H&R Block’s Revenue by Service Line (2016-2022)

This statistic highlights H&R Block’s Revenue by Service Line, across International, US assisted tax preparation, Emerald card, Peace of mind extended service plan, Wave, US royalties, Tax identity shield, US DIY tax preparation, Refund transfers, Internet & fee income on Emerald Advance and Other product lines.

H&R Block’s Revenue by Service Line

(All figures in millions, except percentages)

The total revenue of H&R Block decreased from $601.03 million to $192.624 million from Q1 2021 to Q1 2022, marking a 68% fall in revenue in a year. The revenue also fell by $2135.6 million leading to a quarterly decline of 91.7%  in revenue.

Generally, the company faces losses during the first three quarters due to the majority of its revenue coming from taxation services but the pandemic has shifted this seasonality.

International

This service line had the highest share of 30.28% in the company’s total revenue. The revenue fell by 14% yearly from Q1 2021 to Q1 2022 and 50.4% quarterly from Q4 2021 to Q1 2022.

US assisted tax preparation

The revenue from this line experienced huge falls of 90% and 98% on a year-on-year basis and quarter-on-quarter basis respectively. It had a 17.45% share in the company’s revenue.

Emerald Card

It enables the clients to receive their refunds directly on their debit cards. It can be used for day-to-day purchases, ATM services also.

It had an overall share of 14.67% in the company’s total revenue. The revenue from this service increased by 65.7% yearly, from Q1 2021 to Q1 2022 but also decreased by about 68% quarterly, from Q4 2021 to Q1 2022.

Peace of Mind extended service plan

The company offers these POM services to clients in US and Canada. H&R Block represents its clients in an audit and also assumes the cost to a certain limit resulting due to their errors.

The revenue from this service line fell by 22.4% on a year-on-year basis. The revenue also fell by 4.5% quarterly, from Q4 2021 to Q1 2022. Overall, this line had a 12.9% share in the company’s revenue in 2022.

Wave

The company through Wave, helps small businesses with innovative solutions. The revenue from Wave increased by 58.6% yearly and 12% quarterly. It had a share of 9.93% in 2022’s revenue.

US Royalties

The revenue from US royalties dipped by $28.591 million from Q1 2021 to Q1 2022, marking a yearly fall of 79.5% in revenue. The revenue also fell by 95.4% quarterly, from Q4 2021 to Q1 2022. This service line contributed 3.82% to the total revenue in Q1 2022.

Tax identity shield

This program helps the clients to protect their tax identity and help restore their tax identity, if required. It scans the dark web on a daily basis and also notifies the client if their information is spotted on a return.

The revenue fell by 45% on a year-on-year basis and by 76% on a quarterly basis, from Q4 2021 to Q1 2022. This service had a contribution of 2.68% to the company’s revenue.

US DIY tax preparation

The company offers a range of do-it-yourself tax products and services like tax-related news, income tax return solutions, and many more, all of which had a share of 2.11% in the company’s revenue. The revenue from this line too decreased by 94% in a year and 98% in just a quarter.

Refund transfers

This line enables the clients to receive tax refunds and also to deduct the tax preparation and other related fees from these refunds. It is offered in partnership with a bank.

The total revenue from this service line declined by $8.89 million, marking a significant 84% fall on a yearly basis, from Q1 2021 to Q1 2022. The revenue also fell by a massive $149.9 million from Q4 2021 to Q1 2022, marking a 99% fall in the revenue quarterly. This line accounted for 0.86% of the company’s 2022 revenue.

Interest and fee income on Emerald Advance

These services had the least share of just 0.25% in the company’s revenue, which declined by 27.8% in a year and 98% in just a quarter.

Other

This line showed a decline of 4.8% yearly, from Q1 2021 to Q1 2022 and by 6.2% quarterly, from Q4 2021 to Q1 2022. It had a 5.06% share in the revenue.

About H&R Block

The company was incorporated in 1955 under the laws of the State of Missouri. The company aims to assist its clients and communities globally through financial products, business solutions, and tax preparation. The company combines human expertise with digital innovation and helps in better management of the clients’ money.

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