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CS Disco, Inc.（LAW）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
Repay Holdings Corp的季度营收约是CS Disco, Inc.的1.9倍（$78.6M vs $41.2M），CS Disco, Inc.净利率更高（-20.7% vs -178.3%，领先157.6%），CS Disco, Inc.同比增速更快（11.3% vs 0.4%），Repay Holdings Corp自由现金流更多（$23.2M vs $255.0K），过去两年CS Disco, Inc.的营收复合增速更高（7.6% vs -1.3%）
CS Disco, Inc.是一家领先的法律科技企业，开发面向法律从业者的云原生软件产品，涵盖电子取证、文档审核、案件管理及法律工作流自动化等工具，服务客户包括律师事务所、企业法务部门及政府法律机构。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
LAW vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.9倍
$41.2M
营收增速更快
LAW
高出10.9%
0.4%
净利率更高
LAW
高出157.6%
-178.3%
自由现金流更多
RPAY
多$23.0M
$255.0K
两年增速更快
LAW
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $41.2M | $78.6M |
| 净利润 | $-8.5M | $-140.1M |
| 毛利率 | 75.1% | 74.2% |
| 营业利润率 | -22.4% | -182.2% |
| 净利率 | -20.7% | -178.3% |
| 营收同比 | 11.3% | 0.4% |
| 净利润同比 | 66.3% | -3304.1% |
| 每股收益（稀释后） | $-0.13 | $-1.68 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收LAWRPAY
| Q4 25 | $41.2M | $78.6M | ||
| Q3 25 | $40.9M | $77.7M | ||
| Q2 25 | $38.1M | $75.6M | ||
| Q1 25 | $36.7M | $77.3M | ||
| Q4 24 | $37.0M | $78.3M | ||
| Q3 24 | $36.3M | $79.1M | ||
| Q2 24 | $36.0M | $74.9M | ||
| Q1 24 | $35.6M | $80.7M |
净利润LAWRPAY
| Q4 25 | $-8.5M | $-140.1M | ||
| Q3 25 | $-13.7M | $-6.4M | ||
| Q2 25 | $-10.8M | $-102.3M | ||
| Q1 25 | $-11.4M | $-7.9M | ||
| Q4 24 | $-25.2M | $-4.1M | ||
| Q3 24 | $-9.2M | $3.2M | ||
| Q2 24 | $-10.8M | $-4.1M | ||
| Q1 24 | $-10.6M | $-5.2M |
毛利率LAWRPAY
| Q4 25 | 75.1% | 74.2% | ||
| Q3 25 | 75.5% | 74.4% | ||
| Q2 25 | 74.6% | 75.7% | ||
| Q1 25 | 74.1% | 75.9% | ||
| Q4 24 | 74.2% | 76.3% | ||
| Q3 24 | 73.1% | 77.8% | ||
| Q2 24 | 74.2% | 78.2% | ||
| Q1 24 | 75.1% | 76.2% |
营业利润率LAWRPAY
| Q4 25 | -22.4% | -182.2% | ||
| Q3 25 | -35.3% | -3.9% | ||
| Q2 25 | -31.0% | -138.7% | ||
| Q1 25 | -34.4% | -4.7% | ||
| Q4 24 | -70.6% | -1.5% | ||
| Q3 24 | -30.0% | -0.9% | ||
| Q2 24 | -34.4% | -4.6% | ||
| Q1 24 | -34.7% | -3.1% |
净利率LAWRPAY
| Q4 25 | -20.7% | -178.3% | ||
| Q3 25 | -33.4% | -8.3% | ||
| Q2 25 | -28.4% | -135.2% | ||
| Q1 25 | -31.1% | -10.3% | ||
| Q4 24 | -68.1% | -5.3% | ||
| Q3 24 | -25.3% | 4.1% | ||
| Q2 24 | -30.1% | -5.4% | ||
| Q1 24 | -29.7% | -6.5% |
每股收益（稀释后）LAWRPAY
| Q4 25 | $-0.13 | $-1.68 | ||
| Q3 25 | $-0.22 | $-0.08 | ||
| Q2 25 | $-0.18 | $-1.15 | ||
| Q1 25 | $-0.19 | $-0.09 | ||
| Q4 24 | $-0.43 | $-0.04 | ||
| Q3 24 | $-0.15 | $0.03 | ||
| Q2 24 | $-0.18 | $-0.04 | ||
| Q1 24 | $-0.17 | $-0.06 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $114.6M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $128.1M | $484.4M |
| 总资产 | $173.6M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资LAWRPAY
| Q4 25 | $114.6M | $115.7M | ||
| Q3 25 | $113.5M | $95.7M | ||
| Q2 25 | $114.5M | $162.6M | ||
| Q1 25 | $118.8M | $165.5M | ||
| Q4 24 | $129.1M | $189.5M | ||
| Q3 24 | $126.8M | $168.7M | ||
| Q2 24 | $130.0M | $147.1M | ||
| Q1 24 | $148.7M | $128.3M |
总债务LAWRPAY
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益LAWRPAY
| Q4 25 | $128.1M | $484.4M | ||
| Q3 25 | $130.6M | $616.9M | ||
| Q2 25 | $137.9M | $633.7M | ||
| Q1 25 | $142.2M | $755.7M | ||
| Q4 24 | $147.5M | $761.3M | ||
| Q3 24 | $167.3M | $754.7M | ||
| Q2 24 | $170.9M | $815.4M | ||
| Q1 24 | $193.2M | $813.8M |
总资产LAWRPAY
| Q4 25 | $173.6M | $1.2B | ||
| Q3 25 | $174.8M | $1.3B | ||
| Q2 25 | $164.9M | $1.4B | ||
| Q1 25 | $168.0M | $1.5B | ||
| Q4 24 | $180.3M | $1.6B | ||
| Q3 24 | $194.4M | $1.6B | ||
| Q2 24 | $198.0M | $1.5B | ||
| Q1 24 | $217.3M | $1.5B |
负债/权益比LAWRPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $762.0K | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $255.0K | $23.2M |
| 自由现金流率自由现金流/营收 | 0.6% | 29.6% |
| 资本支出强度资本支出/营收 | 1.2% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-18.0M | $90.7M |
8季度趋势，按日历期对齐
经营现金流LAWRPAY
| Q4 25 | $762.0K | $23.3M | ||
| Q3 25 | $-979.0K | $32.2M | ||
| Q2 25 | $-4.2M | $33.1M | ||
| Q1 25 | $-10.5M | $2.5M | ||
| Q4 24 | $2.1M | $34.3M | ||
| Q3 24 | $-2.9M | $60.1M | ||
| Q2 24 | $-650.0K | $31.0M | ||
| Q1 24 | $-7.3M | $24.8M |
自由现金流LAWRPAY
| Q4 25 | $255.0K | $23.2M | ||
| Q3 25 | $-2.0M | $32.1M | ||
| Q2 25 | $-5.2M | $33.0M | ||
| Q1 25 | $-11.0M | $2.4M | ||
| Q4 24 | $1.5M | $34.0M | ||
| Q3 24 | $-3.7M | $59.8M | ||
| Q2 24 | $-1.3M | $30.5M | ||
| Q1 24 | $-8.0M | $24.7M |
自由现金流率LAWRPAY
| Q4 25 | 0.6% | 29.6% | ||
| Q3 25 | -5.0% | 41.3% | ||
| Q2 25 | -13.6% | 43.6% | ||
| Q1 25 | -30.1% | 3.0% | ||
| Q4 24 | 4.1% | 43.5% | ||
| Q3 24 | -10.3% | 75.6% | ||
| Q2 24 | -3.6% | 40.7% | ||
| Q1 24 | -22.5% | 30.6% |
资本支出强度LAWRPAY
| Q4 25 | 1.2% | 0.1% | ||
| Q3 25 | 2.6% | 0.2% | ||
| Q2 25 | 2.5% | 0.1% | ||
| Q1 25 | 1.4% | 0.2% | ||
| Q4 24 | 1.5% | 0.3% | ||
| Q3 24 | 2.4% | 0.3% | ||
| Q2 24 | 1.8% | 0.6% | ||
| Q1 24 | 1.9% | 0.1% |
现金转化率LAWRPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
LAW
| Software | $35.1M | 85% |
| Services | $6.0M | 15% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
