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Side-by-side financial comparison of CS Disco, Inc. (LAW) and TPG RE Finance Trust, Inc. (TRTX). Click either name above to swap in a different company.
CS Disco, Inc. is the larger business by last-quarter revenue ($41.9M vs $35.0M, roughly 1.2× TPG RE Finance Trust, Inc.). TPG RE Finance Trust, Inc. runs the higher net margin — 15.6% vs -23.0%, a 38.6% gap on every dollar of revenue. On growth, CS Disco, Inc. posted the faster year-over-year revenue change (14.3% vs 0.9%). Over the past eight quarters, CS Disco, Inc.'s revenue compounded faster (7.9% CAGR vs -5.1%).
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.
TPG RE Finance Trust, Inc. is a commercial real estate finance firm primarily operating in the United States. It originates, underwrites and manages a portfolio of senior commercial mortgage loans and other real estate-linked debt instruments, serving commercial property owners and investors across multifamily, industrial, office and retail property segments.
LAW vs TRTX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $41.9M | $35.0M |
| Net Profit | $-9.6M | $4.0M |
| Gross Margin | 74.2% | — |
| Operating Margin | 1.7% | 11.6% |
| Net Margin | -23.0% | 15.6% |
| Revenue YoY | 14.3% | 0.9% |
| Net Profit YoY | 15.6% | -62.8% |
| EPS (diluted) | $-0.15 | $0.01 |
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.
| Q1 26 | $41.9M | — | ||
| Q4 25 | $41.2M | $35.0M | ||
| Q3 25 | $40.9M | $37.8M | ||
| Q2 25 | $38.1M | $36.2M | ||
| Q1 25 | $36.7M | $37.0M | ||
| Q4 24 | $37.0M | $34.7M | ||
| Q3 24 | $36.3M | $40.1M | ||
| Q2 24 | $36.0M | $39.3M |
| Q1 26 | $-9.6M | — | ||
| Q4 25 | $-8.5M | $4.0M | ||
| Q3 25 | $-13.7M | $22.0M | ||
| Q2 25 | $-10.8M | $20.6M | ||
| Q1 25 | $-11.4M | $13.7M | ||
| Q4 24 | $-25.2M | $10.7M | ||
| Q3 24 | $-9.2M | $22.2M | ||
| Q2 24 | $-10.8M | $24.7M |
| Q1 26 | 74.2% | — | ||
| 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 26 | 1.7% | — | ||
| Q4 25 | -22.4% | 11.6% | ||
| Q3 25 | -35.3% | 58.4% | ||
| Q2 25 | -31.0% | 57.3% | ||
| Q1 25 | -34.4% | 37.2% | ||
| Q4 24 | -70.6% | 30.3% | ||
| Q3 24 | -30.0% | 55.4% | ||
| Q2 24 | -34.4% | 63.1% |
| Q1 26 | -23.0% | — | ||
| Q4 25 | -20.7% | 15.6% | ||
| Q3 25 | -33.4% | 58.1% | ||
| Q2 25 | -28.4% | 57.0% | ||
| Q1 25 | -31.1% | 37.0% | ||
| Q4 24 | -68.1% | 43.3% | ||
| Q3 24 | -25.3% | 55.3% | ||
| Q2 24 | -30.1% | 62.9% |
| Q1 26 | $-0.15 | — | ||
| Q4 25 | $-0.13 | $0.01 | ||
| Q3 25 | $-0.22 | $0.23 | ||
| Q2 25 | $-0.18 | $0.21 | ||
| Q1 25 | $-0.19 | $0.12 | ||
| Q4 24 | $-0.43 | $0.09 | ||
| Q3 24 | $-0.15 | $0.23 | ||
| Q2 24 | $-0.18 | $0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $103.0M | $87.6M |
| Total DebtLower is stronger | — | $3.3B |
| Stockholders' EquityBook value | $123.9M | $1.1B |
| Total Assets | $162.4M | $4.4B |
| Debt / EquityLower = less leverage | — | 3.10× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $103.0M | — | ||
| Q4 25 | $114.6M | $87.6M | ||
| Q3 25 | $113.5M | $93.6M | ||
| Q2 25 | $114.5M | $165.8M | ||
| Q1 25 | $118.8M | $363.0M | ||
| Q4 24 | $129.1M | $190.2M | ||
| Q3 24 | $126.8M | $226.3M | ||
| Q2 24 | $130.0M | $259.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B |
| Q1 26 | $123.9M | — | ||
| Q4 25 | $128.1M | $1.1B | ||
| Q3 25 | $130.6M | $1.1B | ||
| Q2 25 | $137.9M | $1.1B | ||
| Q1 25 | $142.2M | $1.1B | ||
| Q4 24 | $147.5M | $1.1B | ||
| Q3 24 | $167.3M | $1.1B | ||
| Q2 24 | $170.9M | $1.1B |
| Q1 26 | $162.4M | — | ||
| Q4 25 | $173.6M | $4.4B | ||
| Q3 25 | $174.8M | $4.1B | ||
| Q2 25 | $164.9M | $4.2B | ||
| Q1 25 | $168.0M | $4.0B | ||
| Q4 24 | $180.3M | $3.7B | ||
| Q3 24 | $194.4M | $3.7B | ||
| Q2 24 | $198.0M | $3.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.10× | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 2.78× | ||
| Q1 25 | — | 2.56× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.22× | ||
| Q2 24 | — | 2.25× |
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 | $-11.7M | $90.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 22.73× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-11.7M | — | ||
| Q4 25 | $762.0K | $90.4M | ||
| Q3 25 | $-979.0K | $21.8M | ||
| Q2 25 | $-4.2M | $24.7M | ||
| Q1 25 | $-10.5M | $19.1M | ||
| Q4 24 | $2.1M | $112.1M | ||
| Q3 24 | $-2.9M | $23.7M | ||
| Q2 24 | $-650.0K | $25.6M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | 22.73× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.39× | ||
| Q4 24 | — | 10.50× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
