Business FormationsBusiness applications fell 3% year-over-year, leading to a projected decline of 21% year-over-year in LegalZoom business formations for 4Q24.
Financial PerformanceHeavy competition in the space requires hefty sales and marketing and research and development investments to sustain market share, limiting pricing power across LegalZoom’s product suite.
Market ShareLegalZoom's traffic share on top business registration websites declined, with competitors gaining more market share.