Kaltura, Inc. (KLTR)

NASDAQInformation TechnologySoftware - ApplicationSnapshot 2026-10-23

$1.440.00%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 25, 2026

What could strengthen or challenge Kaltura, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q3
Revenue	$45.8M–$46.5M	—
Subscription revenue	$43.9M–$44.6M	—
EBITDA	$2M–$3Mnon-GAAP	—
FY 2026 · Q4
Revenue	—	46.39M
EPS	—	-0.009
FY 2026 · Annual
Revenue	—	184M
EPS	—	0.011
FY 2027 · Annual
Revenue	—	191.69M
EPS	—	0.051

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Adjusted EBITDA between $13.8M and $15.2M in 2026	Adjusted EBITDA target is $13.8M to $15.2M.	Intact	adjusted EBITDA falls below $13.8M in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 25, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context 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. Delivery assessment Oct 25, 2026
Total revenue grows about 5% in 2026	A supporting condition in Kaltura, Inc.'s published investment case. The stated target is about 5% revenue growth in 2026.	Intact	total revenue growth falls below 3% in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 25, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context 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. Delivery assessment Oct 25, 2026
Subscription revenue grows 1-3% in 2026	A primary condition in Kaltura, Inc.'s published investment case. The stated target is grow subscription revenue by 1-3% in 2026.	Intact	subscription revenue growth falls below 1% in FY26	Subscription revenue: $45.642M FY2026-Q2; reported segment. Published target: grow subscription revenue by 1-3% in 2026. Target and observation units differ. Source published Aug 5, 202645,642,000 USD · source valueLast status assessment Oct 25, 2026 Measurement source Subscription · reported segment FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_segment_revenue. Reference: 2026-Q2. Source status: vendor observation. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context 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. Delivery assessment Oct 25, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS: comparable history unavailable.

FY2027 revenue: comparable history unavailable.

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	2 / 2
2026-07-25	Unavailable	Unavailable	2 / 2
2026-07-26	Unavailable	Unavailable	2 / 2
2026-07-27	Unavailable	Unavailable	2 / 2
2026-07-28	Unavailable	Unavailable	2 / 2
2026-07-29	Unavailable	Unavailable	2 / 2
2026-07-30	Unavailable	Unavailable	2 / 2
2026-07-31	Unavailable	Unavailable	2 / 2
2026-08-01	Unavailable	Unavailable	2 / 2
2026-08-02	Unavailable	Unavailable	2 / 2
2026-08-03	Unavailable	Unavailable	2 / 2
2026-08-04	Unavailable	Unavailable	2 / 2
2026-08-05	Unavailable	Unavailable	2 / 2
2026-08-06	Unavailable	Unavailable	2 / 2
2026-08-07	Unavailable	Unavailable	1 / 2
2026-08-08	Unavailable	Unavailable	1 / 2
2026-08-09	Unavailable	Unavailable	1 / 2
2026-08-10	Unavailable	Unavailable	1 / 2
2026-08-12	Unavailable	Unavailable	1 / 2
2026-08-13	Unavailable	Unavailable	1 / 2
2026-08-14	Unavailable	Unavailable	1 / 2
2026-08-15	Unavailable	Unavailable	1 / 2
2026-08-16	Unavailable	Unavailable	1 / 2
2026-08-17	Unavailable	Unavailable	1 / 2
2026-08-18	Unavailable	Unavailable	1 / 2
2026-08-19	Unavailable	Unavailable	1 / 2
2026-08-20	Unavailable	Unavailable	2 / 2
2026-08-21	Unavailable	Unavailable	2 / 2
2026-08-22	Unavailable	Unavailable	2 / 2
2026-08-23	Unavailable	Unavailable	2 / 2
2026-08-24	Unavailable	Unavailable	2 / 2
2026-08-25	Unavailable	Unavailable	2 / 2
2026-08-26	Unavailable	Unavailable	2 / 2
2026-08-27	Unavailable	Unavailable	2 / 2
2026-08-28	Unavailable	Unavailable	2 / 2
2026-08-29	Unavailable	Unavailable	2 / 2
2026-08-30	Unavailable	Unavailable	2 / 2
2026-08-31	Unavailable	Unavailable	2 / 2
2026-09-01	Unavailable	Unavailable	2 / 2
2026-09-02	Unavailable	Unavailable	2 / 2
2026-09-03	Unavailable	Unavailable	2 / 2
2026-09-04	Unavailable	Unavailable	2 / 2
2026-09-05	Unavailable	Unavailable	2 / 2
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2026-09-11	Unavailable	Unavailable	2 / 2
2026-09-12	Unavailable	Unavailable	2 / 2
2026-09-13	Unavailable	Unavailable	2 / 2
2026-09-14	Unavailable	Unavailable	2 / 2
2026-09-15	Unavailable	Unavailable	2 / 2
2026-09-16	Unavailable	Unavailable	2 / 2
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2026-09-18	Unavailable	Unavailable	2 / 2
2026-09-19	Unavailable	Unavailable	2 / 2
2026-09-20	Unavailable	Unavailable	2 / 2
2026-09-21	Unavailable	Unavailable	2 / 2
2026-09-22	Unavailable	Unavailable	2 / 2
2026-09-23	Unavailable	Unavailable	2 / 2
2026-09-24	Unavailable	Unavailable	2 / 2
2026-09-25	Unavailable	Unavailable	2 / 2
2026-09-26	Unavailable	Unavailable	2 / 2
2026-09-27	Unavailable	Unavailable	2 / 2
2026-09-28	Unavailable	Unavailable	2 / 2
2026-09-29	Unavailable	Unavailable	2 / 2
2026-09-30	Unavailable	Unavailable	2 / 2
2026-10-01	Unavailable	Unavailable	2 / 2
2026-10-02	Unavailable	Unavailable	2 / 2
2026-10-03	Unavailable	Unavailable	2 / 2
2026-10-04	Unavailable	Unavailable	2 / 2
2026-10-05	Unavailable	Unavailable	2 / 2
2026-10-06	Unavailable	Unavailable	2 / 2
2026-10-07	Unavailable	Unavailable	2 / 2
2026-10-08	Unavailable	Unavailable	2 / 2
2026-10-09	Unavailable	Unavailable	2 / 2
2026-10-10	Unavailable	Unavailable	2 / 2
2026-10-11	Unavailable	Unavailable	2 / 2
2026-10-12	Unavailable	Unavailable	2 / 2
2026-10-13	Unavailable	Unavailable	2 / 2
2026-10-14	Unavailable	Unavailable	2 / 2
2026-10-15	Unavailable	Unavailable	2 / 2
2026-10-16	Unavailable	Unavailable	2 / 2
2026-10-17	Unavailable	Unavailable	2 / 2
2026-10-18	Unavailable	Unavailable	2 / 2
2026-10-19	Unavailable	Unavailable	2 / 2
2026-10-20	Unavailable	Unavailable	2 / 2
2026-10-21	Unavailable	Unavailable	2 / 2
2026-10-22	Unavailable	Unavailable	2 / 2
2026-10-23	Unavailable	Unavailable	2 / 2
2026-10-24	Unavailable	Unavailable	2 / 2
2026-10-25	Unavailable	Unavailable	2 / 2

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	2	0	0
2026-06-01	2	0	0
2026-07-01	2	0	0
2026-08-01	2	0	0
2026-09-01	2	0	0
2026-10-01	2	0	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 2 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 26–Oct 25 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 26, 2026–Oct 25, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Adjusted EBITDA between $13.8M and $15.2M in 2026Direct metric needs a verified mapping
Total revenue grows about 5% in 2026Direct metric needs a verified mapping
Subscription revenue grows 1-3% in 2026Subscription revenue: $45.642M

Next proof point

Nov 9, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.5%Typical daily move · historical

Downside history

-41.3%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Kaltura, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a high-risk, loss-making software business with a cautious, watch-stage thesis rather than a proven durable growth record. Management is making progress on subscription growth and the PathFactory integration, but profitability delivery is mixed.

What's priced into Kaltura, Inc.

The valuation is tagged as stretched, with a measured premium versus peers and a re-rating identified as the main driver of the gap. The expectations gap is positive, but the evidence does not specify exactly what growth or profit assumptions the market has priced in.

What the fundamentals likely do

Near term, subscription revenue has grown sequentially, and adjusted EBITDA also increased from the first to the second quarter of 2026. Full-year guidance calls for 1–3% subscription revenue growth and adjusted EBITDA of $13.8M–$17.2M, while results remain below the industry cohort and the overall signal has turned cautious.

What Kaltura, Inc. hinges on

The multi-year thesis hinges on sustaining subscription growth, meeting the 2026 profitability range, and turning PathFactory integration into support for future growth. A guidance cut would be a meaningful negative; rate cuts or continued strength among sector bellwethers such as SAP, CRM, and NOW could provide a more supportive backdrop.