KLDISCOVERY INC A - KLDI STOCK NEWS

KLDiscovery has launched new features in its Client Portal, enhancing transparency into project activities and financials. The updates include real-time budget performance tracking, allowing users to assess financial spending quickly. Customization options enable users to view aggregate invoicing and financial metrics by various entities, including law firms and clients. New graphs provide insights on hosted production image count, total hosted size, processed document count, and produced redacted document count. This improvement aims to meet the evolving needs of legal teams for greater visibility into matter-specific and aggregated data.

KLDiscovery has launched a new certification course titled ‘Review Manager’ at its Nebula Academy, aimed at legal professionals overseeing document review projects. The course enhances skills in managing complex review tasks, covering topics such as workflow setup, coding management, keyword reporting, and markup maintenance. With its rapid growth, Nebula Academy has significantly impacted the user community, providing thousands of certifications. Senior Vice President Anthony DeJohn emphasized that empowering users enhances productivity and operational efficiency.

KLDiscovery reported Q3 2022 revenue of $74.5 million, down from $81.1 million in Q3 2021, alongside a net loss of $(17.4) million, an improvement from $(29.5) million year-over-year. EBITDA for the quarter fell to $5.1 million from $14.7 million in Q3 2021, while Adjusted EBITDA decreased to $11.3 million. Despite macroeconomic challenges, the company continues to implement strategic initiatives and efficiencies, notably consolidating its office spaces. Future projections indicate a greater net loss for the year, but Adjusted EBITDA is expected to align with expectations.

KLDiscovery has enhanced its Client Portal to provide authorized users with on-demand access to critical financial data and metrics in real-time. The updated portal allows users to view invoicing totals, payment status, and budget consumption, among other metrics. With advanced customization options, users can visualize key business data according to service type and time period. The new features aim to empower clients in making informed decisions, marking a significant innovation in the eDiscovery industry. CEO Chris Weiler highlighted this enhancement as an industry first.

KLDiscovery Inc. (KLDI) will announce its third quarter 2022 financial results on November 9, 2022, after market close. A conference call to discuss these results is scheduled for 8:30 AM ET on November 10, 2022. Interested participants can register for the call via a provided link and access the audio webcast from KLD's website. The company specializes in electronic discovery, information governance, and data recovery solutions, with a presence in 25 locations across 16 countries.

KLDiscovery has launched the Nebula Innovation and Learning Academy, an online platform aimed at enhancing the proficiency of legal professionals in eDiscovery and information governance. The Academy offers a role-based curriculum with courses such as Nebula Reviewer Fundamentals and Advanced Reviewer, designed for quick completion. Currently, it hosts over 735 active students and has recorded 1,000+ course enrollments. The initiative aims to streamline training, improve productivity, and reduce costs for organizations utilizing the Nebula ecosystem.

KLDiscovery reported its Q2 2022 results, showing revenue of $75.2 million, a decline from $81.7 million in Q2 2021. The net loss increased to $(11.2) million compared to $(8.9) million the previous year. EBITDA was $9.7 million, down from $13.7 million, while adjusted EBITDA was $12.4 million, down from $17.7 million. Despite economic challenges, the company achieved its best Nebula revenue quarter, a 27% increase from Q1 2022, reflecting ongoing investments in R&D and sales. The Nebula client base grew by 8%. A conference call is scheduled for August 11, 2022, to discuss these results further.

KLDiscovery Inc. (KLDI) will announce its second quarter 2022 financial results on August 10, 2022, after market close. A conference call is scheduled for August 11, 2022, at 8:30 AM ET to discuss the results. Interested participants can register through a provided link for access to join the call and receive dial-in details. KLD provides electronic discovery, information governance, and data recovery solutions across its global network, recognized for its rapid growth and quality services in the industry.

KLDiscovery announced the launch of Nebula Intelligent Archive through a partnership with Shield, enhancing its capabilities in compliance and data management. This solution leverages AI, Machine Learning, and Natural Language Processing to improve surveillance and investigations, promoting efficiency and cost savings. The partnership aims to provide clients with comprehensive compliance solutions in response to increasing data complexities. This release marks an important step in KLDiscovery’s strategy to lead in information governance and regulatory compliance.