Kaltura Inc. Files Q3 2024 10-Q Report

TL;DR

Kaltura's Q3 2024 10-Q is in. Check financials.

AI Summary

Kaltura Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Specific financial figures and operational highlights are provided within the report.

Why It Matters

This filing provides investors and analysts with the latest financial health and performance indicators for Kaltura Inc., crucial for understanding the company's trajectory in the pre-packaged software industry.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that can reveal both positive and negative trends, impacting investment decisions.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-11-06 — Filing Date (The date Kaltura Inc. submitted this 10-Q to the SEC.)
• 1231 — Fiscal Year End (Kaltura Inc.'s fiscal year concludes on December 31st.)

Key Players & Entities

• KALTURA INC (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241106 (date) — Date the report was filed
• 250 PARK AVENUE SOUTH (location) — Company's business and mailing address
• 7372 (industry_code) — Standard Industrial Classification for Services-Prepackaged Software

FAQ

Key Financial Figures

• $0.0001 — nge 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 November 1, 202

Filing Documents

• kltr-20240930.htm (10-Q) — 1692KB
• kaltura_311q32024125736099.htm (EX-31.1) — 11KB
• kaltura_312q32024125736098.htm (EX-31.2) — 11KB
• kaltura_321q32024125736097.htm (EX-32.1) — 6KB
• kaltura_322q32024125736100.htm (EX-32.2) — 6KB
• 0001432133-24-000157.txt ( ) — 8477KB
• kltr-20240930.xsd (EX-101.SCH) — 51KB
• kltr-20240930_cal.xml (EX-101.CAL) — 89KB
• kltr-20240930_def.xml (EX-101.DEF) — 192KB
• kltr-20240930_lab.xml (EX-101.LAB) — 678KB
• kltr-20240930_pre.xml (EX-101.PRE) — 467KB
• kltr-20240930_htm.xml (XML) — 1368KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Consolidated Financial Statements (unaudited)

Item 1. Consolidated Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of September 30, 202 4 (unaudited) and December 31, 202 3 (audited) 4 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 202 4 and 202 3 (unaudited) 6 Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 202 4 and 202 3 (unaudited) 7 Condensed Consolidated Statement of Stockholders' Equity for the three and nine months ended September 30, 202 4 and 202 3 (unaudited) 8 Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 202 4 and 202 3 (unaudited) 10 Notes to Condensed Consolidated Interim Financial Statements (unaudited) 12

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 53

Controls and Procedures

Item 4. Controls and Procedures 54

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 55

Risk Factors

Item 1A. Risk Factors 55

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 55

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 55

Other Information

Item 5. Other Information 55

Exhibits

Item 6. Exhibits 57

Signatures

Signatures iii Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q 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 Quarterly Report on Form 10-Q 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. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements regarding our future results of operations and financial position, industry and business trends, stock-based compensation, revenue recognition, business strategy and plans, and market growth. The forward-looking statements in this Quarterly Report on Form 10-Q 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, including, but not limited to the following: We may not be able to successfully assess or mitigate the current volatile economic climate and its direct and indirect impact on our bus

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS KALTURA, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (U.S. dollars in thousands, except share and per share data) (unaudited) September 30, 2024 December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 36,840 $ 36,684 Marketable securities 40,873 32,692 Trade receivables 22,646 23,312 Prepaid expenses and other current assets 7,916 8,410 Deferred contract acquisition and fulfillment costs, current 10,274 10,636 Total current assets 118,549 111,734 LONG-TERM ASSETS: Marketable securities 2,229 5,844 Property and equipment, net 17,062 20,113 Other assets, noncurrent 2,916 3,100 Deferred contract acquisition and fulfillment costs, noncurrent 13,766 17,314 Operating lease right-of-use assets 12,659 13,872 Intangible assets, net 332 689 Goodwill 11,070 11,070 Total noncurrent assets 60,034 72,002 TOTAL ASSETS $ 178,583 $ 183,736 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Current portion of long-term loans $ 2,499 $ 1,612 Trade payables 5,819 3,629 Employees and payroll accruals 12,005 12,651 Accrued expenses and other current liabilities 20,138 17,279 Operating lease liabilities, current 2,448 2,374 Deferred revenue, current 63,214 62,364 Total current liabilities 106,123 99,909 LONG-TERM LIABILITIES: Deferred revenue, noncurrent 78 369 Long-term loans, net of current portion 30,481 33,047 Operating lease liabilities, noncurrent 15,652 17,796 Other liabilities, noncurrent 2,108 2,295 Total long-term liabilities 48,319 53,507 TOTAL LIABILITIES $ 154,442 $ 153,416 The accompanying notes are an integral part of the condensed consolidated financial statements 4 Table of Contents KALTURA, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (U.S. dollars in thousands, except share and per share data) (unaudited) September 30, 2024 December 31, 2023 COMMITMENTS AND CONTINGENCIES (NOTE 8) STOCKHOLDERS' EQUITY: Preferred stock, $ 0.0001

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View this 10-Q filing on SEC EDGAR