LegalZoom: Improving Subscription Trends, Expanding Margins, And A Lower Share Price

  • I see LegalZoom as a compelling small-cap value play, especially as large-cap valuations look stretched amid macro uncertainty. LegalZoom's accelerating revenue growth, expanding subscriber base, and flat expenses are driving significant profit expansion, yet the market hasn't recognized this turnaround. The company is shifting toward recurring subscription revenue, boasts strong retention, and has a large buyback authorization supported by a robust net cash position.