SCHEDULE: Gagnon Entities Increase Kaltura Stake to 5.8%

Gagnon Securities LLC, Gagnon Advisors, LLC, and Neil Gagnon collectively report beneficial ownership of 5.8% of Kaltura, Inc. common stock, totaling 8,869,949 shares.

Summary

• Gagnon Securities LLC, Gagnon Advisors, LLC, and Neil Gagnon have jointly filed a Schedule 13G, reporting their aggregate beneficial ownership of Kaltura, Inc. common stock.
• The total number of shares beneficially owned by these entities and individuals is 8,869,949, representing 5.8% of the class of securities.
• This ownership is based on 152,551,223 shares of Common Stock outstanding as of August 3, 2026, as per Kaltura's Form 10-Q filed on August 5, 2026.
• Neil Gagnon holds sole voting and dispositive power over 496,327 shares.
• Gagnon Securities LLC has shared voting power over 5,086,143 shares and shared dispositive power over 5,256,399 shares.
• Gagnon Advisors, LLC has shared voting power over 2,487,034 shares and shared dispositive power over 2,487,034 shares.
• The filing clarifies that the reporting persons disclaim beneficial ownership of securities held in various customer accounts, foundations, partnerships, and trusts managed by Gagnon Securities LLC and Gagnon Advisors, LLC, except to the extent of their shared voting and dispositive powers.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, indicating a significant but not overwhelming increase in beneficial ownership by a key investment entity and its principal. The filing details a substantial stake, but without explicit commentary on future intentions, it remains a factual disclosure of ownership.

Positives

• Increased stake by a significant investment entity (Gagnon Securities LLC) and its principal (Neil Gagnon) suggests confidence in Kaltura's long-term prospects.
• The aggregate ownership of 5.8% indicates a substantial investment position in the company.
• The filing is a routine disclosure, indicating no immediate negative events or forced selling.

Negatives

• The filing does not provide any specific strategic rationale or future investment plans, leaving the intent behind the increased stake open to interpretation.
• While a significant stake, it does not represent a controlling interest, limiting immediate influence on company direction.

Risks

• Market volatility could impact the value of the reported stake.
• Changes in investment strategy by Gagnon entities could lead to future sales of shares.
• Potential for increased scrutiny from other investors or regulators due to the significant ownership position.

Future Outlook

The filing itself is a disclosure of current ownership and does not contain forward-looking statements or guidance from Kaltura, Inc. The future outlook for the reported stake depends on the investment strategies of Gagnon Securities LLC, Gagnon Advisors, LLC, and Neil Gagnon.

Management Comments

• Reporting persons Gagnon Securities LLC, Gagnon Advisors, LLC, and Neil Gagnon expressly disclaim beneficial ownership of all securities held in various customer accounts, foundations, partnerships and trusts, except to the extent described.
• The reporting persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

StockSavvy.ai notes that increased institutional ownership, as reported in this Schedule 13G, is a common occurrence in the SaaS and video technology sectors where Kaltura operates. Such filings often signal sustained or growing conviction from investors in the company's market position and growth potential.

Stakeholder Impact

• Shareholders: The increased stake by a significant investor may be viewed positively, potentially signaling confidence and stability, but also raises questions about future strategic moves.
• Management of Kaltura, Inc.: May need to engage with Gagnon entities regarding their investment strategy and outlook.
• Other Investors: May interpret this filing as a sign of institutional conviction, potentially influencing their own investment decisions.

Next Steps

• Gagnon entities will continue to manage their investment in Kaltura, Inc. according to their investment strategies.
• Future amendments to this Schedule 13G will be filed if beneficial ownership changes significantly.

Key Dates

Keywords

Kaltura, Schedule 13G, Beneficial Ownership, Gagnon Securities, Investment Adviser, Common Stock, SEC Filing, Ownership Stake