Today, Kaltura Inc., a company specializing in prepackaged software services, announced the results of its Annual Meeting of Stockholders, which took place on Monday. The meeting saw the reelection of two Class III directors and the ratification of the company’s independent auditor for the upcoming fiscal year.
Shareholders voted in favor of Shay David and Naama Halevi Davidov, who will continue to serve as Class III directors until the 2027 Annual Meeting of Stockholders. The vote count for Shay David was 109,678,618 for and 4,581,093 withheld, with 11,677,487 broker non-votes. Naama Halevi Davidov received 110,398,678 votes for and 3,861,033 withheld, with the same number of broker non-votes.
Additionally, the appointment of Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global, as Kaltura’s independent registered public accounting firm for the fiscal year ending December 31, 2024, was ratified with 125,848,398 votes for, 81,501 against, and 7,299 abstained.
The meeting had a significant turnout, with approximately 85.72% of the outstanding common stock represented.
The information provided in this article is based on a recent SEC filing by Kaltura Inc.
In other recent news, Kaltura, a leading video cloud platform, has reported positive developments in its Q1 2024 earnings call. The company demonstrated financial growth with a 3% increase in total revenue to $44.8 million and a 2% rise in subscription revenue to $41.2 million. Kaltura also marked its third consecutive quarter of profitability with a positive adjusted EBITDA of $0.6 million and a year-over-year increase in GAAP gross profit, reaching $28.6 million. Despite expecting a modest revenue decline in Q2, the company anticipates a return to growth in the latter half of the year.
Kaltura also confirmed several large deals, primarily through upselling to existing customers, and reported improved gross retention rates. Analysts note that the company plans to reduce costs with the development of an in-house transcription engine and is monitoring industry consolidation opportunities and regional growth trends.
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