CS Disco, Inc. (NYSE: LAW)

DISCO provides cloud native artificial intelligence powered legal product offerings that simplify legal hold, legal request, ediscovery, legal document review and case management for enterprises, law firms, legal services providers and governments. The company's scalable integrated platform enables legal departments to collect, process and review enterprise data that is relevant or potentially relevant to legal matters. By automating manual, time consuming and error prone parts of legal workflows, DISCO empowers lawyers to focus on delivering better legal outcomes.

DISCO generates revenue primarily through a usage based subscription model for its cloud native AI powered software products, which include DISCO Hold, DISCO Request, DISCO Ediscovery, DISCO Review and DISCO Case Builder. The company also offers professional services and support that complement its software offerings and help customers deploy and use the platform effectively. Revenue is recognized as customers increase their usage of the platform, expand across product offerings and adopt additional modules, creating a product led growth engine that drives higher usage and retention. As of December 31, 2025, the company reported a dollar based net retention rate of 98%, indicating strong expansion within its existing customer base. Less than 10% of revenue was generated from customers outside the United States in the same period.

DISCO operates in a competitive legal technology market that includes established legal services providers, legacy on premise software vendors and cloud based competitors. Key legal services competitors consist of Consilio LLC, Epiq Systems Inc., KLDiscovery Inc., and the legal services divisions of Deloitte & Touche LLP, Ernst and Young LLP, KPMG LLP and PricewaterhouseCoopers LLP. Legacy on premise competitors include Nuix Limited, Open Text Corporation, Relativity ODA LLC, RELX PLC and Thomson Reuters Corporation. Cloud based competitors comprise Everlaw Inc., Relativity through its RelativityOne offering and Reveal Data Corporation. The company believes it competes favorably on factors such as user satisfaction, ease of deployment, scalability, reliability, security, breadth of offering, product features, accuracy and speed of review, ability to connect multiple stakeholders, quality of AI, support services, brand reputation and cost predictability.

As of December 31, 2025, DISCO had 1,549 customers comprising enterprises across various industries, law firms, legal services providers and governmental organizations. Of these customers, 330 are classified as large customers, each having generated more than $100,000 in revenue over the prior twelve months. The company's customer base is diverse, with no single customer accounting for more than 10% of total revenue. Less than 10% of DISCO's revenue came from customers outside the United States during the year ended December 31, 2025.