Kaltura Inc (NAS:KLTR)

Q2 2026 Kaltura Inc Earnings Call Transcript

Aug 5, 2026 / 12:00 PM GMT

Release Date Price: $1.89 (+35.00%)

Transcript 10-Q

Key Points

Positve

Kaltura Inc (KLTR) exceeded the high end of its guidance for both revenue and adjusted EBITDA in Q2 2026, with total revenue of $46.9 million (up 5% YoY) and adjusted EBITDA of $5.9 million (up 44% YoY).
The company achieved a record non-GAAP gross margin of 75% and a record non-GAAP subscription gross margin of 79%, reflecting improved operational efficiencies and a favorable mix shift.
Kaltura Inc (KLTR) signed a record 14 new deals including AI offerings, doubling its previous record, with 9 deals involving its new agentic avatars product and 8 deals with new logos across diverse industries.
The AI-related sales pipeline has grown to over 500 opportunities, representing approximately $17 million in non-weighted potential annual contract value (ACV), with a third coming from new logos.
The company delivered its strongest gross retention performance since Q4 2022, and raised its full-year 2026 guidance for subscription revenue, total revenue, and adjusted EBITDA.
Kaltura Inc (KLTR) is positioning itself in two large market opportunities—agentic revenue engagement and agentic learning and enablement—each estimated at over $20 billion, with a clear product roadmap for the second half of 2026.

Negative

Kaltura Inc (KLTR)'s M&T (Media & Telecom) segment continued to decline, with total revenue down 10% YoY and subscription revenue down 6% YoY, reflecting elevated churn from 2025.
Professional services revenue declined significantly, down 40% YoY overall, which the company attributes to its strategic focus on recurring subscription revenue but still impacts total revenue growth.
Net dollar retention (NDR) remained weak at 96%, down from 101% in the same quarter last year, indicating ongoing challenges with customer expansion and upselling.
The company expects near-term pressure on retention from legacy contracts, including an anticipated roll-off of certain Path Factory customers, which could weigh on future results.
Revenue contribution from the 14 new AI deals remains limited, with a combined total contract value of approximately $1 million, and the company expects only a modest ramp in the second half of 2026 with a more meaningful impact in 2027.
Kaltura Inc (KLTR) experienced FX headwinds of approximately $1 million in the quarter, and the company's cash flow from operations was negative at $2 million, a decline from positive cash flow in Q2 2025.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

KLTR.OQ - Kaltura Inc
Q2 2026 Kaltura Inc Earnings Call
Aug 05, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone, and welcome to the Caltura second quarter 2026 earnings call, all material contained in the webcast is the sole property and copyright of Peltura with all rights reserved for opening remarks and introductions, I will now turn the call over to, go ahead, Erika.

Thank you, operator, and good morning.

I'm joined by Ron Yucel, Calorre's co-founder, Chairman, President, and Chief Executive Officer, and Laron Sharon, Executive Vice President of FP&A and interim principal Financial Officer.

I will begin with a summary of the results for the second quarter end of June 30th, 2026 and provide business update.

Laon will then review the financial results for the second quarter of 2026 in greater

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