LegalZoom.com, Inc.

and thank you for standing by. Welcome to LegalZoom's first quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 11 on your telephone. You'll hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Madeline Crane, Head of Investor Relations. Please go ahead.

Thank you, Operator. Welcome to LegalZoom's first quarter 2026 earnings conference call. Joining me today is Jeff Stiebel, our Chairman and Chief Executive Officer, and Noelle Watson, our Chief Operating Officer and Chief Financial Officer. As a reminder, we will be making forward-looking statements on this call. These forward-looking statements can be identified by the use of words such as believe, expect, plan, anticipate, will, intend, and similar expressions, and are not and should not be relied upon as a guarantee of future performance or results. Such forward-looking statements are based on management's assumptions and expectations and information available to us as of today's date. These forward-looking statements are also subject to risks and uncertainties that could cause actual results to differ materially from such statements. These risks and uncertainties are referred to in the press release we issued today and in the risk factor section of our most recent annual report on Form 10-K filed with the Securities and Exchange Commission. Except as required by law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events, or otherwise. In addition, we will also discuss certain non-GAAP financial measures. We use non-GAAP measures in making decisions regarding our business, and we believe these measures provide helpful information to investors. These non-GAAP financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations of all non-GAAP measures to the most directly comparable GAAP measures are set forth in our investor presentation, which can be found on the investor relations section of our website at investors.legalzoom.com. I will now turn the call over to Jeff.

Thank you, Madeline, and thank you all for joining our call. LegalZoom is a different company than it was two years ago, more focused, better positioned, and increasingly differentiated. We're building a subscription-led, AI-enabled platform that serves small businesses across their entire lifecycle. Our results this quarter show that the strategy is working. Total revenue growth of 13% year over year and adjusted EBITDA of over $36 million. Both exceeded our expectations. In 2026, we are focused on three core growth levers. One, driving high quality subscription growth through premium human in the loop offerings. Two, scaling customer acquisition through partnerships and AI channels. And three, leveraging AI to enhance the customer experience and to drive efficiency. We are seeing clear traction across each of these areas. Q1 marked our fourth consecutive quarter of double digit subscription growth, led by strong momentum in our human in the loop offerings. Through these personalized, higher value services, we are strengthening our customer relationships and increasing lifetime value. is how we've repositioned LegalZoom for more durable growth in an AI-driven market. AI is reshaping the first mile of the customer journey, expanding access and bringing more customers into the market. But at the last mile, where high stake decisions are made, expert judgment, execution, and accountability still matter. That's where LegalZoom is differentiated. Our human-in-the-loop strategy remains central to how we differentiate and where we see some of our most attractive growth opportunities. At a high level, this includes both our service layer, products like registered agent and virtual mail, and our expert layer, which now includes legal plans, IP services, and concierge offerings. Together, these solutions address higher value customer needs through a combination of automation and professional guidance, supporting stronger ARPU and lifetime value. In Q1, revenue across our expert-led offerings grew more than two times faster than our overall business year over year and continues to accelerate. The standout performer is our concierge suite, now at over three times average ARPU. We are tapping into an underserved market. For example, we estimate that nearly one-third of U.S. small businesses are in bad standing. or at risk of falling out of compliance each year. LegalZoom is the only provider offering a fully managed do-it-for-me reinstatement and compliance solution, and demand has consistently exceeded our expectations since launch. We are extending this strategy through curated high-value formation and concierge bundles sold exclusively through our sales team. These packages combine entity formation with ongoing compliance and advisory services, bringing customers directly into higher value subscription relationships from day one. We are excited to see the robust rate of adoption with customers increasingly opting for higher tier bundles. These packages support higher ARPU, are driving more durable customer relationships, and reinforce the value of expert-led support. As a result, We are using concierge not just as a product, but as a strategic entry point to engage more established small business customers, a key long-term growth opportunity for LegalZoom. Moving to our second growth lever, we are continuing to diversify our go-to-market model to make customer acquisition broader and more efficient over time. We've accelerated both the number of partners and the velocity of growth within this channel. Our expanded partner portfolio drove order volume from partnerships to 10% of total orders, up from 4% a year ago, reflecting both increased scale and higher intent customers. New partnerships include LinkedIn, Chase, and our strategic partnership this year with GoDaddy, where LegalZoom is now the sole legal services provider across their ecosystem. We have a strong pipeline of diversified partnership opportunities, and expect these to fuel a greater share of high-value customer acquisition in 2026 as we work to diversify our top of funnel. This quarter, we made a deliberate decision to front-load our marketing investment, aligning spend with peak business formation seasonality. That investment delivered. Unaided brand awareness increased 19% year over year. Direct traffic to LegalZoom.com grew 13%. and conversion remains strong. These are important signals that our brand investments are driving both awareness and higher value customer acquisition. Our goal is straightforward. Meet customers where they are, bring them into the LegalZoom ecosystem, and introduce them to higher value services over time. Importantly, this approach extends to how we are positioning LegalZoom within AI ecosystems. We've long described LegalZoom as the last mile solution in an AI-driven world. In this quarter, we continue to embed ourselves into the platforms where customers are asking questions and making decisions. That includes the LegalZoom Connector for Claude and the LegalZoom Chat GPT Formations app, both launched in Q1. While still early, these integrations are strategically important, allowing us to be present at the moment of intent when a small business owner is ready to act. Over time, we believe this will position LegalZoom to capture more high intent demand and further strengthen our role as the trusted partner to help customers complete their journey. Finally, we are embedding AI across our workflows and reimagining our organization to increase speed, improve quality, and drive efficiency. As Noel will detail, we are already seeing tangible impact. Our AI-powered tools are empowering our experts, improving sales effectiveness, increasing customer satisfaction, and allowing us to scale output without proportional increases in headcount. This is translating into real operating leverage and will be an increasingly important driver of our planned margin expansion throughout the year. Stepping back, these initiatives reflect a business that is becoming more durable more efficient, and better positioned for long-term growth. As we move through 2026, we are executing with clarity and building momentum across each of our growth levers. AI is changing how businesses start, but starting is the easy part. Getting to the finish line is what matters, and that's where we win. We combine technology with real human expertise to solve the last mile, deliver outcomes, and help our customers move forward with confidence. That combination is difficult to replicate, and it is what we believe will continue to set LegalZoom apart. Thank you, and I'll now turn it over to Noel.