Kaltura Inc. (KLTR) Next Earnings Date & Expected ±10.1% Move

The Roarable RQD Score is 47 out of 100, graded D, with the verdict "Roarable Sell — Underperform / Distribution Warning" (). The five pillars are:

• Fundamental Cash Engine: 5 / 20. this pillar reflects ROIC of -34.3% and an FCF yield of 6.07%. The weakest pillar in relative terms, it indicates that the company's capital returns are negative even though free cash flow is positive. Investors should weigh the FCF yield against the negative ROIC, since positive cash generation does not by itself indicate efficient deployment of capital.
• Whale / 13F Flow: 11 / 20. this pillar covers institutional accumulation and options positioning. The score is moderate; the source data contains no holder detail (see Analyst View section), so the specific drivers of this score cannot be verified here.
• Insider Conviction: 9 / 20. this pillar reflects SEC Form 4 and Congressional PTR cluster flow. The score sits below the midpoint. Recent news items describe insider sales (see Recent Catalysts section), which is consistent with a below-midpoint reading.
• Macro Regime Fit: 14 / 20. beta is 1.0 with sector sensitivity. This is the strongest pillar, though it reflects market-correlation characteristics rather than company-specific strength.
• Forensic Balance Sheet: 8 / 20. the Altman Z-Score is 0.2, the Piotroski F-Score is 6/9, and Debt/Equity is 0.5. The Altman Z-Score of 0.2 is the most important element of this pillar and points to elevated distress risk, partially offset by a Piotroski score of 6 out of 9.

Investor implications. Taken together, the pillars describe a stock with positive free cash flow and a relatively high gross margin (70.6%), but with negative operating and net margins, negative ROIC, and a weak forensic balance sheet. A low price of $1.50 with a market cap of $228.8M does not by itself establish value. This brief is educational and not personalized financial advice.

Kaltura Inc. (KLTR) is listed on NASDAQ and operates in the Technology sector, within the Computer Software: Prepackaged Software industry (and profile). Revenue for FY 2025 was $180.9M ().

Revenue grew from $175.2M (FY 2023) to $180.9M (FY 2025), while operating losses narrowed from -$38.7M to -$5.0M. Per the market data, the operating margin is -2.7%, the net margin is -6.7%, and the gross margin is 70.6%. ROIC is -34.3% (and market data). The Altman Z-Score is 0.2 (distress range), the Piotroski F-Score is 6/9, and Debt/Equity is 0.5. Reported debt was — at FY 2025, down from $29.2M at FY 2024.

• 🐂 Primary Bull Case: Revenue grew to $180.9M in FY 2025 with positive FCF of $13.9M and a 70.6% gross margin, and debt fell to $0.0M. With Fundamental Cash Engine at 5/20 (ROIC -34.3%, FCF yield 6.07%) and Institutional Whale Flow at 8/20, sustained execution supports upside toward the top of the $1.05 – $2.05 52-week range.
• 🐻 Primary Bear Case: ROIC of -34.3% and an Altman Z-Score of 0.2 signal weak capital returns and elevated distress risk. Investors must weigh current valuation against -2.7% operating margins and a 1.00 macro beta if sector demand softens.

Upstream and downstream dependencies, sector correlations, and second-order bottlenecks are —

• Key Question #1: Why is ROIC -34.3% when free cash flow is positive in FY 2025 and FY 2024, and what drives the gap between cash generation and returns on capital?
• Key Question #2: What is the Altman Z-Score of 0.2 driven by, and how does the company's debt position change from $29.2M (FY 2024) to — (FY 2025)?
• Key Question #3: Who are the institutional holders and analysts covering the stock, given that the holders and analyst data are empty?