Legalzoom.com, Inc. · NASDAQ:LZ
Legalzoom.com — Investor Presentation (November 2025)
33 slides from Legalzoom.com's investor presentation, November 2025
Slide 1: Investor Presentation
November 2025 Investor Presentation
Slide 2: Forward-looking statements disclaimer
Forward-looking statements disclaimer This presentation 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 and Section 21E of the Securities
Slide 3: About non-GAAP financial measures
About non-GAAP financial measures This presentation includes certain non-GAAP financial measures including Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP net income (loss), non-GAAP net income (loss) margin, non-GAAP gross profit, Non-GAAP gross profit margin, certain non-GAAP expenses (including
Slide 4: About LegalZoom
About LegalZoom LEGALZ900M
Slide 5: Our vision and mission
Our vision To be the guardian of people’s aspirations, lives, and legacies Our mission Transforming how people navigate the legal system 5
Slide 6: LegalZoom investment highlights
LegalZoom investment highlights ● Category Leader in a Large, Fragmented Market Leading online legal services provider. ● Efficient Growth Engine with Significant White Space Scalable, data-driven customer acquisition model with meaningful greenfield opportunity. ● Sticky, High-Value Subscription Mo
Slide 7: Third quarter at a glance
Third quarter at a glance (Comparisons YoY) Revenue Subscription Revenue Transaction Revenue $190M $125M $65M +13% +13% +12% Non-GAAP Net Income Net Income(1) Adjusted EBITDA(1) $5M $31M $46M 24% margin -59% +4% -400 bps 7 (1) This is a non-GAAP financial measure. Refer to the Appendix for a reconci
Slide 8: Large SAM, significant opportunity
Large SAM(1), significant opportunity Life & Business Planning Business Management Expert Assistance $13B $15B $23B The largest digital formations During and post-business formation, We offer access to experts to help player leveraging our capabilities we offer a set of important services handle the
Slide 9: Significant growth opportunity as largest digital player
Significant growth opportunity as largest digital player We believe LegalZoom is uniquely positioned to capitalize on the large and fragmented online legal services market with a customer offering tailored to meet the varied needs of new and existing SMBs Our market Our leadership The Largest Digita
Slide 10: We solve important problems for our customers
We solve important problems for our customers… Small business owners have a fear Entity creation and compliance is Consumers need legal help to of navigating complex regulatory complicated, time-consuming and protect their families, but the cost matters, but the cost of experts expensive to navigate
Slide 11: …through our innovative legal technology platform
Small business services …through our innovative legal technology platform Business Business Legal formation compliance advice Consumer services Tax prep, banking, Estate Legal Real Trademark & IP Business insurance & planning advice estate management(1) websites(2) 11 (1) Services include virtual ma
Slide 12: Three key focus areas
Three key focus areas 1 2 3 Optimize our Leverage AI to Reorient go-to- subscription deliver market strategy business expertise 12
Slide 13: Optimize our subscription business
Optimize our subscription business Create scalable solutions that deliver impactful outcomes ● Execute premium solutions-based subscription model ● Expanding suite of Do-It-For-Me (“DIFM”) customizable offerings that cater to high quality customers ● Deepen customer engagement and drive higher life-
Slide 14: Reorient go-to-market strategy
Reorient go-to-market strategy Position LegalZoom as the trusted legal brand for small businesses to drive awareness and consideration Marketing Efforts: ● Driving higher ROAS in conjunction with continued investment in brand marketing ● Plan to continue to reinvest cost savings realized in other ar
Slide 15: Driving visibility through strategic partnerships
Reorient go-to-market strategy: Driving visibility through strategic partnerships June 2025: Launched a tailored legal support October 2025: LegalZoom’s partners can program for Perplexity Pro users integrate our legal services directly into their own platforms August 2025: OpenAI collaboration show
Slide 16: Augmented AI to deliver expertise
Augmented AI to deliver expertise Customer-Centric Augmentation ● Access to both AI and our experts provides customers affordable empowerment at scale, with the expertise pure tech platforms can’t match Augmented Legal Expertise ● AI empowers our experts to do more, delivering legal services to our
Slide 17: Experienced management team
Experienced management team Jeff Stibel Noel Watson Nicole Miller Aaron Stibel Chief Executive Officer Chief Financial & Chief Legal Officer Chief Business & Customer Operating Officer Officer Sheily Chhabria Panchal Kathy Tsitovich Daniel Lysaught Chief People Officer Chief Corporate Development &
Slide 18: Financial update
Financial update LEGALZ900M
Slide 19: Q3 2025 snapshot
Q3 2025 snapshot Revenue Non-GAAP Gross Profit(1) Adjusted EBITDA(1) +13% YoY $190M $169M +12% YoY $135M $120M (2%) YoY $47M $46M Q3'24 Q3'25 Q3'24 Q3'25 Q3'24 Q3'25 % of Revenue(1) % of Revenue(1) 71% 71% 28% 24% (1) This is a non-GAAP financial measure. Refer to the Appendix for a reconciliation o
Slide 20: Subscription revenue
Subscription revenue(1) Subscription revenue is primarily comprised of +6% YoY registered agent and compliance packages, attorney advice, virtual mail, bookkeeping, legal forms, and e- $436M signature services. $413M $359M +13% YoY $116M $120M $125M $111M $109M Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 2022 202
Slide 21: Transaction revenue
Transaction revenue(1) Transaction revenue is primarily generated from business formations services as well as other small business and consumer transactions including annual reports, trademark filings, and estate (1%) YoY planning solutions. $261M $248M $246M In the first quarter of 2023, we launch
Slide 22: Sales & marketing
Sales & marketing(1) Customer Acquisition Media “CAM” $246M Other Sales & Marketing (2%) YoY 72M $199M $196M 54M 38M 40% YoY 175M $61M 158M 145M $48M $43M 17M 13M 9M 35M 34M 44M Q3'23 Q3'24 Q3'25 2022 2023 2024 % of Revenue % of Revenue Total Sales & Marketing 29% 26% 32% 40% 30% 29% CAM 21% 20% 23%
Slide 23: Non-GAAP expenses
Non-GAAP expenses(1) (2%) YoY Cost of Revenue Sales & Marketing Technology & Development General & Administrative 18% YoY % of Revenue % of Revenue Total Non-GAAP Expense 80% 72% 76% 90% 82% 78% Cost of Revenue 33% 29% 29% 32% 34% 32% Sales & Marketing 29% 26% 32% 40% 30% 29% Tech. & Dev. 9% 9% 8% 8
Slide 24: Q4 and FY25 guidance
Q4 and FY25 guidance(1) Q4 2025 FY 2025 FY 2025 Guidance Commentary ● Revenue growth of approximately 10% YoY Total Revenue Total Revenue $182M - $186M $748M - $752M ● o Commitment to Adjusted EBITDA expansion Expect to achieve Adjusted EBITDA margin of approximately 23%(1) Adjusted EBITDA(1) Adjust
Slide 25: Appendix
Appendix LEGALZ900M
Slide 26: Reconciliation of GAAP expenses to non-GAAP expenses
Reconciliation of GAAP expenses to non-GAAP expenses FYE Dec 31, $K 2022 2023 2024 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Cost of revenue $211,095 $239,263 $240,093 $59,123 $55,907 $68,384 $63,609 $54,715 $53,385 $66,560 $67,398 $62,271 Stock-based compensation(1) 2,931 4,318 5,833 1,
Slide 27: Reconciliation of GAAP expenses to non-GAAP expenses on a % of revenue basis
Reconciliation of GAAP expenses to non-GAAP expenses on a % of revenue basis FYE Dec 31, $K 2022 2023 2024 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Cost of revenue 34% 36% 35% 35% 35% 39% 36% 32% 33% 36% 35% 33% Stock-based compensation(1) 0% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% Depreciatio
Slide 28: Reconciliation of GAAP expenses to non-GAAP expenses on a year-over-year % basis
Reconciliation of GAAP expenses to non-GAAP expenses on a year-over-year % basis FYE Dec 31, $K 2022 2023 2024 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Cost of revenue 11% 13% 0% 18% 18% 13% (0%) (8%) (5%) (3%) 6% 14% Stock-based compensation(1) 76% 47% 35% 87% 69% 82% 58% 4% 8% (21%) (
Slide 29: Reconciliation of GAAP gross profit to non-GAAP gross profit
Reconciliation of GAAP gross profit to non-GAAP gross profit FYE Dec 31, $K 2022 2023 2024 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Gross profit $408,884 $421,464 $441,788 $108,061 $102,756 $105,830 $113,753 $113,884 $108,321 $116,550 $125,111 $127,887 Cost of revenue stock-based compen
Slide 30: Reconciliation of GAAP net (loss) income to Adjusted EBITDA
Reconciliation of GAAP net (loss) income to Adjusted EBITDA FYE Dec 31, $K 2022 2023 2024 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Net (loss) income ($48,733) $13,953 $29,963 $7,534 $7,382 $4,744 $1,314 $11,051 $12,854 $5,127 ($266) $4,509 Interest (income) expense, net (1,543) (8,814)
Slide 31: Reconciliation of GAAP net (loss) income to non-GAAP net (loss) income
Reconciliation of GAAP net (loss) income to non-GAAP net (loss) income FYE Dec 31, $K 2022 2023 2024 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Net (loss) income ($48,733) $13,953 $29,963 $7,534 $7,382 $4,744 $1,314 $11,051 $12,854 $5,127 ($266) $4,509 Amortization of acquired intangible
Slide 32: Reconciliation of net cash from operating activities to free cash flow
Reconciliation of net cash provided by operating activities to free cash flow FYE Dec 31, $K 2022 2023 2024 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Net cash provided by operating activities $73,837 $124,308 $135,639 $27,441 $22,495 $34,194 $27,245 $31,613 $42,586 $50,703 $39,139 $54,22
Slide 33: LEGALZ90m
LEGALZ90m
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