FORWARD-LOOKING STATEMENTS
This Annual Report on Form 10-K contains forward-looking statements.
We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section
27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this Annual Report
on Form 10-K may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,”
“will,” “should,” “expects,” “plans,” “anticipates,” “could,”
“intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,”
“forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other
similar expressions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements
regarding our future results of operations and financial position, industry and business trends, stock-based compensation, revenue recognition,
business strategy, plans and market growth.
The forward-looking statements in this Annual Report on Form
10-K are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future
events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements
involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements
to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements,
including, but not limited to, the important factors discussed in Part I, Item 1A, “Risk Factors” in this Annual Report on
Form 10-K for the fiscal year ended December 31, 2021. The forward-looking statements in this Annual Report on Form 10-K are based upon
information available to us as of the date of this Annual Report on Form 10-K, and while we believe such information forms a reasonable
basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have
conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain
and investors are cautioned not to unduly rely upon these statements.
You should read this Annual Report on Form 10-K and the documents
that we reference in this Annual Report on Form 10-K and have filed as exhibits to this Annual Report on Form 10-K with the understanding
that our actual future results, levels of activity, performance and achievements may be materially different from what we expect. We qualify
all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this
Annual Report on Form 10-K. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements
contained in this Annual Report on Form 10-K, whether as a result of any new information, future events or otherwise.
As used in this Annual Report on Form 10-K, unless otherwise
stated or the context requires otherwise, references to “Kaltura,” the “Company,” “we,” “us,”
and “our,” refer to Kaltura, Inc. and its subsidiaries on a consolidated basis.
INDUSTRY AND MARKET DATA
Unless otherwise indicated, information contained in this Annual
Report on Form 10-K concerning our industry and the markets in which we operate is based on information from independent industry and
research organizations, other third-party sources, and management estimates. Certain of these publications, studies and reports were published
before the COVID-19 pandemic and therefore do not reflect any impact of COVID-19 on any specific market or globally. Management estimates
are derived from publicly available information released by independent industry analysts and third-party sources, as well as data from
our internal research, and are based on assumptions made by us upon reviewing such data and our knowledge of such industry and markets,
which we believe to be reasonable. Although we believe the data from these third-party sources is reliable, we have not independently
verified any third-party information. In addition, projections, assumptions, and estimates of the future performance of the industry in
which we operate and our future performance are necessarily subject to uncertainty and risk due to a variety of factors, including those
described in Part I, Item 1A. “Risk Factors” and the section titled “Forward-Looking Statements.” These and other
factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by us.
In particular, certain information identified in this Annual
Report on Form 10-K is contained in the following independent industry publications or reports by Forrester Research, Inc. (“Forrester”)
and Gartner, Inc. (“Gartner”):
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SUMMARY RISK FACTORS
Our business is subject to numerous risks and uncertainties,
including those described in Part I, Item 1A. “Risk Factors” in this Annual Report on Form 10-K. You should carefully consider
these risks and uncertainties when investing in our common stock. The principal risks and uncertainties affecting our business include
the following:
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