Legalzoomcom Inc · Q1 2024 earnings

Briefing

Reported a revenue increase of 5% year-over-year, driven by subscription growth and solid execution in a weaker macro environment.

LegalZoom reported a 5% increase in revenue to $174.2 million for Q1 2024. Subscription revenue grew by 10% year-over-year, and the company achieved a net income of $4.7 million compared to a net loss in the same period last year. Adjusted EBITDA also exceeded expectations, growing 28% year-over-year.

• Revenue increased by 5% year-over-year to $174.2 million.
• Subscription revenue grew by 10% year-over-year to $107.9 million.
• Net income was $4.7 million, a significant improvement from the net loss of $2.4 million in the same period last year.
• Adjusted EBITDA increased by 28% year-over-year to $27.9 million.

Headline financials

Revenue & EPS history

LegalZoom expects revenue between $172 million and $176 million and Adjusted EBITDA between $25 million and $27 million for the second quarter ending June 30, 2024. For the full year ending December 31, 2024, LegalZoom reiterates its guidance with revenue expected to be in the range of $700 million to $720 million and Adjusted EBITDA in the range of $135 million to $145 million. The company also expects free cash flow to be in the range of $85 million to $95 million for the full year.