Content Assessment: KLDiscovery Announces Fourth Quarter 2021 Financial Results
Information - 92%
Insight - 94%
Relevance - 89%
Objectivity - 88%
Authority - 90%
A short percentage-based assessment of the qualitative benefit of the recent 4Q21 earnings report from global provider of electronic discovery, information governance and data recovery technology solutions, KLDiscovery.
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Press Announcement Extract (March 16, 2022)
KLDiscovery Inc. Announces Fourth Quarter 2021 Financial Results
- Double Digit Revenue Growth and Net Loss Improvement of 25% for the quarter
- Nebula Revenue Growth of 38% for the full year
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, 2021 was $82.3 million versus $74.6 million in the fourth quarter of 2020, a 10% increase year-over-year. Net loss for the fourth quarter of 2021 was $(7.3) million compared to $(9.8) million in the fourth quarter of 2020, an improvement of 25%.
EBITDA for the fourth quarter of 2021 was $13.8 million versus $14.3 million in the fourth quarter of 2020. Adjusted EBITDA (which excludes stock-based compensation, acquisition financing and transaction costs and other items as described below) for the fourth quarter of 2021 was $15.3 million compared to $19.4 million in the fourth quarter of 2020.
“2021 was an exceptional year for KLDiscovery as we continued to grow our business, manage expenses and deliver excellent growth in our innovative Nebula platform,” said Christopher Weiler, CEO of KLDiscovery Inc. “We delivered our best revenue quarter ever in the fourth quarter of 2021 with $82.3 million, a 10% increase year-over-year. Our net loss also improved by 25% year-over-year and has improved over 50% from the first quarter of 2021 even as we increased our investment in research and development. Our Nebula platform revenue grew 38% in 2021 compared to 2020 and we are expecting this strong growth to continue in 2022 and beyond.”
Mr. Weiler continued, “We solve complex legal, regulatory and data challenges for our clients around the world by leveraging our proprietary and innovative technology-based solutions. Our fully-integrated solution combines world-class customer service with our full-stack of AI and ML powered technology. We have had a long history of pioneering transformational shifts in legal technology and our Nebula platform delivers our proprietary, end-to-end solution with an enhanced user experience. We are excited about the prospects for our company in 2022.”
KLDiscovery provides technology solutions to help law firms, corporations, insurance companies and individuals solve complex data challenges. With 32 locations, 9 data centers and 17 data recovery labs across 19 countries, KLDiscovery 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 email@example.com or visit https://investors.kldiscovery.com.
Complete Announcement with Tables (PDF) – Mouseover to ScrollKLDiscovery Inc Announces Fourth Quarter 2021 Financial Results
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