CS Disco, Inc. (LAW)
CS Disco, Inc. is a legal technology innovator that leverages cloud-native infrastructure and artificial intelligence to deliver advanced solutions. These solutions support electronic discovery, legal document analysis, and comprehensive case management for a broad client base, including corporations, law firms, legal service providers, and governmental entities. Among its key offerings is DISCO Ediscovery, which streamlines the entire e-discovery lifecycle. This platform significantly reduces the manual effort typically involved in gathering, processing, enhancing, searching, examining, interpreting, and presenting critical enterprise data relevant to legal proceedings. Additionally, DISCO Review employs artificial intelligence to consistently provide efficient and accurate document analysis. The suite further includes DISCO Case Builder, a collaborative tool that empowers legal professionals to construct robust cases by centralizing the search, organization, and review of witness depositions, evidence, and other pertinent legal information. These powerful tools find application across diverse legal contexts, such as litigation support, internal investigations, regulatory compliance, and due diligence efforts. Established in Austin, Texas, in 2012, CS Disco, Inc. maintains its headquarters there.
Sector: Services-Prepackaged Software
Industry: Software - Application
CS Disco, Inc.
NYSE:LAWTechnology · Software - Application
-1.38%$5.00
AH Close$5.00+0.00%vs close
AH Close$5.00+0.00%vs close
Mkt Cap$324.6M
Float27.18M
O/S64.92M
Inst Own54.5%
SI5.8%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$156.85M
Net Income-$44.37M
Total Assets$173.64M
Free Cash Flow-$17.99M
Debt & Equity
Debt 5%
Equity 95%
Total Debt$6.97M
Total Equity$128.11M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in LAW's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$173.64M
Liabilities$45.53M
Accounts Receivable$33.66M
Accounts Payable$3.89M
Inventory$0
PP&E (Net)$13.7M
Goodwill$5.9M
Intangible Assets$206K
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $156.85M | $144.84M | $138.09M | $135.19M | $114.34M | $68.44M | $48.56M |
| YoY Growth | 8.3% | 4.9% | 2.1% | 18.2% | 67.1% | 41.0% | - |
| Cost of Revenue | $39.42M | $37.41M | $34.95M | $34.16M | $31.1M | $20.45M | $14.46M |
| Gross Profit | $117.42M | $107.43M | $103.14M | $101.03M | $83.24M | $47.99M | $34.1M |
| Gross Margin | 74.9% | 74.2% | 74.7% | 74.7% | 72.8% | 70.1% | 70.2% |
| Research and Development | $56.6M | $51.51M | $51.62M | $59.26M | $34.41M | $26.6M | $25.35M |
| Selling, General, and Administrative | $108.95M | $102.43M | $101.36M | $113.58M | $72.66M | $44.95M | $39.1M |
| Other | $0 | $15.21M | $0 | $0 | $0 | -$1.06M | $0 |
| Total Operating Expenses | $165.55M | $169.15M | $152.99M | $172.84M | $107.07M | $70.5M | $64.45M |
| Operating Income (EBIT) | -$48.12M | -$61.72M | -$49.84M | -$71.81M | -$23.83M | -$22.5M | -$30.35M |
| Operating Margin | -30.7% | -42.6% | -36.1% | -53.1% | -20.8% | -32.9% | -62.5% |
| Interest Expense | $0 | $556K | $168K | $473K | $540K | $456K | $124K |
| Interest Income | $4.5M | $6.84M | $8.31M | $1.7M | $106K | $155K | $652K |
| Other Income (Expense) | $4.5M | $6.28M | $8.14M | $1.23M | -$434K | -$301K | $528K |
| Income Before Tax (EBT) | -$43.63M | -$55.44M | -$41.71M | -$70.58M | -$24.26M | -$22.8M | -$29.82M |
| Income Tax Expense | $743K | $332K | $443K | $186K | $81K | $71K | $10K |
| Net Income | -$44.37M | -$55.77M | -$42.15M | -$70.77M | -$24.34M | -$22.87M | -$29.83M |
| Net Income Margin | -28.3% | -38.5% | -30.5% | -52.3% | -21.3% | -33.4% | -61.4% |
| Supplementary Data | |||||||
| EPS | -0.72 | -0.93 | -0.70 | -1.20 | -0.42 | -0.40 | -0.52 |
| Diluted EPS | -0.72 | -0.93 | -0.70 | -1.20 | -0.42 | -0.40 | -0.52 |
| Weighted Average OS | 61.72M | 60.21M | 60.14M | 58.75M | 58.01M | 56.88M | 56.88M |
| EBITDA | -$43.41M | -$50.96M | -$37.55M | -$67.13M | -$22.05M | -$20.72M | -$28.89M |
| EBITDA Margin | -27.7% | -35.2% | -27.2% | -49.7% | -19.3% | -30.3% | -59.5% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $19.66M | $52.77M | $159.55M | $203.24M | $255.48M | $58.57M | $23.22M |
| Short-Term Investments | $94.94M | $76.36M | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $114.6M | $129.13M | $159.55M | $203.24M | $255.48M | $58.57M | $23.22M |
| Accounts Receivable | $33.66M | $23.12M | $26.99M | $22.72M | $20.74M | $12.91M | $7.36M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $4.74M | $4.69M | $5.79M | $5.58M | $4.63M | $1.36M | $1.34M |
| Total Current Assets | $152.99M | $156.94M | $192.34M | $231.54M | $280.85M | $72.84M | $31.93M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $13.7M | $16.27M | $17.81M | $17.33M | $6.2M | $5.72M | $3.59M |
| Goodwill | $5.9M | $5.9M | $5.9M | $5.9M | $0 | $0 | $0 |
| Intangible Assets | $206K | $400K | $14.68M | $962K | $4M | $3.26M | $1.89M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $837K | $820K | $823K | $591K | -$3.65M | -$2.72M | -$1.5M |
| Total Long-Term Assets | $20.64M | $23.38M | $39.21M | $24.78M | $6.55M | $6.26M | $3.97M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $173.64M | $180.32M | $231.55M | $256.32M | $287.4M | $79.11M | $35.9M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $3.89M | $3.99M | $5.23M | $8.48M | $4.69M | $3.59M | $3.99M |
| Short-Term Debt | $2.67M | $0 | $1.87M | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $5.38M | $4.3M | $4.29M | $4.1M | $2.17M | $1.64M | $1.42M |
| Other Current Liabilities | $18.03M | $0 | $5.5M | $4.71M | $2.84M | $0 | $0 |
| Total Current Liabilities | $40.43M | $25.69M | $23.12M | $22.77M | $18.65M | $12.24M | $9.21M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $801K | $141K | $800K | $950K | $75K | $160.8M | $101.04M |
| Total Long-Term Liabilities | $5.1M | $7.11M | $8.09M | $9.92M | $75K | $161.79M | $101.04M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $45.53M | $32.81M | $31.21M | $32.69M | $18.72M | $174.03M | $110.25M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $287.4M | $0 | $0 |
| Common Stock | $317K | $302K | $306K | $296K | $291K | $68K | $67K |
| Retained Earnings | -$341.8M | -$297.43M | -$240.38M | -$198.23M | -$127.46M | -$103.12M | -$80.25M |
| Comprehensive Income & Other | $32K | $41K | $0 | $0 | -$287.4M | $0 | $0 |
| Other Stockholders' Equity | $469.59M | $444.64M | $440.41M | $421.57M | $395.85M | $8.13M | $5.83M |
| Total Equity | $128.11M | $147.51M | $200.34M | $223.64M | $268.68M | -$94.92M | -$74.35M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $173.64M | $180.32M | $231.55M | $256.32M | $287.4M | $79.11M | $35.9M |
| Supplementary Data | |||||||
| Total Debt | $6.97M | $9.3M | $9.16M | $10.91M | $989K | $2.12M | $0 |
| Net Debt | -$12.68M | -$43.47M | -$150.39M | -$192.33M | -$254.49M | -$56.45M | -$23.22M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | |||||||
| Net Income | -$44.37M | -$55.77M | -$42.15M | -$70.77M | -$24.34M | -$22.87M | -$29.83M |
| Depreciation & Amortization | $214K | $3.93M | $4.16M | $2.97M | $1.67M | $1.62M | $803K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $832K | $0 | $0 |
| Stock-Based Compensation | $24.46M | $22.27M | $16.16M | $21.74M | $5.6M | $1.99M | $4.12M |
| Changes in Working Capital: | |||||||
| Accounts Receivable | -$12.43M | $1.76M | -$6.71M | -$3.27M | -$8.66M | -$6M | -$4.56M |
| Inventory | $0 | $0 | $2.26M | $0 | $405K | $0 | $0 |
| Accounts Payable | $137K | -$849K | -$4.09M | $3.19M | $1.09M | -$397K | $2.28M |
| Other Working Capital | $13.09M | $1.53M | $185K | -$4.28M | $533K | $1.08M | -$510K |
| Total Working Capital Change | $798K | $2.45M | -$8.35M | -$4.37M | -$6.63M | -$5.32M | -$2.8M |
| Other Non-Cash Items | $3.96M | $18.38M | $4.65M | $4.41M | $1.23M | $1.86M | $406K |
| Net Cash from Operating | -$14.94M | -$8.75M | -$25.53M | -$46.01M | -$21.64M | -$22.71M | -$27.3M |
| Investing Activities | |||||||
| Capital Expenditures | -$3.05M | -$2.78M | -$4.86M | -$4.38M | -$3.11M | -$1.9M | -$3.33M |
| Acquisitions | $8K | $4K | -$1.18M | -$5.31M | $0 | $0 | $0 |
| Purchases of Investments | -$206.09M | -$87.94M | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $190.94M | $12.68M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | -$14M | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$18.2M | -$78.03M | -$20.04M | -$9.69M | -$3.11M | -$1.9M | -$3.33M |
| Financing Activities | |||||||
| Debt Repaid | $42K | $41K | $40K | $42K | $112K | $106K | $5.78M |
| Common Stock Issuance | $459K | $0 | $0 | $0 | $219.81M | $0 | $0 |
| Common Stock Repurchases | -$105K | -$20.18M | -$89K | -$548K | -$476K | -$138K | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$296K | $224K | $2M | $4.06M | $2.43M | $271K | $123K |
| Net Cash from Financing | $16K | -$20M | $1.87M | $3.47M | $221.66M | $59.96M | $44.1M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$33.12M | -$106.78M | -$43.69M | -$52.23M | $196.91M | $35.34M | $13.48M |
| Supplementary Data | |||||||
| Operating Cash Flow | -$14.94M | -$8.75M | -$25.53M | -$46.01M | -$21.64M | -$22.71M | -$27.3M |
| Capital Expenditure | -$3.05M | -$2.78M | -$18.86M | -$4.38M | -$3.11M | -$1.9M | -$3.33M |
| Free Cash Flow | -$17.99M | -$11.53M | -$44.39M | -$50.39M | -$24.75M | -$24.62M | -$30.62M |
| Cash at Beginning | $52.77M | $159.55M | $203.24M | $255.48M | $58.57M | $23.22M | $9.74M |
| Cash at End | $19.66M | $52.77M | $159.55M | $203.24M | $255.48M | $58.57M | $23.22M |