Kaltura Restores Year-Over-Year Revenue Growth

The Tip Desk · August 5, 2026 · 3 min read

Second-quarter revenue was $46.9 million, up 5% from a year earlier, after a 5% decline in the first quarter, and the company said it beat the high end of its guidance.

Kaltura, Inc. (KLTR), the Agentic Digital Experience company, reported second-quarter revenue of $46.9 million, up 5% from $44.5 million a year earlier, reversing a 5% year-over-year decline in the first quarter. Subscription revenue was $45.6 million.

The company said it exceeded the high end of its guidance for both revenue and adjusted EBITDA. Adjusted EBITDA was $5.9 million, the highest second-quarter result to date. Non-GAAP gross margin reached a record 75%.

Enterprise, Education and Technology revenue was $36.8 million, up 11% from a year earlier after a 1% decline in the first quarter. Media & Telecom revenue was $10.1 million, down 10% year-over-year after a 17% decline in the first quarter; the company attributed the drop primarily to elevated gross churn throughout 2025.

Annualized recurring revenue was $184.6 million, up 8% from $170.4 million a year earlier, after a 3% year-over-year decline in the first quarter. Remaining performance obligations were $164.3 million as of June 30, 2026. Net dollar retention was 96%. Gross retention was the company’s strongest since the fourth quarter of 2022.

GAAP gross margin was 74%. Subscription gross margin was 78%. GAAP operating loss narrowed to $0.8 million from $2.8 million a year earlier. Non-GAAP operating profit was $4.8 million. GAAP net loss was $5.5 million, or $0.04 a share. Non-GAAP results flipped to net profit of $2.3 million, or $0.01 a share, from a $2.5 million net loss a year earlier.

The company signed a record fourteen new deals that included AI offerings, doubling its previous record, including nine deals with Agentic Avatars and eight with new logos. It also grew new subscription bookings sequentially, including thirteen six-digit total contract value deals, five of them with new logos. Chief Executive Officer Ron Yekutiel said the company is beginning to see measurable commercial traction from its evolution to powering rich, agentic digital experiences, and that a growing pipeline, expanding proofs of concept, and progress integrating eSelf.ai and PathFactory increase confidence in stronger bookings momentum in the second half of the year and a more meaningful revenue contribution from new products in 2027.

Cash, cash equivalents, and marketable securities were $35.5 million at quarter-end. Net cash used in operating activities was $2.0 million, versus $2.7 million of net cash provided a year earlier.

For the third quarter of 2026, Kaltura expects subscription revenue of $43.9 million to $44.6 million, total revenue of $45.8 million to $46.5 million, and adjusted EBITDA of $2.0 million to $3.0 million. For full-year 2026 it expects subscription revenue of $176.6 million to $178.6 million, total revenue of $183.0 million to $185.0 million, and adjusted EBITDA of $15.8 million to $17.2 million.