What is CS Disco's operating income?

CS Disco's total operating income in 2025 was -$48.12 million, based on the following breakdown: Total Gross Profit: $117.42 million Total Operating Expenses: $165.55 million

CS Disco (LAW) Financials

$3.86 -0.02 (-0.39%)

Closing price 07/2/2026 03:59 PM Eastern

Extended Trading

$3.88 +0.02 (+0.52%)

As of 07/2/2026 04:17 PM Eastern

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Annual Income Statements for CS Disco

This table shows CS Disco's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-23	-24	-71	-42	-56	-44
Consolidated Net Income / (Loss)	-23	-24	-71	-42	-56	-44
Net Income / (Loss) Continuing Operations	-23	-24	-71	-42	-56	-44
Total Pre-Tax Income	-23	-24	-71	-42	-55	-44
Total Operating Income	-23	-24	-72	-50	-62	-48
Total Gross Profit	48	83	101	103	107	117
Total Revenue	68	114	135	138	145	157
Operating Revenue	68	114	135	138	145	157
Total Cost of Revenue	20	31	34	35	37	39
Operating Cost of Revenue	20	31	34	35	37	39
Total Operating Expenses	70	107	173	153	169	166
Selling, General & Admin Expense	14	26	41	33	41	49
Marketing Expense	31	47	73	68	61	60
Research & Development Expense	27	34	59	52	52	57
Impairment Charge	-	-	-	0.00	15	0.00
Total Other Income / (Expense), net	-0.30	-0.43	1.23	8.14	6.28	4.50
Other Income / (Expense), net	-0.30	-0.43	1.23	8.14	6.28	4.50
Income Tax Expense	0.07	0.08	0.19	0.44	0.33	0.74
Basic Earnings per Share	($1.74)	($0.73)	($1.20)	($0.70)	($0.93)	($0.72)
Weighted Average Basic Shares Outstanding	13.17M	33.21M	58.75M	60.14M	60.21M	61.72M
Diluted Earnings per Share	($1.74)	($0.73)	($1.20)	($0.70)	($0.93)	($0.72)
Weighted Average Diluted Shares Outstanding	13.17M	33.21M	58.75M	60.14M	60.21M	61.72M
Weighted Average Basic & Diluted Shares Outstanding	-	58.23M	59.45M	61.06M	60.38M	63.33M

This table shows CS Disco's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-1.03	-5.84	-11	-11	-9.16	-25	-11	-11	-14	-8.50	-9.62
Consolidated Net Income / (Loss)	-1.03	-5.84	-11	-11	-9.16	-25	-11	-11	-14	-8.50	-9.62
Net Income / (Loss) Continuing Operations	-1.03	-5.84	-11	-11	-9.16	-25	-11	-11	-14	-8.50	-9.62
Total Pre-Tax Income	-0.97	-5.56	-10	-11	-9.04	-25	-11	-11	-14	-8.25	-9.48
Total Operating Income	-2.90	-7.68	-12	-12	-11	-26	-13	-12	-14	-9.24	-10
Total Gross Profit	26	27	27	27	27	27	27	28	31	31	31
Total Revenue	35	36	36	36	36	37	37	38	41	41	42
Operating Revenue	35	36	36	36	36	37	37	38	41	41	42
Total Cost of Revenue	8.94	8.69	8.85	9.29	9.74	9.53	9.50	9.68	10	10	11
Operating Cost of Revenue	8.94	8.69	8.85	9.29	9.74	9.53	9.50	9.68	10	10	11
Total Operating Expenses	29	35	39	39	37	54	40	40	45	40	41
Selling, General & Admin Expense	0.13	9.89	11	11	9.66	9.51	11	11	17	9.99	10
Marketing Expense	17	14	16	15	15	15	15	15	15	15	16
Research & Development Expense	12	11	12	13	13	14	14	14	13	15	15
Total Other Income / (Expense), net	1.93	2.12	1.84	1.66	1.84	0.95	1.35	1.21	0.94	1.00	0.62
Other Income / (Expense), net	2.19	1.87	1.84	1.66	1.84	1.14	1.35	1.21	0.94	1.00	0.62
Income Tax Expense	0.06	0.28	0.09	0.11	0.12	0.02	0.14	0.21	0.14	0.26	0.14
Basic Earnings per Share	($0.02)	($0.09)	($0.17)	($0.18)	($0.15)	($0.43)	($0.19)	($0.18)	($0.22)	($0.13)	($0.15)
Weighted Average Basic Shares Outstanding	60.35M	60.14M	61.19M	59.82M	59.68M	60.21M	60.57M	61.25M	62.09M	61.72M	63.68M
Diluted Earnings per Share	($0.02)	($0.09)	($0.17)	($0.18)	($0.15)	($0.43)	($0.19)	($0.18)	($0.22)	($0.13)	($0.15)
Weighted Average Diluted Shares Outstanding	60.35M	60.14M	61.19M	59.82M	59.68M	60.21M	60.57M	61.25M	62.09M	61.72M	63.68M
Weighted Average Basic & Diluted Shares Outstanding	60.63M	61.06M	59.98M	59.48M	59.91M	60.38M	60.81M	61.74M	62.49M	63.33M	64.13M

This table details how cash moves in and out of CS Disco's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	35	197	-52	-44	-107	-33
Net Cash From Operating Activities	-23	-22	-46	-26	-8.75	-15
Net Cash From Continuing Operating Activities	-23	-22	-46	-26	-8.75	-15
Net Income / (Loss) Continuing Operations	-23	-24	-71	-42	-56	-44
Consolidated Net Income / (Loss)	-23	-24	-71	-42	-56	-44
Depreciation Expense	1.62	1.67	2.97	4.16	3.93	3.66
Amortization Expense	-	-	-	0.00	-1.06	-3.44
Non-Cash Adjustments To Reconcile Net Income	3.86	7.66	26	20	41	40
Changes in Operating Assets and Liabilities, net	-5.32	-6.63	-3.83	-7.85	2.75	-11
Net Cash From Investing Activities	-1.90	-3.11	-9.69	-20	-78	-18
Net Cash From Continuing Investing Activities	-1.90	-3.11	-9.69	-20	-78	-18
Purchase of Property, Plant & Equipment	-1.90	-3.11	-4.38	-4.86	-2.78	-3.05
Purchase of Investments	-	-	-	0.00	-88	-206
Sale of Property, Plant & Equipment	-	-	0.00	0.00	0.00	0.01
Sale and/or Maturity of Investments	-	-	-	0.00	13	191
Net Cash From Financing Activities	60	222	3.47	1.87	-20	0.02
Net Cash From Continuing Financing Activities	60	222	3.47	1.87	-20	0.02
Repayment of Debt	-23	-0.11	-0.04	-0.04	-0.04	-0.04
Repurchase of Common Equity	-0.14	-0.48	-0.26	-0.09	-0.13	-0.11
Payment of Dividends	-	-	-	0.00	-0.46	-0.30
Issuance of Common Equity	0.00	220	-0.28	1.46	0.60	0.42
Other Financing Activities, net	0.34	2.43	4.06	0.54	0.08	0.04
Cash Income Taxes Paid	0.09	0.10	0.40	0.77	-	1.22

This table details how cash moves in and out of CS Disco's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-21	1.90	-11	-19	-53	-24	-18	-13	7.13	-9.15	-2.01
Net Cash From Operating Activities	-6.90	3.18	-7.33	-0.65	-2.86	2.09	-10	-4.22	-0.98	0.76	-12
Net Cash From Continuing Operating Activities	-6.90	3.18	-7.33	-0.65	-2.86	2.09	-10	-4.22	-0.98	0.76	-12
Net Income / (Loss) Continuing Operations	-1.03	-5.84	-11	-11	-9.16	-25	-11	-11	-14	-8.50	-9.62
Consolidated Net Income / (Loss)	-1.03	-5.84	-11	-11	-9.16	-25	-11	-11	-14	-8.50	-9.62
Depreciation Expense	1.05	1.15	1.08	1.03	0.99	0.83	0.93	0.90	0.90	0.93	0.98
Amortization Expense	-	-	0.00	-	-0.26	-0.80	-0.83	-0.88	-0.86	-0.88	-0.79
Non-Cash Adjustments To Reconcile Net Income	-1.95	6.11	6.50	7.12	6.59	21	6.97	7.60	23	2.81	6.46
Changes in Operating Assets and Liabilities, net	-4.98	1.76	-4.33	2.03	-1.02	6.07	-6.17	-1.04	-10	6.41	-8.72
Net Cash From Investing Activities	-15	-1.27	-0.69	-0.66	-51	-26	-7.66	-8.63	7.96	-9.87	9.59
Net Cash From Continuing Investing Activities	-15	-1.27	-0.69	-0.66	-51	-26	-7.66	-8.63	7.96	-9.87	9.59
Purchase of Property, Plant & Equipment	-1.09	-1.27	-0.69	-0.66	-0.88	-0.56	-0.53	-0.97	-1.06	-0.51	-0.70
Purchase of Investments	-	-	0.00	-	-50	-38	-45	-47	-63	-51	-34
Sale of Property, Plant & Equipment	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Sale and/or Maturity of Investments	-	-	0.00	-	-	-	38	39	73	41	44
Net Cash From Financing Activities	0.72	-0.01	-2.85	-17	0.21	0.01	-0.08	-0.01	0.15	-0.04	0.09
Net Cash From Continuing Financing Activities	0.72	-0.01	-2.85	-17	0.21	0.01	-0.08	-0.01	0.15	-0.04	0.09
Repayment of Debt	-0.01	-0.01	-0.01	-0.01	-0.01	-0.01	-0.01	-0.01	-0.01	-0.01	-0.01
Repurchase of Common Equity	-0.03	-0.03	-0.04	-0.03	-0.03	20	-0.02	-0.02	-0.03	-0.04	-0.13
Payment of Dividends	-	-	-0.46	-	-	0.00	-0.30	-	-	-	0.00
Issuance of Common Equity	0.53	-	0.36	-	0.24	-0.00	0.24	-	0.18	-	0.22
Other Financing Activities, net	0.23	0.03	0.01	0.01	0.01	0.05	0.01	0.02	0.01	0.00	0.01
Cash Income Taxes Paid	0.07	0.27	0.20	0.27	0.11	0.32	0.29	0.65	0.13	0.17	0.11

This table presents CS Disco's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	79	287	256	232	180	174
Total Current Assets	73	281	232	192	157	153
Cash & Equivalents	59	255	203	160	53	20
Short-Term Investments	-	-	-	0.00	76	95
Accounts Receivable	13	21	23	27	23	26
Prepaid Expenses	-	-	5.58	5.80	4.69	4.74
Other Current Assets	1.36	4.63	-	-	0.00	8.04
Plant, Property, & Equipment, net	0.00	5.34	7.51	9.66	7.88	7.58
Total Noncurrent Assets	6.26	1.22	17	30	16	13
Goodwill	-	0.00	5.90	5.90	5.90	5.90
Intangible Assets	-	0.00	0.96	15	0.40	0.21
Other Noncurrent Operating Assets	6.26	1.22	10	8.97	9.21	6.96
Total Liabilities & Shareholders' Equity	79	287	256	232	180	174
Total Liabilities	13	19	33	31	33	46
Total Current Liabilities	12	19	23	23	26	40
Accounts Payable	3.59	4.69	8.49	5.23	3.99	3.89
Accrued Expenses	0.64	2.84	4.71	5.50	5.95	18
Current Deferred Revenue	1.64	2.18	4.10	4.29	4.30	5.38
Current Employee Benefit Liabilities	5.24	7.96	3.54	6.23	9.13	10
Other Current Liabilities	1.13	0.99	1.94	1.87	2.33	2.67
Total Noncurrent Liabilities	0.99	0.08	9.92	8.09	7.11	5.10
Other Noncurrent Operating Liabilities	0.99	0.08	9.92	8.09	7.11	5.10
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-95	269	224	200	148	128
Total Preferred & Common Equity	-95	269	224	200	148	128
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-95	269	224	200	148	128
Common Stock	8.20	396	422	441	445	470
Retained Earnings	-103	-127	-198	-240	-297	-342
Accumulated Other Comprehensive Income / (Loss)	-	-	-	0.00	0.04	0.03

This table presents CS Disco's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	230	217	198	194	168	165	175	162
Total Current Assets	191	179	160	157	146	143	153	143
Cash & Equivalents	158	149	130	77	35	22	29	18
Short-Term Investments	-	-	-	50	84	93	85	85
Accounts Receivable	27	25	25	24	22	24	24	27
Prepaid Expenses	-	5.39	4.81	6.32	4.46	4.57	6.10	4.57
Other Current Assets	6.29	-	-	-	-	-	9.24	8.08
Plant, Property, & Equipment, net	0.00	9.52	9.23	9.24	7.54	7.67	0.00	7.39
Total Noncurrent Assets	39	29	29	28	15	14	22	12
Goodwill	5.90	5.90	5.90	5.90	5.90	5.90	5.90	5.90
Intangible Assets	15	15	15	14	0.34	0.30	0.25	0.16
Other Noncurrent Operating Assets	19	8.68	8.18	7.68	8.66	8.10	16	6.40
Total Liabilities & Shareholders' Equity	230	217	198	194	168	165	175	162
Total Liabilities	29	24	27	27	26	27	44	38
Total Current Liabilities	21	17	20	21	19	21	39	34
Accounts Payable	6.49	2.00	4.04	3.41	5.41	3.12	3.46	2.70
Accrued Expenses	4.16	6.34	5.46	5.85	3.90	6.19	21	19
Current Deferred Revenue	2.97	3.50	3.52	3.04	3.91	3.49	4.27	4.34
Current Employee Benefit Liabilities	5.53	3.13	5.51	6.82	3.69	5.81	7.96	4.94
Other Current Liabilities	1.95	2.02	1.95	1.87	2.50	2.56	2.61	2.73
Total Noncurrent Liabilities	8.12	7.13	6.64	6.14	6.45	5.81	5.14	4.43
Other Noncurrent Operating Liabilities	8.12	7.13	6.64	6.14	6.45	5.81	5.14	4.43
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	201	193	171	167	142	138	131	124
Total Preferred & Common Equity	201	193	171	167	142	138	131	124
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	201	193	171	167	142	138	131	124
Common Stock	436	444	434	439	451	458	464	475
Retained Earnings	-235	-251	-263	-272	-309	-320	-333	-351
Accumulated Other Comprehensive Income / (Loss)	-	-	-	0.06	0.00	-0.01	0.01	-0.02

This table displays calculated financial ratios and metrics derived from CS Disco's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	57,624,792.00	59,037,755.00	60,627,445.00	-	62,491,594.00
DEI Adjusted Shares Outstanding	0.00	57,624,792.00	59,037,755.00	60,627,445.00	-	62,491,594.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-0.42	-1.20	-0.70	-	-0.71
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	67.06%	18.23%	2.15%	4.89%	8.29%
EBITDA Growth	0.00%	-6.66%	-199.28%	44.46%	-40.02%	17.42%
EBIT Growth	0.00%	-6.41%	-190.89%	40.91%	-32.93%	21.31%
NOPAT Growth	0.00%	-5.90%	-201.35%	30.59%	-23.83%	22.03%
Net Income Growth	0.00%	-6.43%	-190.69%	40.44%	-32.32%	20.44%
EPS Growth	0.00%	58.05%	-64.38%	41.67%	-32.86%	22.58%
Operating Cash Flow Growth	0.00%	4.71%	-112.61%	44.51%	65.73%	-70.72%
Free Cash Flow Firm Growth	0.00%	0.00%	-154.55%	3.78%	62.36%	-38.45%
Invested Capital Growth	0.00%	80.62%	54.48%	100.00%	-54.92%	-26.52%
Revenue Q/Q Growth	0.00%	0.00%	-0.93%	2.38%	0.88%	2.73%
EBITDA Q/Q Growth	0.00%	0.00%	-16.10%	35.58%	-64.21%	28.08%
EBIT Q/Q Growth	0.00%	0.00%	-16.22%	32.94%	-52.92%	27.96%
NOPAT Q/Q Growth	0.00%	0.00%	-18.24%	19.85%	-42.65%	25.98%
Net Income Q/Q Growth	0.00%	0.00%	-15.66%	23.36%	-53.17%	27.34%
EPS Q/Q Growth	0.00%	0.00%	-22.45%	23.91%	-57.63%	29.41%
Operating Cash Flow Q/Q Growth	0.00%	9.09%	-16.49%	32.93%	-14.19%	-9.74%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	15.30%	23.95%	-29.85%
Invested Capital Q/Q Growth	0.00%	0.00%	-5.85%	-6.01%	-54.56%	-21.20%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	70.12%	72.80%	74.73%	74.69%	74.17%	74.86%
EBITDA Margin	-30.94%	-19.76%	-50.01%	-27.19%	-36.30%	-27.68%
Operating Margin	-32.88%	-20.84%	-53.12%	-36.10%	-42.61%	-30.68%
EBIT Margin	-33.31%	-21.22%	-52.21%	-30.20%	-38.28%	-27.82%
Profit (Net Income) Margin	-33.42%	-21.29%	-52.34%	-30.52%	-38.51%	-28.29%
Tax Burden Percent	100.31%	100.33%	100.26%	101.06%	100.60%	101.70%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-215.53%	-162.67%	-299.27%	-114.07%	-146.04%	-211.22%
ROIC Less NNEP Spread (ROIC-NNEP)	-203.37%	-157.79%	-290.33%	-110.07%	-137.33%	-202.45%
Return on Net Nonoperating Assets (RNNOA)	180.81%	148.12%	270.52%	94.19%	113.97%	179.02%
Return on Equity (ROE)	-34.72%	-14.55%	-28.75%	-19.88%	-32.07%	-32.20%
Cash Return on Invested Capital (CROIC)	0.00%	-220.13%	-342.09%	-180.74%	-70.34%	-180.64%
Operating Return on Assets (OROA)	-28.82%	-13.24%	-25.96%	-17.10%	-26.92%	-24.65%
Return on Assets (ROA)	-28.91%	-13.28%	-26.03%	-17.28%	-27.08%	-25.07%
Return on Common Equity (ROCE)	50.03%	-7.56%	-28.75%	-19.88%	-32.07%	-32.20%
Return on Equity Simple (ROE_SIMPLE)	24.10%	-9.06%	-31.64%	-21.04%	-37.81%	0.00%
Net Operating Profit after Tax (NOPAT)	-16	-17	-50	-35	-43	-34
NOPAT Margin	-23.01%	-14.59%	-37.18%	-25.27%	-29.83%	-21.48%
Net Nonoperating Expense Percent (NNEP)	-12.16%	-4.88%	-8.94%	-4.00%	-8.71%	-8.77%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-17.42%	-29.29%	-26.30%
Cost of Revenue to Revenue	29.88%	27.20%	25.27%	25.31%	25.83%	25.14%
SG&A Expenses to Revenue	20.30%	22.40%	30.13%	24.07%	28.34%	31.18%
R&D to Revenue	38.86%	30.10%	43.83%	37.38%	35.56%	36.08%
Operating Expenses to Revenue	103.00%	93.64%	127.85%	110.79%	116.78%	105.55%
Earnings before Interest and Taxes (EBIT)	-23	-24	-71	-42	-55	-44
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-21	-23	-68	-38	-53	-43
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	7.67	1.67	2.30	2.03	3.79
Price to Tangible Book Value (P/TBV)	0.00	7.67	1.72	2.56	2.12	3.97
Price to Revenue (P/Rev)	3.27	18.02	2.76	3.33	2.06	3.09
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	44.64	136.71	8.33	7.37	9.24	27.41
Enterprise Value to Revenue (EV/Rev)	4.77	15.78	1.26	2.18	1.17	2.36
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.89	-0.94	-0.93	-0.86	-0.83	-0.88
Leverage Ratio	1.20	1.10	1.10	1.15	1.18	1.28
Compound Leverage Factor	1.20	1.10	1.10	1.15	1.18	1.28
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	244.09%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-144.09%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	9.17	66.61	6.36	8.27	3.82	4.49
Noncontrolling Interest Sharing Ratio	244.09%	48.06%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	5.95	15.06	10.17	8.32	6.11	3.78
Quick Ratio	5.84	14.81	9.93	8.07	5.93	3.47
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-23	-57	-55	-21	-29
Operating Cash Flow to CapEx	-1,192.86%	-696.56%	-1,051.03%	-525.87%	-315.05%	-490.51%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.87	0.62	0.50	0.57	0.70	0.89
Accounts Receivable Turnover	5.30	6.80	6.22	5.56	5.78	6.44
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	21.05	16.09	16.51	20.29
Accounts Payable Turnover	5.70	7.52	5.19	5.09	8.11	10.00
Days Sales Outstanding (DSO)	68.86	53.71	58.67	65.70	63.14	56.71
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	64.04	48.56	70.36	71.64	45.01	36.49
Cash Conversion Cycle (CCC)	4.81	5.16	-11.69	-5.94	18.13	20.22
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	7.31	13	20	41	18	14
Invested Capital Turnover	9.37	11.15	8.05	4.51	4.90	9.83
Increase / (Decrease) in Invested Capital	0.00	5.89	7.19	20	-22	-4.88
Enterprise Value (EV)	326	1,805	170	301	170	370
Market Capitalization	224	2,060	373	460	299	485
Book Value per Share	($7.21)	$4.66	$3.79	$3.30	$2.46	$2.05
Tangible Book Value per Share	($7.21)	$4.66	$3.67	$2.96	$2.36	$1.95
Total Capital	66	269	224	200	148	128
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-59	-255	-203	-160	-129	-115
Capital Expenditures (CapEx)	1.90	3.11	4.38	4.86	2.78	3.05
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2.04	6.73	5.53	9.67	2.12	-2.03
Debt-free Net Working Capital (DFNWC)	61	262	209	169	131	113
Net Working Capital (NWC)	61	262	209	169	131	113
Net Nonoperating Expense (NNE)	7.12	7.66	20	7.26	13	11
Net Nonoperating Obligations (NNO)	-59	-255	-203	-160	-129	-115
Total Depreciation and Amortization (D&A)	1.62	1.67	2.97	4.16	2.87	0.21
Debt-free, Cash-free Net Working Capital to Revenue	2.97%	5.88%	4.09%	7.00%	1.46%	-1.29%
Debt-free Net Working Capital to Revenue	88.55%	229.31%	154.43%	122.54%	90.61%	71.77%
Net Working Capital to Revenue	88.55%	229.31%	154.43%	122.54%	90.61%	71.77%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.73)	($1.20)	($0.70)	($0.93)	($0.72)
Adjusted Weighted Average Basic Shares Outstanding	0.00	33.21M	58.75M	60.14M	60.21M	61.72M
Adjusted Diluted Earnings per Share	$0.00	($0.73)	($1.20)	($0.70)	($0.93)	($0.72)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	33.21M	58.75M	60.14M	60.21M	61.72M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	58.23M	59.45M	61.06M	60.38M	63.33M
Normalized Net Operating Profit after Tax (NOPAT)	-16	-17	-50	-35	-33	-34
Normalized NOPAT Margin	-23.01%	-14.59%	-37.18%	-25.27%	-22.48%	-21.48%
Pre Tax Income Margin	-33.31%	-21.22%	-52.21%	-30.20%	-38.28%	-27.82%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	-0.82%	-0.67%
Augmented Payout Ratio	-0.60%	-1.96%	-0.37%	-0.21%	-1.05%	-0.90%

This table displays calculated financial ratios and metrics derived from CS Disco's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	60,138,215.00	60,627,445.00	60,627,445.00	59,976,004.00	59,480,438.00	-	60,383,445.00	60,807,053.00	61,741,846.00	62,491,594.00	63,329,013.00
DEI Adjusted Shares Outstanding	60,138,215.00	60,627,445.00	60,627,445.00	59,976,004.00	59,480,438.00	-	60,383,445.00	60,807,053.00	61,741,846.00	62,491,594.00	63,329,013.00
DEI Earnings Per Adjusted Shares Outstanding	-0.02	-0.10	-0.17	-0.18	-0.15	-	-0.19	-0.18	-0.22	-0.14	-0.15
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.36%	9.85%	7.37%	5.04%	3.79%	3.52%	3.04%	5.84%	12.83%	11.28%	14.27%
EBITDA Growth	101.82%	75.65%	51.39%	29.99%	-2,487.07%	-435.83%	-18.43%	-9.05%	-62.32%	67.41%	16.74%
EBIT Growth	96.47%	71.01%	48.38%	27.81%	-1,180.45%	-330.45%	-7.24%	1.18%	-49.61%	67.25%	15.80%
NOPAT Growth	85.57%	61.66%	44.65%	27.11%	-275.46%	-240.37%	-2.25%	4.64%	-32.96%	64.63%	19.96%
Net Income Growth	94.86%	68.75%	48.04%	27.36%	-789.13%	-331.51%	-7.66%	0.20%	-49.21%	66.26%	15.58%
EPS Growth	94.12%	70.97%	50.00%	28.00%	-650.00%	-377.78%	-11.76%	0.00%	-46.67%	69.77%	21.05%
Operating Cash Flow Growth	52.33%	133.92%	50.31%	90.79%	58.59%	-34.24%	-43.22%	-549.38%	65.73%	-63.51%	-11.30%
Free Cash Flow Firm Growth	-17.63%	-21.48%	-65.35%	-42.96%	80.27%	115.94%	142.45%	137.46%	381.58%	-138.78%	-137.55%
Invested Capital Growth	100.33%	100.00%	84.06%	63.80%	-6.75%	-54.92%	-47.47%	-42.75%	-57.63%	-26.52%	-10.50%
Revenue Q/Q Growth	1.95%	2.29%	-0.48%	1.22%	0.72%	2.02%	-0.94%	3.96%	7.38%	0.62%	1.73%
EBITDA Q/Q Growth	102.51%	-1,438.51%	-102.25%	-2.97%	14.37%	-203.05%	55.63%	5.18%	-27.46%	39.22%	-13.35%
EBIT Q/Q Growth	95.25%	-722.38%	-80.78%	-2.22%	15.74%	-170.92%	55.29%	5.81%	-27.57%	39.03%	-14.93%
NOPAT Q/Q Growth	82.95%	-165.00%	-60.64%	-0.42%	12.17%	-140.23%	51.74%	6.34%	-22.46%	36.09%	-9.21%
Net Income Q/Q Growth	93.09%	-466.99%	-81.20%	-2.38%	15.47%	-175.17%	54.79%	5.10%	-26.39%	37.78%	-13.13%
EPS Q/Q Growth	92.00%	-350.00%	-88.89%	-5.88%	16.67%	-186.67%	55.81%	5.26%	-22.22%	40.91%	-15.38%
Operating Cash Flow Q/Q Growth	2.18%	146.01%	-330.87%	91.13%	-339.54%	173.08%	-602.78%	59.79%	76.81%	177.83%	-1,633.33%
Free Cash Flow Firm Q/Q Growth	-38.12%	-8.44%	-12.33%	15.03%	80.94%	187.61%	199.22%	-25.02%	43.27%	-112.07%	-189.69%
Invested Capital Q/Q Growth	73.85%	-6.01%	9.05%	-8.07%	-1.03%	-54.56%	27.05%	0.19%	-26.75%	-21.20%	54.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	74.42%	75.68%	75.11%	74.20%	73.14%	74.23%	74.07%	74.59%	75.54%	75.15%	74.22%
EBITDA Margin	1.00%	-13.03%	-26.49%	-26.94%	-22.91%	-67.46%	-30.44%	-27.76%	-32.95%	-19.90%	-22.18%
Operating Margin	-8.29%	-21.48%	-34.67%	-34.40%	-29.99%	-70.62%	-34.40%	-30.99%	-35.34%	-22.45%	-24.10%
EBIT Margin	-2.02%	-16.24%	-29.51%	-29.80%	-24.93%	-67.55%	-30.71%	-27.82%	-33.05%	-20.03%	-22.63%
Profit (Net Income) Margin	-2.95%	-16.34%	-29.75%	-30.09%	-25.25%	-68.11%	-31.08%	-28.37%	-33.40%	-20.65%	-22.96%
Tax Burden Percent	106.63%	105.07%	100.82%	100.98%	101.31%	100.09%	101.22%	101.98%	101.04%	103.10%	101.49%
Interest Burden Percent	136.83%	95.73%	100.00%	100.00%	100.00%	100.74%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-24.07%	-67.88%	-99.38%	-104.04%	-71.90%	-242.02%	-103.61%	-99.90%	-131.13%	-154.54%	-123.52%
ROIC Less NNEP Spread (ROIC-NNEP)	-24.61%	-67.62%	-98.22%	-102.64%	-70.81%	-237.24%	-101.69%	-97.82%	-128.19%	-152.87%	-121.22%
Return on Net Nonoperating Assets (RNNOA)	20.93%	57.86%	81.57%	84.60%	54.69%	196.88%	81.12%	77.45%	103.40%	135.18%	101.05%
Return on Equity (ROE)	-3.13%	-10.01%	-17.81%	-19.43%	-17.21%	-45.14%	-22.49%	-22.45%	-27.74%	-19.36%	-22.47%
Cash Return on Invested Capital (CROIC)	-200.66%	-180.74%	-140.56%	-123.41%	-65.26%	-70.34%	-65.71%	-79.39%	-77.03%	-180.64%	-133.15%
Operating Return on Assets (OROA)	-1.10%	-9.20%	-18.09%	-19.70%	-16.86%	-47.51%	-23.26%	-22.70%	-27.34%	-17.75%	-22.20%
Return on Assets (ROA)	-1.60%	-9.25%	-18.23%	-19.89%	-17.08%	-47.90%	-23.54%	-23.15%	-27.62%	-18.30%	-22.53%
Return on Common Equity (ROCE)	-3.13%	-10.01%	-17.81%	-19.43%	-17.21%	-45.14%	-22.49%	-22.45%	-27.74%	-19.36%	-22.47%
Return on Equity Simple (ROE_SIMPLE)	-27.36%	0.00%	-16.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-2.03	-5.37	-8.63	-8.67	-7.61	-18	-8.83	-8.27	-10	-6.47	-7.07
NOPAT Margin	-5.80%	-15.04%	-24.27%	-24.08%	-20.99%	-49.44%	-24.08%	-21.69%	-24.74%	-15.71%	-16.87%
Net Nonoperating Expense Percent (NNEP)	0.54%	-0.26%	-1.16%	-1.40%	-1.09%	-4.79%	-1.92%	-2.08%	-2.95%	-1.67%	-2.30%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.68%	-4.47%	-5.07%	-4.55%	-12.40%	-6.21%	-6.00%	-7.75%	-5.05%	-5.70%
Cost of Revenue to Revenue	25.58%	24.32%	24.89%	25.80%	26.86%	25.77%	25.93%	25.41%	24.46%	24.85%	25.78%
SG&A Expenses to Revenue	0.37%	27.66%	31.39%	29.76%	26.63%	25.71%	29.95%	28.93%	41.35%	24.26%	24.81%
R&D to Revenue	34.53%	29.46%	33.96%	35.80%	35.18%	37.26%	38.90%	36.66%	32.80%	36.31%	35.10%
Operating Expenses to Revenue	82.71%	97.16%	109.78%	108.60%	103.14%	144.86%	108.48%	105.58%	110.88%	97.60%	98.31%
Earnings before Interest and Taxes (EBIT)	-0.71	-5.81	-10	-11	-9.04	-25	-11	-11	-14	-8.25	-9.48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	0.35	-4.66	-9.42	-9.70	-8.31	-25	-11	-11	-13	-8.20	-9.29
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.99	2.30	2.55	2.09	2.09	2.03	1.74	1.93	3.05	3.79	1.95
Price to Tangible Book Value (P/TBV)	2.21	2.56	2.86	2.38	2.38	2.12	1.82	2.02	3.20	3.97	2.05
Price to Revenue (P/Rev)	2.96	3.33	3.51	2.51	2.44	2.06	1.69	1.80	2.61	3.09	1.49
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.57	7.37	7.74	5.56	5.51	9.24	5.49	6.46	16.65	27.41	6.64
Enterprise Value to Revenue (EV/Rev)	1.79	2.18	2.45	1.60	1.55	1.17	0.88	1.02	1.87	2.36	0.86
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.85	-0.86	-0.83	-0.82	-0.77	-0.83	-0.80	-0.79	-0.81	-0.88	-0.83
Leverage Ratio	1.14	1.15	1.13	1.15	1.15	1.18	1.15	1.18	1.24	1.28	1.24
Compound Leverage Factor	1.56	1.10	1.13	1.15	1.15	1.19	1.15	1.18	1.24	1.28	1.24
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	8.24	8.78	12.02	7.44	7.20	4.38	4.71	4.77	4.15	5.16	2.36
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	9.06	8.32	10.51	7.82	7.49	6.11	7.50	6.75	3.93	3.78	4.19
Quick Ratio	8.76	8.07	10.19	7.59	7.19	5.93	7.27	6.54	3.53	3.47	3.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-24	-26	-29	-25	-4.69	4.11	12	9.21	13	-1.59	-4.61
Operating Cash Flow to CapEx	-633.03%	250.20%	-1,065.41%	-99.09%	-326.14%	374.87%	-2,007.27%	-438.32%	-92.88%	150.89%	-1,678.74%
Free Cash Flow to Firm to Interest Expense	-91.38	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-26.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-30.73	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.57	0.61	0.66	0.68	0.70	0.76	0.82	0.83	0.89	0.98
Accounts Receivable Turnover	5.47	5.56	5.81	5.70	5.62	5.78	6.23	6.02	6.33	6.44	6.60
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	16.09	16.23	15.92	0.00	16.51	17.11	17.52	0.00	20.29	21.71
Accounts Payable Turnover	5.15	5.09	8.32	7.81	7.39	8.11	10.28	10.74	11.27	10.00	10.04
Days Sales Outstanding (DSO)	66.71	65.70	62.79	64.03	64.94	63.14	58.56	60.65	57.64	56.71	55.34
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	70.86	71.64	43.87	46.74	49.38	45.01	35.50	33.99	32.39	36.49	36.35
Cash Conversion Cycle (CCC)	-4.15	-5.94	18.92	17.29	15.56	18.13	23.07	26.67	25.25	20.22	18.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	43	41	44	41	40	18	23	23	17	14	21
Invested Capital Turnover	4.15	4.51	4.09	4.32	3.42	4.90	4.30	4.60	5.30	9.83	7.32
Increase / (Decrease) in Invested Capital	22	20	20	16	-2.93	-22	-21	-17	-23	-4.88	-2.45
Enterprise Value (EV)	242	301	344	227	223	170	128	151	285	370	139
Market Capitalization	399	460	493	357	350	299	247	266	399	485	242
Book Value per Share	$3.34	$3.30	$3.16	$2.85	$2.81	$2.46	$2.35	$2.27	$2.12	$2.05	$1.96
Tangible Book Value per Share	$3.00	$2.96	$2.82	$2.51	$2.47	$2.36	$2.25	$2.17	$2.02	$1.95	$1.86
Total Capital	201	200	193	171	167	148	142	138	131	128	124
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-158	-160	-149	-130	-127	-129	-119	-114	-113	-115	-103
Capital Expenditures (CapEx)	1.09	1.27	0.69	0.66	0.88	0.56	0.52	0.96	1.05	0.51	0.70
Debt-free, Cash-free Net Working Capital (DFCFNWC)	12	9.67	13	9.67	9.33	2.12	7.38	7.26	0.58	-2.03	5.49
Debt-free Net Working Capital (DFNWC)	170	169	162	140	136	131	126	122	114	113	109
Net Working Capital (NWC)	170	169	162	140	136	131	126	122	114	113	109
Net Nonoperating Expense (NNE)	-1.00	0.47	1.95	2.17	1.54	6.91	2.57	2.55	3.54	2.03	2.55
Net Nonoperating Obligations (NNO)	-158	-160	-149	-130	-127	-129	-119	-114	-113	-115	-103
Total Depreciation and Amortization (D&A)	1.05	1.15	1.08	1.03	0.73	0.03	0.10	0.02	0.04	0.05	0.19
Debt-free, Cash-free Net Working Capital to Revenue	9.13%	7.00%	9.18%	6.80%	6.50%	1.46%	5.05%	4.90%	0.38%	-1.29%	3.38%
Debt-free Net Working Capital to Revenue	126.01%	122.54%	114.97%	98.18%	94.80%	90.61%	86.47%	82.25%	74.71%	71.77%	66.96%
Net Working Capital to Revenue	126.01%	122.54%	114.97%	98.18%	94.80%	90.61%	86.47%	82.25%	74.71%	71.77%	66.96%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.02)	($0.09)	($0.17)	($0.18)	($0.15)	($0.43)	($0.19)	($0.18)	($0.22)	($0.13)	($0.15)
Adjusted Weighted Average Basic Shares Outstanding	60.35M	60.14M	61.19M	59.82M	59.68M	60.21M	60.57M	61.25M	62.09M	61.72M	63.68M
Adjusted Diluted Earnings per Share	($0.02)	($0.09)	($0.17)	($0.18)	($0.15)	($0.43)	($0.19)	($0.18)	($0.22)	($0.13)	($0.15)
Adjusted Weighted Average Diluted Shares Outstanding	60.35M	60.14M	61.19M	59.82M	59.68M	60.21M	60.57M	61.25M	62.09M	61.72M	63.68M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	60.63M	61.06M	59.98M	59.48M	59.91M	60.38M	60.81M	61.74M	62.49M	63.33M	64.13M
Normalized Net Operating Profit after Tax (NOPAT)	-2.03	-5.37	-8.63	-8.67	-7.61	-18	-8.83	-8.27	-10	-6.47	-7.07
Normalized NOPAT Margin	-5.80%	-15.04%	-24.27%	-24.08%	-20.99%	-49.44%	-24.08%	-21.69%	-24.74%	-15.71%	-16.87%
Pre Tax Income Margin	-2.76%	-15.55%	-29.51%	-29.80%	-24.93%	-68.05%	-30.71%	-27.82%	-33.05%	-20.03%	-22.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.72	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-7.80	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-6.91	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-11.99	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	-1.41%	-1.62%	-1.26%	-0.82%	-0.52%	-0.52%	-0.48%	-0.67%	0.00%
Augmented Payout Ratio	-0.12%	-0.21%	-1.76%	-2.05%	-1.60%	-1.05%	-0.72%	-0.70%	-0.64%	-0.90%	-0.50%

Financials Breakdown Chart

Key Financial Trends

CS Disco’s latest quarter shows a company that is still growing revenue modestly, but it remains deeply unprofitable and continues to burn cash in operations. The balance sheet is still supported by a large cash and investment position, though that cushion has been shrinking over the last year.

Revenue continued to grow year over year. Q1 2026 revenue rose to $41.9 million from $36.7 million in Q1 2025, showing the business is still expanding top-line sales.
Gross profit remained strong in absolute dollars. Q1 2026 gross profit was $31.1 million, implying the company still has a healthy gross margin profile before operating expenses.
The company still has a sizeable liquidity base. As of Q1 2026, CS Disco had $17.6 million in cash and $85.4 million in short-term investments, giving it meaningful near-term financial flexibility.
Other income helped offset operating losses. Q1 2026 included $616,000 of net other income, which helped reduce the pretax loss somewhat.
Shares outstanding have moved higher only gradually. Basic shares were 63.7 million in Q1 2026 versus 60.6 million in Q1 2024, suggesting dilution has not been extreme over this period.
Operating margin remains negative. In Q1 2026, operating loss was $10.1 million, so the company is still far from operating profitability.
Cash from investing activity was positive in Q1 2026. This was driven by sales and maturities of investments, not core business generation, so it is not a sign of underlying operational strength.
Balance sheet equity remains positive. Total equity was $123.9 million in Q1 2026, but it has declined from $193.2 million in Q1 2024 as losses accumulated.
Operating cash flow was negative again. Q1 2026 operating cash flow was -$11.7 million, compared with -$10.5 million in Q1 2025, indicating the business is still consuming cash.
Net income losses remain substantial. CS Disco posted a Q1 2026 net loss of $9.6 million, only slightly worse than the $8.5 million loss in Q4 2025 and similar to prior quarters.
Operating expenses are still too high relative to revenue. Q1 2026 operating expenses totaled $41.2 million versus $41.9 million in revenue, leaving little room for profit.
Cash and investments have trended down materially year over year. Cash and short-term investments totaled about $103.0 million in Q1 2026, down from roughly $123.1 million in Q1 2025 and $182.7 million in Q1 2024.
Net cash declined in the quarter. Cash and equivalents fell by $2.0 million in Q1 2026, reflecting continued pressure on the company’s liquidity profile.

Overall, CS Disco looks like a company with some revenue momentum and a still-solid balance sheet, but the bigger story is that profitability remains elusive. Investors will likely want to see operating expenses move lower relative to revenue, along with a clear path to positive operating cash flow, before the stock can be viewed as fundamentally improved.

07/04/26 06:11 PM ETAI Generated. May Contain Errors.

CS Disco Financials - Frequently Asked Questions

According to the most recent income statement we have on file, CS Disco's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

CS Disco's net income appears to be on an upward trend, with a most recent value of -$44.37 million in 2025, rising from -$22.87 million in 2020. The previous period was -$55.77 million in 2024. Find out what analysts predict for CS Disco in the coming months.

CS Disco's total operating income in 2025 was -$48.12 million, based on the following breakdown:

Total Gross Profit: $117.42 million
Total Operating Expenses: $165.55 million

Over the last 5 years, CS Disco's total revenue changed from $68.44 million in 2020 to $156.85 million in 2025, a change of 129.2%.

CS Disco's total liabilities were at $45.53 million at the end of 2025, a 38.8% increase from 2024, and a 244.2% increase since 2020.

In the past 5 years, CS Disco's cash and equivalents has ranged from $19.66 million in 2025 to $255.48 million in 2021, and is currently $19.66 million as of their latest financial filing in 2025.

Over the last 5 years, CS Disco's book value per share changed from -7.21 in 2020 to 2.05 in 2025, a change of -128.4%.

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Financial statements for NYSE:LAW last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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CS Disco (LAW) Financials

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CS Disco (LAW) Financials

Annual Income Statements for CS Disco

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Quarterly Cash Flow Statements for CS Disco

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Quarterly Metrics And Ratios for CS Disco

Financials Breakdown Chart

Key Financial Trends

CS Disco Financials - Frequently Asked Questions

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How has CS Disco's net income changed over the last 5 years?

What is CS Disco's operating income?

How has CS Disco's revenue changed over the last 5 years?

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How has CS Disco's book value per share changed over the last 5 years?

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