KALTURA INC
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
KLTR$1.40-2.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
KALTURA, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
| Year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(46,366) | $(68,495) | $(59,351) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 4,717 | 2,707 | 2,412 |
| Stock-based compensation expenses | 29,980 | 23,645 | 17,065 |
| Amortization of deferred contract acquisition and fulfillment costs | 11,669 | 10,865 | 8,075 |
| Change in valuation of warrants to purchase preferred and common stock | — | — | 15,046 |
| Non-cash interest expense (income), net | (1,023) | (146) | 331 |
| Non-cash expenses with respect to stockholders’ loans | — | — | 882 |
| Loss (gain) on sale of property and equipment | — | 185 | (757) |
| Loss (income) on foreign exchange | (728) | 1,424 | — |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in trade receivables | 5,475 | (11,277) | (1,057) |
| Decrease (increase) in prepaid expenses and other current assets and other assets, noncurrent | 648 | 429 | (2,299) |
| Increase in deferred contract acquisition and fulfillment costs | (6,561) | (11,558) | (18,051) |
| Increase (decrease) in trade payables | (5,884) | 3,132 | 3,886 |
| Increase (decrease) in accrued expenses and other current liabilities | 797 | (1,937) | 3,756 |
| Increase (decrease) in employees and payroll accruals | (2,233) | (3,743) | 2,352 |
| Increase (decrease) in other liabilities, noncurrent | 443 | (51) | (675) |
| Increase in deferred revenue | 1,626 | 7,465 | 6,275 |
| Operating lease right-of-use assets and lease liabilities, net | (863) | 527 | — |
| Net cash used in operating activities | (8,303) | (46,828) | (22,110) |
| Cash flows from investing activities: | |||
| Investment in available-for-sale marketable securities | (47,708) | (60,165) | — |
| Proceeds from maturities of available-for-sale marketable securities | 51,976 | 18,985 | — |
| Purchases of property and equipment | (2,607) | (1,218) | (1,876) |
| Proceeds from sale of property and equipment | — | — | 757 |
| Capitalized internal-use software development costs | (1,493) | (4,759) | (3,978) |
| Investment in restricted bank deposit | (1,751) | (2,600) | — |
| Purchase of intangible assets | — | — | (145) |
| Net cash used in investing activities | (1,583) | (49,757) | (5,242) |
| Cash flows from financing activities: | |||
| Proceeds from initial public offering, net of underwriting discounts and commissions | — | — | 160,425 |
| Payment related to the conversion of Series F redeemable convertible preferred stock upon initial public offering | — | — | (1,569) |
| Proceeds from long-term loans | 3,500 | — | 41,915 |
| Repayment of long-term loans | (4,500) | (3,000) | (51,833) |
| Principal payments on finance leases | — | (136) | (1,717) |
| Proceeds from exercise of stock options | 1,383 | 2,732 | 1,335 |
| Payment of debt issuance costs | (274) | (125) | — |
| Payment of deferred offering costs | — | — | (5,188) |
| Net cash provided by (used in) financing activities | 109 | (529) | 143,368 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 728 | (1,424) | — |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $(9,049) | $(98,538) | $116,016 |
| Cash, cash equivalents and restricted cash at the beginning of the year | 45,833 | 144,371 | 28,355 |
| Cash, cash equivalents and restricted cash at the end of the year | $36,784 | $45,833 | $144,371 |
The accompanying notes are an integral part of the consolidated financial statements
KALTURA, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
| Year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental disclosure of non-cash activity: | |||
| Purchase of property, equipment, internal-use software, and intangible asset in credit | $43 | $355 | $1,106 |
| Lease liabilities arising from right-of-use assets | $— | $23,712 | $— |
| Capitalized stock-based compensation cost | $845 | $296 | $— |
| Pending proceeds from option exercises | $79 | $227 | $— |
| Lease incentive recognized as leasehold improvements | $4,924 | $1,711 | $— |
| Conversion of warrants to common stock upon initial public offering | $— | $— | $70,677 |
| Conversion of convertible and redeemable convertible preferred stock to common stock upon initial public offering | $— | $— | $161,261 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for income taxes, net | $4,294 | $8,873 | $2,636 |
| Cash paid for interest | $2,953 | $2,301 | $1,944 |
| Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet | |||
| Cash and cash equivalents | $36,684 | $44,625 | $143,949 |
| Restricted cash included in other assets, noncurrent | 100 | 1,208 | 422 |
| Total cash, cash equivalents, and restricted cash | $36,784 | $45,833 | $144,371 |
The accompanying notes are an integral part of the consolidated financial statements
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