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CS Disco -16% After Mixed Q1 Results

Benzinga ·  May 10 12:55

$CS Disco (LAW.US)$ reported mixed results, with total revenue was $35.6 million, up 7% year over year, but a GAAP net loss was $10.6 million, compared to $20.4 million in Q1 2023. Software revenue was $29.9 million, up 9% compared to the first quarter of 2023.

“We are happy to announce that this quarter we saw our fourth consecutive quarter of year-over-year revenue growth as well as the launch of new core platform and Cecilia AI features,” Chair Scott Hill said.

The firm also introduced a new CEO.

“We are also excited to introduce Eric Friedrichsen as the CEO of DISCO. Eric’s deep operational background in sales and product, combined with a history of scaling software businesses and building organizations with strong cultures, makes him uniquely positioned to lead DISCO into the next stage,” Hill said.

In forward looking statements, the firm saw a Q2 with software revenue in the range of $29.0 - $30.0 million, and total revenue in the range of $34.5 - $36.5 million. For the full year, the firm sees software revenue guidance in the range of $120.0 - $124.0 million, and total revenue guidance in the range of $143.0 - $151.0 million.

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