How are energy investors positioned?
Investing.com -- LegalZoom.com, Inc. (NASDAQ:LZ) reported first-quarter earnings that exceeded analyst expectations, driving shares up 14.6% in after-hours trading.
The online legal technology company posted revenue of $183.1 million for the quarter, surpassing the consensus estimate of $177.12 million and representing a 5% increase YoY. Adjusted earnings per share came in at $0.13, in line with analyst projections.
LegalZoom’s subscription revenue, a key growth driver, rose 8% YoY to $116.3 million. The company reported a 20% YoY increase in subscription units at the end of the period.
"Our first quarter results reflect accelerating subscription growth and solid progress towards our goal of double-digit subscription revenue growth in the fourth quarter," said Jeff Stibel, Chairman and CEO of LegalZoom.
For the second quarter, LegalZoom forecasts revenue between $181 million and $185 million, with the midpoint slightly above the analyst consensus of $181.9 million. The company reiterated its full-year revenue growth outlook of approximately 5% YoY.
Adjusted EBITDA for the quarter jumped 33% YoY to $37 million, with margins expanding 400 basis points to 20%. LegalZoom maintained its full-year adjusted EBITDA guidance of about $165 million.
The company also announced a $100 million increase to its share repurchase authorization, bringing the total available for buybacks to approximately $150 million.
LegalZoom’s stock movement reflects investor optimism about the company’s performance and outlook amid economic uncertainties.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.