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Side-by-side financial comparison of CS Disco, Inc. (LAW) and MFA FINANCIAL, INC. (MFA). Click either name above to swap in a different company.
MFA FINANCIAL, INC. is the larger business by last-quarter revenue ($55.5M vs $41.2M, roughly 1.3× CS Disco, Inc.). On growth, CS Disco, Inc. posted the faster year-over-year revenue change (11.3% vs 9.2%). Over the past eight quarters, MFA FINANCIAL, INC.'s revenue compounded faster (7.7% CAGR vs 7.6%).
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.
MFA Financial, Inc. is a U.S.-headquartered real estate investment trust (REIT) specializing in investing in and managing residential and commercial mortgage-backed securities, mortgage loans, and other real estate-related financial assets. It caters primarily to institutional and individual investors across the U.S., focusing on delivering stable risk-adjusted returns via rigorous asset screening and risk management frameworks.
LAW vs MFA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $41.2M | $55.5M |
| Net Profit | $-8.5M | — |
| Gross Margin | 75.1% | — |
| Operating Margin | -22.4% | 97.9% |
| Net Margin | -20.7% | — |
| Revenue YoY | 11.3% | 9.2% |
| Net Profit YoY | 66.3% | — |
| EPS (diluted) | $-0.13 | $0.43 |
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 | $41.2M | $55.5M | ||
| Q3 25 | $40.9M | $56.8M | ||
| Q2 25 | $38.1M | $61.3M | ||
| Q1 25 | $36.7M | $57.5M | ||
| Q4 24 | $37.0M | $50.8M | ||
| Q3 24 | $36.3M | $50.6M | ||
| Q2 24 | $36.0M | $53.5M | ||
| Q1 24 | $35.6M | $47.8M |
| Q4 25 | $-8.5M | — | ||
| Q3 25 | $-13.7M | $48.1M | ||
| Q2 25 | $-10.8M | $33.2M | ||
| Q1 25 | $-11.4M | $41.2M | ||
| Q4 24 | $-25.2M | — | ||
| Q3 24 | $-9.2M | $48.2M | ||
| Q2 24 | $-10.8M | $41.9M | ||
| Q1 24 | $-10.6M | $23.2M |
| Q4 25 | 75.1% | — | ||
| Q3 25 | 75.5% | — | ||
| Q2 25 | 74.6% | — | ||
| Q1 25 | 74.1% | — | ||
| Q4 24 | 74.2% | — | ||
| Q3 24 | 73.1% | — | ||
| Q2 24 | 74.2% | — | ||
| Q1 24 | 75.1% | — |
| Q4 25 | -22.4% | 97.9% | ||
| Q3 25 | -35.3% | 84.5% | ||
| Q2 25 | -31.0% | 54.5% | ||
| Q1 25 | -34.4% | 70.0% | ||
| Q4 24 | -70.6% | 6.8% | ||
| Q3 24 | -30.0% | 98.2% | ||
| Q2 24 | -34.4% | 79.1% | ||
| Q1 24 | -34.7% | 50.7% |
| Q4 25 | -20.7% | — | ||
| Q3 25 | -33.4% | 84.7% | ||
| Q2 25 | -28.4% | 54.2% | ||
| Q1 25 | -31.1% | 71.6% | ||
| Q4 24 | -68.1% | — | ||
| Q3 24 | -25.3% | 95.2% | ||
| Q2 24 | -30.1% | 78.4% | ||
| Q1 24 | -29.7% | 48.5% |
| Q4 25 | $-0.13 | $0.43 | ||
| Q3 25 | $-0.22 | $0.35 | ||
| Q2 25 | $-0.18 | $0.21 | ||
| Q1 25 | $-0.19 | $0.31 | ||
| Q4 24 | $-0.43 | $-0.01 | ||
| Q3 24 | $-0.15 | $0.37 | ||
| Q2 24 | $-0.18 | $0.32 | ||
| Q1 24 | $-0.17 | $0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $114.6M | $213.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $128.1M | $1.8B |
| Total Assets | $173.6M | $13.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $114.6M | $213.2M | ||
| Q3 25 | $113.5M | $305.2M | ||
| Q2 25 | $114.5M | $275.7M | ||
| Q1 25 | $118.8M | $253.7M | ||
| Q4 24 | $129.1M | $338.9M | ||
| Q3 24 | $126.8M | $305.6M | ||
| Q2 24 | $130.0M | $289.4M | ||
| Q1 24 | $148.7M | $306.3M |
| Q4 25 | $128.1M | $1.8B | ||
| Q3 25 | $130.6M | $1.8B | ||
| Q2 25 | $137.9M | $1.8B | ||
| Q1 25 | $142.2M | $1.8B | ||
| Q4 24 | $147.5M | $1.8B | ||
| Q3 24 | $167.3M | $1.9B | ||
| Q2 24 | $170.9M | $1.9B | ||
| Q1 24 | $193.2M | $1.9B |
| Q4 25 | $173.6M | $13.0B | ||
| Q3 25 | $174.8M | $12.1B | ||
| Q2 25 | $164.9M | $11.7B | ||
| Q1 25 | $168.0M | $11.5B | ||
| Q4 24 | $180.3M | $11.4B | ||
| Q3 24 | $194.4M | $11.2B | ||
| Q2 24 | $198.0M | $11.1B | ||
| Q1 24 | $217.3M | $10.9B |
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 | $762.0K | $76.2M |
| Free Cash FlowOCF − Capex | $255.0K | — |
| FCF MarginFCF / Revenue | 0.6% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-18.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $762.0K | $76.2M | ||
| Q3 25 | $-979.0K | $14.7M | ||
| Q2 25 | $-4.2M | $38.5M | ||
| Q1 25 | $-10.5M | $-14.6M | ||
| Q4 24 | $2.1M | $200.1M | ||
| Q3 24 | $-2.9M | $-11.3M | ||
| Q2 24 | $-650.0K | $46.5M | ||
| Q1 24 | $-7.3M | $53.5M |
| Q4 25 | $255.0K | — | ||
| Q3 25 | $-2.0M | — | ||
| Q2 25 | $-5.2M | — | ||
| Q1 25 | $-11.0M | — | ||
| Q4 24 | $1.5M | — | ||
| Q3 24 | $-3.7M | — | ||
| Q2 24 | $-1.3M | — | ||
| Q1 24 | $-8.0M | — |
| Q4 25 | 0.6% | — | ||
| Q3 25 | -5.0% | — | ||
| Q2 25 | -13.6% | — | ||
| Q1 25 | -30.1% | — | ||
| Q4 24 | 4.1% | — | ||
| Q3 24 | -10.3% | — | ||
| Q2 24 | -3.6% | — | ||
| Q1 24 | -22.5% | — |
| Q4 25 | 1.2% | — | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 1.4% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 1.9% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.23× | ||
| Q2 24 | — | 1.11× | ||
| Q1 24 | — | 2.30× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LAW
| Software | $35.1M | 85% |
| Services | $6.0M | 15% |
MFA
Segment breakdown not available.
