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Dec 31, 2023
CS Disco Q4 2023 Earnings Report
CS Disco reported a revenue increase of 10% year-over-year and a reduced GAAP net loss compared to the same quarter last year.
Key Takeaways
CS Disco announced its Q4 2023 financial results, featuring a 10% increase in total revenue year-over-year, reaching $35.7 million. The company also reported a GAAP net loss of $5.8 million, significantly lower than the $18.7 million loss in Q4 2022. The customer base grew by 9% to 1,441 customers. Looking forward, DISCO provided its Q1 2024 revenue guidance in the range of $34.5 - $36.5 million.
Total revenue increased by 10% year-over-year to $35.7 million.
GAAP net loss improved to $5.8 million, compared to $18.7 million in the fourth quarter of 2022.
Adjusted EBITDA was ($1.0) million, improved from ($11.2) million in the fourth quarter of 2022.
Customer count grew by 9% year-over-year, reaching 1,441 customers.
Forward Guidance
DISCO provided financial outlook for the first quarter and full year 2024.
Positive Outlook
- First quarter total revenue is expected to be in the range of $34.5 - $36.5 million.
- First quarter software revenue is expected to be in the range of $29.5 - $30.5 million.
- First quarter Adjusted EBITDA is expected to be in the range of ($8.0) - ($6.0) million.
- Full year total revenue is expected to be in the range of $143.0 - $155.0 million.
- Full year software revenue is expected to be in the range of $120.0 - $127.0 million.
Challenges Ahead
- Full year Adjusted EBITDA is expected to be in the range of ($26.0) - ($19.0) million.
- First 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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