Legalzoom.com, Inc. · NASDAQ:LZ
Legalzoom.com — Investor Presentation (May 2026)
41 slides from Legalzoom.com's investor presentation, May 2026
Slide 1: Investor Presentation May 2026
Investor Presentation May 2026 Scott C. REO Physical Therapy Formed with LegalZoom in 2021
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 E
Slide 3: About non-GAAP financial measures; third party information
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
Slide 5: Our vision and mission
OUR VISION OUR MISSION To be the guardian Transforming how of people’s people navigate aspirations, lives, the legal system and legacies 5
Slide 6: LegalZoom investment highlights
LegalZoom investment highlights Category Leader in a Large, Fragmented Market America’s #1 online legal services company with 25 years of trusted execution at scale Efficient Growth Engine with Significant White Space Data-driven customer acquisition model with meaningful greenfield opportunity Stic
Slide 7: Q1 2026 at a glance
Q1 2026 at a glance (Comparisons YoY) REVENUE SUBSCRIPTION REVENUE TRANSACTION REVENUE $207M $130M $77M +13% +12% +15% NET INCOME NON-GAAP NET INCOME(1) ADJUSTED EBITDA(1) $1M $22M $36M -78% -7% 18% margin -260 bps (1) This is a non-GAAP financial measure. Refer to the Appendix for a reconciliation
Slide 8: Our market and opportunity
LEGALZ90m Our market and opportunity
Slide 9: SMBs are a large and growing market
SMBs are a large and growing market 36M U.S. small 4% U.S. small business 69% YoY increase businesses in operation(1) formation CAGR(2) in U.S. professionals adopting the title “founder” Small business count by size No. of small businesses formed in 2025 (3) (in millions) (in thousands) 1-19 20-499
Slide 10: Significant $51B SAM opportunity
Significant $51B SAM(1) opportunity BUSINESS FORMATION(1) Customer acquisition LegalZoom unifies $3B SMB needs in a fragmented market BUSINESS MANAGEMENT & COMPLIANCE(1) Business management Disjointed set of providers with no unified Immediate and recurring SMB needs solution for SMBs $14B Business
Slide 11: Why LegalZoom wins
Why LegalZoom wins A scaled platform combining software, services and experts to capture recurring SMB legal and compliance spend TRUSTED BRAND SMALL BUSINESS EXPERTISE LEADING CUSTOMER EXPERIENCE 25+ Years in operation 5M+ Businesses formed since inception 4.6 Trustpilot score DIVERSE PRODUCT SUITE
Slide 12: Our products and subscription services
Our products and subscription services All-in-one platform serves new and existing SMBs Form your business Run your business Stay compliant Access advice AI TECHNOLOGY + HUMAN EXPERTISE LLC / Corporation / Compliance Business Virtual mail Nonprofit / DBA concierge attorney plan Federal tax Legal for
Slide 13: Our human-in-the-loop advantage
Our human-in-the-loop advantage Attorneys 1,000+ independent attorney network serving all 50 states IP professionals Trademark and IP support through our owned-law firm Concierge managers Deborah B. Jason M. White-glove business & compliance services Arroyo Law Group, LLP McGrath & Spielberger PLLC
Slide 14: Focused on higher-value customers
Focused on higher-value customers Packaging and premium offerings are driving higher-value customers ONLINE BUSINESS FORMATIONS OFFERINGS SALES BUSINESS FORMATIONS OFFERINGS Basic Pro Formation Premium Business Essentials Business & Legal (free formation) Package Formation Package Concierge Package
Slide 15: Our strategy
LEGALZ90m Our strategy
Slide 16: Our vision: LegalZoom today and growth drivers
Our vision LegalZoom today Growth drivers Business formation is primary acquisition channel Greater mix of expert-led subscriptions Strong recurring base of subscriptions AI + channel partnerships expand top-of-funnel Partnership ecosystem broadening our solution set AI driving expert efficiency and
Slide 17: Three key focus areas
Three key focus areas 1 2 3 Optimize our Leverage AI subscription Reorient go-to- to deliver business market strategy expertise 17
Slide 18: Optimize our subscription business
Optimize our subscription business Focus on premium legal and compliance solutions that cater to high-quality new Create scalable solutions that deliver impactful outcomes and existing small businesses Deepen customer engagement and drive higher lifetime value Leverage technology & AI to add value t
Slide 19: Concierge suite
OPTIMIZE OUR SUBSCRIPTION BUSINESS Launched Concierge suite in February 2025; Concierge suite catering to high-value new and established small business customers. Expanding our suite of Do-it-For-Me Products include: offerings Business Concierge Business & Legal Concierge $1,199/ year $1,399/ year R
Slide 20: Reorient go-to-market strategy
Reorient go-to-market strategy Investments in brand marketing, Position LegalZoom as the trusted legal balancing new customer acquisition with brand for small businesses to drive ROAS efficiency awareness and consideration Further leverage partner channel to acquire high-quality small businesses Mar
Slide 21: Leveraging partner channel to acquire high-quality small businesses
REORIENT GO-TO-MARKET STRATEGY Leveraging partner channel to acquire high-quality small businesses AI integrations + partnership channel expanding top-of-funnel Claude + LegalZoom ChatGPT + LegalZoom GoDaddy + LegalZoom attorney integration formation guidance formation integration 21
Slide 22: Leverage AI to deliver expertise
Leverage AI to Customer-Centric Augmentation deliver expertise 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 attorneys to do more, delivering legal services to our cus
Slide 23: AI improving our customer experience & driving efficiencies
LEVERAGE AI TO DELIVER EXPERTISE AI improving our customer experience & driving efficiencies LegalZoom Legal Services: Customer Sales: Customer Care: AI-powered research & AI-powered coaching AI-powered chat drafting Agentic AI is now handling AI driving 55% reduction in AI-powered coaching has trad
Slide 24: Experienced management team
Experienced management team Jeff Stibel Noel Watson Nicole Miller Aaron Stibel Chief Executive Officer Chief Financial & Chief Legal Officer Chief Business & Operating Officer Customer Officer Sheily Chhabria Panchal Kathy Tsitovich Daniel Lysaught Chief People Officer Chief Corporate Development Ch
Slide 25: Financial update
LEGALZ90m Financial update
Slide 26: Q1 2026 snapshot
Q1 2026 snapshot Revenue Non-GAAP Gross Profit(1) Adjusted EBITDA(1) +13% YoY +12% YoY -1% YoY $37M $36M Q1'25 Q1'26 % of Revenue(1) % of Revenue(1) 67% 67% 20% 18% (1) This is a non-GAAP financial measure. Refer to the Appendix for a reconciliation of this measure to the most directly comparable GA
Slide 27: Subscription revenue
Subscription revenue Subscription revenue is primarily comprised of +13% YoY registered agent and compliance packages, attorney advice, virtual mail, bookkeeping, legal forms, and e- signature services. +12% YoY $120M $125M $131M $130M $116M Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Subscription KPIs Subscripti
Slide 28: Transaction revenue
Transaction revenue Transaction revenue is primarily generated from business formations services as well as other small business and +7% YoY consumer transactions including annual reports and filing fees, trademark filings, and estate planning solutions. +15% YoY Transaction KPIs Transaction KPIs Bu
Slide 29: Sales & marketing
Sales & marketing(1) Customer Acquisition Media “CAM” Other Sales & Marketing % of Revenue % of Revenue Total Sales & Marketing 29% 31% 35% 30% 29% 31% CAM 23% 24% 27% 22% 23% 23% Other Sales & Marketing 6% 6% 8% 8% 6% 8% (1) This is a non-GAAP financial measure. Refer to the Appendix for a reconcil
Slide 30: Non-GAAP expenses
Non-GAAP expenses(1) Cost of Revenue Sales & Marketing Technology & Development General & Administrative % of Revenue % of Revenue Total Non-GAAP Expense 84% 80% 82% 82% 78% 77% Cost of Revenue 36% 33% 33% 34% 32% 31% Sales & Marketing 29% 31% 35% 30% 29% 31% Tech. & Dev. 10% 8% 7% 9% 9% 8% G&A 9% 8
Slide 31: Q2 and FY 2026 guidance
Q2 and FY 2026 guidance(1) Q2 2026 FY 2026 FY 2026 Guidance Commentary Total Revenue Total Revenue Revenue growth of approximately 8% YoY $203M - $207M $810M - $830M - Acceleration vs. organic growth(2) of 3% YoY in FY 2025 - Driven by quality customer acquisition and higher-value offerings Adjusted
Slide 32: Appendix
Appendix LEGALZ900M
Slide 33: Reconciliation of GAAP expenses to non-GAAP expenses
Reconciliation of GAAP expenses to non-GAAP expenses FYE Dec 31, $K 2023 2024 2025 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Cost of revenue $239,263 $240,093 $257,960 $68,384 $63,609 $54,715 $53,385 $66,560 $67,398 $62,271 $61,731 $74,528 Stock-based compensation 4,318 5,833 5,538 1,593
Slide 34: 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 2023 2024 2025 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Cost of revenue 36% 35% 34% 39% 36% 32% 33% 36% 35% 33% 32% 36% Stock-based compensation 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% Depreciation a
Slide 35: 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 2023 2024 2025 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Cost of revenue 13% 0% 7% 13% (0%) (8%) (5%) (3%) 6% 14% 16% 12% Stock-based compensation 47% 35% (5%) 82% 58% 4% 8% (21%) (15%) 22% 4%
Slide 36: Reconciliation of GAAP gross profit to non-GAAP gross profit
Reconciliation of GAAP gross profit to non-GAAP gross profit FYE Dec 31, $K 2023 2024 2025 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Gross profit $421,464 $441,788 $498,083 $105,830 $113,753 $113,884 $108,321 $116,550 $125,111 $127,887 $128,535 $132,253 Cost of revenue stock-based compen
Slide 37: Reconciliation of GAAP net income (loss) to Adjusted EBITDA
Reconciliation of GAAP net income (loss) to Adjusted EBITDA FYE Dec 31, $K 2023 2024 2025 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Net income (loss) $13,953 $29,963 $15,427 $4,744 $1,314 $11,051 $12,854 $5,127 ($266) $4,509 $6,058 $1,104 Interest (income) expense, net (8,814) (7,404) (6
Slide 38: Reconciliation of GAAP net income (loss) to non-GAAP net income (loss)
Reconciliation of GAAP net income (loss) to non-GAAP net income (loss) FYE Dec 31, $K 2023 2024 2025 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Net income (loss) $13,953 $29,963 $15,427 $4,744 $1,314 $11,051 $12,854 $5,127 ($266) $4,509 $6,058 $1,104 Amortization of acquired intangible as
Slide 39: Reconciliation of net cash provided by operating activities to free cash flow
Reconciliation of net cash provided by operating activities to free cash flow FYE Dec 31, $K 2023 2024 2025 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Net cash provided by operating activities $124,308 $135,639 $178,197 $34,194 $27,245 $31,613 $42,586 $50,703 $39,139 $54,226 $34,129 $47,2
Slide 40: Reconciliation of total revenue to non-GAAP organic revenue
Reconciliation of total revenue to non-GAAP organic revenue FYE Dec 31, $K 2024 2025 Total Revenue $681,881 $756,043 Formation Nation Revenue — 51,401 Non-GAAP Organic Revenue(1) 681,881 704,642 YoY % of GAAP Revenue — 11% YoY % of Non - GAAP Organic Revenue (1) — 3% (1) We define non-GAAP organic r
Slide 41: LegalZoom
LEGALZ900M