CS Disco LLC (LAW) financial statements
CS Disco LLC reported revenue of $157M in fiscal 2025, up 18.0% a year over 5 years.
Net income was -$44M and the operating margin -30.7%, against -32.9% in 2020.
Free cash flow was -$18M, and the company returned $105,000 in net buybacks.
The diluted share count rose 369% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from CS Disco LLC's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $68M | $114M | $135M | $138M | $145M | $157M |
| Cost of revenue | $20M | $31M | $34M | $35M | $37M | $39M |
| Gross profit | $48M | $83M | $101M | $103M | $107M | $117M |
| Research and development | $27M | $34M | $59M | $52M | $52M | $57M |
| Selling, general and admin | $45M | $73M | $114M | $101M | $102M | $109M |
| Operating income | -$23M | -$24M | -$72M | -$50M | -$62M | -$48M |
| Pre-tax income | -$23M | -$24M | -$71M | -$42M | -$55M | -$44M |
| Income tax | $71,000 | $81,000 | $186,000 | $443,000 | $332,000 | $743,000 |
| Net income | -$23M | -$24M | -$71M | -$42M | -$56M | -$44M |
| EPS (diluted) | -$1.74 | -$0.73 | -$1.20 | -$0.70 | -$0.93 | -$0.72 |
| Diluted shares | 13M | 33M | 59M | 60M | 60M | 62M |
| Gross margin | 70.1% | 72.8% | 74.7% | 74.7% | 74.2% | 74.9% |
| Operating margin | -32.9% | -20.8% | -53.1% | -36.1% | -42.6% | -30.7% |
| Net margin | -33.4% | -21.3% | -52.3% | -30.5% | -38.5% | -28.3% |
Balance sheet
Fiscal years, from CS Disco LLC's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $59M | $255M | $203M | $160M | $129M | $115M |
| Receivables | $13M | $21M | $23M | $27M | $23M | $26M |
| Total current assets | $73M | $281M | $232M | $192M | $157M | $153M |
| Property, plant and equipment | $4M | $5M | $8M | $10M | $8M | $8M |
| Goodwill | — | $0 | $6M | $6M | $6M | $6M |
| Total assets | $79M | $287M | $256M | $232M | $180M | $174M |
| Total current liabilities | $12M | $19M | $23M | $23M | $26M | $40M |
| Total liabilities | $13M | $19M | $33M | $31M | $33M | $46M |
| Shareholders' equity | -$95M | $269M | $224M | $200M | $148M | $128M |
| Net debt | -$59M | -$255M | -$203M | -$160M | -$53M | -$20M |
Cash flow
Fiscal years, from CS Disco LLC's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$23M | -$22M | -$46M | -$26M | -$9M | -$15M |
| Capital spending | $2M | $3M | $4M | $5M | $3M | $3M |
| Free cash flow | -$25M | -$25M | -$50M | -$30M | -$12M | -$18M |
| Stock-based compensation | $2M | $6M | $22M | $16M | $22M | $24M |
| Share buybacks (net) | -$138,000 | -$476,000 | -$264,000 | -$89,000 | -$127,000 | -$105,000 |
| Net borrowing | $0 | $0 | — | — | — | — |
| Free cash flow margin | -36.0% | -21.6% | -37.3% | -22.0% | -8.0% | -11.5% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for LAW.
Open LAW in InvestinglyQuestions
What was CS Disco LLC's revenue in 2025?
$157M in fiscal 2025, from its 10-K filing.
How much free cash flow does CS Disco LLC generate?
-$18M in fiscal 2025 (operating cash flow minus capital spending).
From CS Disco LLC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.