LegalZoom.com, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>LegalZoom.com, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and business operations.</b>

AI Summary

LEGALZOOM.COM, INC. (LZ) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. LegalZoom.com, Inc. filed its quarterly report on Form 10-Q for the period ended March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. LegalZoom.com, Inc. is incorporated in Delaware. The company's principal business address is 954 Villa Street, Mountain View, CA 94041.

Why It Matters

For investors and stakeholders tracking LEGALZOOM.COM, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial results and operational updates for LegalZoom.com, Inc. for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health, growth trajectory, and potential risks.

Risk Assessment

Risk Level: medium — LEGALZOOM.COM, INC. shows moderate risk based on this filing. The filing is a standard 10-Q, which provides a snapshot of financial health but does not contain significant new information that would drastically alter risk assessment without further analysis of the detailed financial statements and risk factors.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q to identify any emerging trends or significant changes in LegalZoom.com, Inc.'s business operations or financial condition.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-07 — Filing Date (Date the report was filed)
• 2024-01-01 — Quarter Start Date (Beginning of the reporting period)
• 1231 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• LEGALZOOM.COM, INC. (company) — Filer name
• LZ (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-07 (date) — Filing date
• 954 Villa Street, Mountain View, CA 94041 (address) — Business address
• DE (state) — State of incorporation
• 7374 (sic_code) — Standard Industrial Classification
• 0001286139 (cik) — Central Index Key

FAQ

Industry Context

LegalZoom.com, Inc. operates in the online legal services sector, providing a platform for business formation, legal document creation, and compliance services.

Regulatory Implications

As a publicly traded company, LegalZoom.com, Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly reports on Form 10-Q.

What Investors Should Do

1. Analyze the revenue breakdown by segment (e.g., Subscription, Transaction) for Q1 2024.
2. Examine the Selling, General & Administrative (SG&A) and Cost of Sales figures for Q1 2024 compared to prior periods.
3. Review any disclosed risk factors or legal proceedings that may impact the company's future performance.

Key Dates

• 2024-03-31: Quarterly Period End — End date for the financial reporting period covered by the 10-Q.
• 2024-05-07: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for LegalZoom.com, Inc. in fiscal year 2024, providing updated financial and operational data compared to the previous year's Q1 results and the most recent annual report.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share LZ The Nasdaq Global Select M

Filing Documents

• lz-20240331.htm (10-Q) — 1019KB
• ex-311lzx2024033110xq.htm (EX-31.1) — 10KB
• ex-312lzx2024033110xq.htm (EX-31.2) — 10KB
• ex-321lzx2024033110xq.htm (EX-32.1) — 8KB
• 0001286139-24-000054.txt (&nbsp;) — 4765KB
• lz-20240331.xsd (EX-101.SCH) — 32KB
• lz-20240331_cal.xml (EX-101.CAL) — 57KB
• lz-20240331_def.xml (EX-101.DEF) — 152KB
• lz-20240331_lab.xml (EX-101.LAB) — 478KB
• lz-20240331_pre.xml (EX-101.PRE) — 310KB
• lz-20240331_htm.xml (XML) — 434KB

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements regarding our future results of operations and financial position, industry and business trends, stock compensation, business strategy, plans, market growth and our objectives for future operations. The forward-looking statements in this Quarterly Report on Form 10-Q are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those factors discussed below under "Summary of Risk Factors" and in Part II, Item 1A, "Risk Factors" and elsewhere in this Quarterly Report on Form 10-Q, as well as those factors in our subsequent filings w

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34 Part II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A .

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 57 Item 3. Defaults Upon Senior Securities 57 Item 4. Mine Safety Disclosures 57 Item 5. Other Information 57 Item 6. Exhibits 58

Signatures

Signatures 59 3 Table of Contents Part I

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) LegalZoom.com, Inc. Unaudited Condensed Consolidated Balance Sheets (In thousands, except par values) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 228,129 $ 225,719 Accounts receivable, net of allowances of $ 3,433 and $ 4,906 , respectively 15,726 11,738 Prepaid expenses and other current assets 17,914 15,159 Current assets held for sale 22,722 22,722 Total current assets 284,491 275,338 Property and equipment, net 53,154 48,232 Goodwill 63,318 63,318 Intangible assets, net 12,465 13,735 Operating lease right-of-use assets 7,895 8,518 Deferred income taxes 28,855 29,015 Available-for-sale debt securities 1,160 1,159 Other assets 8,407 8,503 Total assets $ 459,745 $ 447,818 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 34,150 $ 32,282 Accrued expenses and other current liabilities 52,569 61,678 Deferred revenue 187,547 167,951 Operating lease liabilities 1,831 2,052 Total current liabilities 276,097 263,963 Operating lease liabilities, non-current 6,645 6,966 Deferred revenue 486 490 Other liabilities 8,611 7,565 Total liabilities 291,839 278,984 Commitments and contingencies (Note 6) Stockholders' equity: Preferred stock, $ 0.001 par value; 100,000 shares authorized at March 31, 2024 and December 31, 2023, none issued or outstanding at March 31, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value; 1,000,000 shares authorized; 188,875 shares and 188,538 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 190 189 Additional paid-in capital 1,108,263 1,101,474 Accumulated deficit ( 941,075 ) ( 933,061 ) Accumulated other comprehensive income 528 232 Total stockholders' equity 167,906 168,834 Total liabilities and stockholders' equity $ 459,745 $ 447,818 The accompanying notes are an integral part of these unaudited conde

View Full Filing

View this 10-Q filing on SEC EDGAR