Kaltura Inc. Common Stock (KLTR)

FairStock Score: 33/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Graham-style investor, I start with the record and the balance sheet. Kaltura is a video SaaS company with FY2025 revenue of $180.9M, but it reported net income of -$12.1M in FY2025, after -$31.3M in FY2024 and -$46.4M in FY2023. The annual loss is narrowing, which is a genuine positive, and in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $46.9M and net income was -$5.5M, or diluted EPS -$0.04. Still, the supplied Lynch category is none because it lost money in each of the last four years; no category fits a company that has not yet earned a profit. The quality evidence is mixed. Trailing free cash flow is $10.3M, a 4.8% FCF yield on the $213.6M market cap at the 2026-10-26 close, so cash generation exists. But FairStock's calculations at that close show P/E -17.50, P/B 140.00, ROE -134.25%, ROCE 0.60%, EV/EBITDA 304.91, Piotroski 3/9, and Altman Z -3.43. The FairStock Score is 33/100. Those are not the marks of a durable moat or a margin of safety. Negative earnings make P/E meaningless, and a 140 P/B leaves no book-value cushion. The $1.40 price may look low, but a low absolute price is not the same as cheap. I would need evidence that revenue is stable and losses are converting into durable owner earnings before calling this a value opportunity.

In plain English: Kaltura sells video software that businesses and schools use to create, manage, and stream video. The business is still losing money and has weak returns, although it does produce some cash. At $1.40 a share, the price does not look clearly cheap against its numbers and looks very expensive compared with its accounting value.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer