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Side-by-side financial comparison of ImmunityBio, Inc. (IBRX) and CS Disco, Inc. (LAW). Click either name above to swap in a different company.
CS Disco, Inc. is the larger business by last-quarter revenue ($41.2M vs $38.3M, roughly 1.1× ImmunityBio, Inc.). CS Disco, Inc. runs the higher net margin — -20.7% vs -161.8%, a 141.1% gap on every dollar of revenue. On growth, ImmunityBio, Inc. posted the faster year-over-year revenue change (407.0% vs 11.3%). CS Disco, Inc. produced more free cash flow last quarter ($255.0K vs $-71.3M).
ImmunityBio, Inc. is a clinical-stage biotechnology company focused on developing next-generation immunotherapies and vaccine candidates targeting multiple cancer types and infectious diseases. It operates mainly in the U.S. market, with core R&D segments including cell therapy, antibody therapeutics, and targeted vaccine platforms designed to enhance patient treatment outcomes.
CS Disco, Inc. is a leading legal technology provider that develops cloud-based software solutions for legal practitioners. Its core offerings include e-discovery, document review, case management, and legal workflow automation tools, serving law firms, corporate legal teams, and government legal departments primarily in North America.
IBRX vs LAW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.3M | $41.2M |
| Net Profit | $-61.9M | $-8.5M |
| Gross Margin | 99.0% | 75.1% |
| Operating Margin | -169.0% | -22.4% |
| Net Margin | -161.8% | -20.7% |
| Revenue YoY | 407.0% | 11.3% |
| Net Profit YoY | -4.7% | 66.3% |
| EPS (diluted) | $-0.06 | $-0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $38.3M | $41.2M | ||
| Q3 25 | $32.1M | $40.9M | ||
| Q2 25 | $26.4M | $38.1M | ||
| Q1 25 | $16.5M | $36.7M | ||
| Q4 24 | $7.6M | $37.0M | ||
| Q3 24 | $6.1M | $36.3M | ||
| Q2 24 | — | $36.0M | ||
| Q1 24 | — | $35.6M |
| Q4 25 | $-61.9M | $-8.5M | ||
| Q3 25 | $-67.3M | $-13.7M | ||
| Q2 25 | $-92.6M | $-10.8M | ||
| Q1 25 | $-129.6M | $-11.4M | ||
| Q4 24 | $-59.2M | $-25.2M | ||
| Q3 24 | $-85.7M | $-9.2M | ||
| Q2 24 | — | $-10.8M | ||
| Q1 24 | — | $-10.6M |
| Q4 25 | 99.0% | 75.1% | ||
| Q3 25 | 99.4% | 75.5% | ||
| Q2 25 | 99.5% | 74.6% | ||
| Q1 25 | 99.6% | 74.1% | ||
| Q4 24 | — | 74.2% | ||
| Q3 24 | — | 73.1% | ||
| Q2 24 | — | 74.2% | ||
| Q1 24 | — | 75.1% |
| Q4 25 | -169.0% | -22.4% | ||
| Q3 25 | -173.5% | -35.3% | ||
| Q2 25 | -269.8% | -31.0% | ||
| Q1 25 | -390.1% | -34.4% | ||
| Q4 24 | -919.0% | -70.6% | ||
| Q3 24 | -1314.3% | -30.0% | ||
| Q2 24 | — | -34.4% | ||
| Q1 24 | — | -34.7% |
| Q4 25 | -161.8% | -20.7% | ||
| Q3 25 | -209.8% | -33.4% | ||
| Q2 25 | -350.3% | -28.4% | ||
| Q1 25 | -784.9% | -31.1% | ||
| Q4 24 | -783.4% | -68.1% | ||
| Q3 24 | -1404.0% | -25.3% | ||
| Q2 24 | — | -30.1% | ||
| Q1 24 | — | -29.7% |
| Q4 25 | $-0.06 | $-0.13 | ||
| Q3 25 | $-0.07 | $-0.22 | ||
| Q2 25 | $-0.10 | $-0.18 | ||
| Q1 25 | $-0.15 | $-0.19 | ||
| Q4 24 | $-0.08 | $-0.43 | ||
| Q3 24 | $-0.14 | $-0.15 | ||
| Q2 24 | — | $-0.18 | ||
| Q1 24 | — | $-0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $242.8M | $114.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-500.5M | $128.1M |
| Total Assets | $501.9M | $173.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $242.8M | $114.6M | ||
| Q3 25 | $257.8M | $113.5M | ||
| Q2 25 | $153.7M | $114.5M | ||
| Q1 25 | $61.6M | $118.8M | ||
| Q4 24 | $149.8M | $129.1M | ||
| Q3 24 | $130.4M | $126.8M | ||
| Q2 24 | — | $130.0M | ||
| Q1 24 | — | $148.7M |
| Q4 25 | $-500.5M | $128.1M | ||
| Q3 25 | $-524.3M | $130.6M | ||
| Q2 25 | $-570.7M | $137.9M | ||
| Q1 25 | $-591.4M | $142.2M | ||
| Q4 24 | $-489.1M | $147.5M | ||
| Q3 24 | $-745.1M | $167.3M | ||
| Q2 24 | — | $170.9M | ||
| Q1 24 | — | $193.2M |
| Q4 25 | $501.9M | $173.6M | ||
| Q3 25 | $519.0M | $174.8M | ||
| Q2 25 | $402.1M | $164.9M | ||
| Q1 25 | $303.8M | $168.0M | ||
| Q4 24 | $382.9M | $180.3M | ||
| Q3 24 | $364.6M | $194.4M | ||
| Q2 24 | — | $198.0M | ||
| Q1 24 | — | $217.3M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-70.4M | $762.0K |
| Free Cash FlowOCF − Capex | $-71.3M | $255.0K |
| FCF MarginFCF / Revenue | -186.2% | 0.6% |
| Capex IntensityCapex / Revenue | 2.4% | 1.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-308.8M | $-18.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-70.4M | $762.0K | ||
| Q3 25 | $-68.9M | $-979.0K | ||
| Q2 25 | $-79.7M | $-4.2M | ||
| Q1 25 | $-85.9M | $-10.5M | ||
| Q4 24 | $-85.1M | $2.1M | ||
| Q3 24 | $-98.8M | $-2.9M | ||
| Q2 24 | — | $-650.0K | ||
| Q1 24 | — | $-7.3M |
| Q4 25 | $-71.3M | $255.0K | ||
| Q3 25 | $-69.6M | $-2.0M | ||
| Q2 25 | $-80.8M | $-5.2M | ||
| Q1 25 | $-87.0M | $-11.0M | ||
| Q4 24 | $-87.3M | $1.5M | ||
| Q3 24 | $-101.6M | $-3.7M | ||
| Q2 24 | — | $-1.3M | ||
| Q1 24 | — | $-8.0M |
| Q4 25 | -186.2% | 0.6% | ||
| Q3 25 | -217.2% | -5.0% | ||
| Q2 25 | -305.9% | -13.6% | ||
| Q1 25 | -526.9% | -30.1% | ||
| Q4 24 | -1155.4% | 4.1% | ||
| Q3 24 | -1663.2% | -10.3% | ||
| Q2 24 | — | -3.6% | ||
| Q1 24 | — | -22.5% |
| Q4 25 | 2.4% | 1.2% | ||
| Q3 25 | 2.3% | 2.6% | ||
| Q2 25 | 4.1% | 2.5% | ||
| Q1 25 | 6.8% | 1.4% | ||
| Q4 24 | 28.0% | 1.5% | ||
| Q3 24 | 45.7% | 2.4% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 1.9% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBRX
Segment breakdown not available.
LAW
| Software | $35.1M | 85% |
| Services | $6.0M | 15% |
