“After years of deferred investment into the business, we’re finally deploying capital in the right ways, which is attracting new talent and significantly improving the velocity of innovation,” Noel Watson, LegalZoom’s chief financial officer, said in a statement. The company’s cash and cash equivalents were $239 million as of Dec.

The loss was linked to an increase in stock-based compensation of $22.9 million, primarily in connection with the LegalZoom’s IPO last year. A net loss of $20.8 million (-11 cents a share) was reported for the quarter compared to a net income of $9.4 million (6 cents a share) in 2020. The Glendale company posted $142 million in revenue for the quarter. The business formations were an 18% year-over-year increase for the company, which drove transaction revenue to an 8% year-over-year increase, clocking in at $56.5 million. “For the full year of 2021 we grew revenue 22% and helped form 447,000 businesses, almost one every minute.” “We capped off a historic 2021 with a strong fourth quarter,” Dan Wernikoff, LegalZoom’s chief executive, said in a statement. reported a year-over-year revenue increase and a fourth-quarter loss in its latest earnings report on March 10. The Company operates across all 50 states and approximately 3,000 counties in the United States.Online legal technology company Inc.

It also has a partner ecosystem that enables it to offer third-party services to its customers and to offer its services to its partners’ customers. This combination creates a suite of legal and compliance solutions that are relevant for its customers’ ongoing needs. The primary driver of new customers is small business formation transactions. Its products and services include business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.

The Company helps customers form their businesses, protect their ideas, stay compliant and scale their operations. is an online platform for legal and compliance solutions in the United States.

Legal zoom stock forecast