KLDiscovery Inc. announces fourth quarter and full-year 2023 financial results with several year-over-year increases! Part of the press release is below, the full press release is here.

KLDiscovery Inc. Announces Fourth Quarter and Full-Year 2023 Financial Results

Annual Year-over-Year: Revenue Increases 9%, Net Loss Improves 19%, EBITDA Increases 41%, Adjusted EBITDA Increases 27% and Nebula Revenue Increases 62%

EDEN PRAIRIE, Minn.–(BUSINESS WIRE) – KLDiscovery Inc. (“KLDiscovery” or the “Company”), a leading global provider of electronic discovery, information governance and data recovery technology solutions, announced today that revenue for the fourth quarter ended December 31, 2023 was $85.8 million, on par with $85.8 million in the fourth quarter of 2022. Net loss for the fourth quarter of 2023 was $(14.3) million compared to $(5.0) million in the fourth quarter of 2022.

EBITDA for the fourth quarter of 2023 was $12.0 million compared to $18.3 million in the fourth quarter of 2022. Adjusted EBITDA (which excludes stock-based compensation, acquisition financing and transaction costs and other items as described below) for the fourth quarter of 2023 was $17.2 million compared to $20.4 million in the fourth quarter of 2022.

“2023 was our best year ever at KLD despite macroeconomic headwinds. We delivered outstanding financial results for the full year of 2023, setting all-time Company records with our highest revenue of $345.8 million, lowest net loss of $34.8 million, our highest EBITDA of $62.6 million and highest adjusted EBITDA of $74.0 million,” said Christopher Weiler, CEO of KLDiscovery Inc. “Q4 2023 was also strong with revenue of $85.8 million, which is an increase of 8% compared to the third quarter of 2023. As a result of our investment in technology, back-end infrastructure, and optimization of our operations, we have created a scalable infrastructure that in 2023 resulted in higher margins as revenue increased over 2022.

Mr. Weiler continued. “I am extremely pleased with the difference Nebula is making for our clients and to our financial results. Our clients are seeing the benefits this tool has on their eDiscovery workflows. Nebula represented 13% of our total revenue in 2023 and grew 62% compared to 2022. Nebula revenue includes $14.2 million for Nebula processing services within Nebula for non-Nebula hosted engagements. We continue to drive significant year-over-year growth in Nebula customers, matters, active data hosted, users, and repositories. Additionally, our Client Portal—a business intelligence platform providing instantaneous access to vital case information and metrics—continues to deliver exceptional user experiences. This combination of technology, people and processes around the world is driving our financial results and demonstrates our commitment to delivering exceptional service and innovation to our clients.”

The press release goes on to publish detailed 2022-2023 Quarterly Results (in millions) and other financial statements.

Congrats again to KLDiscovery for the report that KLDiscovery Inc. announces fourth quarter and full-year 2023 financial results with several year-over-year increases!

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