Legalzoom.Com, Inc. Stock Price, News & Analysis

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.

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.