Kaltura Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Kaltura Inc. has submitted its 2023 annual report on Form 10-K, detailing its financial performance and business operations.</b>

AI Summary

KALTURA INC (KLTR) filed a Annual Report (10-K) with the SEC on February 22, 2024. Kaltura Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 250 Park Avenue South, 10th Floor, New York, NY 10003. Kaltura Inc. is classified under SIC code 7372 for Services-Prepackaged Software. The filing was made on February 22, 2024.

Why It Matters

For investors and stakeholders tracking KALTURA INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Kaltura's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors and stakeholders to assess the company's performance and future outlook. The detailed financial statements and disclosures within the 10-K allow for a year-over-year comparison, enabling analysis of trends in revenue, expenses, and profitability, particularly in its subscription and professional services segments.

Risk Assessment

Risk Level: medium — KALTURA INC shows moderate risk based on this filing. The company's financial performance and future prospects are subject to market competition and evolving technological landscapes, as indicated by its classification in the prepackaged software industry.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Kaltura's performance and strategic positioning in the software market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-22 — Filing Date (Date of submission)
• 7372 — SIC Code (Industry classification)

Key Players & Entities

• KALTURA INC (company) — Filer name
• 250 PARK AVENUE SOUTH (location) — Business address
• New York (location) — Business address city
• 10003 (location) — Business address zip
• 7372 (industry_code) — Standard Industrial Classification
• 20231231 (date) — Fiscal year end
• 20240222 (date) — Filing date

FAQ

Industry Context

Kaltura Inc. operates in the prepackaged software industry, providing video solutions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose financial and operational information.

What Investors Should Do

1. Analyze Kaltura's revenue streams from subscription and professional services for FY2023.
2. Review any disclosed risk factors related to market competition or technological changes.
3. Compare key financial metrics from the 2023 10-K with previous years' filings.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-22: Filing Date — Date Kaltura Inc. submitted its 10-K report.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.0001 — ange on which registered Common stock, $0.0001 par value per share KLTR The Nasdaq S
• $0 — he registrant's common stock, par value $0.0001, outstanding as of February 14, 20

Filing Documents

• kltr-20231231.htm (10-K) — 2505KB
• exhibit1020ronyekutiel-202.htm (EX-10.20) — 34KB
• exhibit1021ronyekutiel-202.htm (EX-10.21) — 24KB
• exhibit1022ronyekutiel-202.htm (EX-10.22) — 24KB
• exhibit1024yarongarmazi-ka.htm (EX-10.24) — 23KB
• exhibit1025michaltsuremplo.htm (EX-10.25) — 37KB
• exhibit1026michaltsur-kalt.htm (EX-10.26) — 23KB
• exhibit1027eynavazaria_emp.htm (EX-10.27) — 213KB
• exhibit1028natanisraeli_em.htm (EX-10.28) — 195KB
• exhibit231eyconsent1.htm (EX-23.1) — 3KB
• exhibit311ceo1.htm (EX-31.1) — 13KB
• exhibit312cfo1.htm (EX-31.2) — 10KB
• exhibit321ceo1.htm (EX-32.1) — 5KB
• exhibit322cfo1.htm (EX-32.2) — 5KB
• exhibit971kaltura-clawback.htm (EX-97.1) — 63KB
• image_1.jpg (GRAPHIC) — 7KB
• image_1a.jpg (GRAPHIC) — 7KB
• kltr-20231231_g1.jpg (GRAPHIC) — 45KB
• kltr-20231231_g2.jpg (GRAPHIC) — 43KB
• 0001432133-24-000088.txt (&nbsp;) — 11545KB
• kltr-20231231.xsd (EX-101.SCH) — 54KB
• kltr-20231231_cal.xml (EX-101.CAL) — 114KB
• kltr-20231231_def.xml (EX-101.DEF) — 240KB
• kltr-20231231_lab.xml (EX-101.LAB) — 772KB
• kltr-20231231_pre.xml (EX-101.PRE) — 520KB
• kltr-20231231_htm.xml (XML) — 1666KB

Risk Factors

Item 1A. Risk Factors 15

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 61 Item 1C. C ybersecurity 61

Properties

Item 2. Properties 62

Legal Proceedings

Item 3. Legal Proceedings 62

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 62 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 63

[Reserved]

Item 6. [Reserved] 64

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 64

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 82

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 1

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 125

Controls and Procedures

Item 9A. Controls and Procedures 125

Other Information

Item 9B. Other Information 125

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 125 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 127

Executive Compensation

Item 11. Executive Compensation 129

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 129

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 129

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 129 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 131

Form 10-K Summary

Item 16. Form 10-K Summary 134 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Annual Report on Form 10-K may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions or terminology. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements regarding our future results of operations and financial position, industry and business trends, projections of demand, growth prospects, product development, competitive pressure, cost savings, stock-based compensation, revenue recognition, business strategy, plans and market growth, the economic climate and its impact on us, and other financial and market matters. The forward-looking statements in this Annual Report on Form 10-K are only predictions. We have based these forward-looking statements largely on our current assumptions, expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, inclu

Business

Item 1. Business. Overview Our mission is to power any video experience, for any organization. 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. The COVID-19 pandemic accelerated the use and adoption of video, while creating a long-lasting remote operation culture across all sectors. Moreover, generative AI enables real-time, automatic production of highly personalized and contextually-relevant content, including video and rich media, that we believe would materially boost the creation, consumption, and business impact of video experiences. With the expected growth in rich content in organizations, the potential need for content management solutions and advanced digital experiences is expected to grow. Kaltura's Video Experience Cloud includes products that power digital experiences such as virtual and hybrid events, webinars, online learning, and content portals for large enterprises and small and medium enterprises (SMEs), across all industries, including technology, financial services, healthcare and pharma, IT & professional services, retail and manufacturing. In 2023, we broadened our suite of offerings for marketers, successfully attracting new clients and stakeholders across Marketing Technology (MarTech), Field Marketing, and Chief Marketing Officer (CMO) groups. Our platform also includes industry-specific solutions, currently for the Education and Media and Telecom industries. For developers, it includes an extensive array of Application Programming Interfaces (APIs) and developer tools that enable them to build other media workflows, integrations, and industry solutions. Kaltura has long been recognized by top industry analysts as a leader in the Enterprise Video Conten

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View this 10-K filing on SEC EDGAR