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Jun 30, 2023
CS Disco Q2 2023 Earnings Report
CS Disco's financial performance remained stable with a slight revenue increase and significant progress towards profitability.
Key Takeaways
CS Disco reported a 2% increase in total revenue, reaching $34.3 million. The company has made significant progress toward profitability with approximately 40% improvement in Adjusted EBITDA quarter over quarter. Customer count grew by 14% compared to the second quarter of 2022, reaching 1,431 customers.
Total revenue increased by 2% year-over-year, reaching $34.3 million.
GAAP net loss improved to $14.9 million, compared to $20.2 million in the second quarter of 2022.
Adjusted EBITDA improved to ($7.4) million, compared to ($12.4) million in the second quarter of 2022.
Customer count grew by 14% year-over-year, totaling 1,431 customers.
Forward Guidance
DISCO provided financial outlook for the third quarter and full year 2023.
Positive Outlook
- Third quarter revenue is expected to be in the range of $33.0 - $35.0 million.
- Third quarter Adjusted EBITDA is expected to be in the range of ($8.0) - ($6.0) million.
- Full year revenue is expected to be in the range of $135.0 - $145.0 million.
- Full year Adjusted EBITDA is expected to be in the range of ($34.0) - ($30.0) million.
- The company has scaled its business to over $130 million in revenue.
Challenges Ahead
- Third quarter and fiscal year 2023 financial outlook is based on assumptions that are subject to change.
- Actual results may vary if assumptions change.
- There is 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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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