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Sep 30, 2023
CS Disco Q3 2023 Earnings Report
CS Disco reported record-breaking revenue and a 10% year-over-year increase in customer count.
Key Takeaways
CS Disco's total revenue reached $34.9 million, a 1% increase compared to the third quarter of 2022. The company's GAAP net loss was $1.0 million, significantly improved from the $20.1 million loss in the same period last year.
Total revenue was $34.9 million, up 1% year-over-year.
GAAP net loss improved to $1.0 million, compared to $20.1 million in Q3 2022.
Adjusted EBITDA was ($4.5) million, an improvement from ($13.1) million in the third quarter of 2022.
Customer count grew to 1,449, a 10% increase compared to Q3 2022.
Forward Guidance
DISCO provided financial outlook for the fourth quarter and full year 2023.
Positive Outlook
- Revenue is expected to be in the range of $34.0 - $36.0 million for Q4 2023.
- Adjusted EBITDA is projected to be in the range of ($7.0) - ($5.0) million for Q4 2023.
- Full year 2023 revenue is anticipated to be in the range of $136.3 - $138.3 million.
- Adjusted EBITDA for the full year 2023 is expected to be in the range of ($31.9) - ($29.9) million.
- Company anticipates integrating primary law into its solution to automate drafting of legal documents and research memos.
Challenges Ahead
- Financial outlook is based on assumptions that are subject to change and are outside of DISCO's control.
- Actual results may vary from the provided assumptions.
- There is no assurance that DISCO will achieve the expected results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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