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KLDiscovery Inc., a global provider of electronic discovery solutions, announced Q1 2024 results with revenue at $80.2 million, a decrease from $90.7 million in Q1 2023. The net loss was $(16.9) million compared to $(4.5) million in Q1 2023. EBITDA was $7.4 million, down from $18.2 million in Q1 2023. Adjusted EBITDA was $10.6 million, down from $20.9 million in Q1 2023. The company reached an agreement to reduce long-term debt, enhancing financial stability. Nebula revenue surged by 82% year-over-year, reflecting growth in the segment.
KLDiscovery Inc. (KLD), a global provider of electronic discovery and data recovery solutions, will release their first quarter 2024 financial results on May 8, 2024. A conference call to discuss the results will be held on May 9, 2024, at 8:30 AM ET. Participants can register via a provided link and access the call through the company's website. An audio recording will be available for replay for two weeks post-call.
KLDiscovery Inc. announced an agreement to reduce long-term debt with debenture holders and term loan lender, allowing for a stronger financial position. This step will support the company's growth model and investment in client solutions. The transaction involves converting outstanding convertible notes into common equity and extending the term loan maturity to August 2027. KLDiscovery's recent strong financial performance in 2023 sets a positive momentum for the company's expansion and technology investments.
