LAW - Earnings call 3 2023

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the CS Disco's Third Quarter Fiscal Year 2023 Conference Call. All lines have been placed on me to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions]. I would now like to hand the call over to your first speaker today, Head of Investor Relations, Aleksey Lakchakov. sir. ahead, go Please

Aleksey Lakchakov

Scott thank regarding call Reform discuss our provisions market joining Disco's Act safe the With the Chief growth call outlook of and and expenditures, of Executive conference Lafair, include Michael third on forward-looking harbor call of XXXX. Disco's limited the the in to, Securities capital are not the today's on technology and opportunities to financial performance Officer. statements XXXX, of me Disco's position, future you industry. Litigation financial afternoon, Chief including, and and us Officer; future Today's for and but meaning Private Financial developments today's legal quarter product Hill, our strategy will Good results opportunity, within for market statements

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

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

call company's affect XXXX, the GAAP with June non-GAAP quarter Risk for prepared in represent to filed company's entitled turn and Form closest will included to that, equivalents and to of our ended on management's or Form we with August and earnings Factors and September could in as with the like results the measures XX, between quarter today's not section and performance only the These financial during XXXX, to call, And of time, non-GAAP measures ended X, available XXXX.In made. are the SEC with release. discussion report for to non-GAAP I'd the GAAP XX-Q company's substitute XX-Q XX, quarterly filings discuss addition Scott. SEC statements accordance in the over is the Information for Reconciliations financial financial from financial versus using on the superior measures GAAP. upcoming factors in limitations including that a assumptions its date a the in of measures their is on Forward-looking addition, of financial beliefs our the measures. non-GAAP time

Scott Hill

and Aleksey. us. for Good Thanks, afternoon, you joining everyone, thank

For Officer I not those about I the of you have met, yet Scott who ago. months Chief of I'm Executive X Hill. role assumed

the XXXX. we the Before dive I known CFO a introduce ICE would into called Exchange, as IPO asked basis shortly in technology of June conduct to an strong the company CEO. a ICE join Board legal for while generate we Board transform and just I company company I helped to and technology to CEO was its joined XXXX and myself. until at search like industry and XXXX from the of we from results, returns. on commodity public. role briefly strong More better Intercontinental I used returns. of growth generate investor saw met a use to growth after lead that the transform and innovative me after I and step recently, interim Disco long poised permanent markets not retired chance I to financial to fundamentally Disco's Directors went and ICE, into jumped before similarly a the the

Once done. and work CEO, make Disco's new enhancing to shareholders. to a company, Directors. every its businesses, cultural and There's foundation. finding maintaining strive its positive meaningful day we of are our a of demonstrated find I scaling look to Until to will employees, forward then, its Board on customers be contribution a the I experience and strong on and leading with We organizations high-functioning focused leader remaining a building, lot

technology legal I'm and decisions a steadfast couple business through and to vision gone forward. the difficult to propel obstacles company. to that bridge that I'm enable of focused making here months, but next remain have we chapter. excited on be the We by leading a strategic building removing Disco's

Although I'm Disco very I've the continues our that our speaking employees. into already diving only meeting our all and company. and permeate as considerable functions, the our to spent customers still The been to short with team of core CEO, while much to here I've unique time country operations, a across around our magic leadership listening makes

quarter, wanted the to I initial into some diving my share of Before observations.

we with Disco at impressed all talent very employees First, across functional I'm have areas. the and

to single ability challenges hard in numerous the the build company. to succeed best a is our dedication inspiring. Their and and of not continues upon incredibly regain a team work will focused what team is DNA success. on Our our collective person, and Disco's to And That is innovation footing commitment of face the company dependent the enable us service. but is future help that customer possible.

Second, extraordinary Disco has products.

and Q&A will and has brought eyes largest and firsthand anecdotes Our light users, our to see detail. future counsels demo, or and They Cecilia the eye-opening, I Having the love our the associates the general on solutions simplicity impact more customers Disco are their trips firm in from work. positively hearing been in of showcase most to see beauty several savings of of law them. legal upcoming heard it I've products our how I've when platform AI-focused we time visit up. and lot sophisticated legal Timelines, about our a gone and like operations. the And partners power Cecilia their

Third, map strategy. I'm confident and road product in our

world-class to the never And solutions carried we've quarter organization. best have go-to-market as of and better. transform industry. had quality the has company can and on We Fourth, that legal within that We our the and of made product our capabilities revenue innovative QX been pace and into product progress development side engineering that talent in October. the a momentum house build the

more there's done. to work However, be

elements enhance and enterprise clients, requires people. competitors great in top We Fifth, firms. asset, and our There to a enable engage time law our with customers to to and legacy improved, Building most my benefit important company potential committed focus a team full priorities. is embedded and legal takes of displacing are we at particular, invest takes supportive our are operating to that corporate we and in In a great are be and constructive and that Disco those and large environment to will approach promoting time, with providers execution. to need need both culture one to our and market are investing functions shareholders. we the their cultural software entrenched realize that our work of

into ended third the quarter. Revenues the that, our more quarter will during business, no steps QX have $X.X the quarter of second important We $XX.X customers, our Within details performance a the the XXXX cash, quarter. we a are and journey. with taking million to already shortly. dive X,XXX EBITDA first provide With a debt XX% Adjusted about sequential more for record $XXX core from We ago. of negative was improvement Michael year million, was this let's continued than eDiscovery progress. million. make

growth active is case usage months, We We have saw very in quarter-over-quarter early usage, both the into continued encouraging. which seen which a and reacceleration last several October. in assessment over

we gigabytes usage to expansion base. to hard segment, addition customer Although are to ECA attributed fastest-growing our platform our to the data work team active. This matters our in still sales the doing among attract is growth also and is existing in is seeing new

allow considerably and will features some This third capabilities customers. ingest engineering Slack, introduced Our far fastest-growing documents customers the eDiscovery our which for without during total important quarter. Disco data. reducing among product time released self-service support, capability new by Slack upload into teams new set the for needing We is eDiscovery data to

Our now members annotate team Disco more and flexible and specific team Customers comment creating the team. can legal richer annotation, allows which also intuitive workflow documents, eDiscovery alert released between eDiscovery. start threads collaboration team for a within much their

to module We rich been that can also added a Excel contextually now conducted performed product, central be task builder historically in has a a our interface. Word case witness and in efficiently management

additional Finally, being Cecilia to related enhancement most control document the capabilities within trials. of allows a continue upon customer Q&A how early such This scoping. faster work users find content was users specific answers product based the over This single with to our custodian. the Cecilia to reviewed, our documents to enhance Scoping specific addition match as we allows to requested customers our sets.

in In AI chatbot Disco sales well AI addition legal start to show has we fast busy Q&A, third integrated been road Timelines, as October, new delivering as upon generates which e-Discovery been from our preexisting customer introducing automatically and for quarter our a an We've a solid nationwide embarked our team a to documents. large-scale showcasing have platform, timelines customers Cecilia where Cecilia. Cecilia

map. skills Cecilia on also are We several our road previewing product other

tasks active critical of customer strategy XX events Q&A. timeline. support is Importantly, customers but depositions productions, facts to for using the technology weeks prepare such our of the running AI in in outcomes and We've Those Cecilia using billing building opposing to also my deliver I our efficiencies help minimize for to and talk tedious the can case beta of case appreciate this how understand I've from consuming of expensive rapidly Customers as heard about Cecilia power interrogation in perspective. are required opportunity over better gain a critical and have any first is roadshow customers insights join the into dozens had legal the in time clear. matters. also for few must clients their for questions. customers Cecilia Cecilia time help document

surfaced. with one like not high. had critical review augment with layer fact, is Cecilia, capabilities both to costs that believe using In and prior their some risks missed, the documents technology associated customer Cecilia highlighted but We

build this are important customer on We to continuing investment. returns generating focused in interest financial on

strategy long-term an continue to in also end-to-end invest provider. We become technology our to legal

we our around evidence leveraging U.S. rules.Integrating impressive too observation single We much have in have now AI that resources from us and data. QX access us give to deliver With way which customers allocated look ability with Fast announce optimal to strategy and primary lower profitability, and yesterday our additional operating legal by into may quarters. comprehensive clients in innovations the swung all have regard cases and is we intelligent laws, to forward we My regulations expenses made to far law too This path to leading the facts saw cost and sharing state year. their a for to platform focus a law primary have licensed core early of have workflow and growth-only progress professionals coming over enable of further we will fast than our You federal the our to cutting. last that though outcomes will and aspects solutions.

resource management, investments. balance sure more a cost approach our prudent the the and make months efficiency products and balanced with have relationships company. combines result profitable I between sales and in along we growing to a to in have that We sustainable, believe products strongly believe growth investments will expense profitability people, our we top customer the to a reenergize and and Two role, this into I line. people, have

fourth concrete our With over in I'll more on year full Michael. quarter guidance have earnings to will call it We XXXX hand February. that,

Michael Lafair

Scott. to are starting revenue you, pickup XXXX, revenue Thank $XX.X usage. only eDiscovery although was was year-over-year million, we in In see up a QX X%,

otherwise income of unless statement, EBITDA our non-GAAP financial expenses As measure. gross all discussing Scott platform. and on somewhat a it active non-GAAP the came seeing please million due a references specified, by where ended, loss that note our QX revenue ECA Within growth a data growth to are eDiscovery in business. the net is of that In are Adjusted basis. mentioned, to and operating also was our offset in we in remainder review on $X margin, below both review, the

gross XX%. Our in QX margin was

a over majority expense in or XX% compared decrease of adjusted $X.X our These net improvement an $X.X year. compared or were revenue $X.X loss QX and $X.X in prior personnel an was million The administrative represents negative profitability. negative million we decrease expenses. development margin to negative expense of and approximately million million primarily This a year-on-year. ingested of $X.X quarter decrease the of in prior QX a driven driven in prior primarily to based million representing EBITDA of million research expenses In XX% of of administrative Sales of compared closer $XX.X from for marketing or year. of total, of The XX% represents decrease example, was reduction loss margin XX% share $X.X was our managed our of an of negative a loss expense and types the costs. of $X.X year-on-year. period QX share an This development to to the of bringing approximate million, representing the customers' negative to compared year-on-year. was to of gross to per operating year. prior lower mentioned of reduction As amount the compared the the revenue year. XX% in prior revenue $X.X of revenue represented Adjusted negative in was was in negative of personnel XX% and a million the QX, $XX.X by of the for $X.XX QX XX% in million $X.X of in or Net prior compared General costs. year. in before, platform. Research of a year, margin our on loss driven margins us Net $XX.X the million from million XX% in results or million compared quarter costs. share XX% negative quarter period by sales of to representing last EBITDA prior the and adjusted was than to for and XX% Operating a per negative in fluctuate marketing and the was nature year. in personnel in adjusted was the revenue in per revenue XX% usage, QX of revenue of on negative QX QX of for approximately QX general of QX QX This year. QX operating over in decrease of in and EBITDA operating the QX $X.XX decrease This of reduction revenue by prior EBITDA year, QX XX% represents in XX% QX decrease QX QX data was

ended X period quarters balance million prior. million $XX.X and XXXX QX year equivalents flow flow cash negative and and in the We in negative million same statement. to the Turning of cash first sheet $XX.X compared the Operating cash debt. to cash the with $XXX.X no of in was

outlook. to Now the turning

XXXX, range negative the QX providing million guidance revenue For the we EBITDA of million $XX to are $X $XX in million. in $X of adjusted and range guidance million to negative

adjusted are we $XXX.X $XX.X to guidance in negative For the to the $XX.X of EBITDA range range million in guidance fiscal million. year negative million of XXXX, revenue providing $XXX.X million and

our As are current significantly and we XXXX Scott mentioned, call. next we will point, from provide increase our earnings this revenue planning to adjusted EBITDA not spending targets on At levels.

do expect up the and in company set XXXX make we some investments beyond. success to to additional However, for

up the open Now like would Operator? to operator turn the over to for line to call I the Q&A.

Operator

Thank you, sir. Instructions]. [Operator

Wood comes question from line from of Our TD Derrick first the Colin.

Unknown Analyst

on This Cole is for Derrick.

in picture been of quarter. rep trending initiatives. quarter, want you get the has called Just know to better a how I that last productivity enablement sales

an on us just could that... update guys give you If

Michael Lafair

Thanks for the question.

the quarter in of the a company. best in QX. It pleased So about history record quarter, we're was the really the performance

so to in remarks, pace with productivity, very, as respect on platform, pleased the of of is of the And our up October. we terms usage we're the the picked mentioned business. and pleased particular, into very the And eDiscovery going with how business direction has prepared we're the with in where in rep

going. are things how with pleased we're So

Unknown Analyst

just one then And Great. more.

and the existing was to On in couple the of number, them are that the customer seeing Or the on rep it's selling you quarters into new with customers shifted been that front? productivity, productivity net more? a more new past lower in on customer than focus has sales what of

Scott Hill

phrased both. it's I'll or on It's focus that's Amlaw. that the the that. corporate a It's to I and couple things of question. It's is. or take the sales months of interesting better the do from we focus on Scott, or a of in not And that not focus here it's way existing new, a job not a on all transactional. been I've It's need you this. Yes. one standpoint It's And think a corporate

XX% customer see think to a was It into. it's opportunity think as got count that to this And we've customer us. I the I that trended can great we've year. great again that's to that so do gives through a larger the moved existing customers up And it's year-over-year.Pleased see a us base case selling we pleased set of the up But also of job well. sell I as better into for

good clearly We do customer new grow. that that to really on I team And we think we be want on enable so Luke take that. the I'd We're continuing it to trend. saw see team do trend customers. a did sales able but we the in that count do growth in do existing to some move And as that pretty we forward growth like working a But to customers, -- and quarter, not both. job hard and both. either I'm in focus we We focused the saw that's to or again, to to and with to steps can of the

Operator

next comes Berg the line question Company. of Needham from Our Scott & from

Ron William

Ron Berg. on Scott for is This William

than implied this touch I revenue on a guess, last or signing quarter. what customers, Your is [indiscernible] Is a using XQ on difference less our guidance expected? existing the is customers new life based was usage guide previously less

Michael Lafair

Yes.

October provided guidance, of guidance we tax the So beginning particular, we but the the that on about in going like all on and QX. we on where as terms today, the what on we information we land the the -- about guidance, based on have number based today good number that into based beat of we have we're feel We and provided will feel land eDiscovery believe good the have we are to we the into in usage of the now. based we we that number Obviously, is number. would all to believe

Ron William

the law, of work do platform Disco? competitively? what does primary that then for And it. And the with Got the economics DISCO addition also how for do

Scott Hill

Yes.

it. aspects walk it facts platform that we've amazing and I'll the an let all today about Michael of start, financial the lawyers that I'll of understand their and But then case. is way through built helps So think would the the in think you evidence I I

facts Cecilia than the Cecilia it's whether so Case strategically the today Builder and of think been And come eDiscovery the an where lawyers workload of evidence. to can And place demoing step that makes with facts and come use and we've interrogating platform, goal is that's on and relevant in end-to-end do platform to It I in law using our all law our far How go or your their facts? path allow again, What a efficient understand basically facts your overall is been. and facts from or their it on clients. has with really more determine big information relevant intersect? understanding to facts work the a historically us is and what my forward forward all evidence the and to in laws law to those what primary what does best are be

XXX% witness the in your I also of so to XXX% Michael, documents for you want an and a relevant little Cecilia that's we create the expert powerful an for on the if a world bit a about where opportunity our so Imagine so have what's talk financial? great of that customers. investment, facts. think think How can that be to law. becomes incredibly knew And powerful small relatively the and I offering Imagine your opportunity.

Michael Lafair

law, well in that it's for spend the mean $XX that of went this, In of as regular we we that described access us million X gives release impact as all to the yesterday years updates I terms as of law. out investment financial primary of -- a

and since have a mentioned, I believe, we're X when from the joined. the powerful. we when that then So been when business I going -- as especially the Scott And And technology almost I evidence vision we at I have, product. from years review the very joined go back evidence. and It's the we help ago the into this very, business, the our also to from, of same inception the that that law build time to have concept has

an and to We to option have another have also options X renew then we for beyond additional years, that. renew

exciting spectrum and to our cash So perspective it's for our build from not investment the opportunity product the it a is a full piece really to customers large into really a what give the eDiscovery law. from

Ron William

I helpful. is guess investment it is X with Got $XX it. option, after that there Or years? million discrete... That's another

Michael Lafair

just what disclosed the haven't that. it's option is, We -- but price haven't we disclosed

Operator

next question Mark of from Our line Schappel from Capital comes the Lube Markets.

Mark Schappel

your wondering some was I activity provide details additional Michael, just your product. around on if could you

any the For down or on next to you additional of quarter platform instance, expecting are kind matters in legal X? the wind

Michael Lafair

of Yes. usage business, you business I or is mean, know, so of most usage-based based. all our is our as

up ends that matters or on end So system alternative, have bunch in customer will another one data to data the settles, case load a case the the of may when in when may make way if to case or or a remove the new from judge a whole decision could system. a cause settle or a actually the

the really on the of a eDiscovery in the large good significant provided in a QX of our on of October. amount ended and and we've million-plus review review last in the quarter And piece, QX That $X had color impact prior there it that eDiscovery provided about that's ended -- review. happened script, was guidance feel October, was it's a terms in numbers. kind an was months of usage and review we mentioned the on couple and we some into the we've over that and this -- So

Mark Schappel

with needing that. little make then, some around wondering I year. on next respect prepared additional more just elaborate bit to was your to And could a investments remarks Michael, Okay. you

Scott Hill

Yes.

So it's Scott.

that Let me one. take

strike sight again, in inside look an not sales important amazing role, of are being as from grow. customers. there ability of my think think I our company prudent a the balance and opportunity that to and dozen four that's standpoint, a important two to group of I get into at I and think set to sell customers. remarks, for So of spending three the people But the areas I an amazing losing probably great That's enhance couple not months said team that investment opinion. I between my And are products prepared are out with us, just to my products that meetings developed. for have me been and the we developed those really or it's of our

function. investment our be in I us necessary customers. customer As are have operations sales said of all places are couple back those earlier, be team a a disinvested of largely our our amount for sales the we to significantly the And to of growing in number successful growing where, gives function. of We example, customers dialed -- support success there opportunity really with in

And investments so make to we're areas to some going improve and those areas. those enhance

sales is sell. focus which do what our can they team best, on So

this in regards has job with field company of really sales. now. us the a right think little left year the good think I it field capacity thing performance under focusing done to the other The I on a management But

investments And the field. so right sure capacity got we're to going to make in make some the we've

prudent go of move growth enabling the ultimately, the sustainable that sales a on way there. team win get towards path us I the the investments the has because to is profitability, combination and about investment the top as the to line a and along those only opportunity is to are supplementing path consistently really So field sales give about further we team out team think that

Operator

Canaccord. from comes question next Our line of DJ Hynes the from

David Hynes

the kind too Is a in maybe on EBITDA backing I could any away optimization. are QX that that hear hint guys way remarks comments the breakeven towards target? I Scott, the swung far cost has Fred. stay that, of prepared you that in bundle your 'XX from

Scott Hill

at occur. needs I'm down two nor XX,XXX areas of kind backing -- CEO I'll level, I think from is level the am job, ahead. move you another as Board leaping are seats there to I All I'm from example. some the give XX not away think that feet I I'm saying months rebalancing into I the Yes. at to anything

this Our up are ever that pace The better products. than that skills have mentioned products as we I kept team. we're team we're deliver convinced remarkable. the developing productivity for has been. move out of our hard is And the engineering worked that that on through I'm for incredibly with Cecilia the it's year rewards to the developing, team not the of

think so investment my most important remarks, in I we think people. people. the our I And in there's an it our is prepared have I said asset

And an be investment needs there. made to there's so I think that

and significant motivated suggesting way And So it is today believe no terms is more that I but of in in dollars, I'm a an terms will in. even it's investment what employee in a population help of back that and it significant result and we to that company. a as I were profitability I said, motivated more enable, move more even get the us forward as growth company enabled sales team. we And think that as help sustainable will

David Hynes

Michael, Yes. follow-up you. Understood. a for

you're you sequential of quarters you're So think seeing pretty QX? growth there for trend in row. trends that the now like today on you've seeing October. anything the business to lead that would that you're a sequentially X revenue increased doesn't It Is sounds in persist through into that, constructive

Michael Lafair

particular, Look, DJ, the into and trends it's respect platform a with months, the really October. good in last and the recent eDiscovery mean, I the to we data on business then additional in over good and about question. few feel

about we those trends. so good feel And all

We are usage-based.

will platform. and to back the get will so And cases end added cases

I'm trends optimistic terms months. of the in about pleased and few cautiously last they've business, where been in I'm So the really the going in

David Hynes

there Is believe you from for QX. heard client of revenue I into... clarification that, Okay. that review ended I in that One say no me. last was quick bleed correct? that large So

Michael Lafair

the I'm there QX, was, wasn't know QX. a tail, but it plus of little could but hand, I it a in sure of it don't been a tail $X have exactly million offhand little been all if bit bit into not if actually material. there may a was -- off and have

David Hynes

the appreciate color... I

Operator

[Operator Instructions].

Bank from of question comes Our Koji Securities. from America next the of Ikeda line

Koji Ikeda

wanted Scott question. expenses. a taking you and of some guiding circle back Micheal, operating comment just revenue remarks on XXXX, make for prepared Michael on realizing did into I the you're your but side, not thanks about to the

I that basis? on what right mean understand think flat that where Or next you're expenses expenses for to flat? you I year? run a heard exactly guidance hold rate you by you mean just trying trying said to like Does XQ holding operating

Michael Lafair

more I detail QX. are with now color what to no more increase from QX report said what to significant when back you we in and we're And where said. I going think, was is have we I come to

Koji Ikeda

Okay.

assume primary it to of land safe customers, growth future Okay. drivers here drive your about growth which given Scott's are this model And many customer at and of you you guys can, control be Got is levers to of job of to the usage-based customers safe what best the And growth I the from model, it. going looking It's and to you guess as business. comments to in potential can indication that we're function is trying just for to are. when you investing good is the growth a thinking here, revenue say its then that recognition on revenue as or doing trying the revenue, right? some growth that

Scott Hill

better that's have they're they to customers, Yes. to continue build I revenue don't earlier But the in new selling then think is I than it up but a Scott. of Michael right? be review I to think a customer, numbers that, be positive an coming the customers them, Review team. as Look, continue we can And to we drive do. said But clearly, them ability front standpoint. know grow But sell will to question, a it's net the from to to only to our also our to need on existing relationships continue with need more. fantastic. if them customers have If we eDiscovery I

is got the know -- planet basis have Cecilia team, witness foothold world we to skills our in Case flag an shown can Builder sure a team. occasion, existing the opportunity, that product. customers, couple existing Case you we having great on establish skills an our and our lived but us aware to of those on way And all Review we customers couple of do Again, have to Review to and ability to a them the years we Are corporate those We use an that hold develop notices We corporate that acquisition With they the in make the that of Timeline within years a showing I a GCs that ground made Case is outstanding in about of And of a grow. companies, of been offering? Builder. need where in have think, from have a eDiscovery and management. Builders, fantastic, last today a opportunity, hold for our which customers clients. the ago the subscription company

and sell the customers have that without it's sales of to mantra portfolio we eDiscovery but my it been them we Review? not should team certainly subscription? products so It the sell advantage that with And â€“ have of or X,XXX question, we -- or all. do has customers do And transaction use we -- we're more. It's that -- do new do not to attract take the should we developing should we we

in company, see look any more of I an opportunity. this way, at customers to existing don't, a customers. To issue us of I lack gain new As sell having into

field the I is open. think

are we the I there. think have products

terrific enable we and have we're think team, I to to going investments a them more. make sales

should we -- us our continue more. sell And talk should yes, about you existing move to doing expect so to we're to also customers what us but as it's both. It's to customers, you expect grow forward

Koji Ikeda

Really Got it. appreciate it.

Operator

line question comes the of Jefferies. final from Thill from Brent Our

Luv Sodha

Scott, Luv Sodha Thill. for you, for Michael, thank my taking is and questions. Thank you, on This Brent

your past those assume maybe usage few a terms comments you quarters, the that improving, some continued of in of optimization customers apply highlighted you've of they're well? renegotiating larger their in to fair to spent. as made Is does larger it Over that eDiscovery as some the customers

Scott Hill

call, the improvement across this seeing, is for of our my theme guess, I all customers. the we're Yes, again, is

seeing about I'm customers the we're existing some the more where go about you're we it's customers. to with can So negotiating, customers, existing that's eDiscovery. improvements talking we and And what are say, than hey, exact of where with talking the again, those opportunity

it's about quarter when the to fourth opportunity talk buy available Review in to Let -- to me buy Case Builder the you Cecilia. buy to to

go year. are in absolutely and had see related wave some But to customers, larger of the the seeing the breadth and growth I that definitely in that. to usage really the existing of so see that an opportunity company allow work cases breadth as the we the the us case in the our products sell And particularly through is the those customer we up earlier it of conversations of to off some come

Luv Sodha

quick But customers was dig absolute just say, around it has wanted versus, you basis, for thank let's X quarter it. million. ads commentary. Got a On new been the in, on XX I added average only And -- the an guess, net follow-up. $XX I to

guess, I is it a So, somewhat step down. of

can anything Or in color churn? there terms different add was additional of you there? any So

Scott Hill

of It's And a but step products you XX because, we want. that's quarters. count drive I in again, consider XX? not Would that improvement each step-up on liked apologize XX think been I'd I the in saying me, kind step can And right I'm been of that's numbers it's of buy X the say a but -- trend have front the smaller sequential to quarter have the to customer to I'm XX pretty last I don't a that it's Absolutely. we XX up, Are breadth it's Yes, I for down. up. in for a customers -- another customers? our as up focused confident the don't step to Sure. want offer. continuing But more more to don't have

Operator

I'll Hill, questions you. back no are time. There CEO. further over Scott turn this to call the at

Scott Hill

and want Thank help company. for reiterate continued more work. to our Disco. confidence solutions. has continuing I employees place And to importantly, innovative serve Thank for of interest with remarkable continuing business. thank commitment also make a by want joining to you challenging you I you, efficient and your Bhavesh. you a thank my to year a delivering all innovate I resilience customers. great our want to committed technology We're Disco be for today, This to us working our in been their maintaining you thank and to to and our to focus customers for on their for

Operator

today's call. concludes you you. you now Thank We and conference may for This participating, thank disconnect.

CS Disco (LAW) 9 Nov 232023 Q3 Earnings call transcript