Kaltura Reports 8% Revenue Growth in Third Quarter 2026

The Tip Desk · November 9, 2026 · 3 min read

Third-quarter revenue of $47.3 million exceeded the high end of guidance as the company forecast full-year total revenue of $185.0 million–$185.7 million.

Kaltura, Inc. (KLTR), the Agentic Digital Experience Company, reported third-quarter total revenue of $47.3 million, up 8% from $43.9 million a year earlier, after a 5% year-over-year increase in the second quarter. Subscription revenue was $45.9 million, up 9% from $42.0 million a year earlier.

The company said it exceeded the high end of its guidance for total revenue, subscription revenue and adjusted EBITDA, and that both total and subscription revenue reached record quarterly levels. Adjusted EBITDA was $6.0 million, up 45% from $4.2 million a year earlier, which the company described as its highest third-quarter result to date. Cash flow from operations was $7.6 million.

GAAP net loss narrowed to $1.5 million, or $0.01 a share, from a $2.6 million loss, or $0.02 a share, a year earlier. Non-GAAP net profit was $3.1 million, or $0.02 a share. GAAP gross margin expanded to 72% from 70% a year earlier; non-GAAP gross margin expanded to 73% from 70%. Subscription gross margin remained stable at 77%.

On a reporting-segment basis, Enterprise, Education and Technology total revenue increased 14% year-over-year, accelerating from 11% year-over-year growth in the second quarter. Media & Telecom total revenue declined 10% year-over-year, matching the second-quarter year-over-year decline the company attributed to elevated gross churn throughout 2025. Annualized recurring revenue was $184.7 million, up 9% from $169.1 million a year earlier, reversing a 3% year-over-year decline in the first quarter.

New subscription bookings more than doubled sequentially, making the third quarter the company’s strongest bookings quarter since 2024. It signed eleven new transactions with total contract values of at least six figures, including three seven-figure transactions, the highest quarterly number since 2024, and two new-logo wins, one of which was seven figures. Net dollar retention improved for the second consecutive quarter, reaching 97%.

The company said it signed a record fifteen transactions that included one or more of its AI offerings, representing $3.8 million in combined total contract value, compared with $1.0 million in the second quarter of 2026. Twelve of those transactions were expansions or renewals with existing customers. Nine included Agentic Avatars or related avatar capabilities, eight included Content Lab, and several included both. Use cases spanned instructional-content creation, AI tutoring, practice and role-play, workflow automation, employee learning, enterprise knowledge sharing, marketing and customer engagement.

Kaltura said it continued integrating Kaltura, eSelf.ai and PathFactory into a unified agentic digital experience platform. After quarter-end, it announced Project 720 with Israel’s Ministry of Education, an initial one-year pilot delivering AI-based STEM learning to approximately 2,000 students across 20 middle schools, with the potential to expand into additional subjects, grades and schools. Kaltura-powered services supported more than 1.3 billion playback sessions during the 2026 FIFA World Cup and peaked at approximately 7 million concurrent sessions across roughly 40 million registered devices, with demand approximately 86% higher than during the 2022 tournament.

Cash, cash equivalents and marketable securities were $41.0 million at quarter-end. Remaining performance obligations were $161.6 million.

For the fourth quarter of 2026, Kaltura expects subscription revenue of $44.3 million to $45.0 million, total revenue of $46.2 million to $46.9 million, and adjusted EBITDA of $2.0 million to $3.0 million. For the full year ending December 31, 2026, it expects subscription revenue of $179.0 million to $179.7 million, total revenue of $185.0 million to $185.7 million, and adjusted EBITDA of $19.5 million to $20.5 million. The company said all guidance ranges represent record high annual results.