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Jun 30, 2023
Kaltura Q2 2023 Earnings Report
Announced financial results, showing progress towards profitable growth with record subscription revenue and the highest total revenue growth rate since Q1 2022.
Key Takeaways
Kaltura reported a 5% increase in revenue compared to the second quarter of 2022. Subscription revenue increased by 7%. The company posted its lowest Adjusted EBITDA loss in eight quarters and reaffirmed plans to achieve a positive Adjusted EBITDA in 2024.
Revenue for the second quarter of 2023 was $43.9 million, an increase of 5% compared to $42.0 million for the second quarter of 2022.
Subscription revenue for the second quarter of 2023 was $40.7 million, an increase of 7% compared to $38.0 million for the second quarter of 2022.
GAAP Operating loss was $9.6 million for the second quarter of 2023, compared to an operating loss of $15.5 million for the second quarter of 2022.
Adjusted EBITDA was negative $1.0 million for the second quarter of 2023, compared to negative adjusted EBITDA of $8.5 million for the second quarter of 2022.
Revenue by Segment
Forward Guidance
For the third quarter of 2023, Kaltura expects subscription revenue to grow by 5%-7% year-over-year to between $39.8 million and $40.6 million, and total revenue to grow by 4%-6% year-over-year to between $42.7 million and $43.5 million. Adjusted EBITDA is expected to be negative in the range of $0.5 million to $1.0 million. For the full year ending December 31, 2023, Kaltura expects subscription revenue to grow by 5%-6% year-over-year to between $159.6 million and $161.7 million, and total revenue to grow by 1%-2% year-over-year to between $170.0 million and $173.0 million. Adjusted EBITDA is expected to be negative in the range of $4.5 million to $5.5 million.
Positive Outlook
- Subscription Revenue to grow by 5%-7% year-over-year to between $39.8 million and $40.6 million (Q3 2023).
- Total Revenue to grow by 4%-6% year-over-year to between $42.7 million and $43.5 million (Q3 2023).
- Adjusted EBITDA to be negative in the range of $0.5 million to $1.0 million (Q3 2023).
- Subscription Revenue to grow by 5%-6% year-over-year to between $159.6 million and $161.7 million (FY 2023).
- Total Revenue to grow by 1%-2% year-over-year to between $170.0 million and $173.0 million (FY 2023).
Challenges Ahead
- Adjusted EBITDA to be negative in the range of $0.5 million to $1.0 million (Q3 2023).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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