LAW · CS Disco, Inc.
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Aug 5, 2026TL;DR. DISCO posted 13% year-over-year revenue growth in Q2 to $43.1 million, raised full-year total and software revenue guidance, and announced a new Unified Litigation Solution that extends the platform beyond eDiscovery by integrating case facts with U.S. case law. Adjusted EBITDA remained negative at $(3.4) million, with the company reiterating a path to adjusted EBITDA positive in Q4.
- + Raised full-year total revenue guidance to $172.0M-$179.0M and software revenue guidance to $147.5M-$152.5M.
- + Q2 total revenue grew 13% year-over-year to $43.1M with software revenue up 13% to $36.8M and services revenue up 18% to $6.3M.
- + Large customers generating more than $100,000 over the trailing 12 months grew to 354, representing 77% of revenue and 15% year-on-year growth.
- + DISCO Platform adoption exceeded internal targets, hitting the December 2026 year-end run rate goal by June 2026.
- − Adjusted EBITDA was $(3.4) million in Q2 (negative 8% margin) versus $(2.7) million (negative 7% margin) a year ago.
- − Full-year adjusted EBITDA guidance updated to a range of $(8.0)M to $(5.0)M, still implying a loss for the year despite reiterated Q4 adjusted EBITDA positive target.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | -$3.4M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net loss -8.66M
+596K Depreciation and amortization expense
+135K Income tax provision
-693K Interest and other, net
+5.06M Stock-based compensation expense
+151K Payroll tax expense on employee stock transactions
+0K Expenses associated with stockholder litigation
= Adjusted EBITDA -3.41M
|
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| Large Customers | 354 | Q2 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Software - Application — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
LAW
this stock
CS Disco, Inc.
|
$282.40M | -46.1% | +8.3% | — | 2.3% |
|
QH
QUHUO Ltd
|
$350.35B | +240.7% | +59.7% | — | 0.0% |
|
SAP
Sap SE
|
$243.17B | -14.1% | — | — | 0.4% |
|
CRM
Salesforce, Inc.
|
$191.79B | -11.4% | +25.9% | 21.3 | 3.9% |
|
SHOP
Shopify Inc.
|
$183.03B | -6.0% | +30.1% | 95.5 | 1.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| LAW | -3.9% | -4.4% | +10.6% | +2.0% | -46.1% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | -3.7% | -3.9% | -1.6% | +1.0% | -59.0% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.