CORAL GABLES, Fla., May 21, 2025 (GLOBE NEWSWIRE) -- Assembly, a pioneer in AI-driven legal technology, unveiled a groundbreaking case study in partnership with Microsoft, showcasing the unparalleled efficiency and innovation delivered by its NeosAI platform, built on Microsoft Azure AI Foundry. The study highlights how law firms leveraging this advanced solution achieve unprecedented time savings, workflow automation, and enhanced security, all while adhering to the strictest compliance standards. The succ ...

Financial Data and Key Metrics Changes - In Q1 2025, total revenue was $36,700,000, up 3% year over year, while software revenue was $30,900,000, also up 3% year over year [22][25] - Adjusted EBITDA for Q1 was negative $5,100,000, representing an adjusted EBITDA margin of negative 14%, an improvement from negative 15% in Q1 of the prior year [25] - The company ended Q1 with $118,800,000 in cash and short-term investments and no debt [25] Business Line Data and Key Metrics Changes - Services revenue, which includes DISCO managed review and professional services, was $5,800,000, up 2% year over year [22] - The number of customers contributing more than $100,000 in total revenue over the last twelve months increased by 8% year over year, representing 76% of total revenue [7][22] Market Data and Key Metrics Changes - The company noted growth in revenue from large multi-terabyte matters, indicating a positive trend for future revenue [8][9] - The Cecilia Generative AI suite saw significant growth, with the number of Cecilia Q and A customers increasing five times from Q1 2024 [13][14] Company Strategy and Development Direction - The company launched a new customer value proposition, "With You In Every Case," aimed at enhancing customer engagement and showcasing the integration of software and services [10][11] - Strategic initiatives include enhancing talent, targeting accounts, and aligning incentives to drive revenue growth from larger customers and matters [13][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's ability to weather potential economic downturns, citing historical trends where litigation increases during such times [20][21] - The company is focused on executing its strategy and believes it is well-positioned for future growth, with an outlook for total revenue in FY 2025 to be between $146,000,000 and $158,000,000 [26][58] Other Important Information - The company reported a gross margin of 75% in Q1, with fluctuations based on customer usage [23] - Operating cash flow in Q1 was negative $10,500,000, compared to negative $7,300,000 in Q1 of the prior year [25] Q&A Session Summary Question: Plans for the next 12-18 months to drive faster growth - Management highlighted the focus on executing the strategy, enhancing operational effectiveness, and aligning resources to target high-value accounts [28][30] Question: Clarification on the new tagline "With You In Every Case" - The tagline emphasizes the integration of services and software, showcasing the company's ability to support customers in both self-service and complex matters [36][40] Question: Expense levers to reduce operating losses during an economic downturn - Management indicated that while there may be headwinds, historical trends suggest litigation could increase, providing opportunities for growth [46][47] Question: How new customers generally come to DISCO - New customer acquisition involves a mix of account-based marketing, events, and thought leadership, with a strong focus on expanding relationships with existing customers [50][53]

Financial Data and Key Metrics Changes - In Q1 FY2025, total revenue was $36.7 million, up 3% year-over-year, while software revenue was $30.9 million, also up 3% year-over-year [20][21] - Adjusted EBITDA for Q1 was negative $5.1 million, representing an adjusted EBITDA margin of negative 14%, an improvement from negative 15% in the prior year [23] - The company ended Q1 with $118.8 million in cash and short-term investments and no debt [6][23] Business Line Data and Key Metrics Changes - Services revenue, which includes DISCO managed review and professional services, was $5.8 million, up 2% year-over-year [20] - The number of customers contributing over $100,000 in total revenue over the last twelve months increased by 8% year-over-year, representing 76% of total revenue [7] Market Data and Key Metrics Changes - The company noted growth in revenue from large multi-terabyte matters, indicating a positive trend for future revenue [8] - The Cecilia Generative AI suite saw significant growth, with the number of Cecilia Q and A customers increasing fivefold from Q1 FY2024 [12] Company Strategy and Development Direction - The company launched a new customer value proposition, "With You In Every Case," aimed at enhancing customer engagement and showcasing the integration of software and services [9][10] - Strategic initiatives include enhancing talent, targeting accounts, and aligning incentives to drive revenue growth from larger customers and matters [12][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's ability to weather potential economic downturns, citing historical trends where litigation increases during such times [19][42] - The company is focused on executing its strategy and believes it is well-positioned for future growth, with a target of reaching adjusted EBITDA breakeven by Q4 FY2026 [43] Other Important Information - The company is committed to continuous innovation and has released several new capabilities to enhance customer experience and operational efficiency [16][17] - Management emphasized the importance of customer feedback in driving product development and innovation [17] Q&A Session Summary Question: Plans for the next 12-18 months to drive faster growth - Management highlighted the focus on executing the current strategy, enhancing operational effectiveness, and improving customer success teams to drive growth [26][30] Question: Clarification on the new tagline "With You In Every Case" - The tagline reflects the company's commitment to providing both self-service solutions and comprehensive support for larger matters, emphasizing the integration of services and products [33][37] Question: Expense levers to reduce operating losses during an economic downturn - Management indicated that while there are potential headwinds, the strategy focuses on working with clients on critical matters, which are less impacted by economic downturns [41][42] Question: How new customers generally come to DISCO - New customer acquisition involves a mix of account-based marketing, events, and thought leadership, with a strong emphasis on expanding relationships with existing customers [46][50]

Core Insights - Cimplifi has been awarded the Docusign Customer Delight Partner Award, recognizing its exceptional client outcomes and innovative solutions [1][2] - The partnership between Cimplifi and Docusign is highlighted as transformative, enhancing enterprise-grade agreement solutions for sophisticated organizations [2][3] Company Achievements - Cimplifi is recognized as a Docusign Platinum Partner, utilizing Docusign's Intelligent Agreement Management (IAM) platform to develop AI-driven contract lifecycle management and analytics solutions [3][4] - The award was presented during Docusign Momentum's Partner Day in New York, emphasizing the strong collaboration between the two companies [3] Strategic Partnership - The partnership is noted for its ability to combine automation, AI, and contract expertise, enabling clients to unlock enterprise value at scale [4] - Cimplifi aims to help clients reduce contract risk and costs while maximizing the potential of their agreement data [4] Industry Positioning - Cimplifi positions itself as a leading integrated legal services provider, focusing on simplifying eDiscovery and contract analytics for law firms and legal departments [5] - The company has over two decades of experience in delivering innovative solutions and managing risk for clients [5]

Core Insights - LexisNexis and OpenAI are collaborating to deploy legal-specific AI solutions, enhancing productivity and quality for legal and business professionals [1][2] - The partnership will leverage OpenAI's latest models and develop fine-tuned models for sophisticated legal workflows, focusing on generative AI technology [2][3] - LexisNexis aims to deliver high-quality, personalized AI innovations to accelerate outcomes for its customers [3][4] Company Overview - LexisNexis is a leading global provider of AI-powered analytics and decision tools, serving customers in over 150 countries with a workforce of 11,800 employees [8][9] - The company integrates various AI technologies, including extractive, generative, and agentic AI, within a scalable, multi-cloud infrastructure [5][7] - LexisNexis employs over 2,000 technologists and data scientists to develop and validate AI solutions, adhering to RELX Responsible AI Principles [7]