Welcome to our dedicated page for LegalZoom.com news (Ticker: LZ), a resource for investors and traders seeking the latest updates and insights on LegalZoom.com stock.
LegalZoom.com, Inc. (Nasdaq: LZ) is a leading online platform providing comprehensive legal, tax, accounting, and compliance solutions tailored for small businesses and families in the United States. Since its inception over 15 years ago, LegalZoom has assisted more than three million Americans in navigating the complexities of legal and financial tasks. The company’s services encompass business formations, compliance and tax advice, estate plans, trademark filings, business licenses, accounting, virtual mailbox, and e-signature solutions.
Recent developments highlight LegalZoom’s ongoing commitment to supporting entrepreneurs. In November 2023, the company announced a Secondary Offering of 15,099,993 shares of common stock by LucasZoom, LLC, an affiliate of Permira Advisers LLC. Though LegalZoom is not directly offering shares in this transaction, it underscores the confidence investors have in the company's growth trajectory.
The company recently introduced the Beneficial Ownership Information Report service, aimed at ensuring compliance with the new Corporate Transparency Act. This service helps business owners avoid severe penalties associated with non-compliance by streamlining the filing process with the Financial Crimes Enforcement Network (FinCEN).
LegalZoom also announced partnerships with NBA Champion Giannis Antetokounmpo and WNBA Champion Kelsey Plum to support the Fast Break for Small Business grant program. This initiative, launched in collaboration with the NBA, WNBA, and NBA G-League, aims to distribute $3 million in grants and services to small business owners and aspiring entrepreneurs.
Financially, LegalZoom demonstrated strong performance in the fourth quarter of 2023, with significant revenue growth and an increase in Adjusted EBITDA margin, reflecting operational efficiencies. The company continues to invest in technology and expand its service offerings, ensuring robust support for its growing base of small business customers.
Looking ahead, LegalZoom is poised to maintain its leadership in online legal solutions by continuously enhancing its platform and broadening its ecosystem of services. With a mission to make legal and financial expertise accessible to all, LegalZoom empowers entrepreneurs to transform their business dreams into reality.
LegalZoom (LZ) has announced a multi-year strategic partnership with 1-800Accountant to provide full-service bookkeeping and tax solutions for small business owners. The service will launch by January 2025, integrating 1-800Accountant's tax expertise into LegalZoom's ecosystem.
The partnership addresses key findings from a recent LegalZoom customer survey, which identified tax management, liability protection, and legitimacy as primary motivations for business formation. The collaboration aims to streamline tax preparation processes through expert CPAs and technology, helping business owners maximize tax savings and maintain compliance.
The agreement includes minimum lead requirements and corresponding minimum annual revenue commitments over the multi-year term.
LegalZoom (Nasdaq:LZ) is urging small business owners to file for trademark registration before the USPTO increases filing fees on January 18, 2025. The company highlights the growing importance of intellectual property protection in the age of AI, where copying branding elements has become easier.
Through its law firm LZ Legal Services, LegalZoom offers attorney-led trademark services for $649, approximately 75% less than traditional attorney fees averaging $2,500. Analysis of five-year customer data shows increased trademark applications, particularly in education, entertainment, advertising, business, and clothing sectors, which represent 44% of filed applications since 2019.
LegalZoom (Nasdaq: LZ) has announced its participation in the Barclays 22nd Annual Global Technology Conference on December 11, 2024. Chairman and CEO Jeff Stibel and COO/CFO Noel Watson will conduct a fireside chat starting at 2:30 p.m. PT.
The event will be accessible via live audio webcast and replay on LegalZoom's Investor Relations website. LegalZoom operates as a leading online platform for business formation in the United States, focusing on providing comprehensive legal and compliance products through user-friendly technology. The company supports millions of small business owners with services ranging from free business formations to professional advisory services.
LegalZoom (LZ) announces expanded partnership with Defy Ventures, committing $100,000 in 2025 to support mental health and wellbeing programs for incarcerated and formerly incarcerated individuals. The funding will enhance trauma-informed curriculum, expand support groups, provide staff training, and offer technical support. The partnership, which began in 2021, has helped maintain a three-year recidivism rate below 15%. Defy Ventures offers programs including CEO of Your New Life, Entrepreneur Bootcamp, and Business Accelerator, focusing on business skills and personal development. Previous LegalZoom contributions have funded various initiatives, including a cohort at California Women's Facility and post-release services.
LegalZoom (LZ) has appointed Nathan Gooden to its Board of Directors and as a member of both the Audit and Compensation Committees. Gooden, currently CFO of Squarespace, brings extensive experience in finance leadership across small business and ecommerce technology sectors. His background includes serving as CFO of Amazon Alexa and previous roles at Spacepointe and Solavei. The appointment aligns with LegalZoom's strategic focus on achieving high-value customer growth, margin expansion, and reaccelerating subscription revenue growth. Following this appointment, LegalZoom's Board consists of six directors, with five being independent.
LegalZoom reported strong Q3 2024 results with revenue of $168.6 million, up 1% year-over-year. Subscription revenue grew 5% to $110.7 million, while transaction revenue decreased 7% to $57.9 million. The company achieved record Q3 net income of $11.1 million with a 7% margin and record Adjusted EBITDA of $47.1 million with a 28% margin. Subscription units increased 10% year-over-year, while transaction units grew 8%. The company repurchased 3.8 million shares for $24.7 million and increased its share repurchase authorization by $40.0 million to $215.0 million.
Inc. has named LegalZoom as a 2024 Power Partner Award winner, recognizing its support for entrepreneurs and startups. LegalZoom, a leading online platform for business formation in the US, has helped create over 4 million businesses. The company offers affordable legal services, expert advice, and comprehensive business management tools.
Despite rising costs in traditional law firms, LegalZoom maintains below-average prices for legal services. It provides access to experienced business attorneys and a nationwide network of independent licensed lawyers. LegalZoom's expanded offerings include accounting tools, AI-powered document assistance, e-signatures, and partnerships with brands like Wix and NEXT Insurance.
The Inc. Power Partner Awards honor B2B organizations that support entrepreneurs across various aspects of business, including hiring, compliance, infrastructure development, cloud migration, and fundraising. LegalZoom's inclusion reflects its dedication to helping small businesses thrive in a changing world.
LegalZoom.com, Inc. (Nasdaq: LZ) has announced it will report its financial results for the third quarter ended September 30, 2024, on Wednesday, November 6, 2024, after the market closes. Jeff Stibel, Chairman & Chief Executive Officer, and Noel Watson, Chief Financial Officer & Chief Operating Officer, will host a conference call and webcast at 4:30 p.m. ET the same day to discuss the results.
The conference call can be accessed via webcast or dial-in, with details provided in the announcement. A replay of the webcast will be available on the LegalZoom Investor Relations website following the live event.
LegalZoom is described as a leading online platform for business formation in the United States, offering comprehensive legal and compliance products and expertise for small business owners through easy-to-use technology.
LegalZoom, a leading online legal technology company, is encouraging couples to consider prenuptial agreements as part of their wedding preparations. Recent data shows over 40% of Gen Z and Millennial couples are opting for prenups. LegalZoom's law firm, LZ Legal Services, provides prenup services in 10 states, with plans to expand to Colorado and Ohio.
Key findings include:
- Men initiate 65% of LZLS prenup orders
- California leads with 51% of LZLS prenup customers
- Average time from prenup order to wedding is 69 days
- Top items in prenups: protection of separate property, alimony, and property division
LZ Legal Services offers attorney-assisted prenups for a flat fee of $1,499, potentially saving couples money compared to traditional divorce costs.
LegalZoom (Nasdaq: LZ) reported its Q2 2024 financial results, highlighting a 5% year-over-year revenue increase to $177.4 million. Subscription revenue grew 6% to $108.8 million, while transaction revenue rose 4% to $68.5 million. The company announced three execution priorities to reaccelerate growth and enhance margins, including a focus on accelerating subscriptions and a broader go-to-market strategy. LegalZoom also revealed a restructuring plan, reducing its global workforce by 15% and expecting $25 million in annualized savings. Despite these changes, the company is reiterating its full-year revenue outlook of $675-$685 million and adjusted EBITDA of $135-$145 million.
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