Business
Kaltura Announces Financial Results for Fourth Quarter and Full Year 2021
NEW YORK, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Kaltura, Inc. (“Kaltura” or the “Company”), the video experience cloud, today announced reported financial results
About this update from Kaltura, Inc.
[{"type":"text","content":"NEW YORK, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Kaltura, Inc. (“Kaltura” or the “Company”), the video experience cloud, today announced reported financial results for the fourth quarter and full year ended December 31, 2021, as well as outlook for the first quarter and full year 2022. “Video is increasingly at the heart of digital experiences, and so is Kaltura. In the fourth quarter of 2021, we introduced two important product enhancements. We released a new version of our events platform, which builds on our success with powering large flagship virtual events and provides customers with a single platform to create and manage virtual and hybrid events of all types and sizes across their entire organization. We also released newly designed flows for purchasing our self-serve offerings for Webinars, Virtual Classroom, and Media Services directly from our website,” said Ron Yekutiel, Co-founder, Chairman and Chief Executive Officer of Kaltura. “These releases are expected to grow our target customer base, expand the use of products by our customers, shorten our sales and deployment cycles, and increase our gross margins. Along with our earlier product releases in 2020 and 2021, our strong retention rates, and the scaling up of our sales team, we have promising growth engines in place for 2022.” Fourth Quarter 2021 Financial Highlights: Revenue for the fourth quarter of 2021 was $42.7 million, an increase of 21% compared to $35.2 million for the fourth quarter of 2020.Subscription revenue for the fourth quarter of 2021 was $38.5 million, an increase of 33% compared to $29.0 million for the fourth quarter of 2020.Annualized Recurring Revenue (ARR) was $150.8 million, an increase of 29% compared to $116.6 million in 2020.GAAP Gross profit for the fourth quarter of 2021 was $26.8 million, representing a gross margin of 63% compared to a GAAP gross profit of $21.2 million and gross margin of 60% for the fourth quarter of 2020. Non-GAAP Gross profit for the fourth quarter of 2021 was $27.1 million, representing a non-GAAP gross margin of 63%, compared to a non-GAAP gross profit of $21.5 million and non-GAAP gross margin of 61% for the fourth quarter of 2020. GAAP Operating loss was $(12.4) million for the fourth quarter of 2021, compared to an operating loss of $(1.3) million for the fourth quarter of 2020.Non-GAAP Operating income (loss) w...