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. (LZ) provides essential online legal solutions for businesses and individuals through its technology-driven platform. This news hub offers investors and stakeholders timely updates on corporate developments, financial performance, and strategic initiatives shaping the legal services sector.
Access official press releases detailing LZ's business expansions, partnership announcements, and service innovations. Track quarterly earnings reports, regulatory filings, and leadership updates that impact the company's market position. Our curated collection ensures you stay informed about key developments in business formation services, compliance solutions, and legal technology advancements.
Discover updates spanning corporate financial results, strategic acquisitions, and product enhancements within LZ's core offerings. The resource serves investors analyzing growth potential, businesses monitoring legal tech trends, and professionals tracking regulatory changes. Bookmark this page for streamlined access to material information about one of legal tech's most influential platforms.
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.
LegalZoom (NASDAQ: LZ) has partnered with Brex, Intuit QuickBooks, and Square to enhance services for small business owners. Research indicates that 91% of startups lack payroll, and 85% require payment processing and banking solutions. This ecosystem enables small businesses to access essential services, including expedited business accounts with Brex, accounting tools from QuickBooks, and POS systems from Square. LegalZoom aims to simplify the service acquisition process while providing preferential pricing and seamless integration with legal, compliance, and tax solutions.
LegalZoom has partnered with Square to enhance payment processing tools for small businesses. This collaboration provides LegalZoom customers with access to best-in-class POS payment software and versatile operations management tools, enabling effective business management and growth. Upon forming their business, customers can benefit from preferential pricing on Square's offerings. This initiative aims to empower small business owners by simplifying complex aspects of ownership like payment processing and compliance.
LegalZoom (LZ) will announce its third quarter financial results for the period ending September 30, 2021, on November 10, 2021, after market close. The CEO Dan Wernikoff and CFO Noel Watson will host a conference call at 4:30 p.m. EST to discuss the results. Investors can access a live audio webcast via the Investor Relations website, with a replay available for three months post-event. LegalZoom aims to simplify legal processes for small businesses and families, having formed 10% of all new LLCs in the U.S. in 2020.
LegalZoom (NASDAQ: LZ) partners with the NBA to launch the "Fast Break for Small Business" initiative, providing $6 million in grants and services aimed at supporting small businesses, particularly those owned by minorities, women, immigrants, and LGBTQ+ individuals. The program intends to address disparities in access to resources faced by underrepresented communities and opens applications until November 23, 2021. Grants will be awarded biannually for three years, with the first recipients announced in early 2022.
LegalZoom's subsidiary, LZ Legal Services, has received an Alternative Business Structure (ABS) license from the Arizona Supreme Court. This milestone aims to expand access to affordable legal services and enhance technological innovation in the sector. The move positions LegalZoom to directly offer limited legal services to individuals and small businesses, thereby increasing opportunities for independent attorneys. With significant disparities between legal and financial service adoption of technology, this reform is expected to democratize the legal landscape, making law more accessible for all.
LegalZoom (NASDAQ: LZ) has partnered with Defy Ventures to support formerly incarcerated individuals in becoming entrepreneurs. The initiative aims to address systemic inequities and reduce recidivism rates, which are disproportionately high among minority communities. LegalZoom will provide funding for educational programs, resources for starting businesses, and access to legal tools at no cost. This partnership is part of LegalZoom's broader mission to democratize law and increase access to business ownership for underrepresented groups.
LegalZoom (NASDAQ: LZ) has partnered with the University of Southern California (USC) Marshall School of Business to enhance opportunities at the Brittingham Social Enterprise Lab (BSEL). This partnership includes a $30,000 scholarship for students in the Master of Science in Social Entrepreneurship program and connections for internships, mentorships, and employment. Graduates starting their own ventures will receive up to $5,000 in free services from LegalZoom. This initiative aims to empower social entrepreneurs to tackle societal issues effectively.
LegalZoom.com reported a 36% year-over-year revenue growth in Q2 2021, reaching $150.4 million. Transaction revenue surged 45% to $73.4 million, with business formations up 34%. Subscription revenue climbed 29% to $69.4 million, with 1.2 million units outstanding. However, the company incurred a net loss of $38.4 million, significantly higher than last year. Adjusted EBITDA stood at $22.0 million, down from $20.3 million year-over-year. For Q3 2021, revenue guidance is between $143 million and $147 million.
