Kaltura (KLTR) 6 Nov 242024 Q3 Earnings call transcript

Greetings, and welcome to the Kaltura Third Quarter 2024 Conference Call.

As a reminder, this conference is being recorded. [Operator Instructions] It is now my pleasure to introduce your host, Erica Mannion, Kaltura's Investor Relations.

Thank you, operator, and good morning. I'm joined by Ron Yekutiel, Kaltura's Co-Founder, Chairman, President and Chief Executive Officer; and John Doherty, Chief Financial Officer. a September the a XX, with third for business begin ended quarter XXXX, will summary results of the update. Ron and provide third greater then of fourth company's quarter will review year financial the for John XXXX. full the outlook for XXXX followed detail, the in and by the results quarter

limited the neither developments Kaltura's securities the questions. call. are be including new quarter forward-looking differ EBITDA then Please adjusted future to the will filings, questions, the including update within risks or We SEC. assumes as non-GAAP on we laws, otherwise, statements or this statements by and differ and Form this based from on XX-K be report with SEC as and and Please found this but forward-looking a of XXXX, be a are to cause Risk of note, of current except Kaltura that Important management's no uncertainties financial results for those and quarterly XX-Q call, revise your regarding as from open filed plans business. could during meaning obligation will expectations actual today, here. made federal statements fiscal and section report result to, them, note law. financial discussing whether results measure, XXXX, required XX, for forward-looking to call for Form conference discussed the on September for the the responses expected other can XX, cause nor ended annual to Any promises These December including, the of not include Kaltura's materially factors in statements call guarantees expectations will statements to that Factors results involve that may actual the ended during year

at www.investors.kaltura.com. measure available a our to comparable website most which on earnings metric, is release, non-GAAP of this directly the For please our reconciliation to financial GAAP refer

am I to pleased Ron. Now call the over to hand

total and quarter, the revenue quarter to RPO. quarter up a In XXXX you, also today of up of our for we revenue ARR subscription welcome, the reported and record second million, million, for We third quarter consecutive record $XX.X Thank third year-over-year. third X% record year-over-year $XX.X well the Erica, posted everyone, X% as earnings as call. of a

by guidance of EBITDA posted $X.X margin. As bottom results, of the XXXX, $X.X the $XX.X we the for fourth these of also quarter in consecutive adjusted In the for significant of full we're operations representing gross XXXX. the the of since part year record year expecting in and quarter flow result light well operations to quarter, million, third post our and our revenue flow as full a are adjusted record our XXXX. third million from quarter, positive a cash and the EBITDA adjusted second In once improvement in of as increasing quarter again from third million, in a line, quarter profitability we from fifth highest in fueled EBITDA cash generated

across industries, geographies. deals to quarter cases growth at were update. new of use the and highest business X-digit subscription came year-over-year X-digit the diverse in since the both posted XX third and sequential level on and These XXXX a bookings the Moving for In the we quarter. array consecutive X bookings from and fourth second new deals quarter, of

learning our company our on-demand from providing that Kaltura to our interest around webinars example, marketing, Fortune across also which now monetization using internal providing S&P providing experience Europe virtual to live and virtual fueled company discovery multiple is cases, be and a to New college, XXX management including, and success use new to entertainment health is internal from and events that TV and system customers solutions company was a quarter. subscription sales by for care which automotive customers now to communication included a at leading communication and increased North external and and insurance additional an sales to also and and that to evident manufacturer a an new entertainment our training our engine using monetization. a internal using leading that revenue marketing, average U.S. solutions leading majority health Fortune platform employee the and leading powering for our certification and training music in for for universities is certification collaboration, consolidate software and streaming webinars to XXX again and portal video and to third and company, solutions to continue our XXX provider is increased an collaboration cases development, telcos. XXX visual providing provider content now top-ranked the customers, and high per providing success, from came and and bank through to of use a a solutions platform Fortune of for a Upsells existing from events in customer now bookings is American our teaching, customer, an all-time a solutions customer The and for using tech

quarter the stated retention net of the rate for is fueling to quarters with back quarter X XX% and continued reacting after XXXX, consecutive new to to year-over-year quarters. subscription X new The which yielded recent bookings, growing bookings, posting in bouncing of to revenue growth. last past, pickup year-over-year second time which, XXX% indicator, started a in retention, combination net our the of year-over-year XXXX increase subscription lagging retention in and a since the dollar the is improve increased gross has as first continued the subscription the addition in third improvements, In gross in gross new bookings improved we

or widget events enhance and with Martech webinars and further enabling with directly e-mail platform, their via continued front, partner scheduling customers our integration automation marketing marketing and in we a third-party collaboration boosting the chat Kaltura. product in quarter, to their run On and the automated third preferred our

content launched content our integration security and our and room with platforms platform, multiple We video other our offer of unified TV tools across leading and content using in protection accessibility, workflow. side, now together as integrations, On with conferencing access, in Microsoft layout around with management operator the a a Webex that Teams part and share archiving comprehensive our our Zoom enables video seamlessly and and commitment we for video organizations and further to our conferencing and portal management solution completed updated player an enhanced manage flexibly these capabilities continued to cloud subscription enhanced VPA workflows.

be front, created modified On move of to the are seamlessly content individual video AI we each where the viewer. future benefit a and continuing towards for will

Over Kaltura used the create was prior videos data to time interactivity immersive system engagement adding in a productizing at context This we viewership clips, time are a Gen at heightened fraction Content in that the and quarters, the contextualized. and into new end wants called by started real to Lab. current new to other and AI our individual costs. and video this pilots designed functionality component we engagement right achieve the hyper hyper-personalized quarter, boost time captions results experiences In third and content conducted user of and functionality to management highlight and successful content repurposing, it and analyze for where address existing business and of reels is needs video

in metadata XXXX and for also Conference titles, at streaming, for AI-generated offerings dubbing, beta Amsterdam. content Among excited version for to top prospects content. presented enrichment, VOD media of showcased the chaptering, telecom customers We and a user-generated recommendation IBC our highlights the features and GenAI live assets and

Kaltura Lab generator, product Gen plan portfolio, developments for AI our and engine, integrate quarters, to streamlining further sentiment analyzer, as few next engine it our including our Content other notification transcription the assistant such quiz Gen enhance Over events. we with and AI into

was Platform and product additional Award International XXXX Event the industry Solution Overall recognized Award Program receipt Digiday in Breakthrough Technology the Our X Best with Awards. Award Seventh the leadership awards, Best the in Martech Management Annual Video Management recently the of

to bottom-line We a record and are parameters. pleased line quarter posted top across many have

gross subscription in a uptick materially see revenue year, resulting an growth. in to last year-over-year continue that both and improves We subscription over and year-over-year new both growth in sequential rate retention bookings

downturn as In saw slower plan unlike cash and we from addition, to began was headwinds. flow, leading in companies year pressure improved in in well industry that purposeful revenue the and grow revenue every EBITDA has time many and proliferation well Kaltura expanding and services our despite are industry, see cash and macroeconomic the quarters our to order for beyond. entire third net increase gradually GenAI industry not induced strengthen of continue margin, revenue to accelerate also in adjusted have decline revenue cash operations post-COVID year-over-year expansion and as And us believe deployment flow tailwinds and with will only and industry a that product growth, and from forecast And about bring subscription and we by continued for trend summary, transformation the with to appreciate In as grown and flow total operations quarterly margin. economic the we bookings, to margins recent we we always since our fueled retention are further is our our turning the gross professional enhancements years, our while experienced in on like of year-over-year. of fact XXXX end, the that the our adjusted video in and we XXXX. and our quarter booking quarter In to the that gross continued experiences. do content EBITDA expected growth retention digital we margin first time XXXX, gross from recent exception on annual beyond, in To other continue strong revenue downward XXXX our of by renewed the and positive as tide

we ahead, We the are also platform mission-critical believe experiences the integrations caters since flexible workflows. with extendable tightest to their of opportunities uniquely providing Kaltura's the enterprise array video and about excited while especially widest

and expect learning, and and further experiences more to collaboration, of results turn avoid result We detail. the from single customers solutions, AI-infused boost point CFO, insights, silos, across broken over can it the to results. content consolidation communication that, customer our their and entertainment accelerate With and productivity unnecessary their as and and success, will increase Kaltura video that I'll Kaltura's financial monetization. recovers, our disparate to and business many customer data in that employee designed platform workflows, all our is teaching discuss customers gradually their and to sales marketing, and training, market help John, needs complexities and using costs engagement around of

touch XXXX. call the new run strong gross and QX achieving rate, and last quarter, retention third I Kaltura posting on the that bookings continued and on rate in quarter decline. preceding sequentially everyone include, customer improvement and addition continued to highlights opportunities high retention third and continue improve new similar years a quarter, further hello Gross sustained retention subscription both operating today. continued customers the year-over-year of in and highlights to subscription resources year-over-year the represented and existing of to towards monetization highest continued in year's quarter reallocation and annualized of Ron, in gross base grow the to Thanks, growth since The X demonstrate focused consecutive an in this. few markets. for higher new new to the bookings execution second the its efficiency ROI our want bookings,

quarters. Our year-over-year eighth grown has this revenue, year-over-year subscription of and in revenue growth, total in driven by strength our consecutive past which quarter all primarily

ARR operating the that, flow representing me With our in adjusted at let high results. we record profitability remaining consecutive and improvement both the quarter second and gross since of cash growth level, quarter. to expenses, the year-over-year from fifth performance margin highest belief with with are metrics and on move highest continued strongly a to operations to quarter reinforced targets achieve lower in Our that level positioned obligations date at record our and result the EBITDA, our positive a XXXX

million, $XX.X for for year-over-year, year-over-year. This our sequentially which what result million earnings last of obligations and million, end we range quarter $XX.X contributed up a expected to XX% our $XXX.X XX% adjusted in year-over-year next the above and $XX.X of million revenue over exceeded and sequentially our the was of to and X% of $XX.X well recognize high RPO Annualized XX XX% the increase million, to increased X% this revenue guidance in we trends $XX.X date up the revenue quarter $XXX.X second services high quarter was guidance expect as of was revenue results consistent revenue I X% our X% range Our year-over-year. as million. ended the increased This is improvement the to remaining Total renewal up subscription as recurring XX, year-over-year, revenue the and months. discussed was up for the mentioned end highest Professional bookings. both guidance with bookings the above is with Subscription also we was the EBITDA $XX.X were million. on new of X% achieved reflective quarter. performance in have is million for the million, The Consistent ARR call. revenue of down quarter, and quarter $X.X quarter. September XXXX,

third up the consistent driven million X Education million, the an was XXXX. net throughout our and by the our $X.X XXX%, in up on Within EBITDA total increase X% was was with while year-over-year. from expectations XX% and operating million, which XX% $XX operating was $XX.X with $XX.X gross XX%, for over million Technology subscription per XX%, $X.X quarters. Enterprise, a profile in year-over-year. XXXX. QX $XX.X quarter It Telecom Enterprise, year-over-year. improving sequentially has from and in for XX%, gross year-over-year. is in $XX $XX.X is earnings Total segment, improving EE&T the total QX margin gross gross the in while for half for in of revenue services past the result Media of was Adjusted in the of revenue for is our a Media gross Technology was Within services contributed year-over-year. XX% improvement from quarter gross second third segment, subscription revenue year-over-year, Education up increase the Telecom up previous quarter the reduction $X.X an X% highlights time. our is for in dollar and which was down up diluted the quarter and bookings gross year-over-year. XX% XX% the mentioned last XX%, sequential in retention which million, was Media of from were and improvement up sequentially our quarter $X.X XXXX, year-over-year the and of for an with was million, gross quarters contributed This on $X.X down margin and we segment, the the million down the efficiency was X% third also QX year-over-year. XX%, up XXXX. and profit is is X% was our continued million, million, decrease quarter net $X XXXX. revenue $X.X our X was and call. million, of loss XX% third XX% in up XX% the result, consistent negative share. up in profit X% margin or QX quarter along million X% improved quarter focus XX%, been improvement over from Telecom million profile, X% GAAP the QX subscription was XXXX new $XX and This revenue quarter from X which segment, sequentially million, compared X% the revenue was margin which third profit XX% Within up that and professional X% million, subscription margin third Subscription $X.XX expense expenses rate was second of Within XXXX, XXXX, QX down quarters. a to professional quarter quarter million, margin year-over-year. million GAAP X% Our third gross was $X.X This year-over-year. $XX.X and for for quarter XXXX, Subscription our from was retention Gross year-over-year,

marketable Turning generated mentioned the $XX.X significant We record reflects in a balance quarter cash operations with which We cash period compared securities. the quarter from and $X.X $X $XX.X million third year-over-year quarter third million last of the call. of XXXX, same that a ended and like improvement the in quarter, flow. second a outlook to sheet turn million consuming XXXX to during cash the of million earnings QX to in with I our we the collections highest operating expenses, on quarter, would from collections In ending XX, fourth lower $X.X well I our the for delay in operations XXXX. $X.X aided quarter, is from EE&T December the as customer to which quarters in in fiscal XXXX. now this Through by year, first compared $XX.X a million the million the quarter cash the million the for and last the the $X.X was primarily year generated in seasonality as segment, from a improvement. our third million large X payment of quarter to

As to for products we retention our on past, to expansion the with experienced pressure reduced lower-margin gross revenue deploy. throughout growth easier and subscription in mentioned our year-over-year driven professional that along XXXX, we into declines in was are by bookings, that services have new demand our faster and due

subscription return successive we stabilization third outlook With by a Last sequential improvement overall the towards recent the in revenue on quarters our quarters a followed quarter, brighter. gross of the retention growth. in quarter, and subscription new to is of increased bookings, X business guided in

we deployments faster surprised and on count We forecasted continued positive continued professional right decline lower-margin higher from services lower-margin in second. our gross professional services decline a see sequential the also revenue. in sequential one pleasantly a Well, did margins. on enabling benefits were We and with revenue

$XX.X However, than our our be fourth between the $XX revenue would revenue result the I and driven year we for growth now million. retention subscription and like end with and higher million was revenue by the In discuss approximately to $XX.X for up as results third revenue above quarter sequentially. and X% increased subscription of outlook $X XX, expect previous solid XXXX bookings. returned with with QX fiscal anticipated new XXXX. to revenue and fourth million to This million quarter, total subscription faster the $XX.X between December quarter guidance gross continued of XXXX ending as the well total our million and consistent

guidance adjusted We fourth between between quarter be $X.X the million, for full between $X.X total million to XXXX EBITDA compared expect expect million be million negative EBITDA adjusted $XXX.X $X.X the year, we million the Accordingly, to $XXX.X an $X.X million $XXX.X in range. would million. million and to million of subscription $X.X and the of be at between be the revenue and revenue to and to EBITDA midpoint of adjusted and $XXX.X million, be which improvement $X.X

are offerings. to consolidation negative drive workplace $XX.X a video-based believe from to and hybrid As for positioned XXXX. fourth to cash to well and in vendor, positive also $X.X as by company benefit to XXXX post as spend are quarter year as the our we the the well tailwinds in that Ron demand from continuing a continues supported a for we We and the XXXX be million negative million is full in transformation expecting in third results, single mentioned compared quarter operations seeing to digital of emerging as

results to improving believe we path As on into sustained these demonstrate we consistent target right and shareholders. revenue and growth are We to our the and returns and drive to XXXX quarter we objectives the move our both achieve continue of fourth profitability. to beyond,

close. adoption bookings, and by are we sustained encouraged our as our could highlighted the yield growth increase high in products, bookings rate industry we growing bring retention of in gross our that new increased our deals XXXX continued by tailwinds in pipeline to and believe a by We the

sustainable up accelerated modestly confident flow from a cash increasing We EBITDA and for profile. a adjusted sets this that are for 'XX us and growth also operations profitability profile

of report QX up XXXX. guidance questions. provide when the year With we'll XXXX XXXX call XXXX for full will that, we and in We open February for

first comes Instructions] Sachs. [Operator Borges Gabriela question Our with from Goldman

John, and had and of some seems Ron cleanest congratulations in quarters. results beat the you've raise on the like of a number that quarter. This

standpoint there to So, the would Ron, a your business are point incremental that hoping you call all driving or quarters? stability think you been in that you to you've Is to relative it, heavy X lifting now really I'm over comment. X X can that things X of from last, the doing company-specific

Thank Savers call towards can morning and on Gabriela, We've What this, been it's results. working good hard showing are say prepared. today. I to you, Lux the everybody and

is turning I around. think gradually the industry

increased in seeing continue you of definitely in always which the side. bit what's and climb could happening and to it grow. of a to other You this outperform give deliver vendors a happy and bit on We've against is from the and we're And able see success some industry, continued demand. continue being that we demand to business around to I'm color more good. outperformed,

you the did So, and deals. both we QX it's growth for row. in since year-over-year know 'XX, now bookings the highest do a We quarter second that new bigger have sequential had and

had deal quarter X X we quarter last none to in this compared X-digit QX. So, deals and

sequentially. we've better time financial do tech, but And you look most long more I health also customers companies. bookings we there, and regulated improve that, which term the around have from in bandwidth automotive, see tech the of say the Kaltura, new an XX year-over-year and better of last industry We've also see this because of think sense so quarter as bigger. If that, not saving go to people and We financially the strategy. I'd care, bit and and to seen times across and solution, after industries. come the more not deals, seen because had providing a They for most all said also is education. analysis one give at have consolidate to making the myopically forward also grew it we're success especially that continue costs services, and they're per expect services, X-digit mid professional We've solutions. industries, just We and to our been

still So be things financial the that we require. compared well absolute mentioned back was most health America, industries that Europe And and of after and came integrated as that an it then in the still will was and and QX. all it did because we geo insurance, well. like percentage well M&T, commercial booking the QX It on will compliance to connected will better would and from did care professional balancing. to quarter, regulated government, that, doing we're year be workflows be it They a detailed seeing and in that services. From year-over-year in services, be this basis compared Europe of basis education But to these folks North new a QX perspective, offer before. more it

platform. and And monetization. virtual from it definitely our but healthy communication collaboration EX and and So, perspective, a of management come content customer and We've across followed and teaching CX between video from blend use events seen also board. also per case again, and the certification the well. a core TV most externally, it was and it's by entertainment around and training looking Corp product From experience a then perspective,

were the increases. that doing we've The said other year we okay point that price note, in throughout I'd

able We're for and and to We maybe is. X/XX customers of maybe it ARR paid are premium to climb lastly, record the other had product, of as should players Xx we a this $XXX,XXX that. be and ARR. that And mentioned it. average We've some booking from year. about about to compared ARPUs It's show are at there price last up continue the continue quarter a also to we quarter increase same

real to significantly, continued more enterprise when a deals. and true year-over-year around XX%, Kaltura. than is it's And it's consolidation growing the think that, that about mean, tribute So, grew you I by

consolidation do one forward more I with in few And most not to the see have more last had jumps So, continued we and into for in customers NDR our one because serve pickup that's having think continued more logos. penetration, as the point ability from mean we're we only the looking hopefully another. to upsell and down new limited more to people slowed future, that these done years vendor and

of expect our that, fuel We growth. to see going to more that's

The for follow-up is John.

So, to this year your for early give will annual Talk revenue think applying a Ron was of us forecasting. you're with margins dynamics talking the XXXX. about first Any for XXXX. up coming that and to planning about color bit how and on forecast XXXX growth Kaltura with XXXX you're the for framework to a be to for for willing your all about process little how maybe just

a and joined, couple profitability. as direction. I it company do fourth things bit, a the a of areas grow the when consistent touched of And is question and Sure. the focus it. is mentioned, which, of customer for said, in And in up. ours some on The very tackling. sounds setup, quarter. in to guidance ultimately, appreciate of of the I quarter which this past us, we we course the of a that value it our just our but be going bit basic been It's on year, we're full it's continued, terms blocking dissecting year about executing opportunities That a and I that also and been us products what I and doing before the Expenses this February a have additional 'XX, from sets by some revenue. Hence, profitability a like moving XXXX. increases and comment. to because performance doing we're that of we've Adjusted I'll continues think We've we a to doing my of down. little tackling. consider which basic company and terms our price customer and what's are leave but what is drive over started for company of deeper seeing in one targeting the as blocking profitability provide typical brighter for we're we'll where Hence, right comment driving overall, we'll The around well call on the at forecast us that's well. and general Ron up EBITDA is bit of

of have In if And operating is some million year-over-year, realigned OpEx that addition, in sequentially. $X expenses. continue million our you path. we down to we workforce, $X has driven better also will, expect to additional go which improvement

we're for profile. going XXXX, as think profitability growth improving and modestly a we have So, mentioned, we to

question from with Canaccord next Our Hynes comes Genuity. DJ

that quarter actually digits. dollar-based you comments. start bookings I'll we Ron, to echo alluded Gabriela's your could there Maybe the Congrats nice see the to triple something retention in and nice Gabriela. answer to, on net in back and

majority you the like? in how or to of new noted important the with were here? of I think the cases existing And for growth What's sustainability look expansion customers. renewed customers use is quarter new from that pipeline So, the bookings,

I DJ. appreciate Thanks, it.

was moment, full levels that part high a it's expected which And from on companies in retention in quarters, have said and for the last customers outlier, the we've posted current gross we've and dip this third that core materially is different focus ones. that the year. than and Let that comment some seen gross single Not seen industry in me to the we've existing first same mention few the quarterly metrics also an our for at our quarter in that in higher gross the in even first us was improved quarter 'XX. seen other year and in similar been with 'XX, belief, upsells, one that especially year last and to of XXXX our about to forecast at retention 'XX. retention be the bad NDR bigger taking which care has We the

very gap a lost a as gross or it had only to it's of so Most a been the a of the good that like churn rebound and better product than associated service So, downsells the MRR full certain piece tune other of from it to churn, And perspective with continues. small been have partial, been years. has opposed XX%.

limitations, is needed, services it no still are most So, of cetera. et longer product budget that

vendor glad future. given to of to new quarters obviously, last have expect given between continue improvements and to something had in expect will in good It's associated we about folks time, up, that in seen longer And linear your a thoughtful rebound The a were that about and XXX% did expect I very again the north to different grow. times bit continue that said to picking to choppy. go up. growing and not are continue we've some are these it but you to effort, we took question that's NDR lot It's so, a up that in see we the go as of way, the into risk, bookings altogether. budget To moving is earlier, XXX%, logos, that we with a some trend the reason, and

midterm. stay discounts, less was costs to willing good. as in And when can you to were if a product consolidated save the more rather even to you not more like vendors successful, would existing they And because also, Kaltura, when the provide so, was expensive if them with move some vendor it extent

from last they better been solution heard solution on in few our That time affordable the and to we've term. many right Now And said mid more are had long case waiting this. over the years. the the for we're in they execute that to interested

A pipeline them of a are of discuss are cycle. A the these that. So seeing to in are now happen in lot quarters. active within these next few of we're and lot lot our discussed

see expect to we So, more.

market. and rebound. talk happens, that, thoughtful we about know, not to added We will expect a show-me to the about as a wait future That a is you how very growth are market, back forecast. being and bring into as company us we we, for the said, let's see but see we And tell be growth the how XXX% material going company, a to things it's believe right believe that to be we what that that that's a would And this us. me

know folks opportunities, that about? you've should should be of? mean, of to now Ron, are those I sense. makes as That's we Anything any but got implemented those color. helpful Maybe on I product force. larger new That sales focusing changes else responsibilities. new new follow-up, the thinking or Are not there you've talked about be roles. Obviously, have a verticalization to the leaders and in Kaltura, contemplating we aware sales lead

for extent, amazing not have yes, and of all, they're the long first an to doing new, been been but around time, accepted extremely So, company new they to some have, a another and we extent, to well have are and job.

that Revenue CEO sales. was coming data from company. BI background Officer engineering analytics, and an have lead We last to He's as moved Chief we and AI from has of And from quarter, to and a that Navi remind our lot of tech. a and also product everybody, said Navi's enterprise when

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a push I And it's data, internally their state harmonizing ones and And we that continue huge want is we reason opportunity. the a down deep the that are very when that's not So, are clearly, all are change, but workflow, the the the is external to to and back and company. in into doubling we it integrated forward. think

the and the the best to the prompt power. way order can we So, we in which in also system generate LLM experiences

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down the had into deep doubling and all we're we before. So, going initiatives

no more excited. of news, what you've lot but a So, before, we're seen and

Our comes next Ryan Needham with Koontz & from Company. question

see value Congrats on logos, are the a these great nice about applications are cetera? talked Can real is where little these results. cases of and unpack et in a the Really couple your of Maybe bit versus customer use you that of new in of the to what you can terms either, some renewals terms Ron. in vertical, tech this. maybe you that unpack there strong

to that. Happy do

and that cases the So cater market. of array we we in products, Kaltura again, beauty array the use the have to of widest the of is widest

otherwise. we've content enterprise, portals our run user content to of that So, as all the the system both been enterprise gatherings internal from perspective, content, well enabling product which, a and and are have of both at external the the underlying are selling and management top what level, VCMS, video generated on video as the creation we across

offering way for events marketeers very and both We has of trainers. in have was webinar down that events engaging power thousands and for large the events and originally come to a highly

for enables product pervasive prepare teaching employees, well these or that places trainer specializing the virtual real-time internally the have room they we and have the before, customers learning as partners, purpose after, in and and where nonsymmetrical shine. and these where as We that is meetings the a for this for classroom teacher has and during

and people see one is generally have the also course, media our integration telecom both CMSs to into that And LMSs and of have start schools organizations. move and for with we What We suite. and we another.

content and collaboration move management And video want And throughout teaching, the they and a both. it's go use sometimes to employee internally and seeing or and related, and case Sometimes if externally and learning experience they from perspective, internally it's then either have we're they the both. development. portal communication

webcasting offer store to with communication with the ability have want classic look, manage unified and in today. that capabilities conferencing teams we record, come in this in of So, By and or together together and more that together. all unified just some stuff solutions than to quarter people tool That's added the the does all of Webex, manage our advanced meeting and collaboration. say, to have also a it's Zoom more the way, record we a and system

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Walravens question Our from JMP. with Patrick next Citizens comes

Great, let growth is see. and to nice particularly add me my congratulations. The RPO

questions. for have you think as Ron, I Usually, year come X of you, nice the deals So, X-figure end see the in to phenomenon. QX. that an of

in going the still So it? there forward? Are X-figure pipeline how look things does

sometimes for QX, versus QX, and pipeline to I Yes, land there mean And and them does we're QX. varies have thank hoping continue to beyond, X-figure our in yes. QX sometimes bunch it of deals, you QX yes, are. a noting

it for resources I be you, resources noticed of the where what script, reallocating interesting and examples thought see John, did your in investors you how -- you to would word comment you some for then, higher I And return places from opportunities. you them? I it, a really made the some forget to took about of were put

is, that profitability. themes results, our at of we've and Number focusing themes. look the X on you If really customer about revenue one one, talked

increase and use we've opportunities, process So of to from resell where regularly, the been specific we and team some able benefit target on price out that. works we have that ultimately, opportunities that we to information a that of a comes have that

been success part we've have thing very think focused the customer saw landing we addition, we and deep and organization. this I our ultimately, In about profile. one on of customers, It's really some underappreciated sales And a quarter, across of it that the it aligned we're within supporting sales a expect ability investment. we go And existing and very much bit a our in continue, focus is to quarter, shift team. of and certainly, also takes and customers, with last deeper to

add my Let again. congratulations me

about John opportunities lot growth. hopeful word a do and say I'd it And us. add to in bottom growth and the Pat. has a focus you, And I top multiple continued as for is we've big the referenced grow because about spoken line. like to that company. the really to of answers, that we're has and because important line Thank going a times just and upside said and want his some We're of John an this bottom

grow. margin You've seen gross

and continue to to and are to We both. line doing bottom continue expecting we our grow, that happen, to expect we're

to on and that support the carefully flow very goes looking the if are I that fully and And obviously we're that. and to entire what we in where so, cash company towards do and committed next achieving beyond. And And well. as quarter

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trend any flows, of one cash increased profitability beat take the statements wouldn't versus we're I going So, here is them increased one these and to to post continue that an for But a increased QX QX. of general growth.

Instructions] [Operator

Anything else?

at this time. It questions appears no are there further

for So, the Ron to I closing over comments. Yekutiel would to now back floor turn like

it. appreciate I Yes,

bring maybe lot a divides day upward. ahead in work together nation execute yes, of making are onward now we we about as I aside. do feel word quarter, especially to the everybody the time, things we that is like and and coming a hard good put more to And everybody to to and again, us, special our down So appreciate this. U.S., a be, heads there's one just in feel but continue

at Kaltura and putting we together people and and the tech as collaborative definitely forefront open, an of flexible I the think are way. in industry collaborating

the a care. beautiful you. to Have and a Take industry. great and onward to upward week. Thank and So us day

teleconference. This today's concludes

time. You Thank at you for your lines may your participation. disconnect this