The following is a summary of the Kaltura, Inc. (KLTR) Q4 2023 Earnings Call Transcript:
Financial Performance:
Kaltura reported Q4 2023 revenue of $44.5 million, slightly up from the previous year, with $40.8 million of subscription revenue.
The gross margin was slightly better at 64% for Q4 and the full year 2023, compared to 63% in Q4 2022.
Despite these improvements, there was a GAAP net loss of $46.4 million for the full year and $12.1 million for Q4 2023.
The company managed to reduce the adjusted EBITDA losses to $2.5 million and reduced the cash used for operations by $38.5 million.
For 2024, they forecast total revenues to be between $173.7 million and $176.7 million.
Business Progress:
An upward trend was noted in customer retention, with Kaltura recording a retention rate of 99% in Q4 2023 against 96% in the previous year.
The company's focus is on the expansion of its AI capabilities with a view that enhanced video experiences will drive engagement and business results.
Successes were reported in the fields of education and media, leading to more households joining their Cloud TV service.
The sales strategy for 2024 aims to grow the commercial sales team and increase market presence, with particular aims on small-to-medium enterprises and large corporations.
Kaltura anticipates AI to be a driving force in future content creation and system value, expecting gradual growth as part of a multi-year plan.
More details: Kaltura IR
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