Business
Kaltura Announces Financial Results for Fourth Quarter and Full Year 2022
NEW YORK, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Kaltura, Inc. (“Kaltura” or the “Company”), the video experience cloud, today announced financial results for the
About this update from Kaltura, Inc.
[{"type":"text","content":"NEW YORK, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Kaltura, Inc. (“Kaltura” or the “Company”), the video experience cloud, today announced financial results for the fourth quarter and full year ended December 31, 2022, as well as outlook for first quarter and full year 2023. \"In the fourth quarter, we returned to growth and recognized record subscription and total revenues while reiterating our commitment to continued improvements in Adjusted EBITDA and Cash-Flow-From-Operations to achieve break even in 2024,\" said Ron Yekutiel, Co-founder, Chairman and Chief Executive Officer of Kaltura. \"Though we continue to be impacted by the macroeconomic headwinds, we believe we are well positioned to navigate the challenging financial climate given the breadth of our platform and our ability to enable our customers to save costs and reduce complexities by consolidating their fragmented video needs with our single, flexible, tightly integrated and engaging enterprise-grade platform.\" Fourth Quarter 2022 Financial Highlights: Revenue for the fourth quarter of 2022 was $44.1 million, an increase of 3% compared to $42.7 million for the fourth quarter of 2021.Subscription revenue for the fourth quarter of 2022 was $39.6 million, an increase of 3% compared to $38.5 million for the fourth quarter of 2021. Annualized Recurring Revenue (ARR) was $159.2 million, an increase of 6% compared to $150.8 million in 2021. GAAP Gross profit for the fourth quarter of 2022 was $27.6 million, representing a gross margin of 63% compared to a GAAP gross profit of $26.8 million and gross margin of 63% for the fourth quarter of 2021. Non-GAAP Gross profit for the fourth quarter of 2022 was $28.0 million, representing a non-GAAP gross margin of 64%, compared to a non-GAAP gross profit of $27.1 million and non-GAAP gross margin of 63% for the fourth quarter of 2021. GAAP Operating loss was $11.4 million for the fourth quarter of 2022, compared to an operating loss of $12.4 million for the fourth quarter of 2021. Non-GAAP Operating loss was $4.9 million for the fourth quarter of 2022, compared to a non-GAAP operating loss of $8.1 million for the fourth quarter of 2021. GAAP Net loss was $14.8 million or $0.11 per diluted share for the fourth quarter of 2022, compared to a GAAP net loss of $15.9 million, or $0.12 per diluted share, for the fourth quarter of 2021. Non-GA...