LegalZoom.com Inc.(NASDAQ:LZ) 
LegalZoom.com, Inc. is an online legal technology company that helps its customers create legal documents without necessarily having to hire a lawyer. Available documents include wills and living trusts, business formation documents, copyright registrations, and trademark applications.
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 206,781,000 | 190,266,000 | 190,158,000 | 192,509,000 | 183,110,000 | 161,706,000 | 168,599,000 | 177,362,000 | 174,214,000 | 158,663,000 | 167,274,000 | 168,854,000 | 165,936,000 | 147,487,000 | 154,416,000 | 163,867,000 | 154,209,000 | 142,137,000 | 147,879,000 | 150,432,000 |
yoy | 12.93% | 17.66% | 12.79% | 8.54% | 5.11% | 1.92% | 0.79% | 5.04% | 4.99% | 7.58% | 8.33% | 3.04% | 7.60% | 3.76% | 4.42% | 8.93% | ||||
qoq | 8.68% | 0.06% | -1.22% | 5.13% | 13.24% | -4.09% | -4.94% | 1.81% | 9.80% | -5.15% | -0.94% | 1.76% | 12.51% | -4.49% | -5.77% | 6.26% | 8.49% | -3.88% | -1.70% | |
cost of revenue | 74,528,000 | 61,731,000 | 62,271,000 | 67,398,000 | 66,560,000 | 53,385,000 | 54,715,000 | 63,609,000 | 68,384,000 | 55,907,000 | 59,213,000 | 63,748,000 | 60,395,000 | 47,712,000 | 50,050,000 | 57,393,000 | 55,940,000 | 48,278,000 | 47,267,000 | 49,859,000 |
gross profit | 132,253,000 | 128,535,000 | 127,887,000 | 125,111,000 | 116,550,000 | 108,321,000 | 113,884,000 | 113,753,000 | 105,830,000 | 102,756,000 | 108,061,000 | 105,106,000 | 105,541,000 | 99,775,000 | 104,366,000 | 106,474,000 | 98,269,000 | 93,859,000 | 100,612,000 | 100,573,000 |
yoy | 13.47% | 18.66% | 12.30% | 9.98% | 10.13% | 5.42% | 5.39% | 8.23% | 0.27% | 2.99% | 3.54% | -1.28% | 7.40% | 6.30% | 3.73% | 5.87% | ||||
qoq | 2.89% | 0.51% | 2.22% | 7.35% | 7.60% | -4.88% | 0.12% | 7.49% | 2.99% | -4.91% | 2.81% | -0.41% | 5.78% | -4.40% | -1.98% | 8.35% | 4.70% | -6.71% | 0.04% | |
gross margin % | 63.96% | 67.56% | 67.25% | 64.99% | 63.65% | 66.99% | 67.55% | 64.14% | 60.75% | 64.76% | 64.60% | 62.25% | 63.60% | 67.65% | 67.59% | 64.98% | 63.72% | 66.03% | 68.04% | 66.86% |
operating expenses: | ||||||||||||||||||||
sales and marketing | 78,668,000 | 62,952,000 | 67,835,000 | 69,580,000 | 61,378,000 | 47,514,000 | 46,287,000 | 60,130,000 | 53,753,000 | 46,126,000 | 51,071,000 | 53,525,000 | 60,150,000 | 47,920,000 | 66,145,000 | 72,945,000 | 76,874,000 | 69,917,000 | 72,572,000 | 65,431,000 |
technology and development | 19,605,000 | 19,499,000 | 19,485,000 | 21,635,000 | 21,322,000 | 16,650,000 | 23,179,000 | 25,798,000 | 23,957,000 | 22,107,000 | 21,491,000 | 19,900,000 | 19,683,000 | 18,821,000 | 17,457,000 | 16,197,000 | 17,959,000 | 18,213,000 | 26,865,000 | 28,426,000 |
general and administrative | 31,216,000 | 33,467,000 | 34,074,000 | 36,996,000 | 39,221,000 | 31,046,000 | 28,149,000 | 26,679,000 | 23,065,000 | 27,669,000 | 25,243,000 | 26,936,000 | 26,504,000 | 27,497,000 | 30,103,000 | 28,969,000 | 29,488,000 | 31,382,000 | 28,192,000 | 33,845,000 |
gain on sale of assets held for sale | -14,337,000 | |||||||||||||||||||
total operating expenses | 129,489,000 | 115,918,000 | 121,394,000 | 128,211,000 | 107,584,000 | 95,210,000 | 97,615,000 | 112,607,000 | 100,775,000 | 95,902,000 | 97,805,000 | 100,361,000 | 106,337,000 | 94,249,000 | 113,942,000 | 118,111,000 | 124,321,000 | 119,564,000 | 128,122,000 | 128,081,000 |
income from operations | 2,764,000 | 12,617,000 | 6,493,000 | -3,100,000 | 8,966,000 | 13,111,000 | 16,269,000 | 1,146,000 | 5,055,000 | 6,854,000 | 10,256,000 | 4,745,000 | -796,000 | 5,526,000 | -9,576,000 | -11,637,000 | -26,052,000 | -25,705,000 | -27,510,000 | -27,508,000 |
yoy | -69.17% | -3.77% | -60.09% | -370.51% | 77.37% | 91.29% | 58.63% | -75.85% | -735.05% | 24.03% | -207.10% | -140.78% | -96.94% | -121.50% | -65.19% | -57.70% | ||||
qoq | -78.09% | 94.32% | -309.45% | -134.58% | -31.61% | -19.41% | 1319.63% | -77.33% | -26.25% | -33.17% | 116.14% | -696.11% | -114.40% | -157.71% | -17.71% | -55.33% | 1.35% | -6.56% | 0.01% | |
operating margin % | 1.34% | 6.63% | 3.41% | -1.61% | 4.90% | 8.11% | 9.65% | 0.65% | 2.90% | 4.32% | 6.13% | 2.81% | -0.48% | 3.75% | -6.20% | -7.10% | -16.89% | -18.08% | -18.60% | -18.29% |
interest expense | -676,000 | -795,000 | -152,000 | -165,000 | -182,000 | -201,000 | -72,000 | -112,000 | -61,000 | -53,000 | -61,000 | -9,957,000 | -9,312,000 | |||||||
interest income | 1,648,000 | 1,878,000 | 2,139,000 | 2,069,000 | 1,483,000 | 1,303,000 | 1,345,000 | 2,315,000 | 2,887,000 | 2,950,000 | 2,623,000 | 2,153,000 | 1,581,000 | 1,032,000 | 535,000 | 29,000 | ||||
other income | 81,000 | 290,000 | -102,000 | 652,000 | 347,000 | -1,747,000 | 1,741,000 | 11,000 | 93,000 | 1,185,000 | -882,000 | 624,000 | 694,000 | 1,625,000 | -2,536,000 | -2,022,000 | -1,544,000 | 893,000 | -368,000 | |
income before income taxes | 3,817,000 | 13,990,000 | 8,378,000 | -544,000 | 10,614,000 | 12,466,000 | 19,283,000 | 3,360,000 | 7,974,000 | 10,496,000 | 11,997,000 | 7,522,000 | 1,479,000 | 5,183,000 | -11,577,000 | -13,630,000 | -27,649,000 | -23,685,500 | -45,583,000 | -36,400,000 |
provision for income taxes | 2,713,000 | 7,933,000 | 3,869,000 | -278,000 | 5,487,000 | -388,000 | 8,232,000 | 2,046,000 | 3,230,000 | 3,114,000 | 4,463,000 | 6,127,000 | 20,000 | -1,469,000 | -451,000 | 2,960,000 | ||||
net income | 1,104,000 | 6,057,000 | 4,509,000 | -266,000 | 5,127,000 | 12,854,000 | 11,051,000 | 1,314,000 | 4,744,000 | 7,382,000 | 7,534,000 | 1,395,000 | -2,358,000 | 5,163,000 | -10,108,000 | -13,179,000 | -30,609,000 | -20,771,000 | -39,675,000 | -38,395,000 |
yoy | -78.47% | -52.88% | -59.20% | -120.24% | 8.07% | 74.13% | 46.68% | -5.81% | -301.19% | 42.98% | -174.54% | -110.59% | -92.30% | -124.86% | -74.52% | -65.68% | ||||
qoq | -81.77% | 34.33% | -1795.11% | -105.19% | -60.11% | 16.32% | 741.02% | -72.30% | -35.74% | -2.02% | 440.07% | -159.16% | -145.67% | -151.08% | -23.30% | -56.94% | 47.36% | -47.65% | 3.33% | |
net income margin % | 0.53% | 3.18% | 2.37% | -0.14% | 2.80% | 7.95% | 6.55% | 0.74% | 2.72% | 4.65% | 4.50% | 0.83% | -1.42% | 3.50% | -6.55% | -8.04% | -19.85% | -14.61% | -26.83% | -25.52% |
net income per share | 0.01 | 0.04 | 0.03 | 0.03 | 0.08 | 0.06 | 0.01 | 0.03 | 0.008 | 0.04 | 0.01 | -0.01 | -0.068 | -0.05 | -0.07 | -0.15 | -0.148 | -0.2 | -0.31 | |
weighted-average shares used for eps calculation | 174,866 | 178,798 | 180,057 | 180,880 | 176,829 | 180,210 | 174,862 | 184,257 | 188,618 | 191,033 | 191,342 | 191,293 | 194,906 | 197,819 | 198,265 | 196,351 | 125,423 | |||
impairment of long-lived and other assets | 11,000 | 237,000 | 218,000 | 493,000 | 379,000 | |||||||||||||||
benefit from income taxes | 3,837,000 | |||||||||||||||||||
loss on debt extinguishment | -7,748,000 | |||||||||||||||||||
net loss attributable to common stockholders—basic and diluted | -30,609,000 | |||||||||||||||||||
loss on sale of business | ||||||||||||||||||||
impairment of available-for-sale debt securities of 4,912, net of 94 loss recognized in other comprehensive loss | ||||||||||||||||||||
provision for from income taxes | -1,712,250 | -5,908,000 | 1,995,000 | |||||||||||||||||
other income (expense) | 420,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||
current assets: | ||||||||||||||||||||
cash and cash equivalents | 183,152,000 | 203,100,000 | 237,154,000 | 217,035,000 | 209,973,000 | 142,064,000 | 112,477,000 | 118,795,000 | 228,129,000 | 225,719,000 | 212,147,000 | 238,937,000 | 204,126,000 | 189,082,000 | 211,812,000 | 215,537,000 | 247,504,000 | 239,297,000 | 310,704,000 | 166,972,000 |
accounts receivable | 24,573,000 | 20,589,000 | 20,445,000 | 23,041,000 | 17,935,000 | 8,511,000 | 11,518,000 | 15,347,000 | 15,726,000 | 11,738,000 | 14,417,000 | 13,495,000 | 15,766,000 | 13,177,000 | 13,578,000 | 12,993,000 | 12,784,000 | 10,635,000 | 11,595,000 | 10,866,000 |
prepaid expenses and other current assets | 20,551,000 | 18,234,000 | 18,879,000 | 14,485,000 | 20,437,000 | 17,926,000 | 20,491,000 | 22,414,000 | 17,914,000 | 15,159,000 | 17,494,000 | 13,308,000 | 19,581,000 | 16,699,000 | 16,624,000 | 13,860,000 | 23,172,000 | 16,589,000 | 16,338,000 | 12,565,000 |
total current assets | 228,276,000 | 241,923,000 | 276,478,000 | 254,561,000 | 248,345,000 | 191,223,000 | 167,208,000 | 179,278,000 | 284,491,000 | 275,338,000 | 266,780,000 | 288,462,000 | 262,195,000 | 241,680,000 | 264,736,000 | 242,390,000 | 283,460,000 | 266,521,000 | 338,637,000 | 190,403,000 |
property and equipment | 55,589,000 | 58,045,000 | 59,980,000 | 60,495,000 | 60,167,000 | 59,788,000 | 59,692,000 | 57,136,000 | 53,154,000 | 48,232,000 | 43,763,000 | 38,894,000 | 34,446,000 | 30,823,000 | 29,012,000 | 49,342,000 | 47,769,000 | 47,013,000 | 47,112,000 | 48,973,000 |
goodwill | 140,705,000 | 140,705,000 | 140,143,000 | 139,570,000 | 141,131,000 | 63,318,000 | 63,318,000 | 63,318,000 | 63,318,000 | 63,318,000 | 63,318,000 | 63,265,000 | 63,247,000 | 63,229,000 | 63,184,000 | 59,933,000 | 59,994,000 | 59,910,000 | 11,392,000 | 11,415,000 |
intangible assets | 16,542,000 | 18,152,000 | 19,762,000 | 21,926,000 | 24,306,000 | 8,653,000 | 9,919,000 | 11,194,000 | 12,465,000 | 13,735,000 | 15,026,000 | 16,317,000 | 17,566,000 | 18,900,000 | 13,552,000 | 14,570,000 | 15,361,000 | 16,031,000 | 438,000 | 490,000 |
operating lease right-of-use assets | 14,199,000 | 13,414,000 | 13,786,000 | 13,648,000 | 14,220,000 | 7,189,000 | 7,352,000 | 7,212,000 | 7,895,000 | 8,518,000 | 9,199,000 | 9,875,000 | 10,461,000 | 11,148,000 | 11,796,000 | 6,961,000 | 5,292,000 | |||
deferred income taxes | 29,446,000 | 31,884,000 | 33,300,000 | 45,151,000 | 35,341,000 | 34,696,000 | 31,734,000 | 31,396,000 | 28,855,000 | 29,015,000 | 18,570,000 | 21,831,000 | 26,682,000 | 29,380,000 | 27,473,000 | 25,685,000 | 24,849,000 | 27,653,000 | 26,362,000 | 22,859,000 |
other assets | 7,101,000 | 7,399,000 | 7,655,000 | 7,679,000 | 7,568,000 | 7,639,000 | 8,232,000 | 8,607,000 | 8,407,000 | 8,503,000 | 8,620,000 | 8,989,000 | 8,755,000 | 9,240,000 | 12,877,000 | 13,319,000 | 13,157,000 | 12,765,000 | 9,408,000 | 12,529,000 |
total assets | 491,858,000 | 511,522,000 | 551,104,000 | 543,030,000 | 532,666,000 | 373,883,000 | 348,841,000 | 359,515,000 | 459,745,000 | 447,818,000 | 426,513,000 | 448,637,000 | 424,352,000 | 405,395,000 | 423,813,000 | 413,382,000 | 451,064,000 | 431,015,000 | 434,472,000 | 287,691,000 |
liabilities and stockholders’ equity | ||||||||||||||||||||
current liabilities: | ||||||||||||||||||||
accounts payable | 38,126,000 | 27,167,000 | 32,414,000 | 34,779,000 | 35,489,000 | 31,150,000 | 27,922,000 | 34,247,000 | 34,150,000 | 32,282,000 | 32,311,000 | 33,307,000 | 25,803,000 | 25,312,000 | 25,805,000 | 18,404,000 | 31,747,000 | 31,788,000 | 43,196,000 | 36,727,000 |
accrued expenses and other current liabilities | 57,373,000 | 83,361,000 | 76,882,000 | 73,873,000 | 72,447,000 | 57,928,000 | 57,027,000 | 58,020,000 | 52,569,000 | 61,678,000 | 55,375,000 | 52,349,000 | 51,682,000 | 57,373,000 | 59,916,000 | 55,820,000 | 56,509,000 | 50,817,000 | 42,958,000 | 47,877,000 |
deferred revenue | 223,242,000 | 203,653,000 | 213,807,000 | 213,908,000 | 211,094,000 | 174,643,000 | 185,795,000 | 189,146,000 | 187,547,000 | 167,951,000 | 176,867,000 | 179,432,000 | 181,219,000 | 164,200,000 | 168,705,000 | 163,140,000 | 163,729,000 | 146,364,000 | 152,314,000 | 151,775,000 |
operating lease liabilities | 4,743,000 | 4,338,000 | 4,250,000 | 3,947,000 | 3,465,000 | 1,861,000 | 1,876,000 | 1,630,000 | 1,831,000 | 2,052,000 | 2,269,000 | 2,405,000 | 2,351,000 | 2,317,000 | 2,054,000 | 1,542,000 | 1,607,000 | |||
total current liabilities | 323,484,000 | 318,519,000 | 327,353,000 | 326,507,000 | 322,495,000 | 265,582,000 | 272,620,000 | 283,043,000 | 276,097,000 | 263,963,000 | 266,822,000 | 267,493,000 | 261,055,000 | 249,202,000 | 256,480,000 | 238,906,000 | 253,592,000 | 228,969,000 | 238,468,000 | 239,420,000 |
operating lease liabilities, non-current | 10,479,000 | 10,025,000 | 10,426,000 | 10,439,000 | 11,147,000 | 6,018,000 | 6,171,000 | 6,255,000 | 6,645,000 | 6,966,000 | 7,346,000 | 7,800,000 | 8,353,000 | 8,958,000 | 9,568,000 | 4,842,000 | ||||
other liabilities | 10,727,000 | 10,819,000 | 11,097,000 | 11,693,000 | 11,460,000 | 8,645,000 | 9,485,000 | 9,003,000 | 8,611,000 | 7,565,000 | 4,443,000 | 4,284,000 | 4,133,000 | 3,968,000 | 2,926,000 | 2,841,000 | 2,833,000 | 2,941,000 | 3,263,000 | 10,312,000 |
total liabilities | 344,950,000 | 339,640,000 | 349,183,000 | 348,978,000 | 345,454,000 | 280,626,000 | 288,703,000 | 298,753,000 | 291,839,000 | 278,984,000 | 279,171,000 | 280,288,000 | 274,335,000 | 263,020,000 | 269,987,000 | 247,726,000 | 261,213,000 | 233,464,000 | 243,428,000 | 762,656,000 |
commitments and contingencies | ||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||
preferred stock, 0.001 par value... | ||||||||||||||||||||
common stock, 0.001 par value... | 175,000 | 179,000 | 181,000 | 181,000 | 182,000 | 175,000 | 174,000 | 177,000 | 190,000 | 189,000 | 187,000 | 191,000 | 190,000 | 190,000 | 193,000 | 196,000 | 198,000 | 197,000 | 126,000 | |
additional paid-in capital | 1,323,587,000 | 1,305,936,000 | 1,299,298,000 | 1,278,383,000 | 1,250,279,000 | 1,161,538,000 | 1,140,852,000 | 1,125,942,000 | 1,108,263,000 | 1,101,474,000 | 1,086,222,000 | 1,070,461,000 | 1,049,948,000 | 1,032,550,000 | 1,015,068,000 | 994,558,000 | 969,731,000 | 947,160,000 | 919,712,000 | 151,109,000 |
accumulated deficit | -1,177,128,000 | -1,134,414,000 | -1,097,928,000 | -1,084,873,000 | -1,064,190,000 | -1,069,317,000 | -1,079,917,000 | -1,066,035,000 | -941,075,000 | -933,061,000 | -940,550,000 | -902,633,000 | -900,987,000 | -891,862,000 | -865,933,000 | -830,952,000 | -779,723,000 | -748,012,000 | -727,241,000 | -687,566,000 |
accumulated other comprehensive income | 274,000 | 181,000 | 370,000 | 361,000 | 941,000 | 861,000 | -971,000 | 678,000 | 528,000 | 232,000 | 1,483,000 | 330,000 | 866,000 | 1,497,000 | 4,498,000 | 1,854,000 | ||||
total stockholders’ equity | 146,908,000 | 171,882,000 | 201,921,000 | 194,052,000 | 187,212,000 | 93,257,000 | 60,138,000 | 60,762,000 | 167,906,000 | 168,834,000 | 147,342,000 | 168,349,000 | 150,017,000 | 142,375,000 | 153,826,000 | 165,656,000 | 189,851,000 | 197,551,000 | 191,044,000 | |
total liabilities and stockholders’ equity | 491,858,000 | 511,522,000 | 551,104,000 | 543,030,000 | 532,666,000 | 373,883,000 | 348,841,000 | 359,515,000 | 459,745,000 | 447,818,000 | 426,513,000 | 448,637,000 | 424,352,000 | 405,395,000 | 423,813,000 | 413,382,000 | 451,064,000 | |||
current assets held for sale | 22,722,000 | 22,722,000 | 22,722,000 | 22,722,000 | 22,722,000 | 22,722,000 | 22,722,000 | 22,722,000 | 22,722,000 | 22,722,000 | ||||||||||
available-for-sale debt security (amortized cost of 0 and 848), respectively | ||||||||||||||||||||
preferred stock, 0.001 par value 100,000 shares authorized at december 31, 2025 and 2024, none issued or outstanding at december 31, 2025 and 2024 | ||||||||||||||||||||
available-for-sale debt security | 1,588,000 | 1,377,000 | ||||||||||||||||||
preferred stock, 0.001 par value 100,000 shares authorized at december 31, 2024 and 2023, none issued or outstanding at december 31, 2024 and 2023 | ||||||||||||||||||||
available-for-sale debt securities | 1,386,000 | 1,374,000 | 1,160,000 | 1,159,000 | 1,237,000 | 1,004,000 | 1,000,000 | 995,000 | 1,183,000 | 1,182,000 | 1,182,000 | 1,122,000 | 1,123,000 | 1,022,000 | ||||||
preferred stock, 0.001 par value 100,000 shares authorized at december 31, 2023 and 2022, none issued or outstanding at december 31, 2023 and 2022 | ||||||||||||||||||||
preferred stock, 0.001 par value 100,000 shares authorized at december 31, 2022 and 2021, none issued or outstanding at december 31, 2022 and 2021 | ||||||||||||||||||||
operating lease liabilities, non current | 3,505,000 | |||||||||||||||||||
accumulated other comprehensive loss | -355,000 | -1,795,000 | -1,624,000 | -9,540,000 | ||||||||||||||||
restricted cash equivalent | ||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ equity | ||||||||||||||||||||
current portion of long-term debt | 3,041,000 | |||||||||||||||||||
long-term debt | 510,830,000 | |||||||||||||||||||
series a redeemable convertible preferred stock, 0.001 par value... | 70,906,000 | |||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||
common stock,0.001 par value... | 198,000 | |||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ equity | 431,015,000 | 434,472,000 | ||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ deficit | ||||||||||||||||||||
stockholders’ deficit: | ||||||||||||||||||||
total stockholders’ deficit | -545,871,000 | |||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ deficit | 287,691,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||
net income | 1,104,000 | 6,057,000 | 4,509,000 | -266,000 | 5,127,000 | 12,854,000 | 11,051,000 | 1,314,000 | 4,744,000 | 7,382,000 | -2,358,000 | -20,771,000 | |||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||
depreciation and amortization | 11,137,000 | 11,005,000 | 11,373,000 | 11,339,000 | 10,406,000 | 9,636,000 | 9,195,000 | 8,426,000 | 7,670,000 | 7,322,000 | 6,655,000 | 5,837,000 | 5,569,000 | 5,558,000 | 5,254,000 | 5,539,000 | 5,394,000 | 5,082,000 | 3,775,000 |
amortization of right-of-use assets | 968,000 | 916,000 | 887,000 | 866,000 | 618,000 | 284,000 | 479,000 | 682,000 | 687,000 | 681,000 | 675,000 | 649,000 | 687,000 | 759,000 | |||||
amortization of debt issuance costs | 47,000 | 49,000 | 49,000 | 56,000 | 56,000 | 57,000 | 57,000 | 56,000 | 57,000 | 57,000 | 58,000 | 56,000 | 56,000 | 57,000 | 58,000 | 56,000 | 56,000 | 57,000 | 62,000 |
stock-based compensation | 21,314,000 | 24,945,000 | 28,369,000 | 30,638,000 | 29,756,000 | 22,024,000 | 15,715,000 | 18,915,000 | 14,856,000 | 15,010,000 | 15,582,000 | 18,956,000 | 16,467,000 | 15,979,000 | 19,778,000 | 22,847,000 | 21,865,000 | 25,871,000 | 38,141,000 |
deferred income taxes | 2,438,000 | 1,130,000 | 11,229,000 | -7,721,000 | 1,996,000 | -3,811,000 | 138,000 | -2,142,000 | 1,263,000 | -6,106,000 | 3,204,000 | 4,851,000 | 2,763,000 | -959,000 | -1,789,000 | -836,000 | 2,791,000 | -4,377,000 | -5,606,000 |
change in fair value of other equity security | 0 | 0 | 0 | -302,000 | -781,000 | ||||||||||||||
unrealized foreign exchange loss | 143,000 | 17,000 | 27,000 | -45,000 | 76,000 | 1,925,000 | -1,615,000 | -8,000 | 346,000 | -1,208,000 | 925,000 | -2,400,000 | 2,553,000 | 2,026,000 | 1,379,000 | -59,000 | 1,403,000 | ||
gain on sale of assets held for sale | 0 | 0 | 0 | -14,337,000 | |||||||||||||||
loss on disposal of property and equipment | 53,000 | -2,000 | 99,000 | ||||||||||||||||
changes in operating assets and liabilities, net of effects of business combination: | |||||||||||||||||||
accounts receivable | -3,984,000 | -143,000 | 2,595,000 | -5,106,000 | -9,148,000 | 3,007,000 | 3,656,000 | 553,000 | -3,989,000 | 2,387,000 | -630,000 | 2,272,000 | -2,588,000 | 397,000 | -545,000 | -207,000 | -2,150,000 | 1,529,000 | -732,000 |
prepaid expenses and other current assets | -2,348,000 | 645,000 | -4,623,000 | 5,964,000 | -2,238,000 | 2,546,000 | 1,944,000 | -4,507,000 | -2,758,000 | 2,342,000 | -4,192,000 | 6,276,000 | -2,869,000 | 37,000 | -143,000 | 6,289,000 | -6,706,000 | 597,000 | -3,869,000 |
other assets | 412,000 | -77,000 | 920,000 | -121,000 | 204,000 | 649,000 | 312,000 | -298,000 | 44,000 | 90,000 | 341,000 | -344,000 | 348,000 | 1,043,000 | -519,000 | 466,000 | -811,000 | -1,365,000 | -1,615,000 |
accounts payable | 11,248,000 | -5,580,000 | -2,531,000 | -875,000 | 5,329,000 | 2,919,000 | -5,671,000 | 507,000 | 1,428,000 | -967,000 | -2,327,000 | 7,383,000 | 936,000 | -192,000 | 7,136,000 | -13,436,000 | -117,000 | -12,275,000 | 6,744,000 |
accrued expenses and other liabilities | -13,882,000 | 5,722,000 | 2,122,000 | 2,550,000 | -3,247,000 | 2,019,000 | 134,000 | 2,777,000 | -9,086,000 | 5,111,000 | 3,090,000 | 865,000 | -4,947,000 | -1,071,000 | -550,000 | 2,481,000 | 5,675,000 | 6,365,000 | 4,221,000 |
operating lease liabilities | -896,000 | -856,000 | -735,000 | -520,000 | -536,000 | -288,000 | -458,000 | -590,000 | -606,000 | -596,000 | -591,000 | -560,000 | -572,000 | -536,000 | 43,000 | -872,000 | -770,000 | ||
income tax payable | 7,000 | 9,000 | 7,000 | 233,000 | 6,000 | 8,000 | 7,000 | -4,000 | -55,000 | -20,000 | 8,000 | 1,000 | 7,000 | 6,000 | 7,000 | 8,000 | 7,000 | 183,000 | -92,000 |
deferred revenue | 19,574,000 | -10,189,000 | -127,000 | 2,797,000 | 26,838,000 | -11,194,000 | -3,380,000 | 1,565,000 | 19,593,000 | -8,991,000 | -2,712,000 | -1,881,000 | 16,918,000 | -5,029,000 | 5,408,000 | -485,000 | 17,185,000 | -6,112,000 | 215,000 |
net cash from operating activities | 47,282,000 | 34,129,000 | 54,226,000 | 39,139,000 | 50,703,000 | 42,586,000 | 31,613,000 | 27,246,000 | 34,194,000 | 22,494,000 | 27,441,000 | 45,165,000 | 29,208,000 | 21,822,000 | 27,258,000 | 11,020,000 | 13,737,000 | -6,004,000 | 19,460,000 |
capital expenditures | -6,308,000 | -5,811,000 | -7,236,000 | -7,530,000 | -9,378,000 | -6,336,000 | -10,302,000 | -10,243,000 | -6,473,000 | -7,344,000 | -7,428,000 | -7,936,000 | -6,308,000 | -6,135,000 | -5,807,000 | -5,363,000 | -4,147,000 | -3,050,000 | -2,594,000 |
free cash flows | 40,974,000 | 28,318,000 | 46,990,000 | 31,609,000 | 41,325,000 | 36,250,000 | 21,311,000 | 17,003,000 | 27,721,000 | 15,150,000 | 20,013,000 | 37,229,000 | 22,900,000 | 15,687,000 | 21,451,000 | 5,657,000 | 9,590,000 | -9,054,000 | 16,866,000 |
cash flows from investing activities | |||||||||||||||||||
acquisition, net of cash acquired | 0 | -345,000 | -48,123,000 | ||||||||||||||||
proceeds from sale of assets held for sale | 0 | 0 | |||||||||||||||||
purchase of property and equipment | -6,308,000 | -6,133,000 | -7,236,000 | -7,530,000 | -9,378,000 | -6,707,000 | -9,638,000 | -9,874,000 | -9,477,000 | -8,373,000 | -7,993,000 | -7,799,000 | -7,428,000 | -5,657,000 | -6,062,000 | -5,468,000 | -4,911,000 | -3,240,000 | -2,496,000 |
net cash from investing activities | -6,308,000 | -6,023,000 | -7,236,000 | -6,368,000 | -20,450,000 | -6,707,000 | -9,638,000 | -9,874,000 | -9,477,000 | -8,373,000 | -7,955,000 | -7,799,000 | -7,428,000 | -11,956,000 | -8,594,000 | -5,465,000 | -4,607,000 | -65,890,000 | -5,779,000 |
cash flows from financing activities | |||||||||||||||||||
payment of deferred consideration from business acquisition | -12,514,000 | ||||||||||||||||||
proceeds from issuance of stock under employee stock plans | 16,000 | 1,108,000 | 5,000 | 1,109,000 | 43,548,000 | 552,000 | 220,000 | 1,560,000 | 82,000 | 2,755,000 | 2,717,000 | 2,951,000 | 22,000 | 756,000 | 195,000 | 1,250,000 | 237,000 | ||
repayment of capital lease obligations | 0 | 0 | -2,000 | -6,000 | -7,000 | -6,000 | -9,000 | -9,000 | -9,000 | -4,000 | -7,000 | -8,000 | |||||||
repurchase of common stock | -43,467,000 | -42,911,000 | -17,202,000 | -25,509,000 | -123,667,000 | -12,783,000 | -45,064,000 | -3,041,000 | -6,768,000 | -22,581,000 | -38,061,000 | -1,094,000 | |||||||
shares surrendered for settlement of minimum statutory tax withholding | -4,887,000 | -20,422,000 | -8,793,000 | -5,230,000 | -5,942,000 | -3,275,000 | -3,056,000 | -4,596,000 | -9,564,000 | -3,884,000 | -11,000 | ||||||||
net cash from financing activities | -60,852,000 | -62,225,000 | -26,831,000 | -25,804,000 | 37,604,000 | -5,953,000 | -28,351,000 | -126,710,000 | -22,271,000 | -587,000 | -46,240,000 | -2,568,000 | -6,755,000 | -32,648,000 | -22,397,000 | -37,426,000 | -872,000 | 521,000 | 130,084,000 |
effect of exchange rate changes on cash and cash equivalents | -70,000 | 65,000 | -40,000 | 95,000 | 52,000 | -339,000 | 58,000 | 4,000 | -36,000 | -36,000 | 13,000 | 19,000 | 8,000 | ||||||
net increase in cash and cash equivalents | -19,948,000 | -34,054,000 | 20,119,000 | 7,062,000 | 67,909,000 | 29,587,000 | -6,318,000 | -109,334,000 | 2,410,000 | -26,790,000 | 34,811,000 | 15,044,000 | |||||||
cash and cash equivalents, at beginning of the period | 203,100,000 | 0 | 0 | 0 | 142,064,000 | 0 | 0 | 0 | 225,719,000 | 0 | 0 | 189,082,000 | |||||||
cash and cash equivalents, at end of the period | 183,152,000 | -34,054,000 | 20,119,000 | 7,062,000 | 209,973,000 | 29,587,000 | -6,318,000 | -109,334,000 | 228,129,000 | 13,572,000 | -26,790,000 | 34,811,000 | 204,126,000 | ||||||
non-cash operating, investing, and financing activities: | |||||||||||||||||||
acquisition-related deferred consideration | 101,000 | -572,000 | 0 | 13,058,000 | |||||||||||||||
accrued stock repurchase excise tax | 356,000 | -48,000 | 206,000 | -107,000 | |||||||||||||||
gain on sale of available-for-sale debt security | -110,000 | 0 | |||||||||||||||||
change in fair value of contingent consideration | 0 | -141,000 | -64,000 | -631,000 | 0 | 0 | |||||||||||||
non-cash interest expense | |||||||||||||||||||
other | 191,000 | 0 | -38,000 | 169,000 | 0 | 0 | 0 | ||||||||||||
acquisitions, net of cash acquired | |||||||||||||||||||
proceeds from sale of available-for-sale debt security | 110,000 | 0 | |||||||||||||||||
repayment of finance lease obligations | |||||||||||||||||||
payment of debt issuance costs | 0 | 0 | |||||||||||||||||
payment of share repurchase excise taxes and repurchase costs | |||||||||||||||||||
reconciliation of cash and cash equivalents in the consolidated balance sheets | |||||||||||||||||||
cash and cash equivalents | 247,504,000 | -71,407,000 | 143,732,000 | ||||||||||||||||
right of use assets obtained in exchange of operating lease liabilities | |||||||||||||||||||
capitalized stock-based compensation | 1,011,000 | 1,387,000 | 1,536,000 | 1,627,000 | 1,417,000 | 1,017,000 | 1,053,000 | 1,075,000 | 911,000 | 747,000 | 549,000 | 749,000 | 481,000 | ||||||
purchase of property and equipment included in accounts payable and accrued expenses and other current liabilities | 322,000 | 371,000 | -664,000 | -369,000 | 3,004,000 | 1,029,000 | 565,000 | -137,000 | 1,120,000 | -478,000 | 255,000 | 105,000 | 764,000 | 190,000 | -98,000 | ||||
issuance of common stock for acquisition consideration | |||||||||||||||||||
acquisition related deferred consideration | |||||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||||
share repurchase costs | 0 | ||||||||||||||||||
accrued stock repurchase costs | -778,000 | ||||||||||||||||||
issuance of common stock for business acquired | 20,048,000 | ||||||||||||||||||
right-of-use assets obtained in exchange of operating lease liabilities | |||||||||||||||||||
proceeds from disposal of assets held for sale | 37,051,000 | ||||||||||||||||||
impairment of long-lived assets | 11,000 | 493,000 | |||||||||||||||||
impairment of other equity security | |||||||||||||||||||
changes in operating assets and liabilities, net of effects of business combinations, asset acquisition and disposal of business: | |||||||||||||||||||
asset acquisition, net of cash acquired | |||||||||||||||||||
proceeds from acquisition working capital adjustment | 0 | 0 | 3,000 | 304,000 | |||||||||||||||
payment of contingent consideration | 0 | 0 | 0 | -549,000 | |||||||||||||||
repurchase and retirement of shares | |||||||||||||||||||
payment of stock repurchase costs | |||||||||||||||||||
supplemental cash flow data | |||||||||||||||||||
cash paid during the year for: | |||||||||||||||||||
income taxes | |||||||||||||||||||
right of use assets obtained in exchange for new operating lease liabilities | |||||||||||||||||||
receivable from issuance of stock under employee stock plans | |||||||||||||||||||
right-of-use assets under operating leases | 5,351,000 | 2,144,000 | 5,670,000 | ||||||||||||||||
amortization of prior hedge effectiveness | 0 | 19,000 | |||||||||||||||||
loss on debt extinguishment | 0 | ||||||||||||||||||
discontinuance of interest rate swaps and write-off of prior hedge effectiveness | 0 | ||||||||||||||||||
change in fair value of financial guarantee | 0 | 0 | |||||||||||||||||
change in fair value of derivative instruments | 0 | 364,000 | |||||||||||||||||
payment upon extinguishment of interest rate swaps | 0 | ||||||||||||||||||
purchase of other equity security | |||||||||||||||||||
repayment of finance and capital lease obligations | |||||||||||||||||||
repayment of 2018 term loan | 0 | -521,625,000 | |||||||||||||||||
repayment of hybrid debt | 0 | 0 | |||||||||||||||||
payment upon extinguishment of hybrid debt | 0 | ||||||||||||||||||
repurchase and retirement of common stock | |||||||||||||||||||
payment of special dividends | 3,000 | -68,000 | |||||||||||||||||
proceeds from issuance of common stock in initial public offering, net of underwriting discounts and commissions | 0 | ||||||||||||||||||
proceeds from private placement, net of underwriting discounts and commissions | 0 | ||||||||||||||||||
payment of stock issuance costs | -2,000 | ||||||||||||||||||
shares surrendered for settlement of minimum statutory tax withholdings | |||||||||||||||||||
effect of exchange rate changes on cash, cash equivalents and restricted cash equivalent | -51,000 | -34,000 | -33,000 | ||||||||||||||||
net increase in cash, cash equivalents and restricted cash equivalent | 8,207,000 | -71,407,000 | 143,732,000 | ||||||||||||||||
cash and cash equivalents and restricted cash equivalent, at beginning of the period | |||||||||||||||||||
interest | |||||||||||||||||||
conversion of series a redeemable convertible preferred stock into common stock in connection with initial public offering | 0 | ||||||||||||||||||
change in fair value of hedged interest rate swaps and interest rate cap | 0 | -2,684,000 | |||||||||||||||||
contingent consideration for acquired business | |||||||||||||||||||
net loss | -10,108,000 | -13,179,000 | -30,609,000 | ||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||
unrealized foreign exchange (gain) loss | -579,000 | ||||||||||||||||||
impairment of available for sale debt security | |||||||||||||||||||
loss on sale of business | |||||||||||||||||||
the accompanying notes are an integral part of these consolidated financial statements | |||||||||||||||||||
sale of business, net of cash sold | |||||||||||||||||||
proceeds from 2018 revolving facility | |||||||||||||||||||
repayment of 2018 revolving facility | |||||||||||||||||||
tender offer costs | |||||||||||||||||||
repurchase and retirement of common stock for tax withholding obligations | |||||||||||||||||||
cash, cash equivalents and restricted cash equivalent, at beginning of the period | 239,297,000 | 0 | 0 | ||||||||||||||||
cash, cash equivalents and restricted cash equivalent, at end of the period | 247,504,000 | -71,407,000 | 143,732,000 | ||||||||||||||||
reconciliation of cash, cash equivalents, and restricted cash equivalent reported in the consolidated balance sheets | |||||||||||||||||||
restricted cash equivalent | |||||||||||||||||||
total cash, cash equivalents, and restricted cash equivalent shown in the consolidated statements of cash flows | 247,504,000 | ||||||||||||||||||
non-cash investing and financing activities | |||||||||||||||||||
transfer of interest rate swaps derivative liability to hybrid debt | |||||||||||||||||||
contingent consideration for business acquired | |||||||||||||||||||
impairment of other equity securities | 0 | 0 | 170,000 | ||||||||||||||||
net increase in cash and cash equivalents, and restricted cash equivalents | -3,725,000 | ||||||||||||||||||
cash and cash equivalents, and restricted cash equivalents, at beginning of the period | 0 | ||||||||||||||||||
cash and cash equivalents at end of the period | -3,725,000 | ||||||||||||||||||
non-cash investing and financing activities: | |||||||||||||||||||
amortization of right-of-use asset | 474,000 | 378,000 | |||||||||||||||||
payment of initial public offering costs | |||||||||||||||||||
deferred offering costs included in accounts payable and accrued expenses and other current liabilities | |||||||||||||||||||
deferred financing costs included in accounts payable and accrued expenses and other current liabilities | |||||||||||||||||||
deferred offering costs | |||||||||||||||||||
repurchases of common stock for tax withholding obligations | -11,000 | -880,000 | -1,253,000 | ||||||||||||||||
impairment of goodwill and long-lived assets | |||||||||||||||||||
impairment of available-for-sale debt securities | |||||||||||||||||||
changes in operating assets and liabilities, net of effects of business combinations and disposal of business: | |||||||||||||||||||
purchase of available-for-sale debt securities | |||||||||||||||||||
proceeds from sale of equity method investment | |||||||||||||||||||
repurchase of common stock and restricted stock units | |||||||||||||||||||
payment of deferred purchase consideration | |||||||||||||||||||
conversion of available-for-sale debt security into other equity security | |||||||||||||||||||
changes in operating assets and liabilities, net of effects of disposal of business: | |||||||||||||||||||
proceeds from exercise of stock options, net of cash paid for employee tax withholding | 85,000 | ||||||||||||||||||
total cash, cash equivalents, and restricted cash equivalent shown in the condensed consolidated statements of cash flows | 143,732,000 | ||||||||||||||||||
impairment of investments |