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Side-by-side financial comparison of CS Disco, Inc. (LAW) and NaaS Technology Inc. (NAAS). Click either name above to swap in a different company.
CS Disco, Inc. is the larger business by last-quarter revenue ($41.2M vs $25.9M, roughly 1.6× NaaS Technology Inc.). CS Disco, Inc. runs the higher net margin — -20.7% vs -193.3%, a 172.6% gap on every dollar of revenue. On growth, NaaS Technology Inc. posted the faster year-over-year revenue change (121.2% vs 11.3%).
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.
NaaS Technology Inc. is a leading electric vehicle energy service provider based in China. It delivers one-stop solutions covering charging network operation, software and hardware support for charging station operators, and value-added services such as charging location search and payment for EV owners, serving both enterprise and individual customers across domestic and select overseas markets.
LAW vs NAAS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2024
| Metric | | |
|---|---|---|
| Revenue | $41.2M | $25.9M |
| Net Profit | $-8.5M | $-50.0M |
| Gross Margin | 75.1% | 29.2% |
| Operating Margin | -22.4% | -144.2% |
| Net Margin | -20.7% | -193.3% |
| Revenue YoY | 11.3% | 121.2% |
| Net Profit YoY | 66.3% | 18.4% |
| EPS (diluted) | $-0.13 | $-0.02 |
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 | — | ||
| Q3 25 | $40.9M | — | ||
| Q2 25 | $38.1M | — | ||
| Q1 25 | $36.7M | — | ||
| Q4 24 | $37.0M | — | ||
| Q3 24 | $36.3M | — | ||
| Q2 24 | $36.0M | $25.9M | ||
| Q1 24 | $35.6M | — |
| Q4 25 | $-8.5M | — | ||
| Q3 25 | $-13.7M | — | ||
| Q2 25 | $-10.8M | — | ||
| Q1 25 | $-11.4M | — | ||
| Q4 24 | $-25.2M | — | ||
| Q3 24 | $-9.2M | — | ||
| Q2 24 | $-10.8M | $-50.0M | ||
| Q1 24 | $-10.6M | — |
| 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% | 29.2% | ||
| Q1 24 | 75.1% | — |
| Q4 25 | -22.4% | — | ||
| Q3 25 | -35.3% | — | ||
| Q2 25 | -31.0% | — | ||
| Q1 25 | -34.4% | — | ||
| Q4 24 | -70.6% | — | ||
| Q3 24 | -30.0% | — | ||
| Q2 24 | -34.4% | -144.2% | ||
| Q1 24 | -34.7% | — |
| Q4 25 | -20.7% | — | ||
| Q3 25 | -33.4% | — | ||
| Q2 25 | -28.4% | — | ||
| Q1 25 | -31.1% | — | ||
| Q4 24 | -68.1% | — | ||
| Q3 24 | -25.3% | — | ||
| Q2 24 | -30.1% | -193.3% | ||
| Q1 24 | -29.7% | — |
| Q4 25 | $-0.13 | — | ||
| Q3 25 | $-0.22 | — | ||
| Q2 25 | $-0.18 | — | ||
| Q1 25 | $-0.19 | — | ||
| Q4 24 | $-0.43 | — | ||
| Q3 24 | $-0.15 | — | ||
| Q2 24 | $-0.18 | $-0.02 | ||
| 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 | $114.6M | $24.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $128.1M | $-33.4M |
| Total Assets | $173.6M | $180.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $114.6M | — | ||
| Q3 25 | $113.5M | — | ||
| Q2 25 | $114.5M | — | ||
| Q1 25 | $118.8M | — | ||
| Q4 24 | $129.1M | — | ||
| Q3 24 | $126.8M | — | ||
| Q2 24 | $130.0M | $24.7M | ||
| Q1 24 | $148.7M | — |
| Q4 25 | $128.1M | — | ||
| Q3 25 | $130.6M | — | ||
| Q2 25 | $137.9M | — | ||
| Q1 25 | $142.2M | — | ||
| Q4 24 | $147.5M | — | ||
| Q3 24 | $167.3M | — | ||
| Q2 24 | $170.9M | $-33.4M | ||
| Q1 24 | $193.2M | — |
| Q4 25 | $173.6M | — | ||
| Q3 25 | $174.8M | — | ||
| Q2 25 | $164.9M | — | ||
| Q1 25 | $168.0M | — | ||
| Q4 24 | $180.3M | — | ||
| Q3 24 | $194.4M | — | ||
| Q2 24 | $198.0M | $180.2M | ||
| 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 | $762.0K | $-25.7M |
| 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 | — | ||
| Q3 25 | $-979.0K | — | ||
| Q2 25 | $-4.2M | — | ||
| Q1 25 | $-10.5M | — | ||
| Q4 24 | $2.1M | — | ||
| Q3 24 | $-2.9M | — | ||
| Q2 24 | $-650.0K | $-25.7M | ||
| Q1 24 | $-7.3M | — |
| 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% | — |
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% |
NAAS
Segment breakdown not available.
