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 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.
LegalZoom (Nasdaq: LZ) is promoting National Make-A-Will Month this August with exclusive estate plan offers. New customers can get 10% off, while existing customers receive 20% off from August 1-31. The company aims to encourage Americans to finalize their estate plans, as a 2024 Caring.com survey revealed only 32% of Americans have estate plans.
LegalZoom, the trusted leader in online estate plans, has created over 4 million estate planning products, including 1.7 million personal last wills. The company offers free unlimited revisions for the first 30 days or one year, depending on the plan. Premium plans include unlimited 30-minute consultations with experienced attorneys.
CEO Jeff Stibel emphasizes the importance of estate planning for everyone, regardless of financial status. LegalZoom's comprehensive estate plans cover last wills, living trusts, financial power of attorney, and advance healthcare directives.
LegalZoom.com, Inc. (Nasdaq: LZ), the leading online platform for business formation in the United States, has announced it will report its financial results for the second quarter ended June 30, 2024 on Wednesday, August 7, 2024, after market close. The company will host a conference call and webcast at 4:30 p.m. ET the same day to discuss the results.
Key details for the conference call include:
- Date: Wednesday, August 7, 2024
- Time: 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time)
- Webcast: Available at https://edge.media-server.com/mmc/p/ikog4cr5/
- Dial-in: (800) 715-9871 (USA & Canada), (646) 307-1963 (International)
- Conference ID: 4382883
A replay of the webcast will be available on the LegalZoom Investor Relations website following the live event.
LegalZoom has announced that Jeffrey Stibel, the current Chairman, will become the new CEO, effective immediately. John Murphy is named the Lead Independent Director. Dan Wernikoff, the outgoing CEO, is stepping down from his role and the Board. This leadership transition aligns with LegalZoom’s strategy to enhance subscription-based revenue for long-term growth.
Stibel, with extensive experience in subscription businesses, has been a key board member since 2014 and has a strong track record in scaling companies. Under his leadership, the company aims to continue its disruption of the legal and compliance services industry.
For Q2 2024, LegalZoom forecasts revenue between $172 million and $176 million and Adjusted EBITDA between $25 million and $27 million. However, the company has revised its full-year revenue expectations down to $675 million to $685 million and free cash flow to $75 million to $85 million.
LegalZoom, a leading online platform for small business formations, has partnered with BusinessLoans.com to offer streamlined access to capital for small business owners. This collaboration addresses a critical need, as 38% of small businesses fail due to insufficient capital. LegalZoom customers can now access various funding options such as secured loans, business credit cards, and credit-building products directly through the LegalZoom platform. This partnership aims to simplify the loan application process and provide personalized funding solutions, enhancing the financial foundation for small businesses and facilitating their growth.
FAQ
What is the current stock price of LegalZoom.com (LZ)?
What is the market cap of LegalZoom.com (LZ)?
What services does LegalZoom.com, Inc. offer?
How many people has LegalZoom helped since its founding?
What is the Beneficial Ownership Information Report service?
Who are the notable partners in the Fast Break for Small Business grant program?
What recent financial achievements did LegalZoom report?
Is LegalZoom offering shares in the recent Secondary Offering?
How does LegalZoom support small businesses?
What is the mission of LegalZoom?
How does LegalZoom ensure compliance with federal laws?
What growth strategies is LegalZoom focusing on for 2024?
