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Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
Our Chief Executive Officer, as the CODM, organizes our company, manages resource allocations, and measures performance on the basis of one operating segment on a consolidated basis. The accounting policies of our operating segment are the same as those described in Note 2, Summary of Significant Accounting Policies. The CODM assesses performance for the segment and decides how to allocate resources based on net income that also is reported on the accompanying unaudited condensed consolidated statements of
operations as consolidated net income. The measure of segment assets is reported on the unaudited condensed consolidated balance sheets as total assets.
The CODM uses net income (loss) to evaluate income generated from segment assets in making key operating and segment resource allocation decisions, such as investments in new product development. Net income (loss) is also used to monitor budget versus actual results.
Our one reportable segment provides an online platform for business formation in the U.S. and, as described in Note 2, Summary of Significant Accounting Policies, generates revenue from customized legal document services and subscriptions offered to our customers. Revenue outside of the U.S., based on the location of the customer, represented less than 1% of our revenue for the three and six months ended June 30, 2026 and 2025. Long-lived tangible assets located outside the U.S. represented approximately 11.1% of total long-lived tangible assets as of June 30, 2026. Long-lived tangible assets located outside the U.S. were immaterial as of December 31, 2025.
The following table summarizes financial information by reportable segment regularly provided to the CODM (in thousands):

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Transaction revenue$71,890 $72,611 $148,513 $139,464 
Subscription revenue133,399 119,898 263,557 236,155 
Total revenue205,289 192,509 412,070 375,619 
Less:
Filings fees26,505 27,319 60,408 52,538 
Other cost of revenue, excluding depreciation, amortization and stock-based compensation33,058 33,288 68,108 68,254 
Customer acquisition marketing52,639 46,713 107,693 90,929 
Other sales and marketing, excluding depreciation, amortization and stock-based compensation19,085 15,940 35,968 27,620 
Technology and development, excluding depreciation, amortization and stock-based compensation14,243 14,819 28,409 29,897 
General and administrative, excluding depreciation, amortization, stock-based compensation, and restructuring13,861 15,465 29,728 31,947 
Stock-based compensation23,596 30,638 44,910 60,394 
Depreciation and amortization11,274 11,339 22,411 21,745 
Interest income(1,627)(2,069)(3,275)(3,552)
Interest expense126 165 802 347 
Restructuring(1)
378 88 1,021 766 
Other segment items(2)
3 (652)(78)(999)
Provision for (benefit from) income taxes6,965 (278)9,678 5,209 
Gain on sale of assets held for sale— — — (14,337)
Segment net income (loss)5,183 (266)6,287 4,861 
Reconciliation of profit or loss
Adjustments and reconciling items$— $— $— $— 
Consolidated net income (loss)$5,183 $(266)$6,287 $4,861 
(1) For 2026 and 2025, restructuring costs related to the reduction of our global headcount.
(2) Other segment items included in segment net income primarily consist of foreign currency gains or losses related to our intercompany loans which were denominated in British Pound Sterling and included in other (expense) income, net on the unaudited condensed consolidated statements of operations.