Kaltura Stock

Kaltura, Inc. and with its subsidiaries (Kaltura) provide various software-as-a-service ('SaaS') products and solutions and a platform-as-a-service ('PaaS').

The company's business operations are allocated between two main segments, Enterprise, Education, and Technology (EE&T) and Media and Telecom (M&T).

The company has developed a platform for video creation, management, and collaboration. The company's platform enables companies, educational institutions, and other organizations to cost-effectively launch advanced online video experiences, including for Over-the-top (OTT) Television, Cloud TV, web video publishing, video-based teaching, learning, and training, video-based marketing, and video-based collaboration. The company's core offerings consist of various Software-as-a-Service (SaaS) products and solutions and a Platform-as-a-Service (PaaS).

Kaltura's Video Experience Cloud includes products that power digital experiences, such as virtual and hybrid events, webinars, online learning, and content portals for large enterprises and small and medium enterprises (SMEs), across all industries, including technology, financial services, healthcare and pharma, IT & professional services, retail and manufacturing. In 2023, the company broadened its suite of offerings for marketers, successfully attracting new clients and stakeholders across Marketing Technology (MarTech), Field Marketing, and Chief Marketing Officer (CMO) groups.

The company's platform also includes industry-specific solutions, for the Education and Media and Telecom industries. For developers, it includes an extensive array of Application Programming Interfaces (APIs) and developer tools that enable them to build other media workflows, integrations, and industry solutions.

Kaltura has long been recognized by top industry analysts as a leader in the Enterprise Video Content Management market, which includes experiences that are based on video-on-demand and live broadcast/streaming. In 2020, the company expanded its offerings to power experiences that harness two-way real-time-communication (RTC) with the launch of its new products for virtual and hybrid events, webinars and online learning. Since then, the capabilities of the company's event and webinar platform that incorporates its virtual meeting rooms have also been recognized by those same analysts. These newer products incorporate the company's full stack of on-demand, live and RTC technology, designed to provide the company's customers with the utmost level of flexibility and variety when crafting their digital experiences.

The company's Video Experience Cloud is used by leading brands, reaching millions of users, at home, at school and at work. Organizations from a wide range of industries, including financial services, technology, professional services, healthcare, pharma, education, public sector and media and telecommunications, trust Kaltura to power their digital experiences for marketing, events, communication, collaboration, sales, customer care, training and learning, and entertainment experiences.

Growth Strategies

The key elements of the company's strategy are to grow its existing customers; secure new customers within its current markets; expand its product offering for its existing markets; expand into new markets; and accelerate through partnerships and M&A.

Products

Kaltura's Video Experience Cloud includes products that power virtual and hybrid events, webinars, online learning, and video portals for companies across all industries, including technology, financial services, healthcare and pharma, IT and professional services, retail and manufacturing. It also includes industry-specific video solutions, for the Education and Media and Telecom industries. For developers, it includes an extensive array of APIs and developer tools that enable them to build other video workflows, products, and industry solutions.

Products for Any Enterprise

Advanced video products that utilize on-demand, live, and real-time video to boost training, marketing, virtual and hybrid events, communication, collaboration, sales, and customer care.

Video Portal: Enterprise video portal that enables the creation and management of content across the organization, its partners and customers. Video Portals provide a rich media experience that drives engagement and interaction.

Virtual and Hybrid Events: Comprehensive event platform to create, manage and track every event of any size, internal or external, from smaller group gatherings, through larger town halls, to very large flagship conferences.

Webinars: Creation, management, and analytics for webinars, with automatically created branded mini-sites, driving interaction and engagement from registration to video-on-demand (VOD).

Online Learning: Self-paced on-demand learning with playlists, quizzes, and video paths and real-time group online learning with virtual classrooms that leverage analytics and interactive tools built for learning.

Education Solutions

Advanced video solutions that boost in-class and remote teaching and learning, and boost student engagement, interactivity, and performance.

Learning-Management-System (LMS) Video: Video galleries, video creation and virtual classrooms, seamlessly integrated into the LMS.

Lecture Capture: Scheduling, recording, and monitoring of any size lecture hall, including live broadcast.

Media and Telecom Solutions

Platforms for TV service providers and media companies to manage and distribute premium television content across devices, and boost reach, engagement, and monetization.

Cloud TV: Modular and scalable solution for building multinational streaming services that aggregate VOD, live, and linear content on any device.

Streaming Platform: Turn-key solution enabling launching, operating, and managing direct-to-consumer streaming service with low entry and operational costs.

API and Developer Tools

Tools for developers to create their own video workflows, products, and industry solutions. These tools also power Kaltura's products and industry solutions.

Media Services: Hundreds of media services APIs for live, on-demand and real time video, offering ingestion, transcoding, enrichment, management, distribution, engagement, monetization, and deep viewer analytics amongst many other capabilities.

Experience Components: Complete experiences ready to be embedded in any application. This includes the company's video player, video editor, video capture tool, and chat and networking widgets.

Technology

The company's business has been driven by constant innovation, anticipating trends ahead of other participants in the market. The company is one of the first organizations to recognize the importance and mission-critical nature of video experiences. The company's ability to be a leader in its target markets and rapidly introduce new applications depends on the constant expansion of its APIs, and the development of new products and industry solutions that rely on them.

The company's unique technology enables very large scale interactive video applications at a high level of reliability, performance, accessibility, scale and security. The company's cloud platform was specifically designed to address the entire lifecycle of media, how users interact with media online and the business models that support content monetization. With new AI technologies available the company plans to further expand its offering to include capabilities such as content enrichment and content repurposing.

Kaltura's platform natively supports live broadcast, real-time communications, and VOD playback. The platform also addresses other media types, such as audio files (e.g., podcasts) and images, including PDFs. The platform provides a complete digital experience within the site, built on the content management capabilities, that connects these different experiences and creates workflows and cohesive, engaging experiences for end users. The platform's flexibility and robustness enables creation of highly customized experiences at scale. With AI assistant, the company is able support users with automated advanced workflows that leverage real-time platform analytics.

The company's technology and platform are infrastructure agnostic, allowing it to also offer managed, hybrid, private and air-gapped deployment options. While the great majority of its customers are hosted on the company's public Software-as-a-Service (SaaS) offering, some customers are hosted on separate and dedicated private cloud environments that are also managed by it.

In its operations, the company receives, collects, stores, processes, transfers, shares and otherwise uses or hosts personal information and other sensitive information about individuals and other data relating to users of its offerings, its employees and contractors, and other persons. As a result, the company is subject to various data privacy and data protection laws, which are rapidly evolving and present increasing compliance challenges.

Partner Ecosystem

The company has built an ecosystem consisting of over 120 partners that have integrated with its solutions, and extend its products and platform capabilities with creation, AI, transcripts, and delivery capabilities. The company makes its partners' solutions available to its customers through its marketplace, complete with a variety of plugins and out-of-the-box integrations with its platform. This ecosystem further simplifies the company's customers' workflows, enabling them to weave video capabilities into non-video workflows and discover new technologies to further enhance their own offerings, ultimately increasing their satisfaction and stickiness with its platform. The company also maintains relationships with cloud partners, most notably Amazon Web Services (AWS) and Oracle.

Customers

As of December 31, 2023, the company served approximately 1,000 customers, including several of the world's leading brands across multiple industries, including financial services, high technology, healthcare, education, public sector, media and telecommunications. The company serves 28 of the U.S. Fortune 100, and more than 50% of the top U.S. research universities (R1 Research Institutions). Additionally, the company's solutions power 27 major global TV initiatives. Most of its top customers leverage several Kaltura products for a range of use cases across their organization.

The company's customers are global, spanning 54 countries, and during the year ended December 31, 2023, its technology reached end users in over approximately 200 countries. For the year ended December 31, 2023, approximately 56% of the company's revenue was generated from customers in the Americas, 38% from customers in EMEA and 6% from customers in APAC. The company has sold its products to customers of all sizes, selling to large global enterprises as well as more recently to SMEs.

As of December 31, 2023, the company's customer base included 301 customers with annualized recurring revenue (ARR) greater than $100,000 and 26 customers.

Competition

The company's main competitors for Video Portals are Microsoft and Vimeo. Its main competitors for Virtual & Hybrid Events and Webinars are Zoom, On24, Cvent and Notified. The company's main competitors for Online Learning and Education are Zoom and Microsoft. The company's main competitors for Media and Telecom Solutions are Mediakind and Synamedia. Its main competitors for API & Developer Tools are the media services offered by AWS and Microsoft.

Sales and Marketing

The company sells products for virtual and hybrid events, webinars, online learning, and content portals for large enterprises and small and medium enterprises (SMEs), across all industries, including technology, financial services, healthcare and pharma, IT and professional services, retail and manufacturing, and more. These products are typically bought by CTOs, CIOs, and heads of Learning and Development when used for internal events, communication and collaboration, training and learning. CMOs are typically the buyers for marketing programs, such as webinars and external events.

The company also sells specialized video industry solutions. The company has offerings for the Education and Media & Telecom markets. In Media and Telecom the buyers are typically the CTO or CEO. In Education the buyers are typically the CTOs or CIOs of educational institutions or of education-technology companies.

The company sells its APIs and Developer Tools to all of these markets, either along with products and industry solutions, or separately from them. Buyers are typically the CTOs.

The company's sales organization is primarily comprised of direct sales and account teams that focus mainly on acquisition, retention, and growth of large customers, including Fortune Global 2000 organizations.

The company applies different sales approaches to the different segments it targets:

Sales and Accounts: The company uses high-touch Outside-Sales methodologies to target Global 2000 companies with its Enterprise products, TV operators and media companies with its Media and Telecom industry solutions and universities, K-12 institutions and Ed-Tech companies with its Education industry solutions.

Commercial Sales: The company uses high velocity Inside-Sales methodologies to sell its low touch enterprise products to mid-market accounts.

Self-Serve/Digital Acquisition: The company uses digital acquisition sales methodologies to target small businesses with its no-touch offers.

Business Development: The company establishes strategic partnerships with the world's top tech firms, integrators and value-add resellers, to cater to their advanced needs and to establish co-sell, re-sell and OEM relationships.

The company's marketing efforts are focused on creating preference for its brand, and driving leads to Kaltura through thought leadership, participation in industry events, analyst and press coverage, customer referrals, community work, customer user groups, and Kaltura produced customer and industry events like Kaltura Connect and Kaltura Virtually Live. The company also leverages digital campaigns and make free trials available for many of its products to drive engagement and conversion.

Intellectual Property

As of December 31, 2023, the company owned nine issued U.S. patents and eleven non-U.S. patents and patent applications. The issued U.S. patents are expected to expire between 2028 and 2035.

The company pursues the registration of its domain names, trademarks and service marks in the United States and in certain locations outside the United States. To protect its brand, the company files trademark registrations in the United States and in some other jurisdictions. As of December 31, 2023, the company owned five registered trademarks in the United States and three registered trademarks in foreign jurisdictions, including the European Union and Brazil that it considers material to the marketing of its products, including the Kaltura name and logo.

Seasonality

Historically, the company has experienced seasonality in bookings and collections from customers within the education market, with a pattern of higher sales and new academic customers in the second and third quarters of the year as a result of school procurement periods, resulting in lower sequential sales and customer growth in other quarters of the year. The company also experiences increased usage by these customers during periods when school is in session, leading to higher cost of revenue during the first and fourth quarters of the year (year ended December 31, 2023).

Research and Development

The company's research and development expenses included $52.4 million for the year ended December 31, 2023.

History

Kaltura Inc. was founded in 2006. The company, a Delaware corporation, was incorporated in 2006.