Pivotal Announces KLDiscovery’s Third Quarter Results
(PVT)
Company Research
Source: Business Wire
Third quarter revenue of $78.2 million is up 6% over last yearNet Loss improves 35% year-over-year to $11.3 million Adjusted EBITDA of $16.8 million surges 28% vs. year agoKLD updates 2019 and 2020 forecast due to delayed merger closing with Pivotal NEW YORK & MCLEAN, Va.--(BUSINESS WIRE)--. I'Pivotal Acquisition Corp (NYSE:PVT) (“Pivotal”), a special purpose acquisition corporation, announced 2019 third quarter results of KLDiscovery (“KLD”), a leading global provider of electronic discovery, information governance and data recovery services.Highlights for the Third Quarter of 2019KLD achieved total quarterly revenue of $78.2 million for the quarter ended September 30, 2019, as revenue growth increased by 6% compared to the third quarter of 2018. Net loss for the quarter ended September 30, 2019 was $11.3 million, an improvement of 35% over the prior year period’s net loss of $17.4 million. Adjusted EBITDA was $16.8 million, a 28% increase over the prior year period’s adjusted EBI
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