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    LEGALZOOM.COM (LZ)

    LegalZoom.com, Inc. (LZ) is a leading online platform in the United States that specializes in simplifying legal, tax, accounting, and compliance processes for small businesses and their families. The company provides a range of services, including business formation, ongoing legal and compliance support, and tax solutions, leveraging technology to enhance customer experience. LegalZoom's offerings are designed to empower entrepreneurs and small businesses by making complex processes more accessible and efficient.

    1. Subscription-Based Services - Provides ongoing legal, tax, and compliance support to small businesses, including tools like registered agent services, business licenses, and beneficial ownership information reports.

      • Sub-products:
        • LZ Books - An online accounting tool tailored for small businesses.
        • eSignature Services - Enables businesses to manage document signing digitally.
    2. Transaction-Based Services - Offers business formation services, assisting entrepreneurs in forming businesses across all 50 U.S. states and over 3,000 counties by filing necessary legal documents.

    3. Tax and Accounting Solutions - Includes tax advisory and preparation services, along with accounting tools to support small business financial needs.

    4. Technology-Driven Offerings - Features innovative tools like Doc Assist, a generative AI-powered document summarization tool, and a redesigned customer portal, myLZ, to improve user experience.

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    NamePositionExternal RolesShort Bio

    Jeff Stibel

    ExecutiveBoard

    CEO and Chair of the Board

    Partner at Bryant Stibel & Company

    Jeff Stibel became CEO of LegalZoom in July 2024 and has been Chair of the Board since October 2018. He has extensive experience scaling subscription-based businesses and previously served as Vice Chairman of Dun & Bradstreet.

    View Report →

    Nicole Miller

    Executive

    Chief Legal Officer & Secretary

    Board Member at Defy Ventures, Inc.

    Nicole Miller has been with LegalZoom since June 2020, serving as CLO since March 2024. She has a background in corporate law and previously worked at The Honest Company and Cooley LLP.

    Noel Watson

    Executive

    CFO and COO

    Board Member at Affirm Holdings, Inc.

    Noel Watson joined LegalZoom as CFO in November 2020 and was appointed COO in August 2024. He has driven financial growth and operational efficiencies, including a 74% YoY increase in Adjusted EBITDA margin in 2023.

    Elizabeth Hamren

    Board

    Director

    CEO of Ring, Inc.; Board Member at Hasbro, Inc.

    Elizabeth Hamren joined LegalZoom's Board in 2021. She is the CEO of Ring, Inc. and has held leadership roles at Discord, Microsoft, and Meta Platforms, focusing on technology and digital products.

    John Murphy

    Board

    Director

    Board Member at Pure Storage, Inc. and Roper Technologies, Inc.

    John Murphy joined LegalZoom's Board in 2021. He is a financial expert with prior CFO roles at Adobe and DIRECTV, and he chairs the Audit Committee at Pure Storage.

    Nathan Gooden

    Board

    Director

    CFO at Squarespace, Inc.

    Nathan Gooden joined LegalZoom's Board in November 2024. He is the CFO of Squarespace and has extensive experience in subscription-based businesses, including prior roles at Amazon Alexa and Solavei.

    1. Given the competitive landscape where some companies offer free or lower-priced formation services, how do you anticipate your recent price increases on key products like registered agent services impacting your market share and customer acquisition efforts?
    2. With your strategic shift from focusing on market share to quality share by targeting higher-intent customers, how will this affect your overall growth and revenue projections, especially in the face of declining business formations and increased competition?
    3. Considering the macro environment showing consecutive declines in business formations, what specific measures are you taking to mitigate the impact on transaction revenues, and how confident are you in your ability to achieve a rebound in 2025?
    4. Can you elaborate on your AI strategy, particularly how you plan to leverage your extensive legal documents and formation data to drive efficiencies or generate new revenue streams, and what is the expected timeline for realizing these benefits?
    5. As you reinvest in the consumer channel after years of focusing on SMBs, how do you plan to balance the necessary investment with your current goals of profitability and margin expansion, and what are your expectations for the consumer segment's contribution to future revenues?
    Program DetailsProgram 1Program 2Program 3
    Approval DateOctober 2023 May 2024 November 2024
    End Date/DurationNo fixed expiration No fixed expiration No fixed expiration
    Total Additional ($M)100.0 75.0 40.0
    Remaining ($M)0.0 0.0 12.3
    DetailsOpportunistic repurchase as part of balanced capital allocation Opportunistic repurchase as part of balanced capital allocation Opportunistic repurchase as part of balanced capital allocation

    Notes:

    • The remaining authorization amount of $12.3 million is allocated to Program 3, as it is the newest program, based on the allocation rules provided.
    • All programs have no fixed expiration and can be modified, suspended, or terminated at the discretion of the board of directors.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Formation Nation

    2025

    Deal value: LegalZoom paid $49.3 million cash upfront with up to an additional $15.4 million holdback and issued about 2.2 million restricted shares, subject to a two-year lock-up. Strategic rationale: The acquisition enhances LegalZoom's go-to-market strategy by integrating Formation Nation’s premium and low-cost brand portfolio along with its customer service expertise from 140 small business experts.

    Revvsales, Inc. (Revv)

    2022

    Deal value: Completed for $8.5 million paid in cash with customary purchase price adjustments. Strategic rationale: The acquisition bolsters LegalZoom’s legal template offerings by adding a self-service document automation and e-signature platform, modernizing product experiences and establishing a talent foothold in Bangalore to drive an integrated SMB ecosystem.

    United Agent Services Corp (UA Services)

    2022

    Deal value: Acquired for a total of $3.5 million, structured with $2.6 million cash at acquisition, up to $1.0 million contingent earnout, plus an additional $0.4 million linked to service conditions. Strategic rationale: The acquisition is aimed at building a durable registered agency platform, with goodwill of $3.3 million driven by its workforce and synergies, and it is treated as a business combination for accounting purposes.

    Recent press releases and 8-K filings for LZ.

    LEGALZOOM.COM Discusses Strategic Shifts, AI Integration, and Financial Outlook at Citi Conference
    ·$LZ
    Revenue Acceleration/Inflection
    M&A
    New Projects/Investments
    • LegalZoom is strategically re-emphasizing its subscription business, which has shown accelerated 10% growth, and is leveraging augmented intelligence (AI) to enhance expert efficiency and expand its total addressable market.
    • The company is moving upmarket with "do it for me" (DIFM) products and diversifying its market focus beyond small business formations to reduce dependence on a single macro.
    • The recent Formation Nation acquisition was an accretive deal that provides a second brand for the lower-end market, aligns with LegalZoom's strategic pillars, and brought 120 experts.
    • LegalZoom has raised its 2025 revenue guidance while reiterating its margin target around 23%, supported by a strong balance sheet with over $200 million in cash and no debt, enabling continued share buybacks and opportunistic M&A.
    3 days ago
    LegalOn Technologies Appoints New Chief Product Officer and Highlights Growth
    ·$LZ
    Management Change
    New Projects/Investments
    Revenue Acceleration/Inflection
    • LegalOn Technologies has appointed Vanessa Butnick Davis as its new Chief Product Officer, who will lead the company's global product vision, strategy, and roadmap, including the development of agentic legal AI.
    • This appointment follows LegalOn's recent $50 million Series E funding round, led by Goldman Sachs, which brings the company's total funding to $200 million.
    • Over the past year, LegalOn has experienced significant growth, quadrupling its business in the US and UK and surpassing 7,000 customers globally.
    Aug 28, 2025, 12:00 PM
    LegalZoom.com Inc Announces Q2 2025 Results and FY25 Guidance
    ·$LZ
    Earnings
    Guidance Update
    Revenue Acceleration/Inflection
    • LegalZoom reported GAAP Revenue of $193 million for Q2 2025, an increase of 9% year-over-year.
    • The company's Adjusted EBITDA for Q2 2025 was $39 million, representing a 20% margin and a 400 basis point improvement year-over-year.
    • For Q3 2025, LegalZoom expects Total Revenue between $182 million and $184 million and Adjusted EBITDA between $44 million and $46 million.
    • LegalZoom also provided full-year 2025 guidance, projecting approximately 8% year-over-year revenue growth and an Adjusted EBITDA margin of approximately 23%, with an expectation of double-digit subscription revenue growth in the second half.
    Aug 7, 2025, 8:30 PM
    LegalZoom Reports Strong Q1 2025 Earnings Results
    ·$LZ
    Earnings
    Guidance Update
    M&A
    Share Buyback
    • LegalZoom reported $183 million in Q1 2025 revenue, up 5% YoY, driven by strong subscription performance with $116 million in subscription revenue (up 8% YoY) .
    • The quarter delivered $37.0 million in Adjusted EBITDA at a 20% margin and $5.1 million in net income (3% margin) .
    • Formation Nation integration contributed approximately $8.6 million in revenue, advancing LegalZoom’s shift toward higher-value, subscription-based services .
    • Guidance remains robust with full-year revenue growth at 5%, an expected adjusted EBITDA margin of 23% (around $165 million), and a Q2 revenue forecast between $181 million and $185 million .
    • The company bolstered financial flexibility with an expanded share repurchase program, including a $100 million increase in share repurchase authorization .
    • LegalZoom ended the quarter with $210 million in cash and cash equivalents, underpinning a strong balance sheet .
    May 7, 2025, 8:31 PM