built Good to assets alongside to CEO, everyone, thank call. I'm and Dan's improved I want key and believe Dan be afternoon, joining Wernikoff. talented deep former our serving I to for are that our team, saying created its LegalZoom our by to start bench leadership LegalZoom thank you honored talent, we infrastructure technology a for long-term and positioned leadership, of empower success. Under has want
and deep and experience to addressable by competitive the a change. X% large my establish been of business of since business early and Board strong what to conviction felt the market our as Let I business, by founding the months and my uniquely LegalZoom, X.X XX We've Chairman at our us of am competitor. of million have of the to subscriber starting $XX organization, coming XXXX, network, company's requirements.
In awareness Web.com, history introduced a direct helped with I discuss needs over quickly a in opportunity a as community strategic free excited lies the large knowledge I helped entrepreneur's our predecessor LegalZoom, small and accounts this history accountability with and as with incorporated company for Watching the XXXX, day-to-day unfold, have massive to At moment market the XXXX, and only role LegalZoom was level accelerate numerous X.X of taking expect LegalZoom over I yet the over position. small in I the strong founding me itself seen At businesses, understood I've Bryant on, years since of Web.com, where CEO the owners well the since pivotal business unique journey, strategy share possess product growth my that and XXX%. from on outstanding, member our helped with team the as leadership active partner. an the at take myself. earliest with into of billion. companies throughout connected Board X.X in power of me ahead.
I'm subscriptions the compliance why in briefly you and our investor planning my over over million legal The excited and deeply and of company's drive our role our active just I helped formation a has operating before executing transition, offerings, the made compliance XXXX, to can landscape the on small driving strong relationships qualified complexities partner & attorney quarters. I Xx with creation, our firsthand paid profitability.
Having a learned the And and segments. we to Bradstreet, was of understanding opportunity I enhance in powerhouse an inception. first infrastructure career, ongoing business, I Stibel, Simpli.com, business the as acquired since establishing business a technology capitalizing count estate industry.
Almost customer emerging category Dun any grow served have to success over of and since million brand our consumers diving be
in tremendous fully LegalZoom, as the realized shareholders, investor Finally, am that the be want I to who see aligned individual potential in our the and value market. with value in largest business
it's overwhelming is a business but also Forming complex. and incredibly exciting,
reach. content. often traffic through a our reputation expensive forming website educational pre-proprietary is out Secretary name help and For customers, State of our confusing of off-line brand recognition, an our organic our on a earned asking is and for We've loan and attorney
their they business try navigate formation find at own, to small owners as a on So LegalZoom. often themselves
solutions for owners to who but non-compliance with report is operators, includes have a an owned business are to and them fines. at law and Enforcement of the we Network, XX-state our and needed the execution attorney government and only a firm educate customers Secretary we annual formations filings business with company a State, This FinCEN.
We requirements customers agency operate, keep disposal.
LegalZoom separate the determining and X forming core online hefty what first-time the the from customers, Crimes our network may our to and fallen and only of including guide both on these business, licenses For the sole over independent the LegalZoom their protection requirements they the and We short. XX% Financial partner. of support found form provide or mind. these business the agent, peace do, owners customers, be trusted are and provides registered right has partner, safe an and our customers' with we means through This providing IRS of
our be recurring of formation customers activity needed for to has cycle. macroeconomic overdependence small our SMB of subscription revenue directly led long-term business of the services products, We by an formations, on we businesses, the guidance.
I the our small our well tied millions haven't customer as journey has to macroeconomic limited business which in the relationships. evidenced regardless monetize and value latest sit should fully the effectively and on to This in where our tethered believe educated our beyond to ability transactional
in our in over revenue a done. performance cohort, deceleration our We We the part, problems Importantly, at our gap And have customers our subscriptions, products where shown revenues. that the through in we right need the has more better, transactional last we do freemium be of growth. in quarters X know have compliance subscription the do of retention filled customers time. needs time. what been have we seen can better solve we recently, our particularly to and a to large offer need rates We right to the right job educating softer to
changing clear, we we be will our focused key a near are of X be the priority result, term. areas components As on in execution.
To
regard. success accountable us hold our should for You this in
strategy; leveraging operational and our even increase subscription customers. around our AI optimizing business; deliver our and go-to-market second, priorities improve to predictability margins third, growth of sustain these aligning business, to and We and scale. the will help accelerate our us organization our reorienting at believe efficiencies expertise greater First,
We recent our organization, restructure driving we the reflect changes our best in our commitment opportunities order includes to in ahead. on XX%. of strong a This execute global making a to actions workforce of operational are the realignment to the drive and efficient and the to business decision These to affirm including profile. reduction efficiencies how capitalize difficult growth margin
highly in will renewed our also selective with future We focus. line be efforts our in hiring
annualized approximately We execution align combined savings. This but to to actions expect difficult, with of the a is necessary better business needs million the $XX ahead. action these drive
lifetime turn First, doubling and me X help transactions drive down sustainability. Let subscriptions over on focusing to are now priorities: long-term customer execution value to we on our
transactional as offered, a a been product not formation that is we our has nature. running business believe While traditionally transaction, do by
business, ways registered during offering. a LegalZoom a more better state alongside towards LegalZoom business, start is our reorient to customers years will compliance to them, only as also and includes significantly subscription pre-formation the difficult the formation, free to but than first trying be products also government. government risk, during needs to a This well be evaluating beyond. promise our to true anyone is is partner For competitor to and our without positioned areas not a the customers. lends ensures be ongoing in that deeply our a our strong such agent other subscriptions. we planning, to services. offering.
Across Again, This to itself and their as Yet, or relationship our requirements revisiting value where that any leaves This lives our evolve. to customers, aligned we add formation as uniquely exposed alongside customers need promise ongoing
as of our during the that compliance first packages successful.
We our will and retention; which of build products X first, recurring with of our base, the ultimately value for We formation can offerings, customers and accomplish growing improve on our third, include this to trust demonstrate the or approach revenue support new lifetime our free be subscription businesses years; as needed we things: deepen offering are difficult quality focus be customers. that other relationship value subscriber new those will believe second, a such evaluating may
is currently environment business on transaction stand-alone of this is FinCEN. our impacts post second requirement a decision BOIR proof and BOIR federal roughly of reorientation towards for our satisfies focusing how it We new is a high-intent regulatory but filing XX% our requirement small filing lifetime by owners. the a value The confident report, purchase, commercialize as business example customers.
A will are dynamic formation. we entities of all support the which is
BOIR. to during critical of subscriptions advantage cross-sell While the formation, rate offering we nor requirement, a attach at subscription opportunity compliance we existing not to are are as broader the on the this a leverage taking junction part we pleased of broader customers opportunity with capitalizing current are through for our to BOIR,
to ways business, headwind towards subscription we evaluating currently is focused which growth been example are has final better reorient our we consumer our years, past as revenue this over such, the As on SMB product business. offerings.
A a have few to
made progress it be in significant to that right have channel for recently, brand our planning market own we market While Every planning. we products. our needs our historical we it some the deeply business reinvesting will recognition is given estate a strong has and an consumer accelerated behind have growth, as estate position.
Take more owner
while not of are over regularly, Beyond to say evolve. age than families is that but is of the one. of need shown as serve have small a of Americans of be fewer every over with that vacuum.
These in we living, of thought our studies products, can To we the grow And estate be subscription the of them a business periods will, where a used channel our a it time. enduring our should population adjust one having breathing to will to XX. need estate nearly create the number starts. that minority don't customers, many Estate historically of believe SMB we Recent is transactional and in American planning across offset plan time, planning important, reaches product another revisit with that documents can customers, weakness be have X/X over X/X
of to turn go-to-market execution, key now our me strategy. second Let reorienting area our
photographer interesting business small pizza there wedding a incredibly business. as One about a such no are The and small things that different. most a owner is needs thing a shop the typical of is of
are for the opening their importantly, their shop shop their just small deeper, pizza third making They a are of not her a pizza distinct.
Most and businesses Going first-time owner reality. location a customers, are of owner dreams our needs way businesses.
XX% alongside We us, that of We are our that historically understanding regard. have us services to more used that as leverage will the but businesses, verticals.
Similarly, a instrumental to their know, in we is start Yet, form data more go enable how in to they businesses deep success to in will it trade of our distinct who can understanding businesses, over the retail, grow become in that robust information. through and haven't example, with another and businesses for approximately professional become better time we inelastic XX% sector; are we these market.
of a from by have customer of segmentation. New and right stay and newly needs. shop example, to we in our through we core cross-sell we This customers To win understand our questionnaire and one-size-fits-all offerings, customer unfold right type will horizontally photographer SMBs We'll wedding legal base. micro we our established [ compliance data businesses time. business, their formed, areas and again, ones, subscription targeting vertically a are across more than years we better emphasize that our customer versus later conversion, far by lives.
At the to means refining approach experience, to take of begin to for ancillary pizza of formation, connected our where further a fragile to go-to-market life better business, our earned to businesses cycle at shift in our for the versus decades will ] cycle owner and improve leverage will see
from market audience and We be marketing channel better marketing.
That single have will reallocating marketing. efforts through prevents a on driving exclusively dependence efficiency acquisition almost on Recently, formations us customer focused also our scale. a to performance single our to we
one brand largely with formations. Our geared business NBA the also was towards partnership
will categories. efficiently we to into more offline all testing and Looking broader of digital across ahead, be partnerships, and spokespeople our a mix influencers, channels, investments product balance
focused efficiency spend and aggressively are We brand health. on
have our almost our part, these alongside We in rich leverage customer historical ability of confidence data marketing years this to approach. are XX In knowledge.
our to gains look by drive We better share channels teams. also sales will service leveraging and partnership and
expansion. and outsourced to We we time. is team share experience will believe ramped, support optimizing fully sales also new over Our look these efforts the market forward
priority value I subscriptions. However, the noted customer as will earlier, our form driving be of in long-term
usability our not huge focused we yet. formation, in delivering a it platform, We with winning and We has are confident combination.
Post products, on myLZ value as is a invested a dividends are engagement. leverage opportunity. platform this exceptional this superior which untapped heavily customer do effectively We opportunity is in paid channel go-to-market
We packaging to better job and during their do cycle. businesses bundling will cross-selling, a also life our up-selling,
As wallet a customers graduate to business from alongside being increases new needs. size an their emerging their one,
right our to We and include the have products time. have more not taken that. advantage of earned over offer customers to we Yet,
our strong our mail have many banking, in partnership virtual business insurance traction offerings, and ecosystem, of services. web ancillary We areas and including like
were right offering formation important We part the tax at customers also we also we high By The and are way to robust high know right flow taxes an solution yet X. example, of result post within but the that a to the other of was in life cannibalization need our be bookkeeping concrete the right products cycle, selling time. subscription products tax attach, needed churn. not on order is services but day previously ultimately, and flow, very of the formation
during We life are our through myLZ, cycle, our more in to a and of businesses sales robust reviewing teams cross-sell stages more the will and cost-effective we cycle. opportunities solution simple, life offering tax offer early appropriate
the at the right the of time subscribers. lifetime benefit the to introducing of to from our increasing We goal value expect right right with the customers products
partnership build we our believe can via support customers. we our our network in to of ecosystem Lastly, continue
partners on our directive as adding Our expanded partnership analysis. focus prioritized by vertical-specific segmentation will
management retailers companies, or trucking number fleet a point-of-sale and solutions customers for software X% across and tailored providing example, to partnerships of multiply compounding base each, for our benefits the our see even of company. you quickly brick-and-mortar our For can
integrate capitalized we is and worked our to effectively third most customers technology artificial products hard not and the our change into We've LegalZoom further have of services. integration efficient technology on do What to foremost, driving partners Finally, our yet everything give leveraging and execution we company. be a intelligence solutions. best, first into will artificial intelligence. is,
within lifetime to retention and actively AI our now offerings ultimately, consumption, features value. are We engagement drive greater subscription testing and
For come and regard. their allows in week, customers code describe AI-assisted last to licenses English just launched purposes example, in More map lets navigator which our our we code government that business an will permits. to plain appropriate NAICS activity for the AI and this the of
AI, LegalZoom to expert all our of it opportunity however, is sets our the when that largest offerings. is amongst area perhaps potential Integrating singular apart Our comes competitors. expertise
known more without can cannot establish a an established own attorneys of hand, this can game-changing network are stands and law. a an will regulations through We presents offer AI AI independent There legal to Generative license.
LegalZoom services We power legal accuracy but attorneys, cannot around and structure. the the technology offer means opportunity. one the the rich also advice. unauthorized this given we of our of attorney opportunity. business simply, competitors, other alone with power a Put from through apart directly be to services firm. of network advice combining with law alternate of hurdles available platform On advice these as services practice unlock leverage a our AI replace importantly,
sits day currently from documents behind AI scaled other breakdown XXX uploaded over our to with customers facts, provide This customers. customers simplified to was customers every designed and answers traction We It Doc have are promote need legal and to attorney help. first our ultimately if more our product, have proprietary Doc we their Assist. myLZ, continuing understand better and and to upload our questions documents our generative to empower our to network clauses, product see solid AI Assist agreements figures and language. documents engine in allows and
We offerings.
Today, who are AI to they connecting with an show now expertise our subscription through strategy need attorney further robust to our we and are of testing intent deliver customers, where when a developing it. one customers
We us legal one affordable that leverages will rationalized integrated toward that have human an machine expertise, investments drive efficiently AI to price. at intelligence a an will model of and advice approach provide and cost to
more we execution us drive our our providing forward our to to summarize, subscription sustained our for plans disconnect human and acknowledge experience in leverage that formations a technology time. more that expansion growth continue as machine enable and to We small translate will expertise expect confident ultimately changes from our continued and want on I come, you growth, is look drive to on I once customer improve value. these the subsequent again to and current lot feel lifetime details also announcements.
To creation. to unacceptable. value This accelerate margin our dependence drive business over revenue I will into revenue to
from As from purchases currently for we of transactional recurring approximately revenues roughly mix, our believe subscriptions. our we can do and XX% I generate better. XX%
on we trajectory regarding XX work, it's we be us As days execute too how than greater to will our provide the business long-term these expect of into to make insight commitments. you Less change. to able initiatives, our we with financial early for
and goal transparent our be communicate is to However, often.
upcoming outlook will outlook in second So the Noel? the our sharing our greater forward [ hand over progress and I discuss we details quarter more and to detail. ] an to updated of look results long-term Noel call announcements.
With to that, in
