Legalzoom.Com (LZ) FY2025 results: revenue $756 million, up 10.9% on the year
Legalzoom.Com, Inc. (LZ) reported revenue of $756 million for fiscal 2025, the year ended 31 December 2025, up 10.9% on the year before. Net income was $15 million, down 48.5%, and diluted earnings per share $0.08. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2026.
Revenue
$756 million
+10.9% on the year
FY2019FY2025
Operating margin
3.3%
5.2% a year earlier
FY2019FY2025
Net income
$15 million
-48.5% on the year
FY2019FY2025
Diluted EPS
$0.08
-50.0% on the year
FY2019FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 1 raised, 4 new.
Fourth-quarter revenue rose 18%: Fourth-quarter revenue was $190.3 million, up 18% from $161.7 million a year earlier.
Full-year revenue grew with acquisition: Full-year revenue was $756.0 million, up 11%. The company tied the growth to subscription initiatives and to contributions from the Formation Nation acquisition.
Subscription revenue grew 20% in quarter: Fourth-quarter subscription revenue was $130.9 million, up 20% from $108.7 million in the same period of 2024.
Fourth-quarter Adjusted EBITDA margin eased: Fourth-quarter Adjusted EBITDA was $49.9 million, 26% of revenue, against 27% a year earlier, as sales and marketing spend rose.
Record full-year cash flow and free cash flow: Full-year operating cash flow was a record $178.2 million, up 31%. Free cash flow was a record $147.9 million, up 48%.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
178
136
124
+31.4%
Capital expenditure
30.3
35.7
31.6
-15.2%
Free cash flow
148
99.9
92.7
+48.0%
Free cash flow margin
19.6%
14.7%
14.0%
Cash from investing
-40.1
-35.7
-31.6
Cash from financing
-77.3
-183
-56.1
Depreciation and amortisation
36.3
29.8
20.2
+21.8%
Share-based compensation
114
71.5
66.0
+59.0%
Buybacks
80.5
165
54.9
-51.2%
Diluted shares, weighted
185m
183m
194m
+1.0%
Shares outstanding at period end
178m
174m
189m
+2.3%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
172
93.3
169
+84.3%
Debt
0.0
0.0
0.0
Operating lease liabilities
10.0
6.0
7.0
+66.6%
Finance lease liabilities
n/a
0.0
0.0
Other liabilities
330
275
272
+20.0%
Total liabilities and equity
512
374
448
+36.8%
Goodwill
141
63.3
63.3
+122.2%
Intangible assets
18.2
8.7
13.7
+109.8%
Investments
0.0
1.4
1.2
Cash and equivalents
203
142
226
+43.0%
Receivables
20.6
8.5
11.7
+141.9%
Other assets
129
150
132
-14.0%
Total assets
512
374
448
+36.8%
10-K for the year ended 31 December 2025, filed 23 February 2026: the filing.