LZ - LegalZoom.com rallies 23% on topping estimates

LegalZoom.com ( LZ ) +23% after beating on the top and bottom line .

Revenue of $163.87M, up 9% Y/Y beats conesensus by $2.58M.

Transaction revenue was $66.5M, down 9% Y/Y.

Subscription revenue was $91.3M, up 32% Y/Y.  As of June 30, 2022, the company had 1,394,000 subscription units with 32,000 net units added in Q2, and average revenue per subscription unit increased 10% from 2021.

Partner revenue was $6.1 million, compared to $7.7 million, in 2021.

Q3 Guidance: Revenue is expected to be in the range of $149M to $151M vs. consensus of $171.27M; Adjusted EBITDA is expected to be $16M to $18M.

FY22 Guidance: Revenue is expected to be in the range of $612M-$616M ($636.71M consensus), revised from $650M-$660M.

Subscription revenue is expected to grow more than 20% year-over-year, revised from approximately 25% year-over-year.

Adjusted EBITDA is expected to be $55 million, revised from $48M.

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