NASDAQ$KLTR
Kaltura Inc. · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Kaltura reported Q4 2025 revenue of $45.5M and record adjusted EBITDA of $6.3M.
Q4 revenue was $45.5 million (flat YoY) with subscription revenue $42.7 million. Adjusted EBITDA was $6.3 million, a record tenth consecutive profitable quarter. FY25 revenue was $180.9 million (+1%) with adjusted EBITDA $18.6 million (+150% YoY).
- Highest new bookings in 2025 including two seven-figure deals.
- Gross retention reached highest level in five years for EE&T.
- Acquired eSelf.ai; definitive agreement to acquire PathFactory.
- GAAP net loss $0.6M; non-GAAP net profit $5.2M in Q4.
- Targeting Rule of 30 (growth + EBITDA margin) by 2028.
Headline financials
Revenue & EPS history
Kaltura · Revenue · Quarterly
$45.5M
Revenue by segment
Kaltura · $43.5M total across 2 segments · Q3 2023
- Enterprise, Education & Tech$31.1M+3.5%71.4%
- Media & Telecom$12.4M+13.2%28.6%
Forward guidance
Management targets double-digit revenue growth and adjusted EBITDA margin improvement by 2028 via AI and agentic engagement investments.
Tailwinds
- Record adjusted EBITDA and booking momentum.
- Strategic M&A expands conversation automation capabilities.
Headwinds
- Media & Telecom revenue declined 12% YoY in Q4.
- ARR down 3% to $168.2M.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q4 2025
+1.2%
Avg return
Earnings day
+1.8%
Avg return
5 days after
-4.1%
Avg return
30 days after
59%
13 / 22 earnings
Positive
+33.1%
Q3 2024
Best reaction
-38.3%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.2% | +5.8% | +2.2% | |
| Q4 2025 | -9.4% | -11.5% | -18.7% | |
| Q3 2025 | +24.7% | +13.6% | +14.3% | |
| Q1 2025 | -0.5% | +4.5% | +1.4% | |
| Q4 2024 | -2.0% | -18.4% | -25.2% | |
| Q3 2024 | +33.1% | +46.1% | +57.7% | |
| Q2 2024 | +3.5% | +7.0% | -5.2% | |
| Q1 2024 | -3.1% | -6.2% | -36.4% | |
| Q4 2023 | +2.1% | -3.4% | -8.3% | |
| Q3 2023 | +1.1% | -2.3% | +2.3% | |
| Q2 2023 | +4.0% | +5.1% | -2.5% | |
| Q1 2023 | +5.1% | +5.7% | +2.3% | |
| Q4 2022 | -2.0% | -4.0% | -1.0% | |
| Q3 2022 | +11.4% | +16.2% | +10.2% | |
| Q2 2022 | -1.9% | -6.8% | -18.4% | |
| Q1 2021 | +2.7% | +11.4% | +20.8% | |
| Q1 2022 | +1.4% | +9.9% | +28.4% | |
| Q4 2021 | -38.3% | -27.3% | -39.9% | |
| Q3 2021 | -35.2% | -34.4% | -58.1% | |
| Q4 2020 | +9.8% | +4.5% | -7.6% | |
| Q2 2020 | +9.8% | +4.5% | -7.6% | |
| Q2 2021 | +12.1% | +20.6% | -0.6% | |
| Q3 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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