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  "documentTitle": "LegalZoom.com | Results Presentation Deck | 28 slides",
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  "authorName": "LegalZoom",
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  "presentationDate": "2023-02-01 00:00:00",
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      "text": "(1) Stock-based compensation expense excludes amounts paid in cash to certain employees as part of a buyback program that concluded in 2022. (2)) In December 2022, we fully impaired our investment in Mylo and incurred a loss of $3.0 million as the fair value of our investment was determined to be zero based upon an observable sale of their common equity. (3) Restructuring expenses relate to certain one-time severance events for different components of our business, which were part of our overall reset of business strategy during 2019 and 2020. Such expenses are not expected to recur in the near or longer term. Due to continued decline in the business performance of Beaumont, our conveyancing business in the United Kingdom, we conducted a phased restructuring during 2019. In the fourth quarter of 2019, we restructured our United Kingdom Research and Development team, as part of the reset of our product strategy. In the first half of 2020, we restructured our United Kingdom business, mainly in our leadership and technology team. In the fourth quarter of 2020, we incurred $2.0 million in severance costs related to a reduction in headcount in our U.S. workforce. In the second quarter of 2022, we incurred $1.0 million in severance costs related to a reduction in our U.S. workforce. In the third quarter of 2022, we incurred $0.8 million in severance costs related to a reduction in our U.S. workforce. (4) Legal reserves and settlements include costs accrued or paid for potential litigation settlements, and are net of insurance recoveries, if any. (5) IPO-related costs and other transaction-related expenses includes certain non-recurring expenses, which occurred in connection with our acquisition costs in 2022 and IPO 2021. (6) In the second quarter of 2020, we incurred a loss on sale from the disposal of Beaumont of $1.8 million. In 2021, we incurred expenses related to early termination of our U.K. lease agreement. In the third quarter of 2022, $0.4 million of compensation expense was recorded in sales and marketing expenses related to the departure of a member of management. (7) We define non-GAAP net income (loss) as net income (loss) adjusted to exclude amortization of acquired intangible assets from our business combinations, non-cash stock-based compensation expense, losses from impairments of goodwill, long-lived and other assets, impairments of available-for-sale debt securities, acquisition related expenses, restructuring expenses, IPO-related costs and other transaction-related expenses and certain other non-recurring expenses, net of the related income tax impacts. Our non-GAAP net income (loss) financial measure differs from GAAP in that it excludes certain items of income and expense. We define net income (loss) margin as net loss as a percentage of revenue. We define non-GAAP net income (loss) margin as non-GAAP net income (loss) as a percentage of revenue.",
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      "text": "FYE Dec 31, $K\nNet income (loss)\nAmortization of acquired intangible assets\nStock-based compensation (1)\nLoss on debt extinguishment\nImpairment of goodwill, long-lived & other assets\nImpairment of available-for-sale debt securities\nImpairment of other equity security(2)\nAcquisition-related expenses\nRestructuring expenses (3)\nLegal reserves and settlements (4)\nIPO-related costs & other transaction-related expenses (5)\nCertain other non-recurring expenses (6)\nIncome tax effects\nNon-GAAP net income (loss) (7)\nNet income (loss) margin(7)\nNon-GAAP net income (loss) margin(7)",
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      "text": "Reconciliation of Net Income (Loss) to Non-GAAP Net Income (Loss)",
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