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kaltura Kaltura Announces Financial Results for Second Quarter 2021 August 18 , 2021 NEW YORK , Aug. 18 , 2021 ( GLOBE NEWSWIRE ) -- Kaltura , Inc. ( " Kaltura " or the " Company " ) , the video experience cloud , today announced reported financial results for the second quarter ended June 30 , 2021 , as well as outlook for the third quarter and full year 2021 . " The continued acceleration of our year - over - year subscription revenue growth to 46 % in the second quarter of 2021 was fueled by our strong and steady sales force productivity and increasing net dollar retention rates , " said Ron Yekutiel , Co - founder , Chairman and Chief Executive Officer of Kaltura . " This is a result of the growing dependence of organizations on video communications and workflows for their internal operations , for engaging customers , and increasingly for powering their core offerings . After years of investment in our platform , products , and solutions with a limited increase in go - to - market spend , we are now excited to build on our broad product and tech foundation and materially expand our sales and marketing efforts and initiatives . We look forward to continuing to build shareholder value as we execute on our mission - to Power any Video Experience , for any Organization ! " Second Quarter 2021 Financial Highlights : • Revenue for the second quarter of 2021 was $ 41.6 million , an increase of 45 % compared to $ 28.7 million for the second quarter of 2020 . • Subscription revenue for the second quarter of 2021 was $ 36.5 million , an increase of 46 % compared to $ 25.0 million for the second quarter of 2020 . • Annualized Recurring Revenue ( ARR ) for the second quarter of 2021 was $ 145.4 million , an increase of 46 % compared to $ 99.6 million for the second quarter of 2020 . • Gross profit for the second quarter of 2021 was $ 26.0 million representing a gross margin of 62 % compared to a gross profit of $ 18.0 million and gross margin of 62 % for the second quarter of 2020. Gross profit for the second quarter of 2021 includes the impact of $ 0.2 million in stock - based compensation expenses and $ 0.2 million in amortization of acquired intangible assets . Gross profit for the second quarter of 2020 includes the impact of $ 0.1 million in stock - based compensation expenses and $ 0.2 million in amortization of acquired intangible assets . ● Operating loss was $ 5.8 million for the second quarter of 2021 , compared to an income of $ 1.1 million for the second quarter of 2020. Operating loss for the second quarter of 2021 includes the impact of $ 4.2 million in stock - based compensation expenses and $ 0.3 million in amortization of acquired intangible assets . Operating income for the second quarter of 2020 includes the impact of $ 1.1 million in stock - based compensation expenses and $ 0.3 million in amortization of acquired intangible assets . • Net loss was $ 2.7 million or $ 0.37 per diluted share for the second quarter of 2021 , compared to a net loss of $ 11.0 million , or $ 0.56 per diluted share , for the second quarter of 2020. Net loss for the second quarter of 2021 includes the impact of $ 4.2 million in stock - based compensation expenses , $ 0.3 million in amortization of acquired intangible assets , and ( $ 5.9 ) million in income from remeasurement of warrants to fair value . Net loss for the second quarter of 2020 includes the impact of $ 1.1 million in stock - based compensation expenses , $ 0.3 million in amortization of acquired intangible assets , and $ 10.6 million in expenses from remeasurement of warrants to fair value . • Adjusted EBITDA was $ ( 1.0 ) million for the second quarter of 2021 , compared to adjusted EBITDA of $ 3.3 million for the second quarter of 2020. Adjusted EBITDA excludes stock - based compensation expenses , the amortization of acquired intangible assets , depreciation expenses , financial expenses / income and the provision for income taxes . • Net Cash provided by operating activities was $ 0.9 million for the second quarter of 2021 , compared to $ 2.8 million provided by operating activities in the second quarter of 2020 . Second Quarter 2021 Business Highlights :