The following is a summary of the CS Disco, Inc. (LAW) Q2 2024 Earnings Call Transcript:
Financial Performance:
CS Disco reported a total revenue of $36 million in Q2 2024, which is up 5% year-over-year.
Software revenue increased to $29.3 million, representing an 8% growth compared to the previous year.
Adjusted EBITDA was negative $4.7 million, a slight improvement in margin at negative 13% compared to negative 22% in the same quarter the previous year.
The net loss was $4.4 million, improving from a net loss of $6.5 million in Q2 of the previous year.
Business Progress:
CS Disco is focusing on customer-focused organization, operational effectiveness, and cultural improvement to drive revenue acceleration.
The company is restructuring its sales and marketing approach to better address and meet the needs of top-tier customers such as Am Law 100 firms.
Major product enhancements include Cecilia Auto Review and in-app mass redactions feature in Ediscovery suite, aimed at improving case handling efficiency.
Opportunities:
Disco highlighted the need to improve penetration within existing large customer accounts and utilize AI tools like Cecilia Auto Review for scaling operations efficiently.
Focus on enterprise-level customer acquisitions and expansions to increase wallet share and customer satisfaction.
Streamlining internal operations through better cross-functional collaboration and technology deployment to enhance customer service and outcomes.
Risks:
Material adoption of new technologies such as Cecilia Auto Review and Cecilia Q&A may take time, possibly affecting immediate revenue impact from these innovations.
More details: CS Disco IR
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