LegalZoom.com, Inc. - LZ STOCK NEWS

LegalZoom.com, Inc. (NASDAQ: LZ) will disclose its first quarter financial results for the period ending March 31, 2022, on May 12, 2022, after market close. The CEO, Dan Wernikoff, and CFO, Noel Watson, will host a conference call at 4:30 p.m. EST to discuss these results. A live audio webcast will be accessible via the company’s Investor Relations website, with an archived replay available for three months post-event. LegalZoom provides essential legal solutions across the U.S., helping businesses navigate legal complexities efficiently.

LegalZoom reported a fourth quarter revenue of $142.1 million, up 16% year-over-year, with full year revenue reaching $575 million, a 22% increase. The company completed 447,000 business formations in 2021, up 18% from 2020. Subscription revenue rose by 29% to $80.7 million with a total of 1.329 million subscription units. However, the company suffered a net loss of $20.8 million for the quarter and $108.6 million for the year, mainly due to increased stock-based compensation. The Board approved a $150 million share repurchase program to enhance shareholder value.

LegalZoom has appointed Sivan Whiteley as a new board member, effective March 18, 2022. Whiteley, currently the Chief Legal Officer at Block, Inc., brings extensive experience in legal, regulatory, and compliance fields, particularly within regulated industries. Her insights are expected to support LegalZoom in advancing its mission to assist small business owners. The board undergoes a governance rotation, with two current members stepping down, ensuring fresh perspectives and strengthening leadership during a critical growth phase.

LegalZoom.com, Inc. (NASDAQ: LZ) will announce its fourth quarter and fiscal year 2021 financial results on March 10, 2022, post-market. CEO Dan Wernikoff and CFO Noel Watson will conduct a conference call at 4:30 p.m. EST to discuss the results. A live audio webcast will be accessible on their Investor Relations website, with an archived replay available for three months. LegalZoom is recognized for democratizing legal services in the U.S., facilitating 10% of new LLCs and 5% of new corporations in 2020, while providing legal compliance solutions across all 50 states.

LegalZoom (NASDAQ: LZ) has launched a three-year initiative, the Fast Break for Small Business, in partnership with the NBA, WNBA, and NBA G League. This program will distribute $6 million in grants, alongside LegalZoom services, to support small businesses, particularly those owned by marginalized communities. In the first round, 50 businesses were selected from over 11,000 applicants, receiving $10,000 each. The initiative aims to empower underserved small business owners across 27 states through critical resources and capital.

LegalZoom (NASDAQ: LZ) has announced upcoming investor conference presentations featuring CEO Dan Wernikoff and CFO Noel Watson. Wernikoff will present at the Credit Suisse Annual Technology Conference on November 30, 2021, and the Barclays Global Technology, Media, and Telecommunications Conference on December 7, 2021. Watson will present at the Raymond James Annual Technology Conference on December 8, 2021. Live webcasts will be available on LegalZoom's investor relations website, with archived replays accessible for a limited time.

LegalZoom reported a third-quarter revenue of $147.9 million, marking a 12% year-over-year increase. Transaction revenue grew by 5% to $66.9 million, while subscription revenue surged 24% to $73.3 million, driven by 1,264,000 subscription units. However, the company faced a net loss of $39.7 million, a significant decline from a net income of $9.4 million in Q3 2020. Adjusted EBITDA dropped to $15.1 million, down 45% year-over-year. Looking ahead, revenue guidance for Q4 is projected between $142 million and $146 million.

LegalZoom, a leader in online small business formations, announced the acquisition of Earth Class Mail, enhancing its subscription services. This strategic move aims to streamline operations for small businesses, which increasingly rely on automation. Earth Class Mail offers a virtual mailbox solution that is accessible 24/7, allowing users to manage their postal mail efficiently. LegalZoom will integrate this service to improve the user experience for business formation and compliance, positioning itself to meet the growing demand for professional management tools in a remote work environment.

LegalZoom (NASDAQ: LZ) has partnered with Amazon Business to offer exclusive savings on business formation services for small business owners who are Business Prime members. This collaboration aims to streamline the process of registering as an LLC or corporation, addressing a top need among small business customers. The offer will be available at the end of November, enhancing accessibility to vital legal and compliance services. LegalZoom emphasizes its commitment to helping entrepreneurs achieve financial independence through a robust ecosystem of curated services.