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Kaltura (KLTR) investor relations material
Kaltura Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Q3 2025 total revenue was $43.9M, down 1% year-over-year but above guidance, with subscription revenue at $42M; adjusted EBITDA reached a record $4.2M, marking the ninth consecutive profitable quarter on this metric.
Net loss for Q3 2025 was $2.6M ($0.02/share), a 27% improvement from Q3 2024; non-GAAP net profit was $2M ($0.01/share).
Announced a definitive agreement to acquire ESOF.ai/eSelf.ai, a GenAI lab, for up to $27M, to accelerate immersive AI agent offerings and content creation tools, expected to close in Q4.
Repurchased 14.4M shares (9.2% of outstanding) from Goldman Sachs at a 25% discount for $16.6M, resulting in a 6.2% anti-dilutive effect post-ESOF deal.
Reorganization in August 2025 reduced workforce by 10%, targeting $8.5M in annualized cost savings with a $0.8M one-time charge.
Financial highlights
Q3 total revenue was $43.9M; subscription revenue $42M; professional services revenue $1.9M.
GAAP gross profit was $30.7M (70% margin), up 4% year-over-year; gross margin improved from 67% YoY.
Adjusted EBITDA was $4.2M, up from $2.4M in Q3 2024; non-GAAP operating profit was $3.1M.
Cash and cash equivalents at September 30, 2025 were $41.5M; ended Q3 with $84.1M in cash and marketable securities.
Net cash from operating activities was $9.3M in Q3 2025.
Outlook and guidance
Q4 2025 total revenue guidance: $45M–$45.7M; subscription revenue: $41.6M–$42.3M; adjusted EBITDA: $4.2M–$5.2M.
Full-year 2025 total revenue guidance: $180.3M–$181M; subscription revenue: $170.9M–$171.6M; adjusted EBITDA: $16.6M–$17.6M.
Management expects continued gross margin improvement and stable operating expenses as a percentage of revenue.
Forecasts another quarter of positive operating cash flow and record adjusted EBITDA in Q4.
Targeting double-digit revenue growth and a rule of 30 (revenue growth + adjusted EBITDA margin) by 2028 or sooner.
eSelf incremental revenue recognition timeline
Future capital allocation for shareholder value
Tangible signs of AI increasing video content
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Kaltura, Inc. is an online video platform (OVP) with a cloud-based, open source platform. Kaltura Inc provides a range of products, solutions, and services for businesses and organizations and enables people to discover, create, distribute and monetize amazing media experiences.
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