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Mar 31, 2023
LegalZoom Q1 2023 Earnings Report
LegalZoom's Q1 2023 financial results were reported, showing revenue increase and improved profitability.
Key Takeaways
LegalZoom reported a 7% increase in revenue to $165.9 million for Q1 2023. The company's net loss significantly decreased to $2.4 million, and adjusted EBITDA reached $21.9 million.
Revenue increased by 7% year-over-year to $165.9 million.
Subscription revenue grew by 15% year-over-year to $97.3 million.
Net loss improved to $2.4 million compared to $25.8 million in the same period last year.
Free cash flow increased to $21.8 million from $8.8 million year-over-year.
Revenue by Segment
Forward Guidance
LegalZoom expects Q2 2023 revenue to be in the range of $166 million to $168 million and Adjusted EBITDA to be $27 million to $29 million. Full year 2023 revenue is expected to be in the range of $630 million to $650 million and Adjusted EBITDA to be $105 million.
Positive Outlook
- Revenue is expected to be in the range of $166 million to $168 million for Q2 2023.
- Adjusted EBITDA is expected to be $27 million to $29 million for Q2 2023.
- Full year 2023 revenue is now expected to be in the range of $630 million to $650 million.
- Full year 2023 Adjusted EBITDA is now expected to be $105 million.
- The company's new line-up and refreshed marketing messaging helped drive strong market share gains.
Challenges Ahead
- There is inherent difficulty of forecasting the timing or amount of various items that would impact the most directly comparable forward-looking GAAP financial measure.
- The forward-looking non-GAAP financial measures provided may vary materially from the corresponding GAAP financial measures.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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