Pivotal Reports KLDiscovery’s First Quarter Results and Confirms 2019 Outlook
(PVT)
Company Research
Source: Business Wire
Revenue Increases 7% and Adjusted EBITDA Increases 22% Year-Over-Year MCLEAN, Va. & NEW YORK--(BUSINESS WIRE)--Pivotal Acquisition Corp. (NYSE: PVT) (“Pivotal”), a special purpose acquisition corporation, announced 2019 first quarter results of KLDiscovery (“KLD” or the “Company”), one of the leading electronic discovery (“eDiscovery”) and data recovery services providers. KLD achieved revenue for the quarter ended March 31, 2019 of $75.0 million, an increase of 7% over revenue of $70.2 million for the first quarter of 2018. Gross profit increased to $37.6 million, an increase of $7.7 million, or 26%, over gross profit of $29.9 million for the first quarter of 2018. Net loss for the first quarter of 2019 was $13.5 million, an improvement of 25% over the net loss of $18.0 million for the first quarter of 2018. Adjusted EBITDA (which excludes acquisition, financing and transaction costs, stock-based compensation and other items as described below) for the first quarter of 2019 was $1
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