CS Disco Inc (LAW)

DISCO Updates Presentation Date and Format at the 21st Annual Needham Technology, Media, & Consumer ConferenceMay 7, 2026 5:19 PM
Business Wire CS Disco, Inc. (“DISCO”) (NYSE: LAW), a creator of industry-leading litigation technology, today announced an update to its previously announced participation in the 21st Annual Needham Technology, Media, & Consumer Conference. The presentation, originally scheduled for May 12, 2026, will now be held virtually on May 14, 2026 at 9:15 a.m. Central Time (10:15 a.m. Eastern Time). Chief Executive Officer Eric Friedrichsen will join Chief Product, Technology and Strategy Officer Richard Crum for the virtual presentation. A live webcast of the presentation will be available on DISCO’s investor relations website at ir.csdisco.com. An archived replay will also be made available at the same location for a limited time following the presentation. About DISCO DISCO (NYSE: LAW) provides comprehensive, innovative solutions for modern litigation. We create and service an intuitive, cloud-native platform at the forefront of litigation technology, backed by the partnership of expert professional services and support. Leveraging the latest in AI to help law firms and corporations achieve smarter outcomes faster, our scalable products and tools allow customers to simplify everyday tasks and tackle complex matters at every stage of litigation. Learn more at www.csdisco.com. References to “DISCO,” the “Company,” “our” or “we” in this press release refer to CS Disco, Inc. and its subsidiaries on a consolidated basis. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507554030/en/ Investor Contact
Aleksey Lakchakov
DISCO Investor Relations
IR@csdisco.com Press Contact
Bill Roberts
DISCO Public Relations
media@csdisco.com Original: DISCO Updates Presentation Date and Format at the 21st Annual Needham Technology, Media, & Consumer Conference

DISCO Announces First Quarter 2026 Financial ResultsMay 6, 2026 7:30 AM
Business Wire Total Revenue of $41.9 Million, A Year over Year Increase of 14% CS Disco, Inc. (“DISCO”) (NYSE: LAW) today announced financial results for its first quarter ended March 31, 2026. "This was another quarter of strong execution with accelerating total revenue, customer growth, and progress towards profitability," said Eric Friedrichsen, CEO. "With the enthusiastic customer reception to our new all-inclusive DISCO platform and the excitement around our advanced agentic AI capabilities, our progress in the first quarter has helped further differentiate DISCO as a continued innovator in the industry and a clear leader in AI for litigation." First Quarter 2026 Financial Highlights: Software revenue was $34.7 million, up 12% compared to the first quarter of 2025. Total revenue was $41.9 million, up 14% compared to the first quarter of 2025. GAAP net loss was $9.6 million, compared to $11.4 million in the first quarter of 2025. Adjusted EBITDA was $(3.5) million, an improvement of 32% compared to $(5.1) million in the first quarter of 2025. Recent Business Highlights: Director Appointment: DISCO welcomed AI SaaS veteran and current Paylocity Holding Corporation President and CEO, Toby Williams, to the Board of Directors in April 2026. Large Customers: DISCO grew to 347 customers with revenue in excess of $100,000 over the previous 12-month period as of March 31, 2026, a 9% increase compared to March 31, 2025. Second Quarter and Full Year 2026 Financial Outlook As of May 6, 2026, DISCO is issuing the following outlook for the second quarter of 2026 and fiscal year 2026: Second quarter of 2026: Software revenue in the range of $36.1 million - $37.1 million. Total revenue in the range of $41.5 million - $43.5 million. Adjusted EBITDA in the range of $(4.5) million - $(2.5) million. Fiscal year 2026: Software revenue in the range of $146.0 million - $152.5 million. Total revenue in the range of $169.25 million - $178.75 million. Adjusted EBITDA in the range of $(8.0) million - $(4.0) million. DISCO’s second quarter and fiscal year 2026 financial outlook is based on assumptions that are subject to change, many of which are outside of its control. If actual results vary from these assumptions, these expectations may change. There can be no assurance that DISCO will achieve these results. A reconciliation of Adjusted EBITDA on a forward-looking basis to net loss, the most directly comparable GAAP measure, is not available without unreasonable efforts due to the high variability and complexity and low visibility with respect to the charges excluded from this non-GAAP measure; in particular, the effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in DISCO’s stock price and expenses associated with the stockholder litigation. DISCO expects the variability of the above charges to have a significant, and potentially unpredictable, impact on its future GAAP financial results. Conference Call Information DISCO will host a conference call and webcast at 7:30 a.m. CT (8:30 a.m. ET) today, May 6, 2026, to discuss its first quarter financial results and business highlights. The conference call can be accessed by dialing (833) 461-5787 from the United States or +1 (585) 542-9983 internationally with conference ID 681118653. The live webcast of the conference call and other materials related to DISCO’s financial performance can be accessed from DISCO’s investor relations website at ir.csdisco.com. Following the completion of the call a webcast replay will be available at ir.csdisco.com for 12 months. About DISCO DISCO (NYSE: LAW) provides comprehensive, innovative solutions for modern litigation. We create and service an intuitive, cloud-native platform at the forefront of litigation technology, backed by the partnership of expert professional services and support. Leveraging the latest in AI to help law firms and corporations achieve smarter outcomes faster, our scalable products and tools allow customers to simplify everyday tasks and tackle complex matters at every stage of litigation. References to “DISCO,” the “Company,” “our” or “we” in this press release refer to CS Disco, Inc. and its subsidiaries on a consolidated basis. Use of Non-GAAP Financial Measures DISCO uses the following non-GAAP financial measures: Adjusted EBITDA, Adjusted EBITDA margin; non-GAAP cost of revenue; non-GAAP gross profit; non-GAAP gross margin; non-GAAP research and development expense; non-GAAP research and development expense as a percentage of revenue; non-GAAP sales and marketing expense; non-GAAP sales and marketing expense as a percentage of revenue; non-GAAP general and administrative expense; non-GAAP general and administrative expense as a percentage of revenue; non-GAAP loss from operations; non-GAAP operating margin; non-GAAP net loss attributable to common stockholders, non-GAAP net loss attributable to common stockholders per share (basic and diluted) and non-GAAP net loss attributable to common stockholders as a percentage of revenue. Management believes that these non-GAAP financial measures are useful measures of operating performance because they exclude items that DISCO does not consider indicative of its core performance. In the case of Adjusted EBITDA and Adjusted EBITDA margin, DISCO adjusts net loss for such items as depreciation and amortization expense; income tax provision; interest and other, net; stock-based compensation expense; payroll tax expense on employee stock transactions; expenses associated with stockholder litigation; and other one-time, non-recurring items, when applicable. In the case of non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP gross margin, non-GAAP research and development expense, non-GAAP research and development expense as a percentage of revenue, non-GAAP sales and marketing expense and non-GAAP sales and marketing expense as a percentage of revenue, DISCO adjusts the respective GAAP balances for stock-based compensation expense, and other one-time, non-recurring items, when applicable. In the case of non-GAAP general and administrative expense, non-GAAP general and administrative expense as a percentage of revenue, non-GAAP loss from operations, non-GAAP operating margin, non-GAAP net loss attributable to common stockholders, non-GAAP net loss attributable to common stockholders per share (basic and diluted) and non-GAAP net loss attributable to common stockholders as a percentage of revenue, DISCO adjusts the respective GAAP balances for stock-based compensation expense, expenses associated with stockholder litigation, and other one-time, non-recurring items, when applicable. There are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures are not prepared in accordance with GAAP, do not reflect a comprehensive system of accounting and may not be completely comparable to similarly titled measures of other companies due to potential differences in the exact method of calculation between companies. Certain items that are excluded from these non-GAAP financial measures can have a material impact on operating loss and net loss. As a result, these non-GAAP financial measures have limitations and should be considered in addition to, not as a substitute for or superior to, the closest GAAP measures, or other financial measures prepared in accordance with GAAP. DISCO's management uses these non-GAAP measures as measures of operating performance; to prepare DISCO's annual operating budget; to allocate resources to enhance the financial performance of DISCO's business; to evaluate the effectiveness of DISCO's business strategies; to provide consistency and comparability with past financial performance; to facilitate a comparison of DISCO's results with those of other companies, many of which use similar non-GAAP financial measures to supplement their GAAP results; and in communication with DISCO’s board of directors concerning financial performance. Forward-Looking Statements This press release contains forward-looking statements, including, among other things, statements regarding DISCO’s future financial performance and DISCO’s product offerings, strategies and business initiatives. Words such as “may,” “should,” “will,” “believe,” “expect,” “anticipate,” “target,” “project,” and similar phrases that denote future expectation or intent regarding DISCO’s financial results, operations, and other matters are intended to identify forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause DISCO’s actual results, performance, or achievements to differ materially, including (i) our history of operating losses; (ii) our ability to maintain and advance our innovation and brand; (iii) our ability to effectively add new customers; (iv) our ability to effectively increase usage and penetration with our existing customer base; (v) our ability to expand our sales coverage and establish a digital sales channel; (vi) our ability to expand internationally; (vii) our ability to grow our partner ecosystem and maintain existing strategic relationships with law firms, legal services providers and our other partners; (viii) our ability to expand our offering portfolio to a wider range of legal processes outside of our current core offerings; (ix) our dependence on revenue from customer usage, which fluctuates based on the timing of and activity driven by legal matters for which our product offerings are used, and any shortfall of large matters on our platform; (x) our ability to pursue strategic acquisitions and strategic investments to expand the functionality and value of our product offerings; (xi) our ability to comply or remain in compliance with laws and regulations that currently apply or become applicable to our business in the jurisdictions in which we operate; (xii) the potential that our computer or electronic systems, applications or services, or those of any third parties on whom we depend, fail or suffer security or data privacy breaches or other unauthorized or improper access to, use of, or destruction of our proprietary or confidential data, employee data, or personal data; (xiii) our ability to compete effectively with existing competitors and new market entrants; (xiv) the impact of general macroeconomic conditions, such as fluctuations in inflation and interest rates and the imposition of tariffs in the United States and abroad, on our or our customers’ businesses; (xv) the impact of unfavorable conditions in the legal industry, including as a result of decreased levels of regulatory enforcement and future shutdowns of the U.S. government, on the growth of our business and usage of our product offerings; and (xvi) the impact that global events, such as the Russia-Ukraine war, the war in Iran and the broader conflict and escalating tensions in the Middle East, and any related economic downturn could have on our or our customers’ businesses, financial condition and results of operations. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 25, 2026. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that we make with the SEC from time to time, including our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. Forward-looking statements represent DISCO’s management’s beliefs and assumptions only as of the date such statements are made. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. CS DISCO, INC. Consolidated Balance Sheets (in thousands, except par value amounts) (unaudited)     March 31,
2026   December 31,
2025 Assets       Current assets:       Cash and cash equivalents $ 17,647     $ 19,655   Short-term investments   85,391       94,942   Accounts receivable, net   26,825       25,622   Insurance recovery receivable related to legal loss   8,084       8,039   Prepaid expenses and other current assets   4,574       4,736   Total current assets   142,521       152,994   Property and equipment, net   7,391       7,583   Operating lease right-of-use assets   5,535       6,121   Other intangible assets, net   161       206   Goodwill   5,898       5,898   Other assets   866       837   Total assets $ 162,372     $ 173,639   Liabilities and stockholders’ equity       Current liabilities:       Accounts payable $ 2,702     $ 3,888   Accrued expenses   7,797       6,533   Accrued legal loss   11,500       11,500   Accrued salary and benefits   4,935       10,457   Deferred revenue   4,338       5,382   Operating leases   2,681       2,624   Finance leases   44       44   Total current liabilities   33,997       40,428   Operating leases, non-current   3,535       4,231   Finance leases, non-current   61       72   Other liabilities   832       801   Total liabilities   38,425       45,532   Commitments and contingencies       Stockholders’ equity       Preferred stock $0.005 par value, 100,000 shares authorized and no shares issued and outstanding as of March 31, 2026 and December 31, 2025   —       —   Common stock $0.005 par value, 1,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 64,134 and 63,264 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively   321       317   Additional paid-in capital   475,067       469,560   Accumulated other comprehensive (loss) income   (21 )     32   Accumulated deficit   (351,420 )     (341,802 ) Total stockholders’ equity   123,947       128,107   Total liabilities and stockholders’ equity $ 162,372     $ 173,639   CS DISCO, INC. Consolidated Statements of Operations and Comprehensive Loss (in thousands, except per share amounts) (unaudited)     Three Months Ended
March 31,   2026   2025 Revenue $ 41,882     $ 36,653   Cost of revenue   10,799       9,503   Gross profit   31,083       27,150   Operating expenses:       Research and development   14,700       14,257   Sales and marketing   16,085       14,527   General and administrative   10,391       10,976   Total operating expenses   41,176       39,760   Loss from operations   (10,093 )     (12,610 ) Interest and other income, net   616       1,354   Loss from operations before income taxes   (9,477 )     (11,256 ) Income tax provision   (141 )     (137 ) Net loss attributable to common stockholders $ (9,618 )   $ (11,393 ) Unrealized loss on investments   (53 )     (40 ) Comprehensive loss $ (9,671 )   $ (11,433 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.15 )   $ (0.19 ) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted   63,675       60,565   CS DISCO, INC. Consolidated Statements of Cash Flows (in thousands) (unaudited)     Three Months Ended
March 31,   2026   2025 Cash flow from operating activities:       Net loss $ (9,618 )   $ (11,393 ) Adjustments to reconcile net loss to cash used in operations:       Depreciation and amortization   977       927   Stock-based compensation   5,435       5,879   Charge to allowance for credit losses   442       534   Non-cash operating lease costs   586       556   Amortization of premium on short-term investments   (789 )     (828 ) Other   258       (142 ) Changes in operating assets and liabilities:       Accounts receivable   (1,645 )     258   Insurance recovery receivable related to legal loss   (45 )     —   Prepaid expenses and other current assets   162       232   Other long-term assets   (47 )     —   Accounts payable   (1,489 )     1,536   Accrued expenses and other   (4,259 )     (7,159 ) Deferred revenue   (1,044 )     (391 ) Operating lease liabilities   (639 )     (466 ) Other liabilities   31       (41 ) Net cash used in operating activities   (11,684 )     (10,498 ) Cash flow from investing activities:       Purchases of property, equipment and capitalized software development costs   (700 )     (525 ) Purchases of short-term investments   (33,883 )     (45,436 ) Maturities of short-term investments   44,170       38,303   Proceeds from disposal of equipment   4       2   Net cash provided by (used in) investing activities   9,591       (7,656 ) Cash flow from financing activities:       Proceeds from exercise of stock options   8       6   Net proceeds from issuance of common stock under Employee Stock Purchase Plan   220       240   Repurchase of common stock related to net share settlement   (132 )     (24 ) Cash paid for acquisitions   —       (296 ) Principal payments on finance lease obligations   (11 )     (10 ) Net cash provided by (used in) financing activities   85       (84 ) Net decrease in cash and cash equivalents:   (2,008 )     (18,238 ) Cash and cash equivalents at beginning of period   19,655       52,771   Cash and cash equivalents at end of period $ 17,647     $ 34,533   CS DISCO, INC. Consolidated Statements of Cash Flows (continued) (in thousands) (unaudited)     Three Months Ended
March 31,   2026   2025 Supplemental disclosure:       Cash paid for taxes $ 109   $ 285 Non-cash investing and financing activities:       Property and equipment included in accounts payable and accrued liabilities $ 48   $ 86 CS DISCO, INC. Reconciliation from GAAP to Non-GAAP Results (in thousands, except for percentages and per share amounts)     Three Months Ended March 31,   2026   2025 Net loss $ (9,618 )   $ (11,393 ) Depreciation and amortization expense   977       927   Income tax provision   141       137   Interest and other, net   (616 )     (1,354 ) Stock-based compensation expense   5,435       5,879   Payroll tax expense on employee stock transactions   203       150   Expenses associated with stockholder litigation   —       565   Adjusted EBITDA $ (3,478 )   $ (5,089 ) Adjusted EBITDA margin   (8 )%     (14 )%   Three Months Ended March 31,   2026   2025 Cost of revenue $ 10,799     $ 9,503   Non-GAAP adjustments:       Stock-based compensation expense   (528 )     (499 ) Non-GAAP cost of revenue $ 10,271     $ 9,004   Non-GAAP gross profit $ 31,611     $ 27,649   Non-GAAP gross margin   75 %     75 %   Three Months Ended March 31,   2026   2025 Research and development $ 14,700     $ 14,257   Non-GAAP adjustments:       Stock-based compensation expense   (1,842 )     (2,043 ) Non-GAAP research and development $ 12,858     $ 12,214   Non-GAAP research and development as a % of revenue   31 %     33 %   Three Months Ended March 31,   2026   2025 Sales and marketing $ 16,085     $ 14,527   Non-GAAP adjustments:       Stock-based compensation expense   (1,322 )     (1,344 ) Non-GAAP sales and marketing $ 14,763     $ 13,183   Non-GAAP sales and marketing as a % of revenue   35 %     36 %   Three Months Ended March 31,   2026   2025 General and administrative $ 10,391     $ 10,976   Non-GAAP adjustments:       Stock-based compensation expense   (1,743 )     (1,993 ) Expenses associated with stockholder litigation   —       (565 ) Non-GAAP general and administrative $ 8,648     $ 8,418   Non-GAAP general and administrative as a % of revenue   21 %     23 %   Three Months Ended March 31,   2026   2025 Loss from operations $ (10,093 )   $ (12,610 ) Operating margin   (24 )%     (34 )% Non-GAAP adjustments:       Stock-based compensation expense   5,435       5,879   Expenses associated with stockholder litigation   —       565   Non-GAAP loss from operations $ (4,658 )   $ (6,166 ) Non-GAAP operating margin   (11 )%     (17 )%   Three Months Ended March 31,   2026   2025 Net loss attributable to common stockholders $ (9,618 )   $ (11,393 ) Non-GAAP adjustments:       Stock-based compensation expense   5,435       5,879   Expenses associated with stockholder litigation   —       565   Non-GAAP net loss attributable to common stockholders $ (4,183 )   $ (4,949 ) Non-GAAP net loss attributable to common stockholders per share, basic and diluted $ (0.07 )   $ (0.08 ) Weighted average shares used to compute basic and diluted net loss per share   63,675       60,565   Non-GAAP net loss attributable to common stockholders as a % of revenue   (10 )%     (14 )%   View source version on businesswire.com: https://www.businesswire.com/news/home/20260506925972/en/ Investor Relations Contact
IR@csdisco.com Original: DISCO Announces First Quarter 2026 Financial Results

Mound Cotton Selects DISCO as Ediscovery Provider of ChoiceApril 30, 2026 11:09 AM
Business Wire
DISCO (NYSE: LAW), a creator of industry-leading litigation technology, has announced an expansion of its strategic eDiscovery and AI technology partnership with Mound Cotton Wollan and Greengrass, a law firm that offers preeminent legal services across a wide array of practice areas including insurance, reinsurance, and commercial litigation.


“Mound Cotton has a long history of delivering innovative legal services and expertise to a sophisticated set of clients that prize security, technical capability and -- most of all -- results. Our partnership with DISCO helps broaden our strengths to meet their evolving needs across transactional, regulatory and highly complex matters," said Mound Cotton Wollan & Greengrass Chief Operating Officer, Matthew Bruck. “We have the luxury of being able to select the best-in-class solution, and the unanimous verdict was that DISCO AI is a dramatically better product today and that the gap will only widen in the future.”


Discovery in litigation, especially document review, can often be a cumbersome, time-consuming and costly process. As litigation data volumes grow, forward-thinking firms and organizations are adopting AI tools to streamline workflows to deliver faster, smarter, and more scalable document review.


Mound Cotton is signing a new three-year enterprise agreement making DISCO the provider of choice for eDiscovery technology across their firm, and through this ongoing collaboration they have expanded both the number of matters and the volume of data it manages on the DISCO platform.


"Our clients are facing a rapidly changing technological landscape that is increasingly being influenced by mature and scalable AI solutions,” said DISCO’s Vice President, Product Management, Devin Kani. “We are pleased to expand our relationship with Mound Cotton and enable them to leverage our industry-leading technology and professional services capabilities to support complex workflows and large data matters.”


With a strong presence in New York’s Financial District and additional locations across the U.S., Mound Cotton serves a diverse clientele. Working with DISCO has allowed the firm to shift resources away from manual review methods to help drive optimal legal service delivery and efficiencies, with defensible eDiscovery and AI-powered tools that help to augment human review without compromising precision or accuracy.


About Mound Cotton


Founded in 1933 and based in New York’s Financial District, Mound Cotton Wollan & Greengrass LLP is engaged in insurance, reinsurance, and commercial litigation and arbitration as well as corporate, securities, and commodities practices.


About DISCO


DISCO (NYSE: LAW) provides comprehensive, innovative solutions for modern litigation. We create and service an intuitive, cloud-native platform at the forefront of litigation technology, backed by the partnership of expert professional services and support. Leveraging the latest in AI to help law firms and corporations achieve smarter outcomes faster, our scalable products and tools allow customers to simplify everyday tasks and tackle complex matters at every stage of litigation. Learn more at www.csdisco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260430333902/en/
Press: press@csdisco.com


Original: Mound Cotton Selects DISCO as Ediscovery Provider of Choice

DISCO to Present at the 21st Annual Needham Technology, Media, & Consumer ConferenceApril 28, 2026 4:15 PM
Business Wire
CS Disco, Inc. (“DISCO”) (NYSE: LAW), a creator of industry-leading litigation technology, today announced that its Chief Product, Technology and Strategy Officer, Richard Crum, will present at Needham’s Technology, Media, and Consumer Conference on May 12, 2026 at 2:45 p.m. Central Time (3:45 p.m. Eastern Time)


A live webcast of the presentation will be available on DISCO’s investor relations website at ir.csdisco.com. An archived replay will also be made available at the same location for a limited time following the presentation.


About DISCO


DISCO (NYSE: LAW) provides comprehensive, innovative solutions for modern litigation. We create and service an intuitive, cloud-native platform at the forefront of litigation technology, backed by the partnership of expert professional services and support. Leveraging the latest in AI to help law firms and corporations achieve smarter outcomes faster, our scalable products and tools allow customers to simplify everyday tasks and tackle complex matters at every stage of litigation. Learn more at www.csdisco.com.


References to “DISCO,” the “Company,” “our” or “we” in this press release refer to CS Disco, Inc. and its subsidiaries on a consolidated basis.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260428637425/en/
Investor Contact

Aleksey Lakchakov

DISCO Investor Relations

IR@csdisco.com


Press Contact

Bill Roberts

DISCO Public Relations

media@csdisco.com


Original: DISCO to Present at the 21st Annual Needham Technology, Media, & Consumer Conference

DISCO Appoints Toby Williams to Board of DirectorsApril 23, 2026 7:46 AM
Business Wire
Public-company software executive brings growth focus and broad C-Suite expertise


DISCO (NYSE: LAW), a creator of industry-leading litigation technology, has announced that AI SaaS veteran and current Paylocity President and CEO Toby Williams has been appointed to the company’s Board of Directors, effective April 22, 2026.


“Toby brings a wealth of expertise that is deeply relevant for DISCO as it continues to be at the forefront of litigation technology,” said Chairman of the Board Scott Hill. “As a public-company veteran who has worked in AI and cloud-based services across the C-Suite and in the boardroom, Toby has both the hands-on experience and leadership perspective that will be invaluable as DISCO embarks on its next stage of growth.”


Over his nearly 25-year career, Williams has served in senior roles in both public and privately held cloud-based software companies, including Corporate Finance, Product and Strategy and Corporate Development. He began his career as an attorney and investment banker.


“DISCO is building real momentum in AI for litigation that’s evident in its strategic progress, its platform and its financial results,” Williams said. “I am excited to join a very active and engaged group of directors and work closely with the senior leadership team to further accelerate and grow this business.”


Williams has served as President and CEO of Paylocity since 2024 and previously served as Co-CEO and CFO. He also sits on the Paylocity Board of Directors. Prior to Paylocity, he held senior roles at Ellucian and Paychex.


Forward-Looking Statements


This press release contains forward-looking statements, including, among other things, statements regarding the impact of Toby Williams’ appointment to the DISCO Board of Directors, the impact of AI on DISCO’s business and DISCO’s future growth. Words such as “may,” “should,” “will,” “believe,” “expect,” “anticipate,” “target,” “continue,” “potential,” “build,” “extend” and similar phrases that denote future expectation or intent regarding DISCO’s business are intended to identify forward-looking statements. You should not rely upon forward-looking statements as predictions of future events.


The forward-looking statements contained in this press release are subject to a variety of risks, uncertainties, and factors, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 25, 2026. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that we make with the SEC from time to time.


Forward-looking statements represent DISCO’s management’s beliefs and assumptions only as of the date such statements are made. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.


About DISCO


DISCO (NYSE: LAW) provides comprehensive, innovative solutions for modern litigation. We create and service an intuitive, cloud-native platform at the forefront of litigation technology, backed by the partnership of expert professional services and support. Leveraging the latest in AI to help law firms and corporations achieve smarter outcomes faster, our scalable products and tools allow customers to simplify everyday tasks and tackle complex matters at every stage of litigation. Learn more at www.csdisco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260423530476/en/
Press: media@csdisco.com

Investor Relations: ir@csdisco.com


Original: DISCO Appoints Toby Williams to Board of Directors

DISCO to Announce First Quarter 2026 Financial Results On May 6, 2026April 15, 2026 4:15 PM
Business Wire
Conference Call Scheduled for May 6, 2026 at 7:30 a.m. CT


CS Disco, Inc. (“DISCO”) (NYSE: LAW), a creator of industry-leading litigation technology, today announced that it will report its financial results for the first quarter ended March 31, 2026 before market open on Wednesday, May 6, 2026.


The financial results and business highlights will be discussed on a conference call and webcast scheduled at 7:30 a.m. Central Time (8:30 a.m. Eastern Time) on Wednesday, May 6, 2026. The conference call can be accessed by dialing (833) 461-5787 from the United States or +1 (585) 542-9983 internationally, with conference ID 681118653. The live webcast of the conference call can be accessed from DISCO’s investor relations website at ir.csdisco.com.


Following the completion of the call a webcast replay will be available at ir.csdisco.com for 12 months.


About DISCO


DISCO (NYSE: LAW) provides comprehensive, innovative solutions for modern litigation. We create and service an intuitive, cloud-native platform at the forefront of litigation technology, backed by the partnership of expert professional services and support. Leveraging the latest in AI to help law firms and corporations achieve smarter outcomes faster, our scalable products and tools allow customers to simplify everyday tasks and tackle complex matters at every stage of litigation. Learn more at www.csdisco.com.


References to “DISCO,” the “Company,” “our” or “we” in this press release refer to CS Disco, Inc. and its subsidiaries on a consolidated basis.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260415843501/en/
Investor Contact

Aleksey Lakchakov

DISCO Investor Relations

IR@csdisco.com
Press Contact

Bill Roberts

DISCO Public Relations

media@csdisco.com


Original: DISCO to Announce First Quarter 2026 Financial Results On May 6, 2026

DISCO Announces All-Inclusive Platform for eDiscoveryFebruary 25, 2026 8:56 AM
Business Wire
Also introduces new pricing approach to meet evolving litigation needs


DISCO (NYSE: LAW), a creator of industry-leading litigation technology, today announced an all-new, all-inclusive solution for litigation, investigations and regulatory responses, designed to put its market-leading eDiscovery and AI tools in a single platform at a single, transparent price.


The new DISCO offering combines its eDiscovery, Cecilia AI, deposition management and timelines capabilities into a powerful platform to give customers one-stop access to some of the most advanced litigation technology available. The DISCO platform will also include DISCO’s newly announced, first-of-its-kind agentic AI solution for eDiscovery at no additional charge.


“Fast-evolving generative AI capabilities are demonstrating that one-off eDiscovery products are increasingly inadequate. DISCO’s platform assembles the most impactful tools for modern litigation into a seamless end-to-end solution,” said CEO Eric Friedrichsen. “Combining advanced, enterprise-grade features with an unparalleled user experience in one package at a single price is just the latest way we continue to innovate on behalf of our customers.”


The new DISCO platform includes:


Ediscovery: Premier technology delivering instant access to the data that matters most;

Cecilia AI: Advanced AI-powered Legal tools to streamline and accelerate litigation;

Deposition Management and Timelines: Powerful assisted deposition and timeline capabilities – previously sold separately as Case Builder – tailored to support every matter.


In addition to its all-inclusive platform, DISCO also announced a new pricing approach – one transparent, per GB price on processed data with no ingest fees that better enable clear like-for-like comparisons of costs and capabilities.


“As more and more customers look to take advantage of AI to maximize their team's capabilities, we’re making it simple to access all of DISCO’s advanced technology at a single, predictable cost,” said Chief Product, Technology and Strategy Officer Richard Crum. “We’re not building point solutions. We’re building powerful, integrated tools that tackle the full litigation lifecycle of today’s largest and most complex matters.”


DISCO’s new platform – including its agentic capabilities – will be on display at Legalweek; stop by for a demonstration or more information.


Forward-Looking Statements


This press release contains forward-looking statements, including, among other things, statements regarding the features and benefits of DISCO’s new all-inclusive platform and new pricing structure.


Words such as “may,” “should,” “will,” “believe,” “expect,” “anticipate,” “target,” “continue,” “potential,” “build,” “extend” and similar phrases that denote future expectation or intent regarding DISCO’s business are intended to identify forward-looking statements. You should not rely upon forward-looking statements as predictions of future events.


The forward-looking statements contained in this press release are subject to a variety of risks, uncertainties, and factors, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the SEC on November 5, 2025. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that we make with the SEC from time to time.


Forward-looking statements represent DISCO’s management’s beliefs and assumptions only as of the date such statements are made. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.


About DISCO


DISCO (NYSE: LAW) provides comprehensive, innovative solutions for modern litigation. We create and service an intuitive, cloud-native platform at the forefront of litigation technology, backed by the partnership of expert professional services and support. Leveraging the latest in AI to help law firms and corporations achieve smarter outcomes faster, our scalable products and tools allow customers to simplify everyday tasks and tackle complex matters at every stage of litigation. Learn more at www.csdisco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260225417927/en/
Press: press@csdisco.com

Investors: ir@csdisco.com


Original: DISCO Announces All-Inclusive Platform for eDiscovery

DISCO Announces Fourth Quarter and Fiscal Year 2025 Financial ResultsFebruary 25, 2026 7:30 AM
Business Wire
Fourth Quarter 2025 Total Revenue of $41.2 Million, A Year over Year Increase of 11%


CS Disco, Inc. (“DISCO”) (NYSE: LAW) today announced financial results for its fourth quarter and fiscal year ended December 31, 2025.


"DISCO continues to show what's possible as an innovator in legal technology as our AI solutions were significant growth drivers in the fourth quarter and a key part of strong full-year results for 2025," said Eric Friedrichsen, CEO of DISCO. "We are continuing that disruptive trend in 2026 with the launch of the industry's first scaled agentic AI solution for eDiscovery and a new AI-inclusive platform that combines all of our Cecilia AI platform capabilities into a single, powerful offering for the largest and most complex matters in modern litigation."


Fourth Quarter 2025 Financial Highlights:



Software revenue was $35.1 million, up 14% compared to the fourth quarter of 2024.



Total revenue was $41.2 million, up 11% compared to the fourth quarter of 2024.



GAAP net loss was $8.5 million, compared to $25.2 million in the fourth quarter of 2024.



Adjusted EBITDA was $(2.2) million, compared to $(4.3) million in the fourth quarter of 2024.



Fiscal Year 2025 Financial Highlights:



Software revenue was $134.0 million, up 12% compared to fiscal year 2024.



Total revenue was $156.8 million, up 8% compared to fiscal year 2024.



GAAP net loss was $44.4 million, compared to $55.8 million in fiscal year 2024.



Adjusted EBITDA was $(10.2) million, compared to $(18.7) million in fiscal year 2024.



Recent Business Highlights:



Cecilia AI platform and Auto Review: DISCO reported that revenue from its Cecilia AI platform and Auto Review increased over 600% in the fourth quarter of 2025 compared to the fourth quarter of 2024.



Agentic AI: DISCO announced the industry’s first scaled agentic AI tool for fact investigation and eDiscovery.



New Commercial Model: DISCO announced a new commercial model in which DISCO Ediscovery, DISCO Case Builder, and the Cecilia AI platform will be included for one per gigabyte rate. The new offering will be based on the industry standard approach to pricing in which the formula is based on the size of the customer data as it grows over time.



First Quarter and Fiscal Year 2026 Financial Outlook


As of February 25, 2026, DISCO is issuing the following outlook for the first quarter of 2026 and fiscal year 2026:


First quarter of 2026:



Software revenue in the range of $33.75 million - $35.25 million.



Total revenue in the range of $39.0 million - $41.5 million.



Adjusted EBITDA in the range of $(6.0) million - $(4.0) million.



Fiscal year 2026:



Software revenue in the range of $145.5 million - $152.5 million.



Total revenue in the range of $167.0 million - $177.0 million.



Adjusted EBITDA in the range of $(8.5) million - $(4.5) million.



DISCO’s first quarter and fiscal year 2026 financial outlook is based on assumptions that are subject to change, many of which are outside of its control. If actual results vary from these assumptions, these expectations may change. There can be no assurance that DISCO will achieve these results.


A reconciliation of Adjusted EBITDA on a forward-looking basis to net loss, the most directly comparable GAAP measure, is not available without unreasonable efforts due to the high variability and complexity and low visibility with respect to the charges excluded from this non-GAAP measure; in particular, the effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in DISCO’s stock price and expenses associated with the stockholder litigation. DISCO expects the variability of the above charges to have a significant, and potentially unpredictable, impact on its future GAAP financial results.


Conference Call Information


DISCO will host a conference call and webcast at 7:30 a.m. CT (8:30 a.m. ET) today, February 25, 2026, to discuss its fourth quarter and fiscal year 2025 financial results and business highlights. The conference call can be accessed by dialing (888) 300-4030 from the United States or +1 (646) 970-1443 internationally with conference ID 8394292. The live webcast of the conference call and other materials related to DISCO’s financial performance can be accessed from DISCO’s investor relations website at ir.csdisco.com.


Following the completion of the call until 10:59 p.m. CT (11:59 p.m. ET) on Wednesday, March 18, 2026, a telephone replay will be available by dialing (800) 770-2030 from the United States, or +1 (609) 800-9909 internationally with conference ID 8394292. A webcast replay will also be available at ir.csdisco.com for 12 months.


About DISCO


DISCO (NYSE: LAW) provides comprehensive, innovative solutions for modern litigation. We create and service an intuitive, cloud-native platform at the forefront of litigation technology, backed by the partnership of expert professional services and support. Leveraging the latest in AI to help law firms and corporations achieve smarter outcomes faster, our scalable products and tools allow customers to simplify everyday tasks and tackle complex matters at every stage of litigation.


References to “DISCO,” the “Company,” “our” or “we” in this press release refer to CS Disco, Inc. and its subsidiaries on a consolidated basis.


Use of Non-GAAP Financial Measures


DISCO uses the following non-GAAP financial measures: Adjusted EBITDA, Adjusted EBITDA margin; non-GAAP cost of revenue; non-GAAP gross profit; non-GAAP gross margin; non-GAAP research and development expense; non-GAAP research and development expense as a percentage of revenue; non-GAAP sales and marketing expense; non-GAAP sales and marketing expense as a percentage of revenue; non-GAAP general and administrative expense; non-GAAP general and administrative expense as a percentage of revenue; non-GAAP loss from operations; non-GAAP operating margin; non-GAAP net loss attributable to common stockholders, non-GAAP net loss attributable to common stockholders per share (basic and diluted) and non-GAAP net loss attributable to common stockholders as a percentage of revenue. Management believes that these non-GAAP financial measures are useful measures of operating performance because they exclude items that DISCO does not consider indicative of its core performance.


In the case of Adjusted EBITDA and Adjusted EBITDA margin, DISCO adjusts net loss for such items as depreciation and amortization expense; income tax provision; interest and other, net; stock-based compensation expense; payroll tax expense on employee stock transactions; acquisition revaluation expense; expenses associated with stockholder litigation; impairment of intangible asset and capitalized development; and other one-time, non-recurring items, when applicable. In the case of non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP gross margin, non-GAAP research and development expense, non-GAAP research and development expense as a percentage of revenue, non-GAAP sales and marketing expense and non-GAAP sales and marketing expense as a percentage of revenue, DISCO adjusts the respective GAAP balances for stock-based compensation expense, and other one-time, non-recurring items, when applicable. In the case of non-GAAP general and administrative expense, non-GAAP general and administrative expense as a percentage of revenue, DISCO adjusts the respective GAAP balances for stock-based compensation expense, acquisition revaluation expense, expenses associated with stockholder litigation, and other one-time, non-recurring items, when applicable. In the case of non-GAAP loss from operations, non-GAAP operating margin, non-GAAP net loss attributable to common stockholders, non-GAAP net loss attributable to common stockholders per share (basic and diluted) and non-GAAP net loss attributable to common stockholders as a percentage of revenue, DISCO adjusts the respective GAAP balances for stock-based compensation expense, acquisition revaluation expense, expenses associated with stockholder litigation, impairment of intangible asset and capitalized development, and other one-time, non-recurring items, when applicable.


There are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures are not prepared in accordance with GAAP, do not reflect a comprehensive system of accounting and may not be completely comparable to similarly titled measures of other companies due to potential differences in the exact method of calculation between companies. Certain items that are excluded from these non-GAAP financial measures can have a material impact on operating loss and net loss. As a result, these non-GAAP financial measures have limitations and should be considered in addition to, not as a substitute for or superior to, the closest GAAP measures, or other financial measures prepared in accordance with GAAP.


DISCO's management uses these non-GAAP measures as measures of operating performance; to prepare DISCO's annual operating budget; to allocate resources to enhance the financial performance of DISCO's business; to evaluate the effectiveness of DISCO's business strategies; to provide consistency and comparability with past financial performance; to facilitate a comparison of DISCO's results with those of other companies, many of which use similar non-GAAP financial measures to supplement their GAAP results; and in communication with DISCO’s board of directors concerning financial performance.


Forward-Looking Statements


This press release contains forward-looking statements, including, among other things, statements regarding DISCO’s future financial performance and DISCO’s product offerings, strategies and business initiatives. Words such as “may,” “should,” “will,” “believe,” “expect,” “anticipate,” “target,” “project,” and similar phrases that denote future expectation or intent regarding DISCO’s financial results, operations, and other matters are intended to identify forward-looking statements. You should not rely upon forward-looking statements as predictions of future events.


The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause DISCO’s actual results, performance, or achievements to differ materially, including (i) our history of operating losses; (ii) our ability to maintain and advance our innovation and brand; (iii) our ability to effectively add new customers; (iv) our ability to effectively increase usage and penetration with our existing customer base; (v) our ability to expand our sales coverage and establish a digital sales channel; (vi) our ability to expand internationally; (vii) our ability to grow our partner ecosystem and maintain existing strategic relationships with law firms, legal services providers and our other partners; (viii) our ability to expand our offering portfolio to a wider range of legal processes outside of our current core offerings; (ix) our dependence on revenue from customer usage, which fluctuates based on the timing of and activity driven by legal matters for which our product offerings are used, and any shortfall of large matters on our platform; (x) our ability to pursue strategic acquisitions and strategic investments to expand the functionality and value of our product offerings; (xi) our ability to comply or remain in compliance with laws and regulations that currently apply or become applicable to our business in the jurisdictions in which we operate; (xii) the potential that our computer or electronic systems, applications or services, or those of any third parties on whom we depend, fail or suffer security or data privacy breaches or other unauthorized or improper access to, use of, or destruction of our proprietary or confidential data, employee data, or personal data; (xiii) our ability to compete effectively with existing competitors and new market entrants; (xiv) the impact of general macroeconomic conditions, such as fluctuations in inflation and interest rates and the imposition of tariffs in the United States and abroad, on our or our customers’ businesses; (xv) the impact of unfavorable conditions in the legal industry, including as a result of decreased levels of regulatory enforcement and future shutdowns of the U.S. government, on the growth of our business and usage of our product offerings; and (xvi) the impact that global events, such as the Russia-Ukraine war and conflict in the Middle East, and any related economic downturn could have on our or our customers’ businesses, financial condition and results of operations.


The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including our Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, filed with the SEC on November 5, 2025. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that we make with the SEC from time to time, including our Annual Report on Form 10-K for the year ended December 31, 2025.


Forward-looking statements represent DISCO’s management’s beliefs and assumptions only as of the date such statements are made. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.


 




 CS DISCO, INC.






Consolidated Balance Sheets




(in thousands, except par value amounts)








 



 






December 31,








 






 






2025






 






 






 






2024






 








Assets






 






 






 








Current assets:






 






 






 








Cash and cash equivalents






$






19,655






 






 






$






52,771






 








Short-term investments






 






94,942






 






 






 






76,356






 








Accounts receivable, net






 






25,622






 






 






 






23,117






 








Insurance recovery receivable related to legal loss






 






8,039






 






 






 






—






 








Prepaid expenses and other current assets






 






4,736






 






 






 






4,692






 








Total current assets






 






152,994






 






 






 






156,936






 








Property and equipment, net






 






7,583






 






 






 






7,878






 








Operating lease right-of-use assets






 






6,121






 






 






 






8,388






 








Other intangible assets, net






 






206






 






 






 






400






 








Goodwill






 






5,898






 






 






 






5,898






 








Other assets






 






837






 






 






 






820






 








Total assets






$






173,639






 






 






$






180,320






 








Liabilities and stockholders’ equity






 






 






 








Current liabilities:






 






 






 








Accounts payable






$






3,888






 






 






$






3,994






 








Accrued expenses






 






6,533






 






 






 






5,947






 








Accrued legal loss






 






11,500






 






 






 






—






 








Accrued salary and benefits






 






10,457






 






 






 






9,127






 








Deferred revenue






 






5,382






 






 






 






4,296






 








Operating leases






 






2,624






 






 






 






2,288






 








Finance leases






 






44






 






 






 






42






 








Total current liabilities






 






40,428






 






 






 






25,694






 








Operating leases, non-current






 






4,231






 






 






 






6,855






 








Finance leases, non-current






 






72






 






 






 






116






 








Other liabilities






 






801






 






 






 






141






 








Total liabilities






 






45,532






 






 






 






32,806






 








Commitments and contingencies






 






 






 








Stockholders’ equity






 






 






 








Preferred stock $0.005 par value, 100,000 shares authorized and no shares issued and outstanding as of December 31, 2025 and 2024






 






—






 






 






 






—






 








Common stock $0.005 par value, 1,000,000 shares authorized as of December 31, 2025 and 2024; 63,264 and 60,329 shares issued and outstanding as of December 31, 2025 and 2024, respectively






 






317






 






 






 






302






 








Additional paid-in capital






 






469,560






 






 






 






444,601






 








Accumulated other comprehensive income






 






32






 






 






 






41






 








Accumulated deficit






 






(341,802






)






 






 






(297,430






)








Total stockholders’ equity






 






128,107






 






 






 






147,514






 








Total liabilities and stockholders’ equity






$






173,639






 






 






$






180,320






 







 




CS DISCO, INC.






Consolidated Statements of Operations and Comprehensive Loss




(in thousands, except per share amounts)











 



 






 






Three Months Ended

December 31,






 






Year Ended

December 31,








 






 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Revenue






 






$






41,171






 






 






$






36,999






 






 






$






156,849






 






 






$






144,841






 








Cost of revenue






 






 






10,231






 






 






 






9,534






 






 






 






39,425






 






 






 






37,414






 








Gross profit






 






 






30,940






 






 






 






27,465






 






 






 






117,424






 






 






 






107,427






 








Operating expenses:






 






 






 






 






 






 






 






 








Research and development






 






 






14,951






 






 






 






13,787






 






 






 






56,596






 






 






 






51,511






 








Sales and marketing






 






 






15,242






 






 






 






15,083






 






 






 






60,042






 






 






 






61,377






 








General and administrative






 






 






9,989






 






 






 






9,512






 






 






 






48,910






 






 






 






41,049






 








Impairment of intangible asset and capitalized development






 






 






—






 






 






 






15,213






 






 






 






—






 






 






 






15,213






 








Total operating expenses






 






 






40,182






 






 






 






53,595






 






 






 






165,548






 






 






 






169,150






 








Loss from operations






 






 






(9,242






)






 






 






(26,130






)






 






 






(48,124






)






 






 






(61,723






)








Interest and other income, net






 






 






996






 






 






 






953






 






 






 






4,495






 






 






 






6,281






 








Loss from operations before income taxes






 






 






(8,246






)






 






 






(25,177






)






 






 






(43,629






)






 






 






(55,442






)








Income tax provision






 






 






(256






)






 






 






(23






)






 






 






(743






)






 






 






(332






)








Net loss attributable to common stockholders






 






$






(8,502






)






 






$






(25,200






)






 






$






(44,372






)






 






$






(55,774






)








Unrealized gain (loss) on investments






 






 






22






 






 






 






(20






)






 






 






(9






)






 






 






41






 








Comprehensive loss






 






$






(8,480






)






 






$






(25,220






)






 






$






(44,381






)






 






$






(55,733






)








Net loss per share attributable to common stockholders, basic and diluted






 






$






(0.13






)






 






$






(0.42






)






 






$






(0.72






)






 






$






(0.93






)








Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted






 






 






62,873






 






 






 






60,102






 






 






 






61,721






 






 






 






60,212






 








 






 






 






 






 






 






 






 






 







 




CS DISCO, INC.






Consolidated Statements of Cash Flows




(in thousands)








 



 






Year Ended

December 31,








 






 






2025






 






 






 






2024






 








Cash flow from operating activities:






 






 






 








Net loss






$






(44,372






)






 






$






(55,774






)








Adjustments to reconcile net loss to cash used in operations:






 






 






 








Depreciation and amortization






 






3,658






 






 






 






3,926






 








Stock-based compensation






 






24,464






 






 






 






22,269






 








Charge to allowance for credit losses






 






1,887






 






 






 






2,112






 








Gain on disposal of long-lived assets






 






—






 






 






 






(4






)








Remeasurement of contingent consideration






 






—






 






 






 






303






 








Non-cash operating lease costs






 






2,266






 






 






 






1,813






 








Amortization of premium on short-term investments






 






(3,444






)






 






 






(1,057






)








Impairment of intangible asset and capitalized development






 






—






 






 






 






15,213






 








Other






 






(193






)






 






 






—






 








Changes in operating assets and liabilities:






 






 






 








Accounts receivable






 






(4,392






)






 






 






1,764






 








Insurance recovery receivable related to legal loss






 






(8,039






)






 






 






—






 








Prepaid expenses and other current assets






 






(43






)






 






 






1,103






 








Other long-term assets






 






(36






)






 






 






(7






)








Accounts payable






 






137






 






 






 






(849






)








Accrued expenses and other






 






2,285






 






 






 






2,485






 








Accrued legal loss






 






11,500






 






 






 






—






 








Deferred revenue






 






1,086






 






 






 






11






 








Operating lease liabilities






 






(2,288






)






 






 






(1,878






)








Other liabilities






 






588






 






 






 






(179






)








Net cash used in operating activities






 






(14,936






)






 






 






(8,749






)








Cash flow from investing activities:






 






 






 








Purchases of property, equipment and capitalized software development costs






 






(3,053






)






 






 






(2,781






)








Purchases of short-term investments






 






(206,095






)






 






 






(87,937






)








Maturities of short-term investments






 






190,944






 






 






 






12,679






 








Proceeds from disposal of equipment






 






8






 






 






 






4






 








Net cash used in investing activities






 






(18,196






)






 






 






(78,035






)








Cash flow from financing activities:






 






 






 








Proceeds from exercise of stock options






 






38






 






 






 






80






 








Net proceeds from issuance of common stock under Employee Stock Purchase Plan






 






421






 






 






 






600






 








Repurchase of common stock related to net share settlement






 






(105






)






 






 






(127






)








Repurchase of common stock related to share repurchase program






 






—






 






 






 






(20,052






)








Cash paid for acquisitions






 






(296






)






 






 






(456






)








Principal payments on finance lease obligations






 






(42






)






 






 






(41






)








Net cash provided by (used in) financing activities






 






16






 






 






 






(19,996






)








Net decrease in cash and cash equivalents:






 






(33,116






)






 






 






(106,780






)








Cash and cash equivalents at beginning of period






 






52,771






 






 






 






159,551






 








Cash and cash equivalents at end of period






$






19,655






 






 






$






52,771






 







 




CS DISCO, INC.






Consolidated Statements of Cash Flows (continued)




(in thousands)








 



 






Year Ended

December 31,








 






2025






 






2024








Supplemental disclosure:






 






 






 








Cash paid for taxes






$






1,223






 






$






896








Non-cash investing and financing activities:






 






 






 








Property and equipment included in accounts payable and accrued liabilities 






$






8






 






$






66







 




CS DISCO, INC.




Reconciliation from GAAP to Non-GAAP Results




(in thousands, except for percentages and per share amounts)










 



 






Three Months Ended




December 31,






 






Year Ended




December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Net loss






$






(8,502






)






 






$






(25,200






)






 






$






(44,372






)






 






$






(55,774






)








Depreciation and amortization expense






 






927






 






 






 






834






 






 






 






3,658






 






 






 






3,926






 








Income tax provision






 






256






 






 






 






23






 






 






 






743






 






 






 






332






 








Interest and other, net






 






(996






)






 






 






(953






)






 






 






(4,495






)






 






 






(6,281






)








Stock-based compensation expense






 






6,017






 






 






 






5,391






 






 






 






24,464






 






 






 






22,269






 








Payroll tax expense on employee stock transactions






 






139






 






 






 






71






 






 






 






600






 






 






 






537






 








Acquisition revaluation expense






 






—






 






 






 






303






 






 






 






—






 






 






 






303






 








Expenses associated with stockholder litigation






 






—






 






 






 






31






 






 






 






9,169






 






 






 






757






 








Impairment of intangible asset and capitalized development






 






—






 






 






 






15,213






 






 






 






—






 






 






 






15,213






 








Adjusted EBITDA






$






(2,159






)






 






$






(4,287






)






 






$






(10,233






)






 






$






(18,718






)








Adjusted EBITDA margin






 






(5






)%






 






 






(12






)%






 






 






(7






)%






 






 






(13






)%









 






Three Months Ended




December 31,






 






Year Ended




December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Cost of revenue






$






10,231






 






 






$






9,534






 






 






$






39,425






 






 






$






37,414






 








Non-GAAP adjustments:






 






 






 






 






 






 






 








Stock-based compensation expense






 






(570






)






 






 






(442






)






 






 






(2,192






)






 






 






(1,715






)








Non-GAAP cost of revenue






$






9,661






 






 






$






9,092






 






 






$






37,233






 






 






$






35,699






 








Non-GAAP gross profit






$






31,510






 






 






$






27,907






 






 






$






119,616






 






 






$






109,142






 








Non-GAAP gross margin






 






77






%






 






 






75






%






 






 






76






%






 






 






75






%









 






Three Months Ended




December 31,






 






Year Ended




December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Research and development






$






14,951






 






 






$






13,787






 






 






$






56,596






 






 






$






51,511






 








Non-GAAP adjustments:






 






 






 






 






 






 






 








Stock-based compensation expense






 






(1,986






)






 






 






(1,853






)






 






 






(8,232






)






 






 






(7,709






)








Non-GAAP research and development






$






12,965






 






 






$






11,934






 






 






$






48,364






 






 






$






43,802






 








Non-GAAP research and development as a % of revenue






 






31






%






 






 






32






%






 






 






31






%






 






 






30






%









 






Three Months Ended




December 31,






 






Year Ended




December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Sales and marketing






$






15,242






 






 






$






15,083






 






 






$






60,042






 






 






$






61,377






 








Non-GAAP adjustments:






 






 






 






 






 






 






 








Stock-based compensation expense






 






(1,351






)






 






 






(1,212






)






 






 






(5,593






)






 






 






(4,676






)








Non-GAAP sales and marketing






$






13,891






 






 






$






13,871






 






 






$






54,449






 






 






$






56,701






 








Non-GAAP sales and marketing as a % of revenue






 






34






%






 






 






37






%






 






 






35






%






 






 






39






%









 






Three Months Ended




December 31,






 






Year Ended




December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








General and administrative






$






9,989






 






 






$






9,512






 






 






$






48,910






 






 






$






41,049






 








Non-GAAP adjustments:






 






 






 






 






 






 






 








Stock-based compensation expense






 






(2,110






)






 






 






(1,884






)






 






 






(8,447






)






 






 






(8,169






)








Acquisition revaluation expense






 






—






 






 






 






(303






)






 






 






—






 






 






 






(303






)








Expenses associated with stockholder litigation






 






—






 






 






 






(31






)






 






 






(9,169






)






 






 






(757






)








Non-GAAP general and administrative






$






7,879






 






 






$






7,294






 






 






$






31,294






 






 






$






31,820






 








Non-GAAP general and administrative as a % of revenue






 






19






%






 






 






20






%






 






 






20






%






 






 






22






%









 






Three Months Ended




December 31,






 






Year Ended




December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Loss from operations






$






(9,242






)






 






$






(26,130






)






 






$






(48,124






)






 






$






(61,723






)








Operating margin






 






(22






)%






 






 






(71






)%






 






 






(31






)%






 






 






(43






)%








Non-GAAP adjustments:






 






 






 






 






 






 






 








Stock-based compensation expense






 






6,017






 






 






 






5,391






 






 






 






24,464






 






 






 






22,269






 








Acquisition revaluation expense






 






—






 






 






 






303






 






 






 






—






 






 






 






303






 








Expenses associated with stockholder litigation






 






—






 






 






 






31






 






 






 






9,169






 






 






 






757






 








Impairment of intangible asset and capitalized development






 






—






 






 






 






15,213






 






 






 






—






 






 






 






15,213






 








Non-GAAP loss from operations






$






(3,225






)






 






$






(5,192






)






 






$






(14,491






)






 






$






(23,181






)








Non-GAAP operating margin






 






(8






)%






 






 






(14






)%






 






 






(9






)%






 






 






(16






)%









 






Three Months Ended




December 31,






 






Year Ended




December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Net loss attributable to common stockholders






$






(8,502






)






 






$






(25,200






)






 






$






(44,372






)






 






$






(55,774






)








Non-GAAP adjustments:






 






 






 






 






 






 






 








Stock-based compensation expense






 






6,017






 






 






 






5,391






 






 






 






24,464






 






 






 






22,269






 








Acquisition revaluation expense






 






—






 






 






 






303






 






 






 






—






 






 






 






303






 








Expenses associated with stockholder litigation






 






—






 






 






 






31






 






 






 






9,169






 






 






 






757






 








Impairment of intangible asset and capitalized development






 






—






 






 






 






15,213






 






 






 






—






 






 






 






15,213






 








Non-GAAP net loss attributable to common stockholders






$






(2,485






)






 






$






(4,262






)






 






$






(10,739






)






 






$






(17,232






)








Non-GAAP net loss attributable to common stockholders per share, basic and diluted






$






(0.04






)






 






$






(0.07






)






 






$






(0.17






)






 






$






(0.29






)








Weighted average shares used to compute basic and diluted net loss per share






 






62,873






 






 






 






60,102






 






 






 






61,721






 






 






 






60,212






 








Non-GAAP net loss attributable to common stockholders as a % of revenue






 






(6






)%






 






 






(12






)%






 






 






(7






)%






 






 






(12






)%







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260224533812/en/
Investor Relations Contact

IR@csdisco.com


Original: DISCO Announces Fourth Quarter and Fiscal Year 2025 Financial Results