CS Disco, Inc. (LAW) Stock Price & Analysis
CS Disco, Inc. (LAW) closed at USD 5.25 on Wednesday, October 28, 2026, up 4.17% on the day. The US market is currently closed (after-hours); this is not a live price.
The prior close was USD 5.04; the Oct 28, 2026 session ranged USD 5–5.26 on volume of 343,785 shares. Market capitalization is $340.83M, with a 52-week range of USD 2.45–9.11 (NYQ). Source: Nexqual, retrieved October 28, 2026 at 21:15 UTC.
Also available as compact Markdown for AI agents: nexqual.com/LAW.md
Key facts (LAW)
- Last four reported quarters (through Jun 30, 2026): revenue $167M, net income -$40.4M (-24.2% margin), free cash flow -$16.4M (SEC filings).
- Insider open-market sales, last ~7 months: 8 Form 4 filings, $245K; 8 not under a Rule 10b5-1 plan ($245K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $68K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 6.67 (range 4–10).
- Total return with dividends: 1Y -20.2% vs S&P 500 +13.6%; 5Y -90.8% vs S&P 500 +79.8%.
- Next earnings: 2026-11-04, EPS estimate USD -0.02, revenue estimate $44.8M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (LAW)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $114M | $135M | $138M | $145M | $157M | $167M |
| Gross profit | $83.2M | $101M | $103M | $107M | $117M | — |
| Operating income | -$23.8M | -$71.8M | -$49.8M | -$61.7M | -$48.1M | -$43.0M |
| Net income | -$24.3M | -$70.8M | -$42.1M | -$55.8M | -$44.4M | -$40.4M |
| EPS (diluted) | -$0.73 | -$1.20 | -$0.70 | -$0.93 | -$0.72 | — |
| Free cash flow | -$24.7M | -$50.4M | -$30.4M | -$11.5M | -$18.0M | -$16.4M |
| Gross margin | 72.8% | 74.7% | 74.7% | 74.2% | 74.9% | — |
| Operating margin | -20.8% | -53.1% | -36.1% | -42.6% | -30.7% | -25.7% |
| Net margin | -21.3% | -52.3% | -30.5% | -38.5% | -28.3% | -24.2% |
| Revenue growth | +67.1% | +18.2% | +2.1% | +4.9% | +8.3% | — |
| Cash + short-term investments | $255M | $203M | $160M | $129M | $115M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (LAW)
P/S 2.0x · P/B 2.8x · FCF yield -4.81% · Earnings yield -11.87% · Buyback yield (TTM) 0.11%
Insider sales (SEC Form 4, open-market, last ~7 months) (LAW)
0 of 8 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-17 | Herckis Karen | EVP, Chief HR Officer | 8,487 | $35K | 4.5% | No | Too little history (no open-market trades in 2023) |
| 2026-08-17 | Antoon Melanie | EVP, Chief Customer Officer | 8,514 | $36K | 3.1% | No | Too little history (no open-market trades in 2023) |
| 2026-08-17 | Garcia Susan | GC & Chief Compliance Officer | 6,840 | $29K | 4.7% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-17 | Crum Richard Francis | EVP, Chief Prod & Tech Officer | 7,426 | $31K | 2.2% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-18 | Antoon Melanie | EVP, Chief Customer Officer | 8,590 | $31K | 3% | No | Too little history (no open-market trades in 2023) |
| 2026-05-18 | Crum Richard Francis | EVP, Chief Prod & Tech Officer | 7,492 | $27K | 2.1% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-18 | Garcia Susan | GC & Chief Compliance Officer | 6,972 | $25K | 4.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-18 | Herckis Karen | EVP, Chief HR Officer | 8,562 | $31K | 4.3% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (LAW)
2 purchases, $68K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-10 | Friedrichsen Eric | Chief Executive Officer | 7,500 | $32K | 4.26 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-08 | Friedrichsen Eric | Chief Executive Officer | 9,000 | $36K | 3.97 | Too little history (no open-market trades in 2023 or 2024) |
Analysts (LAW)
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 6.67 (low 4, high 10).
Total return (dividends reinvested) (LAW)
| 1Y (from 2025-10-29) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -20.2% | -90.8% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | -20.3% | -38.0% |
| Volatility (annualized) | 77.2% | 71.6% |
| Max drawdown | -69.0% (Dec 2025→Feb 2026) | -94.3% (Oct 2021→Feb 2026) |
LAW earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 5, 2026 | Quarter ended Jun 30, 2026 | −$0.06 | −$0.06 | In line | +4.1% |
| May 6, 2026 | Quarter ended Mar 31, 2026 | −$0.07 | −$0.09 | Beat +22.2% | -13.4% |
| Feb 25, 2026 | Quarter ended Dec 31, 2025 | −$0.04 | −$0.05 | Beat +20.0% | -8.6% |
| Nov 5, 2025 | Quarter ended Sep 30, 2025 | −$0.01 | −$0.07 | Beat +85.7% | +13.9% |
| Aug 6, 2025 | — | — | — | — | +6.8% |
| May 7, 2025 | — | — | — | — | +12.7% |
| Feb 20, 2025 | — | — | — | — | +1.7% |
| Nov 6, 2024 | — | — | — | — | -0.5% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
LAW recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Aug 5, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Aug 5, 2026 | 8-K | Quarterly results |
| Jul 23, 2026 | 8-K | Director or executive officer change, or pay arrangement “Director Appointment On July 22, 2026, the board of directors (the "Board") of CS Disco, Inc. (the "Company") increased the size of the Board from eight to nine directors and, following the recommendation of the Company's Nominating and Corporate Governance Committee of the Board, appointed Andre Mintz to serve as a member of the Board, effective immediately. Mr. Mintz was appointed as a Class II director for a term expiring at the Company's 2029 annual meeting of stockholders (the "2029 Annual Meeting"). The…” |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
LAW revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Software | $36.8M | 85.4% | +12.5% |
| Services | $6.3M | 14.6% | +17.6% |
| Total revenue | $43.1M | 100% | — |
LAW revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $38.2M | 88.5% | +8.7% |
| All other countries | $5.0M | 11.5% | +66.0% |
| Total revenue | $43.1M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
LAW suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Microsoft (MSFT) | “Furthermore, certain customers may require that we use or ensure that our product offerings are compatible with certain enterprise software offerings, such as Microsoft Office 365.” |
| Partner | Amazon (AMZN) | “Pursuant to our agreement with AWS, AWS has no obligation to renew such agreement with us on commercially reasonable terms, or at all.” |
Quoted from the company's 10-K filed Feb 25, 2026.
LAW company outlook (results filed Aug 5, 2026)
- “As of August 5, 2026, DISCO is issuing the following outlook for the third quarter of 2026 and fiscal year 2026: Third quarter of 2026: • Software revenue in the range of $38.1 million - $39.1 million. • Total revenue in the range of $43.75 million - $45.75 million. • Adjusted EBITDA in the range of $(1.75) million - $(0.25) million.”
- “DISCO's third quarter and fiscal year 2026 financial outlook is based on assumptions that are subject to change, many of which are outside of its control.”
Analysts expect $44.8M for the current quarter, 16.1% above the midpoint of the company's guidance ($38.6M).
Quoted word-for-word from the SEC 8-K results press release.
LAW analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.02 | $-0.01 | $0.00 | $44.8M | 3 |
| Next quarter (ends Dec 2026) | $0.01 | $-0.00 | +$0.01 | $45.9M | 3 |
| Current fiscal year (ends Dec 2026) | $-0.13 | $-0.14 | +$0.01 | $175.7M | 3 |
| Next fiscal year (ends Dec 2027) | $-0.03 | $-0.03 | −$0.01 | $194.2M | 3 |
LAW options: expected move
Options price a move of about ±18.1% (±$0.93) by Dec 18, 2026, which includes earnings on Nov 4, 2026. Over the last 8 reports the stock moved ±7.7% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Dec 18, 2026 | 51 | 61.5% | ±18.1% |
30-day implied volatility 90% vs 39% realized over the last 30 trading days. Put/call ratio (volume) —. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 28, 2026 at 21:15 UTC)
| Price | USD 5.25 |
|---|---|
| Change | ▲ 4.17% (up) |
| Previous Close | USD 5.04 |
| Open | USD 5 |
| Day Range | USD 5 – 5.26 |
| 52-Week Range | USD 2.45 – 9.11 |
| Volume | 343,785 shares |
| Market Cap | $340.83M |
| Exchange | NYQ |
Technical Analysis (LAW)
Nexqual's technical model rates LAW "BUY" based on 5 bullish and 3 bearish signals across 127 daily candles, as of October 28, 2026 at 21:15 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 75.43 (overbought) |
| vs SMA50 | Above (USD 4.37) |
| MACD | 0.22 (positive) |
Analyst Ratings (LAW)
Wall Street analysts rate LAW "Buy" based on 3 analysts, with a mean price target of USD 6.67 (range USD 4–10), per Nexqual as of October 28, 2026 at 21:15 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 3 |
| Mean Target | USD 6.67 |
| High Target | USD 10 |
| Low Target | USD 4 |
| Buy / Hold / Sell | 2 / 1 / 0 |
Earnings (LAW)
| Next Earnings Date | 2026-11-04 |
|---|---|
| EPS Estimate | USD -0.02 |
| Revenue Estimate | $44.82M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.06 vs est -0.06 ▲ beat |
| 2026-03-31 | USD -0.07 vs est -0.09 ▲ beat |
| 2025-12-31 | USD -0.04 vs est -0.05 ▲ beat |
| 2025-09-30 | USD -0.01 vs est -0.07 ▲ beat |
Source: Nexqual, October 28, 2026 at 21:15 UTC.
Financials & Fundamentals (LAW)
| Total Revenue | $167.12M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +13.20% |
| Gross Margin | +74.83% |
| Operating Margin | -21.36% |
| Profit Margin | -24.20% |
| ROE | -31.34% |
| Debt / Equity | 0.05 |
| Current Ratio | 3.77 |
| Total Cash | $101.39M |
| Total Debt | $5.66M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$16.39M (-9.8% of revenue) |
Source: Nexqual, October 28, 2026 at 21:15 UTC.
Financial Health Score (LAW)
Nexqual rates CS Disco, Inc.'s overall financial health "Mixed" across five dimensions, as of October 28, 2026 at 21:15 UTC.
| Growth | Solid — Revenue +8% YoY (annual) |
|---|---|
| Profitability | Solid — Gross margin 75%, operating -26% (last 4 quarters to Jun 2026, SEC) |
| Balance Sheet | Strong — $101M cash vs $6M debt, net cash position |
| Cash Flow | Weak — FCF negative: -$16M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Critical — ROE -34%, ROA -25.1% (last 4 quarters, SEC) |
Ownership (LAW)
| Insider Ownership | +23.30% |
|---|---|
| Institutional Ownership | +76.12% |
| Shares Outstanding | 64.92M |
| Float | 28.03M |
| Short % of Float | +5.28% |
Source: Nexqual, October 28, 2026 at 21:15 UTC.
Leadership (LAW)
CS Disco, Inc. is led by Eric Friedrichsen, President, CEO & Director, per Nexqual as of October 28, 2026 at 21:15 UTC.
| President, CEO & Director | Eric Friedrichsen |
|---|---|
| Chief Product, Technology & Strategy Officer | Richard Francis Crum |
| Executive VP, CFO & Principal Accounting Officer | Aaron Barfoot |
| Senior Vice President of Operations | Joe Jacobson |
| Director of Accounting | Kristen Stanley |
Major Backers & Investors (LAW)
Notable institutional backers of CS Disco, Inc. include Deer Management Co. LLC, Stephens Group, LLC, Topline Capital Management, LLC, according to Nexqual as of October 28, 2026 at 21:15 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Deer Management Co. LLC | 13.33% |
| Stephens Group, LLC | 12.01% |
| Topline Capital Management, LLC | 2.26% |
| Solel Partners LP | 1.83% |
| Lakewood Capital Management, LP | 1.7% |
| AQR Capital Management, LLC | 1.39% |
| Formula Growth Ltd | 1.23% |
| Fidelity | 0.7% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 3.1% |
| Vanguard Group | 2.92% |
Source: Nexqual, October 28, 2026 at 21:15 UTC.
From CS Disco, Inc.'s Latest SEC 10-K Filing (filed 2026-02-25)
Key Strengths & Strategy (as disclosed to the SEC)
- Our end-to-end platform was designed to improve the everyday experience of lawyers and legal professionals and improve legal outcomes for legal departments.
- Our single, end-to-end platform replaces the fragmented landscape of solutions and vendors historically used by legal departments.
- We rely on certain intellectual property rights, including patents, copyrights, trademarks and trade secrets, as well as contractual protections to establish and protect our proprietary rights with respect to employees, contractors, customers and partners.
- We believe our differentiated product offerings will enable us to efficiently acquire new customers across all channels.
Partnerships
- We provide legal departments with the ability to centralize legal data into a single platform, improving security and privacy for our customers, enabling transparent collaboration with other legal industry participants and allowing customers to reuse data and lawyer work product across legal matters.
Legal & Regulatory Risks (Item 1A, quoted)
- Any currently ongoing or future litigation against us could be costly and time-consuming to defend.
- We are, and may become, subject to legal proceedings and claims that arise in the ordinary course of business, such as claims brought by our customers in connection with commercial disputes or employment claims made by our current or former employees.
- We operate in a highly regulated industry and either are or may be subject to a wide range of federal, state and local, as well as foreign, laws, rules and regulations and our failure to comply with these laws and regulations may force us to change our operations or harm our business.
- Our product offerings include alternatives to certain traditional methods of legal services and we therefore may face claims that we are engaged in the unauthorized practice of law.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
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| RNG | Ringcentral, Inc. | USD 86.2 | ▲ 0.7% |
| APPF | AppFolio, Inc. | USD 205 | ▲ 1.76% |
| TTAN | ServiceTitan, Inc. | USD 80.86 | ▼ 0.93% |
| DSGX | The Descartes Systems Group Inc | USD 92.36 | ▲ 0.2% |
| IDCC | InterDigital, Inc. | USD 320.56 | ▼ 2.51% |
| YMM | Full Truck Alliance Co. Ltd. | USD 8.08 | ▼ 4.04% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 28, 2026 at 21:15 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt