Kaltura Raises 2026 Guidance for Third Time, Sees Adjusted Operating Profit of $19.5 Million to $20.5 Million
Key Facts
Kaltura raised its 2026 financial outlook for the third time, setting annual total revenue at $185.0 million to $185.7 million, subscription revenue at $179.0 million to $179.7 million, and adjusted EBITDA at $19.5 million to $20.5 million. The company announced the revision in its third-quarter earnings release dated November 9, saying the new ranges represent record annual results. The guidance increase covered subscriptions, total revenue and the adjusted profit measure, alongside quarterly revenue growth. Third-quarter total revenue was $47.3 million, up 8% from $43.9 million in the corresponding period of 2025. Subscription revenue also rose 9% to $45.9 million from $42.0 million a year earlier.
Compared with the previous guidance, the improvement was more pronounced in the adjusted profit outlook. In guidance issued with its second-quarter results, the company put 2026 total revenue at $183.0 million to $185.0 million and adjusted EBITDA at $15.8 million to $17.2 million. The new revenue range starts at the previous range’s upper end, while the adjusted EBITDA range rose to $19.5 million–$20.5 million. The third revision of the year also covered subscription revenue, which the company expects to reach $179.0 million–$179.7 million. The release did not provide a documented comparison with analyst estimates, so the reported figures focus on the company’s results and financial outlook.
In operating performance, annual recurring revenue totaled $184.7 million in the third quarter, up 9% from $169.1 million in the third quarter of 2025. Segment results show differing sources of growth: revenue from enterprise, education and technology rose 14% to $36.9 million from $32.4 million. The company attributed the increase in this segment mainly to a $5.4 million rise in revenue from new customers, offset by a $0.8 million decline in revenue from existing customers. By contrast, media and telecom revenue fell 10% to $10.3 million from $11.5 million, with the filing attributing the decline mainly to lower revenue from existing customers. The company’s release linked the segment’s weakness to the continued impact of elevated gross customer churn during 2025.
Kaltura said new subscription bookings in the third quarter more than doubled from the previous quarter, making it the strongest quarter for bookings since 2024. The company said activity included 3 new seven-figure deals. After the quarter ended, it announced Project 720 with Israel’s Ministry of Education, an initial one-year pilot program for learning in science, technology, engineering and mathematics using artificial intelligence. The project targets approximately 2,000 students in 20 middle schools. The initiative adds an example of the commercial activity announced by the company, while growth in enterprise, education and technology coincides with a decline in media and telecom.
On profitability, the company posted a GAAP net loss of $1.5 million, or $0.01 per diluted share, compared with a loss of $2.6 million, or $0.02 per share, a year earlier. Cash, cash equivalents and marketable securities totaled $41.0 million at the end of the quarter. Operating activities generated cash flow of $7.6 million, compared with $9.3 million in the third quarter of 2025. These figures put the accounting loss and cash flow in the context of the new adjusted profit outlook, which is a measure separate from net income under accounting standards. The company did not provide figures showing that earnings or revenue exceeded market estimates.
KLTR shares closed at $1.43 on November 9, down 5.92% during regular trading, then rose 11.19% in extended trading to $1.59, according to Investing.com. In its filing with the U.S. Securities and Exchange Commission, Kaltura said it had approximately $25.3 million in outstanding borrowings under its term loan facility as of September 30. It added that it expects to refinance or extend the credit facilities before they mature in December 2026. Upcoming events listed on its investor relations calendar include the company’s participation in a one-on-one meeting during Needham’s Virtual Technology Week on November 18, 2026. The company also provided fourth-quarter guidance, expecting revenue of $46.2 million to $46.9 million and adjusted EBITDA of $2.0 million to $3.0 million.