0001432133-23-000035 | 10-K | XBRL Viewer

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2022	Feb. 18, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Entity Registrant Name	Kaltura, Inc.
Entity Address, Address Line One	860 Broadway
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10003
Entity Incorporation, State or Country Code	DE
Entity Well-known Seasoned Issuer	No
Document Information [Line Items]
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Central Index Key	0001432133
Current Fiscal Year End Date	--12-31
Entity Tax Identification Number	20-8128326
City Area Code	(646)
Local Phone Number	290-5445
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Ex Transition Period	false
Entity Public Float			$ 218,800,000
Entity Common Stock, Shares Outstanding		134,826,086
ICFR Auditor Attestation Flag	false
Entity File Number	001-40644
Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
Common Stock
Document Information [Line Items]
Trading Symbol	KLTR
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common stock, $0.0001 par value per share

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Firm ID	1281
Auditor Name	KOST FORER GABBAY & KASIERER
Auditor Location	Tel-Aviv, Israel

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 44,625	$ 143,949
Marketable securities	41,343	0
Trade receivables	28,786	17,509
Prepaid expenses and other current assets	7,521	5,110
Deferred contract acquisition and fulfillment costs, current	10,759	9,079
Total current assets	133,034	175,647
LONG-TERM ASSETS:
Property and equipment, net	15,142	9,503
Other assets, noncurrent	3,176	2,543
Deferred contract acquisition and fulfillment costs, noncurrent	21,691	22,621
Operating lease right-of-use assets	20,814	0
Intangible assets, net	1,244	1,909
Goodwill	11,070	11,070
Total noncurrent assets	73,137	47,646
TOTAL ASSETS	206,171	223,293
Liabilities, Current [Abstract]
Current portion of long-term loans	5,793	2,794
Trade payables	9,437	6,480
Employees and payroll accruals	14,884	18,627
Accrued expenses and other current liabilities	16,527	18,496
Operating lease liabilities	2,355	0
Deferred revenue, current	59,841	51,689
Total current liabilities	108,837	98,086
Liabilities, Noncurrent [Abstract]
Deferred revenue, noncurrent	1,266	1,953
Long-term loans, net of current portion	30,004	35,795
Operating lease liabilities, noncurrent	20,697	0
Other liabilities, noncurrent	2,021	2,185
Total noncurrent liabilities	53,988	39,933
TOTAL LIABILITIES	162,825	138,019
STOCKHOLDERS' EQUITY:
Preferred stock, $0.0001 par value per share, 20,000,000 shares authorized as of December 31, 2022, and 2021; 0 shares issued and outstanding as of December 31, 2022, and 2021	0	0
Common stock $0.0001 par value per share, 1,000,000,000 shares authorized as of December 31, 2022 and 2021; 142,249,619 and 134,610,294, shares issued as of December 31, 2022 and 2021, respectively; 134,564,429 and 126,925,104 outstanding as of December 31, 2022 and 2021, respectively	13	13
Treasury stock – 7,685,190 shares of common stock, $0.0001 par value per share, as of December 31, 2022 and 2021	(4,881)	(4,881)
Additional paid-in capital	439,644	412,776
Accumulated other comprehensive loss	(301)	0
Accumulated deficit	(391,129)	(322,634)
Total stockholders' equity	43,346	85,274
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 206,171	$ 223,293

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.0001
Preferred Stock, Shares Authorized	20,000,000
Preferred Stock, Shares Issued	0
Common Stock, Par or Stated Value Per Share	$ 0.0001
Common Stock, Shares Authorized	1,000,000,000
Common Stock, Shares, Issued	142,249,619	134,610,294
Common Stock, Shares, Outstanding	134,564,429	126,925,104
Treasury Stock, Common, Shares	7,685,190
Treasury Shares Par Value Per Share	$ 0.0001

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Total revenue	$ 168,811	$ 165,016	$ 120,440
Cost of revenue:
Total cost of revenue	61,871	62,314	47,665
Gross Profit	106,940	102,702	72,775
Operating expenses:
Research and Development Expense	57,387	48,376	29,567
Selling and Marketing Expense	59,280	45,788	29,475
General and Administrative Expense	45,414	39,489	22,222
Restructuring Costs	1,238	0	0
Other General Expense	0	1,724	0
Total operating expenses	163,319	135,377	81,264
Operating Income (Loss)	56,379	32,675	8,489
Nonoperating Income (Expense)	4,248	20,106	46,721
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	60,627	52,781	55,210
Income Tax Expense (Benefit)	7,868	6,570	3,553
Net Income (Loss) Attributable to Parent	68,495	59,351	58,763
Preferred stock accretion and cumulative dividends	0	8,241	11,934
Net Income (Loss) Available to Common Stockholders, Basic	$ 68,495	$ 67,592	$ 70,697
Earnings Per Share, Basic	$ 0.53	$ 0.95	$ 2.83
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	130,366,385	71,073,052	24,939,901
Subscription [Member]
Revenue:
Total revenue	$ 152,480	$ 144,966	$ 104,064
Cost of revenue:
Total cost of revenue	40,099	39,866	28,486
Professional Services
Revenue:
Total revenue	16,331	20,050	16,376
Cost of revenue:
Total cost of revenue	$ 21,772	$ 22,448	$ 19,179

Statement of Comprehensive Income (Statement) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net Income (Loss) Attributable to Parent	$ 68,495	$ 59,351	$ 58,763
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	(120)	0	0
Available-for-Sale Securities, Gross Unrealized Loss	(181)	0	0
Other Comprehensive Income (Loss), Net of Tax	(301)	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total	$ (68,796)	$ (59,351)	$ (58,763)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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CONSOLIDATED STATEMENTS OF CONVERTIBLE AND REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Receivables from Stockholder	Additional Paid-in Capital	Retained Earnings	Comprehensive Income	Convertible Preferred Stock	Redeemable Convertible Preferred Stock
Temporary Equity, Shares Outstanding, Beginning Balance at Dec. 31, 2019								1,043,778	15,779,322
Temporary Equity, Carrying Amount, Attributable to Parent, Beginning Balance at Dec. 31, 2019								$ 1,921	$ 155,550
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Accretion to Redemption Value									$ 2,641
Temporary Equity, Stock Issued During Period, Value, New Issues	$ 0
Temporary Equity, Shares Outstanding, Ending Balance at Dec. 31, 2020								1,043,778	15,779,322
Temporary Equity, Carrying Amount, Attributable to Parent, Ending Balance at Dec. 31, 2020								$ 1,921	$ 158,191
Beginning Balance in Shares at Dec. 31, 2019		22,959,969
Stockholders' Equity Beginning Balance at Dec. 31, 2019	(210,281)	$ 2	$ (4,881)	$ (882)	$ 0	$ (204,520)	$ 0
Treasury Stock, Shares Beginning Balance at Dec. 31, 2019			7,685,190
Increase (Decrease) in Stockholders' Equity [Roll Forward]
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	5,114				5,114
Stock Issued During Period, Value, Stock Options Exercised	280	$ 0			280
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period		1,281,438
Adjustments to Additional Paid in Capital, Warrant Issued	3,057				3,057
Stock Issued During Period, Value, Acquisitions	2,578	$ 0			2,578
Stock Issued During Period, Shares, Acquisitions		1,226,515
Preferred Stock, Accretion of Redemption Discount	(2,641)				(2,641)
Conversion of convertible and redeemable convertible preferred stock to common stock upon initial public offering	0
Conversion of warrants to common stock upon initial public offering	0
Other Comprehensive Income (Loss), Net of Tax	0
Net loss	(58,763)					(58,763)
Ending Balance in Shares at Dec. 31, 2020		25,467,922
Treasury Stock, Shares, Ending Balance at Dec. 31, 2020			7,685,190
Stockholders' Equity Ending Balance at Dec. 31, 2020	(260,656)	$ 2	$ (4,881)	(882)	8,388	(263,283)	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Accretion to Redemption Value									$ 1,569
Issuance of preferred stock upon exercise of warrants (in Shares)									27,011
Temporary Equity, Stock Issued During Period, Value, New Issues	1,149								$ 1,149
Preferred Stock Redemption Discount									$ (1,569)
Temporary Equity, Shares Outstanding, Ending Balance at Dec. 31, 2021								0	0
Temporary Equity, Carrying Amount, Attributable to Parent, Ending Balance at Dec. 31, 2021								$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Loan Forgiveness	882			882
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	17,065				17,065
Stock Issued During Period, Value, Stock Options Exercised	1,367				1,367
Stock Issued During Period, Value, Acquisitions		$ 0
Stock Issued During Period, Shares, Acquisitions		876,541,000
Preferred Stock, Accretion of Redemption Discount	(1,569)				(1,569)
Stock Issued During Period, Shares, Conversion of Convertible Securities		(76,262,942,000)						(1,043,778)	(15,806,333)
Conversion of convertible and redeemable convertible preferred stock to common stock upon initial public offering	(161,261)	$ (8)			(161,253)			$ (1,921)	$ (159,340)
Stock Issued During Period, Value, New Issues	155,598	$ 2			155,596
Stock Issued During Period, Shares, New Issues		17,250,000,000
Conversion of warrants to common stock upon initial public offering	70,677	$ 1			70,676
Stock issued during period, shares, conversion of warrants to common stock (in Shares)		7,067,699,000
Other Comprehensive Income (Loss), Net of Tax	0
Net loss	$ (59,351)					(59,351)
Ending Balance in Shares at Dec. 31, 2021	126,925,104	126,925,104
Treasury Stock, Shares, Ending Balance at Dec. 31, 2021			7,685,190
Stockholders' Equity Ending Balance at Dec. 31, 2021	$ 85,274	$ 13	$ (4,881)	0	412,776	(322,634)	0
Temporary Equity, Shares Outstanding, Ending Balance at Dec. 31, 2022								0	0
Temporary Equity, Carrying Amount, Attributable to Parent, Ending Balance at Dec. 31, 2022								$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	23,941				23,941
Stock Issued During Period, Value, Stock Options Exercised	$ 2,927				2,927
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	4,393,437
Stock Issued During Period, Value, Acquisitions		$ 0
Stock Issued During Period, Shares, Acquisitions		7,026,070
Conversion of convertible and redeemable convertible preferred stock to common stock upon initial public offering	$ 0
Conversion of warrants to common stock upon initial public offering	$ 0	$ 0			0
Stock issued during period, shares, conversion of warrants to common stock (in Shares)	7,067,699	613,255
Other Comprehensive Income (Loss), Net of Tax	$ (301)						(301)
Net loss	$ (68,495)					(68,495)
Ending Balance in Shares at Dec. 31, 2022	134,564,429	134,564,429
Treasury Stock, Shares, Ending Balance at Dec. 31, 2022			7,685,190
Stockholders' Equity Ending Balance at Dec. 31, 2022	$ 43,346	$ 13	$ (4,881)	$ 0	$ 439,644	$ (391,129)	$ (301)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (68,495)	$ (59,351)	$ (58,763)
Depreciation, amortization, and abandonment costs	2,707	2,412	7,677
Stock-based compensation expenses	23,645	17,065	5,114
Amortization of deferred contract acquisition and fulfillment costs	10,865	8,075	4,231
Change in valuation of warrants to purchase preferred and common stock	0	15,046	41,505
Non-cash interest expense (income), net	(146)	331	263
Non-cash expenses with respect to stockholders’ loans	0	882	0
Loss (gain) on sale of property and equipment	185	(757)	0
Loss on foreign exchange	1,424	0	0
Increase in trade receivables	(11,277)	(1,057)	(6,274)
Decrease (increase) in prepaid expenses and other current assets and other assets, noncurrent	429	(2,299)	(864)
Increase in deferred contract acquisition and fulfillment costs	(11,558)	(18,051)	(12,947)
Increase in trade payables	3,132	3,886	2,064
Increase (decrease) in accrued expenses and other current liabilities	(1,937)	3,756	4,964
Increase (decrease) in employees and payroll accruals	(3,743)	2,352	5,886
Increase (decrease) in other liabilities, noncurrent	(51)	(675)	635
Increase in deferred revenue	7,465	6,275	12,313
Operating lease right-of-use assets and lease liabilities, net	527	0	0
Net cash provided by (used in) operating activities	(46,828)	(22,110)	5,804
Cash flows from investing activities:
Investment in available-for-sale marketable securities	(60,165)	0	0
Proceeds from maturities of available-for-sale marketable securities	18,985	0	0
Net cash acquired in business combination	0	0	383
Purchases of property and equipment	(1,218)	(1,876)	(1,118)
Proceeds from sale of property and equipment	0	757	0
Capitalized internal-use software development costs	(4,759)	(3,978)	(1,849)
Investment in restricted bank deposit	(2,600)	0	0
Purchase of intangible assets	0	(145)	(162)
Net cash used in investing activities	(49,757)	(5,242)	(2,746)
Cash flows from financing activities:
Proceeds from initial public offering, net of underwriting discounts and commissions	0	160,425	0
Payment related to the conversion of Series F redeemable convertible preferred stock upon initial public offering	0	(1,569)	0
Proceeds from long-term loans, net of debt issuance cost	0	41,915	2,000
Repayment of long-term loans	(3,000)	(51,833)	(1,667)
Principal payments on finance leases	(136)	(1,717)	(2,354)
Proceeds from exercise of stock options	2,732	1,335	280
Payment of debt issuance costs	(125)	0	0
Payment of deferred offering costs	0	(5,188)	(106)
Net Cash Provided by (Used in) Financing Activities	(529)	143,368	(1,847)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	(1,424)	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	(98,538)	116,016	1,211
Cash, cash equivalents and restricted cash at the beginning of the year	144,371	28,355	27,144
Cash, cash equivalents and restricted cash at the end of the year	45,833	144,371	28,355
Supplemental disclosure of non-cash activity:
Purchase of property, equipment, internal-use software, and intangible asset in credit	355	1,106	155
Lease liabilities arising from right-of-use assets	23,712	0	0
Capitalized stock-based compensation cost	296	0	0
Pending proceeds from option exercises	227	0	0
Lease incentive recognized as leasehold improvements	1,711	0	0
Conversion of warrants to common stock upon initial public offering	0	70,677	0
Conversion of convertible and redeemable convertible preferred stock to common stock upon initial public offering	0	161,261	0
Issuance of ordinary shares and warrant with respect to business combination	0	0	3,799
Unpaid deferred offering costs	0	0	976
Supplemental disclosure of cash flow information
Cash paid for income taxes, net	8,873	2,636	1,210
Cash paid for interest	2,301	1,944	3,947
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet
Cash and cash equivalents	44,625	143,949	27,711
Restricted cash included in other assets, noncurrent	1,208	422	644
Total cash, cash equivalents, and restricted cash	$ 45,833	$ 144,371	$ 28,355

GENERAL	12 Months Ended
GENERAL	Dec. 31, 2022
Business [Abstract]
Nature of Operations	NOTE 1: GENERALKaltura, Inc. (together with its subsidiaries, the “Company”) was incorporated in October 2006 and commenced operations in January 2007. The Company’s business operations are allocated between two main segments, Enterprise, Education, and Technology (“EE&T”) and Media and Telecom (“M&T”). The Company has developed a platform for video creation, management, and collaboration. The Company's platform enables companies, educational institutions, and other organizations to cost-effectively launch advanced online video experiences, including for Over-the-top (“OTT”) Television, Cloud TV, web video publishing, video-based teaching, learning, and training, video-based marketing, and video-based collaboration. The Company’s core offerings consist of various Software-as-a-Service (“SaaS”) products and solutions and a Platform-as-a-Service (“PaaS”).

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Presentation and Significant Accounting Policies

NOTE 2: SIGNIFICANT ACCOUNTING POLICIES

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP").

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company evaluates on an ongoing basis its assumptions, including those related to contingencies, income tax uncertainties, incremental borrowing rate for operating leases, fair value of financial assets and liabilities, including fair value of derivatives, fair value and useful life of intangible assets, as well as in estimates used in applying the revenue recognition policy. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates.

Financial Statements in U.S. Dollars

The currency of the primary economic environment in which the operations of Kaltura Inc. and its subsidiaries are conducted is the U.S. dollar; thus, the dollar is the functional currency of Kaltura Inc. and its subsidiaries.

Accordingly, monetary accounts maintained in currencies other than the U.S. dollar are remeasured into U.S. dollars in accordance with Statement of the Accounting Standard Codification ("ASC") 830 "Foreign Currency Matters" ("ASC 830"). All transaction gains and losses of the remeasured monetary balance sheet items are reflected in the statements of operations as financial income or expenses, as appropriate.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Intercompany transactions and balances have been eliminated upon consolidation.

Cash and Cash Equivalents

Cash equivalents are short term, highly liquid investments that are readily convertible to cash with original maturities of three months or less, at the date acquired.

Restricted Cash

Restricted cash is primarily invested in deposits held to maturity, stated at cost, which also approximates their fair value, and are used as security for the Company's liabilities. These deposits are used mainly as security for rent payments, and the Company's credit cards. Restricted cash is presented in the balance sheet as part of other assets, noncurrent.

Marketable Securities

The Company accounts for investments in marketable securities in accordance with ASC No. 320, “Investments - Debt Securities”. Management determines the appropriate classification of its investments at the time of purchase and reevaluates such determinations at each balance sheet date. The Company classifies all of its debt securities as available-for-sale.

Available-for-sale debt securities are carried at fair value, with the unrealized gains and losses, net of tax, reported in accumulated other comprehensive income (loss) in shareholders’ equity. Realized gains and losses on sale of investments are included in financial income, net and are derived using the specific identification method for determining the cost of securities sold.

The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization together with interest on securities is included in financial income, net.

The Company’s securities are reviewed for impairment in accordance with ASC 320-10-35. If such assets are considered to be impaired, the impairment charge is recognized in earnings when a decline in the fair value of its investments below the cost basis is judged to be other-than-temporary. Factors considered in making such a determination include the duration and severity of the impairment, the reason for the decline in value, the potential recovery period and the Company’s intent to sell, including whether it is more likely than not that the Company will be required to sell the investment before recovery of cost basis. For securities with an unrealized loss that the Company intends to sell, or it is more likely than not that the Company will be required to sell before recovery of their amortized cost basis, the entire difference between amortized cost and fair value is recognized in earnings. For securities that do not meet these criteria, the amount of impairment recognized in earnings is limited to the amount related to credit losses, while declines in fair value related to other factors are recognized in other comprehensive income (loss).

Trade Receivables

Trade receivables are recorded at the invoiced amount and includes also amounts for which revenue has been recognized but not invoiced. The allowance for doubtful accounts is based on the Company's assessment of the collectability of accounts. The Company regularly reviews the adequacy of the allowance for doubtful accounts based on a combination of factors, including an assessment of the current customer's aging balance, the nature and size of the customer, the financial condition of the customer, and the amount of any receivables in dispute. There were no material write-offs for allowance of doubtful accounts recognized in the periods presented.

Derivatives and Hedging

Derivatives are recognized at fair value as either assets or liabilities in the consolidated balance sheets in accordance with ASC Topic 815, “Derivatives and Hedging.” The gain or loss of derivatives that are designated and qualify as hedging instruments in a cash flow hedge, is recorded under accumulated other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Derivatives are classified within Level 2 of the fair value hierarchy as the valuation inputs are based on quoted prices and market observable data of similar instruments.

Property and Equipment, net

Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets:


						Years

Computers and peripheral equipment						3
Office furniture and equipment						7-15
Leasehold improvements						Over the shorter of the related lease period or the life of the asset

Impairment of Long-Lived Assets

The long-lived assets of the Company are reviewed for impairment in accordance with ASC 360, “Property, Plant and Equipment” (“ASC 360”), whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. There were no impairment charges to long-lived assets during the periods presented.

Intangible Assets, net

Intangible assets consist primarily of customer relationships, technology and trade name. The intangible assets are amortized over their estimated useful lives in proportion to the economic benefits realized. Intangible assets consist primarily of customer relationships, technology, and trade name. The intangible assets are amortized over their estimated useful lives in proportion to the economic benefits realized.

Amortization for the intangible assets was recognized over the following periods:


						Years

Customer relationships						7-9
Technology						5-8
Tradename						10

Goodwill

Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations using the acquisition method of accounting, which requires that the assets acquired and liabilities assumed be recorded at the date of acquisition at their respective fair values.

Goodwill is subject to an impairment test at the reporting unit level at least annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that goodwill may be impaired. The Company identified two reporting units - EE&T and M&T. Goodwill impairment is deemed to exist if the net book value of a reporting unit exceeds its estimated fair value. An impairment loss is recognized in an amount equal to the excess. There were no impairment charges to goodwill during the periods presented.

Leases

The Company determines if an arrangement is a lease at inception. The Company currently does not have any finance leases.

Operating lease right-of-use (“ROU”) assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The Company combines its lease payments and fixed payments for non-lease components and account for them together as a single lease component. Operating lease ROU assets also include any prepaid lease payments and lease incentives. Certain lease agreements include rental payments adjusted periodically for the consumer price index (“CPI”). The ROU and lease liability were calculated using the initial CPI and will not be subsequently adjusted, unless the liability is reassessed for other reasons. Payments for variable lease costs are expensed as incurred and not included in the operating lease ROU assets and liabilities. For short-term leases with a term of 12 months or less, operating lease ROU assets and liabilities are not recognized and the Company records lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term.

The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate, because the interest rate implicit in the Company’s leases is not readily determinable. The Company’s incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. Many of the Company’s lease agreements provide one or more options to renew. When determining lease terms, the Company uses the non-cancellable period of the leases and do not assume renewals unless it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term.

Severance Pay

The majority of Kaltura Israel's agreements with its employees in Israel are in accordance with section 14 of the Israeli Severance Pay Law. Upon contribution of the full amount of the employee's monthly salary and release of the policy to the employee, no additional legal obligation exists between the parties and no additional payments are made by the Company to the employee; therefore, related assets and liabilities are not presented in the balance sheet.

For Kaltura Israel employees who are not subject to section 14, the Company calculated the liability for severance pay pursuant to the Severance Pay Law based on the most recent salary of these employees multiplied by the number of years of employment as of the balance sheet date. Kaltura Israel's liability for these employees is fully provided for via monthly deposits with severance pay funds, insurance policies and an accrual. The value of these deposits is recorded as an asset on the Company's balance sheet in other assets, noncurrent.

Severance expenses recorded in Kaltura Israel for the years ended December 31, 2022, 2021 and 2020 amounted to $3,976, $3,937 and $2,565, respectively.

The Company's employees in the U.S. receive severance benefits in the event of an involuntary termination that increase in accordance with their tenure and base salary. The Company accounts for post-employment benefits in accordance with ASC Topic No. 712, Compensation – Nonretirement Post-employment Benefits. These benefits, primarily severance, are not accrued until the amount can be reasonably estimated.

Severance expenses recorded in the U.S. for the years ended December 31, 2022, 2021 and 2020, other than one-time termination benefits detailed in Note 18, were immaterial.

Israeli Employees Defined Contribution Plan

The Company has established a pension contribution plan with respect to Kaltura Israel's employees. Under the plan, Kaltura Israel contributed up to 6.5% of each employee's monthly salary toward the plan. Employees are entitled to amounts accumulated in the plan upon reaching retirement age, subject to any applicable law.

Defined contribution pension plan expenses for the years ended December 31, 2022, 2021 and 2020 amounted to $3,099, $3,108 and $2,061, respectively.

Revenue Recognition

The Company recognizes revenue under Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”). Under ASC 606, the Company recognizes revenue when its customer obtains control of promised goods or services in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies judgment in identifying and evaluating terms and conditions in contracts which may impact revenue recognition. To determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements, the Company performs the following steps:

1. Identify the contract with a customer

The Company considers the terms and conditions of contracts with customers and its customary business practices in identifying contracts under ASC 606. The Company determines it has a contract with a customer when the contract is approved, each party’s rights regarding the services to be transferred can be identified, payment terms for the services can be identified, it has been determined that the customer has the ability and intent to pay, and the contract has commercial substance. The Company applies judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer. The Company engages in formal, written, and binding contracts with its customers that create enforceable rights and obligations between the parties and state each party’s rights regarding the license and services to be transferred and the terms of payment. The Company evaluates the probability of collection of the consideration that it is entitled to receive in exchange for the subscriptions and professional services it transfers to the customer. The Company records trade receivables and related contract liabilities for non-cancelable contracts with customers when the right to consideration is unconditional.

2. Identify the performance obligations in the contract

Performance obligations promised in a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the goods or service either on its own or together with other resources that are readily available from the Company or from third-parties, and are distinct in the context of the contract, whereby the transfer of the goods or services is separately identifiable from other promises in the contract.

The Company provides subscriptions to its Video Experience Cloud, which powers live, real-time, and on-demand video experiences. The Company provides access to its platform either as a cloud-based service ("SaaS" or "PaaS") or, less commonly, as a license to software installed on the customer's premises ("On-Prem") all together defined as subscriptions in the statement of operations.

Professional Services (“PS”) consist of integration, configuration and customization activities. In some of the Company's arrangements, PS are accounted for as a separate performance obligation. However, in some of the Company’s SaaS and PaaS arrangements the Company determined that the PS are solely set up activities that do not transfer goods or services to the customer and therefore are not accounted for as a separate performance obligation.

3. Determine the transaction price

The transaction price is determined based on the consideration which the Company is expected to be entitled to in exchange for transferring the promised goods or services to the customer. This transaction price is exclusive of amounts collected on behalf of third parties, such as sales tax and value-added tax. The Company rarely provides its customers with price concessions.

The Company's contracts usually include a fixed amount of consideration, as well as variable consideration for overage usage that, in most cases, is not considered probable at the inception of the contract. Revenue accounted for as variable consideration for overages usage is recognized when the uncertainty is resolved, usually when the customer exceeds its committed usage threshold (i.e., overages are consumed) and the overages are invoiced.

The Company rarely has contracts for which the difference between the payment date and the revenue recognition timing is more than 12 months. The primary purpose of the Company’s payment terms is to provide customers with a simple and predictable way to purchase the Company’s subscriptions, not to provide customers with financing.

In addition, the Company has elected to apply the practical expedient for financing component for transactions in which the difference between the payment date and the revenue recognition timing is up to 12 months.

4. Allocate the transaction price to performance obligations in the contract

If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price (“SSP”).

When applicable, the Company allocates the transaction price between the separate performance obligations according to their SSP, which is based on the price at which the performance obligation is sold separately. If the SSP is not observable through past transactions, the Company estimates the SSP taking into account available information, including, but not limited to, pricing practices, market conditions, and the economic life of the software.

5. Recognize revenue when or as the Company satisfies a performance obligation

Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised good or service to the customer. Revenue is recognized when control of the good or services is transferred to the customer, in an amount that reflects the consideration expected to be received in exchange for those services. A customer obtains control of a good or service if it has the ability to direct the use of and obtain substantially all of the remaining benefits from the good or service.

Revenue from SaaS and PaaS subscriptions is recognized ratably over the time of the subscription, beginning from the date in which the customer is granted access to the subscription. Revenue from the sale of a term license in On-Prem deals is recognized at a point in time in which the license is delivered to the customer.

Revenue from post-contract services ("PCS") included in On-Prem projects is recognized ratably over the time of the PCS.

Revenue from PS that is accounted for as a separate performance obligation is recognized upon rendering of the service.

Contract Costs

Some of the sales commissions and bonuses earned by the Company's employees and management are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions and bonuses for new contracts are deferred and then amortized consistently with the pattern of revenue recognition for each performance obligation for contracts for which the commissions were earned, mainly on a straight-line basis, over a period of benefit that the Company has estimated to be mainly five years. This period of benefit was determined by taking into consideration the technology's useful life.

Sales bonuses for renewal contracts are deferred and then amortized on a straight-line basis over the related contractual renewal period.

The Company classifies deferred costs as current or noncurrent based on the timing of when the Company expects to recognize the expense.

Amortization of sales commissions are consistent with the pattern of revenue recognition of each performance obligation and are included in sales and marketing expense in the consolidated statements of operations.

The Company periodically reviews these deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. There were no impairment losses recorded during the periods presented.

The Company capitalizes costs incurred to fulfill its contracts when the costs relate directly to a contract and are expected to generate resources that will be used to satisfy the performance obligation under the contract and are expected to be recovered through revenues generated under the contract. Costs to fulfill contracts are expensed to cost of revenue on a straight-line basis over a period of five years which reflects the technological useful life.

Cost of Revenue

Cost of subscription revenue consists primarily of employee-related costs including payroll, benefits and stock-based compensation expense for operations and customer support teams, costs of cloud hosting providers and other third-party service providers, amortization of capitalized software development costs and acquired technology and allocated overhead costs.

Cost of professional services consists primarily of personnel costs of our professional services organization, including payroll, benefits, and stock-based compensation expense, allocated overhead costs and other third-party service providers.

Research and Development Costs

Research and development costs are charged to the statements of operations as incurred, except to the extent that such costs are associated with internal-use software that qualifies for capitalization.

Internal-Use Software

Costs incurred to develop internal-use software are capitalized and amortized over the estimated useful life of the software, which is generally five years. In accordance with ASC Topic, 350-40, "Internal-Use Software," capitalization of costs to develop internal-use software begins when preliminary development efforts are successfully completed, the Company has committed project funding and it is probable that the project will be completed and the software will be used as intended. Costs related to the maintenance of internal-use software are expensed as incurred.

The Company periodically reviews internal-use software costs to determine whether the projects will be completed, placed in service, removed from service or replaced by other internally developed or third-party software. If the asset is not expected to provide any future benefit, the asset is retired, and any unamortized cost is expensed. Capitalized internal-use software costs are recorded under property and equipment, net.

When events or changes in circumstances require, the Company assesses the likelihood of recovering the cost of internal-use software. If the net book value is not expected to be fully recoverable, internal-use software would be impaired to its fair value. During the years ended December 31, 2022, 2021 and 2020, the Company capitalized $5,115, $4,838 and $1,893 of software development costs, respectively. No impairment was recorded for the years ended December 31, 2022, 2021 and 2020.

Advertising Costs

Advertising costs are expensed as incurred and include marketing activities, demand generation, events, public relations and brand-building activities. Advertising costs for the years ended December 31, 2022, 2021 and 2020, amounted to $5,767, $5,057 and $3,143, respectively, and are included in sales and marketing expenses in the consolidated statements of operations.

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC 718,"Compensation - Stock Compensation" ("ASC 718"). ASC 718 requires companies to estimate the fair value of equity-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award is recognized as an expense over the requisite service periods in the Company's consolidated statements of operations.

Service-Based Awards

The Company grants stock option awards and restricted stock units (“RSUs”), that vest only based upon the satisfaction of a service condition. The Company selected the Black-Scholes option-pricing model as the most appropriate fair value method for its option awards. The option-pricing model requires a number of assumptions, of which the most significant are the fair value of its common stock, the expected stock price volatility, expected option term, risk-free interest rates and expected dividend yield.

The assumptions used to determine the fair value of the option awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. For RSUs, the Company determines the grant-date fair value of the RSUs as the fair value of the Company’s common stock on the grant date.

The Company recognizes compensation cost for options and stock awards that have a graded vesting schedule and contain only service condition on a straight-line basis over the requisite service period for the entire award. Forfeitures are accounted for as they occur instead of estimating the number of awards expected to be forfeited.

Market-Based Awards

The Company has granted three of its executives stock options that vest only upon the satisfaction of market-based conditions. The market-based conditions reflect specific prices for the Company’s common stock, which must be exceeded for each tranche of the grant to vest.

For market-based awards, the Company determined the grant-date fair value utilizing a Monte Carlo simulation model, which incorporates various assumptions including expected stock price volatility, risk-free interest rates, expected exercise behavior for vested options, expected date of a qualifying event and expected form and timing of a liquidity event. The Company estimated the volatility of the common stock on the date of grant based on the weighted average historical stock price volatility of comparable publicly-traded companies. Because the option does not qualify as “plain vanilla” per SEC Staff Accounting Bulletin 107, the expected term cannot be estimated based on the simplified model described in the Bulletin. In order to address the term, the Monte Carlo simulation model includes an assumption about the price level at which vested options are expected to be exercised (the “Sub Optimal Exercise” factor). The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The rate used is based on the expected term of the option.

The Company recognizes compensation expenses for the value of its market-based awards based on the accelerated attribution method over the estimated requisite service period of each of the awards. The Company has determined that there is no explicit or implicit service period for the awards, and therefore the requisite service period is based on the derived service period. The derived service period is the term calculated in the Monte Carlo valuation model as described above. The derived service period is the median duration of the simulated price paths in which the option tranche vests, which is determined by the above assumptions.

Business Combination

The Company accounted for business combination in accordance with ASC 805, "Business combinations". ASC 805 requires recognition of assets acquired, liabilities assumed, and any non-controlling interest at the acquisition date, measured at fair values as of that date. Any excess of the fair value of net assets acquired over purchase price and any subsequent changes in estimated contingencies are to be recorded in earnings.

Acquisition related costs are expensed to the statement of operations in the period incurred.

Income Taxes

The Company accounts for income taxes in accordance with ASC 740, "Income Taxes". This codification prescribes the use of the asset and liability method whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and for carry-forward tax losses.

Deferred taxes are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse.

The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value if it is more likely than not that some portion or all of the deferred tax asset will not be realized.

The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740, "Income Taxes". Accounting guidance addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements, under which a company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.

The tax benefits recognized in the consolidated financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. Accordingly, the Company reports a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return (see also Note 11).

Net Loss per Share Attributable to Common Stockholders

The Company's basic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period, without consideration of potentially dilutive securities. The diluted net loss per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury share method or the if-converted method based on the nature of such securities. Diluted net loss per share is the same as basic net loss per share in periods when the effects of potentially dilutive shares of common stock are anti-dilutive.

Prior to the completion of the Company's initial public offering in July 2021 (“IPO”), the Company computed net loss per share using the two-class method required for participating securities. The two-class method requires income available to common stockholder for the period to be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The Company considered its convertible preferred stock to be participating securities as the holders of the convertible preferred stock would be entitled to dividends that would be distributed to the holders of common stock, on a pro-rata basis, assuming the conversion of all outstanding shares of convertible preferred stock into common stock. These participating securities did not contractually require the holders of such stock to participate in the Company’s losses. As such, net loss for the periods presented was not allocated to the Company’s participating securities.

Concentration of Credit Risks

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, marketable securities, restricted cash and trade receivables.

The majority of the Company's and its subsidiaries' cash and cash equivalents and restricted cash are invested with major banks in Israel, the United Kingdom and the United States. Such investments in the United States may be in excess of insured limits and are not insured in other jurisdictions. However, in general, these investments may be redeemed upon demand and therefore bear minimal risk.

The Company's trade receivables are geographically dispersed and derived from sales to customers mainly in the United States, Europe and Asia. Concentration of credit risk with respect to trade receivables is limited by credit limits, ongoing credit evaluation and account monitoring procedures.

Major customer data as a percentage of total revenues:

The following table sets forth a customer that represented 10% or more of the Company’s total revenue in each of the periods set forth below:


	Year ended December 31,
	2022		2021		2020

Customer A (Media and Telecom)	*)	—	*)	—	11.60%

*) Represents an amount that is lower than 10% of the Company’s total revenue.

Fair Value of Financial Instruments

ASC 820, "Fair Value Measurements and Disclosures", defines fair value as the price that would be received to sell an asset or paid to transfer a liability (i.e., the "exit price") in an orderly transaction between market participants at the measurement date.

In determining fair value, the Company uses various valuation approaches. ASC 820 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company.

Unobservable inputs are inputs that reflect the Company's assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

Level 1 - Valuations based on quoted prices in active markets for identical assets that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.

Level 2 - Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

The carrying amounts of cash and cash equivalents, restricted cash, trade receivables, prepaid expenses and other current assets, employees and payroll accruals, trade payables, accrued expenses and other current liabilities, current portion of long-term loans and current portion of long-term lease approximate their fair value due to the short-term maturities of such instruments.

Legal Contingencies

From time to time, the Company or one of its subsidiaries become involved in legal proceedings or is subject to claims arising in its ordinary course of business. Such matters are generally subject to many uncertainties and outcomes and are not predictable with assurance. Specifically, the Company might be subject to contractual penalties, including liquidated damages, as well as breach of contract claims, which could result in litigation and cause the Company to incur additional costs, including in the form of additional damages or settlement payments. The Company accrues for contingencies when the loss is probable and it can reasonably estimate the amount of any such loss.

Recently Adopted Pronouncements

As an "emerging growth company," the Jumpstart Our Business Startups Act ("JOBS Act") allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. The adoption dates discussed below reflect this election.

In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases (Topic 842), which would require lessees to put all leases on their balance sheets, whether operating or financing, while continuing to recognize the expenses on their income statements in a manner similar to the existing practice. The guidance states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-of-use (“ROU”) asset for the right to use the underlying asset for the lease term.

The Company adopted the guidance on January 1, 2022 using a modified retrospective transition approach. It applied Topic 842 to all leases as of January 1, 2022 without adjusting the comparative periods presented. The Company elected to adopt the practical expedients permitted under the transition guidance within the new guidance and carried forward the historical accounting relating to lease identification and classification, remaining lease terms, and initial direct costs. Upon adoption, the Company recognized operating lease right-of-use assets and corresponding lease liabilities of $823. The adoption of Topic 842 did not have a material impact to the Company’s results of operations or cash flows. See Note 7, Leases, for further information.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing a variety of exceptions within the framework of ASC 740. These exceptions include the exception to the incremental approach for intra-period tax allocation in the event of a loss from continuing operations and income or a gain from other items (such as other comprehensive income), and the exception to using general methodology for the interim period tax accounting for year-to-date losses that exceed anticipated losses. The guidance became effective for the Company beginning January 1, 2022, and interim periods in fiscal years beginning January 1, 2023. Early adoption is permitted. The Company adopted this guidance on January 1, 2022, and the adoption did not have a material impact on its consolidated financial statements.

Recent Accounting Guidance Not Yet Adopted

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. The guidance will be effective for the Company beginning January 1, 2023, and interim periods therein. Early adoption is permitted. The Company does not expect that ASU 2016-13 will have a material impact on its consolidated financial statements and related disclosures.

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities in accordance with Accounting Standards Codification Topic 606. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. While the Company is continuing to assess the potential impacts of ASU 2021-08, it does not expect ASU 2021-08 to have a material effect, if any, on its consolidated financial statements.

REVENUES FROM CONTRACTS WITH CUSTOMERS

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer

NOTE 3: REVENUES FROM CONTRACTS WITH CUSTOMERS

The following tables present disaggregated revenue by category:


	Year Ended December 31, 2022
	Enterprise, Education and Technology				Media and Telecom
	Amount		Percentage of revenue		Amount		Percentage of revenue

Subscription	$	113,551	94.5	%	$	38,929	80.1	%
Professional services	6,639		5.5	%	9,692		19.9	%

	$	120,190	100	%	$	48,621	100	%


	Year Ended December 31, 2021
	Enterprise, Education and Technology				Media and Telecom
	Amount		Percentage of revenue		Amount		Percentage of revenue

Subscription	$	108,842	91.5	%	$	36,124	78.4	%
Professional services	10,090		8.5	%	9,960		21.6	%

	$	118,932	100	%	$	46,084	100	%


	Year Ended December 31, 2020
	Enterprise, Education and Technology				Media and Telecom
	Amount		Percentage of revenue		Amount		Percentage of revenue

Subscription	$	74,473	92.6	%	$	29,591	74.0	%
Professional services	5,976		7.4	%	10,400		26.0	%

	$	80,449	100	%	$	39,991	100	%

Contract Balances

Contract liabilities consist of deferred revenue. Revenue is deferred when the Company invoices in advance of performance under a contract. The current portion of the deferred revenue balance is recognized as revenue during the 12-month period after the balance sheet date.

The noncurrent portion of the deferred revenue balance is recognized as revenue following the 12-month period after the balance sheet date.

Substantially all the revenue that was included in the deferred revenue, current as of January 1, 2022, was recognized as revenue during 2022.

Remaining Performance Obligations

Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized, including both deferred revenue and contracted amounts that will be invoiced and recognized as revenue in future periods. As of December 31, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $171,660, which consists of both billed consideration in the amount of $61,107 and unbilled consideration in the amount of $110,553 that the Company expects to recognize as revenue and was yet recognized on the balance sheet. The Company expects to recognize 60% of its remaining performance obligations as revenue in the year ending December 31, 2023, and the remainder thereafter.

Costs to Obtain a Contract

The following table represents a roll forward of costs to obtain a contract:


	December 31,
	2022		2021		2020

Beginning balance	$	26,274	$	17,683	$	9,015
Additions to deferred contract acquisition costs during the period	10,037		15,594		11,997
Amortization of deferred contract acquisition costs	(9,383)		(7,003)		(3,329)

Ending balance	$	26,928	$	26,274	$	17,683

Deferred contract acquisition costs, current	$	8,979	$	7,671	$	4,788
Deferred contract acquisition costs, noncurrent	17,949		18,603		12,895

Total deferred costs to obtain a contract	$	26,928	$	26,274	$	17,683

Costs to Fulfill a Contract

The following table represents a roll forward of costs to fulfill a contract:


	December 31,
	2022				2021			2020

Beginning balance	$	5,426			$	4,041		$	3,993
Additions to deferred costs to fulfill a contract during the period	1,578				2,457			950
Amortization of deferred costs to fulfill a contract	(1,482)				(1,072)			(902)
			$	—			—
Ending balance	$	5,522			$	5,426		$	4,041

Deferred fulfillment costs, current	$	1,780			$	1,408		$	1,060
Deferred fulfillment costs, noncurrent	3,742				4,018			2,981

Total deferred costs to fulfill a contract	$	5,522			$	5,426		$	4,041

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Investments, Debt and Equity Securities

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure

NOTE 4: MARKETABLE SECURITIES

The following is a summary of available-for-sale marketable securities as of December 31, 2022:


	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair Value
Available-for-sale – matures within one year:
Corporate bonds	$	9,305	$	—	$	(66)	$	9,239
Municipal securities	1,751		—		(4)		1,747
U.S. Treasury	16,306		—		(111)		16,195
Commercial paper	11,237		—		—		11,237
Agency bonds	2,925		1		(1)		2,925
	$	41,524	$	1	$	(182)	$	41,343

Based on the available evidence, the Company concluded that the gross unrealized losses on the marketable securities as of December 31, 2022 are temporary in nature. There were no gains or losses from available-for-sale marketable securities that were reclassified out of accumulated other comprehensive income during the periods presented.

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Disclosures

NOTE 5: FAIR VALUE MEASUREMENTS

In accordance with ASC 820, the Company measures its cash equivalents and marketable securities at fair value using the market approach valuation technique. Cash equivalents and marketable securities are classified within Level 1 or Level 2 because these assets are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Foreign currency derivative contracts are classified within the Level 2 value hierarchy, as the valuation inputs are based on quoted prices and market observable data of similar instruments.


		Fair Value Measurements As Of
Description	Fair Value Hierarchy	December 31, 2022		December 31, 2021

Measured at fair value on a recurring basis:

Assets:
Cash equivalents:
Money market funds	Level 1	$	16,489	$	—

Short-term marketable securities:
Corporate bonds	Level 2	$	9,239	$	—
Municipal securities	Level 2	$	1,747	$	—
U.S. Treasury	Level 2	$	16,195	$	—
Commercial paper	Level 2	$	11,237	$	—
Agency bonds	Level 2	$	2,925	$	—

Liabilities:
Derivative instruments liability included in accrued expenses and other current liabilities:
Options and forward contracts designated as hedging instruments	Level 2	$	120	$	—

Prior to the Company's IPO, the warrants to purchase preferred and common stock were measured at fair value using Level 3 inputs upon issuance and at each reporting date. Inputs used to determine the estimated fair value of the warrants to purchase preferred and common stock as of the valuation date included expected term, the risk-free interest rate, volatility, and the fair value of underlying shares.

The following table sets forth a summary of the changes in the fair value of the warrants to purchase preferred and common stock:


	Year Ended December 31,
	2021		2020

Balance at January 1	$	56,780	$	17,111
Issuance of warrants	—		1,221
Reclassification of warrant to common stocks to equity	—		(3,057)
Reclassification of warrant to preferred stocks to mezzanine equity	(1,149)		—
Change in fair value of warrants	15,046		41,505
Conversion of warrants to common stock upon initial public offering	(70,677)		—

Balance at December 31,	$	—	$	56,780

On February 3, 2021, SVB Financial Group (“SVB”) converted a Warrant to Purchase Stock issued on February 3, 2011 (the “Series C Warrant”) into shares of the Company’s Series C Convertible Preferred Stock pursuant to the cashless conversion mechanism described in the Series C Warrant. The conversion was exercised for all 31,414 shares covered by the Series C Warrant and resulted in the net issuance of 27,011 shares of the Company’s Series C Convertible Preferred Stock. Pursuant to the terms of the Series C Warrant, the number of net shares issued was determined by dividing (a) the aggregate fair market value of the shares otherwise issuable upon exercise of the Series C Warrant minus the aggregate exercise price of such shares by (b) the fair market value of one share of the Company’s Series C Convertible Preferred Stock.

Upon the closing of the Company’s IPO, the warrants to purchase preferred and common stock were converted into 7,067,699 shares of common stock. The final re-measurement of the warrants was based upon the publicly available stock price on the conversion date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure

NOTE 6: DERIVATIVES AND HEDGING

The Company enters into forward, put and call option contracts to hedge certain forecasted payroll costs denominated in NIS against exchange rate fluctuations of the U.S. dollar for a period of up to twelve months. The Company recorded the cash flows associated with these derivatives under operating activities. The Company does not use derivative instruments for trading or speculative purposes.

Notional Amount of Foreign Currency Contracts

The Company had outstanding contracts designated as hedging instruments in the aggregate notional amount of $8,345 as of December 31, 2022. The fair value of the Company’s outstanding contracts amounted to a liability of $120 as of December 31, 2022. These liabilities were recorded under accrued expenses and other current liabilities. Loss of $1,418 was reclassified from accumulated other comprehensive loss during the year ended December 31, 2022. Such loss was reclassified from accumulated other comprehensive loss when the related expenses were incurred. The Company had no outstanding contracts designated as hedging instruments as of December 31, 2021.

Effect of Foreign Currency Contracts on the Consolidated Statements of Operations

The effect of foreign currency contracts on the consolidated statements of operations during the year ended December 31, 2022 was as follows:


Statement of Operations Location:	Year Ended December 31, 2022

Cost of revenue	$	230
Research and development	727
Sales and marketing	190
General and administrative	249
Restructuring	22

Total	$	1,418

Leases, Codification Topic 842

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lessee, Operating Leases

NOTE 7: LEASES

The Company leases its office facilities under non-cancelable agreements that expire at various dates through July 2027.

During the fourth quarter of 2021, the Company entered into a non-cancelable operating lease agreement for an office that contains approximately 13,815 square feet in New York, New York (the "Lease"). For accounting purposes under ASC 842, the Lease commenced on January 11, 2022, resulting in a recording of a $4,108 right-of-use operating lease asset and operating lease liability.

On April 6, 2022, the Company entered into a new lease agreement as tenant related to a property in Israel (the "Lease"). The Lease provides that the Company will lease a new building containing approximately 5,926 square meters (approximately 63,784 square feet) . The initial lease term is approximately 5.5 years with two options to extend of five years each. The Company believes that it is reasonably certain that it will exercise the option for the first extension period, and accordingly includes this extension period as part of the lease term. For accounting purposes under ASC 842, the Lease commenced on June 22, 2022, resulting in the recording of a $19,586 right-of-use operating lease asset and operating lease liability.

Components of operating lease expense were as follows:


	Year Ended December 31, 2022

Operating lease cost	$	2,827
Short-term lease cost	417
Variable lease cost	20

Total	$	3,264

Rent expenses under the previous lease accounting standard were $2,278 and $2,152 during the year ended December 31, 2021 and 2020, respectively.

Supplementary cash flow information related to operating leases was as follows:


	Year Ended December 31, 2022

Cash paid for operating leases	$	1,845

As of December 31, 2022, the weighted-average discount rate is 4.8% and the weighted-average remaining term is 9.0 years. Maturities of the Company’s operating lease liabilities as of December 31, 2022 were as follows:


Year Ending December 31,

2023	$	3,206
2024	3,131
2025	3,188
2026	3,250
2027	2,817
2028 and thereafter	11,372
Total operating lease payments	26,964
Less: imputed interest	3,912
Total operating lease liabilities	$	23,052

As of December 31, 2021, the minimum lease payments under operating leases, including payments for leases which had not commenced, were as follows:


Year Ending December 31,	Rental of premises

2022	$	1,317
2023	788
2024	806
2025	862
2026	919
2027	548

Total	$	5,240

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure

NOTE 8: COMMITMENTS AND CONTINGENCIES

Purchase Commitments

The Company has entered into various non-cancelable agreements with third-party providers for use of mainly cloud and other services, under which it committed to minimum and fixed purchases through the year ending December 31, 2026.

The following table presents details of the aggregate future non-cancelable purchase commitments under such agreements as of December 31, 2022:


Year ended December 31,

2023	13,592
2024	14,552
2025	13,093
2026	14,250

Total purchase commitment	$	55,487

Litigation

The Company is occasionally a party to claims or litigation in the normal course of the business. The Company does not believe that it is a party to any pending legal proceeding that is likely to have a material adverse effect on its business, financial condition, or results of operations.

Comprehensive Text Block List

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Supplemental Balance Sheet Disclosures

NOTE 9: CONSOLIDATED BALANCE SHEET COMPONENTS

Prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following:


	December 31,
	2022		2021

Prepaid expenses	$	3,369	$	3,858
Government institutions	422		576
Restricted bank deposits	2,600		—
Other current assets	1,130		676

	$	7,521	$	5,110

Property and Equipment, net

Composition of property and equipment is as follows:


	December 31,
	2022		2021
Cost:
Computers and peripheral equipment	$	4,323	$	3,668
Office furniture and equipment	551		745
Leasehold improvements	1,965		513
Finance leases of computers and peripheral equipment	253		253
Internal use software	12,095		6,980

	19,187		12,159

Accumulated depreciation	(4,045)		(2,656)

Depreciated cost	$	15,142	$	9,503

Depreciation expenses for the years ended December 31, 2022, 2021 and 2020 were $2,042, $1,407 and $2,791, respectively.

During the year ended December 31, 2022, the Company recorded a loss of $185, mainly due to disposal of leasehold improvements associated with moving to the Company's temporary office in Israel. The loss consisted of property, plant and equipment in a gross amount of $826, and accumulated depreciation of $641.

Other assets, noncurrent


	December 31,
	2022		2021

Restricted cash	$	1,208	$	422
Severance pay fund	1,855		1,968
Other	113		153

	$	3,176	$	2,543

Accrued expenses and other current liabilities


	December 31,
	2022		2021

Accrued expenses	$	7,471	$	7,240
Accrued taxes	7,966		9,525
Derivative instruments	120		—
Other current liabilities	970		1,731

	$	16,527	$	18,496

GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

NOTE 10: GOODWILL AND INTANGIBLE ASSETS, NET

The carrying amounts and accumulated amortization expenses of the intangible assets, as of December 31, 2022, and December 31, 2021, were as follows:


	December 31, 2022
	Weighted average remaining useful life (in years)	Balance
Gross carrying amount:
Technology	2.25	$	4,700
Customer relationship	5.25	$	2,419
Tradename	0.42	$	980

		$	8,099
Accumulated amortization and impairments:
Technology		$	(3,749)
Customer relationship		$	(2,203)
Tradename		$	(903)

		$	(6,855)

Intangible assets, net		$	1,244


	December 31, 2021
	Weighted average remaining useful life (in years)	Balance
Gross carrying amount:
Technology	3.25	$	4,700
Customer relationship	3.87	2,419
Tradename	1.42	980

		8,099
Accumulated amortization and impairments
Technology		(3,323)
Customer relationship		(2,049)
Tradename		(818)

		(6,190)

Intangible assets, net		$	1,909

During the year ended December 31, 2022, 2021 and 2020, the Company recorded amortization expenses in the amount of $665, $1,005 and $917, respectively, included in cost of revenue and sales and marketing expenses in the consolidated statements of operations.

The estimated future amortization expense of intangible assets as of December 31, 2022, is as follows:


	December 31,


2023	555
2024	478
2025	148
2026	50
2027	13

	$	1,244

Goodwill was $11,070 at December 31, 2022 and December 31, 2021 with $9,381 allocated to the M&T segment and $1,689 to the EE&T segment. There were no changes in the carrying amount of goodwill for the year ended December 31, 2022.

INCOME TAXES

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Tax Disclosure

NOTE 11: INCOME TAXES

The Company's subsidiaries are separately taxed under the domestic tax laws of the jurisdiction of incorporation of each entity.

Loss before taxes on income is comprised as follows:


	Year Ended December 31,
	2022		2021		2020

Domestic	$	66,346	$	75,259	$	67,540
Foreign	(5,719)		(22,478)		(12,330)

Loss before taxes on income	$	60,627	$	52,781	$	55,210

The provision for income taxes was as follows:


	Year Ended December 31,
	2022		2021		2020

Federal	$	—	$	—	$	—
State	88		65		57
Foreign	7,780		6,505		3,496

Total provision for income taxes	$	7,868	$	6,570	$	3,553

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. As of December 31, 2022 and 2021, the Company has provided a full valuation allowance in respect of deferred tax assets. Management currently believes that it is more likely than not that the deferred tax regarding the tax loss carry forwards and other temporary differences will not be realized in the foreseeable future in the U.S.

Significant components of the Company's deferred tax assets are as follows:


	December 31,
	2022		2021

Deferred tax assets:

Net operating losses carryforward	$	71,887	$	76,950
Disallowed business interest expense	$	4,760	$	4,404
Capitalized R&D costs	16,322		—
Reserves & accruals	1,489		1,762
Deferred revenue	283		205
Lease liability	1,009		—
Stock based compensation	2,710		481
Other assets	49		—

Deferred tax assets before valuation allowance	98,509		83,802
Valuation allowance	(84,795)		(75,051)

Total deferred tax assets	$	13,714	$	8,751

Deferred tax liabilities:

Acquired Intangible Assets	(798)		(696)
Deferred contract acquisition and fulfillment costs	(8,782)		(6,607)
Internal use software	(3,073)		(1,418)
Operating lease right-of-use assets	(923)		—
Property and equipment	(138)		(30)

Total deferred tax liabilities	$	(13,714)	$	(8,751)

Total net deferred tax assets	$	—	$	—

As of December 31, 2022, the U.S. parent company had a net U.S. operating loss carry forward ("NOLs") for federal income tax purposes of approximately $277,496 and U.S. state NOLs of approximately $172,429. Out of the operating losses attributed to the U.S. parent company, $169,095 were generated before January 1, 2018, and are subject to the 20-year carryforward period. The remaining $108,401 can be carried forward indefinitely but are subject to the 80% taxable income limitation.

Utilization of the U.S. net operating losses above may be subject to substantial annual limitations due to the "change in ownership" provisions of the Internal Revenue Code of 1986 and similar state provisions. The annual limitation may result in the expiration of substantial net operating losses before utilization (the 80% limitation was waived for NOLs utilized in 2019 and 2020 under the CARES Act).

The Company has analyzed the impact of Section 382 on its NOLs through 2020 and believes that the NOLs are not materially limited by Section 382. However, any future changes of ownership could impact the Company’s ability to utilize NOLs.

A reconciliation of the Company's theoretical income tax expense to actual income tax expense is as follows:


	Year Ended December 31,
	2022			2021			2020

Loss before tax as reported at the consolidated statement of operations	$	60,627		$	52,781		$	55,210

Statutory tax rate	21		%	21		%	21		%

Theoretical tax benefit	$	12,732		$	11,084		$	11,594

Non-deductible expenses and other permanent differences	154			403			269
Remeasurement of warrants to Fair Value	—			3,160			8,716
Stock based compensation	2,193			3,651			1,081
Change in valuation allowance	9,745			13,232			3,300
State taxes, net of federal benefit	4,946			(3,700)			—
Income tax at rate other than the U.S. statutory tax rate	3,045			320			1,786
Exchange rate differences	332			(100)			(113)
Other	185			688			108

Total tax expenses	$	7,868		$	6,570		$	3,553

On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act, a comprehensive tax law that includes significant changes to the taxation of business entities. These changes include several key tax provisions, among others: (i) a permanent reduction to the statutory federal corporate income tax rate from 35% to 21% effective for tax years beginning after December 31, 2017; (ii) a partial limitation on the tax deductibility of business interest expenses; (iii) a shift of the U.S. taxation of multinational corporations from a tax on worldwide income to a territorial system (along with certain rules designed to prevent erosion of the U.S. income tax base) and (iv) a one-time deemed repatriation tax on accumulated offshore earnings held in cash and illiquid assets, with the latter taxed at a lower rate. In addition, begging in 2022, U.S research and experimental expenditures should be capitalized and amortized ratably over a five-year period, Any such expenditures attributable to research conducted outside of the U.S must be capitalized and amortized over a-15 year period.

The Israeli corporate tax rate was 23% for the years ended December 31, 2022, 2021 and 2020. However, the effective tax rate payable by a company that derives income from a "Benefited Enterprise" or a "Preferred Enterprise" (as discussed below) may be considerably less. Capital gains derived by an Israeli company are generally subject to the prevailing corporate tax rate.

Tax benefits by virtue of the Law for the Encouragement of Capital Investments, 1959 ("the Investment Law"):

Until tax year 2014, Kaltura Israel utilized various tax benefits by virtue of the "Benefited Enterprise" status granted to its enterprise, pursuant to the Investment Law.

Kaltura Israel elected benefits under the alternative track of benefits according to which it was exempt from income tax in the first two years (from the date Kaltura Israel earned taxable income).

If a dividend is distributed out of tax exempt income earned by a Benefited Enterprise the amount distributed will be subject to corporate tax at the rate that would have otherwise been applicable on the Benefited Enterprise income. Dividends paid out of income attributed to a Beneficiary Enterprise are generally subject to withholding tax at source at the rate of 15% or such lower rate as may be provided in an applicable tax treaty.

As of December 31, 2022, approximately $536 was derived from tax exempt profits earned by Kaltura Israel's "Beneficiary Enterprise." The Company and its Board of Directors have determined that such tax-exempt income will not be distributed as dividends and intends to reinvest the amount of its tax-exempt income earned by Kaltura Israel. Accordingly, no provision for deferred income taxes has been provided on income attributable to Kaltura Israel's "Beneficiary Enterprise" as such income is essentially permanently reinvested.

If Kaltura Israel's retained tax-exempt income is distributed, the income would be taxed at the applicable corporate tax rate as if it had not elected the alternative tax benefits under the Investment Law and an income tax liability of up to $134 would be incurred as of December 31, 2022.

In 2011, new legislation amending the Investment Law was adopted. Under this new legislation, a unified corporate tax rate applied to all qualifying income generated by a "Preferred Company" through its Preferred Enterprise (as such terms are defined in the Investment Law) as of January 1, 2011.

Industrial Companies under the Preferred Enterprise status according to the new law as amended in July 2013, and starting January 1, 2014 are entitled to a uniform reduced corporate tax rate of 9% in areas in Israel designated as Development Zone A and 16% elsewhere in Israel.

The 2011 Amendment also provided transitional provisions to address companies already enjoying current benefits under the Investment Law. Under the transition provisions, the Company decided to irrevocably implement the new law, effective January 1, 2015.

Dividends distributed from income which is attributed to a “Preferred Enterprise” will be subject to withholding tax at source at the rate of 20% or such lower rate as may be provided in an applicable tax treaty.

Kaltura Israel's income from other sources is subject to tax at the regular Corporate Income rate.

The Company indefinitely reinvests earnings from its foreign subsidiaries and therefore no deferred tax liability has been recognized on the basis difference created by such earnings. The Company has not provided foreign withholding taxes for any undistributed earnings of its foreign subsidiaries.

Generally, in U.S. federal and state taxing jurisdictions, tax periods in which certain loss and credit carryovers are generated remain open for audit until such time as the limitation period ends for the year in which such losses or credits are utilized. Kaltura Israel received final tax assessments through 2016 while the rest of the Company's subsidiaries did not have any final tax assessments as of December 31, 2022.

A reconciliation of the opening and closing amounts of total unrecognized tax benefits is as follows:


	Unrecognized Tax Benefits

Balance as of January 1, 2020	$	2,665

Increases related to prior years' tax positions	311
Increases related to current years' tax positions	887

Balance as of December 31, 2020	$	3,863

Decreases related to prior years' tax positions	(107)
Increases related to current years' tax positions	738

Balance as of December 31, 2021	4,494

Decreases related to prior years' tax positions	(313)
Increases related to current years' tax positions	1,145

Balance as of December 31, 2022	$	5,326

The total amount of unrecognized tax benefits that would affect the effective tax rate, if recognized, was $5,326 and $4,494 as of December 31, 2022 and 2021.

The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2022 and 2021, the Company had accrued $467 and $313 for the payment of interest and penalties relating to unrecognized tax benefits, respectively.

In addition, the Company is subject to the continuous examination of its income tax returns by the IRS and other tax authorities. The Company’s federal and state income tax returns for years subsequent to 2007 remain open to examination. In the Company’s foreign jurisdictions – Israel and the United Kingdom – the tax years subsequent to 2016 remain open to examination. The Company is currently under audit in Israel.

The Company believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company’s tax audits are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. The Company currently does not expect uncertain tax positions to change significantly over the next 12 months, except in the case of settlements with tax authorities, the likelihood and timing of which is difficult to estimate.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 12: NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented:


	Year Ended December 31,
	2022		2021		2020

Numerator:
Net loss	$	68,495	$	59,351	$	58,763
Preferred stock accretion and cumulative dividends	—		8,241		11,934

Total loss attributable to common stockholders	$	68,495	$	67,592	$	70,697
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	130,366,385		71,073,052		24,939,901

Net loss per share attributable to common stockholders, basic and diluted	$	0.53	$	0.95	$	2.83

Instruments potentially exercisable for common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive are as follows:


	Year Ended December 31,
	2022	2021	2020

Convertible and redeemable and convertible preferred stock	—	—	16,823,100
Warrants to purchase preferred and common stock	—	—	6,777,275
Outstanding stock options and RSUs	33,457,465	37,627,380	31,981,404

Total	33,457,465	37,627,380	55,581,779

REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Reporting Disclosure

NOTE 13: REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION

Reportable segments

ASC 280, Segment Reporting, establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company's chief operating decision maker is its Chief Executive Officer ("CODM"). The Company's CODM does not regularly review asset information by segments and, therefore, the Company does not report asset information by segment.

The Company organizes its operations in two segments: Enterprise, Education and Technology and Media and Telecom. The Enterprise, Education and Technology segment represents products related to industry solutions for education customers, and media services (except for Media and Telecom customers). The Media and Telecom segment primarily represents TV solutions that are sold to media and telecom operators.

The measurement of the reportable operating segments is based on the same accounting principles applied in these financial statements, which includes certain corporate overhead allocations.


	Year Ended December 31, 2022
	Enterprise, Education and Technology		Media and Telecom		Total


Revenue	$	120,190	$	48,621	$	168,811

Gross profit	$	83,812	$	23,128	$	106,940

Operating expenses					163,319
Financial expenses, net					4,248
Provision for income taxes					7,868

Net loss					$	68,495


	Year Ended December 31, 2021
	Enterprise, Education and Technology		Media and Telecom		Total


Revenue	$	118,932	$	46,084	$	165,016

Gross profit	$	84,196	$	18,506	$	102,702

Operating expenses					135,377
Financial expenses, net					20,106
Provision for income taxes					6,570

Net loss					$	59,351


	Year Ended December 31, 2020
	Enterprise, Education and Technology		Media and Telecom		Total


Revenue	$	80,449	$	39,991	$	120,440

Gross profit	$	58,539	$	14,236	$	72,775

Operating expenses					81,264
Financial expenses, net					46,721
Provision for income taxes					3,553

Net loss					$	58,763

Geographical information

Revenue by location is determined by the billing address of the customer. Total revenues from external customers on the basis of the Company's geographical areas are as follows:


	Year Ended December 31,
	2022		2021		2020

United States (“US”)	$	91,923	$	96,464	$	68,781
Europe, the Middle East and Africa (“EMEA”)	58,026		51,077		37,592
Other	18,862		17,475		14,067

	$	168,811	$	165,016	$	120,440

No other individual country accounted for more than 10% of the Company’s revenue for all periods presented.

The following table presents long-lived assets as of December 31, 2022 and 2021, based on geographical areas which consist of property and equipment, net and operating lease right-of-use assets:


	December 31,
	2022		2021

US	$	15,752	$	7,690
Israel	19,995		1,408
Rest of world	209		405

	$	35,956	$	9,503

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

LONG-TERM LOAN

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Long-Term Debt

NOTE 14: LONG-TERM LOAN

In January 2021, the Company entered into a new credit agreement (the “Credit Agreement”) with an existing lender, which provides for a new senior secured term loan facility in the aggregate principal amount of $40,000 (the “Term Loan Facility”) and a new senior secured revolving credit facility in the aggregate principal amount of $10,000 (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Credit Facilities”).

In June 2021, the Company entered into an amendment to the Credit Agreement (the “First Amendment”). Pursuant to the First Amendment, the Company borrowed an additional aggregate principal amount of $12,500 and increased commitments under the Revolving Credit Facility to $35,000.

In December 2021, the Company repaid in full its outstanding principal amount under the Revolving Credit Facility. As of December 31, 2021, the total commitments under the Revolving Credit Facility are available for future borrowings.

Borrowings under the Credit Facilities are subject to interest, determined as follows: (a) Eurodollar loans accrue interest at a rate per annum equal to the Eurodollar rate plus a margin of 3.50% (the Eurodollar rate is calculated based on the Credit Agreement, subject to a 1.00% floor, divided by 1.00 minus the maximum effective reserve percentage for Eurocurrency funding), and (b) Alternate Base Rate (“ABR”) loans accrue interest at a rate per annum equal to the ABR plus a margin of 2.50% (ABR is equal to the highest of (i) the prime rate and (ii) the Federal Funds Effective Rate plus 0.50%, subject to a 2.00% floor). As of December 31, 2022, the current rate of interest under the Credit Facilities was equal to a rate per annum of 8.23%, consisting of 4.73% (the 3-month LIBOR rate as of December 31, 2022) and the margin of 3.50%.

The Term Loan Facility is payable in consecutive quarterly installments on the last day of each fiscal quarter in an amount equal to (i) $250 for installments payable on April 1, 2021, through December 31, 2021, (ii) $750 for installments payable on March 31, 2022 through December 31, 2022, and (iii) $1,500 for installments payable on and after March 31, 2023. The remaining unpaid balance on the Term Loan Facility is due and payable on January 14, 2024, together with accrued and unpaid interest on the principal amount to be paid to, but excluding, the payment date. Amounts outstanding under the Credit Facilities may be voluntarily prepaid at any time and from time to time, in whole or in part, without premium or penalty.

Under the terms of the Credit Facilities, the Company is obligated to maintain certain covenants as defined therein. As of December 31, 2022, the Company met these covenants.

The aggregate principal annual maturities according to the Credit Facilities agreements are as follows:


Year ended December 31,


2023	6,000
2024	30,000

	$	36,000

The carrying amounts of the loans approximate their fair value.

STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Equity Note Disclosure

NOTE 15: STOCKHOLDERS' EQUITY

Preferred Stock

In connection with the IPO, the Company amended and restated its Certificate of Incorporation to change the authorized preferred stock to 20,000,000 shares of preferred stock, all with a par value of $0.0001 per share.

Common Stock

The shares of common stock confer upon their holders the right to receive notice to participate and vote in general stockholders meetings of the Company, and the right to receive dividends, if declared, and to participate in the distribution of the surplus assets of the Company upon liquidation of the Company, as more fully described in the Company's Certificate of Incorporation.

In connection with the IPO, the Company amended and restated its Certificate of Incorporation to change the authorized common stock to 1,000,000,000 shares of common stock, all with a par value of $0.0001 per share.

The Company has the following common stock reserved for future issuance:


						December 31, 2022
Outstanding options						25,988,465
Outstanding RSUs						7,469,000
Shares reserved under 2021 Plan						5,492,262

Total						38,949,727

On October, 6, 2022, 613,255 warrants to common stock were exercised into 613,255 shares of common stock.

Equity Incentive Plans

Under the Company's 2007 U.S. and Israeli Stock Option Plans ("the 2007 Plans"), options were granted to officers, directors, employees, advisors and consultants of the Company or its subsidiaries.

In 2017, the Company adopted a new equity incentive plan, the "2017 Equity Incentive Plan" (the "2017 Plan" and together with the 2007 Plans, the "Old Plans"), and extended the term of the 2007 Israeli Stock Option Plan and the term of the options already granted thereunder for an additional ten-year period.

Each option granted under the Old Plans is exercisable until the earlier of ten years (or 20 years if granted under the 2007 Israeli Stock Option Plan) from the date of the grant of the option. The options vest primarily over a four-year period. Any options that are forfeited or not exercised before expiration become available for future grants.

In December 2020, the Company granted to three of its officers, market-based options at an exercise price of $13.34 per share. The options vest based on the achievement of specific share price targets such that 25% of the award will vest upon the fair market value of a share of common stock increasing fifty percent (50%) above the exercise price; an additional 25% of such award will vest upon the fair market value of a share increasing one-hundred percent (100%) above the exercise price; an additional 25% will vest upon the fair market value of a share increasing one-hundred and fifty percent (150%) above the exercise price; and the remaining 25% of the award will vest upon the fair market value increasing two-hundred percent (200%) above the exercise price.

Following the Company’s IPO, no additional awards will be granted under the Old Plans. However, the Old Plans will continue to govern the terms and conditions of the outstanding awards previously granted under the Old Plans.

Effective upon the effectiveness of the registration statement for the IPO, the Company adopted the 2021 Incentive Award Plan (the “2021 Plan”, and together with the Old Plans, the "Plans"). The 2021 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, RSUs, and other stock or cash-based awards to the Company’s officers, directors, employees, advisors, and consultants. The number of shares of common stock initially reserved for issuance under the 2021 Plan was 8,500,000 shares. in addition, certain shares of common stock subject to awards under the Old Plans, such as those subject to expirations, terminations, exercise and tax-related withholding, or failures to vest, will become available for issuance under the 2021 Plan.

The number of shares of common stock available for issuance under the 2021 Plan will also include an annual increase on the first day of each fiscal year beginning on January 1, 2022, equal to the lesser of:

•5% of the aggregate number of shares of common stock outstanding on the final day of the immediately preceding calendar year; and

•Such smaller number of shares of common stock as is determined by the Board of Directors.

Under the 2021 Plan, the exercise price of options granted is generally at least equal to the fair market value of the Company’s common stock on the date of grant. The term of the options generally may not exceed ten years. Additionally, the exercise price of any options granted to a 10% stockholder shall not be less than 110% of the fair market value of the common stock on the date of grant, and the term of such option grant shall not exceed five years.

On January 1, 2022, the number of shares of common stock authorized for issuance under the 2021 Plan automatically increased by 6,346,255 shares pursuant to the terms of the 2021 Plan.

Stock Options

A summary of the Company's stock option activity with respect to options granted under the Plans is as follows:


	Number of Options	Weighted Average exercise price		Weighted remaining contractual term (years)	Aggregate Intrinsic Value

Outstanding as of January 1, 2022	32,702,963	$	3.98	8.34	$	38,894

Granted	—	$	—
Exercised	(4,393,437)	$	0.66		$	5,272
Forfeited	(2,321,061)	$	3.71

Outstanding as of December 31, 2022	25,988,465	$	4.56	7.75	$	6,285

Exercisable options at end of the year	16,618,550	$	2.29	7.57	$	6,230

The fair value of each service-based award is estimated on the date of grant using the Black-Scholes model that uses the assumptions noted in the following table:


	2021	2020

Expected volatility	62%	50%
Risk-free interest rate	1.31% - 1.34%	0.4% - 0.8%
Dividend yield	—%	—%
Expected life	5.81	5.83

These assumptions and estimates were determined as follows:

(1)Fair value of common stock – Prior to the IPO, the fair value was determined by the Company's Board of Directors, with input from management and assisted by valuation reports prepared by a third-party valuation specialist. After the IPO, the fair value of the common stock underlying the options was the Company’s closing stock price on the Nasdaq Global Select Market on the grant date.

(2)Risk-free interest rate - The risk-free rate for the expected term of the options is based on the yields of U.S. Treasury securities with maturities appropriate for the expected term of the employee share option awards.

(3)Expected life - The expected life represents the period that options are expected to be outstanding. For option grants that are considered to be "plain vanilla," the Company determines the expected term using the simplified method. The simplified method deems the term to be the average of the time-to-vesting and the contractual life of the options.

(4)Expected volatility - The expected volatility is based on historical volatility over the most recent period commensurate with the expected term of the option. As the Company has a short trading history for its common stock, when the Company's trading period is shorter than the expected term, the expected volatility is derived from the average historical share volatilities of several unrelated public companies within the Company’s industry that the Company considers to be comparable to its own business over a period equivalent to the option’s expected term.

(5)Expected dividend yield - The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. As a result, an expected dividend yield of zero percent was used.

The weighted average grant-date fair value of the service-based awards granted in the years ended December 31, 2021, and 2020 was $2.45 and $3.80 per option, respectively. The total grant-date fair value of the service-based awards that vested during the years ended December 31, 2022, 2021 and 2020, was $12,763, $13,152 and $3,615, respectively. The aggregate intrinsic value of options exercised during the years ended December 31, 2021 and 2020, was $5,437 and $8,842, respectively.

The fair value of each market-based award is estimated on the date of grant using the Monte Carlo model that uses the assumptions noted in the following table:


						2020

Expected volatility						41%
Risk-free interest rate						0.94%
Dividend yield						—%

(1)Expected volatility - Because the Company had no trading history of its shares of common stock, the expected volatility was derived from the average historical share volatilities of several unrelated public companies within the Company's industry that the Company considers to be comparable to its own business over a period equivalent to the option's expected term.

The weighted average fair value of the market-based awards granted in the year ended December 31, 2020, was $2.26 per option. These costs are expected to be recognized over a weighted-average period of approximately five and a half years from December 2020.

RSUs

The following table summarizes the RSU activity for the year ended December 31, 2022:


	RSUs Outstanding	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2021	4,924,417	$4.38
RSUs granted	7,052,593	$1.92
RSUs vested	(2,632,633)	$3.20
RSUs forfeited	(1,875,377)	$3.43
Unvested and Outstanding as of December 31, 2022	7,469,000	$2.72

Stock-Based Compensation Expense

The stock-based compensation expense by line item in the accompanying consolidated statement of operations is summarized as follows:


	Year Ended December 31,
	2022		2021		2020

Cost of revenue	$	1,376	$	877	$	335
Research and development	4,268		2,798		1,251
Sales and marketing	3,711		2,173		1,639
General and administrative	14,290		11,217		1,889

Total expenses	$	23,645	$	17,065	$	5,114

As of December 31, 2022, there were $41,374 of total unrecognized compensation cost related to non-vested stock-based compensation arrangements granted under the Plans. These costs are expected to be recognized over a weighted-average period of approximately two years.

Rights Agreement

On August 7, 2022, the Board of Directors of the Company approved and declared a dividend distribution of one preferred stock purchase right (each, a "Right") for each share of common stock of the Company outstanding at the close of business on August 22, 2022. Each Right will entitle the registered holder thereof, after the Rights become exercisable and until August 6, 2023 (or the earlier redemption, exchange, or termination of the Rights), to purchase from the Company one one-thousandth of a share of Series A Junior Participating Preferred Stock, par value $0.0001 per share (the "Series A Preferred"), of the Company at a price of $13.00 per one one-thousandth of a share of the Series A Preferred. The complete terms of the Rights are set out in a Rights Agreement, dated August 7, 2022, between the Company and American Stock Transfer & Trust Company, LLC as rights agent (the “Rights Agreement”).

The Board of Directors of the Company adopted the Rights Agreement to protect stockholders from coercive of otherwise unfair takeover tactics. The Rights will cause substantial dilution to any person or group that acquires beneficial ownership of 10% (20% in the case of a passive institutional investor) or more of the common stock without the approval of the Board of Directors of the Company. The Rights are designed to promote the fair and equal treatment of all stockholders of the Company and ensure that the Board remains in the best position to discharge its fiduciary duties to the Company and its stockholders. Neither the Rights Agreement nor the Rights should interfere with any merger, tender or exchange offer or other business combination approved by the Board of Directors of the Company.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

SELECTED STATEMENT OF OPERATIONS DATA

12 Months Ended

Dec. 31, 2022

Selected Statement Of Operations Data [Abstract]

Condensed Financial Statements

NOTE 16: SELECTED STATEMENT OF OPERATIONS DATA


	Year Ended December 31,
	2022		2021		2020

Financial income:

Interest income	$	962	$	5	$	18

	962		5		18
Financial expenses:

Bank fees	160		530		370
Remeasurement of warrants to fair value	—		15,046		41,505
Interest expense	2,301		2,979		4,091
Foreign currency translation adjustments, net	1,959		1,136		666
Other	790		420		107

	5,210		20,111		46,739

Financial expenses, net	$	4,248	$	20,106	$	46,721

Comprehensive Text Block List

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Comprehensive Income (Loss) Note

NOTE 17: ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table summarizes the changes in accumulated other comprehensive loss by component, net of tax, during the year ended December 31, 2022:


	Net Unrealized Losses on Available-for-Sale Securities Instruments		Net Unrealized Losses on Derivatives Designated as Hedging Instruments		Total

Balance as of December 31, 2021	$	—	$	—	$	—
Other comprehensive loss before reclassifications	(181)		(1,643)		(1,824)
Net realized losses reclassified from accumulated other comprehensive income	—		1,523		1,523
Other comprehensive loss	(181)		(120)		(301)
Balance as of December 31, 2022	$	(181)	$	(120)	$	(301)

There was no accumulated other comprehensive loss activity during the year ended December 31, 2021.

Restructuring and Related Activities

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

NOTE 18: RESTRUCTURING ACTIVITIES

2022 Restructuring Plan

On August 7, 2022, the Board of Directors of the Company approved a cost-reduction and re-organization plan (the "2022 Restructuring Plan") that included, among other things, downsizing around 10% of the Company's employees.

During the year ended December 31, 2022, in connection with the 2022 Restructuring Plan, the Company recorded expenses of $1,238, all for one time employee termination benefits. The Company does not expect to incur additional costs related to the 2022 Restructuring Plan.

The following table is a reconciliation of the beginning and ending restructuring liability for the year ended December 31, 2022, related to the 2022 Restructuring Plan:


	EE&T		M&T		Total
Balance as of December 31, 2021	$	—	$	—	$	—
Accrual and accrual adjustments	1,012		226		1,238
Cash payments	(739)		(224)		(963)
Balance as of December 31, 2022	$	273	$	2	$	275

The restructuring liability for severance and termination benefits is reflected in "Employees and payroll accruals" in the consolidated balance sheet as of December 31, 2022.

2023 Reorganization Plan

On January 3, 2023, after the balance sheet date, the Board of Directors of the Company approved a re-organization plan (the “2023 Reorganization Plan”) that included, among other things, downsizing approximately 11% of the Company’s current workforce and adapting the Company's organizational structure, roles, and responsibilities accordingly. The 2023 Restructuring Plan is focused on realigning the Company’s operations to further increase efficiency and productivity, in reaction to the worsening economic climate and outlook. The 2023 Restructuring Plan's main objectives are to position the Company for lower demand, spend, and available budgets from prospects across the Company's market segments, align the Company's business strategy in light of these market conditions and support the Company’s growth initiatives and return path to profitability. In connection with the 2023 Reorganization Plan, the Company expects to incur net pre-tax charges of approximately $1,000, primarily for severance and related costs, all of which are expected to be expensed in the first quarter of 2023. All of these charges are expected to result in cash expenditures. The 2023 Reorganization Plan is expected to be substantially completed in the first half of 2023.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Use of Estimates, Policy

Use of EstimatesThe preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company evaluates on an ongoing basis its assumptions, including those related to contingencies, income tax uncertainties, incremental borrowing rate for operating leases, fair value of financial assets and liabilities, including fair value of derivatives, fair value and useful life of intangible assets, as well as in estimates used in applying the revenue recognition policy. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates

Foreign Currency Transactions and Translations Policy

Financial Statements in U.S. Dollars

Consolidation, Policy

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Intercompany transactions and balances have been eliminated upon consolidation.

Cash and Cash Equivalents, Policy

Cash and Cash Equivalents

Cash equivalents are short term, highly liquid investments that are readily convertible to cash with original maturities of three months or less, at the date acquired.

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy

Restricted Cash

Marketable Securities, Policy

Marketable Securities

Accounts Receivable

Trade Receivables

Derivatives, Policy

Derivatives and HedgingDerivatives are recognized at fair value as either assets or liabilities in the consolidated balance sheets in accordance with ASC Topic 815, “Derivatives and Hedging.” The gain or loss of derivatives that are designated and qualify as hedging instruments in a cash flow hedge, is recorded under accumulated other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Derivatives are classified within Level 2 of the fair value hierarchy as the valuation inputs are based on quoted prices and market observable data of similar instruments

Property, Plant and Equipment, Policy

Property and Equipment, net

Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets:


						Years

Computers and peripheral equipment						3
Office furniture and equipment						7-15
Leasehold improvements						Over the shorter of the related lease period or the life of the asset

Impairment or Disposal of Long-Lived Assets, Policy

Impairment of Long-Lived AssetsThe long-lived assets of the Company are reviewed for impairment in accordance with ASC 360, “Property, Plant and Equipment” (“ASC 360”), whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. There were no impairment charges to long-lived assets during the periods presented.

Intangible Assets, Finite-Lived, Policy

Intangible Assets, net

Amortization for the intangible assets was recognized over the following periods:


						Years

Customer relationships						7-9
Technology						5-8
Tradename						10

Goodwill and Intangible Assets, Goodwill, Policy

Goodwill

Lessee, Leases

Leases

The Company determines if an arrangement is a lease at inception. The Company currently does not have any finance leases.

Pension and Other Postretirement Plans, Nonpension Benefits, Policy

Severance Pay

Severance expenses recorded in Kaltura Israel for the years ended December 31, 2022, 2021 and 2020 amounted to $3,976, $3,937 and $2,565, respectively.

Severance expenses recorded in the U.S. for the years ended December 31, 2022, 2021 and 2020, other than one-time termination benefits detailed in Note 18, were immaterial.

Pension and Other Postretirement Plans, Policy

Israeli Employees Defined Contribution Plan

Defined contribution pension plan expenses for the years ended December 31, 2022, 2021 and 2020 amounted to $3,099, $3,108 and $2,061, respectively.

Revenue from Contract with Customer

Revenue Recognition

1. Identify the contract with a customer

2. Identify the performance obligations in the contract

3. Determine the transaction price

4. Allocate the transaction price to performance obligations in the contract

5. Recognize revenue when or as the Company satisfies a performance obligation

Revenue from post-contract services ("PCS") included in On-Prem projects is recognized ratably over the time of the PCS.

Revenue from PS that is accounted for as a separate performance obligation is recognized upon rendering of the service.

Contract Costs

Sales bonuses for renewal contracts are deferred and then amortized on a straight-line basis over the related contractual renewal period.

The Company classifies deferred costs as current or noncurrent based on the timing of when the Company expects to recognize the expense.

Cost of Goods and Service

Cost of Revenue

Research and Development Expense, Policy

Research and Development Costs

Internal Use Software, Policy

Internal-Use Software

Advertising Cost

Advertising Costs

Share-Based Payment Arrangement

Stock-Based Compensation

Service-Based Awards

Market-Based Awards

Business Combinations Policy

Business Combination

Acquisition related costs are expensed to the statement of operations in the period incurred.

Income Tax, Policy

Income Taxes

Deferred taxes are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse.

Earnings Per Share, Policy

Net Loss per Share Attributable to Common Stockholders

Concentration Risk, Credit Risk, Policy

Concentration of Credit Risks

Major customer data as a percentage of total revenues:

The following table sets forth a customer that represented 10% or more of the Company’s total revenue in each of the periods set forth below:


	Year ended December 31,
	2022		2021		2020

Customer A (Media and Telecom)	*)	—	*)	—	11.60%

*) Represents an amount that is lower than 10% of the Company’s total revenue.

Fair Value Measurement, Policy

Fair Value of Financial Instruments

As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

Level 2 - Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

Commitments and Contingencies, Policy

Legal ContingenciesFrom time to time, the Company or one of its subsidiaries become involved in legal proceedings or is subject to claims arising in its ordinary course of business. Such matters are generally subject to many uncertainties and outcomes and are not predictable with assurance. Specifically, the Company might be subject to contractual penalties, including liquidated damages, as well as breach of contract claims, which could result in litigation and cause the Company to incur additional costs, including in the form of additional damages or settlement payments. The Company accrues for contingencies when the loss is probable and it can reasonably estimate the amount of any such loss.

New Accounting Pronouncements, Policy

Recently Adopted Pronouncements

Recent Accounting Guidance Not Yet Adopted [Policy Text Block]

Recent Accounting Guidance Not Yet Adopted

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of estimated useful lives of property plant and equipment

Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets:


						Years

Computers and peripheral equipment						3
Office furniture and equipment						7-15
Leasehold improvements						Over the shorter of the related lease period or the life of the asset

Schedule of amortization period of intangible assets

Amortization for the intangible assets was recognized over the following periods:


						Years

Customer relationships						7-9
Technology						5-8
Tradename						10

Schedules of Concentration of Risk, by Risk Factor

The following table sets forth a customer that represented 10% or more of the Company’s total revenue in each of the periods set forth below:


	Year ended December 31,
	2022		2021		2020

Customer A (Media and Telecom)	*)	—	*)	—	11.60%

REVENUES FROM CONTRACTS WITH CUSTOMERS (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables present disaggregated revenue by category:


	Year Ended December 31, 2022
	Enterprise, Education and Technology				Media and Telecom
	Amount		Percentage of revenue		Amount		Percentage of revenue

Subscription	$	113,551	94.5	%	$	38,929	80.1	%
Professional services	6,639		5.5	%	9,692		19.9	%

	$	120,190	100	%	$	48,621	100	%


	Year Ended December 31, 2021
	Enterprise, Education and Technology				Media and Telecom
	Amount		Percentage of revenue		Amount		Percentage of revenue

Subscription	$	108,842	91.5	%	$	36,124	78.4	%
Professional services	10,090		8.5	%	9,960		21.6	%

	$	118,932	100	%	$	46,084	100	%


	Year Ended December 31, 2020
	Enterprise, Education and Technology				Media and Telecom
	Amount		Percentage of revenue		Amount		Percentage of revenue

Subscription	$	74,473	92.6	%	$	29,591	74.0	%
Professional services	5,976		7.4	%	10,400		26.0	%

	$	80,449	100	%	$	39,991	100	%

Contract with Customer, Contract Asset, Contract Liability, and Receivable

The following table represents a roll forward of costs to obtain a contract:


	December 31,
	2022		2021		2020

Beginning balance	$	26,274	$	17,683	$	9,015
Additions to deferred contract acquisition costs during the period	10,037		15,594		11,997
Amortization of deferred contract acquisition costs	(9,383)		(7,003)		(3,329)

Ending balance	$	26,928	$	26,274	$	17,683

Deferred contract acquisition costs, current	$	8,979	$	7,671	$	4,788
Deferred contract acquisition costs, noncurrent	17,949		18,603		12,895

Total deferred costs to obtain a contract	$	26,928	$	26,274	$	17,683

The following table represents a roll forward of costs to fulfill a contract:


	December 31,
	2022				2021			2020

Beginning balance	$	5,426			$	4,041		$	3,993
Additions to deferred costs to fulfill a contract during the period	1,578				2,457			950
Amortization of deferred costs to fulfill a contract	(1,482)				(1,072)			(902)
			$	—			—
Ending balance	$	5,522			$	5,426		$	4,041

Deferred fulfillment costs, current	$	1,780			$	1,408		$	1,060
Deferred fulfillment costs, noncurrent	3,742				4,018			2,981

Total deferred costs to fulfill a contract	$	5,522			$	5,426		$	4,041

Investments, Debt and Equity Securities (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities Reconciliation

The following is a summary of available-for-sale marketable securities as of December 31, 2022:


	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair Value
Available-for-sale – matures within one year:
Corporate bonds	$	9,305	$	—	$	(66)	$	9,239
Municipal securities	1,751		—		(4)		1,747
U.S. Treasury	16,306		—		(111)		16,195
Commercial paper	11,237		—		—		11,237
Agency bonds	2,925		1		(1)		2,925
	$	41,524	$	1	$	(182)	$	41,343

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Foreign currency derivative contracts are classified within the Level 2 value hierarchy, as the valuation inputs are based on quoted prices and market observable data of similar instruments.


		Fair Value Measurements As Of
Description	Fair Value Hierarchy	December 31, 2022		December 31, 2021

Measured at fair value on a recurring basis:

Assets:
Cash equivalents:
Money market funds	Level 1	$	16,489	$	—

Short-term marketable securities:
Corporate bonds	Level 2	$	9,239	$	—
Municipal securities	Level 2	$	1,747	$	—
U.S. Treasury	Level 2	$	16,195	$	—
Commercial paper	Level 2	$	11,237	$	—
Agency bonds	Level 2	$	2,925	$	—

Liabilities:
Derivative instruments liability included in accrued expenses and other current liabilities:
Options and forward contracts designated as hedging instruments	Level 2	$	120	$	—

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table sets forth a summary of the changes in the fair value of the warrants to purchase preferred and common stock:


	Year Ended December 31,
	2021		2020

Balance at January 1	$	56,780	$	17,111
Issuance of warrants	—		1,221
Reclassification of warrant to common stocks to equity	—		(3,057)
Reclassification of warrant to preferred stocks to mezzanine equity	(1,149)		—
Change in fair value of warrants	15,046		41,505
Conversion of warrants to common stock upon initial public offering	(70,677)		—

Balance at December 31,	$	—	$	56,780

On February 3, 2021, SVB Financial Group (“SVB”) converted a Warrant t

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The effect of foreign currency contracts on the consolidated statements of operations during the year ended December 31, 2022 was as follows:


Statement of Operations Location:	Year Ended December 31, 2022

Cost of revenue	$	230
Research and development	727
Sales and marketing	190
General and administrative	249
Restructuring	22

Total	$	1,418

Leases, Codification Topic 842 (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lease, Cost

Components of operating lease expense were as follows:


	Year Ended December 31, 2022

Operating lease cost	$	2,827
Short-term lease cost	417
Variable lease cost	20

Total	$	3,264

Supplementary cash flow information related to operating leases [Table]

Supplementary cash flow information related to operating leases was as follows:


	Year Ended December 31, 2022

Cash paid for operating leases	$	1,845

Lessee, Operating Lease, Liability, Maturity

Maturities of the Company’s operating lease liabilities as of December 31, 2022 were as follows:


Year Ending December 31,

2023	$	3,206
2024	3,131
2025	3,188
2026	3,250
2027	2,817
2028 and thereafter	11,372
Total operating lease payments	26,964
Less: imputed interest	3,912
Total operating lease liabilities	$	23,052

Schedule of Future Minimum Rental Payments for Operating Leases

As of December 31, 2021, the minimum lease payments under operating leases, including payments for leases which had not commenced, were as follows:


Year Ending December 31,	Rental of premises

2022	$	1,317
2023	788
2024	806
2025	862
2026	919
2027	548

Total	$	5,240

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Contractual Obligation, Fiscal Year Maturity

The following table presents details of the aggregate future non-cancelable purchase commitments under such agreements as of December 31, 2022:


Year ended December 31,

2023	13,592
2024	14,552
2025	13,093
2026	14,250

Total purchase commitment	$	55,487

Comprehensive Text Block List (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Schedule of prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following:


	December 31,
	2022		2021

Prepaid expenses	$	3,369	$	3,858
Government institutions	422		576
Restricted bank deposits	2,600		—
Other current assets	1,130		676

	$	7,521	$	5,110

Property, Plant and Equipment

Composition of property and equipment is as follows:


	December 31,
	2022		2021
Cost:
Computers and peripheral equipment	$	4,323	$	3,668
Office furniture and equipment	551		745
Leasehold improvements	1,965		513
Finance leases of computers and peripheral equipment	253		253
Internal use software	12,095		6,980

	19,187		12,159

Accumulated depreciation	(4,045)		(2,656)

Depreciated cost	$	15,142	$	9,503

Schedule of Other Assets, Noncurrent


	December 31,
	2022		2021

Restricted cash	$	1,208	$	422
Severance pay fund	1,855		1,968
Other	113		153

	$	3,176	$	2,543

Schedule of Accrued Liabilities


	December 31,
	2022		2021

Accrued expenses	$	7,471	$	7,240
Accrued taxes	7,966		9,525
Derivative instruments	120		—
Other current liabilities	970		1,731

	$	16,527	$	18,496

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The carrying amounts and accumulated amortization expenses of the intangible assets, as of December 31, 2022, and December 31, 2021, were as follows:


	December 31, 2022
	Weighted average remaining useful life (in years)	Balance
Gross carrying amount:
Technology	2.25	$	4,700
Customer relationship	5.25	$	2,419
Tradename	0.42	$	980

		$	8,099
Accumulated amortization and impairments:
Technology		$	(3,749)
Customer relationship		$	(2,203)
Tradename		$	(903)

		$	(6,855)

Intangible assets, net		$	1,244


	December 31, 2021
	Weighted average remaining useful life (in years)	Balance
Gross carrying amount:
Technology	3.25	$	4,700
Customer relationship	3.87	2,419
Tradename	1.42	980

		8,099
Accumulated amortization and impairments
Technology		(3,323)
Customer relationship		(2,049)
Tradename		(818)

		(6,190)

Intangible assets, net		$	1,909

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated future amortization expense of intangible assets as of December 31, 2022, is as follows:


	December 31,


2023	555
2024	478
2025	148
2026	50
2027	13

	$	1,244

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Loss before taxes on income is comprised as follows:


	Year Ended December 31,
	2022		2021		2020

Domestic	$	66,346	$	75,259	$	67,540
Foreign	(5,719)		(22,478)		(12,330)

Loss before taxes on income	$	60,627	$	52,781	$	55,210

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes was as follows:


	Year Ended December 31,
	2022		2021		2020

Federal	$	—	$	—	$	—
State	88		65		57
Foreign	7,780		6,505		3,496

Total provision for income taxes	$	7,868	$	6,570	$	3,553

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company's deferred tax assets are as follows:


	December 31,
	2022		2021

Deferred tax assets:

Net operating losses carryforward	$	71,887	$	76,950
Disallowed business interest expense	$	4,760	$	4,404
Capitalized R&D costs	16,322		—
Reserves & accruals	1,489		1,762
Deferred revenue	283		205
Lease liability	1,009		—
Stock based compensation	2,710		481
Other assets	49		—

Deferred tax assets before valuation allowance	98,509		83,802
Valuation allowance	(84,795)		(75,051)

Total deferred tax assets	$	13,714	$	8,751

Deferred tax liabilities:

Acquired Intangible Assets	(798)		(696)
Deferred contract acquisition and fulfillment costs	(8,782)		(6,607)
Internal use software	(3,073)		(1,418)
Operating lease right-of-use assets	(923)		—
Property and equipment	(138)		(30)

Total deferred tax liabilities	$	(13,714)	$	(8,751)

Total net deferred tax assets	$	—	$	—

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the Company's theoretical income tax expense to actual income tax expense is as follows:


	Year Ended December 31,
	2022			2021			2020

Loss before tax as reported at the consolidated statement of operations	$	60,627		$	52,781		$	55,210

Statutory tax rate	21		%	21		%	21		%

Theoretical tax benefit	$	12,732		$	11,084		$	11,594

Non-deductible expenses and other permanent differences	154			403			269
Remeasurement of warrants to Fair Value	—			3,160			8,716
Stock based compensation	2,193			3,651			1,081
Change in valuation allowance	9,745			13,232			3,300
State taxes, net of federal benefit	4,946			(3,700)			—
Income tax at rate other than the U.S. statutory tax rate	3,045			320			1,786
Exchange rate differences	332			(100)			(113)
Other	185			688			108

Total tax expenses	$	7,868		$	6,570		$	3,553

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the opening and closing amounts of total unrecognized tax benefits is as follows:


	Unrecognized Tax Benefits

Balance as of January 1, 2020	$	2,665

Increases related to prior years' tax positions	311
Increases related to current years' tax positions	887

Balance as of December 31, 2020	$	3,863

Decreases related to prior years' tax positions	(107)
Increases related to current years' tax positions	738

Balance as of December 31, 2021	4,494

Decreases related to prior years' tax positions	(313)
Increases related to current years' tax positions	1,145

Balance as of December 31, 2022	$	5,326

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented:


	Year Ended December 31,
	2022		2021		2020

Numerator:
Net loss	$	68,495	$	59,351	$	58,763
Preferred stock accretion and cumulative dividends	—		8,241		11,934

Total loss attributable to common stockholders	$	68,495	$	67,592	$	70,697
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	130,366,385		71,073,052		24,939,901

Net loss per share attributable to common stockholders, basic and diluted	$	0.53	$	0.95	$	2.83

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

nstruments potentially exercisable for common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive are as follows:


	Year Ended December 31,
	2022	2021	2020

Convertible and redeemable and convertible preferred stock	—	—	16,823,100
Warrants to purchase preferred and common stock	—	—	6,777,275
Outstanding stock options and RSUs	33,457,465	37,627,380	31,981,404

Total	33,457,465	37,627,380	55,581,779

REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Year Ended December 31, 2022
	Enterprise, Education and Technology		Media and Telecom		Total


Revenue	$	120,190	$	48,621	$	168,811

Gross profit	$	83,812	$	23,128	$	106,940

Operating expenses					163,319
Financial expenses, net					4,248
Provision for income taxes					7,868

Net loss					$	68,495


	Year Ended December 31, 2021
	Enterprise, Education and Technology		Media and Telecom		Total


Revenue	$	118,932	$	46,084	$	165,016

Gross profit	$	84,196	$	18,506	$	102,702

Operating expenses					135,377
Financial expenses, net					20,106
Provision for income taxes					6,570

Net loss					$	59,351

Revenue from External Customers by Geographic Areas

Total revenues from external customers on the basis of the Company's geographical areas are as follows:


	Year Ended December 31,
	2022		2021		2020

United States (“US”)	$	91,923	$	96,464	$	68,781
Europe, the Middle East and Africa (“EMEA”)	58,026		51,077		37,592
Other	18,862		17,475		14,067

	$	168,811	$	165,016	$	120,440

Schedule Of Long Lived Assets Based On Geographical Areas [Table Text Block]

The following table presents long-lived assets as of December 31, 2022 and 2021, based on geographical areas which consist of property and equipment, net and operating lease right-of-use assets:


	December 31,
	2022		2021

US	$	15,752	$	7,690
Israel	19,995		1,408
Rest of world	209		405

	$	35,956	$	9,503

LONG-TERM LOAN (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Maturities of Long-Term Debt

The aggregate principal annual maturities according to the Credit Facilities agreements are as follows:


Year ended December 31,


2023	6,000
2024	30,000

	$	36,000

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule Of Shares Of Common Stock Reserved For Future Issuance

The Company has the following common stock reserved for future issuance:


						December 31, 2022
Outstanding options						25,988,465
Outstanding RSUs						7,469,000
Shares reserved under 2021 Plan						5,492,262

Total						38,949,727

Share-Based Payment Arrangement, Activity

A summary of the Company's stock option activity with respect to options granted under the Plans is as follows:


	Number of Options	Weighted Average exercise price		Weighted remaining contractual term (years)	Aggregate Intrinsic Value

Outstanding as of January 1, 2022	32,702,963	$	3.98	8.34	$	38,894

Granted	—	$	—
Exercised	(4,393,437)	$	0.66		$	5,272
Forfeited	(2,321,061)	$	3.71

Outstanding as of December 31, 2022	25,988,465	$	4.56	7.75	$	6,285

Exercisable options at end of the year	16,618,550	$	2.29	7.57	$	6,230

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The fair value of each service-based award is estimated on the date of grant using the Black-Scholes model that uses the assumptions noted in the following table:


	2021	2020

Expected volatility	62%	50%
Risk-free interest rate	1.31% - 1.34%	0.4% - 0.8%
Dividend yield	—%	—%
Expected life	5.81	5.83

These assumptions and estimates were determined as follows:

Share-Based Payment Arrangement, Restricted Stock Unit, Activity

The following table summarizes the RSU activity for the year ended December 31, 2022:


	RSUs Outstanding	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2021	4,924,417	$4.38
RSUs granted	7,052,593	$1.92
RSUs vested	(2,632,633)	$3.20
RSUs forfeited	(1,875,377)	$3.43
Unvested and Outstanding as of December 31, 2022	7,469,000	$2.72

Share-Based Payment Arrangement, Cost by Plan

The stock-based compensation expense by line item in the accompanying consolidated statement of operations is summarized as follows:


	Year Ended December 31,
	2022		2021		2020

Cost of revenue	$	1,376	$	877	$	335
Research and development	4,268		2,798		1,251
Sales and marketing	3,711		2,173		1,639
General and administrative	14,290		11,217		1,889

Total expenses	$	23,645	$	17,065	$	5,114

SELECTED STATEMENT OF OPERATIONS DATA (Tables)

12 Months Ended

Dec. 31, 2022

Selected Statement Of Operations Data [Abstract]

Schedule of Other Nonoperating Income (Expense)


	Year Ended December 31,
	2022		2021		2020

Financial income:

Interest income	$	962	$	5	$	18

	962		5		18
Financial expenses:

Bank fees	160		530		370
Remeasurement of warrants to fair value	—		15,046		41,505
Interest expense	2,301		2,979		4,091
Foreign currency translation adjustments, net	1,959		1,136		666
Other	790		420		107

	5,210		20,111		46,739

Financial expenses, net	$	4,248	$	20,106	$	46,721

Comprehensive Text Block List (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in accumulated other comprehensive loss by component, net of tax, during the year ended December 31, 2022:


	Net Unrealized Losses on Available-for-Sale Securities Instruments		Net Unrealized Losses on Derivatives Designated as Hedging Instruments		Total

Balance as of December 31, 2021	$	—	$	—	$	—
Other comprehensive loss before reclassifications	(181)		(1,643)		(1,824)
Net realized losses reclassified from accumulated other comprehensive income	—		1,523		1,523
Other comprehensive loss	(181)		(120)		(301)
Balance as of December 31, 2022	$	(181)	$	(120)	$	(301)

Restructuring and Related Activities (Tables)

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Reserve by Type of Cost

The following table is a reconciliation of the beginning and ending restructuring liability for the year ended December 31, 2022, related to the 2022 Restructuring Plan:


	EE&T		M&T		Total
Balance as of December 31, 2021	$	—	$	—	$	—
Accrual and accrual adjustments	1,012		226		1,238
Cash payments	(739)		(224)		(963)
Balance as of December 31, 2022	$	273	$	2	$	275

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Severance Costs		$ 3,976	$ 3,937	$ 2,565
Defined Contribution Plan, Cost		3,099	3,108	2,061
Capitalized Computer Software, Additions		5,115	4,838	1,893
Advertising Expense		$ 5,767	$ 5,057	$ 3,143
Revenue, Major Customer [Line Items]
Increase In Total Assets And Liabilities Result Of Recognition Of Operating Lease Right Of Use Assets And Operating Lease Liabilities	$ 823
Computer Equipment
Property, Plant and Equipment, Useful Life		3 years
Office Equipment \| Minimum
Property, Plant and Equipment, Useful Life		7 years
Office Equipment \| Maximum
Property, Plant and Equipment, Useful Life		15 years
Leasehold Improvements
Property, Plant and Equipment, Estimated Useful Lives		Over the shorter of the related lease period or the life of the asset
Customer Relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		7 years
Customer Relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		9 years
Technology-Based Intangible Assets \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		5 years
Technology-Based Intangible Assets \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		8 years
Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		10 years
Media and Telecom \| Sales \| Customer Concentration Risk
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage		0.00%	0.00%	11.60%

REVENUES FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 168,811	$ 165,016	$ 120,440
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 171,660
Revenue, Remaining Performance Obligation, Percentage	60.00%
Capitalized Contract Cost [Line Items]
Amortization of deferred contract acquisition and fulfillment costs	$ 10,865	8,075	4,231
Deferred contract acquisition and fulfillment costs, current	10,759	9,079
Deferred contract acquisition and fulfillment costs, noncurrent	21,691	22,621
Enterprise, Education & Technology
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	120,190	118,932	80,449
Media and Telecom
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	48,621	46,084	39,991
Revenue Benchmark \| Revenue from Rights Concentration Risk \| Enterprise, Education & Technology
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 120,190	$ 118,932	$ 80,449
Concentration Risk, Percentage	100.00%	100.00%	100.00%
Revenue Benchmark \| Revenue from Rights Concentration Risk \| Media and Telecom
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 46,084	$ 39,991
Concentration Risk, Percentage	100.00%	100.00%	100.00%
Sales \| Revenue from Rights Concentration Risk \| Media and Telecom
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 48,621
Subscription [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	152,480	$ 144,966	$ 104,064
Subscription [Member] \| Revenue Benchmark \| Revenue from Rights Concentration Risk \| Enterprise, Education & Technology
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 113,551	$ 108,842	$ 74,473
Concentration Risk, Percentage	94.50%	91.50%	92.60%
Subscription [Member] \| Revenue Benchmark \| Revenue from Rights Concentration Risk \| Media and Telecom
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 36,124	$ 29,591
Concentration Risk, Percentage	80.10%	78.40%	74.00%
Subscription [Member] \| Sales \| Revenue from Rights Concentration Risk \| Media and Telecom
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 38,929
Professional Services
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	16,331	$ 20,050	$ 16,376
Professional Services \| Revenue Benchmark \| Revenue from Rights Concentration Risk \| Enterprise, Education & Technology
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 6,639	$ 10,090	$ 5,976
Concentration Risk, Percentage	5.50%	8.50%	7.40%
Professional Services \| Revenue Benchmark \| Revenue from Rights Concentration Risk \| Media and Telecom
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 9,692	$ 9,960	$ 10,400
Concentration Risk, Percentage	19.90%	21.60%	26.00%
Costs To Obtain Contract [Member]
Capitalized Contract Cost [Line Items]
Beginning balance	$ 26,274	$ 17,683	$ 9,015
Additions to deferred contract acquisition costs during the period	10,037	15,594	11,997
Amortization of deferred contract acquisition and fulfillment costs	(9,383)	(7,003)	(3,329)
Deferred contract acquisition and fulfillment costs, current	8,979	7,671	4,788
Deferred contract acquisition and fulfillment costs, noncurrent	17,949	18,603	12,895
Ending balance	26,928	26,274	17,683
Total deferred costs to obtain a contract	26,928	26,274	17,683
Costs To Fulfill Contract [Member]
Capitalized Contract Cost [Line Items]
Beginning balance	5,426	4,041	3,993
Additions to deferred contract acquisition costs during the period	1,578	2,457	950
Amortization of deferred contract acquisition and fulfillment costs	(1,482)	(1,072)	(902)
Deferred contract acquisition and fulfillment costs, current	1,780	1,408	1,060
Deferred contract acquisition and fulfillment costs, noncurrent	3,742	4,018	2,981
Ending balance	5,522	5,426	4,041
Total deferred costs to obtain a contract	5,522	$ 5,426	$ 4,041
Billed Revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	61,107
Unbilled Revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 110,553

Investments, Debt and Equity Securities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Debt Securities, Available-for-Sale [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	$ 41,524
Available-for-sale - maturities within one year, Gross unrealized gains	1
Available-for-sale - matures within one year, Gross unrealized losses	(182)
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	41,343
Corporate Bond Securities
Debt Securities, Available-for-Sale [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	9,305
Available-for-sale - maturities within one year, Gross unrealized gains	0
Available-for-sale - matures within one year, Gross unrealized losses	(66)
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	9,239
Municipal Bonds
Debt Securities, Available-for-Sale [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	1,751
Available-for-sale - maturities within one year, Gross unrealized gains	0
Available-for-sale - matures within one year, Gross unrealized losses	(4)
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	1,747
US Treasury Securities
Debt Securities, Available-for-Sale [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	16,306
Available-for-sale - maturities within one year, Gross unrealized gains	0
Available-for-sale - matures within one year, Gross unrealized losses	(111)
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	16,195
Commercial Paper
Debt Securities, Available-for-Sale [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	11,237
Available-for-sale - maturities within one year, Gross unrealized gains	0
Available-for-sale - matures within one year, Gross unrealized losses	0
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	11,237
Agency Securities
Debt Securities, Available-for-Sale [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	2,925
Available-for-sale - maturities within one year, Gross unrealized gains	1
Available-for-sale - matures within one year, Gross unrealized losses	(1)
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	$ 2,925

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands		12 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Feb. 03, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure		$ 120
Warrants and Rights Outstanding Beginning Balance		0	$ 56,780	$ 17,111
Proceeds from Issuance of Warrants			0	1,221
Temporary Equity, Stock Issued During Period, Value, New Issues			(1,149)	0
Reclassification to equity of warrant to common stock			0	(3,057)
Change in valuation of warrants to purchase preferred and common stock		0	15,046	41,505
Conversion of warrants to common stock upon initial public offering		$ 0	(70,677)	0
Warrants and Rights Outstanding Ending Balance			0	$ 56,780
Number Of Warrants Converted	31,414
Issuance of preferred stock upon exercise of warrants (in Shares)	27,011
Stock issued during period, shares, conversion of warrants to common stock (in Shares)		7,067,699
Fair Value, Inputs, Level 2 \| Fair Value, Recurring \| Corporate Bond Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale		$ 9,239	0
Fair Value, Inputs, Level 2 \| Fair Value, Recurring \| Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale		1,747	0
Fair Value, Inputs, Level 2 \| Fair Value, Recurring \| US Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale		16,195	0
Fair Value, Inputs, Level 2 \| Fair Value, Recurring \| Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale		11,237	0
Fair Value, Inputs, Level 2 \| Fair Value, Recurring \| Agency Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale		2,925	0
Fair Value, Inputs, Level 2 \| Fair Value, Recurring \| Derivative \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure		120	0
Money Market Funds \| Fair Value, Inputs, Level 1 \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure		$ 16,489	$ 0

Derivative Instruments and Hedging Activities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative, Notional Amount	$ 8,345
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	1,418
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	1,418
Cost of Sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 230
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold
Research and Development Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 727
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Research and Development Expense
Selling and Marketing Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 190
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling and Marketing Expense
General and Administrative Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 249
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	General and Administrative Expense
Restructuring Charges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 22
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Costs

Leases, Codification Topic 842 (Details) $ in Thousands	12 Months Ended
Leases, Codification Topic 842 (Details) $ in Thousands	Dec. 31, 2022 USD ($) ft²	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jun. 22, 2022 USD ($)	Jan. 11, 2022 USD ($)
Leases [Abstract]
Operating lease right-of-use assets	$ 20,814	$ 0		$ 19,586	$ 4,108
Operating lease cost	2,827
Short-term lease cost	417
Variable lease cost	20
Total	$ 3,264
Operating Leases, Rent Expense, Net		2,278	$ 2,152
Operating Lease, Weighted Average Discount Rate, Percent	4.80%
Cash paid for operating leases	$ 1,845
Operating Lease, Weighted Average Remaining Lease Term	9 years
2023	$ 3,206
2024	3,131
2025	3,188
2026	3,250
2027	2,817
2028 and thereafter	11,372
Lessee, Operating Lease, Liability, to be Paid, Total	26,964
Less: imputed interest	3,912
Total operating lease liabilities	$ 23,052
2022		1,317
2023		788
2024		806
2025		862
2026		919
2027		548
Total		$ 5,240
UNITED STATES
Lessee, Lease, Description [Line Items]
Area of Land \| ft²	13,815
ISRAEL
Lessee, Lease, Description [Line Items]
Area of Land \| ft²	63,784

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023	$ 13,592
2024	14,552
2025	13,093
2026	14,250
Total purchase commitment	$ 55,487

Comprehensive Text Block List (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Text Block [Abstract]
Prepaid Expense	$ 3,369	$ 3,858
Other Receivables, Net, Current	422	576
Other Short-Term Investments	2,600	0
Other Assets, Current	1,130	676
Prepaid expenses and other current assets	$ 7,521	$ 5,110

CONSOLIDATED BALANCE SHEET COMPONENTS (Details 2 PPE) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 19,187	$ 12,159
Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment, Period Increase (Decrease)	(4,045)	(2,656)
Property and equipment, net	15,142	9,503
Computer Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	4,323	3,668
Office Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	551	745
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,965	513
Software Development
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	12,095	6,980
Leaseholds and Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 253	$ 253

CONSOLIDATED BALANCE SHEET COMPONENTS (Details PPE Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Text Block [Abstract]
Depreciation	$ 2,042	$ 1,407	$ 2,791
Loss (gain) on sale of property and equipment	(185)	$ 757	$ 0
Property, Plant and Equipment, Disposals	826
Accumulated Depreciation, Depletion and Amortization, Sale or Disposal of Property, Plant and Equipment	$ 641

CONSOLIDATED BALANCE SHEET COMPONENTS (Details 3 Other Assets) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Text Block [Abstract]
Restricted cash included in other assets, noncurrent	$ 1,208	$ 422	$ 644
Severance pay fund	1,855	1,968
Other Assets, Miscellaneous, Noncurrent	113	153
Other assets, noncurrent	$ 3,176	$ 2,543

CONSOLIDATED BALANCE SHEET COMPONENTS (Details 4 Accrued Expenses) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Text Block [Abstract]
Accrued Liabilities, Current	$ 7,471	$ 7,240
Accrued Income Taxes	7,966	9,525
Derivative Liability, Current	120	0
Other Accrued Liabilities, Current	970	1,731
Accrued expenses and other current liabilities	$ 16,527	$ 18,496

GOODWILL AND INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 8,099	$ 8,099
Finite-Lived Intangible Assets, Accumulated Amortization	(6,855)	(6,190)
Finite-Lived Intangible Assets, Net	1,244	1,909
Amortization of Intangible Assets	665	1,005	$ 917
Finite-Lived Intangible Asset, Expected Amortization, Year One	555
Finite-Lived Intangible Asset, Expected Amortization, Year Two	478
Finite-Lived Intangible Asset, Expected Amortization, Year Three	148
Finite-Lived Intangible Asset, Expected Amortization, Year Four	50
Finite-Lived Intangible Asset, Expected Amortization, Year Five	13
Goodwill [Line Items]
Goodwill	11,070	$ 11,070
Media and Telecom
Goodwill [Line Items]
Goodwill	9,381
Enterprise, Education & Technology
Goodwill [Line Items]
Goodwill	$ 1,689
Technology-Based Intangible Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	2 years 3 months	3 years 3 months
Finite-Lived Intangible Assets, Gross	$ 4,700	$ 4,700
Finite-Lived Intangible Assets, Accumulated Amortization	$ (3,749)	$ (3,323)
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	5 years 3 months	3 years 10 months 13 days
Finite-Lived Intangible Assets, Gross	$ 2,419	$ 2,419
Finite-Lived Intangible Assets, Accumulated Amortization	$ (2,203)	$ (2,049)
Trade Names
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	5 months 1 day	1 year 5 months 1 day
Finite-Lived Intangible Assets, Gross	$ 980	$ 980
Finite-Lived Intangible Assets, Accumulated Amortization	$ (903)	$ (818)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income (Loss) from Continuing Operations before Income Taxes, Domestic	$ 66,346	$ 75,259	$ 67,540
Income (Loss) from Continuing Operations before Income Taxes, Foreign	(5,719)	(22,478)	(12,330)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	60,627	52,781	55,210
Federal Income Tax Expense (Benefit), Continuing Operations	0	0	0
State and Local Income Tax Expense (Benefit), Continuing Operations	88	65	57
Foreign Income Tax Expense (Benefit), Continuing Operations	7,780	6,505	3,496
Income Tax Expense (Benefit)	7,868	6,570	$ 3,553
Deferred Tax Assets, Operating Loss Carryforwards	71,887	76,950
Disallowed Business Interest Expense	4,760	4,404
Deferred tax assets, Capitalized R&D Costs	16,322	0
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals	1,489	1,762
Deferred Tax Assets, Deferred Income	283	205
Deferred Tax Assets Tax Deferred Expense Operating Lease Liabilities	1,009	0
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-Based Compensation Cost	2,710	481
Deferred Tax Assets, Tax Deferred Expense, Other	49	0
Deferred Tax Assets, Gross	98,509	83,802
Deferred Tax Assets, Valuation Allowance	(84,795)	(75,051)
Deferred Tax Assets, Net of Valuation Allowance	13,714	8,751
Deferred Tax Liabilities, Other Finite-Lived Assets	(798)	(696)
Deferred Tax Liabilities, Deferred Expense, Deferred Policy Acquisition Cost	(8,782)	(6,607)
Deferred Tax Liabilities, Deferred Expense, Capitalized Software	(3,073)	(1,418)
Deferred Tax Assets Tax Deferred Expense Operating Lease Right-Of-Use Assets	(923)	0
Deferred Tax Liabilities, Property, Plant and Equipment	(138)	(30)
Deferred Tax Liabilities, Net	(13,714)	(8,751)
Deferred Tax Assets, Net	$ 0	$ 0

INCOME TAXES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward, Amount	$ 108,401
Domestic Destination
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	277,496	$ 169,095
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 172,429

INCOME TAXES (Details 2) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ 60,627	$ 52,781	$ 55,210
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount	$ 12,732	$ 11,084	$ 11,594
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount	154	403	269
Effective Income Tax Rate Reconciliation, Remeasurement Of Warrants To Fair Value, Amount	0	3,160	8,716
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-Based Payment Arrangement, Amount	2,193	3,651	1,081
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	9,745	13,232	3,300
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	4,946	(3,700)	0
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount	3,045	320	1,786
Exchange rate differences	332	(100)	(113)
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	185	688	108
Income Tax Expense (Benefit)	$ 7,868	$ 6,570	$ 3,553

INCOME TAXES (Details 3) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 3) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	2300.00%
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount	$ (12,732)	$ (11,084)	$ (11,594)
Beneficiary Enterprise [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount	$ 536

INCOME TAXES (Details 4) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 4) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	$ 5,326	$ 4,494	$ 3,863	$ 2,665
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(313)	(107)
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions			311
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	$ 1,145	$ 738	$ 887

INCOME TAXES (Details 5) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 5) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	$ 467	$ 313

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent	$ 68,495	$ 59,351	$ 58,763
Preferred stock accretion and cumulative dividends	0	8,241	11,934
Total loss attributable to common stockholders	$ 68,495	$ 67,592	$ 70,697
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	130,366,385	71,073,052	24,939,901
Earnings Per Share, Basic	$ 0.53	$ 0.95	$ 2.83
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	33,457,465	37,627,380	55,581,779
Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	16,823,100
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	6,777,275
Employee Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	33,457,465	37,627,380	31,981,404

REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 168,811	$ 165,016	$ 120,440
Gross Profit	106,940	102,702	72,775
Operating Expenses	163,319	135,377	81,264
Nonoperating Income (Expense)	4,248	20,106	46,721
Income Tax Expense (Benefit)	7,868	6,570	3,553
Net Income (Loss) Attributable to Parent	68,495	59,351	58,763
Enterprise, Education & Technology
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	120,190	118,932	80,449
Gross Profit	83,812	84,196	58,539
Media and Telecom
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	48,621	46,084	39,991
Gross Profit	$ 23,128	$ 18,506	$ 14,236

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
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-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 168,811	$ 165,016	$ 120,440
UNITED STATES
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	91,923	96,464	68,781
EMEA
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	58,026	51,077	37,592
Other Countries [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 18,862	$ 17,475	$ 14,067

- Definition

+ References

+ Details

REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION (Details 3) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Long-Lived Assets	$ 35,956	$ 9,503
UNITED STATES
Segment Reporting Information [Line Items]
Long-Lived Assets	15,752	7,690
ISRAEL
Segment Reporting Information [Line Items]
Long-Lived Assets	19,995	1,408
Other Countries [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	$ 209	$ 405

LONG-TERM LOAN (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2021	Jan. 31, 2021
Term Loan Facility [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount			$ 40,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount			$ 10,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 35,000
Amendment To Credit Agreement [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount		$ 12,500

LONG-TERM LOAN (Details 2)	12 Months Ended
LONG-TERM LOAN (Details 2)	Dec. 31, 2022 Rate
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate at Period End	8.23%
Line of Credit Facility, Interest Rate at Period End	8.23%
Eurodollar
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Debt Instrument, Floor Rate	1.00%
Line of Credit Facility, Interest Rate at Period End	3.50%
Line of Credit Facility, Interest Rate at Period End	3.50%
Alternate Base Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Federal Funds Effective Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Debt Instrument, Floor Rate	2.00%
London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate at Period End	4.73%
Line of Credit Facility, Interest Rate at Period End	4.73%

LONG-TERM LOAN (Details 3) $ in Thousands	12 Months Ended
LONG-TERM LOAN (Details 3) $ in Thousands	Dec. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Debt Instrument, Frequency of Periodic Payment	quarterly
On April 01, 2021, Through December 31, 2021 [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Periodic Payment	$ 250
On March 31, 2022 Through December 31, 2022 [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Periodic Payment	750
On And After March 31, 2023 [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Periodic Payment	$ 1,500

LONG-TERM LOAN (Details 4) $ in Thousands	Dec. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Long-Term Debt, Maturity, Year One	$ 6,000
Long-Term Debt, Maturity, Year Two	30,000
Long-Term Debt	$ 36,000

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

STOCKHOLDERS' EQUITY (Details 1 Preferred Stock) - $ / shares	12 Months Ended
	Dec. 31, 2022	Aug. 07, 2022
Equity [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Weighted average fair value of market-based awards granted per option	$ 2.26

STOCKHOLDERS' EQUITY (Details 2 Common Stock)	Dec. 31, 2022 $ / shares shares
Equity [Abstract]
Common Stock, Shares Authorized \| shares	1,000,000,000
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.0001

STOCKHOLDERS' EQUITY (Details 3 Common Stock Future Issuance) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Oct. 06, 2022
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	38,949,727
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	38,949,727
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			613,255
Stock issued during period, shares, conversion of warrants to common stock (in Shares)	7,067,699
Stock issued during period, shares, conversion of warrants to common stock (in Shares)	7,067,699
Common Stock
Class of Stock [Line Items]
Stock issued during period, shares, conversion of warrants to common stock (in Shares)	613,255	7,067,699,000
Stock issued during period, shares, conversion of warrants to common stock (in Shares)	613,255	7,067,699,000
2021 Plan
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	5,492,262
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	5,492,262
Employee Stock
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	25,988,465
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	25,988,465
Restricted Stock
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	7,469,000
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	7,469,000

STOCKHOLDERS' EQUITY (Details 4 Equity Incentive Plans)	12 Months Ended
STOCKHOLDERS' EQUITY (Details 4 Equity Incentive Plans)	Dec. 31, 2022 $ / shares Rate
Class of Stock [Line Items]
Share based payment arrangement plan increase of authorized shares as a percentage of outstanding shares \| Rate	5.00%
2020 Plan
Class of Stock [Line Items]
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price \| $ / shares	$ 13.34

STOCKHOLDERS' EQUITY (Details 4 Equity Incentive Plans Text) - shares		12 Months Ended
	Jan. 01, 2022	Dec. 31, 2022
Equity [Abstract]
Share based payment arrangement plan increase of authorized shares as a percentage of outstanding shares		5.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized	6,346,255

STOCKHOLDERS' EQUITY (Details 5 Options Table) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	25,988,465	32,702,963
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number	16,618,550
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 5,272	$ 5,437	$ 8,842
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 0.66
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	(4,393,437)
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price	$ 3.71
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period	(2,321,061)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 4.56	$ 3.98
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 2.29
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	7 years 9 months	8 years 4 months 2 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	7 years 6 months 25 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value	$ 6,285	$ 38,894
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value	$ 6,230

STOCKHOLDERS' EQUITY (Details 6 Assumptions)	12 Months Ended
STOCKHOLDERS' EQUITY (Details 6 Assumptions)	Dec. 31, 2021 Rate	Dec. 31, 2020 Rate
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate		0.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term		5 years 9 months 29 days
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate		0.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term		5 years 9 months 29 days
Black Scholes Model [Member]
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	1.31%	0.40%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	5 years 9 months 21 days
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	62.00%	50.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	1.31%	0.40%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	1.34%	0.80%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	5 years 9 months 21 days
Monte Carlo Model [Member]
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	41.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	0.94%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%

STOCKHOLDERS' EQUITY (Details 7 Textuals) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.00%
Weighted average fair value of market-based awards granted per option	$ 2.26
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value	$ 12,763	$ 13,152	$ 3,615
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 2.45	$ 3.80
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 5,272	$ 5,437	$ 8,842
Black Scholes Model [Member]
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate		62.00%	50.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum		1.31%	0.40%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum		1.34%	0.80%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate		0.00%
Monte Carlo Model [Member]
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate		41.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum		0.94%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate		0.00%

STOCKHOLDERS' EQUITY (Details 8 RSUs) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number	7,469,000	4,924,417
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	7,052,593
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period	(2,632,633)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(1,875,377)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 1.92	$ 4.38
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	3.20
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	3.43
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 2.72

STOCKHOLDERS' EQUITY (Details 9 SBC Expense) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement, Expense	$ 23,645	$ 17,065	$ 5,114
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	41,374
Cost of Sales
Share-Based Payment Arrangement, Expense	1,376	877	335
Research and Development Expense
Share-Based Payment Arrangement, Expense	4,268	2,798	1,251
Selling and Marketing Expense
Share-Based Payment Arrangement, Expense	3,711	2,173	1,639
General and Administrative Expense
Share-Based Payment Arrangement, Expense	$ 14,290	$ 11,217	$ 1,889

STOCKHOLDERS' EQUITY (Details 10 Rights Agreement) - $ / shares	Dec. 31, 2022	Aug. 07, 2022
Equity [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 13

SELECTED STATEMENT OF OPERATIONS DATA (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial income:
Financial income	$ 962	$ 5	$ 18
Financial expenses:
Bank fees	160	530	370
Change in valuation of warrants to purchase preferred and common stock	0	15,046	41,505
Interest Expense	2,301	2,979	4,091
Foreign Currency Transaction Loss, before Tax	1,959	1,136	666
Other Nonoperating Expense	790	420	107
Financial expenses	5,210	20,111	46,739
Nonoperating Income (Expense)	4,248	20,106	46,721
Interest Income, Deposits with Financial Institutions	$ 962	$ 5	$ 18

Comprehensive Text Block List (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated other comprehensive loss	$ (301)	$ 0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(1,824)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	1,523
Other Comprehensive Income (Loss), Net of Tax	(301)	0	$ 0
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent
Accumulated other comprehensive loss	(181)	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(181)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0
Other Comprehensive Income (Loss), Net of Tax	(181)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated other comprehensive loss	(120)	$ 0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(1,643)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	1,523
Other Comprehensive Income (Loss), Net of Tax	$ (120)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

Restructuring and Related Activities (Details) - USD ($) $ in Thousands			12 Months Ended
	Jan. 03, 2023	Aug. 07, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent		10.00%
Restructuring Costs			$ 1,238	$ 0	$ 0
Restructuring Reserve			275	0
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve			275	0
Restructuring Costs and Asset Impairment Charges			1,238
Payments for Restructuring			(963)
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent		10.00%
Subsequent Event
Restructuring and Related Activities [Abstract]
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent	11.00%
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent	11.00%
Restructuring Charges	$ 1,000
Enterprise, Education & Technology
Restructuring and Related Activities [Abstract]
Restructuring Reserve			273	0
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve			273	0
Restructuring Costs and Asset Impairment Charges			1,012
Payments for Restructuring			(739)
Media and Telecom
Restructuring and Related Activities [Abstract]
Restructuring Reserve			2	0
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve			2	$ 0
Restructuring Costs and Asset Impairment Charges			226
Payments for Restructuring			$ (224)