Stock Track | LegalZoom Soars on Strategic Shift and Stellar Q3 Results

Stock Track

Nov 07, 2024

LegalZoom.com, Inc. (LZ) saw its stock soar by an impressive 11.90% on November 7, 2024, driven by the company's better-than-expected third-quarter financial results and its strategic initiatives to drive long-term growth.

The online legal services provider reported revenue of $169 million for the quarter, up 1% year-over-year, fueled by a 5% increase in higher-margin subscription revenue. This strong performance was underpinned by LegalZoom's focus on transitioning towards a subscription-based model, aimed at attracting high-value customers and fostering recurring revenue streams.

Notably, LegalZoom achieved a record adjusted EBITDA margin of 28%, reflecting robust bottom-line performance. Adjusted EBITDA surged 40% year-over-year to $47.1 million, exceeding analysts' expectations and highlighting the company's profitability improvements.

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(LZ) saw its stock soar by an impressive 11.90% on November 7, 2024, driven by the company's better-than-expected third-quarter financial results and its strategic initiatives to drive long-term growth.</p>\n\n<p>The online legal services provider reported revenue of $169 million for the quarter, up 1% year-over-year, fueled by a 5% increase in higher-margin subscription revenue. This strong performance was underpinned by LegalZoom's focus on transitioning towards a subscription-based model, aimed at attracting high-value customers and fostering recurring revenue streams.</p>\n\n<p>Notably, LegalZoom achieved a record adjusted EBITDA margin of 28%, reflecting robust bottom-line performance. Adjusted EBITDA surged 40% year-over-year to $47.1 million, exceeding analysts' expectations and highlighting the company's profitability improvements.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LZ","symbol_name":"LegalZoom.com, Inc","start_time":0,"source_url":"","article_id":"1188711303","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1188711303","pubTimestamp":1730990193,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"LegalZoom.com, Inc.  saw its stock soar by an impressive 11.90% on November 7, 2024, driven by the company's better-than-expected third-quarter financial results and its strategic initiatives to drive long-term growth.The online legal services provider reported revenue of $169 million for the quarter, up 1% year-over-year, fueled by a 5% increase in higher-margin subscription revenue. 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