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Jun 30, 2022
CS Disco Q2 2022 Earnings Report
CS Disco's Q2 2022 financial results were announced, with total revenue of $33.7 million, marking a 14% year-over-year increase.
Key Takeaways
CS Disco reported Q2 2022 financial results, showcasing a 14% year-over-year revenue increase to $33.7 million. The company's customer base grew by 27% year-over-year, reaching 1,255 customers. However, the GAAP net loss was $20.2 million, a significant increase compared to $3.1 million in the same quarter of the previous year. The company issued financial outlook for Q3 and full year 2022.
Total revenue reached $33.7 million, a 14% increase compared to Q2 2021.
GAAP net loss amounted to $20.2 million, compared to $3.1 million in Q2 2021.
Adjusted EBITDA was ($12.4) million, compared to ($1.6) million in Q2 2021.
Customer count increased to 1,255, representing a 27% year-over-year growth.
Forward Guidance
DISCO issued financial outlook for the third quarter of 2022 and fiscal year 2022.
Positive Outlook
- Q3 2022 revenue is expected to be in the range of $32.0 - $34.0 million, representing year-over-year growth between 7% and 14%.
- Full year 2022 revenue is projected to be in the range of $132.0 - $136.0 million, indicating year-over-year growth between 15% and 19%.
- The company continues to innovate its full-stack solution, enhancing tools for customers to transform the practice of law.
- The company opened a new headquarters in downtown Austin, Texas and a new office in New York, New York.
- Kiwi Camara, Co-Founder and CEO of DISCO, was named an Entrepreneur of the Year® 2022 Central South Award finalist.
Challenges Ahead
- Q3 adjusted EBITDA is expected to be in the range of ($19.5) - ($17.5) million.
- Full year 2022 adjusted EBITDA is projected to be in the range of ($60.0) - ($56.0) million.
- The company's financial outlook is based on assumptions that are subject to change and outside of their control.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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