Customer Count DeclineTotal customer count fell to 1,439, declining 1% year-over-year.
Execution RisksMaintaining price objective at a discount to small cap software peers, warranted for the softer 2024 outlook and execution risks.
Revenue Guidance ReductionDisco lowered its total and software revenue guidance for the year, which now implies growth in the range of 4-6% (down from 4-9%) and 6-7% (down from 7-10%), respectively.