of 2025, with a slight decrease in revenue but improved profitability metrics, including a record adjusted EBITDA profit. Kaltura continues to project growth in new bookings, supported by customer consolidation and new AI-powered offerings.

Kaltura CFO Resignation Announced on October 6, 2025

On October 6, 2025, Kaltura announced the resignation of its Chief Financial Officer, John Doherty, effective December 5, 2025, as he transitions to a role in the medical technology industry. The company has engaged an external firm to find his successor and Doherty will remain as an advisor until March 2026 to ensure a smooth transition. Kaltura reaffirmed its financial guidance for the third quarter and expressed confidence in its strategic direction and ability to deliver long-term shareholder value.