Financial Thank Conference and and good XXXX all you joining Call. today Dawn, for First Quarter thank us KLDiscovery's you, for morning, Results
world-class is incredible and Weiler, service, name clients is in our heart unmatched CEO an delivering with This valued globe. to value KLD's begin of and coupled group Co-Founder results I our the all the am My creates success, innovative technology is industry-leading platform Chris of would call proposition. expressing customer I around KLD my whose and the instrumental unbeatable team the by KLDiscovery. today's to like gratitude to
of heels the off a record-breaking XXXX. Coming
revenue Recovery reported XXXX, of total Legal million of $X.X million. and revenue Data quarter million with $XX revenue first the of $XX.X of we For Technology
year. period expansive Legal X,XXX prior same X,XXX includes in matters March platform our the using and flagship matters, had which of XX, XXXX, in solutions, those technology up Nebula, we our Technology the eDiscovery As from
Technology net Legal improve. to our revenue Additionally, continues retention
For basis months March our ended year. period Legal up revenue XX, compared XXX Technology the points prior XX same net XX%, the the to retention was in
We revenue retention the the by a well promote our that as Nebula continue our solutions we number to continue basis improving subscription increasing strong on offerings scope product sell we broadening to -- net as plan rate of of to adoption.
and the platform The to to of experience. that eDiscovery our use continues customers, discovery create Nebula powerful to every is high-performance premier shine at EDRM full functionality is a brings combines process. coverage of solutions Nebula ease that phase transforming unmatched with an business. user platform demand
proven driver Nebula an be steady has to increasingly of revenue. our
for the fact, Overall, increase in the first of in compared year. period X% reported In of year-over-year. prior Nebula first XXXX, we XXXX XX% XX% a $XX.X our revenue total contributed quarter same to in million, the of up the healthy revenue Nebula quarter of
to continue and We clients. artificial client our for one-of-a-kind chain opportunities portal coupled KLD and new experience invest user creates value of heavily to in use strengthens with the Nebula, intelligence, complete our when for extensive the which
many of for existing to new Nebula As attract our customers. solution a and becoming is result, customers preferred the continues
way number the leverage grown of has this all Legal virtually At matters of fact, In in XX, Technology March utilizing to XXXX. X,XXX Nebula as point, one another. Nebula engagements or
its to year. Active responded clients up The are XX%, adoption expect well data our to impact and compared industry and we have line active up trajectory. XX% hosted the continue in users this, Nebula its year in last incredibly is over upward is Nebula bottom last to
that debenture are will term financial reinforce to with sheet We our foundation. last loan we balance principle week, that agreement our principal principal holders lender pleased entered strengthen share and also an in into and our
eDiscovery provider world. debt. of to our vision partners contemplates XX% be our the The best approximately in with the into equity meaningful KLDiscovery's pro aligned agreement continue outstanding convertible in will make Our in converted outstanding are and overall notes the strategy forma key KLD resulting capital reduction a principle to in
with maturity be principle extended implement in on we quickly remains and practical. transaction term principal agreement loan the closing, to XXXX. in lender, to will subject finalizing as term the legal, our our loan to agreement conditions The under satisfying definitive expect to documentation the Additionally, principle as August but
significant finalization reduction will costly record-breaking XXXX rate have you believe position an have we future this combine debt a financial and financial via sheet this balance transaction, bolstered expected deleveraged interest ahead payments. in with financial Following results, KLD When of and outstanding we our long-term solid us. foundation a of
with clients. our exceptionally continue have and pushing eDiscovery support profitability with KLD. providers they integrated remains technologies, gaining other our strengthened competitive and from world-class service offer fragmented clear forward. we service investment on our and come technology, are technical expect to in KLD share, to quality moving levels laser-focused remain position, innovation that and over with there large comprehensive global client forward world-class believe high market the advantages proprietary a see toward continued path and combined We opportunities XX/X, capital The a and distinct we of for XXX industry our
seeing we are responses KLD the am vision has our are future, clear we headed, a and positive energized for and from where clients. I by the
a in confident is and am team I and ever, more execute the and financial succeed. have to than vision place our with we reinforced on foundation, right experienced battle-tested, further Our motivated global strategy
over to CFO, now our the turn will I Dawn Wilson. call
