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Jun 30, 2024
LegalZoom Q2 2024 Earnings Report
LegalZoom's financial performance remained relatively stable, with slight decreases in key profitability metrics and strategic restructuring announced.
Key Takeaways
LegalZoom reported a 5% increase in revenue, reaching $177.4 million, driven by growth in both transaction and subscription revenues. Net income remained nearly flat at $1.3 million. The company announced restructuring efforts to drive annualized savings of approximately $25 million.
Total revenue increased by 5% year-over-year to $177.4 million.
Subscription revenue grew 6% year-over-year, reaching $108.8 million.
Net income was $1.3 million, consistent with the same period last year.
Restructuring efforts announced, expected to yield $25 million in annualized savings.
Revenue by Segment
Forward Guidance
LegalZoom expects revenue between $165 million and $169 million and Adjusted EBITDA between $39 million and $41 million for the third quarter ending September 30, 2024. For the full year 2024, LegalZoom reiterates revenue guidance in the range of $675 million to $685 million, Adjusted EBITDA in the range of $135 million to $145 million, and Free cash flow in the range of $75 million to $85 million.
Positive Outlook
- Revenue is expected to be in the range of $675 million to $685 million.
- Adjusted EBITDA is expected to be in the range of $135 million to $145 million.
- Free cash flow in the range of $75 million to $85 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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