The Israeli video management systems company Kaltura will issue on NASDAQ. Last night, the company submitted a draft that would be valid to the American Securities Authority, according to which it intends to raise about $ 100 million from the public. The offering is expected to be valued at $ 1-2 billion, according to market estimates. To date, the company has raised about $ 160 million, with prominent investors including Intel, Goldman Sachs and Nokia.
Cultura reveals a net loss in 2020 of $ 38.7 million – its doubling compared to 2019, in which Kobo is attributed to $ 27 million in financing expenses, 2.5 times more than $ 11 million a year earlier. Revenue in 2020 totaled $ 120 million, 24% higher than last year. The annual operating loss was $ 8.1 million, while in 2019 it was $ 2.8 million. EBITDA was positive at $ 4.3 million, similar to the 2019 figure.
Kaltura’s growth in the past year comes against the backdrop of the corona crisis that has led to a surge in businesses’ use of video solutions. During this period, the company showed consistent quarterly growth, with revenues in the fourth quarter of the year totaling $ 35 million – 30% higher than in the third quarter of 2020.
The company is active in two segments, one is organizations, including education bodies or technology companies – these are responsible for two-thirds of revenues, while the other is the media sector and telecom companies. Kaltura’s products are used for video calling, video streaming, intra-corporate video platforms for employee use and more.
Kaltura was founded 15 years ago by Ron Yekutiel, Michal Tzur, Shai David and Eran Itam, with the latter two no longer working for the company. The company currently employs about 600 people in 22 countries.
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