Revenue Up 12.4%, Collections 5% Slower: The Cash-Conversion Gap Hiding Inside Mid-Market Law Firms' Best Year in a Decade

Industry reporting for the first half of 2026 shows US law firm revenue up 12.4% and standard rates up 9.6% - while collection cycles ran about 5% slower and firms still collected roughly 93% of what they billed. Growth is real, but it is arriving later and thinner. Here is how mid-market firms should read the gap between billed and banked, and the ledger architecture that closes it.