LegalZoom.com Q3 Results Beat Street View, Lifts FY Revenue Outlook; Shares Up 16%

(RTTNews) - LegalZoom.com, Inc. (LZ) Thursday reported third-quarter results, with both earnings and revenues beating Street view. The company also lifted its revenue outlook for the full year 2022, sending its stock up 16% in extended hours.

Net loss for the third quarter narrowed to $10.1 million or $0.05 per share from $39.7 million or $0.20 per share last year.

Adjusted net income was $9.9 million or $0.05 per share for the quarter, up from $2.6 million or $0.01 per share last year.

Revenue was $154.4 million for the quarter, up 4% year-over-year from $147.9 million. Subscription revenue was $91.4 million, compared to $73.3 million in 2021, an increase of 25% year-over-year.

Analysts polled by Thomson Reuters expected earnings of $0.04 per share on revenues of $149.93 million.

Looking forward to the fourth quarter, the company expects revenue of $145 million to $147 million. For the full year, the company now expects revenues of $617 million to $619 million, revised from $612 million to $616 million.

LZ closed Thursday's trading at $9.46, up $1.26 or 15.37%, on the Nasdaq. The stock further gained $1.54 or 16.28% in the after-hours trading.