And Financial the you CEO Co-founder KLDiscovery's Results Thanks, and is joining Dawn. Weiler, XXXX thank I'm and very KLDiscovery. Conference Quarter name Third for much Chris Call. My of
data services provides software agencies law that is to technology-enabled consumers corporations, and and a challenges. leader global complex KLDiscovery government firms, solutions solve help
identify of but us year been has certainly challenges, opportunities KLD. also and to a has inside XXXX outside it of allowed full
opportunity call as on we our August, time used strengthen business. As I an our during have in the you financial this last results pandemic to told
report hard that has That competitively. to is quarter, off financially, am during I work operationally our paying the third pleased and and continued
on cost-cutting have we been focused delivering effective business, fully strategies. efficiencies operational our and XXXX, integrating In driving
successful. our have efforts believe We been
a are impact results. as positive We with been have progresses. on believe financial we financially stronger year getting rewarded We our the
XXXX, third as revenue, from cash the well adjusted of of the to quarter to XXXX, when EBITDA this shutdown, up XX.X% slowdowns In loss, of the lockdowns quarter year legal improved significantly at net quarter revenue operations. second and and EBITDA compared the of their In as million our the from flow $XX.X second quarter third in all XXXX services were steepest. was resulting
have gains are seen XXXX. began, since progressed. We of in momentum our additional revenue September pandemic revenue best poised fourth quarter the for the quarter third we believe we as month accelerating of the was and
Our sales activity in pipeline spite pandemic. are activity of the from the in strong in slowdown resulting
of believe side activity in continue result is other slow to our an the simply services this and for on We crisis. today litigation the future increase to will demand out in pushed that
rebounding revenue is It towards moving and levels our to see good quarterly revenue levels pre-OVID-XX.
increasing, by improved loss As XX% quarter-over-quarter. revenue is net
third operational quarter XX% higher strategy second on efficiencies. savings Our attributed improvements our These focus and cost year. primarily than are quarter this adjusted seeking to was EBITDA
over date, in cost To $XX resulted XXXX. for has million in this reductions
$XX future of believe in position reductions strong million, a performance. cost puts permanent identified for which also have We we KLD
These many savings in the from are business. coming places
by achieved permanent $X our have and savings example, we data of efficiencies business, For operating million. integrating approximately recovery
$X our real costs. our due of of also data in This estate million to We success the program. managed work-from-home have million closed several facilities save and review to $X recovery will
litigation decline XXXX, pandemic. due COVID-XX and despite of comparable have a periods the third other and As in margins in these began to maintained and a court result in QX our systems that from revenue EBITDA year-to-date resulting we quarter closed versus actions, slowed
with -- through margins par that the we XXXX, in of adjusted achieved first increase X% the are in XXXX. revenue, quarters on a Despite EBITDA decrease same X period
is million high $XX.X investing of XXXX EBITDA adjusted of development continue level XXXX place EBITDA we in than importance $XX.X XX% our technology. higher to Notably, adjusted and a million. quarter second quarter in of third Our
Nebula In in EDR to EBITDA. XXXX, of we vision order growing our secure have increased longer-term and of head platforms, our continued revenue the count and and development proprietary
grow Our Nebula gain platform market continues share. to and
As of November X, this now XXX XXXX, terabytes of on data we integrated host platform.
also with was operations. quarter third The and regard very generated cash to our flow from strong cash
cash third We finished million. the a $XX.X quarter with position of
credit have full our on available revolving We million our facility. for use also $XX
cash during am high very and flow third resulted tax, I cash strengthen increased which been reductions, of quarter cost payroll XXXX, $XX.X continued the deferrals this unprecedented we've In position to our million, from time. our from pleased credits. able receipts, cash we by operations and
the throughout the a clearly much off. as better past year X have efforts Operationally in months paid we have company. Our emerged
while We employees and the our which tech-enabled our important health culture culture great strengthen wellbeing for continue to forefront. the Great customer leads extremely provider. at our keeping is of to service service,
even high Our times. value place our clients XXX during service. XX/X significant Morale these remains on
from exceptional has and our working workforce global remotely. to home, of done job majority team Our continues an work the
regularly past All global and flexible daily X while reach employees continue out positivity feedback our been reached my have with I fireside team months, productivity. conduct to of extremely input. their informed have continue I of and to speaking for demonstrated to chats goal of an level over inspiring XX every to employees employees and keep I the our
has incredibly operating inspiring. else, KLD, an like been everyone economic enlightening Externally is It environment. incredibly and in poor
the Obviously, will numbers this be the are we beginning We second and result. a our yet increase begin quarter -- out around, United by mostly signs encouraged economy to by levels as record there States. has litigation been are may the the control, that turn GDP to in believe of third
when not we we from believe will economy The completely, expect we benefit is demand XXXX. increased back to it in return but
position government will taking mergers are demand for to put generally. in We better more acquisitions, defense meet and KLD steps growing joint and request cases an other matters from more now even reviews second and that
in increase in presence our to plan information future. the also governance We
bigger in demand increase an also is better than from for we economy. just More a importantly, believe the KLD much opportunity
We the been behind with formal more Kroll Ontrack believe global benefit of When of working would members I've for the integration management with a KLD expanded recently technology the version the solution. team, senior our integration create the to our vision long-term family Ontrack from key -- an industry complete other and Kroll us, company.
We out this we opportunity and our there have taken very for is the to I to an the year company, business industry our believe reimagine challenging approach enormous our taking. there service.
At KLDiscovery, seamlessly together. we develop platforms technology own develop to work our worked and always have that
our strides and We have invested in building technology, platforms, in Nebula. EDR systems, had made incredible namely strengthened our
in competitors have see to we third-party over our with terabytes a did the together We cloud. exciting our platform, set and We to well XXX continue and clientele. believe acceptance more It the while is now wholesale offer the together.
we off-the-shelf services the on-premises, offer of the best cobble on Nebula tools gaining technology in that software industry, work holistic not remote
During months, the we the Recently, opportunity recovery reimagined service data taken past we X our business. have our to evolve offers.
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Last over did combining recovery no fully our the and also not customers that longer By outside any higher provide. month, to signed XX% users It's human and make interaction. overall integrated
future retreat our larger service distant can't a stress service human offering will They It review fully direct the to more in us our limitless will our years we'll eDiscovery business.
In legal We working communication.
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at technology the in competition and to focused on competitive tends When look not I be landscape, industry our reactive the big picture. the is legal
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always service, XXX XX/X time day. provide any has technology KLD a We on white glove day, leader. of any customer given been
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a phrase we go Wayne not our heading, customers I a borrow have talk all gaining to to want it from insights. is and of to where today. on great, industry where is already valuable the Gretzky, embarked the am hockey mission I To
demonstrate that step industry discussions customers way longing a comes rather But happen forward the doesn't provider incremental on just in bigger breakthrough solution. are that advances, they right I comprehensive full to is take essential, the incremental several and XXXX. for we from well service making and an that approach technology. technology, not believe something and our with are a to baby with Innovation My thinking we're and better that small industry, for initial is
clear It That striving is best for. what are what that developed the we technology this opportunities. is defensible is is to create huge companies have --
another our the on working years. We been technology to have we that I'm level, take this report advancements to few to and want over happy past
the in technology break competition. extremely and I the We aggressive skill has industry. the technological from an developing to become even advanced the on that pedigree and have company believe focused we're more only away
take developing are technology a are to legal to X-year needs We that industry with strategic us technology the where go. solutions plan going
We're going excited very XXXX the running to the and hit beyond. in New our for prospects Year. ground I'm about
of deals We acquisitions, and a the breather well. as us mergers a strategy have taken served from result while roll-up COVID-XX,
smaller, qualitative to When deals we additive that to are we doing wanted on sure focus platform. were be our to
identify but small primary in explore the think driver I I driver at continue opportunities be be think will that -- a the themselves future, to of time. do growth will We our by this by deals but not primary company a that consider and growth themselves will do small deals to of
executing energy solutions. on develop we continue our on demand and to be technology will believe believe breakthrough XXXX focus I and the in should return that
am the proud during taken pandemic. have I we of COVID-XX team's commitment KLDiscovery's the to and of steps the proactively extremely excellence
solid and we delivered financial actions cash focusing flow able to greatly improve as integrating from liquidity in business, delivering These improve and effective strategies, resulted operations. on we our earnings operational significantly productivity efficiencies, our cost-cutting fully solid driving gains were and by
am into CFO, prospects about our finish excited and will beyond. turn our very I Dawn we XXXX call I over Wilson. now to head and as future XXXX the
