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Mar 31, 2024
CS Disco Q1 2024 Earnings Report
Reported fourth consecutive quarter of year-over-year revenue growth and launched new core platform and Cecilia AI features.
Key Takeaways
CS Disco's total revenue reached $35.6 million, marking a 7% increase compared to the first quarter of 2023. The company's GAAP net loss was $10.6 million, an improvement from the $20.4 million loss in the same period last year.
Software revenue was $29.9 million, up 9% compared to the first quarter of 2023.
Total revenue was $35.6 million, up 7% compared to the first quarter of 2023.
GAAP net loss was $10.6 million, compared to $20.4 million in the first quarter of 2023.
Adjusted EBITDA was ($5.2) million, compared to ($13.0) million in the first quarter of 2023.
Forward Guidance
DISCO is issuing the following outlook for the second quarter of 2024 and fiscal year 2024:
Positive Outlook
- Software revenue in the range of $29.0 - $30.0 million for Q2 2024.
- Total revenue in the range of $34.5 - $36.5 million for Q2 2024.
- Adjusted EBITDA in the range of ($7.5) - ($5.5) million for Q2 2024.
- Software revenue guidance in the range of $120.0 - $124.0 million for fiscal year 2024.
- Total revenue guidance in the range of $143.0 - $151.0 million for fiscal year 2024.
Challenges Ahead
- Adjusted EBITDA in the range of ($26.0) - ($19.0) million for fiscal year 2024.
- Second quarter and fiscal year 2024 financial outlook is based on assumptions that are subject to change.
- Actual results may vary from these assumptions.
- There can be no assurance that DISCO will achieve these results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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