Business
Kaltura Announces Financial Results for Second Quarter 2021
NEW YORK, Aug. 18, 2021 (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, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Kaltura, Inc. (“Kaltura” or the “Company”), the video experience cloud, today announced reported financial results for the second quarter ended June 30, 2021, as well as outlook for the third quarter and full year 2021. “The continued acceleration of our year-over-year subscription revenue growth to 46% in the second quarter of 2021 was fueled by our strong and steady sales force productivity and increasing net dollar retention rates,” said Ron Yekutiel, Co-founder, Chairman and Chief Executive Officer of Kaltura. “This is a result of the growing dependence of organizations on video communications and workflows for their internal operations, for engaging customers, and increasingly for powering their core offerings. After years of investment in our platform, products, and solutions with a limited increase in go-to-market spend, we are now excited to build on our broad product and tech foundation and materially expand our sales and marketing efforts and initiatives. We look forward to continuing to build shareholder value as we execute on our mission - to Power any Video Experience, for any Organization!” Second Quarter 2021 Financial Highlights: Revenue for the second quarter of 2021 was $41.6 million, an increase of 45% compared to $28.7 million for the second quarter of 2020.Subscription revenue for the second quarter of 2021 was $36.5 million, an increase of 46% compared to $25.0 million for the second quarter of 2020.Annualized Recurring Revenue (ARR) for the second quarter of 2021 was $145.4 million, an increase of 46% compared to $99.6 million for the second quarter of 2020.Gross profit for the second quarter of 2021 was $26.0 million representing a gross margin of 62% compared to a gross profit of $18.0 million and gross margin of 62% for the second quarter of 2020. Gross profit for the second quarter of 2021 includes the impact of $0.2 million in stock-based compensation expenses and $0.2 million in amortization of acquired intangible assets. Gross profit for the second quarter of 2020 includes the impact of $0.1 million in stock-based compensation expenses and $0.2 million in amortization of acquired intangible assets.Operating loss was $5.8 million for the second quarter of 2021, compared to an income of $1.1 million for the second quarter of 2020. Operating loss for the seco...