10-K · February 25, 2026
DISCO (LAW) shows steady top-line growth and product-led momentum: total quarterly revenue for 2025 summed to $157,000,000 (Q1 $37M, Q2 $38M, Q3 $41M, Q4 $41M), customer base grew to 1,549 with a 98% dollar-based net…
Earnings analysis · 10-Q
LAW earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
CS Disco, Inc. showed strong performance in Q1 2026 with revenue reaching $41.9 million, a 14% increase year-over-year, while EPS losses improved from -$11.4 million in Q1 2025 to -$9.6 million. The positive revenue…
Read full summary
CS Disco, Inc. showed strong performance in Q1 2026 with revenue reaching $41.9 million, a 14% increase year-over-year, while EPS losses improved from -$11.4 million in Q1 2025 to -$9.6 million. The positive revenue trend was bolstered by growth in both new and existing customer revenues despite some declines in usage from existing accounts. However, increased operational costs continue to press down on profitability.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.23
- Segment
- Software revenue growth 12%
- Segment
- Services revenue growth 25%
What stood out
-
Revenue Growth of 14% YOY
Total revenue rose to $41.9 million from $36.7 million in Q1 2025, representing a 14% increase.
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Improving EPS Loss
Diluted EPS loss decreased to -$0.23 compared to -$0.31 in Q1 2025.
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Adjusted EBITDA Loss Narrows
Adjusted EBITDA improved to -$3.5 million from -$5.1 million in Q1 2025.
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Cost of Revenue Flat as Percentage
Cost of revenue stayed at 26% of revenue, showing efficiency amidst growth.
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Strong Cash Position
As of March 31, 2026, cash and short-term investments provide a total of $103 million.
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Segment Performance
Revenue from services increased by 25%, while revenue from software product offerings increased by 12%.
What to watch
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Increased Operating Losses Persist
Net loss reached $9.6 million compared to $11.4 million in Q1 2025, highlighting ongoing financial challenges.
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Decreases in Usage from Existing Customers
Revenue decline of $1.6 million from existing customers due to reduced usage.
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Dependency on Litigation Activity
Revenue heavily tied to litigation workloads, which can be unpredictable.
Management's outlook
Management indicated intentions to stabilize revenue growth but did not issue specific numeric guidance.
Earlier filings 4
10-Q · November 5, 2025
CS Disco, Inc. reported better-than-expected financial results for Q3 2025, with revenues of $40.9 million, a 12.9% increase from $36.3 million in Q3 2024. However, the company continued to incur net losses, reporting…
10-Q · August 6, 2025
CS Disco reported Q2 revenue of $38,106,000 (up $2,101,000 vs. Q2 2024) with gross margin improving to 74.6% and an operating loss narrowing to $(11,810,000). Cash and cash equivalents fell materially to $21,672,000…
10-Q · May 7, 2025
DISCO reported Q1 revenue of $36.653M, up $1.082M (+3.0%) year-over-year, with gross profit of $27.150M (74.1%) and an operating loss of $12.610M (-34.4% operating margin). Cash decreased materially to $34.533M while…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.