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What happened, with direct paths to the underlying reporting
LegalZoom CEO Dan Wernikoff is leaving, replaced by Jeffrey Stibel. Company cuts full-year revenue and EBITDA outlook, shares drop 30%. Transition aims at subscription-based revenue for growth, Stibel appointed as CEO. Revenue outlook reduced to $675-685 million, free cash flow cut. LegalZoom shares plunge over 30% to all-time low of $5.33.
- LegalZoom CEO Dan Wernikoff is leaving, replaced by Jeffrey Stibel.
- Company cuts full-year revenue and EBITDA outlook, shares drop 30%.
- Transition aims at subscription-based revenue for growth, Stibel appointed as CEO.
- Revenue outlook reduced to $675-685 million, free cash flow cut.
- LegalZoom shares plunge over 30% to all-time low of $5.33.
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