LegalZoom.com, Inc. Files Q2 2024 10-Q Report

TL;DR

LegalZoom dropped its Q2 10-Q, check financials for latest performance.

AI Summary

LegalZoom.com, Inc. filed its 10-Q report for the period ending June 30, 2024. The filing covers the second quarter and the first six months of the fiscal year. Key financial data and operational details for LegalZoom.com, Inc. are presented in this report.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for LegalZoom.com, Inc., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Players & Entities

• LEGALZOOM.COM, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240807 (date) — Filing Date

FAQ

Key Financial Figures

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

Filing Documents

• lz-20240630.htm (10-Q) — 1298KB
• ex-311lzx2024063010xq.htm (EX-31.1) — 10KB
• ex-312lzx2024063010xq.htm (EX-31.2) — 10KB
• ex-321lzx2024063010xq.htm (EX-32.1) — 8KB
• 0001286139-24-000093.txt ( ) — 5192KB
• lz-20240630.xsd (EX-101.SCH) — 33KB
• lz-20240630_cal.xml (EX-101.CAL) — 59KB
• lz-20240630_def.xml (EX-101.DEF) — 137KB
• lz-20240630_lab.xml (EX-101.LAB) — 416KB
• lz-20240630_pre.xml (EX-101.PRE) — 272KB
• lz-20240630_htm.xml (XML) — 573KB

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 36 Item 4.

Controls and Procedures

Controls and Procedures 37 Part II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A .

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 60 Item 3. Defaults Upon Senior Securities 60 Item 4. Mine Safety Disclosures 60 Item 5. Other Information 60 Item 6. Exhibits 61

Signatures

Signatures 62 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) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 118,795 $ 225,719 Accounts receivable, net of allowances of $ 3,776 and $ 4,906 , respectively 15,347 11,738 Prepaid expenses and other current assets 22,414 15,159 Current assets held for sale 22,722 22,722 Total current assets 179,278 275,338 Property and equipment, net 57,136 48,232 Goodwill 63,318 63,318 Intangible assets, net 11,194 13,735 Operating lease right-of-use assets 7,212 8,518 Deferred income taxes 31,396 29,015 Available-for-sale debt securities 1,374 1,159 Other assets 8,607 8,503 Total assets $ 359,515 $ 447,818 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 34,247 $ 32,282 Accrued expenses and other current liabilities 58,020 61,678 Deferred revenue 189,146 167,951 Operating lease liabilities 1,630 2,052 Total current liabilities 283,043 263,963 Operating lease liabilities, non-current 6,255 6,966 Deferred revenue 452 490 Other liabilities 9,003 7,565 Total liabilities $ 298,753 $ 278,984 Commitments and contingencies (Note 6) Stockholders' equity: Preferred stock, $ 0.001 par value; 100,000 shares authorized at June 30, 2024 and December 31, 2023, none issued or outstanding at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value; 1,000,000 shares authorized; 176,108 shares and 188,538 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 177 189 Additional paid-in capital 1,125,942 1,101,474 Accumulated deficit ( 1,066,035 ) ( 933,061 ) Accumulated other comprehensive income 678 232 Total stockholders' equity 60,762 168,834 Total liabilities and stockholders' equity $ 359,515 $ 447,818 The accompanying notes are an integral part of these unaudited cond

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View this 10-Q filing on SEC EDGAR