A Business at a Glance
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We, Kaltura, Inc. (“Kaltura,” “we,” “us,” or “our”), are a market-leading provider of live, real-time, and on-demand video offerings for enterprises, with a mission to create and power AI-infused hyper-personalized video experiences that boost customer and employee engagement and success. Video is everywhere. It has become a driving force for online interactions and engagement, and has revolutionized how we communicate, work, learn, and entertain. For businesses, video sits at the heart of digital transformation, with organizations increasingly embracing video solutions to better engage with customers and employees. Moreover, the recent rise of generative AI enables real-time, automatic production of highly personalized and contextually relevant content, including video and rich media, which we believe would materially boost the creation, consumption, and business impact of video experiences.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 181M | 179M | 175M | 169M | 165M | 120M |
| Net Income | -18M | -31M | -46M | -68M | -68M | -71M |
| EPS | $-0.31 | $-0.21 | $-0.34 | $-0.53 | $-0.95 | $2.83 |
| Free Cash Flow | 15M | 12M | -11M | -48M | -24M | 4.7M |
| ROIC | -4.4% | -58.5% | -73.2% | -93.4% | -55.8% | -9.3% |
| Gross Margin | 70.2% | 66.6% | 64.1% | 63.3% | 62.2% | 60.4% |
| Debt/Equity | 2.00 | 1.45 | 1.20 | 0.96 | 0.49 | -0.19 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -9.6M | -24M | -39M | -56M | -33M | -8.5M |
| Operating Margin | -5.3% | -13.5% | -22.1% | -33.4% | -19.8% | -7.0% |
| ROE | -102.1% | -114.5% | -152.9% | -158.0% | -79.3% | - |
| Shares Outstanding | 156M | 149M | 136M | 129M | 71M | 127M |
| Metric | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 120M | 165M | 169M | 175M | 179M | 181M |
| Gross Margin | 60.4% | 62.2% | 63.3% | 64.1% | 66.6% | 70.2% |
| R&D | 30M | 48M | 57M | 52M | 49M | 48M |
| SG&A | 22M | 39M | 45M | 49M | 46M | 41M |
| EBIT | -8.5M | -33M | -56M | -39M | -24M | -9.6M |
| Op. Margin | -7.0% | -19.8% | -33.4% | -22.1% | -13.5% | -5.3% |
| Net Income | -71M | -68M | -68M | -46M | -31M | -18M |
| Net Margin | -58.7% | -41.0% | -40.6% | -26.5% | -17.5% | -10.0% |
| Non-Recurring | 0 | 0 | 1.2M | 973K | 0 | 804K |
| Returns on Capital | ||||||
| ROIC | -9.3% | -55.8% | -93.4% | -73.2% | -58.5% | -4.4% |
| ROE | N/A | -79.3% | -158.0% | -152.9% | -114.5% | -102.1% |
| ROA | -77.7% | -30.3% | -33.2% | -25.2% | -17.2% | -10.5% |
| Cash Flow | ||||||
| Op. Cash Flow | 5.8M | -22M | -47M | -8.3M | 12M | 15M |
| Free Cash Flow | 4.7M | -24M | -48M | -11M | 12M | 15M |
| Owner Earnings | -7.0M | -42M | -73M | -43M | -19M | -7.3M |
| CapEx | 1.1M | 1.9M | 1.2M | 2.6M | 521K | 634K |
| Maint. CapEx | 7.7M | 2.4M | 2.7M | 4.7M | 5.1M | 4.6M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 7.7M | 2.4M | 2.7M | 4.7M | 5.1M | 4.6M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 4.3% | 4.2% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 2.9M | 10M |
| Buyback Yield | N/A | N/A | N/A | N/A | 0.8% | 6.0% |
| Stock-Based Comp | 5.1M | 17M | 24M | 30M | 26M | 18M |
| Debt Repayment | 1.7M | 52M | 3.0M | 4.5M | 2.2M | 2.6M |
| Balance Sheet | ||||||
| Net Debt | -6.3M | -103M | -44M | -33M | -46M | -37M |
| Cash & Equiv. | 28M | 144M | 45M | 37M | 33M | 72M |
| Long-Term Debt | 47M | 36M | 30M | 33M | 29M | 25M |
| Debt/Equity | -0.19 | 0.49 | 0.96 | 1.20 | 1.45 | 2.00 |
| Interest Coverage | -2.2 | -16.8 | -24.5 | -13.1 | -9.0 | -9.0 |
| Equity | -261M | 85M | 43M | 30M | 24M | 18M |
| Total Assets | 91M | 223M | 206M | 184M | 181M | 173M |
| Total Liabilities | 352M | 138M | 163M | 153M | 157M | 155M |
| Intangibles | 14M | 13M | 12M | 12M | 11M | 11M |
| Retained Earnings | -263M | -323M | -391M | -437M | -469M | -480M |
| Working Capital | -30M | 78M | 24M | 12M | 20M | 12M |
| Current Assets | 53M | 176M | 133M | 112M | 122M | 112M |
| Current Liabilities | 83M | 98M | 109M | 100M | 102M | 101M |
| Per Share Data | ||||||
| EPS | 2.83 | -0.95 | -0.53 | -0.34 | -0.21 | -0.31 |
| Owner EPS | -0.05 | -0.58 | -0.57 | -0.32 | -0.13 | -0.05 |
| Book Value | -2.05 | 1.20 | 0.34 | 0.22 | 0.16 | 0.11 |
| Cash Flow/Share | 0.05 | -0.31 | -0.36 | -0.06 | 0.08 | -0.09 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 127.1M | 71.1M | 129.2M | 136.4M | 149.1M | 156.3M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -3.5 |
| P/FCF | N/A | N/A | N/A | N/A | 28.4 | 11.7 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 5.9 | 5.6 | 10.1 | 14.1 | 9.6 |
| Price/Sales | N/A | 7.4 | 1.8 | 1.7 | 1.2 | 0.9 |
| FCF Yield | N/A | -4.8% | -20.0% | -3.6% | 3.4% | 8.6% |
| Market Cap | N/A | 500M | 241M | 305M | 344M | 170M |
| Avg. Price | N/A | 9.07 | 2.17 | 1.89 | 1.45 | 1.09 |
| Year-End Price | N/A | 3.71 | 1.68 | 1.98 | 2.23 | 1.09 |
KALTURA INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 11.7x vs a median of 28.4x. The company's 5-year average gross margin is 63.3%. Total shareholder yield (buybacks) is 6.0%. At current prices, the estimated annualized return to fair value is +41.8%.
KALTURA INC (KLTR) has a 5-year average return on invested capital (ROIC) of -58.0%. This is below average and may indicate limited pricing power.
KALTURA INC (KLTR) has a market capitalization of $170M. It is classified as a small-cap stock.
KALTURA INC (KLTR) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 6.03%.
KALTURA INC (KLTR) operates in the Services-Prepackaged Software industry, within the Technology sector.
KALTURA INC (KLTR) reported annual revenue of $179 million in its most recent fiscal year, based on SEC EDGAR filings.
KALTURA INC (KLTR) has a net profit margin of -17.5%. The company is currently unprofitable.
KALTURA INC (KLTR) generated $12 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
KALTURA INC (KLTR) has a debt-to-equity ratio of 1.45. This indicates moderate leverage.
KALTURA INC (KLTR) reported earnings per share (EPS) of $-0.21 in its most recent fiscal year.
KALTURA INC (KLTR) has a return on equity (ROE) of -114.5%. A negative ROE may indicate losses or negative equity.
KALTURA INC (KLTR) has a 5-year average gross margin of 63.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 5 years of financial data for KALTURA INC (KLTR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
KALTURA INC (KLTR) has a book value per share of $0.16, based on its most recent annual SEC filing.