Kaltura, Inc. (KLTR)
NASDAQInformation TechnologySoftware - ApplicationSnapshot 2026-09-04
$1.51-1.31%
Close 2026-09-04 · 1-day change
NASDAQInformation TechnologySoftware - ApplicationSnapshot 2026-09-04
Warn: Management is running behind on a stated commitment.
Kaltura aims to grow subscription revenue 1-3% in 2026. Adjusted EBITDA target is $13.8M to $15.2M. The company recently acquired PathFactory and E-Self.AI. These moves could help improve growth and profits.
Revenue growth is slow and profit remains negative. Recent operating income fell to -$1.2M. CFO turnover may hurt financial stability. The company is still loss-making and progress is limited.
The price is about 17% below our fair value near $1.53. Analysts expect about 5% revenue growth. Our view is cautious given slow progress and losses.
Breaks if: adjusted EBITDA falls below $13.8M in FY26
Target adjusted EBITDA in the range of $13.8 million to $17.2 million for full year 2026, reflecting improved profitability and operational efficiency.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
KLTR represents a turnaround investment with a focus on improving subscription revenue and integrating an acquisition. The current thesis is cautious, given the company's loss-making status and mixed management performance.
The market appears to price in a significant expectations gap, suggesting that investors are not fully convinced of KLTR's ability to improve its financial performance. The valuation shows a premium compared to peers, indicating that the stock may be seen as unjustified in its current state.
Management is on track to grow subscription revenue and integrate the PathFactory acquisition, but adjusted EBITDA progress is mixed. Near-term risks are present, especially given the company's smaller size and recent misses in the industry.
The long-term thesis hinges on KLTR's ability to maintain or improve guidance, the potential easing of interest rates by the Fed, and the performance of sector leaders that could influence sentiment in the tech space.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. Kaltura's revenue growth supports its goal to increase subscription revenue by 1-3% in 2026. The company also forecasts adjusted EBITDA of $13.8M-$15.2M for 2026, reinforcing management's financial targets. There are no new threats impacting the thesis.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated as a priority in 3 of last 3 quarters. Adjusted EBITDA was $5.7M in 2026-Q1 and $5.9M in 2026-Q2, with full-year 2026 guidance between $13.8M and $17.2M. The trajectory is delivering improved profitability with adjusted EBITDA increasing quarter-over-quarter.
“For the full year ending December 31, 2026, Kaltura expects adjusted EBITDA to be in the range of $15.8 million to $17.2 million.”
“For the full year ending December 31, 2026, the Company expects adjusted EBITDA to be between $13.8 million and $15.2 million.”
“For the full year ending December 31, 2026, Kaltura expects adjusted EBITDA to be between $13.8 million and $15.2 million.”
Breaks if: total revenue growth falls below 3% in FY26
Target adjusted EBITDA in the range of $13.8 million to $17.2 million for full year 2026, reflecting improved profitability and operational efficiency.
Stated as a priority in 3 of last 3 quarters. Adjusted EBITDA was $5.7M in 2026-Q1 and $5.9M in 2026-Q2, with full-year 2026 guidance between $13.8M and $17.2M. The trajectory is delivering improved profitability with adjusted EBITDA increasing quarter-over-quarter.
“For the full year ending December 31, 2026, Kaltura expects adjusted EBITDA to be in the range of $15.8 million to $17.2 million.”
“For the full year ending December 31, 2026, the Company expects adjusted EBITDA to be between $13.8 million and $15.2 million.”
“For the full year ending December 31, 2026, Kaltura expects adjusted EBITDA to be between $13.8 million and $15.2 million.”
Continue to grow subscription revenue by 1-3% for the full year 2026, focusing on expanding customer engagement and new AI-driven offerings.
Stated as a priority in 3 of last 3 quarters. Subscription revenue was $43.2M in 2026-Q1 and $45.6M in 2026-Q2, with full-year 2026 guidance for subscription revenue growth of 1-3% to between $174.5M and $178.6M. The trajectory shows delivering progress with sequential quarterly growth and consistent guidance.
“For the full year ending December 31, 2026, Kaltura expects subscription revenue to be between $176.6 million and $178.6 million.”
Breaks if: subscription revenue growth falls below 1% in FY26
Continue to grow subscription revenue by 1-3% for the full year 2026, focusing on expanding customer engagement and new AI-driven offerings.
Stated as a priority in 3 of last 3 quarters. Subscription revenue was $43.2M in 2026-Q1 and $45.6M in 2026-Q2, with full-year 2026 guidance for subscription revenue growth of 1-3% to between $174.5M and $178.6M. The trajectory shows delivering progress with sequential quarterly growth and consistent guidance.
“For the full year ending December 31, 2026, Kaltura expects subscription revenue to be between $176.6 million and $178.6 million.”
“For the full year ending December 31, 2026, the Company expects subscription revenue to grow 1-3% to between $174.5 million and $176.7 million.”
“For the full year ending December 31, 2026, Kaltura expects subscription revenue to be between $174.5 million and $176.7 million.”
In the next 1 to 3 years, KLTR's performance will depend on its execution of growth strategies and external market conditions. Not investment advice.
“For the full year ending December 31, 2026, the Company expects subscription revenue to grow 1-3% to between $174.5 million and $176.7 million.”
“For the full year ending December 31, 2026, Kaltura expects subscription revenue to be between $174.5 million and $176.7 million.”