LEGALZOOMCOM INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
LZ$4.71-2.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net income (loss) | $13,953 | $(48,733) | $(108,664) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 25,383 | 21,745 | 16,686 |
| Amortization of debt issuance costs | 227 | 227 | 1,392 |
| Amortization of prior hedge effectiveness | — | — | 3,095 |
| Amortization of right-of-use assets | 2,692 | 2,049 | — |
| Stock-based compensation | 66,015 | 80,469 | 112,596 |
| Impairment of long-lived assets | — | 248 | 924 |
| Impairment of other equity security | — | 3,000 | — |
| Loss on debt extinguishment | — | — | 7,955 |
| Discontinuance of interest rate swaps and write-off of prior hedge effectiveness | — | — | 8,688 |
| Deferred income taxes | 4,712 | (793) | (11,595) |
| Change in fair value of contingent consideration | (836) | (150) | — |
| Change in fair value of financial guarantee | — | — | (150) |
| Change in fair value of derivative instruments | — | — | 392 |
| Change in fair value of other equity security | — | — | (1,812) |
| Unrealized foreign exchange (gain) loss | (1,387) | 3,558 | 943 |
| Other | (39) | 168 | 4 |
| Changes in operating assets and liabilities, net of effects of business combinations, asset acquisition and disposal of business: | |||
| Accounts receivable | 1,441 | (2,505) | (1,511) |
| Prepaid expenses and other current assets | 1,557 | (523) | (4,965) |
| Other assets | 435 | 179 | (3,648) |
| Accounts payable | 5,025 | (6,609) | 2,360 |
| Accrued expenses and other liabilities | 4,119 | 6,535 | 13,781 |
| Operating lease liabilities | (2,319) | (2,135) | — |
| Income tax payable | (4) | 28 | (185) |
| Deferred revenue | 3,334 | 17,079 | 17,866 |
| Net cash provided by operating activities | 124,308 | 73,837 | 54,152 |
| Cash flows from investing activities | |||
| Acquisitions, net of cash acquired | — | (2,532) | (61,523) |
| Asset acquisition, net of cash acquired | — | (6,299) | — |
| Proceeds from acquisition working capital adjustment | — | 307 | — |
| Purchase of property and equipment | (31,593) | (22,098) | (11,740) |
| Payment upon extinguishment of interest rate swaps | — | — | (3,283) |
| Purchase of other equity security | — | — | (1,127) |
| Other | 38 | — | — |
Consolidated Statements of Cash Flows (continued)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Net cash used in investing activities | (31,555) | (30,622) | (77,673) |
| Cash flows from financing activities | |||
| Repayment of finance and capital lease obligations | (35) | (14) | (31) |
| Payment of debt issuance costs | — | — | (767) |
| Repayment of 2018 Term Loan | — | — | (524,300) |
| Repayment of hybrid debt | — | — | (1,332) |
| Payment upon extinguishment of hybrid debt | — | — | (9,774) |
| Payment of contingent consideration | — | (600) | (1,049) |
| Repurchase and retirement of common stock | (54,873) | (95,126) | — |
| Payment of stock repurchase costs | (100) | — | — |
| Payment of special dividends | — | — | (112) |
| Proceeds from issuance of common stock in initial public offering, net of underwriting discounts and commissions | — | — | 581,833 |
| Proceeds from private placement, net of underwriting discounts and commissions | — | — | 85,050 |
| Payment of stock issuance costs | — | — | (5,636) |
| Shares surrendered for settlement of minimum statutory tax withholdings | (9,587) | (41) | (2,342) |
| Proceeds from issuance of stock under employee stock plans | 8,445 | 2,438 | 1,819 |
| Net cash (used in) provided by financing activities | (56,150) | (93,343) | 123,359 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalent | 34 | (87) | (11) |
| Net increase (decrease) in cash, cash equivalents and restricted cash equivalent | 36,637 | (50,215) | 99,827 |
| Cash and cash equivalents and restricted cash equivalent, at beginning of the period | 189,082 | 239,297 | 139,470 |
| Cash and cash equivalents, at end of the period | $225,719 | $189,082 | $239,297 |
| Supplemental cash flow data | |||
| Cash paid during the year for: | |||
| Interest | $— | $— | $12,284 |
| Income taxes | 6,598 | 741 | 1,459 |
| Non-cash operating, investing, and financing activities: | |||
| Right of use assets obtained in exchange for new operating lease liabilities | $63 | $7,528 | $— |
| Capitalized stock-based compensation | 4,056 | 2,526 | 674 |
| Purchase of property and equipment included in accounts payable and accrued expenses and other current liabilities | 2,577 | 646 | 676 |
| Conversion of Series A redeemable convertible preferred stock into common stock in connection with initial public offering | — | — | 70,906 |
| Change in fair value of hedged interest rate swaps and interest rate cap | — | — | (5,817) |
| Accrued stock repurchase excise tax | 185 | — | — |
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