First, access to legal solutions imposes steep pressure on households. Therefore, investors shouldn’t be surprised if LZ’s IPO manages to surprise onlookers. While the legal services industry isn’t the most enticing business sector, it’s a vital one. Also noteworthy is that goodwill is less than 5% of total assets, which indicates that most of the company’s assets are tangible or material items. From LegalZoom’s S-1 filing with the SEC, it posted net income of $7.44 million in 2019, followed by $9.9 million in 2020. Unlike most of the aspirational public market debuts that launched during the trailing year, LZ stock undergirds a profitable business. For instance, in 2020, the company generated revenue of $470.6 million, up more than 15% from 2019’s tally of $408.4 million. Indeed, LegalZoom’s financial performance suggests that this dynamic already is playing out. As the world emerges from the pandemic, many people are likely to be much more cognizant of their mortality, increasing demand for wills. But filling a need for administrative legal services is also the beauty of LegalZoom, which primarily aims to democratize legal services by drawing up - for a nominal fee - documents like wills, incorporations and trademarks but without expensive attorneys.Īccessible personal and professional services represented a relevant business prior to the COVID-19 pandemic. Undoubtedly, the lion’s share of this tally stems from big corporate expenditures. Prior expert forecasts projected industry revenue to consistently generate above $344 billion between 2020 through 2024. Legal Services Sans Financial HeartacheĪs you might imagine, the legal services sector in the U.S.
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