LAW - Earnings call transcript Q2 2022

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the CS Disco's Second Quarter of Fiscal Year 2022 Conference Call. At this time, all participants are in a listen-only mode and all lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your first speaker today, Lee Robinson, CS Disco, Investor Relations. Please go ahead.

Lee Robinson

you the us second financial thank call today’s quarter and discuss to results afternoon for on joining conference XXXX. Good for Disco’s Founder and on Chief Financial me today’s are Camara, With call Officer. Executive Lafair, Michael Disco’s Officer Disco’s Chief Kiwi and

call, Harbor of third financial and of for XXXX, year outlook, within During third limited opportunities. year update growth full quarter regarding Safe provisions Litigation quarter the and the we Reform the strategy, fiscal our discuss XXXX. financial review the XXXX XXXX, to our of will Private meaning Act fiscal statements market year an our the including Securities fiscal and will for and not our include opportunity, guidance including, Today’s market guidance second our but quarter, product today’s results of for statements forward-looking call the position, on

filings, of on addition our release, prepared remarks, our Relations be found press earnings can replay and SEC our irs.cscisco.com. call In a website Investor to today's

Forward-looking uncertainties actual that from the statements statements. expressed to achievements or may risks materially those be forward-looking and unknown performance, or our implied results, cause by known and involve different

March XXst, titled our the with XX-Q company's in and the ended the on financial in of Form only June and filed quarterly report quarter beliefs date on XXXX, Factors for XXth, ended for made. SEC with the Risk the the filings XXth, its including Information upcoming represent XX-Q on Form the company's XXXX assumptions section May results time-to-time, XXXX. statements factors Forward-looking quarter the the affect management’s could included that as company's in from SEC

to financial in earnings discussion GAAP and release. non-GAAP is performance prepared available and will substitute GAAP measures their our call, financial closest reconciliation discuss of in today’s superior call measures. financial in I’d to turn over like addition These during financial measures non-GAAP equivalents measures to not non-GAAP limitations non-GAAP Kiwi. versus of with accordance A of the or for addition, a GAAP. a measures With the that, we are between and using to In

Kiwi Camara

for our call. Welcome QX joining XXXX thank and you earnings

marked just XX big some company. completion we public as QX, In amazing first of months on a our brought new have We the a hires. milestone

in mentioned earnings our our new Human added Jignasha last Officer Chief Grooms. As to we call, Resources

We Furr who us from also Marketing drive Tom and brand brought MongoDB will on new a awareness. Officer, Chief Disco's help joined

President brings and need. Rotation firm In United XX interns We Emerging as into Innovation of We States. interns formerly Vice want deep Katie Katie Leaders served of from Disco's universities Chief Product Program. class June, across DeBord, also inaugural expertise Bryan XX Global top Cave, and graduates joined domain welcome law in the at the and who different lawyers insight new Strategy Officer brought the and associates XX our what

Following emerging that an sales, and every and the HR. intensive learning product, company, legal including who and hackathon, our of our leaders part and marketing, included school joined have business law these tech onboarding experience industry finance, program many

next that million, this QX our range. talk their program Revenue the three-year them of see and talent QX each results. generation develop excited We for I'll about impact guidance the at of make to are was now And will $XX.X our midpoint during Disco. of associate above

especially on particular in our true QX nature volatility lack usage of drive our XXXX platform. This in explained product. XX% our each nature In based of of from large revenue. increased and XX% how revenue when the volatility grew a in number revenue and very a earnings calls, grew small in benefited or revenue challenging as activity, can Review QX result can large result of changes timing in despite especially is the business usage Our cases, we of a cases, in comparison for Activity, our our of have reviews.

performance in continued in strong in we Ediscovery experienced to QX, we see this business. While volatility Review our

a guidance that our is philosophy. As of one informs the reminder, considerations this

to steady an customer our a pace, add growing of June XX% X,XXX to as of new customers increase continued We at XX, year-on-year. count

legal growth steady count from new come of the products. our future reflects growing happens software-based platform by the and these Our adoption our customers work customer growing to solutions customers our growth expanding market. We on will of add from cloud in the percentage and all in across both computing believe their that continuing

how you talked have is give We about update progressing. I'd on that to like an scaling extensively organization, our go-to-market

across We track development success. salespeople, quota representatives, sales carrying hiring with are on and customer

invest to representatives productivity, each success increasing person of are teams, which and behind customer our continue both seeing and a development shown success the we in with aggregate basis. on the has We per sales

especially One sellers now our of benefit of can at when a Disco half lead we our than have for our one organization scaled capacity, from sales more learnings year. have generation carrying less ratio as go-to-market that is to quota we than been higher of

half representatives, in accounted have we marketing sales monitor a We small early basis. marketing closely are a the achieving customer success QX the investing go-to-market for our capacity investment seen generation this increase programs. relatively in Furr performance, Tom both the and with percentage our albeit, preparing marketing in continue aggregate in our of Historically, CMO, year. addition the accelerate from on QX our at and development are with success, to marketing programs, Across unit scale, in we by second the new leads of lead in investments, of and programs programs limited all we to and have

needed adjust engagement we capturing us continue go-to-market about and front investments We as the direction out opportunity of our of unique team. technology excited legal to as system and record in committed remain a our to pace and We scale for the build function. to the of will

with provider. number DISCO ability up user-friendly self-service needed liked University vendors review was Disco's the ability won how three-year evidence, a incumbent successfully large and subscription of to and a modules. The RFP and its the a We easily in understands the time impressed AI advisory concepts and to customer use well-known against we through learn time. context, and with quarter, firm. and our This training Ediscovery They with deal platform unseated capabilities, the technology improves on-demand of reduces content, were

customers renew, notable we're including We Request expansion In the company QX existing existing to see a have from the large had new been space. Hold consumer XXXX. the during a acquired excited Request enterprises, and product These in are pleased customers and with interest and in and period. around tech that the excitement our feedback portfolio Hold we we of of QX, on and the with products

user experience investing our In most new direct result the effective a very lawyers our providing of to Disco in Disco enterprises of domain We and excited on capabilities. in and laser-focus features to deep in legal chain continue company's intuitive Request that Hold in world-class are get a accelerating and faster, and for QX, legal A help products rollout proposition engineering. combining platform see our Part complement on the value with we early get customers. work. also while is the of value of performance evidence other door commitment expertise to our the

find relevant enables easily groups searching Users topic the of AI topical that proprietary entire language of quickly customers like One from is quickly the have for insight to indexes Indexing down themselves contents table with review. of of subtopics, with and document Automatic documents identify exploration groups human lawyer help to before learn This The the lawyers with works the outline content. and universe. of documents together, helps a an are lawyers extracted the generated of generated documents into of directly content Clustering quickly any case an language similar documents, to use announce from AI This allow clusters that Clustering Topic into the and our clusters navigable with phrases are and records gain Topic to a list. highly inform anticipated to use we organized proud further on feature quickly to large Indexing. Automatic able drill users subject matter explore innovations our an capitalizes datasets. to

improve We factors risk interest in inflation a are like improvements may macroeconomic there of our platform is lawyers understand incremental economy evidence making We to always ultimately quality the life. faster slowing our how business. understanding great impact their that help and and to get of

would As to plan these questions sense to investor seeing, it with conversations, make share we are as you what we're frequently this thought we raised environment. how in as manage well through

find during financial resilient. we over if you the ago, While didn't Ediscovery that data historical was relatively you'll the what the is analyze market exist a market decade crisis global

healthy of market As growth according a Ediscovery an the matter between industry report, to experienced XXXX and XXXX. fact,

periods disputes during growth. categories will deal We cyclical our capital a with and of as experienced Ediscovery of litigation environment. investigations demand to law or as of such be will regardless be disputes software markets. primarily While There and tepid law, always continue believe economic compared more less as macroeconomic parts of many customers to areas the the that corporate of contraction, much transactions

required investigations. time law work for are ones. potentially but like all technology departments and to and were and technology tout efficient IT reports is a Disco perspective legal We complex IT have in of of only for all to cost moderated seen to legal disputes using both benefits continued of make in more kinds legal the that customers' our we growth not While spending, lawyers budgets critical We budgets, provide firms.

see market after for ahead philosophy overall of We from current of more legal We is intend Disco's opportunity have like before the on to a handling our work customers and into investment interest that continue large in efficient large outlook particular climate. us. Disco I'd a way the Michael heard volumes delivering on numbers. conclude and to gets go focus to of of the

products fiscal While the previously deeply we we account organization. long-term way lawyers which transform legal volatility and we Review the go-to-market are I committed Using departments of discussed, for technology to moderating investing in guidance in primarily vision the are committed. and is a of that our our to the to in scaling work on remain year,

are built that as over software it the our position now industry. Michael about front the the to we in our and are build us turn financial well to and business us to we products legal enduring large opportunity I'll ever as a resolute transforms of in have results We team as and guidance. excited discuss and belief

Michael Lafair

of XXXX. quarter to our the like that any revenue length for given business matters, will time usage of update quarter. model volume and guidance factors of of based for driven data, number reiterate fiscal platform, Thank that usage QX is provide may impact by on recent now I and primarily details on and that a in results other on outlook the the you, is nature platform, our the our XXXX an discuss I'd Kiwi. year of

guidance our of Kiwi As midpoint range. was revenue above mentioned, $XX.X million, QX the

had Review. statement, Ediscovery performance the year-on-year Request remainder volatility While traction products, by non-GAAP discussing are the of some of and income Hold all operating and our share our to In on please references count seeing revenue we're newest particularly strong usage impacted and our was by otherwise expenses, with unless specified, results, in basis. that note a in customers,

was gross XX% QX the Our up of in from QX margin in year. XX%, prior

from data based of types a managed margins As fluctuate platform. and our example, our on period-to-period reminder, for on ingested gross and the amount

quarter We expect and prior million XX% or we've This QX continue of revenue compared year. million of QX Sales the revenue in the marketing represents $X historically to be an to approximately gross to bands XX% in increase the was margin of in seen. of year-on-year. $XX.X within expense

we previously on organization. been in As investing go-to-market we've our mentioned, focused

feel the time in right ahead. continue order our capture to invest We business and that scale opportunity the is now to to

$X of continue invest of provide year. QX new closely General we or the measuring product customer revenue ramp million million an are revenue compared in of the as is of expense increase we're of This focused year-on-year. an was and or a quarter development on for XX% prior in represents increase our the hires, administrative QX to to platform investments monitoring the there prior to in experience. on in in expense $XX.X revenue we $X.X to in represents QX in million While revenue in and people. magical quarter XX% in our returns XX% order are over Research and personnel making million year. innovation of over year-on-year was of This of of and who XX% compared time QX the $X.X

EBITDA due XX% our increasing guidance a in the a have was business, in our QX year. $XX.X of quarter. added than better a lower or negative of QX to margin than negative share of Net loss prior Adjusted gross million, the QX G&A a year. QX margin margin or compared negative of organization scale in We expenses support accounting negative in to to EBITDA revenue compared in margin finance expected loss our revenue the negative million net Overall, was loss representing following organization to to QX per net HR X% to strategically negative prior and loss compared and of $X.XX a our X% negative in of teams. strong QX particularly our the X% of the was and loss $X.X per $X.XX Operating in the was IPO year. in compared prior $XX.X Net to year. million of of of share prior million QX XX% in was QX, XX% of of in $XX.X

with in cash million compared was million the year. cash in sheet balance $XX.X of to QX QX flow $XXX.X negative Operating the $XX.X Turning equivalents. million in cash ended QX statement, and we cash negative flow prior and

outlook. turning to Now, the

For revenue midpoint. of in QX the XXXX, range at million growth million, we're XX% to $XX the year-over-year guidance representing providing $XX

XXXX, to of negative the EBITDA XX% million, million QX midpoint. $XX.X of adjusted we're negative guidance negative adjusted in at providing EBITDA the $XX.X For range margin representing

to As go-to-market the be share to we investment out will to Disco previously while in in our want our from opportunity we prudent decisions, are to continue that position our grow invest market capabilities. long-term product we and additional believe adding mentioned, building significant to continuing We capture. well-positioned team

the $XXX of to to million we're lowering revenue XX% representing midpoint. For guidance the our growth XXXX, at million, $XXX range the year fiscal full

$XXX guidance back original materialize will half and our incorporates may We our rate revenue conservatively the Ediscovery the XXXX growth primarily annual XXXX business Review anticipate potential XX%. in of an in product revenue for of revised attributed over in Our is headwinds to volatility that and year. have than the that more the with million incremental

we negative midpoint, For the adjusted EBITDA negative the to an of range million full $XX of negative expect margin representing XXXX, fiscal year a at XX% $XX million.

business the in our We organization invest of to opportunity and are the front capture continuing scale in us. to

to stakeholders, law, work our on on market continue practice hear feedback We providing the positive from performed. products best the We're of and to providing delighted most the legal our the focused to innovation in kind we customers, are to is transforming these to way we for the important our the scale people Disco of fruition. acknowledge achieve. our market growth reach We a see opportunity customers. huge want in to and and investments to are We investing organization and reach that take time

will over open to market its in Disco's up drive leadership in for to industry We to I'd disruption. an line the now share the for to Operator? like ripe technological operator will they turn call Q&A. transformation. continue the pursue And

Operator

to Lafair. Bank go Mr. first Ikeda of Instructions] you, Thank America [Operator We Koji with

Koji Ikeda

coming on topical guys the of here out my questions. be to you guys, dig in to is quarter. clearly going Hey, very taking thanks for of guide, I for kind wanted this the

wondering like percentage Ediscovery the granular volatility And kind XXXX you appreciate with a commentary Why the Review? quarters? But maybe XX% that a it the might revenue thinking some was about there past as bit out percentage about there is it Review, be kind or much considered on of down? anything guidance, just in several falling revenue. get contribution Thanks, anything the understand call thinking guide the else cases guidance, total the off? of that about But Michael, that maybe over how big of guys. could totally for And Review looks was product. to so on more guidance? the with if Is revenue causing the much of why So, there is

Kiwi Camara

Koji. Thanks

that Disco So, being sizes. three business total larger enables up Ediscovery We've adopt who spend the their on much ticket principally Review, talked past in our customers and review two multiple products, their spend times Ediscovery, to alone. wind can

driven Reviews. ticket that's So, by big

this than earlier caused large consequence, in revenue as you two bill three the the Review home quarter, is by addition, of in volatility a on than reviews, In is million relatively in whole run. business of perspective, or a To more the a a the in make great as scale business. put And timing focus the Ediscovery a reviews. or there activity Review three business more bit if a those that two quarter, it complete make dollars Reviews, in quarter a more

the so large reviews. about, And kind absence the is low number single-digit of presence of that talking we're a of driven volatility by or

Operator

Citi. to Thank Tyler now at you. Radke We next go

Tyler Radke

taking for question. thanks Yes, the

like, difficult that expect a term the sense, kind you're longer to you to us trend? -- basis Maybe do your the significant a today. pretty pace. still you're is obviously making So, pretty give healthy normalized investments, revenue environment at obviously, like it maintaining posture. a understanding on of but But how growth mean, just you cut guidance, investment largely a macro long looks I

the levels So in presumably, market the I for us guess for? think you're just this achieving we change in But you're long year, growth seeing help no term investing and beyond what about you. frame as Thank opportunity.

Kiwi Camara

pleased Yes. in year of growth count. customer year. is in the We representing We've with our disclosed continued at on remarks that now prepared customer XX% X,XXX growth steady been count

in little bit platform and any focusing in is usage So, nature quarter. created on the way particular of customer volatility count volume by from abstracts that changes the by on a particular our customers

the market count, aggregate In teams. addition and growth to productivity to a our productivity bit I steady across about that talked and unit go customer

out time sixth we quarter go about that to Now, at with build into IPO. the are market that four talked quarters I

business fundamentals to tracking us level to those appetite give and of all an our our of be well, So seem investment. continue

level the we performance see based and to market in conditions adjust time we the direction investment on time the business. Although, of from of and course, our

product, mentioned to term our particular volatility will revenue Ediscovery this revenue matters. of of XX% do anticipate that product level growing of that in particular that year, amount remarks million terms we or growth, In decreases scale, than customers, that more by gotten Michael year-on-year, than his original of is $XXX a created has long more the

can a that ticket spending would over time, Hold, Builder, two customers I us This of so growth, what Request. talked larger be encouraging materially And continuing wind like will newer we Disco Disco are of legal on using accelerate on you these up on products that layering those as a who kinds there base the gives Disco products, about things opportunity legal And how continuing to three in of those to Disco as the expand times, work by spend customers we've think more Ediscovery think add Review, unlock pace, Case can Disco and customers top times invested multiple leads platform. both which at sizes, products and and alone. steady move workloads by they we've demonstrated, an to to to new to have more

Tyler Radke

Thanks.

So just a --

Operator

Thank Wood you. now & Derrick at go Company. to next We Cowen

Derrick Wood

in Thank sense and customers you. to fact, customer why Or from in technology behavior changed more macro some lost I has doing? guess the is, little you dramatically market I shed guess, do ROI? behavior demand headwinds, over doing more color what considering how to what strong kind talked a this is is can on leads disputes last Why your months? is using it you just just often especially Review? get Kiwi. litigation due play I the And to you so withstands activity. perhaps a strength and three Review it's prepared the trying bit for your you're in your remarks, change about a out, seeing mean, of think

Kiwi Camara

usage a more would customer's more than three the bill in cause a run platform. reviews, presence dollars cause to great large lost Sure, to reviews more three it's on in the home a would And be it of an less million quarter, absolute this quarter. to this about quarter. to and to two be two perspective, changes reviews the Again, in customers put about

in We're the talking rates seeing not do of volatility you ticket from I which we're with customer anything or demonstrated in the different digit absence cycle times in or demand reviews. has or that presence business count, to sales like And extent low big that some usage. that. environment single about abstracts we've growth a the win or the fundamentally So this shown in away anything Review can in volatility see of to steady in in number think the

Operator

gentlemen, you. go limit please We and just one Ramnani yourself And ladies reminder, at next Arvind to Sandler. Piper question. now at Thank to

Arvind Ramnani

Hi, thanks for taking my question.

ask guidance to differently bit a So a overall of that have couple kind clients I and want impact of on this the may Review. little just question on

part you like, of your type good just basically range the we as quarter, the more of volatility good have clients given, of kind Would if two, five quarter, you million? may expect should that's clarified, volatility between or the then at than business this And quarter really quarter. three and the difference an case, the look repeatable? So excellent of guidance or of to investor, this we is quarter, just make type four provide okay, as expanding should here

Kiwi Camara

So legal every we control from driven more business volatility And are conference the that the customers a have are emphasized technology they of quarterly demonstrate about often customer. platform. adopt, and what can usage of to kind revenue by want less volume the in as on our and quarter nature reminder, call, those our changes in driven quarter, by usage of outside changes particular by factors to that decisions in exogenous on

ruling, a or the investigation lawsuit of timing data or investigation, settlement. increase involved, the adjudication the lawsuit of of or or an Review a timing that and negotiated example, decrease new or For scope

think the volatility of forward, business. were there contributors we In to our volatility going two big of Review the terms

Review sizes for Ediscovery. materially can sizes larger that than be for ticket the is First the ticket

to life, any how being as those in me we life. Ediscovery project journey. it the coupled several spend through to do And particular growth Ediscovery Ediscovery Ediscovery a the At of that its the discovery had or more as $XXX I see Review a smaller have can Ediscovery percentage a million revenue scale, we a larger for with revenue of alone, product Xx their customers customers sizes spend But than having this we'll usage take saw product year, from more. business that the compared multiple when product rate XX% decline ticket products because revenue revenue total consequence, anticipate heard times in a of overall its the to scale, kind we more of now as We volatility, there's Xx revenue. larger reaches or Early matter with of mentioned represented the will materially seen we think base, in decreased similar exhibited You've the earlier adopting believe are volatility that business. volatility some earlier go similar scale, Review that wisdom revenue its business. of

Arvind Ramnani

That's very helpful. you Yes. much. Thank that really

Operator

next to We go you. Thill at now Brent Thank Jefferies.

Luv Sodha

on Hi. is Luv for Sodha Thill. Brent This

marketing of you So the my the just I us from what on sales you year? you. productivity in terms product? again, could And sell reps, apart wanted Could taking tracking side color or in are maybe give us margin plan there. thank you're the about for the question. Or you, additional maybe the for give of guidance to big, a some these Thank the the how headcount? investments investment, ask pretty

Kiwi Camara

for again, forward the revenue that is our guidance to to EBITDA doing quarter. the us And principally of QX, adhering and The a we're prudent then guidance. guidance our is guidance reflecting philosophy of function providing moderation

some go them about of of remarks variety talked in in of I a terms investments things. look And at to today. We our my market. In prepared

things who existing those customer for excited customer of the success a basis. for couple are the we're generates the in upsell have opportunities, a aggregate, unit on productivity, which person the sales of in and both teams Both team, of generate about our and records new new One in per set and quarters increases past on opportunities the our cross-sell basis base. productivity and development most from representatives in aggregate

relatively sellers One organization, right of them carrying our of so to a have increase to an year, of of a as disco, half of that continue in less many level relative than now, when been out the generation have opportunity our quota is short investment build more capacity. tenure, learnings lead sales the here we to there's go-to-market than

we so new and the addition marketing CMO. programs direction year accordingly, be increasing of also will our investment investment our half CSMs, of scaling the in with and the And back our in the of shifting SDRs out

Operator

Berg thank next to you. Scott We Needham. And at now go

Scott Berg

more or it's in with million not in customers, I a review standard few our that number it's not the one that the would deviation Thank a at that percentage that trying reduction. -- That's to I than gigabytes can if we're you. and XX.X% million. break be Kiwi necessarily, of I Kiwi, can of look what it's the midpoint guess just and how let $XX big usage, up Michael, big think roughly the question I be the this even taking of million revenues two in for how calls guess, question million, different a Hi, volatility asking the or product or to of big the is ask know be all today. to think, for new this kind swing like I big couple but the enough my data is $XX because guidance it's enough number a down big annualized thanks of, factor me it way one half couple plus that's a second understand we're magnitude area, in your what like? bucks minus, we this way. other model $XX this between outside quarters same sounds

Kiwi Camara

in a reviews are million and two or billing of the second or specifically, in what about we review large magnitude a the take today. a quarter home of from the we're small business, complete north shortage the of per dollars saw quarter. couple think The presence of I talking one, a one a absence the to three revenue run. size that's as is well volatility And great reviews the can good sizes as to quarter in six those review relatively of by that again, base ticket to review, created big

sought of to to calls our much forward prudent to terms that de-risk the where expect guidance as on guidance, we've earnings the have go as we prior adhere we possible, guidance and each of forward philosophy In our guidance. be our to articulated in

Now the more as that that some modest you've we result reported. seen have some and that just have quarter quarters outsized past, in beats, like in the quarters will beats,

Scott Berg

Thank you. Great.

Operator

to out Thank at you. We’ll go next Lane Stifel. Parker

Unidentified Analyst

I Hi. second for of XXXX. question. year? my of at continue? is know It's look But taking for expenses of -- Will that the kind going as going Parker. XXXX, to not for half be levels we we this just Max kind kind for that Can if spending into about of think trough those on Thanks you margins you're guiding

Kiwi Camara

announced up When we go-to-market plan went ramp the public, by capacity I about our to Xx. six-quarter

So through fully implied that's I the of quarters we're by And that we're now track four hiring as in six-quarter that my plan. prepared plan. discussed remarks, now on with

Our anticipation long-term profile. incremental this year, we the is leverage margin toward the move see you in should that after as business to begin

Unidentified Analyst

it. Got Thanks.

Operator

next Hynes Genuity. Canaccord go at We’ll you. to Thank David now

Luke Morison

on is taking for for thanks DJ, the question. this Luke Hey,

consistent Thanks. investment given thinking about and we're but the cumulative term revised burn forward? going timeline near So agenda curious, are cash how growth you outlook, to breakeven

Michael Lafair

now with beginning we've I get raise being will of the strength our additional return the gone the in of cash quarter to we for the to on of sheet. sheet. will increasing balance compare sheets, $XXX you start capital no to Sure, last our the need three in this is balance to organic historical cash market see said balance think you There profitability believe is I of to strength business, of current anticipate purposes. ended We leverage I that in we if the our expectation our burn north based capacity axing anticipation to go-to-market on the question, response through that this to And our year. to as XXXX, that able million

Operator

Instructions] next [Operator Capital. Schappel Mark you. We’ll go now Thank Loop to at

Tim Greaves

for the and to user Mark. to as is interface? Hi. Greaves user Disco's interface I so This to Tim match talk want CongruityXXX, RequestXXX the been HoldXXX with respect for on updated

Kiwi Camara

navigation suite and interface We broader we those like and in all work that that, interface of of updates, of acquisition XXXX. slide. of off on unfold products, user integrations think the kind a simpler sort important the capacity to anticipate always product, the And version build maintain the things product to course after things rest deeper like a we into our and the a handful integration do of product. So like over shortly is logo closed. products, of did it's the user when two that of course, We of Disco R&D including

feedback we're from making future but existing we're customers prospects of inspired continuous market. by our that the vision by for the the receiving the So improvements in and product, also both

Tim Greaves

Thank you. Okay.

Operator

to Thank Tyler you. Citi. We’ll next Radke at go

Tyler Radke

Hey, thanks for taking a follow-up.

that the you've are because maybe got guide understand, these anticipating So Kiwi out cases review pushed these that review Review could fall help cyclical? of cases you use you. help perspective? help happening? case how were understand the understand from these half why simply kind de-risk deals then it us to that maybe was in you of not just Thank more large much Disco us a a second Is just any more maybe aren't us for legal And

Kiwi Camara

Sure.

about ticket thereof the in somewhat rulings a is case. on So final or investigation the depends regulator It on of scope decision be dollars rulings When in again disposition due quarter. of when handful a the about a on big in motions of reviews tend incremental exogenous. initiated. small a is typically, that million timing the on a would more of It litigations we're of the you read the sort or Those initiated. talking of makers, litigation a such the to And again, the big paper. the negotiations about than It bill in by is in court timing the Discovery other lack and settlement depends progress on depends investigation. say, them

what's So the on dependent it's on lot legal process. specific a in going

sought In the of our of the what kinds guidance, to is of of terms these large have do derisk to guidance point reviews. from we view

Operator

for no this have over afternoon. like conference and comments. we And you. back the further it Mr. Camara. I’d appears Kiwi any to to Co-founder Camara, questions CEO closing Thank turn

Kiwi Camara

for you and everyday and our efficient. joining At we QX smarter thank for today. and of the Disco, you We interest lives more for Thank technology continue lawyers be us our make legal leader to earnings easier, XXXX march your joining disco, in the will call.

Operator

you us. today's And all conference joining We you and call. Good great again, for gentlemen, Wish this thank bye. a ladies evening. concludes

CS Disco (LAW) 12 Aug 222022 Q2 Earnings call transcript