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

LegalZoom.com (NASDAQ: LZ) reported Q2 2022 revenue of $163.9 million, a 9% increase year-over-year. Subscription revenue surged 32% to $91.3 million, while transaction revenue fell 9% to $66.5 million. With a cash position of $215.5 million and no debt, the company achieved a net loss of $13.2 million. Adjusted EBITDA was $17.8 million, representing an 11% margin. The guidance for 2022 was revised, lowering revenue expectations to $612 million to $616 million. Adjusted EBITDA guidance increased to $55 million.

LegalZoom.com (NASDAQ: LZ) will announce its second-quarter financial results for the period ending June 30, 2022, on August 11, 2022, after the market closes. The conference call will be hosted by CEO Dan Wernikoff and CFO Noel Watson at 4:30 p.m. EST to discuss the results. Investors can register for the call through the provided link, and a live webcast will be accessible on the LegalZoom Investor Relations website. An archived replay of the webcast will also be available for three months post-event.

LegalZoom has launched its new creative campaign, “Now You’re in Business,” in partnership with agency 72andSunny New York, featuring actor Sam Richardson. The campaign aims to empower prospective small business owners by providing them motivation to start their businesses. It showcases various entrepreneurs on the brink of launching their ventures, with ads appearing on TV, social media, and digital platforms throughout the year. LegalZoom is adapting to the evolving landscape of small businesses, responding to trends like globalization and the gig economy.

LegalZoom.com reported a 15% year-over-year revenue increase for Q1 2022, totaling $154.2 million. Subscription revenue surged 29% to $84.4 million, with a net addition of 33,000 subscription units. However, the company posted a net loss of $30.6 million, a significant rise from last year, mainly due to higher operating expenses and a decline in gross margin to 64%. Cash reserves stand at $247.5 million with no debt. The guidance for Q2 expects revenue between $162-$164 million.

LegalZoom (NASDAQ: LZ) has partnered with the Los Angeles Sparks to empower women entrepreneurs through initiatives like Fast Break For Small Business, providing $6 million in grants and services. This marks LegalZoom's first WNBA partnership, aiming to address disparities in underserved communities. The campaign Small Business Champions, launching in June, will recognize and support women-led businesses in Southern California. Applications for grants are open until May 27, 2022.

Wix.com Ltd (NASDAQ: WIX) has partnered with LegalZoom.com, Inc (NASDAQ: LZ) to support small business owners in creating and managing their online presence. This collaboration will integrate services allowing entrepreneurs to form their businesses legally in the U.S. while building their website simultaneously. LegalZoom's legal and compliance tools combined with Wix's website-building capabilities aim to streamline small business startups, providing tailored solutions at various stages of business development. The joint offering is expected to launch in the second half of 2022.

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.