Cs Disco Inc Stock Price, News & Analysis

DISCO (NYSE:LAW) has officially opened its new office in New York City, located at 335 Madison Avenue, to support its aggressive global expansion. This strategic move aims to strengthen proximity to major law firms and corporations, enhancing customer engagement and access to top legal talent. CEO Kiwi Camara emphasized the importance of being present in key markets to meet growing demand. Future expansions are also planned for Canada and Europe.

CS Disco, Inc. (NYSE: LAW) reported first-quarter 2022 total revenue of $34.5 million, a 63% year-over-year increase. However, the company experienced a GAAP net loss of $11.8 million, worsening from $2.9 million in Q1 2021. Adjusted EBITDA was (\$7.8 million), compared to (\$1.9 million) in the prior year. The company announced its first acquisition of legal hold workflow technologies to enhance its cloud-based offerings. For Q2 2022, DISCO projects revenue between $32.0 - $34.0 million and an adjusted EBITDA loss between (\$17.0) - (\$15.0 million).

Backflip, a fintech startup, has announced an $8 million equity seed round co-led by Vertical Venture Partners and LiveOak Venture Partners. The capital will enhance product development and support its 2022 launch in Texas and Colorado. Additionally, Backflip secured $27 million in dedicated debt funding. The company aims to address America's housing shortage by empowering local entrepreneurs with technology and capital solutions for real estate investments. Since its beta launch in 2021, $2 billion of property investments have been analyzed.

DISCO (NYSE:LAW) has appointed Jignasha Amin Grooms as executive vice president and chief human resources officer to oversee its HR functions, focusing on recruitment, diversity, and corporate responsibility as the company expands globally. Grooms, a seasoned HR leader recognized as the 2021 Gold GLOBEE Human Resources Executive of the Year, brings over 20 years of IT experience, having worked with major companies like Dell and Cisco. CEO Kiwi Camara emphasized the importance of investing in talent to support DISCO's growth and mission-driven culture.

CS Disco, Inc. (NYSE: LAW) is set to announce its first quarter financial results for the period ending March 31, 2022, on May 12, 2022, following market close. A conference call will take place at 5:00 p.m. ET to discuss these results. DISCO is known for its cloud-native, AI-powered legal solutions that assist enterprises and law firms with ediscovery and case management. For more information, the call can be accessed via telephone or through a live webcast on DISCO’s investor relations website.

DISCO (NYSE: LAW) has acquired Hold360 and Request360 from Congruity 360, enhancing its cloud-based ediscovery platform. The acquisition introduces advanced legal workflow capabilities, allowing for streamlined compliance with legal preservation obligations. These products enable legal teams to electronically hold data without involving IT departments, promoting efficiency and compliance with state and federal laws. DISCO aims to leverage these technologies to transform legal work and better serve its customers.

CS Disco, Inc. (LAW) reported a strong fourth quarter 2021, achieving total revenue of $33.8 million, a 76% increase year over year. However, the company recorded a GAAP net loss of $9.1 million, worsening from $3.0 million in Q4 2020. For fiscal 2021, total revenue reached $114.3 million, up 67%, but the net loss was $24.3 million. Looking ahead, DISCO anticipates Q1 2022 revenue between $30.0 million and $31.0 million, representing 42%-47% growth year over year, along with a fiscal 2022 revenue outlook of $146.8 million to $150.8 million.

Passage, a leader in passwordless identity solutions, has announced the launch of its public beta version, backed by $4 million in new funding from LiveOak Venture Partners and others. The company focuses on biometric authentication, enabling users to log in via Face ID and Touch ID, enhancing security and user experience. This funding will expand developer outreach and innovation in biometric solutions, eliminating reliance on passwords and improving conversion rates by reducing user friction during the login process.