LegalZoom reports Q2 revenue up 5% to $177.4M, EBITDA margin down, announces 15% workforce reduction

LEGALZOOM.COM, INC.

2024-Q2 EPS reported $0.03 revenue$351,576,000

Q2 revenue $177.4M (+5% YoY), subscription revenue $108.8M (+6%), transaction revenue $68.5M (+4%).
Net income $1.3M (flat YoY); adjusted EBITDA $28.9M (16% margin vs 18% YoY); free cash flow $17.4M vs $37.4M.
Repurchased 13.9M shares for $125.2M in Q2; cash and equivalents $118.8M.
Jeff Stibel appointed CEO effective July 9, 2024, taking direct role in executing growth strategy.
Restructuring: 15% workforce reduction, ~$5M severance charges in Q3, expected annualized savings of $25M; full-year revenue guidance reaffirmed.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.