Kaltura Reports $178.7 Million Revenue and $31.3 Million Net Loss for Fiscal Year 2024

Kaltura, Inc. reported total revenue of $178.7 million for the fiscal year ended December 31, 2024, a 2% increase compared to the $175.2 million reported in 2023. The company's net loss for 2024 was $31.3 million, a 32% decrease from the $46.4 million net loss in 2023. Gross profit increased by 6% year-over-year to $119.1 million, driven by a 6% increase in gross profit from the Enterprise, Education, and Technology (EE&T) segment and an 8% increase from the Media and Telecom (M&T) segment. The company's Annualized Recurring Revenue (ARR) grew by 6% to $173.9 million in 2024.

Significant changes compared to the previous fiscal year include a decrease in cost of revenue by 5% to $59.6 million, primarily due to improved efficiency. Operating expenses decreased by 5% to $143.2 million, reflecting reductions in research and development, sales and marketing, and general and administrative expenses. The Net Dollar Retention Rate was 100% in 2024, compared to 101% in 2023 (after a 1 percentage point adjustment to reflect an updated customer count methodology). The company's customer base included approximately 850 customers as of December 31, 2024, with 290 customers having an annualized recurring revenue (ARR) greater than $100,000 and 30 customers with ARR greater than $1 million.

Strategic developments during the year included the launch of several new Gen AI-powered capabilities, although these did not yet contribute materially to revenue. The company also continued to expand its customer base and increase revenue from existing customers through upselling and cross-selling. Kaltura highlighted its "land and expand" strategy, aiming to increase usage and purchases from existing customers over time. The company also noted its focus on expanding its product offerings and penetrating new markets, including through partnerships and potential mergers and acquisitions.

Key operational developments included geographic expansion, with approximately 53% of revenue generated from customers in the Americas, 38% from EMEA, and 9% from APAC in 2024. The company's technology reached end-users in over 200 countries. Kaltura received several industry awards and recognitions in 2024, including the Digiday Technology Award for Best Video Management Platform and multiple "Leader" recognitions from G2. The company also highlighted its recognition in various Gartner reports. As of December 31, 2024, Kaltura employed 563 people across 24 countries.

Kaltura's outlook is positive, with the company expecting continued growth driven by increasing demand for video solutions and the integration of Gen AI capabilities. The company anticipates strengthening existing customer relationships, attracting new customers, and expanding its product portfolio. However, the filing also includes numerous risk factors, including economic uncertainty, competition, and the challenges associated with international operations and the adoption of new technologies. The company acknowledges the inherent uncertainties in forecasting future results and cautions against undue reliance on forward-looking statements.