Legalzoom.com, Inc. Files Q3 2024 10-Q Report

TL;DR

Legalzoom Q3 2024 10-Q filed. Check financials.

AI Summary

Legalzoom.com, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Specific financial details and operational updates for this period are detailed within the report.

Why It Matters

This filing provides investors and stakeholders with the latest financial performance and operational status of Legalzoom.com, Inc. for the third quarter of 2024.

Risk Assessment

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

Key Numbers

• Q3 2024 — Reporting Period (Covers the third quarter of the fiscal year.)
• Nine Months Ended September 30, 2024 — Year-to-Date Period (Covers the first nine months of the fiscal year.)

Key Players & Entities

• LEGALZOOM.COM, INC. (company) — Filer
• 20240930 (date) — Period of Report
• 20241106 (date) — Filing Date
• 954 VILLA STREET, MOUNTAIN VIEW, CA 94041 (address) — Business and Mail Address

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-20240930.htm (10-Q) — 1371KB
• ex-311lzx2024093010xq.htm (EX-31.1) — 10KB
• ex-312lzx2024093010xq.htm (EX-31.2) — 10KB
• ex-321lzx2024093010xq.htm (EX-32.1) — 8KB
• 0001286139-24-000117.txt ( ) — 5362KB
• lz-20240930.xsd (EX-101.SCH) — 34KB
• lz-20240930_cal.xml (EX-101.CAL) — 59KB
• lz-20240930_def.xml (EX-101.DEF) — 141KB
• lz-20240930_lab.xml (EX-101.LAB) — 425KB
• lz-20240930_pre.xml (EX-101.PRE) — 276KB
• lz-20240930_htm.xml (XML) — 604KB

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 20 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 38 Part II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A .

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 61 Item 3. Defaults Upon Senior Securities 61 Item 4. Mine Safety Disclosures 61 Item 5. Other Information 62 Item 6. Exhibits 62

Signatures

Signatures 63 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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 112,477 $ 225,719 Accounts receivable, net of allowances of $ 3,015 and $ 4,906 , respectively 11,518 11,738 Prepaid expenses and other current assets 20,491 15,159 Current assets held for sale 22,722 22,722 Total current assets 167,208 275,338 Property and equipment, net 59,692 48,232 Goodwill 63,318 63,318 Intangible assets, net 9,919 13,735 Operating lease right-of-use assets 7,352 8,518 Deferred income taxes 31,734 29,015 Available-for-sale debt securities 1,386 1,159 Other assets 8,232 8,503 Total assets $ 348,841 $ 447,818 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 27,922 $ 32,282 Accrued expenses and other current liabilities 57,027 61,678 Deferred revenue 185,795 167,951 Operating lease liabilities 1,876 2,052 Total current liabilities 272,620 263,963 Operating lease liabilities, non-current 6,171 6,966 Deferred revenue 427 490 Other liabilities 9,485 7,565 Total liabilities $ 288,703 $ 278,984 Commitments and contingencies (Note 6) Stockholders' equity: Preferred stock, $ 0.001 par value; 100,000 shares authorized at September 30, 2024 and December 31, 2023, none issued or outstanding at September 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value; 1,000,000 shares authorized; 173,174 shares and 188,538 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 174 189 Additional paid-in capital 1,140,852 1,101,474 Accumulated deficit ( 1,079,917 ) ( 933,061 ) Accumulated other comprehensive (loss) income ( 971 ) 232 Total stockholders' equity 60,138 168,834 Total liabilities and stockholders' equity $ 348,841 $ 447,818 The accompanying notes are an integra

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