LegalZoom Announces Sale of Austin, Texas Facility for Approximately $38 Million in Cash

Opens new leased office locations in Austin and Los Angeles to foster collaboration and innovation

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- LegalZoom.com, Inc. (Nasdaq: LZ), a leading online platform for legal services, today announced the sale of its previously owned office building as of March 31, for approximately $38 million in cash.

The company also announced the opening of new leased office spaces in Austin, Texas, and Sherman Oaks, California, designed to better align with the company’s current needs. The moves underscore LegalZoom’s commitment to a strong balance sheet and fostering collaboration, innovation, and employee engagement as the company continues to build its presence in these key markets.

“The sale of our Austin facility bolsters our cash position and increases flexibility as it relates to our capital allocation strategy. Looking ahead, we will continue to balance investments in our business to support our strategic growth plans alongside opportunistically returning value to shareholders in the form of share repurchases,” said Noel Watson, Chief Operating Officer and Chief Financial Officer at LegalZoom.

LegalZoom’s footprint now includes offices in Mountain View, CA; Frisco, TX; Las Vegas, NV; Reno, NV; Bengaluru, India; and Krakow, Poland.

“With the sale of our Austin office and opening of two leased spaces, we were able to increase our cash position while driving meaningful, in-person interactions to build connections and improve overall engagement,” said Sheily Chhabria Panchal, Chief People Officer at LegalZoom. “Our new offices support our flexible-first and onsite employees, fostering relationship-building and collaboration.”

For more information on career opportunities at LegalZoom, visit legalzoom.com/careers.

About LegalZoom

LegalZoom is a leading online platform for legal services, transforming how individuals and small businesses navigate the legal system. By combining intuitive technology with access to experienced attorneys—whether through our vast independent attorney network or the LegalZoom-owned law firm—we offer the tools and guidance people need to confidently manage everything from business formations and compliance to estate planning and ongoing legal support.

With over two decades of experience and millions of customers served, LegalZoom helps individuals and small businesses navigate legal needs with confidence. For more information, visit www.legalzoom.com.

Forward-Looking Statements

This press release contains forward-looking statements. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to, the Company’s ability to support our strategic growth plans and return value to stockholders.

The forward-looking statements in this press release are only predictions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to, the factors discussed in the section titled “Risk Factors” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission on February 26, 2025, as well as any factors contained in the Company’s subsequent filings with the Securities and Exchange Commission. The forward-looking statements in this press release are based upon information available to the Company as of the date of this press release, and while the Company believes such information forms a reasonable basis for such statements, such information may be limited or incomplete, and the Company’s statements should not be read to indicate that it has conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

The Company qualifies all of its forward-looking statements by these cautionary statements. Except as required by applicable law, the Company does not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.

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Investor Relations

investor@legalzoom.com

Press

press@legalzoom.com

Source: LegalZoom.com, Inc.

FAQ

How much did LegalZoom (LZ) sell its Austin office building for?

LegalZoom sold its Austin office building for approximately $38 million in cash, with the transaction completed on March 31.

Where are LegalZoom's (LZ) new office locations in 2024?

LegalZoom has opened new leased office spaces in Austin, Texas and Sherman Oaks, California.

What will LegalZoom (LZ) do with the proceeds from the Austin office sale?

The company plans to balance investments in business growth with opportunistic share repurchases to return value to shareholders.

How many office locations does LegalZoom (LZ) currently maintain?

LegalZoom maintains offices in six locations: Mountain View, CA; Frisco, TX; Las Vegas, NV; Reno, NV; Bengaluru, India; and Krakow, Poland.