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 (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.
LegalZoom.com announced on May 22, 2024, that its Board of Directors has authorized an additional $75 million increase to the existing stock repurchase program, raising the total authorization to $175 million. As of May 21, 2024, LegalZoom has repurchased approximately 5.9 million shares at an average price of $10.10 per share, totaling around $59 million, leaving $116 million available for future repurchases. CEO Dan Wernikoff emphasized that this move aligns with the company's balanced capital allocation strategy, driven by strong cash generation. The repurchase program’s execution will depend on market conditions and other factors, and it has no fixed expiration date.
LegalZoom has announced that CEO Dan Wernikoff and CFO Noel Watson will participate in two upcoming investor conferences: the Jefferies Software Conference on May 29-30, 2024, in Newport Beach, CA, and the William Blair 44th Annual Growth Stock Conference on June 4-6, 2024, in Chicago, IL. The company will present on May 29 at 1:00 p.m. PT and will hold investor meetings during both events. A live audio webcast and replay of the Jefferies Software Conference will be accessible on LegalZoom's Investor Relations website.
LegalZoom is a leader in online small business formations and offers a variety of legal, tax, and compliance products for small business owners. The company's mission is to make entrepreneurship accessible to everyone.
LegalZoom reported strong financial results for the first quarter of 2024, with a revenue of $174.2 million, up 5% year-over-year. The company has $228.1 million in cash and cash equivalents with no outstanding debt as of March 31, 2024. LegalZoom's CEO highlighted the momentum seen in their ecosystem, driven by new compliance offerings and technology platform innovations. Despite a weaker macro environment, the company exceeded revenue and adjusted EBITDA expectations, achieving 28% growth year-over-year.
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