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Side-by-side financial comparison of CS Disco, Inc. (LAW) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
Target Hospitality Corp. is the larger business by last-quarter revenue ($73.5M vs $41.2M, roughly 1.8× CS Disco, Inc.). Target Hospitality Corp. runs the higher net margin — -20.3% vs -20.7%, a 0.3% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 11.3%). Over the past eight quarters, CS Disco, Inc.'s revenue compounded faster (7.6% CAGR vs 0.7%).
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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
LAW vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $41.2M | $73.5M |
| Net Profit | $-8.5M | $-14.9M |
| Gross Margin | 75.1% | 9.6% |
| Operating Margin | -22.4% | -22.9% |
| Net Margin | -20.7% | -20.3% |
| Revenue YoY | 11.3% | 22.0% |
| Net Profit YoY | 66.3% | -219.1% |
| EPS (diluted) | $-0.13 | $-0.14 |
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 | $73.5M | ||
| Q3 25 | $40.9M | $91.6M | ||
| Q2 25 | $38.1M | $54.9M | ||
| Q1 25 | $36.7M | $54.9M | ||
| Q4 24 | $37.0M | $60.2M | ||
| Q3 24 | $36.3M | $65.8M | ||
| Q2 24 | $36.0M | $67.5M | ||
| Q1 24 | $35.6M | $72.4M |
| Q4 25 | $-8.5M | $-14.9M | ||
| Q3 25 | $-13.7M | $-795.0K | ||
| Q2 25 | $-10.8M | $-14.9M | ||
| Q1 25 | $-11.4M | $-6.5M | ||
| Q4 24 | $-25.2M | $12.5M | ||
| Q3 24 | $-9.2M | $20.0M | ||
| Q2 24 | $-10.8M | $18.4M | ||
| Q1 24 | $-10.6M | $20.4M |
| Q4 25 | 75.1% | 9.6% | ||
| Q3 25 | 75.5% | 19.6% | ||
| Q2 25 | 74.6% | -0.6% | ||
| Q1 25 | 74.1% | 32.7% | ||
| Q4 24 | 74.2% | 61.5% | ||
| Q3 24 | 73.1% | 68.7% | ||
| Q2 24 | 74.2% | 69.4% | ||
| Q1 24 | 75.1% | 67.8% |
| Q4 25 | -22.4% | -22.9% | ||
| Q3 25 | -35.3% | 0.1% | ||
| Q2 25 | -31.0% | -30.8% | ||
| Q1 25 | -34.4% | -2.0% | ||
| Q4 24 | -70.6% | 34.5% | ||
| Q3 24 | -30.0% | 42.5% | ||
| Q2 24 | -34.4% | 43.8% | ||
| Q1 24 | -34.7% | 42.0% |
| Q4 25 | -20.7% | -20.3% | ||
| Q3 25 | -33.4% | -0.9% | ||
| Q2 25 | -28.4% | -27.2% | ||
| Q1 25 | -31.1% | -11.8% | ||
| Q4 24 | -68.1% | 20.8% | ||
| Q3 24 | -25.3% | 30.4% | ||
| Q2 24 | -30.1% | 27.2% | ||
| Q1 24 | -29.7% | 28.2% |
| Q4 25 | $-0.13 | $-0.14 | ||
| Q3 25 | $-0.22 | $-0.01 | ||
| Q2 25 | $-0.18 | $-0.15 | ||
| Q1 25 | $-0.19 | $-0.07 | ||
| Q4 24 | $-0.43 | $0.12 | ||
| Q3 24 | $-0.15 | $0.20 | ||
| Q2 24 | $-0.18 | $0.18 | ||
| Q1 24 | $-0.17 | $0.20 |
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 | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $128.1M | $389.3M |
| Total Assets | $173.6M | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $114.6M | $8.3M | ||
| Q3 25 | $113.5M | $30.4M | ||
| Q2 25 | $114.5M | $19.2M | ||
| Q1 25 | $118.8M | $34.5M | ||
| Q4 24 | $129.1M | $190.7M | ||
| Q3 24 | $126.8M | $177.7M | ||
| Q2 24 | $130.0M | $154.3M | ||
| Q1 24 | $148.7M | $124.3M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $128.1M | $389.3M | ||
| Q3 25 | $130.6M | $402.4M | ||
| Q2 25 | $137.9M | $401.3M | ||
| Q1 25 | $142.2M | $415.3M | ||
| Q4 24 | $147.5M | $421.1M | ||
| Q3 24 | $167.3M | $417.6M | ||
| Q2 24 | $170.9M | $397.2M | ||
| Q1 24 | $193.2M | $375.5M |
| Q4 25 | $173.6M | $530.2M | ||
| Q3 25 | $174.8M | $541.2M | ||
| Q2 25 | $164.9M | $533.7M | ||
| Q1 25 | $168.0M | $562.5M | ||
| Q4 24 | $180.3M | $725.8M | ||
| Q3 24 | $194.4M | $709.8M | ||
| Q2 24 | $198.0M | $697.0M | ||
| Q1 24 | $217.3M | $687.2M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
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 | $5.7M |
| 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 | $5.7M | ||
| Q3 25 | $-979.0K | $53.4M | ||
| Q2 25 | $-4.2M | $11.1M | ||
| Q1 25 | $-10.5M | $3.9M | ||
| Q4 24 | $2.1M | $30.6M | ||
| Q3 24 | $-2.9M | $31.4M | ||
| Q2 24 | $-650.0K | $39.1M | ||
| Q1 24 | $-7.3M | $50.6M |
| Q4 25 | $255.0K | — | ||
| Q3 25 | $-2.0M | — | ||
| Q2 25 | $-5.2M | — | ||
| Q1 25 | $-11.0M | $-11.6M | ||
| 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% | -21.1% | ||
| 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% | 28.2% | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 1.9% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | 2.48× |
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% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
