Q1

To our shareholders, customers, and employees:

Our first quarter as a Series A company has yielded some amazing results: We crossed $10 million in annualized revenue for the first time, and as of last month, an average of 200 hours of legal work got completed every day on the Lawtrades platform, across 12 different countries. We predict this is just the beginning.

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In the coming years, we expect to benefit from the continued adoption of remote work around the world as millions of professionals leverage the internet to find flexible work for the first time.

It represents a compelling economic opportunity for professionals to become entrepreneurs and if we at Lawtrades do our job right, we can be uniquely positioned to serve these new users best and benefit as a result.

In Q1 2022, our hyper-focus on our customers needs and frustrations worked:

• Revenue grew from $956k in Q1 2021 to $2.3 million—up 147%.
• Gross profit grew to $608k last quarter, from $269k in Q1 2021, up 126%.
• 25 new enterprise customers were added, up 108% compared to last year.
• Over 100 legal professionals now work on the platform across 12 countries, up 100% compared to Q1 2021.
• Customers are spending 2x faster per month compared to last years cohort
• Finally, we put $1.7 million directly in the pockets of legal freelancers choosing the entrepreneurial route, up 160%.

Team continues to grow

Our FTE headcount grew from 8 last year to 17 as of last month, and we are in the process of strengthening our leadership team. Meet some of the newest Lawtraders:

📱 ****Andrew Simon Product Manager (Prev: Uber/Workrise, Product Manager)

💰 Aaron Diek Sr. Account Executive (Prev: Toptal, Sales Team Lead )

🤝 Veronika Farkas Talent Success Manager (Prev: WeWork, Community Manager)

📣 Matt Margolis Head of Community (Prev: Lloyd Jones, Director of Legal)