0001432133-24-000088 | 10-K | XBRL Viewer

STOCKHOLDERS' EQUITY (Details 3 Common Stock Future Issuance) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number			37,653,460
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number			37,653,460
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			3,521,137
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number			3,521,137
Employee Stock
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number			22,933,058
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number			22,933,058
Restricted Stock
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number			11,199,265
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number			11,199,265

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

CONSOLIDATED BALANCE SHEET COMPONENTS (Details 2 PPE) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 27,260	$ 19,187
Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment, Period Increase (Decrease)	(7,147)	(4,045)
Property and equipment, net	20,113	15,142
Computer Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	3,802	4,323
Office Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,183	551
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	7,267	1,965
Software Development
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	13,755	12,095
Leaseholds and Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 253	$ 253

REVENUES FROM CONTRACTS WITH CUSTOMERS

12 Months Ended

Dec. 31, 2023

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, 2023
	Enterprise, Education and Technology				Media and Telecom
	Amount		Percentage of revenue		Amount		Percentage of revenue

Subscription	$	120,600	96.4	%	$	42,150	84.3	%
Professional services	4,554		3.6	%	7,868		15.7	%

	$	125,154	100	%	$	50,018	100	%


	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	%

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, 2023, was recognized as revenue during 2023.

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, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $185,305, which consists of both billed consideration in the amount of $62,733 and unbilled consideration in the amount of $122,572 that the Company expects to recognize as revenue and was not yet recognized on the balance sheet. The Company expects to recognize 59% of its remaining performance obligations as revenue in the year ending December 31, 2024, and the remainder thereafter.

Costs to Obtain a Contract

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


	December 31,
	2023		2022		2021

Beginning balance	$	26,928	$	26,274	$	17,683
Additions to deferred contract acquisition costs during the period	7,237		10,037		15,594
Amortization of deferred contract acquisition costs	(9,955)		(9,383)		(7,003)

Ending balance	$	24,210	$	26,928	$	26,274

Deferred contract acquisition costs, current	$	9,063	$	8,979	$	7,671
Deferred contract acquisition costs, noncurrent	15,147		17,949		18,603

Total deferred costs to obtain a contract	$	24,210	$	26,928	$	26,274

Costs to Fulfill a Contract

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


	December 31,
	2023		2022		2021

Beginning balance	$	5,522	$	5,426	$	4,041
Additions to deferred costs to fulfill a contract during the period	—		1,578		2,457
Amortization of deferred costs to fulfill a contract	(1,782)		(1,482)		(1,072)

Ending balance	$	3,740	$	5,522	$	5,426

Deferred fulfillment costs, current	$	1,573	$	1,780	$	1,408
Deferred fulfillment costs, noncurrent	2,167		3,742		4,018

Total deferred costs to fulfill a contract	$	3,740	$	5,522	$	5,426

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//606/tableOfContent

+ Details

Derivative Instruments and Hedging Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative, Notional Amount	$ 15,093	$ 8,345
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	(2,241)	(1,418)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	2,241	1,418
Derivative Asset, Current	998	0
Derivative Liability, Current	0	120
Cost of Sales \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 326	230
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold
Research and Development Expense \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 1,182	727
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Research and Development Expense
Selling and Marketing Expense \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 278	190
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling and Marketing Expense
General and Administrative Expense \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 427	249
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	General and Administrative Expense
Restructuring Charges \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 28	$ 22
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Costs

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase Obligation, to be Paid, Year One	$ 31,313
Purchase Obligation, to be Paid, Year Two	26,745
Purchase Obligation, to be Paid, Year Three	28,471
Purchase Obligation, Total	$ 86,529

LONG-TERM LOAN (Details 4) - USD ($) $ in Thousands	Dec. 31, 2023	Jan. 31, 2021
Line of Credit Facility [Line Items]
Long-Term Debt, Maturity, Year One	$ 2,406
Long-Term Debt, Maturity, Year Two	3,281
Long-Term Debt, Maturity, Year Three	29,313
Term Loan Facility [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 35,000	$ 40,000

SELECTED STATEMENT OF OPERATIONS DATA

12 Months Ended

Dec. 31, 2023

Selected Statement Of Operations Data [Abstract]

Condensed Financial Statements

NOTE 16: SELECTED STATEMENT OF OPERATIONS DATA


	Year Ended December 31,
	2023		2022		2021

Financial income:

Interest income	$	2,735	$	962	$	5
Foreign currency translation adjustments, net	2,169		—		—

	4,904		962		5
Financial expenses:

Bank fees	153		160		530
Remeasurement of warrants to fair value	—		—		15,046
Interest expense	3,178		2,301		2,979
Foreign currency translation adjustments, net	—		1,959		1,136
Other	373		790		420

	3,704		5,210		20,111

Financial expenses (income), net	$	(1,200)	$	4,248	$	20,106

INCOME TAXES (Details 3) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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	$ 7,866	$ 12,732	$ 11,084
Beneficiary Enterprise [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount	$ 520

LONG-TERM LOAN (Details 2)	12 Months Ended
LONG-TERM LOAN (Details 2)	Dec. 31, 2023 Rate
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate at Period End	7.98%
Line of Credit Facility, Interest Rate at Period End	7.98%
Eurodollar
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Alternate Base Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.50%

CONSOLIDATED BALANCE SHEET COMPONENTS (Details 3 Other Assets) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Text Block [Abstract]
Restricted cash included in other assets, noncurrent	$ 100	$ 1,208	$ 422
Severance pay fund	1,685	1,855
Other Restricted Assets, Noncurrent	1,025	0
Other Assets, Miscellaneous, Noncurrent	290	113
Other assets, noncurrent	$ 3,100	$ 3,176

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Firm ID	1281
Auditor Name	KOST FORER GABBAY & KASIERER
Auditor Location	Tel-Aviv, Israel

INCOME TAXES (Details 5) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 5) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	$ 373	$ 467

LONG-TERM LOAN (Tables)

12 Months Ended

Dec. 31, 2023

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,


2024	$	2,406
2025	3,281
2026	29,313

	$	35,000

Restructuring and Related Activities (Details) - USD ($) $ in Thousands			12 Months Ended
	Jan. 03, 2023	Aug. 07, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent	11.00%	10.00%
Restructuring Costs			$ 973	$ 1,238	$ 0

GOODWILL AND INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 7,119	$ 8,099
Finite-Lived Intangible Assets, Accumulated Amortization	(6,430)	(6,855)
Finite-Lived Intangible Assets, Net	689	1,244
Amortization of Intangible Assets	555	665	$ 1,005
Finite-Lived Intangible Asset, Expected Amortization, Year One	478
Finite-Lived Intangible Asset, Expected Amortization, Year Two	148
Finite-Lived Intangible Asset, Expected Amortization, Year Three	50
Finite-Lived Intangible Asset, Expected Amortization, Year Four	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	1 year 3 months	2 years 3 months
Finite-Lived Intangible Assets, Gross	$ 4,700	$ 4,700
Finite-Lived Intangible Assets, Accumulated Amortization	$ (4,177)	$ (3,749)
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	3 years 3 months	5 years 3 months
Finite-Lived Intangible Assets, Gross	$ 2,419	$ 2,419
Finite-Lived Intangible Assets, Accumulated Amortization	$ (2,253)	$ (2,203)
Trade Names
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life		5 months 1 day
Finite-Lived Intangible Assets, Gross		$ 980
Finite-Lived Intangible Assets, Accumulated Amortization		$ (903)

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023, and December 31, 2022, were as follows:


	December 31, 2023
	Weighted average remaining useful life (in years)	Balance
Gross carrying amount:
Technology	1.25	$	4,700
Customer relationship	3.25	$	2,419

		$	7,119
Accumulated amortization and impairments:
Technology		$	(4,177)
Customer relationship		$	(2,253)

		$	(6,430)

Intangible assets, net		$	689


	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

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated future amortization expense of intangible assets as of December 31, 2023, is as follows:


	December 31,


2024	478
2025	148
2026	50
2027	13

	$	689

Leases, Codification Topic 842 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 13,872	$ 20,814
Operating lease cost	2,875	2,827
Short-term lease cost	154	417
Variable lease cost	89	20
Total	$ 3,118	3,264
Operating Lease, Weighted Average Discount Rate, Percent	4.80%
Cash paid for operating leases	$ 3,353	$ 1,845
Operating Lease, Weighted Average Remaining Lease Term	8 years 1 month 6 days
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 3,062
Lessee, Operating Lease, Liability, to be Paid, Year Two	3,119
Lessee, Operating Lease, Liability, to be Paid, Year Three	3,181
Lessee, Operating Lease, Liability, to be Paid, Year Four	2,749
Lessee, Operating Lease, Liability, to be Paid, Year Five	2,371
Lessee, Operating Lease, Liability, to be Paid, after Year Five	9,088
Lessee, Operating Lease, Liability, to be Paid, Total	23,570
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	3,400
Operating Lease, Liability	$ 20,170

CONSOLIDATED STATEMENTS OF CONVERTIBLE AND REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock	Receivables from Stockholder	Additional Paid-in Capital	Retained Earnings	Comprehensive Income	Treasury Stock, Common	Convertible Preferred Stock	Redeemable Convertible Preferred Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Common, Shares							7,685,190
Temporary Equity, Shares Outstanding, Beginning Balance at Dec. 31, 2020								1,043,778	15,779,322
Temporary Equity, Carrying Amount, Attributable to Parent, Beginning Balance at Dec. 31, 2020								$ 1,921	$ 158,191
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
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
Beginning Balance in Shares at Dec. 31, 2020		25,467,922
Stockholders' Equity Beginning Balance at Dec. 31, 2020	$ (260,656)	$ 2	$ (882)	$ 8,388	$ (263,283)	$ 0	$ (4,881)
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
Stockholders' Equity Ending Balance at Dec. 31, 2021	85,274	$ 13	0	412,776	(322,634)	0	$ (4,881)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Common, Shares							7,685,190
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
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)		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
Stockholders' Equity Ending Balance at Dec. 31, 2022	$ 43,346	$ 13	0	439,644	(391,129)	(301)	$ (4,881)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Common, Shares							7,685,190
Temporary Equity, Shares Outstanding, Ending Balance at Dec. 31, 2023								0	0
Temporary Equity, Carrying Amount, Attributable to Parent, Ending Balance at Dec. 31, 2023								$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	30,756			30,756
Stock Issued During Period, Value, Stock Options Exercised	$ 1,236			1,235
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	2,345,199
Stock Issued During Period, Value, Acquisitions		$ 1
Stock Issued During Period, Shares, Acquisitions		8,024,488
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	1,348					1,348
Net loss	$ (46,366)				(46,366)
Ending Balance in Shares at Dec. 31, 2023	142,588,917	142,588,917
Stockholders' Equity Ending Balance at Dec. 31, 2023	$ 30,320	$ 14	$ 0	$ 471,635	$ (437,495)	$ 1,047	$ (4,881)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Common, Shares	7,685,190						7,685,190

Investments, Debt and Equity Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	$ 32,672	$ 41,524
Available-for-sale - maturities within one year, Gross unrealized gains	30	1
Available-for-sale - matures within one year, Gross unrealized losses	(10)	(182)
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	32,692	41,343
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five	5,844
Available-for-sale - matures after one year, Gross unrealized losses	0
Available-for-sale - matures after one year, Gross unrealized gains	31
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five	5,813
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	6,985	9,305
Available-for-sale - maturities within one year, Gross unrealized gains	4	0
Available-for-sale - matures within one year, Gross unrealized losses	0	(66)
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	6,989	9,239
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five	2,958
Available-for-sale - matures after one year, Gross unrealized losses	0
Available-for-sale - matures after one year, Gross unrealized gains	14
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five	2,944
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	8,795	16,306
Available-for-sale - maturities within one year, Gross unrealized gains	17	0
Available-for-sale - matures within one year, Gross unrealized losses	0	(111)
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	8,812	16,195
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five	2,886
Available-for-sale - matures after one year, Gross unrealized losses	0
Available-for-sale - matures after one year, Gross unrealized gains	17
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five	2,869
Commercial Paper
Debt Securities, Available-for-Sale [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	8,855	11,237
Available-for-sale - maturities within one year, Gross unrealized gains	0	0
Available-for-sale - matures within one year, Gross unrealized losses	(5)	0
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	8,850	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	8,037	2,925
Available-for-sale - maturities within one year, Gross unrealized gains	9	1
Available-for-sale - matures within one year, Gross unrealized losses	(5)	(1)
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	$ 8,041	$ 2,925

Restructuring and Related Activities	12 Months Ended
Restructuring and Related Activities	Dec. 31, 2023
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. 2023 Reorganization Plan On January 3, 2023, 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 workforce and adapting the Company's organizational structure, roles, and responsibilities accordingly. During the year ended December 31, 2023, in connection with the 2023 Reorganization Plan, the Company recorded expenses of $973, all for one time employee termination benefits. The Company does not expect to incur additional costs related to the 2023 Reorganization Plan. As of December 31, 2023, the Company has paid its full obligations regarding all restructuring activities and therefore there is no additional balance to be paid.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (46,366)	$ (68,495)	$ (59,351)
Depreciation and amortization	4,717	2,707	2,412
Stock-based compensation expenses	29,980	23,645	17,065
Amortization of deferred contract acquisition and fulfillment costs	11,669	10,865	8,075
Change in valuation of warrants to purchase preferred and common stock	0	0	15,046
Non-cash interest expense (income), net	(1,023)	(146)	331
Non-cash expenses with respect to stockholders’ loans	0	0	882
Loss (gain) on sale of property and equipment	0	185	(757)
Loss (income) on foreign exchange	(728)	1,424	0
Decrease (increase) in trade receivables	5,475	(11,277)	(1,057)
Decrease (increase) in prepaid expenses and other current assets and other assets, noncurrent	648	429	(2,299)
Increase in deferred contract acquisition and fulfillment costs	(6,561)	(11,558)	(18,051)
Increase (decrease) in trade payables	(5,884)	3,132	3,886
Increase (decrease) in accrued expenses and other current liabilities	797	(1,937)	3,756
Increase (decrease) in employees and payroll accruals	(2,233)	(3,743)	2,352
Increase (decrease) in other liabilities, noncurrent	443	(51)	(675)
Increase in deferred revenue	1,626	7,465	6,275
Operating lease right-of-use assets and lease liabilities, net	(863)	527	0
Net cash used in operating activities	(8,303)	(46,828)	(22,110)
Cash flows from investing activities:
Investment in available-for-sale marketable securities	(47,708)	(60,165)	0
Proceeds from maturities of available-for-sale marketable securities	51,976	18,985	0
Purchases of property and equipment	(2,607)	(1,218)	(1,876)
Proceeds from sale of property and equipment	0	0	757
Capitalized internal-use software development costs	(1,493)	(4,759)	(3,978)
Investment in restricted bank deposit	(1,751)	(2,600)	0
Purchase of intangible assets	0	0	(145)
Net cash used in investing activities	(1,583)	(49,757)	(5,242)
Cash flows from financing activities:
Proceeds from initial public offering, net of underwriting discounts and commissions	0	0	160,425
Payment related to the conversion of Series F redeemable convertible preferred stock upon initial public offering	0	0	(1,569)
Proceeds from long-term loans	3,500	0	41,915
Repayment of long-term loans	(4,500)	(3,000)	(51,833)
Principal payments on finance leases	0	(136)	(1,717)
Proceeds from exercise of stock options	1,383	2,732	1,335
Payment of debt issuance costs	(274)	(125)	0
Payment of deferred offering costs	0	0	(5,188)
Net Cash Provided by (Used in) Financing Activities	109	(529)	143,368
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	728	(1,424)	0
Net increase (decrease) in cash, cash equivalents and restricted cash	(9,049)	(98,538)	116,016
Cash, cash equivalents and restricted cash at the beginning of the year	45,833	144,371	28,355
Cash, cash equivalents and restricted cash at the end of the year	36,784	45,833	144,371
Supplemental disclosure of non-cash activity:
Purchase of property, equipment, internal-use software, and intangible asset in credit	43	355	1,106
Lease liabilities arising from right-of-use assets	0	23,712	0
Capitalized stock-based compensation cost	845	296	0
Pending proceeds from option exercises	79	227	0
Lease incentive recognized as leasehold improvements	4,924	1,711	0
Conversion of warrants to common stock upon initial public offering	0	0	70,677
Conversion of convertible and redeemable convertible preferred stock to common stock upon initial public offering	0	0	161,261
Supplemental disclosure of cash flow information
Cash paid for income taxes, net	4,294	8,873	2,636
Cash paid for interest	2,953	2,301	1,944
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet
Cash and cash equivalents	36,684	44,625	143,949
Restricted cash included in other assets, noncurrent	100	1,208	422
Total cash, cash equivalents, and restricted cash	$ 36,784	$ 45,833	$ 144,371

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
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	150,274,107	142,249,619
Common Stock, Shares, Outstanding	142,588,917	134,564,429
Treasury Stock, Common, Shares	7,685,190
Treasury Shares Par Value Per Share	$ 0.0001

Comprehensive Text Block List (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated other comprehensive income (loss)	$ 1,047	$ (301)	$ 0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(925)	(1,824)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	2,273	1,523
Other Comprehensive Income (Loss), Net of Tax	1,348	(301)	0
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent
Accumulated other comprehensive income (loss)	49	(181)	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	230	(181)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	230	(181)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated other comprehensive income (loss)	998	(120)	$ 0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(1,155)	(1,643)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	2,273	1,523
Other Comprehensive Income (Loss), Net of Tax	$ 1,118	$ (120)

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021

Customer A (Media and Telecom)	10.22	%	*)	—	*)	—

GENERAL	12 Months Ended
GENERAL	Dec. 31, 2023
Business [Abstract]
Nature of Operations	NOTE 1: GENERAL Kaltura, 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”).

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent	$ 46,366	$ 68,495	$ 59,351
Preferred stock accretion and cumulative dividends	0	0	8,241
Total loss attributable to common stockholders	$ 46,366	$ 68,495	$ 67,592
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	138,237,017	130,366,385	71,073,052
Earnings Per Share, Basic	$ 0.34	$ 0.53	$ 0.95
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	34,132,323	33,457,465	37,627,380
Employee Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	34,132,323	33,457,465	37,627,380

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Leases, Codification Topic 842

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lessee, Operating Leases

NOTE 7: LEASES

The Company leases its office facilities under agreements that expire at various dates through July 2032.

Components of operating lease expense were as follows:


	Year Ended December 31, 2023		Year Ended December 31, 2022

Operating lease cost	$	2,875	$	2,827
Short-term lease cost	154		417
Variable lease cost	89		20

Total	$	3,118	$	3,264

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


	Year Ended December 31, 2023		Year Ended December 31, 2022

Cash paid for operating leases	$	3,353	$	1,845

As of December 31, 2023, the weighted-average discount rate is 4.8% and the weighted-average remaining term is 8.1 years. Maturities of the Company’s operating lease liabilities as of December 31, 2023 were as follows:


Year Ending December 31,

2024	3,062
2025	3,119
2026	3,181
2027	2,749
2028	2,371
2029 and thereafter	9,088
Total operating lease payments	23,570
Less: imputed interest	3,400
Total operating lease liabilities	$	20,170

REVENUES FROM CONTRACTS WITH CUSTOMERS (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables present disaggregated revenue by category:


	Year Ended December 31, 2023
	Enterprise, Education and Technology				Media and Telecom
	Amount		Percentage of revenue		Amount		Percentage of revenue

Subscription	$	120,600	96.4	%	$	42,150	84.3	%
Professional services	4,554		3.6	%	7,868		15.7	%

	$	125,154	100	%	$	50,018	100	%


	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	%

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

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


	December 31,
	2023		2022		2021

Beginning balance	$	26,928	$	26,274	$	17,683
Additions to deferred contract acquisition costs during the period	7,237		10,037		15,594
Amortization of deferred contract acquisition costs	(9,955)		(9,383)		(7,003)

Ending balance	$	24,210	$	26,928	$	26,274

Deferred contract acquisition costs, current	$	9,063	$	8,979	$	7,671
Deferred contract acquisition costs, noncurrent	15,147		17,949		18,603

Total deferred costs to obtain a contract	$	24,210	$	26,928	$	26,274

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


	December 31,
	2023		2022		2021

Beginning balance	$	5,522	$	5,426	$	4,041
Additions to deferred costs to fulfill a contract during the period	—		1,578		2,457
Amortization of deferred costs to fulfill a contract	(1,782)		(1,482)		(1,072)

Ending balance	$	3,740	$	5,522	$	5,426

Deferred fulfillment costs, current	$	1,573	$	1,780	$	1,408
Deferred fulfillment costs, noncurrent	2,167		3,742		4,018

Total deferred costs to fulfill a contract	$	3,740	$	5,522	$	5,426

STOCKHOLDERS' EQUITY (Details 5 Options Table) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	22,933,058	25,988,465
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number	16,745,670
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	$ 3,169	$ 5,272	$ 5,437
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 0.54
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	(2,345,199)
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price	$ 3.86
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period	(710,208)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 4.99	$ 4.56
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 2.89
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	6 years 3 months 14 days	7 years 9 months
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	6 years 3 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value	$ 5,378	$ 6,285
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value	$ 5,378

Comprehensive Text Block List (Tables)

12 Months Ended

Dec. 31, 2023

Text Block [Abstract]

Schedule of prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following:


	December 31,
	2023		2022

Prepaid expenses	$	2,656	$	3,369
Government institutions	—		422
Restricted bank deposits	3,397		2,600
Derivative instrument	998		—
Other current assets	1,359		1,130

	$	8,410	$	7,521

Property, Plant and Equipment

Composition of property and equipment is as follows:


	December 31,
	2023		2022
Cost:
Computers and peripheral equipment	$	3,802	$	4,323
Office furniture and equipment	2,183		551
Leasehold improvements	7,267		1,965
Finance leases of computers and peripheral equipment	253		253
Internal use software	13,755		12,095

	27,260		19,187

Accumulated depreciation	(7,147)		(4,045)

Depreciated cost	$	20,113	$	15,142

Schedule of Other Assets, Noncurrent


	December 31,
	2023		2022

Restricted cash	$	100	$	1,208
Severance pay fund	1,685		1,855
Restricted deposit	1,025		—
Other	290		113

	$	3,100	$	3,176

Schedule of Accrued Liabilities


	December 31,
	2023		2022

Accrued expenses	$	4,353	$	7,471
Accrued taxes	11,755		7,966
Derivative instruments	—		120
Other current liabilities	1,171		970

	$	17,279	$	16,527

STOCKHOLDERS' EQUITY (Details 9 SBC Expense) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement, Expense	$ 29,980	$ 23,645	$ 17,065
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	28,713
Cost of Sales
Share-Based Payment Arrangement, Expense	1,128	1,376	877
Research and Development Expense
Share-Based Payment Arrangement, Expense	4,734	4,268	2,798
Selling and Marketing Expense
Share-Based Payment Arrangement, Expense	3,187	3,711	2,173
General and Administrative Expense
Share-Based Payment Arrangement, Expense	$ 20,931	$ 14,290	$ 11,217

GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2023

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, 2023, and December 31, 2022, were as follows:


	December 31, 2023
	Weighted average remaining useful life (in years)	Balance
Gross carrying amount:
Technology	1.25	$	4,700
Customer relationship	3.25	$	2,419

		$	7,119
Accumulated amortization and impairments:
Technology		$	(4,177)
Customer relationship		$	(2,253)

		$	(6,430)

Intangible assets, net		$	689


	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

During the year ended December 31, 2023, 2022 and 2021, the Company recorded amortization expenses in the amount of $555, $665 and $1,005, 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, 2023, is as follows:


	December 31,


2024	478
2025	148
2026	50
2027	13

	$	689

Goodwill was $11,070 at December 31, 2023 and December 31, 2022 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, 2023.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Use of Estimates, Policy

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

Foreign Currency Transactions and Translations Policy

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.

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

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, Policy

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 expenses (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 periodically evaluates its available-for-sale debt securities for impairment. If the amortized cost of an individual security exceeds its fair value, the Company considers its intent to sell the security or whether it is more likely than not that it will be required to sell the security before recovery of its amortized basis. If either of these criteria are met, the Company writes down the security to its fair value and records the impairment charge in financial expenses (income), net in the Consolidated Statements of Operations. If neither of these criteria are met, the Company determines whether credit loss exists. Credit loss is estimated by considering changes to the rating of the security by a rating agency, any adverse conditions specifically related to the security, as well as other factors.

Accounts Receivable

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 credit losses is based on the Company's assessments of factors that may affect a customer's ability to pay. The Company regularly reviews the adequacy of the allowance for credit losses 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. The Company does not have any off-balance sheet credit exposure related to its customers.

Derivatives, Policy

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, 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 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, Finite-Lived, Policy

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.

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

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.

Lessee, Leases

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.

Pension and Other Postretirement Plans, Nonpension Benefits, Policy

everance 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, 2023, 2022 and 2021 amounted to $3,194, $3,976 and $3,937, 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, 2023, 2022 and 2021, other than one-time termination benefits detailed in Note 18, were immaterial.

Pension and Other Postretirement Plans, Policy

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, 2023, 2022 and 2021 amounted to $2,397, $3,099 and $3,108, respectively.

Revenue from Contract with Customer

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 and post-contract services ("PCS") 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 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 Goods and Service

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 Expense, Policy

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, Policy

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, 2023, 2022 and 2021, the Company capitalized $1,660, $5,115 and $4,838 of software development costs, respectively. No impairment was recorded for the years ended December 31, 2023, 2022 and 2021.

Advertising Cost

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, 2023, 2022 and 2021, amounted to $3,951, $5,767 and $5,057, respectively, and are included in sales and marketing expenses in the consolidated statements of operations.

Share-Based Payment Arrangement

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. For RSUs with performance conditions, expenses are recognized when it is probable that the performance condition will be achieved. The probability of achievement is assessed periodically to determine whether the performance metric continues to be probable. When there is a change in the probability of achievement, any cumulative effect of the change is recognized in the period of the change and the remaining unrecognized compensation will be amortized prospectively over the respective vesting period. 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 Combinations Policy

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 Tax, Policy

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).

Earnings Per Share, Policy

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 Risk, Credit Risk, Policy

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,
	2023		2022		2021

Customer A (Media and Telecom)	10.22	%	*)	—	*)	—

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

Fair Value Measurement, Policy

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.

Commitments and Contingencies, Policy

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.

New Accounting Pronouncements, Policy

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 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 Company adopted this guidance using modified retrospective approach, effective on January 1, 2023. The adoption did not have a material effect on its consolidated financial statements.

Recent Accounting Guidance Not Yet Adopted [Policy Text Block]

Recent Accounting Guidance Not Yet Adopted

In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually.

The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this standard.

In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes - Improvements to Income Tax Disclosures” requiring enhancements and further transparency to certain income tax disclosures, most notably the tax rate reconciliation and income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024 on a prospective basis and retrospective application is permitted. The Company is currently evaluating the impact of the adoption of this standard.

REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Long-Lived Assets	$ 33,985	$ 35,956
UNITED STATES
Segment Reporting Information [Line Items]
Long-Lived Assets	13,913	15,752
ISRAEL
Segment Reporting Information [Line Items]
Long-Lived Assets	19,916	19,995
Other Countries [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	$ 156	$ 209

STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2023

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 as of December 31, 2023:


						December 31, 2023
Outstanding options						22,933,058
Outstanding RSUs						11,199,265
Shares reserved under 2021 Plan						3,521,137

Total						37,653,460

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, 2023, the number of shares of common stock authorized for issuance under the 2021 Plan automatically increased by 6,728,221 shares pursuant to the terms of the 2021 Plan.

During 2023, the Company granted to its officers RSUs under the 2021 Plan which shall vest based upon achievement of certain performance targets set forth in the 2023 Executive Compensation Plan, and additional RSUs that vest in quarterly installments over a period of up to three years commencing as of January 1, 2023 with the first quarterly vesting date on April 1, 2023, subject to continued employment through the vesting dates.

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, 2023	25,988,465	$	4.56	7.75	$	6,285

Granted	—	$	—
Exercised	(2,345,199)	$	0.54		$	3,169
Forfeited	(710,208)	$	3.86

Outstanding as of December 31, 2023	22,933,058	$	4.99	6.29	$	5,378

Exercisable options at end of the year	16,745,670	$	2.89	6.01	$	5,378

The weighted average grant-date fair value of the service-based awards granted in the year ended December 31, 2021, was $2.45 per option. The total grant-date fair value of the service-based awards that vested during the years ended December 31, 2023, 2022 and 2021, was $11,409, $12,763 and $13,152, respectively. The aggregate intrinsic value of options exercised during the years ended December 31, 2023, 2022 and 2021, was $3,169, $5,272 and $5,437, respectively.

RSUs

The following table summarizes the RSU activity for the year ended December 31, 2023:


	RSUs Outstanding	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2022	7,469,000	$2.72
RSUs granted	10,315,608	$2.05
RSUs vested	(5,679,289)	$2.45
RSUs forfeited	(906,054)	$2.73
Unvested and Outstanding as of December 31, 2023	11,199,265	$2.24

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,
	2023		2022		2021

Cost of revenue	$	1,128	$	1,376	$	877
Research and development	4,734		4,268		2,798
Sales and marketing	3,187		3,711		2,173
General and administrative	20,931		14,290		11,217

Total expenses	$	29,980	$	23,645	$	17,065

As of December 31, 2023, there were $28,713 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. The Rights expired in accordance with their terms on August 6, 2023.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

STOCKHOLDERS' EQUITY (Details 4 Equity Incentive Plans Text) - shares		12 Months Ended
	Jan. 01, 2023	Dec. 31, 2023
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	6,728,221

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2023

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, 2023:


Year ended December 31,

2024	31,313
2025	26,745
2026	28,471

Total purchase commitment	$	86,529

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.

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule Of Shares Of Common Stock Reserved For Future Issuance

The Company has the following common stock reserved for future issuance as of December 31, 2023:


						December 31, 2023
Outstanding options						22,933,058
Outstanding RSUs						11,199,265
Shares reserved under 2021 Plan						3,521,137

Total						37,653,460

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, 2023	25,988,465	$	4.56	7.75	$	6,285

Granted	—	$	—
Exercised	(2,345,199)	$	0.54		$	3,169
Forfeited	(710,208)	$	3.86

Outstanding as of December 31, 2023	22,933,058	$	4.99	6.29	$	5,378

Exercisable options at end of the year	16,745,670	$	2.89	6.01	$	5,378

Share-Based Payment Arrangement, Restricted Stock Unit, Activity

The following table summarizes the RSU activity for the year ended December 31, 2023:


	RSUs Outstanding	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2022	7,469,000	$2.72
RSUs granted	10,315,608	$2.05
RSUs vested	(5,679,289)	$2.45
RSUs forfeited	(906,054)	$2.73
Unvested and Outstanding as of December 31, 2023	11,199,265	$2.24

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,
	2023		2022		2021

Cost of revenue	$	1,128	$	1,376	$	877
Research and development	4,734		4,268		2,798
Sales and marketing	3,187		3,711		2,173
General and administrative	20,931		14,290		11,217

Total expenses	$	29,980	$	23,645	$	17,065

Statement of Comprehensive Income (Statement) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income (Loss) Attributable to Parent	$ 46,366	$ 68,495	$ 59,351
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	1,118	(120)	0
Available-for-Sale Securities, Gross Unrealized Loss	230	(181)	0
Other Comprehensive Income (Loss), Net of Tax	1,348	(301)	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total	$ (45,018)	$ (68,796)	$ (59,351)

- Definition

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

+ References

+ Details

- Definition

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

+ References

+ Details

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue:
Total revenue	$ 175,172	$ 168,811	$ 165,016
Cost of revenue:
Total cost of revenue	62,938	61,871	62,314
Gross Profit	112,234	106,940	102,702
Operating expenses:
Research and Development Expense	52,400	57,387	48,376
Selling and Marketing Expense	48,798	59,280	45,788
General and Administrative Expense	48,718	45,414	39,489
Restructuring Costs	973	1,238	0
Other General Expense	0	0	1,724
Total operating expenses	150,889	163,319	135,377
Operating Income (Loss)	38,655	56,379	32,675
Nonoperating Income (Expense)	(1,200)	4,248	20,106
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	37,455	60,627	52,781
Income Tax Expense (Benefit)	8,911	7,868	6,570
Net Income (Loss) Attributable to Parent	46,366	68,495	59,351
Preferred stock accretion and cumulative dividends	0	0	8,241
Net Income (Loss) Available to Common Stockholders, Basic	$ 46,366	$ 68,495	$ 67,592
Earnings Per Share, Basic	$ 0.34	$ 0.53	$ 0.95
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	138,237,017	130,366,385	71,073,052
Subscription [Member]
Revenue:
Total revenue	$ 162,750	$ 152,480	$ 144,966
Cost of revenue:
Total cost of revenue	44,224	40,099	39,866
Professional Services
Revenue:
Total revenue	12,422	16,331	20,050
Cost of revenue:
Total cost of revenue	$ 18,714	$ 21,772	$ 22,448

CONSOLIDATED BALANCE SHEET COMPONENTS (Details PPE Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Text Block [Abstract]
Depreciation	$ 4,162	$ 2,042	$ 2,791

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 36,684	$ 44,625
Marketable securities	32,692	41,343
Trade receivables	23,312	28,786
Prepaid expenses and other current assets	8,410	7,521
Deferred contract acquisition and fulfillment costs, current	10,636	10,759
Total current assets	111,734	133,034
LONG-TERM ASSETS:
Marketable securities	5,844	0
Property and equipment, net	20,113	15,142
Other assets, noncurrent	3,100	3,176
Deferred contract acquisition and fulfillment costs, noncurrent	17,314	21,691
Operating lease right-of-use assets	13,872	20,814
Intangible assets, net	689	1,244
Goodwill	11,070	11,070
Total noncurrent assets	72,002	73,137
TOTAL ASSETS	183,736	206,171
Liabilities, Current [Abstract]
Current portion of long-term loans	1,612	5,793
Trade payables	3,629	9,437
Employees and payroll accruals	12,651	14,884
Accrued expenses and other current liabilities	17,279	16,527
Operating lease liabilities	2,374	2,355
Deferred revenue, current	62,364	59,841
Total current liabilities	99,909	108,837
Liabilities, Noncurrent [Abstract]
Deferred revenue, noncurrent	369	1,266
Long-term loans, net of current portion	33,047	30,004
Operating lease liabilities, noncurrent	17,796	20,697
Other liabilities, noncurrent	2,295	2,021
Total noncurrent liabilities	53,507	53,988
TOTAL LIABILITIES	153,416	162,825
STOCKHOLDERS' EQUITY:
Preferred stock, $0.0001 par value per share, 20,000,000 shares authorized as of December 31, 2023, and 2022; 0 shares issued and outstanding as of December 31, 2023, and 2022	0	0
Common stock $0.0001 par value per share, 1,000,000,000 shares authorized as of December 31, 2023 and 2022; 150,274,107 and 142,249,619, shares issued as of December 31, 2023 and 2022, respectively; 142,588,917 and 134,564,429 shares outstanding as of December 31, 2023 and 2022, respectively	14	13
Treasury stock – 7,685,190 shares of common stock, $0.0001 par value per share, as of December 31, 2023 and 2022	(4,881)	(4,881)
Additional paid-in capital	471,635	439,644
Accumulated other comprehensive income (loss)	1,047	(301)
Accumulated deficit	(437,495)	(391,129)
Total stockholders' equity	30,320	43,346
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 183,736	$ 206,171

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2023

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, 2023		December 31, 2022

Measured at fair value on a recurring basis:

Assets:
Cash equivalents:
Money market funds	Level 1	$	18,745	$	16,489

Short-term marketable securities:
Corporate bonds	Level 2	$	6,989	$	9,239
Municipal securities	Level 2	$	—	$	1,747
U.S. Treasury	Level 2	$	8,812	$	16,195
Commercial paper	Level 2	$	8,850	$	11,237
Agency bonds	Level 2	$	8,041	$	2,925

Long-term marketable securities:
Corporate bonds	Level 2	$	2,958	$	—
U.S. Treasury	Level 2	$	2,886	$	—

Prepaid expenses and other current assets:
Restricted bank deposits	Level 2	$	3,397	$	2,600
Options and forward contracts designated as hedging instruments	Level 2	$	998	$	—

Other assets, noncurrent:
Restricted bank deposit	Level 2	$	1,025	$	—

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

- 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

REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION

12 Months Ended

Dec. 31, 2023

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, 2023
	Enterprise, Education and Technology		Media and Telecom		Total


Revenue	$	125,154	$	50,018	$	175,172

Gross profit	$	91,624	$	20,610	$	112,234

Operating expenses					150,889
Financial income, net					(1,200)
Provision for income taxes					8,911

Net loss					$	46,366


	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

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,
	2023		2022		2021

United States (“US”)	$	91,319	$	91,923	$	96,464
Europe, the Middle East and Africa (“EMEA”)	65,831		58,026		51,077
Other	18,022		18,862		17,475

	$	175,172	$	168,811	$	165,016

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, 2023 and 2022, based on geographical areas which consist of property and equipment, net and operating lease right-of-use assets:


	December 31,
	2023		2022

US	$	13,913	$	15,752
Israel	19,916		19,995
Rest of world	156		209

	$	33,985	$	35,956

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
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-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

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-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

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-Topic 280
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

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-Topic 280
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-Topic 280
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-Section 50
-Paragraph 21
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 175,172	$ 168,811	$ 165,016
UNITED STATES
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	91,319	91,923	96,464
EMEA
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	65,831	58,026	51,077
Other Countries [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 18,022	$ 18,862	$ 17,475

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

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-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 22
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2023	Feb. 14, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2023
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
Trading Symbol	KLTR
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common stock, $0.0001 par value per share
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			$ 245,500,000
Entity Common Stock, Shares Outstanding		143,258,127
ICFR Auditor Attestation Flag	false
Entity File Number	001-40644
Document Financial Statement Error Correction [Flag]	false

INCOME TAXES (Details 4) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 4) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	$ 7,141	$ 5,326	$ 4,494	$ 3,863
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	0	(313)	(107)
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	$ 1,815	$ 1,145	$ 738

LONG-TERM LOAN (Details) - USD ($) $ in Thousands	12 Months Ended
LONG-TERM LOAN (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jan. 31, 2021
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate at Period End	7.98%
Line of Credit Facility, Interest Rate at Period End	7.98%
Debt Instrument, Frequency of Periodic Payment	quarterly
On December 31, 2023, Through September 30, 2024
Line of Credit Facility [Line Items]
Debt Instrument, Periodic Payment	$ 438
On December 31, 2024, Through September 30, 2025
Line of Credit Facility [Line Items]
Debt Instrument, Periodic Payment	656
On And After December 31, 2025
Line of Credit Facility [Line Items]
Debt Instrument, Periodic Payment	$ 1,313
Eurodollar
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Debt Instrument, Basis Spread on Variable Rate	3.50%
Alternate Base Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Debt Instrument, Interest Rate, Stated Percentage	1.50%
Debt Instrument, Basis Spread on Variable Rate	2.50%
Debt Instrument, Interest Rate, Stated Percentage	1.50%
Alternate Base Rate [Member] \| Interest Rate Floor
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.00%
Debt Instrument, Interest Rate, Stated Percentage	2.00%
Alternate Base Rate [Member] \| Federal Funds Effective Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.50%
Debt Instrument, Interest Rate, Stated Percentage	0.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate at Period End	5.38%
Line of Credit Facility, Interest Rate at Period End	5.38%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Interest Margin
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.50%
Debt Instrument, Interest Rate, Stated Percentage	2.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Credit Adjustment Spread
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.10%
Debt Instrument, Interest Rate, Stated Percentage	0.10%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Interest Rate Floor
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Term Loan Facility [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 35,000	$ 40,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount		$ 10,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 25

Comprehensive Text Block List (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023:


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

Balance as of December 31, 2022	$	(181)	$	(120)	$	(301)
Other comprehensive income (loss) before reclassifications	230		(1,155)		(925)
Net realized losses reclassified from accumulated other comprehensive income	—		2,273		2,273
Other comprehensive income	230		1,118		1,348
Balance as of December 31, 2023	$	49	$	998	$	1,047


	Net Unrealized Losses on Available-for-Sale Securities Instruments		Net Unrealized Income (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)

STOCKHOLDERS' EQUITY (Details 8 RSUs) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number	11,199,265	7,469,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	10,315,608
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period	(5,679,289)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(906,054)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 2.05	$ 2.72
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	2.45
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	2.73
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 2.24

Investments, Debt and Equity Securities (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and December 31, 2022, respectively:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale – matures within one year:
Corporate bonds	$	6,985	$	4	$	—	$	6,989
U.S. Treasury	8,795		17		—		8,812
Commercial paper	8,855		—		(5)		8,850
Agency bonds	8,037		9		(5)		8,041
	$	32,672	$	30	$	(10)	$	32,692

Available-for-sale – matures after one year:
Corporate bonds	$	2,944	$	14	$	—	$	2,958
U.S. Treasury	2,869		17		—		2,886
	$	5,813	$	31	$	—	$	5,844


	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

REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Year Ended December 31, 2023
	Enterprise, Education and Technology		Media and Telecom		Total


Revenue	$	125,154	$	50,018	$	175,172

Gross profit	$	91,624	$	20,610	$	112,234

Operating expenses					150,889
Financial income, net					(1,200)
Provision for income taxes					8,911

Net loss					$	46,366


	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

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,
	2023		2022		2021

United States (“US”)	$	91,319	$	91,923	$	96,464
Europe, the Middle East and Africa (“EMEA”)	65,831		58,026		51,077
Other	18,022		18,862		17,475

	$	175,172	$	168,811	$	165,016

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

The following table presents long-lived assets as of December 31, 2023 and 2022, based on geographical areas which consist of property and equipment, net and operating lease right-of-use assets:


	December 31,
	2023		2022

US	$	13,913	$	15,752
Israel	19,916		19,995
Rest of world	156		209

	$	33,985	$	35,956

REVENUES FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 175,172	$ 168,811	$ 165,016
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 185,305
Revenue, Remaining Performance Obligation, Percentage	59.00%
Capitalized Contract Cost [Line Items]
Amortization of deferred contract acquisition and fulfillment costs	$ 11,669	10,865	8,075
Deferred contract acquisition and fulfillment costs, current	10,636	10,759
Deferred contract acquisition and fulfillment costs, noncurrent	17,314	21,691
Enterprise, Education & Technology
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	125,154	120,190	118,932
Media and Telecom
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	50,018	48,621	46,084
Revenue Benchmark \| Revenue from Rights Concentration Risk \| Enterprise, Education & Technology
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 125,154	$ 120,190	$ 118,932
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		$ 48,621	$ 46,084
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	$ 50,018
Subscription [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	162,750	$ 152,480	$ 144,966
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	$ 120,600	$ 113,551	$ 108,842
Concentration Risk, Percentage	96.40%	94.50%	91.50%
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		$ 38,929	$ 36,124
Concentration Risk, Percentage	84.30%	80.10%	78.40%
Subscription [Member] \| Sales \| Revenue from Rights Concentration Risk \| Media and Telecom
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 42,150
Professional Services
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	12,422	$ 16,331	$ 20,050
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	$ 4,554	$ 6,639	$ 10,090
Concentration Risk, Percentage	3.60%	5.50%	8.50%
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	$ 7,868	$ 9,692	$ 9,960
Concentration Risk, Percentage	15.70%	19.90%	21.60%
Costs To Obtain Contract [Member]
Capitalized Contract Cost [Line Items]
Beginning balance	$ 26,928	$ 26,274	$ 17,683
Additions to deferred contract acquisition costs during the period	7,237	10,037	15,594
Amortization of deferred contract acquisition and fulfillment costs	(9,955)	(9,383)	(7,003)
Deferred contract acquisition and fulfillment costs, current	9,063	8,979	7,671
Deferred contract acquisition and fulfillment costs, noncurrent	15,147	17,949	18,603
Ending balance	24,210	26,928	26,274
Total deferred costs to obtain a contract	24,210	26,928	26,274
Costs To Fulfill Contract [Member]
Capitalized Contract Cost [Line Items]
Beginning balance	5,522	5,426	4,041
Additions to deferred contract acquisition costs during the period	0	1,578	2,457
Amortization of deferred contract acquisition and fulfillment costs	(1,782)	(1,482)	(1,072)
Deferred contract acquisition and fulfillment costs, current	1,573	1,780	1,408
Deferred contract acquisition and fulfillment costs, noncurrent	2,167	3,742	4,018
Ending balance	3,740	5,522	5,426
Total deferred costs to obtain a contract	3,740	$ 5,522	$ 5,426
Billed Revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	62,733
Unbilled Revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 122,572

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023:


Year ended December 31,

2024	31,313
2025	26,745
2026	28,471

Total purchase commitment	$	86,529

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Restricted Assets, Noncurrent	$ 1,025	$ 0
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, Current	6,989	9,239
Debt Securities, Available-for-Sale, Noncurrent	2,958	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, Current	0	1,747
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, Current	8,812	16,195
Debt Securities, Available-for-Sale, Noncurrent	2,886	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, Current	8,850	11,237
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, Current	8,041	2,925
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 Contract, Asset, Fair Value Disclosure	998	0
Foreign Currency Contracts, Liability, Fair Value Disclosure	0	120
Fair Value, Inputs, Level 2 \| Fair Value, Recurring \| Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Restricted Assets, Current	3,397	2,600
Other Restricted Assets, Noncurrent	1,025	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	$ 18,745	$ 16,489

INCOME TAXES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward, Amount	$ 114,778
Domestic Destination
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	258,007	$ 143,229
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 183,555

Comprehensive Text Block List

12 Months Ended

Dec. 31, 2023

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,
	2023		2022

Prepaid expenses	$	2,656	$	3,369
Government institutions	—		422
Restricted bank deposits	3,397		2,600
Derivative instrument	998		—
Other current assets	1,359		1,130

	$	8,410	$	7,521

Property and Equipment, net

Composition of property and equipment is as follows:


	December 31,
	2023		2022
Cost:
Computers and peripheral equipment	$	3,802	$	4,323
Office furniture and equipment	2,183		551
Leasehold improvements	7,267		1,965
Finance leases of computers and peripheral equipment	253		253
Internal use software	13,755		12,095

	27,260		19,187

Accumulated depreciation	(7,147)		(4,045)

Depreciated cost	$	20,113	$	15,142

Depreciation expenses for the years ended December 31, 2023, 2022 and 2021 were $4,162, $2,042 and $2,791, respectively.

Other assets, noncurrent


	December 31,
	2023		2022

Restricted cash	$	100	$	1,208
Severance pay fund	1,685		1,855
Restricted deposit	1,025		—
Other	290		113

	$	3,100	$	3,176

Accrued expenses and other current liabilities


	December 31,
	2023		2022

Accrued expenses	$	4,353	$	7,471
Accrued taxes	11,755		7,966
Derivative instruments	—		120
Other current liabilities	1,171		970

	$	17,279	$	16,527

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023		December 31, 2022

Measured at fair value on a recurring basis:

Assets:
Cash equivalents:
Money market funds	Level 1	$	18,745	$	16,489

Short-term marketable securities:
Corporate bonds	Level 2	$	6,989	$	9,239
Municipal securities	Level 2	$	—	$	1,747
U.S. Treasury	Level 2	$	8,812	$	16,195
Commercial paper	Level 2	$	8,850	$	11,237
Agency bonds	Level 2	$	8,041	$	2,925

Long-term marketable securities:
Corporate bonds	Level 2	$	2,958	$	—
U.S. Treasury	Level 2	$	2,886	$	—

Prepaid expenses and other current assets:
Restricted bank deposits	Level 2	$	3,397	$	2,600
Options and forward contracts designated as hedging instruments	Level 2	$	998	$	—

Other assets, noncurrent:
Restricted bank deposit	Level 2	$	1,025	$	—

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

CONSOLIDATED BALANCE SHEET COMPONENTS (Details 4 Accrued Expenses) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Text Block [Abstract]
Accrued Liabilities, Current	$ 4,353	$ 7,471
Accrued Income Taxes	11,755	7,966
Derivative Liability, Current	0	120
Other Accrued Liabilities, Current	1,171	970
Accrued expenses and other current liabilities	$ 17,279	$ 16,527

SELECTED STATEMENT OF OPERATIONS DATA (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial income:
Financial income	$ 4,904	$ 962	$ 5
Financial expenses:
Bank fees	153	160	530
Change in valuation of warrants to purchase preferred and common stock	0	0	15,046
Interest Expense	3,178	2,301	2,979
Foreign Currency Transaction Loss, before Tax	0	1,959	1,136
Other Nonoperating Expense	373	790	420
Financial expenses	3,704	5,210	20,111
Nonoperating Income (Expense)	(1,200)	4,248	20,106
Interest Income, Deposits with Financial Institutions	2,735	962	5
Foreign Currency Transaction Gain, before Tax	$ 2,169	$ 0	$ 0

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2023

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 $15,093 and $8,345 as of December 31, 2023 and December 31, 2022, respectively. The fair value of the Company’s outstanding contracts amounted to an asset of $998 as of December 31, 2023 and a liability of $120 as of December 31, 2022. These assets and liabilities were recorded under prepaid expenses and other current assets and accrued expenses and other current liabilities. Losses of $2,241 and $1,418 was reclassified from accumulated other comprehensive income (loss) during the year ended December 31, 2023 and 2022, respectively. Such losses was reclassified from accumulated other comprehensive income (loss) when the related expenses were incurred. The Company did not enter into hedging contracts during the year ended 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, 2023 and 2022 was as follows:


Statement of Operations Location:	Year Ended December 31, 2023		Year Ended December 31, 2022

Cost of revenue	$	326	$	230
Research and development	1,182		727
Sales and marketing	278		190
General and administrative	427		249
Restructuring	28		22

Total	$	2,241	$	1,418

STOCKHOLDERS' EQUITY (Details 2 Common Stock)	Dec. 31, 2023 $ / shares shares
Equity [Abstract]
Common Stock, Shares Authorized \| shares	1,000,000,000
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.0001

Comprehensive Text Block List

12 Months Ended

Dec. 31, 2023

Text Block [Abstract]

Comprehensive Income (Loss) Note

NOTE 17: 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, 2023:


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

Balance as of December 31, 2022	$	(181)	$	(120)	$	(301)
Other comprehensive income (loss) before reclassifications	230		(1,155)		(925)
Net realized losses reclassified from accumulated other comprehensive income	—		2,273		2,273
Other comprehensive income	230		1,118		1,348
Balance as of December 31, 2023	$	49	$	998	$	1,047


	Net Unrealized Losses on Available-for-Sale Securities Instruments		Net Unrealized Income (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 income (loss) activity during the year ended December 31, 2021.

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income (Loss) from Continuing Operations before Income Taxes, Domestic	$ 45,625	$ 66,346	$ 75,259
Income (Loss) from Continuing Operations before Income Taxes, Foreign	(8,170)	(5,719)	(22,478)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	37,455	60,627	52,781
Income Tax Expense (Benefit)	8,911	7,868	6,570
Deferred Tax Assets, Operating Loss Carryforwards	69,160	71,887
Disallowed Business Interest Expense	4,023	4,760
Deferred tax assets, Capitalized R&D Costs	26,126	16,322
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals	1,486	1,489
Deferred Tax Assets, Deferred Income	378	283
Deferred Tax Assets Tax Deferred Expense Operating Lease Liabilities	829	1,009
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-Based Compensation Cost	5,823	2,710
Deferred Tax Assets, Investment in Subsidiaries	5,498	0
Deferred Tax Assets, Tax Deferred Expense, Other	77	49
Deferred Tax Assets, Gross	113,400	98,509
Deferred Tax Assets, Valuation Allowance	(101,237)	(84,795)
Deferred Tax Assets, Net of Valuation Allowance	12,163	13,714
Deferred Tax Liabilities, Other Finite-Lived Assets	(970)	(798)
Deferred Tax Liabilities, Deferred Expense, Deferred Policy Acquisition Cost	(7,686)	(8,782)
Deferred Tax Liabilities, Deferred Expense, Capitalized Software	(2,988)	(3,073)
Deferred Tax Assets Tax Deferred Expense Operating Lease Right-Of-Use Assets	(742)	(923)
Deferred Tax Liabilities, Property, Plant and Equipment	0	(138)
Deferred Tax Liabilities, Other	(195)	0
Deferred Tax Liabilities, Gross	12,581	13,714
Deferred Tax Liabilities, Net	(418)	0
Current Federal Tax Expense (Benefit)	0	0	0
Current State and Local Tax Expense (Benefit)	83	88	65
Current Foreign Tax Expense (Benefit)	8,410	7,780	6,505
Current Income Tax Expense (Benefit)	8,493	7,868	6,570
Deferred Federal Income Tax Expense (Benefit)	171	0	0
Deferred State and Local Income Tax Expense (Benefit)	247	0	0
Deferred Foreign Income Tax Expense (Benefit)	0	0	0
Deferred Income Tax Expense (Benefit)	$ 418	$ 0	$ 0

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Loss (income) before taxes on income is comprised as follows:


	Year Ended December 31,
	2023		2022		2021

Domestic	$	45,625	$	66,346	$	75,259
Foreign	(8,170)		(5,719)		(22,478)

Loss before taxes on income	$	37,455	$	60,627	$	52,781

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes was as follows:


	Year Ended December 31,
	2023		2022		2021

Current provision:
Federal	$	—	$	—	$	—
State	83		88		65
Foreign	8,410		7,780		6,505
	8,493		7,868		6,570
Deferred provision:
Federal	171		—		—
State	247		—		—
Foreign	—		—		—
	418		—		—
Total provision for income taxes	$	8,911	$	7,868	$	6,570

Schedule of Deferred Tax Assets and Liabilities

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


	December 31,
	2023		2022

Deferred tax assets:

Net operating losses carryforward	$	69,160	$	71,887
Disallowed business interest expense	4,023		4,760
Capitalized R&D costs	26,126		16,322
Reserves & accruals	1,486		1,489
Deferred revenue	378		283
Lease liability	829		1,009
Stock based compensation	5,823		2,710
Intercompany payable	5,498		—
Other assets	77		49

Deferred tax assets before valuation allowance	113,400		98,509
Valuation allowance	(101,237)		(84,795)

Total deferred tax assets, net of valuation allowance	$	12,163	$	13,714

Deferred tax liabilities:

Intangible Assets	(970)		(798)
Deferred contract acquisition and fulfillment costs	(7,686)		(8,782)
Internal use software	(2,988)		(3,073)
Operating lease right-of-use assets	(742)		(923)
Property and equipment	—		(138)
Other	(195)		—

Total gross deferred tax liabilities	$	(12,581)	$	(13,714)

Total net deferred tax liabilities	$	(418)	$	—

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,
	2023			2022			2021

Loss before tax as reported at the consolidated statement of operations	$	37,455		$	60,627		$	52,781

Statutory tax rate	21		%	21		%	21		%

Theoretical tax benefit	$	(7,866)		$	(12,732)		$	(11,084)

Non-deductible expenses and other permanent differences	1,026			154			403
Remeasurement of warrants to Fair Value	—			—			3,160
Stock based compensation	2,403			2,193			3,651
Change in valuation allowance	16,842			9,745			13,232
State taxes, net of federal benefit	(2,898)			4,946			(3,700)
Income tax at rate other than the U.S. statutory tax rate	1,613			3,045			320
Exchange rate differences	(511)			332			(100)
Return to provision adjustments	(1,321)			—			—
Other	(377)			185			688

Total tax expenses	$	8,911		$	7,868		$	6,570

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 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

Decreases related to prior years' tax positions	—
Increases related to current years' tax positions	1,815

Balance as of December 31, 2023	$	7,141

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Severance Costs	$ 3,194	$ 3,976	$ 3,937
Defined Contribution Plan, Cost	2,397	3,099	3,108
Capitalized Computer Software, Additions	1,660	5,115	4,838
Advertising Expense	$ 3,951	$ 5,767	$ 5,057
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, Useful Life, Term, Description [Extensible Enumeration]	Useful Life, Shorter of Lease Term or Asset Utility [Member]
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	10.22%	0.00%	0.00%

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021

Numerator:
Net loss	$	46,366	$	68,495	$	59,351
Preferred stock accretion and cumulative dividends	—		—		8,241

Total loss attributable to common stockholders	$	46,366	$	68,495	$	67,592
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	138,237,017		130,366,385		71,073,052

Net loss per share attributable to common stockholders, basic and diluted	$	0.34	$	0.53	$	0.95

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,
	2023	2022	2021

Outstanding stock options and RSUs	34,132,323	33,457,465	37,627,380

Total	34,132,323	33,457,465	37,627,380

STOCKHOLDERS' EQUITY (Details 4 Equity Incentive Plans)	12 Months Ended
STOCKHOLDERS' EQUITY (Details 4 Equity Incentive Plans)	Dec. 31, 2023 $ / shares Rate
Class of Stock [Line Items]
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 0
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	$ 13.34

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

REPORTABLE SEGMENTS AND GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 175,172	$ 168,811	$ 165,016
Gross Profit	112,234	106,940	102,702
Operating Expenses	150,889	163,319	135,377
Nonoperating Income (Expense)	(1,200)	4,248	20,106
Income Tax Expense (Benefit)	8,911	7,868	6,570
Net Income (Loss) Attributable to Parent	46,366	68,495	59,351
Enterprise, Education & Technology
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	125,154	120,190	118,932
Gross Profit	91,624	83,812	84,196
Media and Telecom
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	50,018	48,621	46,084
Gross Profit	$ 20,610	$ 23,128	$ 18,506

- Definition

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

+ References

+ 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.

Investments, Debt and Equity Securities

12 Months Ended

Dec. 31, 2023

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, 2023 and December 31, 2022, respectively:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale – matures within one year:
Corporate bonds	$	6,985	$	4	$	—	$	6,989
U.S. Treasury	8,795		17		—		8,812
Commercial paper	8,855		—		(5)		8,850
Agency bonds	8,037		9		(5)		8,041
	$	32,672	$	30	$	(10)	$	32,692

Available-for-sale – matures after one year:
Corporate bonds	$	2,944	$	14	$	—	$	2,958
U.S. Treasury	2,869		17		—		2,886
	$	5,813	$	31	$	—	$	5,844


	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

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021

Numerator:
Net loss	$	46,366	$	68,495	$	59,351
Preferred stock accretion and cumulative dividends	—		—		8,241

Total loss attributable to common stockholders	$	46,366	$	68,495	$	67,592
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	138,237,017		130,366,385		71,073,052

Net loss per share attributable to common stockholders, basic and diluted	$	0.34	$	0.53	$	0.95

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,
	2023	2022	2021

Outstanding stock options and RSUs	34,132,323	33,457,465	37,627,380

Total	34,132,323	33,457,465	37,627,380

LONG-TERM LOAN

12 Months Ended

Dec. 31, 2023

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”), which subsequently and has been amended according to the Company's needs and other developments. In May 2023, the Company entered into an amendment (the "Fourth Amendment") to the then-existing Credit Agreement to replace the London Interbank Offered Rate (“LIBOR”) with the Secured Overnight Financing Rate (“SOFR”) as the benchmark rate under the Credit Agreement. Prior to the Fourth Amendment, borrowings under the Credit Agreement would bear interest, at the Company's election, at (a) the Eurodollar Rate (as defined in the Credit Agreement as in effect prior to the Fourth Amendment) plus a margin of 3.50% or (b) Alternative Base Rate (“ABR”) (as defined in the Credit Agreement) plus a margin of 2.50%.

In December 2023, the Company entered into a new amendment to the then-existing Credit Agreement (the “Fifth Amendment”), which provides for a new term loan facility in the aggregate principal amount of $35,000. Commitments under the Revolving Credit Facility decreased to $25,000.

Following the effectiveness of the Fifth Amendment, borrowings under the Credit Facilities bear interest, determined as follows: (a) SOFR loans accrue interest at a rate per annum equal to Term SOFR (as defined in the Credit Agreement) plus 0.10% per annum plus a margin of 2.50% (the Adjusted Term SOFR (as defined in the Credit Agreement) is subject to a 1.00% floor), and (b) ABR loans accrue interest at a rate per annum equal to the ABR plus a margin of 1.50% (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, 2023, the current rate of interest under the Credit Facilities was equal to a rate per annum of 7.98%, consisting of 5.38% (the 3-month SOFR rate as of December 31, 2023), 0.10% credit spread adjustment and the margin of 2.50%.

The Term Loan Facility is payable in consecutive quarterly installments on the last day of each fiscal quarter in an amount equal to (i) $438 for installments payable on December 31, 2023 (deferred to January 9, 2024), through September 30, 2024, (ii) $656 for installments payable on December 31, 2024 through September 30, 2025, and (iii) $1,313 for installments payable on and after December 31, 2025. The remaining unpaid balance on the Term Loan Facility is due and payable on December 21, 2026, 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 compliance with certain financial covenants as defined therein. As of December 31, 2023, the Company met these covenants.

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


Year ended December 31,


2024	$	2,406
2025	3,281
2026	29,313

	$	35,000

The carrying amounts of the loans approximate their fair value.

STOCKHOLDERS' EQUITY (Details 1 Preferred Stock)	Dec. 31, 2023 $ / shares
Equity [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.0001

STOCKHOLDERS' EQUITY (Details 7 Textuals) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value	$ 11,409	$ 12,763	$ 13,152
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 2.45
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 3,169	$ 5,272	$ 5,437

SELECTED STATEMENT OF OPERATIONS DATA (Tables)

12 Months Ended

Dec. 31, 2023

Selected Statement Of Operations Data [Abstract]

Schedule of Other Nonoperating Income (Expense)


	Year Ended December 31,
	2023		2022		2021

Financial income:

Interest income	$	2,735	$	962	$	5
Foreign currency translation adjustments, net	2,169		—		—

	4,904		962		5
Financial expenses:

Bank fees	153		160		530
Remeasurement of warrants to fair value	—		—		15,046
Interest expense	3,178		2,301		2,979
Foreign currency translation adjustments, net	—		1,959		1,136
Other	373		790		420

	3,704		5,210		20,111

Financial expenses (income), net	$	(1,200)	$	4,248	$	20,106

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2023

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

Financial Statements in U.S. Dollars

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

Marketable Securities

Trade Receivables

Derivatives and Hedging

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

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

Leases

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

everance Pay

Severance expenses recorded in Kaltura Israel for the years ended December 31, 2023, 2022 and 2021 amounted to $3,194, $3,976 and $3,937, respectively.

Severance expenses recorded in the U.S. for the years ended December 31, 2023, 2022 and 2021, other than one-time termination benefits detailed in Note 18, were immaterial.

Israeli Employees Defined Contribution Plan

Defined contribution pension plan expenses for the years ended December 31, 2023, 2022 and 2021 amounted to $2,397, $3,099 and $3,108, respectively.

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 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 Revenue

Research and Development Costs

Internal-Use Software

Advertising Costs

Stock-Based Compensation

Service-Based Awards

Market-Based Awards

Business Combination

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

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.

Net Loss per Share Attributable to Common Stockholders

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,
	2023		2022		2021

Customer A (Media and Telecom)	10.22	%	*)	—	*)	—

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

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.

Legal Contingencies

Recently Adopted Pronouncements

Recent Accounting Guidance Not Yet Adopted

Comprehensive Text Block List (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Text Block [Abstract]
Prepaid Expense	$ 2,656	$ 3,369
Other Receivables, Net, Current	0	422
Other Short-Term Investments	3,397	2,600
Derivative Asset, Current	998	0
Other Assets, Current	1,359	1,130
Prepaid expenses and other current assets	$ 8,410	$ 7,521

Leases, Codification Topic 842 (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lease, Cost

Components of operating lease expense were as follows:


	Year Ended December 31, 2023		Year Ended December 31, 2022

Operating lease cost	$	2,875	$	2,827
Short-term lease cost	154		417
Variable lease cost	89		20

Total	$	3,118	$	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, 2023		Year Ended December 31, 2022

Cash paid for operating leases	$	3,353	$	1,845

Lessee, Operating Lease, Liability, Maturity

Maturities of the Company’s operating lease liabilities as of December 31, 2023 were as follows:


Year Ending December 31,

2024	3,062
2025	3,119
2026	3,181
2027	2,749
2028	2,371
2029 and thereafter	9,088
Total operating lease payments	23,570
Less: imputed interest	3,400
Total operating lease liabilities	$	20,170

INCOME TAXES (Details 2) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ 37,455	$ 60,627	$ 52,781
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	$ (7,866)	$ (12,732)	$ (11,084)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount	1,026	154	403
Effective Income Tax Rate Reconciliation, Remeasurement Of Warrants To Fair Value, Amount	0	0	3,160
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-Based Payment Arrangement, Amount	2,403	2,193	3,651
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	16,842	9,745	13,232
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	(2,898)	4,946	(3,700)
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount	1,613	3,045	320
Exchange rate differences	(511)	332	(100)
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	(1,321)
Tax Adjustments, Settlements, and Unusual Provisions		0	0
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	(377)	185	688
Income Tax Expense (Benefit)	$ 8,911	$ 7,868	$ 6,570

INCOME TAXES

12 Months Ended

Dec. 31, 2023

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 (income) before taxes on income is comprised as follows:


	Year Ended December 31,
	2023		2022		2021

Domestic	$	45,625	$	66,346	$	75,259
Foreign	(8,170)		(5,719)		(22,478)

Loss before taxes on income	$	37,455	$	60,627	$	52,781

The provision for income taxes was as follows:


	Year Ended December 31,
	2023		2022		2021

Current provision:
Federal	$	—	$	—	$	—
State	83		88		65
Foreign	8,410		7,780		6,505
	8,493		7,868		6,570
Deferred provision:
Federal	171		—		—
State	247		—		—
Foreign	—		—		—
	418		—		—
Total provision for income taxes	$	8,911	$	7,868	$	6,570

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, 2023 and 2022, 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,
	2023		2022

Deferred tax assets:

Net operating losses carryforward	$	69,160	$	71,887
Disallowed business interest expense	4,023		4,760
Capitalized R&D costs	26,126		16,322
Reserves & accruals	1,486		1,489
Deferred revenue	378		283
Lease liability	829		1,009
Stock based compensation	5,823		2,710
Intercompany payable	5,498		—
Other assets	77		49

Deferred tax assets before valuation allowance	113,400		98,509
Valuation allowance	(101,237)		(84,795)

Total deferred tax assets, net of valuation allowance	$	12,163	$	13,714

Deferred tax liabilities:

Intangible Assets	(970)		(798)
Deferred contract acquisition and fulfillment costs	(7,686)		(8,782)
Internal use software	(2,988)		(3,073)
Operating lease right-of-use assets	(742)		(923)
Property and equipment	—		(138)
Other	(195)		—

Total gross deferred tax liabilities	$	(12,581)	$	(13,714)

Total net deferred tax liabilities	$	(418)	$	—

As of December 31, 2023, the U.S. parent company had a net U.S. operating loss carry forward ("NOLs") for federal income tax purposes of approximately $258,007 and U.S. state NOLs of approximately $183,555. Out of the operating losses attributed to the U.S. parent company, $143,229 were generated before January 1, 2018, and are subject to the 20-year carryforward period. The remaining $114,778 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,
	2023			2022			2021

Loss before tax as reported at the consolidated statement of operations	$	37,455		$	60,627		$	52,781

Statutory tax rate	21		%	21		%	21		%

Theoretical tax benefit	$	(7,866)		$	(12,732)		$	(11,084)

Non-deductible expenses and other permanent differences	1,026			154			403
Remeasurement of warrants to Fair Value	—			—			3,160
Stock based compensation	2,403			2,193			3,651
Change in valuation allowance	16,842			9,745			13,232
State taxes, net of federal benefit	(2,898)			4,946			(3,700)
Income tax at rate other than the U.S. statutory tax rate	1,613			3,045			320
Exchange rate differences	(511)			332			(100)
Return to provision adjustments	(1,321)			—			—
Other	(377)			185			688

Total tax expenses	$	8,911		$	7,868		$	6,570

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, 2023, 2022 and 2021. 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, 2023, approximately $520 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 $130 would be incurred as of December 31, 2023.

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, 2023.

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


	Unrecognized Tax Benefits

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

Decreases related to prior years' tax positions	—
Increases related to current years' tax positions	1,815

Balance as of December 31, 2023	$	7,141

The total amount of unrecognized tax benefits that would affect the effective tax rate, if recognized, was $7,141 and $5,326 as of December 31, 2023 and 2022.

The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2023 and 2022, the Company had accrued $373 and $467 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022 was as follows:


Statement of Operations Location:	Year Ended December 31, 2023		Year Ended December 31, 2022

Cost of revenue	$	326	$	230
Research and development	1,182		727
Sales and marketing	278		190
General and administrative	427		249
Restructuring	28		22

Total	$	2,241	$	1,418