The following is a summary of the Kaltura, Inc. (KLTR) Q1 2024 Earnings Call Transcript:
Financial Performance:
Kaltura reported Q1 2024 total revenue of $44.8 million, a 3% increase year-over-year and subscription revenue of $41.2 million, 2% higher than the previous year.
The company's retention rates improved for the third quarter in a row, marking a five-quarter high.
For the third consecutive quarter, Kaltura posted a positive Adjusted EBITDA of $0.6 million.
Despite using $1.1 million for operations in Q1 2024 due to seasonal cash flows, this was better than the $7.4 million consumed in Q1 2023.
Business Progress:
Kaltura is improving its event platform, enhancing its product line with content management capabilities, ad-block detection, and user experience improvements and enhancing real-time conferencing rooms.
The company received numerous awards in the first quarter and showed progress in AI features, including a successful pilot with a tech company and developments on its AI-powered speech recognition solution.
Despite the uncertainty in the economic outlook, Kaltura is maintaining its revenue guidance for 2024.
Kaltura plans to increase its sales force size by 10 members later in the year, alongside forming successful partnerships with other technologies, and is considering market consolidation. The company observed no significant competition changes or pricing pressures.
More details: Kaltura IR
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