Fri. Jun 2nd, 2023

Content Assessment: Broken Records? KLDiscovery Inc. Announces First Quarter 2023 Financial Results

Information - 95%
Insight - 96%
Relevance - 94%
Objectivity - 91%
Authority - 93%



A short percentage-based assessment of the qualitative benefit of the recent 1Q23 earnings report from global provider of electronic discovery, information governance, and data recovery technology solutions, KLDiscovery.

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Background Note: KLDiscovery Inc., a leading provider of electronic discovery, information governance, and data recovery technology solutions, has reported its Q1 2023 financial results, marking the company’s strongest quarter in its history. The positive results are attributed to strategic planning, hard work, and the successful implementation of the Nebula technology platform, offering comprehensive case management and real-time business intelligence.

Press Announcement Extract* (May 10, 2023)

KLDiscovery Inc. Announces First Quarter 2023 Financial Results

Achieves Highest Quarterly Revenue, Lowest Net Loss and Highest Adjusted EBITDA in Company History

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 first quarter ended March 31, 2023 was $90.7 million versus $81.9 million in the first quarter of 2022. Net loss for the first quarter of 2023 was $(4.5) million compared to $(9.6) million in the first quarter of 2022.

EBITDAfor the first quarter of 2023 was $18.2 million compared to $11.3 million in the first quarter of 2022. Adjusted EBITDA1 (which excludes stock-based compensation, acquisition financing and transaction costs and other items as described below) for the first quarter of 2023 was $20.9 million compared to $14.1 million in the first quarter of 2022.

“In the first quarter of 2023, we delivered the best quarter of financial results in KLDiscovery’s history,” said Christopher Weiler, CEO of KLDiscovery Inc. “We achieved our highest revenue quarter ever with $90.7 million which is 11% higher than the first quarter of 2022. We had 34% growth in our Nebula revenue for the first quarter 2023 over the first quarter 2022. We also achieved our lowest quarter of net loss, which improved by 53% year-over-year, and our highest ever Adjusted EBITDA1, up 49% year-over-year to $20.9 million.”

Mr. Weiler continued, “Our strong results reflect years of planning, hard work, and execution. We have built Nebula, a comprehensive and fully integrated proprietary technology platform that spans across the entire EDRM lifecycle. Our Client Portal provides unparalleled case management and business intelligence in real-time. When combined with our world-class 24/7/365 customer service, we believe we have an unmatched competitive advantage, which our customers will continue to find value in.”

About KLDiscovery

KLDiscovery provides technology-enabled services and software to help law firms, corporations, government agencies and consumers solve complex data challenges. The company, with offices in 25 locations across 16 countries, is a global leader in delivering best-in-class eDiscovery, information governance and data recovery solutions to support the litigation, regulatory compliance, internal investigation and data recovery and management needs of our clients. Serving clients for over 30 years, KLDiscovery offers data collection and forensic investigation, early case assessment, electronic discovery and data processing, application software and data hosting for web-based document reviews, and managed document review services. In addition, through its global Ontrack Data Recovery business, KLDiscovery delivers world-class data recovery, email extraction and restoration, data destruction and tape management. KLDiscovery has been recognized as one of the fastest growing companies in North America by both Inc. Magazine (Inc. 5000) and Deloitte (Deloitte’s Technology Fast 500) and CEO Chris Weiler was recognized as a 2014 Ernst & Young Entrepreneur of the Year™. Additionally, KLDiscovery is a Relativity Certified Partner and maintains ISO/IEC 27001 Certified data centers around the world. For more information, please email or visit

1 Non-GAAP measure.

Read the original announcement.

Complete Announcement with Tables (PDF) – Mouseover to Scroll

KLDiscovery Inc Announces First Quarter 2023 Financial Results

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