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Mar 31, 2023
CS Disco Q1 2023 Earnings Report
Announced first quarter 2023 financial results with total revenue of $33.1 million, a year over year decrease of 4%.
Key Takeaways
CS Disco's first quarter 2023 revenue was $33.1 million, a 4% decrease year-over-year. The company announced the expansion of its operational footprint into India and several new products and features, including the upcoming launch of its AI chatbot, Cecilia.
Total revenue was $33.1 million, down 4% compared to the first quarter of 2022.
GAAP net loss was $20.4 million, compared to $11.8 million in the first quarter of 2022.
Adjusted EBITDA was ($13.0) million, compared to ($7.8) million in the first quarter of 2022.
DISCO grew to 1,388 customers as of March 31, 2023.
Forward Guidance
DISCO is issuing the following outlook for the second quarter of 2023 and fiscal year 2023:
Positive Outlook
- Second quarter of 2023 revenue in the range of $31.0 - $33.0 million.
- Second quarter of 2023 Adjusted EBITDA in the range of ($12.0) - ($10.0) million.
- Fiscal year 2023 revenue in the range of $135.0 - $145.0 million.
- Fiscal year 2023 Adjusted EBITDA in the range of ($40.0) - ($36.0) million.
Challenges Ahead
- DISCO’s second quarter and fiscal year 2023 financial outlook is based on assumptions that are subject to change, many of which are outside of its control.
- If actual results vary from these assumptions, these expectations may change.
- There can be no assurance that DISCO will achieve these results.
- Reconciliation of Adjusted EBITDA on a forward-looking basis to net loss is not available without unreasonable efforts due to the high variability and complexity and low visibility with respect to the charges excluded from this non-GAAP measure.
Historical Earnings Impact
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