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LegalZoom.com Q1 Loss Widens

LegalZoom.com, Inc. (LZ) Thursday reported first-quarter net loss of $30.6 million or $0.15 per share, compared to $9.8 million or $0.08 per share last year.

Adjusted loss for the quarter was $9.5 million or $0.05 per share, compared to $6.4 million or $0.05 per share.

Revenues for the quarter rose 15% to $154.2 million from $134.6 million last year.

Analysts polled by Thomson Reuters expected a loss of $0.01 per share and revenues of $150.76 million for the quarter.

Transaction revenue was $64.1 million, compared to $61.4 million in 2021, driven by an 8% improvement in average order value, partially offset by a 3% decrease in the number of transactions.

Subscription revenue was $84.4 million, compared to $65.5 million in 2021. We had 1,362,000 subscription units as of March 31, 2022 with 33,000 net units added in the quarter, and our average revenue per subscription unit increased 8% from 2022.

Looking forward, the company expects revenue of $162 million to $164 million, and $650 million to $660 million for the second quarter and full year 2022, respectively.

Analysts currently estimate revenues of $165.08 million and $654.54 million for the second quarter and full year 2022, respectively.

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