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

$4.41 -0.05 (-1.12%)

Closing price 10/13/2026 03:59 PM Eastern

Extended Trading

$4.33 -0.08 (-1.81%)

As of 09:00 AM 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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-5.84	-11	-11	-9.16	-25	-11	-11	-14	-8.50	-9.62	-8.66
Consolidated Net Income / (Loss)	-5.84	-11	-11	-9.16	-25	-11	-11	-14	-8.50	-9.62	-8.66
Net Income / (Loss) Continuing Operations	-5.84	-11	-11	-9.16	-25	-11	-11	-14	-8.50	-9.62	-8.66
Total Pre-Tax Income	-5.56	-10	-11	-9.04	-25	-11	-11	-14	-8.25	-9.48	-8.52
Total Operating Income	-7.68	-12	-12	-11	-26	-13	-12	-14	-9.24	-10	-9.22
Total Gross Profit	27	27	27	27	27	27	28	31	31	31	32
Total Revenue	36	36	36	36	37	37	38	41	41	42	43
Operating Revenue	36	36	36	36	37	37	38	41	41	42	43
Total Cost of Revenue	8.69	8.85	9.29	9.74	9.53	9.50	9.68	10	10	11	11
Operating Cost of Revenue	8.69	8.85	9.29	9.74	9.53	9.50	9.68	10	10	11	11
Total Operating Expenses	35	39	39	37	54	40	40	45	40	41	41
Selling, General & Admin Expense	9.89	11	11	9.66	9.51	11	11	17	9.99	10	9.52
Marketing Expense	14	16	15	15	15	15	15	15	15	16	17
Research & Development Expense	11	12	13	13	14	14	14	13	15	15	15
Total Other Income / (Expense), net	2.12	1.84	1.66	1.84	0.95	1.35	1.21	0.94	1.00	0.62	0.69
Other Income / (Expense), net	1.87	1.84	1.66	1.84	1.14	1.35	1.21	0.94	1.00	0.62	0.69
Income Tax Expense	0.28	0.09	0.11	0.12	0.02	0.14	0.21	0.14	0.26	0.14	0.14
Basic Earnings per Share	($0.09)	($0.17)	($0.18)	($0.15)	($0.43)	($0.19)	($0.18)	($0.22)	($0.13)	($0.15)	($0.13)
Weighted Average Basic Shares Outstanding	60.14M	61.19M	59.82M	59.68M	60.21M	60.57M	61.25M	62.09M	61.72M	63.68M	64.49M
Diluted Earnings per Share	($0.09)	($0.17)	($0.18)	($0.15)	($0.43)	($0.19)	($0.18)	($0.22)	($0.13)	($0.15)	($0.13)
Weighted Average Diluted Shares Outstanding	60.14M	61.19M	59.82M	59.68M	60.21M	60.57M	61.25M	62.09M	61.72M	63.68M	64.49M
Weighted Average Basic & Diluted Shares Outstanding	61.06M	59.98M	59.48M	59.91M	60.38M	60.81M	61.74M	62.49M	63.33M	64.13M	64.92M

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Change in Cash & Equivalents	1.90	-11	-19	-53	-24	-18	-13	7.13	-9.15	-2.01	-6.76
Net Cash From Operating Activities	3.18	-7.33	-0.65	-2.86	2.09	-10	-4.22	-0.98	0.76	-12	-1.07
Net Cash From Continuing Operating Activities	3.18	-7.33	-0.65	-2.86	2.09	-10	-4.22	-0.98	0.76	-12	-1.07
Net Income / (Loss) Continuing Operations	-5.84	-11	-11	-9.16	-25	-11	-11	-14	-8.50	-9.62	-8.66
Consolidated Net Income / (Loss)	-5.84	-11	-11	-9.16	-25	-11	-11	-14	-8.50	-9.62	-8.66
Depreciation Expense	1.15	1.08	1.03	0.99	0.83	0.93	0.90	0.90	0.93	0.98	0.60
Amortization Expense	-	0.00	-	-0.26	-0.80	-0.83	-0.88	-0.86	-0.88	-0.79	-0.78
Non-Cash Adjustments To Reconcile Net Income	6.11	6.50	7.12	6.59	21	6.97	7.60	23	2.81	6.46	5.77
Changes in Operating Assets and Liabilities, net	1.76	-4.33	2.03	-1.02	6.07	-6.17	-1.04	-10	6.41	-8.72	2.00
Net Cash From Investing Activities	-1.27	-0.69	-0.66	-51	-26	-7.66	-8.63	7.96	-9.87	9.59	-5.51
Net Cash From Continuing Investing Activities	-1.27	-0.69	-0.66	-51	-26	-7.66	-8.63	7.96	-9.87	9.59	-5.51
Purchase of Property, Plant & Equipment	-1.27	-0.69	-0.66	-0.88	-0.56	-0.53	-0.97	-1.06	-0.51	-0.70	-1.15
Purchase of Investments	-	0.00	-	-50	-38	-45	-47	-63	-51	-34	-43
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	0.01
Sale and/or Maturity of Investments	-	0.00	-	-	-	38	39	73	41	44	39
Net Cash From Financing Activities	-0.01	-2.85	-17	0.21	0.01	-0.08	-0.01	0.15	-0.04	0.09	-0.18
Net Cash From Continuing Financing Activities	-0.01	-2.85	-17	0.21	0.01	-0.08	-0.01	0.15	-0.04	0.09	-0.18
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	-0.04	-0.03	-0.03	20	-0.02	-0.02	-0.03	-0.04	-0.13	-0.17
Cash Income Taxes Paid	0.27	0.20	0.27	0.11	0.32	0.29	0.65	0.13	0.17	0.11	0.39

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	Q2 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	6/30/2026
Total Assets	230	217	198	194	168	165	175	162	161
Total Current Assets	191	179	160	157	146	143	153	143	142
Cash & Equivalents	158	149	130	77	35	22	29	18	11
Short-Term Investments	-	-	-	50	84	93	85	85	91
Accounts Receivable	27	25	25	24	22	24	24	27	28
Prepaid Expenses	-	5.39	4.81	6.32	4.46	4.57	6.10	4.57	4.10
Other Current Assets	6.29	-	-	-	-	-	9.24	8.08	8.13
Plant, Property, & Equipment, net	0.00	9.52	9.23	9.24	7.54	7.67	0.00	7.39	7.71
Total Noncurrent Assets	39	29	29	28	15	14	22	12	12
Goodwill	5.90	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	0.12
Other Noncurrent Operating Assets	19	8.68	8.18	7.68	8.66	8.10	16	6.40	6.09
Total Liabilities & Shareholders' Equity	230	217	198	194	168	165	175	162	161
Total Liabilities	29	24	27	27	26	27	44	38	41
Total Current Liabilities	21	17	20	21	19	21	39	34	38
Accounts Payable	6.49	2.00	4.04	3.41	5.41	3.12	3.46	2.70	4.24
Accrued Expenses	4.16	6.34	5.46	5.85	3.90	6.19	21	19	18
Current Deferred Revenue	2.97	3.50	3.52	3.04	3.91	3.49	4.27	4.34	4.19
Current Employee Benefit Liabilities	5.53	3.13	5.51	6.82	3.69	5.81	7.96	4.94	8.56
Other Current Liabilities	1.95	2.02	1.95	1.87	2.50	2.56	2.61	2.73	2.78
Total Noncurrent Liabilities	8.12	7.13	6.64	6.14	6.45	5.81	5.14	4.43	3.72
Other Noncurrent Operating Liabilities	8.12	7.13	6.64	6.14	6.45	5.81	5.14	4.43	3.72
Commitments & Contingencies	0.00	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	120
Total Preferred & Common Equity	201	193	171	167	142	138	131	124	120
Preferred Stock	0.00	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	120
Common Stock	436	444	434	439	451	458	464	475	480
Retained Earnings	-235	-251	-263	-272	-309	-320	-333	-351	-360
Accumulated Other Comprehensive Income / (Loss)	-	-	-	0.06	0.00	-0.01	0.01	-0.02	-0.04

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
DEI Shares Outstanding	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	64,134,406.00
DEI Adjusted Shares Outstanding	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	64,134,406.00
DEI Earnings Per Adjusted Shares Outstanding	-0.10	-0.17	-0.18	-0.15	-	-0.19	-0.18	-0.22	-0.14	-0.15	-0.14
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.85%	7.37%	5.04%	3.79%	3.52%	3.04%	5.84%	12.83%	11.28%	14.27%	13.23%
EBITDA Growth	75.65%	51.39%	29.99%	-2,487.07%	-435.83%	-18.43%	-9.05%	-62.32%	67.41%	16.74%	17.72%
EBIT Growth	71.01%	48.38%	27.81%	-1,180.45%	-330.45%	-7.24%	1.18%	-49.61%	67.25%	15.80%	19.61%
NOPAT Growth	61.66%	44.65%	27.11%	-275.46%	-240.37%	-2.25%	4.64%	-32.96%	64.63%	19.96%	21.96%
Net Income Growth	68.75%	48.04%	27.36%	-789.13%	-331.51%	-7.66%	0.20%	-49.21%	66.26%	15.58%	19.92%
EPS Growth	70.97%	50.00%	28.00%	-650.00%	-377.78%	-11.76%	0.00%	-46.67%	69.77%	21.05%	27.78%
Operating Cash Flow Growth	133.92%	50.31%	90.79%	58.59%	-34.24%	-43.22%	-549.38%	65.73%	-63.51%	-11.30%	74.58%
Free Cash Flow Firm Growth	-21.48%	-65.35%	-42.96%	80.27%	115.94%	142.45%	137.46%	381.58%	-138.78%	-137.55%	-119.65%
Invested Capital Growth	100.00%	84.06%	63.80%	-6.75%	-54.92%	-47.47%	-42.75%	-57.63%	-26.52%	-10.50%	-19.83%
Revenue Q/Q Growth	2.29%	-0.48%	1.22%	0.72%	2.02%	-0.94%	3.96%	7.38%	0.62%	1.73%	3.02%
EBITDA Q/Q Growth	-1,438.51%	-102.25%	-2.97%	14.37%	-203.05%	55.63%	5.18%	-27.46%	39.22%	-13.35%	6.30%
EBIT Q/Q Growth	-722.38%	-80.78%	-2.22%	15.74%	-170.92%	55.29%	5.81%	-27.57%	39.03%	-14.93%	10.07%
NOPAT Q/Q Growth	-165.00%	-60.64%	-0.42%	12.17%	-140.23%	51.74%	6.34%	-22.46%	36.09%	-9.21%	8.69%
Net Income Q/Q Growth	-466.99%	-81.20%	-2.38%	15.47%	-175.17%	54.79%	5.10%	-26.39%	37.78%	-13.13%	9.98%
EPS Q/Q Growth	-350.00%	-88.89%	-5.88%	16.67%	-186.67%	55.81%	5.26%	-22.22%	40.91%	-15.38%	13.33%
Operating Cash Flow Q/Q Growth	146.01%	-330.87%	91.13%	-339.54%	173.08%	-602.78%	59.79%	76.81%	177.83%	-1,633.33%	90.82%
Free Cash Flow Firm Q/Q Growth	-8.44%	-12.33%	15.03%	80.94%	187.61%	199.22%	-25.02%	43.27%	-112.07%	-189.69%	60.76%
Invested Capital Q/Q Growth	-6.01%	9.05%	-8.07%	-1.03%	-54.56%	27.05%	0.19%	-26.75%	-21.20%	54.77%	-10.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.68%	75.11%	74.20%	73.14%	74.23%	74.07%	74.59%	75.54%	75.15%	74.22%	74.43%
EBITDA Margin	-13.03%	-26.49%	-26.94%	-22.91%	-67.46%	-30.44%	-27.76%	-32.95%	-19.90%	-22.18%	-20.17%
Operating Margin	-21.48%	-34.67%	-34.40%	-29.99%	-70.62%	-34.40%	-30.99%	-35.34%	-22.45%	-24.10%	-21.36%
EBIT Margin	-16.24%	-29.51%	-29.80%	-24.93%	-67.55%	-30.71%	-27.82%	-33.05%	-20.03%	-22.63%	-19.75%
Profit (Net Income) Margin	-16.34%	-29.75%	-30.09%	-25.25%	-68.11%	-31.08%	-28.37%	-33.40%	-20.65%	-22.96%	-20.07%
Tax Burden Percent	105.07%	100.82%	100.98%	101.31%	100.09%	101.22%	101.98%	101.04%	103.10%	101.49%	101.58%
Interest Burden Percent	95.73%	100.00%	100.00%	100.00%	100.74%	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%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-67.88%	-99.38%	-104.04%	-71.90%	-242.02%	-103.61%	-99.90%	-131.13%	-154.54%	-123.52%	-118.51%
ROIC Less NNEP Spread (ROIC-NNEP)	-67.62%	-98.22%	-102.64%	-70.81%	-237.24%	-101.69%	-97.82%	-128.19%	-152.87%	-121.22%	-116.46%
Return on Net Nonoperating Assets (RNNOA)	57.86%	81.57%	84.60%	54.69%	196.88%	81.12%	77.45%	103.40%	135.18%	101.05%	97.43%
Return on Equity (ROE)	-10.01%	-17.81%	-19.43%	-17.21%	-45.14%	-22.49%	-22.45%	-27.74%	-19.36%	-22.47%	-21.08%
Cash Return on Invested Capital (CROIC)	-180.74%	-140.56%	-123.41%	-65.26%	-70.34%	-65.71%	-79.39%	-77.03%	-180.64%	-133.15%	-120.78%
Operating Return on Assets (OROA)	-9.20%	-18.09%	-19.70%	-16.86%	-47.51%	-23.26%	-22.70%	-27.34%	-17.75%	-22.20%	-20.24%
Return on Assets (ROA)	-9.25%	-18.23%	-19.89%	-17.08%	-47.90%	-23.54%	-23.15%	-27.62%	-18.30%	-22.53%	-20.56%
Return on Common Equity (ROCE)	-10.01%	-17.81%	-19.43%	-17.21%	-45.14%	-22.49%	-22.45%	-27.74%	-19.36%	-22.47%	-21.08%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-16.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-5.37	-8.63	-8.67	-7.61	-18	-8.83	-8.27	-10	-6.47	-7.07	-6.45
NOPAT Margin	-15.04%	-24.27%	-24.08%	-20.99%	-49.44%	-24.08%	-21.69%	-24.74%	-15.71%	-16.87%	-14.95%
Net Nonoperating Expense Percent (NNEP)	-0.26%	-1.16%	-1.40%	-1.09%	-4.79%	-1.92%	-2.08%	-2.95%	-1.67%	-2.30%	-2.04%
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%	-5.37%
Cost of Revenue to Revenue	24.32%	24.89%	25.80%	26.86%	25.77%	25.93%	25.41%	24.46%	24.85%	25.78%	25.57%
SG&A Expenses to Revenue	27.66%	31.39%	29.76%	26.63%	25.71%	29.95%	28.93%	41.35%	24.26%	24.81%	22.07%
R&D to Revenue	29.46%	33.96%	35.80%	35.18%	37.26%	38.90%	36.66%	32.80%	36.31%	35.10%	34.61%
Operating Expenses to Revenue	97.16%	109.78%	108.60%	103.14%	144.86%	108.48%	105.58%	110.88%	97.60%	98.31%	95.79%
Earnings before Interest and Taxes (EBIT)	-5.81	-10	-11	-9.04	-25	-11	-11	-14	-8.25	-9.48	-8.52
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-4.66	-9.42	-9.70	-8.31	-25	-11	-11	-13	-8.20	-9.29	-8.70
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.30	2.55	2.09	2.09	2.03	1.74	1.93	3.05	3.79	1.95	2.02
Price to Tangible Book Value (P/TBV)	2.56	2.86	2.38	2.38	2.12	1.82	2.02	3.20	3.97	2.05	2.12
Price to Revenue (P/Rev)	3.33	3.51	2.51	2.44	2.06	1.69	1.80	2.61	3.09	1.49	1.45
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)	7.37	7.74	5.56	5.51	9.24	5.49	6.46	16.65	27.41	6.64	7.52
Enterprise Value to Revenue (EV/Rev)	2.18	2.45	1.60	1.55	1.17	0.88	1.02	1.87	2.36	0.86	0.84
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	-0.86	-0.83	-0.82	-0.77	-0.83	-0.80	-0.79	-0.81	-0.88	-0.83	-0.84
Leverage Ratio	1.15	1.13	1.15	1.15	1.18	1.15	1.18	1.24	1.28	1.24	1.26
Compound Leverage Factor	1.10	1.13	1.15	1.15	1.19	1.15	1.18	1.24	1.28	1.24	1.26
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	8.78	12.02	7.44	7.20	4.38	4.71	4.77	4.15	5.16	2.36	2.04
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	8.32	10.51	7.82	7.49	6.11	7.50	6.75	3.93	3.78	4.19	3.77
Quick Ratio	8.07	10.19	7.59	7.19	5.93	7.27	6.54	3.53	3.47	3.82	3.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-26	-29	-25	-4.69	4.11	12	9.21	13	-1.59	-4.61	-1.81
Operating Cash Flow to CapEx	250.20%	-1,065.41%	-99.09%	-326.14%	374.87%	-2,007.27%	-438.32%	-92.88%	150.89%	-1,678.74%	-93.71%
Free Cash Flow to Firm to Interest Expense	0.00	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	0.00	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	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.57	0.61	0.66	0.68	0.70	0.76	0.82	0.83	0.89	0.98	1.02
Accounts Receivable Turnover	5.56	5.81	5.70	5.62	5.78	6.23	6.02	6.33	6.44	6.60	6.45
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	16.09	16.23	15.92	0.00	16.51	17.11	17.52	0.00	20.29	21.71	21.74
Accounts Payable Turnover	5.09	8.32	7.81	7.39	8.11	10.28	10.74	11.27	10.00	10.04	11.44
Days Sales Outstanding (DSO)	65.70	62.79	64.03	64.94	63.14	58.56	60.65	57.64	56.71	55.34	56.58
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)	71.64	43.87	46.74	49.38	45.01	35.50	33.99	32.39	36.49	36.35	31.91
Cash Conversion Cycle (CCC)	-5.94	18.92	17.29	15.56	18.13	23.07	26.67	25.25	20.22	18.99	24.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	41	44	41	40	18	23	23	17	14	21	19
Invested Capital Turnover	4.51	4.09	4.32	3.42	4.90	4.30	4.60	5.30	9.83	7.32	7.93
Increase / (Decrease) in Invested Capital	20	20	16	-2.93	-22	-21	-17	-23	-4.88	-2.45	-4.64
Enterprise Value (EV)	301	344	227	223	170	128	151	285	370	139	141
Market Capitalization	460	493	357	350	299	247	266	399	485	242	242
Book Value per Share	$3.30	$3.16	$2.85	$2.81	$2.46	$2.35	$2.27	$2.12	$2.05	$1.96	$1.87
Tangible Book Value per Share	$2.96	$2.82	$2.51	$2.47	$2.36	$2.25	$2.17	$2.02	$1.95	$1.86	$1.78
Total Capital	200	193	171	167	148	142	138	131	128	124	120
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	-160	-149	-130	-127	-129	-119	-114	-113	-115	-103	-101
Capital Expenditures (CapEx)	1.27	0.69	0.66	0.88	0.56	0.52	0.96	1.05	0.51	0.70	1.15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	9.67	13	9.67	9.33	2.12	7.38	7.26	0.58	-2.03	5.49	2.67
Debt-free Net Working Capital (DFNWC)	169	162	140	136	131	126	122	114	113	109	104
Net Working Capital (NWC)	169	162	140	136	131	126	122	114	113	109	104
Net Nonoperating Expense (NNE)	0.47	1.95	2.17	1.54	6.91	2.57	2.55	3.54	2.03	2.55	2.21
Net Nonoperating Obligations (NNO)	-160	-149	-130	-127	-129	-119	-114	-113	-115	-103	-101
Total Depreciation and Amortization (D&A)	1.15	1.08	1.03	0.73	0.03	0.10	0.02	0.04	0.05	0.19	-0.18
Debt-free, Cash-free Net Working Capital to Revenue	7.00%	9.18%	6.80%	6.50%	1.46%	5.05%	4.90%	0.38%	-1.29%	3.38%	1.60%
Debt-free Net Working Capital to Revenue	122.54%	114.97%	98.18%	94.80%	90.61%	86.47%	82.25%	74.71%	71.77%	66.96%	62.27%
Net Working Capital to Revenue	122.54%	114.97%	98.18%	94.80%	90.61%	86.47%	82.25%	74.71%	71.77%	66.96%	62.27%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.09)	($0.17)	($0.18)	($0.15)	($0.43)	($0.19)	($0.18)	($0.22)	($0.13)	($0.15)	($0.13)
Adjusted Weighted Average Basic Shares Outstanding	60.14M	61.19M	59.82M	59.68M	60.21M	60.57M	61.25M	62.09M	61.72M	63.68M	64.49M
Adjusted Diluted Earnings per Share	($0.09)	($0.17)	($0.18)	($0.15)	($0.43)	($0.19)	($0.18)	($0.22)	($0.13)	($0.15)	($0.13)
Adjusted Weighted Average Diluted Shares Outstanding	60.14M	61.19M	59.82M	59.68M	60.21M	60.57M	61.25M	62.09M	61.72M	63.68M	64.49M
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	61.06M	59.98M	59.48M	59.91M	60.38M	60.81M	61.74M	62.49M	63.33M	64.13M	64.92M
Normalized Net Operating Profit after Tax (NOPAT)	-5.37	-8.63	-8.67	-7.61	-18	-8.83	-8.27	-10	-6.47	-7.07	-6.45
Normalized NOPAT Margin	-15.04%	-24.27%	-24.08%	-20.99%	-49.44%	-24.08%	-21.69%	-24.74%	-15.71%	-16.87%	-14.95%
Pre Tax Income Margin	-15.55%	-29.51%	-29.80%	-24.93%	-68.05%	-30.71%	-27.82%	-33.05%	-20.03%	-22.63%	-19.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	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	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	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	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	-1.41%	-1.62%	-1.26%	-0.82%	-0.52%	-0.52%	-0.48%	-0.67%	0.00%	0.00%
Augmented Payout Ratio	-0.21%	-1.76%	-2.05%	-1.60%	-1.05%	-0.72%	-0.70%	-0.64%	-0.90%	-0.50%	-0.90%

Financials Breakdown Chart

Key Financial Trends

CS Disco’s latest financial statements show improving revenue growth and operating losses, but the company remains unprofitable and continues to consume cash. In Q2 2026, revenue increased to $43.1 million, up 13.2% from $38.1 million in Q2 2025 and 2.6% from $41.9 million in Q1 2026. This represents a meaningful acceleration from the low-single-digit growth seen during parts of 2024 and 2025.

Revenue growth is improving: Quarterly revenue increased from $35.7 million in Q4 2023 to $43.1 million in Q2 2026. Year-over-year growth in the latest quarter was 13.2%.
Gross margins remain strong and stable: Q2 2026 gross profit was $32.1 million, representing a gross margin of approximately 74.4%. Margins have remained near 74% across the comparable Q2 periods, suggesting relatively consistent service-delivery economics.
Operating losses have narrowed: The Q2 2026 operating loss was $9.2 million, improving from $11.8 million in Q2 2025, $10.1 million in Q1 2026 and $14.5 million in Q3 2025. The operating margin improved to approximately negative 21.4% from negative 31.0% in Q2 2025.
Operating expenses are becoming more disciplined relative to revenue: Total operating expenses rose only 2.7% year over year in Q2 2026, while revenue grew 13.2%. Selling, general and administrative expense also declined from $11.0 million in Q2 2025 to $9.5 million.
Debt exposure is limited: Total liabilities were $41.2 million at June 30, 2026, and the cash-flow statement showed only $11,000 of debt repayment during the quarter. This reduces near-term interest and refinancing risk.
Liquidity remains substantial: Cash and short-term investments totaled approximately $101.4 million at the end of Q2 2026, compared with $101.8 million of combined cash and short-term investments in Q2 2025. Current assets of $141.6 million substantially exceeded current liabilities of $37.5 million.
Cash flow improved sequentially but remains inconsistent: Cash used in operating activities fell to $1.1 million in Q2 2026 from $11.7 million in Q1 2026. However, operating cash flow was still negative, and the company generated positive operating cash flow in only one of the recent quarters provided, Q4 2025.
Investment activity largely drives quarterly cash movements: CS Disco continues to purchase and sell large amounts of short-term investments. Q2 2026 included $43.3 million of investment purchases and $39.0 million of sales or maturities, resulting in a $5.5 million investing cash outflow. These transactions appear primarily related to liquidity management rather than expansionary capital spending.
The company remains persistently unprofitable: Q2 2026 net loss was $8.7 million, or $0.13 per diluted share. CS Disco has reported net losses in every income statement period provided, while retained earnings declined to negative $360.1 million.
Cash reserves have fallen substantially over the longer term: Cash and equivalents declined from $157.7 million in Q3 2023 to $10.9 million in Q2 2026. Although short-term investments provide additional liquidity, total cash and investments have also fallen from approximately $157.7 million in Q3 2023 to $101.4 million currently.
Accounts receivable growth warrants monitoring: Accounts receivable increased 17.2% year over year to $28.0 million in Q2 2026, faster than the company’s latest quarterly revenue growth. If collections weaken, working-capital pressure could increase.
Shareholder equity is declining: Total equity fell to $120.2 million in Q2 2026 from $137.9 million in Q2 2025 and $167.3 million in Q3 2024. Continued net losses are reducing the company’s balance-sheet cushion.

Overall, the statements point to a business that is improving its growth rate and operating efficiency, but has not yet reached profitability or sustained positive operating cash flow. The key issue for investors is whether revenue growth can continue outpacing expense growth enough to eliminate the operating loss before the company’s liquidity declines materially.

10/14/26 08:03 AM 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 financial year ends in December. Their financial year 2025 ended on December 31, 2025.

CS Disco's net income appears to be on a downward trend, with a most recent value of -$44.37 million in 2025, falling from -$22.87 million in 2020. The previous period was -$55.77 million in 2024. See CS Disco's forecast for analyst expectations on what's next for the company.

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%.

In the past 11 quarters, CS Disco's cash and equivalents has ranged from $10.89 million in Q2 2026 to $157.65 million in Q3 2023, and is currently $10.89 million as of their latest financial filing in Q2 2026.

CS Disco had total debt of $0.00 at the end of 2025, compared with none in 2024, and none in 2020.

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

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Financial statements for NYSE:LAW last updated on 8/5/2026 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

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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

When does CS Disco's fiscal year end?

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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