Q1 2025 CS Disco Inc Earnings Call Transcript
Key Points
- CS Disco Inc (LAW) reported total revenue of $36.7 million for Q1 2025, which was towards the high end of their guidance range.
- The company saw an 8% year-over-year increase in customers contributing more than $100,000 in total revenue over the last 12 months.
- CS Disco Inc (LAW) launched a new customer value proposition, 'With You In Every Case,' to better communicate their full value proposition to customers.
- The company reported significant growth in their Cecilia generative AI suite, with Cecilia Q&A customers growing 5x from Q1 2024.
- CS Disco Inc (LAW) ended Q1 with $118.8 million in cash and short-term investments and no debt, indicating a strong financial position.
- Adjusted EBITDA for Q1 was negative $5.1 million, representing a negative 14% margin.
- Operating cash flow in Q1 was negative $10.5 million, compared to negative $7.3 million in Q1 of the prior year.
- The company reported a net loss of $4.9 million for Q1, which is a slight increase from the net loss of $4.7 million in Q1 of the prior year.
- Research and development expenses increased to 33% of revenue in Q1, up from 28% in the prior year, driven by increased personnel costs.
- Despite positive signals, the company acknowledged external volatility and macroeconomic concerns, which could impact future performance.
Ladies and gentlemen, thank you for standing by, and welcome to CS Disco's first quarter of fiscal year 2025 conference call. (Operator Instructions) I would now like to hand the conference over to your first speaker today, Head of Investor Relations, Aleksey Lakchakov. Please go ahead.
Good afternoon, and thank you for joining us on today's conference call to discuss the financial results for DISCO's first quarter of fiscal year 2025. With me on today's call are Eric Friedrichsen, DISCO's Chief Executive Officer; and Michael Lafair, DISCO's Chief Financial Officer.
Today's call will include forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our financial outlook and future performance, our future capital expenditures, market opportunity, market position, product and go-to-market strategies and growth opportunities, and the benefits of our product offerings and
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