Filing Flows › CS Disco (LAW) › Q3 2025
CS Disco (LAW) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
CS Disco (LAW) reported revenue of $40.9M for the third quarter 2025 (Q3 2025), +13% from a year earlier and +7% from the quarter before. Operating margin was -35.3%, net loss $13.7M (33.4% of revenue).
CS Disco, Q3 2025: revenue $40.9M (+13% year over year), operating margin -35.3%, net loss $13.7M, operating cash flow −$979K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $40.9M | +7% | +13% |
| Operating profit | −$14.5M | — | — |
| Net earnings | −$13.7M | — | — |
| Operating cash flow | −$979K | — | — |
What changed
Revenue was $40.9M in Q3 2025, up 13% year over year and up 7% from the previous quarter. Software was the largest line at 86% of revenue. Software added $5.1M year over year (up 17%), 109% of the total change. Services declined 7%.
Gross margin was 75.5%, up 2.4 points from a year earlier. Operating costs exceeded revenue by $14.5M, an operating margin of -35.3%. Operating expenses grew 21% against revenue growth of 13%. The fastest-growing cost line was General & admin (+75%). The quarter ended with a net loss of $13.7M, wider than the previous quarter's $10.8M loss.
Operating cash flow was −$1.0M. Non-cash charges added back $902K of depreciation and amortization and $6.1M of share-based compensation. Working capital and other items added $5.7M. Capital expenditures of $1.1M exceeded it, leaving free cash flow of −$2.0M.
Questions
What was CS Disco's revenue in the third quarter 2025?
CS Disco (LAW) reported revenue of $40.9M for the third quarter 2025 (Q3 2025), +13% from a year earlier and +7% from the quarter before.
Was CS Disco profitable in the third quarter 2025?
Operating loss was $14.5M (-35.3% of revenue) and net loss $13.7M.
Source: CS Disco 10-Q on SEC EDGAR.