Kaltura announced financial results for Q3 2023, showing a 6% increase in revenue compared to Q3 2022. The company achieved adjusted EBITDA profits for the first time since 2020 and positive cash flow from operations. They are slightly raising their revenue and adjusted EBITDA guidance for the full year, and reaffirming plans to achieve a positive adjusted EBITDA in 2024.
Revenue for the third quarter of 2023 was $43.5 million, an increase of 6% compared to $41.1 million for the third quarter of 2022.
Subscription revenue for the third quarter of 2023 was $40.8 million, an increase of 8% compared to $37.9 million for the third quarter of 2022.
Adjusted EBITDA was $0.3 million for the third quarter of 2023, compared to adjusted EBITDA of $(7.2) million for the third quarter of 2022.
Net Cash Provided by Operating Activities was $1.7 million for the third quarter of 2023, compared to $1.1 million for the third quarter of 2022.
For the fourth quarter of 2023, Kaltura currently expects: Subscription Revenue to grow by negative 3% to positive 1% year-over-year to between $38.4 million and $39.8 million. Total Revenue to decrease by 7% to 4% year-over-year to between $40.8 million and $42.3 million. Adjusted EBITDA to be negative in the range of $1.1 million to $0.6 million.
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