Client RetentionManagement attributed the assisted share loss to a lack of tax pro expertise and poor communication of next steps in the filing process, causing a significant portion of clients to abandon their filings.
Long-Term ValueOngoing share losses in H&R Block's core assisted category present risks to the company's long-term value, even if near-term estimates move higher on DIY and NAC outperformance.
Market ShareH&R Block lost market share in its core assisted tax category, posting a 1% volume loss compared to 1% volume growth at the industry level.