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KLDiscovery Inc. (KLDI) is a prominent global provider of technology-enabled services and software solutions that empower law firms, corporations, government agencies, and consumers to tackle complex data challenges. With a workforce of approximately 1,300 employees spread across 43 locations in 19 countries, KLDiscovery has established itself as a leader in eDiscovery, information governance, and data recovery solutions.
For over 30 years, KLDiscovery has been at the forefront of delivering comprehensive services that include data collection and forensic investigation, early case assessment, electronic discovery and data processing, application software, and data hosting for web-based document reviews. The company also offers managed document review services to streamline the litigation and investigative processes.
KLDiscovery's Ontrack division is renowned for its world-class data recovery services, which include email extraction and restoration, data destruction, and tape management. This extensive service portfolio ensures that clients' data is efficiently managed and safeguarded throughout its lifecycle.
The company's recent achievements include numerous successful data recovery operations and the expansion of its global footprint. KLDiscovery continues to invest in cutting-edge technology and innovative solutions to meet the evolving needs of its clients. Financially, the company is stable and consistently delivers value to its stakeholders through strategic partnerships and an unwavering commitment to excellence.
KLDiscovery Inc. (KLDI) will announce its first quarter 2023 financial results after the market closes on May 10, 2023. A conference call is set for 8:30 AM ET on May 11, 2023, to discuss these results. Interested participants can register for the call through a provided link, and an audio recording will be available shortly after the call's conclusion. KLDiscovery is recognized as a global leader in electronic discovery, information governance, and data recovery technology solutions.
With over 30 years of experience, KLDiscovery supports various sectors including law firms and government agencies, operating in 25 locations across 16 countries. The company has received accolades for its growth, being featured in both Inc. Magazine's Inc. 5000 and Deloitte's Technology Fast 500.
KLDiscovery Inc. reported its highest quarterly revenue of $85.8 million for Q4 2022, marking a growth from $82.3 million in Q4 2021. The net loss improved by 32% to $(5.0) million compared to $(7.3) million a year earlier. EBITDA reached $18.3 million, while adjusted EBITDA increased to $20.4 million, both representing a 33% year-over-year rise. Despite a slight annual revenue decline to $317.4 million from $320.5 million, the company emphasized successful strategic investments and operational efficiencies. The Nebula platform achieved a record revenue increase of 23% in Q4 2022, supported by a 33% rise in clients.
KLDiscovery has launched a significant software update for ReadySuite, enhancing its integration with the Nebula eDiscovery platform. This release focuses on improving efficiency for legal document production, providing features such as batch import of chat messages and enhanced data management capabilities.
ReadySuite is aimed at law firms and corporations, facilitating better management of eDiscovery workflows. The update includes:
- Integration with Nebula for seamless data review.
- Batch import functionality for Relativity Short Message Files.
- Improved Data Grid for enhanced user experience.
- Updated scripting engine with additional API properties.
KLDiscovery, a leader in legal technology, announced the promotion of five key executives to strengthen its leadership. Krystina Jones becomes Chief Revenue Officer, while Oscar Vega rises to Executive Vice President, Global Sales and Marketing. Anthony DeJohn is now Executive Vice President, Product, Design, and Data Science. Lindsey Hammond takes on the role of Senior Vice President, Global Talent, and Daniel Clarkin is now Senior Vice President, Global Managed Review Services. These promotions reflect the company’s commitment to innovation and excellence in delivering data management and eDiscovery solutions.
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