CS Disco, Inc.
Description
CS Disco, Inc. provides cloud-native and artificial intelligence-powered legal solutions for legal hold, legal request, ediscovery, legal document review, and case management in the United States and internationally. It offers DISCO Request, a solution that automates response compliance for legal requests; and DISCO Ediscovery, a solution that automates the ediscovery process and saves legal departments from manual tasks associated with collecting, processing, enriching, searching, reviewing, analyzing, producing, and using enterprise data that is at issue in legal matters. The company also provides DISCO Hold, a solution that automates manual work to preserve data, notify custodians, track holds with a defensible audit trail, and collect data when ready; DISCO Review, an AI-powered document review solution that delivers legal document reviews; and DISCO Case Builder, a solution that allows legal professionals to collaborate with teams to build a compelling case by offering a single place to search, organize, and review witness testimony and other legal data. The company's solutions are used in various legal matters comprising litigation, investigation, compliance, and diligence. It serves enterprises, law firms, legal services providers, and governments. CS Disco, Inc. was founded in 2012 and is headquartered in Austin, Texas.
About
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 5, 2025 | — | — | — | — |
| Aug 7, 2025 | — | — | — | — |
| May 8, 2025 | — | — | — | — |
| Feb 21, 2025 | -0.11 | — | — | — |
| Nov 7, 2024 | -0.09 | -0.06 | 0.03 | -33.33% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 6 | — | 6 |
| Average estimate | — | -0.09 | — | -0.29 |
| Low estimate | — | -0.12 | — | -0.41 |
| High estimate | — | -0.05 | — | -0.15 |
| Last year EPS | — | -0.08 | — | -0.33 |
Growth estimates
Analyst Ratings
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| Jan 6, 2025 |
Jefferies
Brent Thill
|
Maintains | Hold | ▼ Lowers $6 → $5.5 |
| Dec 9, 2024 |
Needham
Scott Berg
|
Maintains | Buy | Maintains $8 |
| Nov 7, 2024 |
Needham
Scott Berg
|
Reiterates | Buy | Maintains $8 |
| Oct 29, 2024 |
Jefferies
Brent Thill
|
Maintains | Hold | ▲ Raises $5.5 → $6 |
| Aug 9, 2024 |
Needham
Scott Berg
|
Maintains | Buy | ▼ Lowers $11 → $8 |
| Jul 2, 2024 |
JP Morgan
Brian Essex
|
Downgrade | Underweight | ▼ Lowers $8 → $5 |
| May 10, 2024 |
Needham
Scott Berg
|
Maintains | Buy | ▼ Lowers $15 → $11 |
| Apr 10, 2024 |
Needham
Scott Berg
|
Reiterates | Buy | Maintains $15 |
| Mar 22, 2024 |
JP Morgan
Sterling Auty
|
Assumes | Neutral | Announces $9 |
| Mar 15, 2024 |
Needham
Scott Berg
|
Reiterates | Buy | Maintains $15 |
| Feb 23, 2024 |
Piper Sandler
Arvind Ramnani
|
Maintains | Neutral | ▲ Raises $6.5 → $7.5 |
| Feb 23, 2024 |
Needham
Scott Berg
|
Reiterates | Buy | Maintains $15 |
| Jan 4, 2024 |
Needham
Scott Berg
|
Reiterates | Buy | Maintains $15 |
| Nov 10, 2023 |
Piper Sandler
Arvind Ramnani
|
Maintains | Neutral | ▼ Lowers $9 → $6.5 |
| Sep 14, 2023 |
MoffettNathanson
Jackson Ader
|
Downgrade | Market Perform | Announces $9 |
| Sep 12, 2023 |
Needham
Scott Berg
|
Reiterates | Buy | Maintains $15 |
| Aug 11, 2023 |
Citigroup
|
Maintains | Neutral | — |
| Aug 10, 2023 |
JP Morgan
|
Maintains | Overweight | — |
| Aug 10, 2023 |
Needham
|
Reiterates | Buy | — |
| Aug 10, 2023 |
Stifel
|
Maintains | Buy | — |
| Aug 10, 2023 |
Piper Sandler
|
Maintains | Neutral | — |
| Aug 10, 2023 |
Canaccord Genuity
|
Maintains | Buy | — |
| May 11, 2023 |
Piper Sandler
Arvind Ramnani
|
Reiterates | Neutral | Maintains $7.5 |
| May 11, 2023 |
Stifel
Parker Lane
|
Maintains | Buy | ▼ Lowers $10 → $8 |
| May 11, 2023 |
Canaccord Genuity
David Hynes
|
Maintains | Buy | ▼ Lowers $10 → $9 |
| May 11, 2023 |
Needham
Scott Berg
|
Reinstates | Buy | Maintains $15 |
| Feb 27, 2023 |
Piper Sandler
Arvind Ramnani
|
Downgrade | Neutral | ▼ Lowers $11 → $7.5 |
| Feb 24, 2023 |
Needham
Scott Berg
|
Reiterates | Buy | Maintains $15 |
| Feb 24, 2023 |
Cowen & Co.
J. Derrick Wood
|
Maintains | Market Perform | ▼ Lowers $12 → $8 |
| Jan 12, 2023 |
Citigroup
Tyler Radke
|
Downgrade | Neutral | ▼ Lowers $16 → $8 |
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 138.09M | 135.19M | 114.34M | 68.44M | 48.56M |
| Cost of revenue | 34.95M | 34.16M | 31.10M | 20.45M | 14.46M |
| Gross profit | 103.14M | 101.03M | 83.24M | 48.00M | 34.10M |
| Operating expense | |||||
| Research & development | 51.62M | 59.26M | 34.41M | 26.60M | 25.35M |
| Selling general and admin | 101.36M | 113.58M | 72.66M | 44.95M | 39.10M |
| Other operating expenses | — | — | — | — | — |
| Operating income | -49.85M | -71.81M | -23.83M | -22.50M | -30.35M |
| Non operating interest income | |||||
| Income | 8.31M | 1.70M | 106,000 | 155,000 | 652,000 |
| Expense | 168,000 | 473,000 | 540,000 | 456,000 | 124,000 |
| Other income expense | — | — | — | — | — |
| Pretax income | -41.71M | -70.58M | -24.26M | -22.80M | -29.82M |
| Tax provision | 443,000 | 186,000 | 81,000 | 71,000 | 10,000 |
| Net income | -42.15M | -70.77M | -24.34M | -22.87M | -29.83M |
| Basic EPS | -0.70 | -1.20 | -0.73 | -0.47 | -0.65 |
| Diluted EPS | -0.70 | -1.20 | -0.73 | -0.47 | -0.65 |
| Basic average shares | 60.14M | 58.75M | 33.21M | 49.18M | 45.97M |
| Diluted average shares | 60.14M | 58.75M | 33.21M | 49.18M | 45.97M |
| EBITDA | -37.38M | -67.13M | -22.05M | -20.72M | -28.90M |
| Net income from continuing op. | -42.15M | -70.77M | -24.34M | -22.87M | -29.83M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | 56,000 | 92,000 | 86,000 |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 231.55M | 256.32M | 287.40M | 79.11M | 35.90M |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 159.55M | 203.24M | 255.48M | 58.57M | 23.22M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 26.99M | 22.72M | 20.74M | 12.91M | 7.36M |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 5.80M | 5.58M | 4.63M | 1.36M | 1.34M |
| Non current assets | |||||
| Properties | 8.14M | 9.82M | 864,000 | 1.85M | — |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 17.95M | 12.98M | 8.90M | 6.17M | 4.37M |
| Construction in progress | — | — | — | — | — |
| Leases | 1.03M | 467,000 | 111,000 | 111,000 | 330,000 |
| Accumulated depreciation | -9.31M | -5.94M | -3.67M | -2.41M | -1.11M |
| Goodwill | 26.48M | 12.76M | — | 3.26M | 1.89M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 14.68M | 962,000 | — | 3.26M | 1.89M |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 823,000 | 591,000 | 351,000 | 539,000 | 382,000 |
| Total liabilities | 31.21M | 32.69M | 18.72M | 174.03M | 110.25M |
| Current liabilities | |||||
| Accounts payable | 5.23M | 8.49M | 4.69M | 3.59M | 3.99M |
| Accrued expenses | 11.73M | 8.24M | 10.80M | 5.88M | 3.80M |
| Short term debt | 1.87M | 1.94M | 989,000 | 1.13M | — |
| Deferred revenue | 4.29M | 4.10M | 2.18M | 1.64M | 1.42M |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 7.29M | 8.97M | — | 989,000 | — |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 800,000 | 950,000 | 75,000 | — | 270,000 |
| Shareholders equity | |||||
| Common stock | 306,000 | 296,000 | 291,000 | 68,000 | 67,000 |
| Retained earnings | -240.38M | -198.23M | -127.46M | -103.12M | -80.25M |
| Other shareholders equity | — | — | — | — | — |
| Total shareholders equity | 200.34M | 223.64M | 268.68M | -94.92M | -74.35M |
| Additional paid in capital | 440.41M | 421.57M | 395.85M | 8.13M | 5.83M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -42.15M | -70.77M | -24.34M | -22.87M | -29.83M |
| Depreciation | 4.16M | 2.97M | 1.67M | 1.62M | 803,000 |
| Deferred Taxes | — | — | — | — | — |
| Stock-Based Compensation | 16.16M | 21.74M | 5.60M | 1.99M | 4.12M |
| Other Non-Cash Items | 2.18M | 3.12M | 1.23M | 1.41M | 38,000 |
| Accounts Receivable | -6.71M | -3.27M | -8.66M | -6.00M | -4.56M |
| Accounts Payable | -4.09M | 3.19M | 1.09M | -397,000 | 2.28M |
| Other Assets & Liabilities | -1.47M | 904,000 | -3.68M | -1.19M | 284,000 |
| Operating Cash Flow | -31.92M | -42.12M | -27.09M | -25.43M | -26.87M |
| Investing Activities | |||||
| Capital Expenditures | -4.86M | -4.38M | -3.11M | -1.90M | -3.33M |
| Net Intangibles | -14.00M | — | — | — | — |
| Net Acquisitions | -1.18M | -5.31M | — | — | — |
| Purchase of Investments | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — |
| Investing Cash Flow | -6.04M | -9.69M | -3.11M | -1.90M | -3.33M |
| Financing Activities | |||||
| Long-Term Debt Issuance | — | — | — | 23.30M | — |
| Long-Term Debt Payments | -40,000 | -42,000 | -112,000 | -23.41M | -5.78M |
| Other Financing Charges | — | — | — | -176,000 | — |
| Financing Cash Flow | -129,000 | -590,000 | 219.22M | 59.51M | 43.98M |
| Other Cash Details | |||||
| End Cash Position | 159.55M | 203.24M | 255.48M | 58.57M | 23.22M |
| Income Tax Paid | 766,000 | 397,000 | 97,000 | 87,000 | 36,000 |
| Interest Paid | — | — | 105,000 | 365,000 | 85,000 |
| Free Cash Flow | -44.39M | -50.39M | -24.75M | -24.62M | -30.62M |
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