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Side-by-side financial comparison of CS Disco, Inc. (LAW) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
CS Disco, Inc. is the larger business by last-quarter revenue ($41.2M vs $33.9M, roughly 1.2× Spok Holdings, Inc). Spok Holdings, Inc runs the higher net margin — 8.7% vs -20.7%, a 29.3% gap on every dollar of revenue. On growth, CS Disco, Inc. posted the faster year-over-year revenue change (11.3% vs -0.1%). Spok Holdings, Inc produced more free cash flow last quarter ($10.1M vs $255.0K). Over the past eight quarters, CS Disco, Inc.'s revenue compounded faster (7.6% CAGR vs -1.5%).
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.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
LAW vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $41.2M | $33.9M |
| Net Profit | $-8.5M | $2.9M |
| Gross Margin | 75.1% | 76.7% |
| Operating Margin | -22.4% | 11.6% |
| Net Margin | -20.7% | 8.7% |
| Revenue YoY | 11.3% | -0.1% |
| Net Profit YoY | 66.3% | -19.6% |
| EPS (diluted) | $-0.13 | $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 | $41.2M | $33.9M | ||
| Q3 25 | $40.9M | $33.9M | ||
| Q2 25 | $38.1M | $35.7M | ||
| Q1 25 | $36.7M | $36.3M | ||
| Q4 24 | $37.0M | $33.9M | ||
| Q3 24 | $36.3M | $34.9M | ||
| Q2 24 | $36.0M | $34.0M | ||
| Q1 24 | $35.6M | $34.9M |
| Q4 25 | $-8.5M | $2.9M | ||
| Q3 25 | $-13.7M | $3.2M | ||
| Q2 25 | $-10.8M | $4.6M | ||
| Q1 25 | $-11.4M | $5.2M | ||
| Q4 24 | $-25.2M | $3.6M | ||
| Q3 24 | $-9.2M | $3.7M | ||
| Q2 24 | $-10.8M | $3.4M | ||
| Q1 24 | $-10.6M | $4.2M |
| Q4 25 | 75.1% | 76.7% | ||
| Q3 25 | 75.5% | 78.3% | ||
| Q2 25 | 74.6% | 79.5% | ||
| Q1 25 | 74.1% | 80.1% | ||
| Q4 24 | 74.2% | 78.5% | ||
| Q3 24 | 73.1% | 79.5% | ||
| Q2 24 | 74.2% | 78.9% | ||
| Q1 24 | 75.1% | 79.5% |
| Q4 25 | -22.4% | 11.6% | ||
| Q3 25 | -35.3% | 12.9% | ||
| Q2 25 | -31.0% | 15.1% | ||
| Q1 25 | -34.4% | 16.6% | ||
| Q4 24 | -70.6% | 13.7% | ||
| Q3 24 | -30.0% | 14.2% | ||
| Q2 24 | -34.4% | 13.2% | ||
| Q1 24 | -34.7% | 14.0% |
| Q4 25 | -20.7% | 8.7% | ||
| Q3 25 | -33.4% | 9.5% | ||
| Q2 25 | -28.4% | 12.8% | ||
| Q1 25 | -31.1% | 14.3% | ||
| Q4 24 | -68.1% | 10.8% | ||
| Q3 24 | -25.3% | 10.5% | ||
| Q2 24 | -30.1% | 10.1% | ||
| Q1 24 | -29.7% | 12.1% |
| Q4 25 | $-0.13 | $0.13 | ||
| Q3 25 | $-0.22 | $0.15 | ||
| Q2 25 | $-0.18 | $0.22 | ||
| Q1 25 | $-0.19 | $0.25 | ||
| Q4 24 | $-0.43 | $0.17 | ||
| Q3 24 | $-0.15 | $0.18 | ||
| Q2 24 | $-0.18 | $0.17 | ||
| Q1 24 | $-0.17 | $0.21 |
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 | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $128.1M | $146.4M |
| Total Assets | $173.6M | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $114.6M | $25.3M | ||
| Q3 25 | $113.5M | $21.4M | ||
| Q2 25 | $114.5M | $20.2M | ||
| Q1 25 | $118.8M | $19.9M | ||
| Q4 24 | $129.1M | $29.1M | ||
| Q3 24 | $126.8M | $27.8M | ||
| Q2 24 | $130.0M | $23.9M | ||
| Q1 24 | $148.7M | $23.3M |
| Q4 25 | $128.1M | $146.4M | ||
| Q3 25 | $130.6M | $148.7M | ||
| Q2 25 | $137.9M | $150.9M | ||
| Q1 25 | $142.2M | $151.7M | ||
| Q4 24 | $147.5M | $154.7M | ||
| Q3 24 | $167.3M | $156.3M | ||
| Q2 24 | $170.9M | $158.2M | ||
| Q1 24 | $193.2M | $160.2M |
| Q4 25 | $173.6M | $206.1M | ||
| Q3 25 | $174.8M | $209.7M | ||
| Q2 25 | $164.9M | $208.7M | ||
| Q1 25 | $168.0M | $204.5M | ||
| Q4 24 | $180.3M | $217.1M | ||
| Q3 24 | $194.4M | $216.8M | ||
| Q2 24 | $198.0M | $216.4M | ||
| Q1 24 | $217.3M | $215.0M |
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 | $11.5M |
| Free Cash FlowOCF − Capex | $255.0K | $10.1M |
| FCF MarginFCF / Revenue | 0.6% | 29.9% |
| Capex IntensityCapex / Revenue | 1.2% | 4.1% |
| Cash ConversionOCF / Net Profit | — | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | $-18.0M | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $762.0K | $11.5M | ||
| Q3 25 | $-979.0K | $8.1M | ||
| Q2 25 | $-4.2M | $7.0M | ||
| Q1 25 | $-10.5M | $2.3M | ||
| Q4 24 | $2.1M | $8.4M | ||
| Q3 24 | $-2.9M | $11.1M | ||
| Q2 24 | $-650.0K | $7.4M | ||
| Q1 24 | $-7.3M | $2.0M |
| Q4 25 | $255.0K | $10.1M | ||
| Q3 25 | $-2.0M | $7.6M | ||
| Q2 25 | $-5.2M | $6.0M | ||
| Q1 25 | $-11.0M | $1.5M | ||
| Q4 24 | $1.5M | $7.5M | ||
| Q3 24 | $-3.7M | $10.3M | ||
| Q2 24 | $-1.3M | $6.8M | ||
| Q1 24 | $-8.0M | $1.1M |
| Q4 25 | 0.6% | 29.9% | ||
| Q3 25 | -5.0% | 22.4% | ||
| Q2 25 | -13.6% | 16.8% | ||
| Q1 25 | -30.1% | 4.2% | ||
| Q4 24 | 4.1% | 22.3% | ||
| Q3 24 | -10.3% | 29.4% | ||
| Q2 24 | -3.6% | 20.0% | ||
| Q1 24 | -22.5% | 3.2% |
| Q4 25 | 1.2% | 4.1% | ||
| Q3 25 | 2.6% | 1.6% | ||
| Q2 25 | 2.5% | 2.9% | ||
| Q1 25 | 1.4% | 2.1% | ||
| Q4 24 | 1.5% | 2.5% | ||
| Q3 24 | 2.4% | 2.4% | ||
| Q2 24 | 1.8% | 1.9% | ||
| Q1 24 | 1.9% | 2.5% |
| Q4 25 | — | 3.93× | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | — | 1.55× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 3.03× | ||
| Q2 24 | — | 2.17× | ||
| Q1 24 | — | 0.47× |
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% |
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
