CS Disco (LAW)
Cloud legal platform for ediscovery, legal holds and AI document review.
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Provides cloud-native litigation software for law firms, enterprises, governments and legal service providers. The platform supports legal holds, requests, ediscovery, document review, case preparation and AI-assisted evidence analysis, with demand tied to matter activity, customer usage, legal spending and competition from services and software providers.
Provides cloud-native legal technology for organizations handling litigation, investigations and regulatory responses. Core workflows include legal hold, legal request, ediscovery, document review, case building, deposition and timeline work, and AI-assisted evidence analysis through the Cecilia AI layer.
Revenue is organized as a single reporting segment, with software as the larger line and services covering managed review and professional support. Demand depends on matter volume, usage expansion, data processing needs, adoption by law firms and corporate legal departments, and the pace at which legal teams shift from service-heavy or legacy tools to cloud-based software.
Execution also depends on product quality, AI reliability, data security, legal-industry spending, customer retention and competition from private eDiscovery providers, legal services firms and public legal-information platforms.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Feb 26, 2026 | Needham | Target | Target: $35 | Target: $10 |
| Jan 5, 2026 | Jefferies | Reiterate | Rating: —Target: $6 | Target: $8 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $101.4M · Total debt $5.7M · Total assets $161.4M · Shareholders' equity $120.2M
- Revenue
- $43.1M
- Operating income
- −$9.2M
- Net income
- −$8.7M
No dividends on record.
| Institutions | 54.79% | 35.57M shares | |
|---|---|---|---|
| 123 holders · as of Jun 30, 2026 | |||
| Insiders | 6.66% | 4.32M shares | |
| 15 holders · as of Aug 19, 2026 | |||
| Strategic holders | 9.82% | 6.38M shares | |
| 1 holder · as of Sep 19, 2025 | |||
| Other | 28.73% | 18.65M shares | |
| remainder | |||
64.92M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Deer Management Co. LLCInstitution | 13.33% | 8.65M | as of Jun 30, 2026 |
Stephens Group, LLCInstitution | 12.01% | 7.80M | as of Jun 30, 2026 |
Lovp Sbic Management Services, LLC1Strategic10 percent owner | 9.82% | 6.38M | filed Sep 19, 2025 |
BlackRock, Inc.Institution | 3.10% | 2.02M | as of Jun 30, 2026 |
Topline Capital Management, LLCInstitution | 2.26% | 1.47M | as of Jun 30, 2026 |
- Reported at 0.10% on Nov 14, 2025, under the 5% line, so no further filing is required.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Melanie Antoon | officer: EVP, Chief Customer Officer | −8,514 | $4.18 |
| Aug 17, 2026 | Karen Herckis | officer: EVP, Chief HR Officer | −8,487 | $4.18 |
| Aug 17, 2026 | Richard Francis Crum | officer: EVP, Chief Prod & Tech Officer | −7,426 | $4.18 |
| Aug 17, 2026 | Susan Garcia | officer: GC & Chief Compliance Officer | −6,840 | $4.18 |
| Aug 10, 2026 | Eric Friedrichsen | director, officer: Chief Executive Officer | +7,500 | $4.26 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CS Disco | $4.12 | −2.14% | $270.0M | — | — | 1.6 | +13.2% |
| OpenText | $22.81 | −1.17% | $5.60B | 5.1 | 5.8 | 0.6 | +0.6% |
| RELX (ADR) | $32.99 | −1.24% | $58.33B | 20.2 | — | 4.5 | +1.0% |
| Thomson Reuters | $94.95 | −0.51% | $41.66B | 25.5 | 20.1 | 5.3 | +7.0% |
| Nexalin Technology | $4.46 | +4.40% | $3.1M | — | — | 14.4 | −82.8% |
| Median | 20.2 | 13.0 | 4.9 | +0.8% |