Kaltura Announces Financial Results for Second Quarter 2021
Kaltura reported strong financial results for Q2 2021, achieving revenue of $41.6 million, a 45% year-over-year increase. Subscription revenue surged 46% to $36.5 million. Annualized Recurring Revenue (ARR) rose to $145.4 million, up 46%. Despite a gross profit of $26.0 million, Kaltura faced an operating loss of $5.8 million and a net loss of $2.7 million. For Q3 2021, revenue guidance is set between $41.5 million to $42.5 million, with an expected negative adjusted EBITDA of $6.5 million to $4.5 million.
- Revenue increased by 45% to $41.6 million in Q2 2021.
- Subscription revenue grew by 46% to $36.5 million.
- ARR reached $145.4 million, reflecting a 46% increase.
- Operating loss of $5.8 million compared to income of $1.1 million in Q2 2020.
- Net loss of $2.7 million in Q2 2021 versus $11.0 million in Q2 2020.
- Adjusted EBITDA was $(1.0) million compared to $3.3 million in Q2 2020.
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
Second Quarter 2021 Financial Highlights:
- Revenue for the second quarter of 2021 was
$41.6 million , an increase of45% 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 of46% 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 of46% 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 of62% compared to a gross profit of$18.0 million and gross margin of62% 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 second quarter of 2021 includes the impact of$4.2 million in stock-based compensation expenses and$0.3 million in amortization of acquired intangible assets. Operating income for the second quarter of 2020 includes the impact of$1.1 million in stock-based compensation expenses and$0.3 million in amortization of acquired intangible assets. - Net loss was
$2.7 million or$0.37 per diluted share for the second quarter of 2021, compared to a net loss of$11.0 million , or$0.56 per diluted share, for the second quarter of 2020. Net loss for the second quarter of 2021 includes the impact of$4.2 million in stock-based compensation expenses,$0.3 million in amortization of acquired intangible assets, and ($5.9) million in income from remeasurement of warrants to fair value. Net loss for the second quarter of 2020 includes the impact of$1.1 million in stock-based compensation expenses,$0.3 million in amortization of acquired intangible assets, and$10.6 million in expenses from remeasurement of warrants to fair value. - Adjusted EBITDA was
$(1.0) million for the second quarter of 2021, compared to adjusted EBITDA of$3.3 million for the second quarter of 2020. Adjusted EBITDA excludes stock-based compensation expenses, the amortization of acquired intangible assets, depreciation expenses, financial expenses/income and the provision for income taxes. - Net Cash provided by operating activities was
$0.9 million for the second quarter of 2021, compared to$2.8 million provided by operating activities in the second quarter of 2020.
Second Quarter 2021 Business Highlights:
- Another robust quarter of new bookings, sales force productivity, and increasing Net Dollar Retention Rates.
- Strong momentum with selling our Virtual Events product. ‘Kaltura Virtually Live’ will take place on November 9th – a virtual Kaltura-led industry event on the topic of the future of events for marketers, business leaders, and Martech leaders.
- Media & Telecom new bookings accelerated after a flat year in 2020, which was primarily the result of a COVID-19-induced slowdown.
- Continued technology innovation across our live, on-demand, and real-time stacks: rolled out new Kaltura live streaming infrastructure addressing growing scale and viewer concurrency, launched new Simulive capabilities, a new plugin for Zoom users, and new advanced capabilities for ‘breakout rooms’ and polls during real-time conferencing.
- Welcomed new partners to our tech partner marketplace, which currently consists of over 125 companies.
Financial Outlook:
For the third quarter of 2021, Kaltura currently expects:
- Revenue is expected to be in the range of
$41.5 million to$42.5 million - Adjusted EBITDA is expected to be negative in the range of
$6.5 million to$4.5 million
For the full year ending December 31, 2021, Kaltura currently expects:
- Revenue is expected to be in the range of
$162.5 million to$164.5 million - Adjusted EBITDA is expected to be negative in the range of
$17.8 million to$14.8 million
The guidance provided above are forward-looking statements and actual results may differ materially. Refer to “Forward-Looking Statements” below for information on the factors that could cause our actual results to differ materially from these forward-looking statements. Kaltura has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) within this press release because the Company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. These items include, but are not limited to, stock-based compensation expenses, financial expenses (income), net, and provision for income tax. These items, which could materially affect the computation of forward-looking GAAP net income (loss), are inherently uncertain and depend on various factors, some of which are outside of the Company’s control. The guidance above is based on current expectations relating to COVID-19 and its variants.
Adjusted EBITDA is a non-GAAP financial measure. Additional information on Kaltura’s reported results, including a reconciliation of the non-GAAP financial measure to their most comparable GAAP measures, is included in the financial tables below.
Conference Call
Kaltura will host a conference call today on August 18, 2021 to review its second quarter 2021 financial results and to discuss its financial outlook.
| Time: | 8:00 a.m. ET | |
| United States/Canada Toll Free: | 877-407-0789 | |
| International Toll: | +1-201-689-8562 | |
| Conference ID: | 13722263 |
A live webcast will also be available in the Investor Relations section of Kaltura’s website at: https://investors.kaltura.com/news-and-events/events
A replay of the webcast will be available in the Investor Relations section of the company’s web site approximately two hours after the conclusion of the call and remain available for approximately 30 calendar days.
About Kaltura
Kaltura’s mission is to power any video experience for any organization. Our Video Experience Cloud offers live, real-time, and on-demand video products for enterprises of all industries, as well as specialized industry solutions, currently for educational institutions and for media and telecom companies. Underlying our products and solutions is a broad set of Media Services that are also used by other cloud platforms and companies to power video experiences and workflows for their own products. Kaltura’s Video Experience Cloud is used by leading brands reaching millions of users, at home, at school and at work, for communication, collaboration, training, marketing, sales, customer care, teaching, learning, virtual events, and entertainment experiences.
Investor Contacts:
Kaltura
Yaron Garmazi
Chief Financial Officer
IR@Kaltura.com
Sapphire Investor Relations
Erica Mannion and Michael Funari
+1 617 542 6180
IR@Kaltura.com
Media Contacts:
Kaltura
Lisa Bennett
pr.team@kaltura.com
Headline Media
Raanan Loew
raanan@headline.media
+1 347 897 9276
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, statements regarding our future financial and operating performance, including our GAAP and non-GAAP guidance; our business strategy, plans and objectives for future operations; capital expenditures; industry and market conditions and trends; and general business conditions, including as a result of the pandemic related to COVID-19 and its variants.
In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “predict,” “potential,” “positioned,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Any forward-looking statements contained herein are based on our historical performance and our current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent our expectations as of the date of this press release. Subsequent events may cause these expectations to change, and we disclaim any obligation to update the forward-looking statements in the future, except as required by law. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from our current expectations. Important factors that could cause actual results to differ materially from those anticipated in our forward-looking statements include, but are not limited to, our ability to manage and sustain our rapid growth; our ability to achieve and maintain profitability; the ongoing pandemic related to COVID-19 and its variants; the evolution of the markets for our offerings; the quarterly fluctuation in our results of operations; our ability to retain our customers; our ability to keep pace with technological and competitive developments; our ability to maintain the interoperability of our offerings across devices, operating systems and third-party applications; our reliance on third parties; our ability to retain our key personnel; risks related to our international operations; sand the other under the caption “Risk Factors” in our prospectus dated July 22, 2021, filed with the Securities and Exchange Commission (“SEC”) pursuant to Rule 424(b), as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and the Investor Relations page of our website at investors.kaltura.com.
Non-GAAP Financial Measures
In addition to our results determined in accordance with GAAP, we believe that Adjusted EBITDA is useful in evaluating the performance of our business. We define EBITDA as net profit (loss) before interest expense, net, provision for income taxes and depreciation and amortization expense. Adjusted EBITDA is defined as EBITDA (as defined above), adjusted for the impact of certain non-cash and other items that we believe are not indicative of our core operating performance, such as non-cash stock-based compensation expenses. Adjusted EBITDA is a supplemental measure of our performance, is not defined by or presented in accordance with GAAP, and should not be considered in isolation or as an alternative to net profit (loss) or any other performance measure prepared in accordance with GAAP. Adjusted EBITDA is presented because we believe that it provides useful supplemental information to investors and analysts regarding our operating performance and is frequently used by these parties in evaluating companies in our industry. By presenting Adjusted EBITDA, we provide a basis for comparison of our business operations between periods by excluding items that we do not believe are indicative of our core operating performance. We believe that investors’ understanding of our performance is enhanced by including this non-GAAP financial measure as a reasonable basis for comparing our ongoing results of operations. Additionally, our management uses Adjusted EBITDA as a supplemental measure of our performance because it assists us in comparing the operating performance of our business on a consistent basis between periods, as described above. Although we use EBITDA and Adjusted EBITDA as described above, EBITDA and Adjusted EBITDA have significant limitations as analytical tools. See the tables below regarding reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures.
Key Financial and Operating Metrics
Annualized Recurring Revenue. We use Annualized Recurring Revenue (“ARR”) as a measure of our revenue trend and an indicator of our future revenue opportunity from existing recurring customer contracts. We calculate ARR by annualizing our recurring revenue for the most recently completed fiscal quarter. Recurring revenues are generated from SaaS and PaaS subscriptions, as well as term licenses for software installed on the customer's premises (“On-Prem”). For the SaaS and PaaS components, we calculate ARR by annualizing the actual recurring revenue recognized for the latest fiscal quarter. For the On-Prem component for which revenue recognition is not ratable across the license term, we calculate ARR for each contract by dividing the total contract value (excluding professional services) as of the last day of the specified period by the number of days in the contract term and then multiplying by 365. Recurring revenue excludes revenue from one-time professional services and setup fees. ARR is not adjusted for the impact of any known or projected future customer cancellations, upgrades or downgrades or price increases or decreases. The amount of actual revenue that we recognize over any 12-month period is likely to differ from ARR at the beginning of that period, sometimes significantly. This may occur due to new bookings, cancellations, upgrades or downgrades, pending renewals, professional services revenue and acquisitions or divestitures. ARR should be viewed independently of revenue as it is an operating metric and is not intended to be a replacement or forecast of revenue. Our calculation of ARR may differ from similarly titled metrics presented by other companies.
Net Dollar Retention Rate. Our Net Dollar Retention Rate, which we use to measure our success in retaining and growing recurring revenue from our existing customers, compares our recognized recurring revenue from a set of customers across comparable periods. We calculate our Net Dollar Retention Rate for a given period as the recognized recurring revenue from the latest reported fiscal quarter from the set of customers whose revenue existed in the reported fiscal quarter from the prior year (the numerator), divided by recognized recurring revenue from such customers for the same fiscal quarter in the prior year (denominator). For annual periods, we report Net Dollar Retention Rate as the arithmetic average of the Net Dollar Retention Rate for all fiscal quarters included in the period. We consider subdivisions of the same legal entity (for example, divisions of a parent company or separate campuses that are part of the same state university system) to be a single customer for purposes of calculating our Net Dollar Retention Rate. Our calculation of Net Dollar Retention Rate for any fiscal period includes the positive recognized recurring revenue impacts of selling new services to existing customers and the negative recognized recurring revenue impacts of contraction and attrition among this set of customers. Our Net Dollar Retention Rate may fluctuate as a result of a number of factors, including the growing level of our revenue base, the level of penetration within our customer base, expansion of products and features, and our ability to retain our customers. Our calculation of Net Dollar Retention Rate may differ from similarly titled metrics presented by other companies.
Remaining Performance Obligations. Remaining Performance Obligations represents the amount of contracted future revenue that has not yet been delivered, including both subscription and professional services revenues. Remaining Performance Obligations consists of both deferred revenue and contracted non-cancelable amounts that will be invoiced and recognized in future periods. We expect to recognize
| Condensed Consolidated Balance Sheet (USD in thousands) |
| June 30, 2021 | December 31, 2020 (as restated) | |||||
| Unaudited | ||||||
| ASSETS | ||||||
| CURRENT ASSETS | ||||||
| Cash and cash equivalents | $ | 29,772 | $ | 27,711 | ||
| Trade receivables | 23,747 | 17,134 | ||||
| Prepaid expenses and other current assets | 4,714 | 2,769 | ||||
| Deferred contract acquisition and fulfillment costs, current | 7,549 | 5,848 | ||||
| Total current assets | 65,782 | 53,462 | ||||
| NON-CURRENT ASSETS | ||||||
| Property and equipment, net | 7,259 | 4,147 | ||||
| Other assets, noncurrent | 4,949 | 3,564 | ||||
| Deferred contract acquisition and fulfillment costs, noncurrent | 20,729 | 15,876 | ||||
| Intangible assets, | 2,347 | 2,835 | ||||
| Goodwill | 11,070 | 11,070 | ||||
| Total non-current assets | 46,354 | 37,492 | ||||
| TOTAL ASSETS | $ | 112,136 | $ | 90,954 | ||
| LIABILITIES, CONVERTIBLE AND REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT | ||||||
| CURRENT LIABILITIES | ||||||
| Current portion of long-term loans | $ | 1,743 | $ | 1,000 | ||
| Current portion of long-term lease liabilities | 894 | 1,738 | ||||
| Trade payables | 5,196 | 5,045 | ||||
| Employees and payroll accruals | 20,360 | 16,275 | ||||
| Accrued expenses and other current liabilities | 14,521 | 11,251 | ||||
| Deferred revenue | 59,070 | 47,685 | ||||
| Total current liabilities | 101,784 | 82,994 | ||||
| NON-CURRENT LIABILITIES | ||||||
| Deferred revenue, noncurrent | 1,752 | 1,858 | ||||
| Long-term loans, net of current portion | 59,749 | 47,160 | ||||
| Long-term lease liabilities, net of current portion | 3 | 142 | ||||
| Other liabilities, noncurrent | 2,331 | 2,564 | ||||
| Warrants to purchase preferred and common stock | 53,855 | 56,780 | ||||
| Total non-current liabilities | 117,690 | 108,504 | ||||
| TOTAL LIABILITIES | $ | 219,474 | $ | 191,498 | ||
| Condensed Consolidated Balance Sheet (USD in thousands) |
| June 30, 2021 | December 31, 2020 (as restated) | |||||
| Unaudited | ||||||
| COMMITMENTS AND CONTINGENCIES | ||||||
| Convertible preferred stock, | 1,921 | 1,921 | ||||
| Redeemable convertible preferred stock, | 159,340 | 158,191 | ||||
| Total mezzanine equity | 161,261 | 160,112 | ||||
| STOCKHOLDERS' DEFICIT | ||||||
| Common stock of | 2 | 2 | ||||
| Treasury stock – 7,685,190 shares of common stock, | (4,881 | ) | (4,881 | ) | ||
| Additional paid-in capital | 17,838 | 8,388 | ||||
| Receivables on account of stock | — | (882 | ) | |||
| Accumulated deficit | (281,558 | ) | (263,283 | ) | ||
| Total stockholders' deficit | (268,599 | ) | (260,656 | ) | ||
| TOTAL LIABILITIES, CONVERTIBLE AND REDEEMABLE CONVERTIBLE PREFERRED STOCKS AND STOCKHOLDERS' DEFICIT | $ | 112,136 | $ | 90,954 | ||
| Condensed Consolidated Statements of Operations (USD in thousands, except per share amounts) |
| Three months ended June 30 | Six months ended June 30 | ||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||
| Unaudited | |||||||||||||
| Revenue: | |||||||||||||
| Subscription | $ | 36,467 | $ | 24,969 | $ | 68,808 | $ | 48,173 | |||||
| Professional services | 5,136 | 3,780 | 10,508 | 6,482 | |||||||||
| Total revenue | 41,603 | 28,749 | 79,316 | 54,655 | |||||||||
| Cost of revenue: | |||||||||||||
| Subscription | 10,018 | 6,352 | 19,894 | 12,036 | |||||||||
| Professional services | 5,604 | 4,436 | 11,309 | 9,168 | |||||||||
| Total cost of revenue | 15,622 | 10,788 | 31,203 | 21,204 | |||||||||
| Gross profit | 25,981 | 17,961 | 48,113 | 33,451 | |||||||||
| Operating expenses: | |||||||||||||
| Research and development | 11,787 | 6,489 | 22,687 | 13,268 | |||||||||
| Sales and marketing | 10,524 | 6,521 | 20,685 | 14,800 | |||||||||
| General and administrative | 9,440 | 3,828 | 17,387 | 8,183 | |||||||||
| Other operating expenses | — | — | 1,724 | — | |||||||||
| Total operating expenses | 31,751 | 16,838 | 62,483 | 36,251 | |||||||||
| Operating loss | 5,770 | (1,123 | ) | 14,370 | 2,800 | ||||||||
| Financial expenses (income), net | (4,497 | ) | 11,575 | 653 | 11,284 | ||||||||
| Loss before income taxes | 1,273 | 10,452 | 15,023 | 14,084 | |||||||||
| Provision for income taxes | 1,446 | 554 | 3,252 | 1,906 | |||||||||
| Net loss | $ | 2,719 | $ | 11,006 | $ | 18,275 | $ | 15,990 | |||||
| Net loss per share attributable to common stockholders, basic | $ | 0.24 | $ | 0.56 | $ | 0.98 | $ | 0.88 | |||||
| Net loss per share attributable to common stockholders, diluted | $ | 0.37 | $ | 0.56 | $ | 0.98 | $ | 0.88 | |||||
| Weighted average number of shares used in computing basic net loss per share attributable to common stockholders | 25,768,411 | 25,174,126 | 25,538,010 | 24,575,196 | |||||||||
| Weighted average number of shares used in computing diluted net loss per share attributable to common stockholders | 32,836,110 | 25,174,126 | 25,538,010 | 24,575,196 | |||||||||
Stock-based compensation included in above line items:
| Cost of revenue | $ | 185 | $ | 94 | $ | 466 | $ | 146 | ||||
| Research and development | 791 | 284 | 1,724 | 425 | ||||||||
| Sales and marketing | 464 | 364 | 1,204 | 446 | ||||||||
| General and administrative | 2,773 | 392 | 5,779 | 779 | ||||||||
| Total | $ | 4,213 | $ | 1,134 | $ | 9,173 | $ | 1,796 |
| Revenue by Segment (USD in thousands) |
| Three months ended June 30 | Six months ended June 30 | |||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||
| Unaudited | ||||||||||||
| Enterprise, Education and Technology | $ | 30,237 | $ | 18,781 | $ | 57,555 | $ | 35,168 | ||||
| Media and Telecom | 11,366 | 9,968 | 21,761 | 19,487 | ||||||||
| Total Revenue | $ | 41,603 | $ | 28,749 | $ | 79,316 | $ | 54,655 | ||||
| Condensed Consolidated Statements of Cash Flows (USD in thousands) |
| Six months ended June 30, | |||||||
| 2021 | 2020 | ||||||
| Unaudited | |||||||
| Cash flows from operating activities: | |||||||
| Net income | $ | (18,275 | ) | $ | (15,990 | ) | |
| Adjustments required to reconcile net income to net cash provided by (used in) operating activities: | |||||||
| Depreciation and amortization | 1,200 | 2,093 | |||||
| Stock-based compensation expenses | 9,173 | 1,796 | |||||
| Increase in deferred contract acquisition and fulfillment costs | (6,554 | ) | (1,769 | ) | |||
| Change in valuation of warrants to purchase preferred and common stock | (1,776 | ) | 10,034 | ||||
| Non-cash interest expenses | 222 | 43 | |||||
| Non-cash expenses with respect to stockholders’ loans. | 882 | - | |||||
| Changes in operating assets and liabilities: | |||||||
| Increase in trade receivables | (6,612 | ) | (692 | ) | |||
| Increase in prepaid expenses and other current assets and other assets, noncurrent | (1,945 | ) | (215 | ) | |||
| Decrease in trade payables | (177 | ) | (415 | ) | |||
| Increase in accrued expenses and other current liabilities | 3,112 | 2,801 | |||||
| Increase in employees and payroll accruals | 4,085 | 989 | |||||
| Increase (decrease)in other liabilities, noncurrent | (309 | ) | 219 | ||||
| Increase (decrease) in deferred revenue | 11,279 | (2,082 | ) | ||||
| Net cash used in operating activities | (5,695 | ) | (3,188 | ) | |||
| Cash flows from investing activities: | |||||||
| Net cash acquired in business combination | - | 383 | |||||
| Purchases of property and equipment | (956 | ) | (566 | ) | |||
| Capitalized internal-use software | (1,255 | ) | (382 | ) | |||
| Purchase of intangible assets | (79 | ) | (89 | ) | |||
| Net cash used in investing activities | (2,290 | ) | (654 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from long term loans, net of debt issuance cost | 41,915 | 2,000 | |||||
| Repayment of long-term loans | (28,833 | ) | - | ||||
| Repayment of finance lease liabilities | (956 | ) | (1,267 | ) | |||
| Proceeds from exercise of options by employees | 277 | 26 | |||||
| Payment of deferred offering costs | (2,594 | ) | - | ||||
| Net cash provided by financing activities | 9,809 | 759 | |||||
| Increase (Decrease) in cash, cash equivalents and restricted cash | 1,824 | (3,083 | ) | ||||
| Cash, cash equivalents and restricted cash at the beginning of the period | 28,355 | 27,144 | |||||
| Cash, cash equivalents and restricted cash at the end of the period | 30,179 | 24,061 | |||||
| Non-cash transactions: | |||||||
| Purchase of property and equipment, internal-use software and intangible asset in credit | 1,534 | 75 | |||||
| Issuance of ordinary shares and warrant with respect to business combination | - | 3,799 | |||||
| Adjusted EBITDA (USD in thousands) |
| Three months ended June 30 | Six months ended June 30 | ||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||
| Unaudited | |||||||||||||||
| Net Loss | $ | (2,719 | ) | $ | (11,006 | ) | $ | (18,275 | ) | $ | (15,990 | ) | |||
| Financial expenses (income), net | (4,497 | ) | 11,575 | 653 | 11,284 | ||||||||||
| Provision for income taxes | 1,446 | 554 | 3,252 | 1,906 | |||||||||||
| Depreciation and amortization | 603 | 1,091 | 1,200 | 2,093 | |||||||||||
| EBITDA | (5,167 | ) | 2,214 | (13,170 | ) | (707 | ) | ||||||||
| Stock-based compensation expense | 4,213 | 1,134 | 9,173 | 1,796 | |||||||||||
| Other operating expenses | - | - | 1,724 | - | |||||||||||
| Adjusted EBITDA | $ | (954 | ) | $ | 3,348 | $ | (2,273 | ) | $ | 1,089 | |||||
Reported KPIs
| For the Three Months Ended June 30, | |||||||
| 2021 | 2020 | ||||||
| (dollar amounts in thousands) | |||||||
| Annualized Recurring Revenue | $ | 145,431 | $ | 99,642 | |||
| Net Dollar Retention Rate | 121 | % | 105 | % | |||
| Remaining Performance Obligations | $ | 156,323 | $ | 116,513 | |||
FAQ
What were Kaltura's revenue results for Q2 2021?
What is Kaltura's adjusted EBITDA for Q2 2021?
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