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Reconciliation of Net Cash Provided by (Used in)
Operating Activities to Free Cash Flow
FYE Dec 31, $K
Net cash provided by (used in)
operating activities
Purchase of property and equipment
Free cash flow (1)
Operating cash flow margin(2)
Free cash flow margin(2)
2020
2021
$93,049 $54,152
(10,587)
(11,740)
42,412
82,462
20%
18%
9%
7%
Q2'22 Q3'22 Q4'22
2022 Q3'21 Q4'21 Q1'22
Q1'23 Q2'23
$73,837 $19,460 ($6,004) $13,737 $11,020 $27,258 $21,822 $29,208 $45,165
(22,098)
(4,911) (5,468) (6,062) (5,657) (7,428) (7,799)
51,739
8,826 5,552 21,196 16,165 21,780 $37,366
18%
15%
18%
27%
14%
11%
(2,496) (3,240)
16,964 (9,244)
13%
11%
(4%)
12%
8%
9%
6%
7%
3%
(7%)
13%
22%
(1) We define free cash flow as cash generated by operations after purchases of property and equipment including capitalized internal-use software. (2) We define operating cash flow margin as net cash provided by operating activities as a percentage of
revenue. We define free cash flow margin as free cash flow as a percentage of revenue. We define unlevered free cash flow margin as unlevered free cash flow as a percentage of revenue.
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