App Software - Truist Securities Digital Dossier: Legora

研报英文原文证据摘录

App Software - Truist Securities Digital Dossier: Legora

Truist Securities

rather than isolated tasks, enabling it to review entire transaction documents, conduct research, draft agreements, and coordinate multi-

step matters with minimal human intervention. Mr. Eckstein stated that there are already dozens of customers on the Agent Pro offering,

with seat deployment ranging from 30 up to thousands of seats, with some contracts being in the millions of dollars range. Mr. Eckstein

believes owning this workflow layer, and the context embedded within it, positions Legora to become the system where legal work is

performed as AI assumes an increasingly larger share of routine legal tasks.

Consumption-Based Pricing Model. Mr. Eckstein views the introduction of consumption-based pricing for Agent Pro as an important

evolution of Legora’s business model, as it aligns revenue more closely with the value customers realize from AI-driven workflows. Unlike

traditional seat-based pricing, where higher customer usage increases inference costs without a corresponding increase in revenue,

consumption pricing enables Legora to monetize increased platform utilization while maintaining predetermined gross margin targets. Mr.

Eckstein further noted that the company can effectively lock in gross margins from the outset of a customer relationship, as additional

AI usage generates incremental revenue at the same targeted margin profile. To reduce billing uncertainty, Legora provides customers

with detailed usage analytics, administrative controls, and token limits during the pilot process to establish predictable consumption levels

before deployment. The company has highlighted that early adoption has been encouraging, as Mr. Eckstein is expecting consumption