logo
Thomson Reuters Launches CoCounsel Legal: Transforming Legal Work with Agentic AI and Deep Research

Thomson Reuters Launches CoCounsel Legal: Transforming Legal Work with Agentic AI and Deep Research

Cision Canada18 hours ago
CoCounsel Legal includes Deep Research, an industry-first AI solution grounded in Thomson Reuters expert legal content, starting with Westlaw
TORONTO, Aug. 5, 2025 /CNW/ -- Today, Thomson Reuters (TSX/Nasdaq: TRI), a global content and technology company, announced the launch of CoCounsel Legal, featuring Deep Research and agentic guided workflows. This milestone product release showcases Thomson Reuters most advanced AI offering to date, designed to help professionals move beyond prompting and start delegating.
Thomson Reuters is uniquely positioned to deliver this agentic AI breakthrough because it already has access to an AI assistant with advanced reasoning models, comprehensive legal content and tools, and expertise from thousands of domain experts—the three essential components required for reliable, professional-grade agentic AI.
CoCounsel Legal: Built for Execution, Not Just Ideas
CoCounsel Legal is a next-generation AI product that brings together legal research, essential workflow automation, intelligent document search and AI-powered legal assistance within one unified solution. It's the first time agentic AI has been deployed this broadly across professional legal workflows—with the infrastructure and scale to support enterprise-wide transformation.
Unlike AI copilots that sit beside the work, CoCounsel Legal is embedded in it—built to drive real outcomes in litigation, transactional work, and regulatory analysis. It represents the foundation for how professional AI will be delivered across law firms and legal departments into the future.
Deep Research on Westlaw: AI That Thinks Like a Lawyer
CoCounsel Legal includes Deep Research, grounded in Thomson Reuters content and tools. Deep Research in CoCounsel is the legal industry's first professional-grade agentic AI research capability—built to reason, plan, and deliver comprehensive legal research results grounded in Westlaw and Practical Law content. It enables legal professionals to hand off full research questions to an AI that not only understands the assignment — it explains its process, sources its answers, and builds the argument foundations, with human oversight.
Deep Research on the new Westlaw Advantage is integrated into CoCounsel Legal and can:
Generate multi-step research plans
Trace its logic with transparent reasoning
Deliver structured, Westlaw and Practical Law citation-backed reports
"Thomson Reuters latest integration of advanced AI models into its core platforms marks an encouraging step forward in legal technology," said Colleen Nihill, Chief AI & KM Officer at Morgan Lewis. "Deep Research stands out for its ability to reason through legal questions rather than simply return search results. When faced with a complex issue, it can generate a research plan, explain its logic, and deliver a structured report. This level of transparency is essential to maintaining the oversight and trust lawyers need to confidently adopt AI in practice."
Guided Workflows: Multi-Step AI That Actually Works
Also included in CoCounsel Legal is a growing library of guided workflows—multi-step task flows that apply agentic AI to high-friction legal work, leveraging Westlaw and Practical Law expertise. In addition to the CoCounsel guided workflows launched in July, there are new workflows launching soon:
Draft a Privacy Policy
Draft an Employee Policy
Draft a complaint
Draft discovery request
Draft discovery response
Deposition transcript review
These workflows embed legal content, apply structured reasoning, and provide human oversight by design, helping lawyers and corporate legal teams move faster while staying in control.
"This is where AI starts to feel less like a tool and more like a teammate," said David Wong, Chief Product Officer at Thomson Reuters. "Guided workflows transform how professionals approach complex legal work, moving beyond simple prompting to sophisticated, multi-step task execution—and that's a huge leap forward in what legal AI can deliver."
Trusted by the Legal Market
Over 20,000 law firms and corporate legal departments and the majority of the top US courts and Am Law 100 firms already trust CoCounsel. With CoCounsel Legal, the company is setting a new benchmark for trusted, explainable, and production-ready AI in legal practice.
Thomson Reuters
Thomson Reuters (TSX/Nasdaq: TRI) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is a world-leading provider of trusted journalism and news. For more information, visit tr.com.
Contact:
Ali Hughes
+1.763.326.4421
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

One Group (STKS) Q2 Revenue Rises 20%
One Group (STKS) Q2 Revenue Rises 20%

Globe and Mail

time7 minutes ago

  • Globe and Mail

One Group (STKS) Q2 Revenue Rises 20%

Key Points GAAP revenue rose 20.2% year over year to $207.4 million in the quarter but missed analyst estimates. Comparable restaurant sales (non-GAAP) fell 4.1% as Profit margins (restaurant EBITDA as a percentage of company-owned STK revenue, non-GAAP) declined from 17.7% in Q1 2025 to 15.9% amid elevated costs. GAAP net loss widened to $10.1 million, while Adjusted EBITDA improved to $23.4 million. These 10 stocks could mint the next wave of millionaires › One Group Hospitality (NASDAQ:STKS), operator of upscale and experiential dining brands like STK and Benihana, reported financial results for Q2 2025 on August 5, 2025. The most significant development was a 20.2% jump in GAAP revenue, reaching $207.4 million, largely thanks to the Benihana acquisition. However, this figure fell short of analyst expectations of $208.9 million in GAAP revenue, and the company posted a diluted non-GAAP earnings per share (EPS) of $0.05. Comparable sales (non-GAAP) decreased 4.1%, and GAAP net loss widened from the year-ago period. Overall, results matched internal expectations but highlight ongoing margin and cost pressures as the firm integrates new brands and pursues asset-light growth. Metric Q2 2025 Q2 Estimate Q2 2024 Y/Y Change EPS, Diluted (Non-GAAP) $0.05 $0.09 $0.19 (73.7%) Revenue $207.4 million $208.9 million $172.5 million 20.2% Restaurant EBITDA $31.9 million $29.6 million 7.8% Adjusted EBITDA $23.4 million $21.8 million N/A Consolidated Comparable Sales (4.1%) (7.0%) 2.9 pp Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report. Business Overview and Strategic Focus One Group Hospitality operates restaurant concepts targeting upscale and casual dining, including STK, Benihana, Kona Grill, and RA Sushi. Its brands emphasize high-energy, social experiences—sometimes called "vibe dining"—that distinguish it from traditional chains. Over the last year, acquiring Safflower Holdings brought Benihana and RA Sushi under the corporate umbrella, making Benihana the leading revenue contributor. The company's core focus has been expanding its reach while controlling costs and capital expenditure. It aims to open five to seven new venues in 2025, combining company-owned and franchised sites under a 'capital-light' strategy. By increasing franchise and management arrangements, it seeks growth with less direct investment, entering new markets while minimizing risk. The emphasis remains on operational efficiency, customer experience, and scaling the loyalty program to build engagement and repeat visits. Quarterly Performance: Revenue, Costs, and Brand Results The quarter's standout figure was the significant GAAP revenue gain—a 20.2% increase driven by the integration of Benihana. Restaurant EBITDA—a measure of profit at the restaurant level before company-wide costs and one-time items—rose 8%, but Restaurant EBITDA margin (non-GAAP) declined to 15.7% from 17.5%. Adjusted EBITDA, which removes some one-time and integration-related expenses, edged up 7.3%. Results came just under analyst estimates, with GAAP revenue of $207.4 million, mainly because Comparable sales (non-GAAP) across existing locations decreased 4.1%. Comparable sales—a widely used metric showing sales performance at ongoing locations—were down 4.1% (non-GAAP). Breaking it down, Benihana saw positive 0.4% same-store sales growth (non-GAAP), while the core STK brand posted a 4.9% drop in same store sales and the grill concepts suffered a 14.6% fall in same store sales. STK did record a 2.8% increase in customer transactions, helped by value-driven menu strategies, such as midweek dining bundles and happy hour promotions. Grill concepts continue to face tough competition from heavy television advertising by larger chains. Cost pressures remained clear throughout the quarter. Operating expenses climbed to 84.7% of owned restaurant net revenue, up from 82.6% in Q2 2024. Restaurant operating costs grew as a share of net sales, hitting 63.5% versus 61.4% of owned restaurant net revenue for Q2 FY2025 and Q2 FY2024, respectively. General and administrative costs (GAAP) were $11.662 million. Interest expense (GAAP) was $10.295 million. as the company carried higher debt from its acquisitions. Lease exit costs and other one-time expenses, especially from shutting underperforming grill locations, also weighed on profitability—recorded at $5.6 million. At the balance sheet level, long-term debt (GAAP) was $327.5 million as of June 29, 2025, and the company had $15.1 million in available cash and credit card receivables. While it maintains enough liquidity and no current debt covenants, costs tied to the acquisition strategy are visible in both margin deterioration and in the GAAP net loss. The company executed only modest share buybacks, totaling $0.6 million. In terms of expansion, four new venues opened in the first half of FY2025, including owned Benihana restaurants and an STK relocation, plus the second franchised Benihana Express. Management, license, franchise and incentive fee revenue was $3.472 million. Management points to this segment as a key potential growth lever but acknowledges it will take time to ramp up. Finally, new customer initiatives included the soft launch of the Friends With Benefits loyalty program, which is being introduced across all brands, with emphasis on bringing in the casual brands first. Management reported that customer experience and execution in casual units meet internal standards, but that pricing remains deliberately constrained to drive repeat visits and recover market share rather than short-term margin improvement. Looking Ahead: Guidance and Key Watchpoints The company provided guidance for the next quarter, projecting total GAAP revenue of $190–$195 million, consolidated comparable sales (non-GAAP) between (4%) and (2%), and Adjusted EBITDA guidance of $15–$18 million. For FY2025, GAAP guidance is for revenue between $835 and $870 million and adjusted EBITDA in the $95–$115 million range. Five to seven new venues are expected for the full year, with most openings weighted to the back half of the year. No dividend is currently paid on common stock. Looking forward, investors will likely follow several evolving trends: progress in comparable sales (non-GAAP) recovery at Benihana and STK, margin development as integration efforts mature, and the ability to offset higher costs with operating efficiencies. Given the firm's high leverage and expansion plans, close attention to free cash flow, liquidity, and debt levels will also remain essential in the coming quarters. STKS does not currently pay a dividend. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,039%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. *Stock Advisor returns as of August 4, 2025

8x8 (EGHT) Q1 Revenue Rises 2%
8x8 (EGHT) Q1 Revenue Rises 2%

Globe and Mail

time7 minutes ago

  • Globe and Mail

8x8 (EGHT) Q1 Revenue Rises 2%

Key Points Total revenue (GAAP) was $181.4 million in Q1 fiscal 2026. Non-GAAP EPS was $0.08 in Q1 fiscal 2026. Cash flow from operations was $11.9 million in Q1 fiscal 2026, marking the eighteenth consecutive quarter of positive operating cash flow but a notable decline from a year ago. These 10 stocks could mint the next wave of millionaires › 8x8 (NASDAQ:EGHT), a provider of cloud-based communications and customer engagement solutions, reported its first-quarter fiscal 2026 results on August 5, 2025. The company's revenue for the period edged above analyst expectations, coming in at $181.4 million compared to the consensus estimate of $180.7 million. Non-GAAP earnings per share were $0.08, matching the prior-year period. Cash flow from operations was positive for the eighteenth consecutive quarter, though it declined from the same period last year. The quarter reflected modest top-line growth, continued platform innovation, and ongoing margin pressure as the company transitions away from legacy products and invests in its unified platform strategy. Metric Q1 fiscal 2026(quarter ended June 30, 2025) Q1 fiscal 2026 Estimate Q1 fiscal 2025(quarter ended June 30, 2024) Y/Y Change EPS – Diluted (Non-GAAP) $0.08 $0.10 $0.08 0.0% Revenue (GAAP) $181.4 million $180.7 million $178.1 million 1.8% Service Revenue $176.3 million $172.8 million 2.0% Non-GAAP Operating Profit $16.3 million $20.1 million (18.9%) Adjusted EBITDA $20.7 million $25.8 million (19.8%) Cash Flow from Operations $11.9 million $18.1 million (34.3%) Estimate column reflects analyst consensus where available; guidance and estimates are based on company disclosures and FactSet data. Business Overview and Strategic Focus The company delivers a cloud-based platform for business communications, offering services for voice calls, video meetings, messaging, and contact center operations. Its core product is an integrated, AI-powered Platform for Customer Experience (CX), which brings together Contact Center as a Service (CCaaS), Unified Communications as a Service (UCaaS), and Communications Platform as a Service (CPaaS). CPaaS provides programming tools for customers to build custom communication features. 8x8's recent focus has been on unifying these services into a single platform to simplify operations and provide better data-driven insights for businesses. The company targets mid-market and enterprise customers who need comprehensive communication solutions. Key success factors include ongoing platform innovation, reducing customer complexity, and expanding its technology partner ecosystem. Investments in artificial intelligence, such as real-time agent guidance and sentiment analysis, are central to its strategy. Quarterly Performance: Revenue, Margins, and Key Developments The period marked a return to year-over-year revenue growth, with the revenue figure slightly exceeding analyst expectations. Service revenue, which is the main recurring revenue stream, increased compared to the prior year. Other revenue, tied to non-core offerings, declined and remains a small part of the business. Profitability metrics came under pressure. Non-GAAP operating profit and adjusted EBITDA both declined from the prior-year period, reflecting continued investment in product development and platform expansion. The company is also managing the final stages of transitioning customers off its legacy Fuze platform, with all migrations expected to be complete by the end of calendar year 2025. Cash flow from operations was positive for the eighteenth consecutive quarter, but the result was down from the same period last year. The company ended the quarter with $81.3 million in cash and cash equivalents. During the period, it repaid $15.0 million in term loan principal and repurchased $1.8 million in shares, showing a focus on balance sheet strength and shareholder returns. Gross margins narrowed compared to the prior year, driven in part by a greater mix of usage-based offerings, which typically have lower profitability. The non-GAAP gross margin for service revenue was 70.6%, and the total non-GAAP gross margin was 67.8%, down from 70.6% a year earlier. Management continues to prioritize investment in go-to-market and product innovation, accepting near-term margin compression as part of its long-term plan. Product Innovation and Customer Adoption The company's integrated Platform for Customer Experience (CX) remains its main area of progress. This platform uses artificial intelligence to help businesses manage customer communications across voice, messaging, and video channels. New features this quarter included Verif8 for secure authentication, expanded Operator Connect for integrating Microsoft Teams voice in 50 countries, and Smart Assist with Conversation Intelligence, which uses real-time AI to guide agents and analyze conversations. Other innovations included AI-powered chat summarization, more flexible device options, and enhanced integration with customer relationship management (CRM) tools. The platform now supports additional digital channels such as Viber and Facebook Messenger, and offers expanded payment tools like PCI-compliant automated payments. Multi-product adoption continues to rise, especially among mid-market and enterprise clients. Customers using three or more of the company's offerings now represent more than half of total subscription revenue, with a 13% year-over-year increase in this group. These customers tend to renew at higher rates, supporting stronger retention and long-term growth potential. The technology partner ecosystem expanded further, with new integrations for social listening, financial services verification, and device support. The company received several industry awards during the quarter, highlighting its unified approach and appeal to businesses seeking single-vendor solutions. Looking Ahead: Guidance and Key Areas to Watch Management provided guidance for the next quarter and the full fiscal year. For the second quarter of fiscal 2026, it expects total revenue between $175 million and $180 million and service revenue between $170 million and $175 million. Non-GAAP operating margin is expected to remain compressed at 9.0–9.5%. Estimated non-GAAP EPS is $0.06–$0.08, and operating cash flow is forecast at $3–$5 million. For the full fiscal 2026 year, the company projects total revenue of $706–$720 million and service revenue of $685–$700 million. Non-GAAP operating margins are expected to be 8.5–9.5%, with diluted non-GAAP EPS of $0.28–$0.33. Management noted that these targets assume continued investment in growth and platform adoption, even at the expense of near-term profits. EGHT does not currently pay a dividend. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,039%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of August 4, 2025

Cricut (CRCT) Q2 Revenue Jumps 2%
Cricut (CRCT) Q2 Revenue Jumps 2%

Globe and Mail

time7 minutes ago

  • Globe and Mail

Cricut (CRCT) Q2 Revenue Jumps 2%

Key Points Cricut reported GAAP revenue of $172.1 million and GAAP earnings per share of $0.11 in Q2 2025, surpassing analyst expectations, with GAAP revenue up 2% year over year. Gross margin (GAAP) expanded significantly, reaching 59.0%, aided by higher subscription revenues and new product launches. The active user base remained flat year-over-year at 5,901,000, while paid subscribers rose 7% year-over-year, but management declined to give forward margin guidance due to tariff uncertainty. These 10 stocks could mint the next wave of millionaires › Cricut (NASDAQ:CRCT), known for its connected craft cutting machines and creative platform, released its Q2 2025 earnings on August 5, 2025. The company reported GAAP revenue of $172.1 million and diluted GAAP earnings per share of $0.11, outpacing consensus GAAP revenue estimates of $158.6 million. This performance marked a substantial beat versus expectations, with both GAAP EPS and revenue exceeding analyst estimates and included notable improvements in gross margin and GAAP net income compared to prior year results. Despite these advances, user engagement metrics remained flat, and management withheld explicit future margin guidance, citing ongoing tariff risks. Overall, the quarter saw stronger-than-expected profitability, as GAAP EPS of $0.11 exceeded analyst estimates and incremental progress on platform monetization, set against continued headwinds in user activity and external macro challenges. Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report. Business Overview and Strategic Focus Cricut produces cutting machines and a digital design platform that enable consumers to create personalized projects at home. The core of its business is the integration of hardware (the cutting machines), a cloud-based design application called Design Space, and a range of consumable materials and accessories. This connected 'ecosystem' draws a community of just over 5.9 million active users and over 3.0 million paid software subscribers. The company's near-term focus has remained on strengthening platform monetization, driving paid subscriptions, and expanding internationally. Core success factors also include fostering a highly engaged creative community, innovating in both hardware and design tools, and adapting to new market conditions through supply chain flexibility and targeted marketing. Growth in paid subscribers and international sales, coupled with strict cost controls, have stood out as recent strengths. At the same time, new user acquisition and ongoing engagement are persistent challenges. Quarter Highlights and Financial Trends Cricut's top-line GAAP revenue exceeded Wall Street forecasts by $13.5 million. The performance was driven by a 4% increase in Platform revenue and a 1% rise in Products revenue, which includes connected cutting machines and consumable materials. The Platform revenue gains were fueled by growth in paid subscribers, which rose 7% year over year to 3.01 million. The Platform average revenue per user (ARPU) also increased by 2% year-over-year. The Products category was mixed: new machine launches, including the fourth-generation Cricut Maker and Explore cutting machines, were met with positive retailer and user feedback. However, the materials and accessories segment continued to struggle, even as the company tried to combat this weakness by expanding its Value line of lower-cost materials and accessories. Gross margin, a measure of revenue retained after subtracting product and service costs, expanded to 59.0% from 53.5% compared to Q2 2024. Key drivers of margin improvement included a greater share of high-margin subscription revenue and a favorable hardware sales mix. The operating income margin moved up to 17.5% of revenue, while GAAP net income rose 24% year over year. Operating cash flow reached $36.2 million, with solid free cash flow supporting both capital returns and development investments. While top and bottom line results showed improvement, Cricut's active user base stayed essentially flat at 5.9 million, and the metric for 90-day engaged users declined slightly by less than 2%, landing at 3.5 million. This flatness in Active Users partly reflects the natural maturing of earlier user cohorts, particularly those acquired during the sharp growth phase in 2020 and 2021. Engagement initiatives, including personalization and marketing automation, showed some effect—but have yet to drive a clear return to growth in user activity figures. International revenue provided one of the brighter spots for the period, climbing 8% year-over-year and reaching 21% of company-wide sales. The company has prioritized product localization and region-specific marketing to fuel growth abroad. Despite progress in countries like the UK and Germany, management acknowledged that regional performance remained uneven, and ongoing promotion will be needed to capture wider international share. Product, Ecosystem, and Segment Performance The company reported an increase in ARPU to $53.84. Hardware sales saw an encouraging boost from the introduction of two new connected cutting machines—Cricut Maker 4 and Cricut Explore 4—that debuted at the end of Q1 2025. These launches contributed to improving machine sales growth compared to recent periods. However, consumables and accessories (such as vinyl sheets, iron-on materials, and specialty papers) continued to lag, facing pressure from competitive 'white-label' and third-party products in retail and online channels. The Value line, which expanded by over 100 new stock keeping units (SKUs) in late Q1 2025 and April 2025, aims to reclaim share by focusing on affordability and bundle value. The company also benefited from operational improvements and favorable supply sourcing. The company's gross profit (GAAP) was $101.5 million, and operating income margin reached 18.0% in Q1 2025. Management's focus extended to international expansion, where localization of the software platform and enhanced multilingual content supported overseas revenue. Nevertheless, Growth was uneven by geography, with soft spots remaining in Australia. Cricut's business model remains fundamentally tied to its large community, where user activity drives not only Platform subscriptions but aftermarket sales of machine-compatible accessories and specialty materials that generate recurring purchases. Outlook, Guidance, and Capital Returns The company's leadership did not offer explicit forward guidance for operating margins or revenue, citing ongoing uncertainty around tariffs and global supply chain costs. In the words of management: "Our prior guidance for operating margins can no longer be relied upon and we are no longer providing any color on our operating margin expectations for the year.". Cricut stated only that it "expects to be profitable each quarter and generate significant positive cash flow during 2025." No quantitative sales forecast for the third quarter or for fiscal 2025 was issued. In response to strong operating cash flow and a robust, debt-free balance sheet, Cricut authorized and executed significant capital returns. After Q2 2025, the company completed payment of a special $0.75 per share dividend and a recurring semiannual dividend of $0.10 per share. This follows earlier share repurchases of $4.7 million. Cricut's large dividend and buyback activity signal continued confidence in its long-term profitability and cash generation. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,039%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. *Stock Advisor returns as of August 4, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store