CS Disco, Inc. LAW
DISCO provides cloud-native, artificial intelligence-powered legal product offerings that simplify legal hold, legal request, ediscovery, legal document review and case management for enterprises, law firms, legal services providers and governments. Our scalable, integrated product offerings enable legal departments to easily collect, process and review enterprise data that is relevant or potentially relevant to legal matters. We leverage a cloud-native architecture and powerful artificial intelligence, or AI, models to automatically identify legally relevant documents and improve the accuracy and speed of legal document review. Our AI models continuously learn from legal work conducted using our product offerings and can be reused across legal matters, which further strengthens our ability to help our customers find evidence and resolve matters faster as they expand usage of our product offerings. We provide legal departments with the ability to centralize legal data into a single platform, improving security and privacy for our customers, enabling transparent collaboration with other legal industry participants and allowing customers to reuse data and lawyer work product across legal matters. By automating the manual, time-consuming and error-prone parts of legal hold, legal request, ediscovery, legal document review and case management, we empower lawyers to focus on delivering better legal outcomes.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $156.8M | $144.8M | $138.1M | $135.2M | $114.3M | $68.4M | — |
| Cost of revenue | $39.4M | $37.4M | $34.9M | $34.2M | $31.1M | $20.4M | — |
| Gross profit | $117.4M | $107.4M | $103.1M | $101.0M | $83.2M | $48.0M | — |
| R&D | $56.6M | $51.5M | $51.6M | $59.3M | $34.4M | $26.6M | — |
| SG&A | $48.9M | $41.0M | $33.2M | $40.7M | $25.6M | $13.9M | — |
| Total operating expenses | $165.5M | $169.2M | $153.0M | $172.8M | $107.1M | $70.5M | — |
| Operating income | -$48.1M | -$61.7M | -$49.8M | -$71.8M | -$23.8M | -$22.5M | — |
| Pre-tax income | -$43.6M | -$55.4M | -$41.7M | -$70.6M | -$24.3M | -$22.8M | — |
| Income tax | $743.0K | $332.0K | $443.0K | $186.0K | $81.0K | $71.0K | — |
| Net income | -$44.4M | -$55.8M | -$42.1M | -$70.8M | -$24.3M | -$22.9M | — |
| EPS, basic | -0.72 | -0.93 | -0.70 | -1.20 | -0.73 | -1.74 | — |
| EPS, diluted | -0.72 | -0.93 | -0.70 | -1.20 | -0.73 | -1.74 | — |
| Shares, diluted (wtd. avg.) | $61.7M | $60.2M | $60.1M | $58.8M | $33.2M | $13.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $19.7M | $52.8M | $159.6M | $203.2M | $255.5M | $58.6M | $23.2M |
| Short-term investments | $94.9M | $76.4M | $0 | — | — | — | — |
| Receivables | $25.6M | $23.1M | $27.0M | $22.7M | $20.7M | $12.9M | — |
| Total current assets | $153.0M | $156.9M | $192.3M | $231.5M | $280.9M | $72.8M | — |
| Goodwill | $5.9M | $5.9M | $5.9M | $5.9M | $0 | — | — |
| Other intangibles | $206.0K | $400.0K | $681.0K | $962.0K | $0 | — | — |
| Total assets | $173.6M | $180.3M | $231.5M | $256.3M | $287.4M | $79.1M | — |
| Accounts payable | $3.9M | $4.0M | $5.2M | $8.5M | $4.7M | $3.6M | — |
| Total current liabilities | $40.4M | $25.7M | $23.1M | $22.8M | $18.6M | $12.2M | — |
| Total liabilities | $45.5M | $32.8M | $31.2M | $32.7M | $18.7M | $13.2M | — |
| Retained earnings | -$341.8M | -$297.4M | -$240.4M | -$198.2M | -$127.5M | -$103.1M | — |
| Total equity | $128.1M | $147.5M | $200.3M | $223.6M | $268.7M | -$94.9M | -$74.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$14.9M | -$8.7M | -$25.5M | -$46.0M | -$21.6M | -$22.7M | — |
| Depreciation and amortisation | $3.7M | $3.9M | $4.2M | $3.0M | $1.7M | $1.6M | — |
| Stock-based compensation | $24.5M | $22.3M | $16.2M | $21.7M | $5.6M | $2.0M | — |
| Capital expenditure | $3.1M | $2.8M | $4.9M | $4.4M | $3.1M | $1.9M | — |
| Investing cash flow | -$18.2M | -$78.0M | -$20.0M | -$9.7M | -$3.1M | -$1.9M | — |
| Financing cash flow | $16.0K | -$20.0M | $1.9M | $3.5M | $221.7M | $60.0M | — |
| Buybacks | $105.0K | $127.0K | $89.0K | $264.0K | $476.0K | $138.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001625641-26-000044.
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