M&A - LEGALZOOM.COM, INC.

Form Type: 10-Q

Filing Date: 2025-05-08

Corporate Action: Acquisition

Type: Update

Accession Number: 000128613925000059

Filing Summary: LegalZoom.com, Inc. filed its quarterly report on Form 10-Q for the three months ended March 31, 2025. The company reported revenue of $183.1 million, compared to $174.2 million in the prior year. The gross profit for the quarter was $116.6 million. LegalZoom's operating expenses increased due to higher sales and marketing costs, amounting to $107.6 million, which includes a gain of $14.3 million from the sale of assets held for sale. The net income for the quarter was reported at $5.1 million, with earnings per share of $0.03. The company's balance sheet reflects total assets of $532.7 million and stockholders’ equity of $187.2 million. A key factor in this report is the recent acquisition of Formation Nation, Inc., which contributed to an increase in goodwill on the balance sheet. LegalZoom emphasizes risks related to their dependence on market competition and customer retention, as well as the impact of incorporating AI into their services. The report also outlines their operational challenges, including managing growth and financial reporting controls.

Form Type: 8-K

Filing Date: 2025-04-01

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525070388

Filing Summary: On March 31, 2025, LegalZoom.com, Inc. closed the sale of its real property located at 9900 Spectrum Drive, Austin, Texas, to Round Rock Independent School District. This transaction was executed through its wholly owned subsidiary, 9900 Spectrum LLC, for an aggregate purchase price of $37,750,000 in cash. There were no material relationships between the Seller and LegalZoom, as well as their affiliates, and the Buyer, other than the sale of the Property.

Form Type: 8-K

Filing Date: 2025-02-10

Corporate Action: Acquisition

Type: New

Accession Number: 000128613925000014

Filing Summary: On February 10, 2025, LegalZoom.com, Inc. entered into a stock purchase agreement with Formation Nation, Inc. and its sellers to acquire 100% of the equity interests in Formation Nation for a total cash consideration of $64,750,000 and 2,205,445 restricted shares of its common stock. The shares are subject to a two-year lock-up and voting restrictions. The cash consideration includes holdbacks for indemnity obligations. Upon closing, Formation Nation became a wholly owned subsidiary of LegalZoom.