• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    LivePerson Announces Second Quarter 2024 Financial Results

    7/31/24 4:30:00 PM ET
    $LPSN
    Computer Software: Prepackaged Software
    Technology
    Get the next $LPSN alert in real time by email

    -- Total Revenue of $79.9M, at the high-end of our guidance range --

    -- Adjusted EBITDA above the high-end of our guidance range  --

    NEW YORK, July 31, 2024 /PRNewswire/ -- LivePerson, Inc. (NASDAQ:LPSN) ("LivePerson", the "Company", "we" or "us"), the enterprise leader in digital customer conversations, today announced financial results for the second quarter ended June 30, 2024.

    LivePerson Logo (PRNewsfoto/LivePerson, Inc.)

    Second Quarter Highlights

    Total revenue was $79.9 million for the second quarter of 2024, a decrease of 18.1% as compared to the same period last year driven by customer cancellations and downsells.

    LivePerson signed 37 deals in total for the second quarter, consisting of 28 existing and 9 new customers, including 1 seven-figure deal. Trailing-twelve-months average revenue per enterprise and mid-market customer (ARPC) increased 9.6% for the second quarter to $630,000, up from approximately $575,000 for the comparable prior-year period. ARPC is calculated using only B2B Core recurring revenue, which is consistent with the revenue base for calculating Net Revenue Retention.

    "In the second quarter we continued to deliver on our guidance and advance across all key focus areas. We meaningfully improved our capital structure with our debt transaction and bolstered our go-to-market motion by adding an accomplished Chief Revenue Officer while instituting new pricing and packaging. In addition, we took significant steps towards launching our omnichannel partnership and solutions with partners while continuing to innovate on our product with new capabilities and integrations showcased at our Spark event," said CEO John Sabino. "With a best-in-class product and strong commercial leadership now in place to deliver the digital capabilities enterprises need, we are continuing to execute on our strategy as demonstrated over the past two quarters."

    "We have the right strategy and leadership team to execute it," said CFO and COO John Collins. "We delivered sequential improvement in deal values and other key operating metrics in the second quarter and we expect continued execution of our strategy to unlock further progress in the third quarter."

    Customer Expansion

    During the second quarter, the Company signed 37 total deals for the quarter, including 1 seven-figure deal, 28 expansion & renewals and 9 new logo deals. New logo deals included:

    • A large New Zealand-based telecommunications company; and
    • A large U.S. mortgage company.

    The Company also expanded/renewed business with:

    • A global financial services company; and
    • A global audio streaming company.

    Net Income and Adjusted Operating Income 

    Net income for the second quarter of 2024 was $41.8 million or $0.47 per share, as compared to a net income of $10.8 million or $0.14 per share for the second quarter of 2023.  Adjusted operating income, a non-GAAP financial measure, for the second quarter of 2024 was $0.5 million, as compared to $0.4 million adjusted operating income for the second quarter of 2023. Adjusted operating income excludes amortization of purchased intangibles and finance leases, stock-based compensation expense, other litigation, consulting and other employee costs, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, working capital adjustment related to the Kasamba divestiture, IT transformation costs, loss (gain) on divestiture, contingent earn-out adjustments, acquisition and divestiture costs,  interest expense (income) net, gain on debt extinguishment, and other income, net.

    A reconciliation of non-GAAP financial measures to GAAP measures has been provided in the financial tables included in this press release. An explanation of the non-GAAP financial measures and how they are calculated is included below under the heading "Non-GAAP Financial Measures."

    Adjusted EBITDA

    Adjusted EBITDA, a non-GAAP financial measure, for the second quarter of 2024 was $8.2 million as compared to adjusted EBITDA of $10.2 million for the second quarter of 2023. Adjusted EBITDA excludes amortization of purchased intangibles and finance leases, stock-based compensation expense, depreciation, other litigation, consulting and other employee costs, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, working capital adjustment related to the Kasamba divestiture, IT transformation costs, loss (gain) on divestiture, contingent earn-out adjustments, provision for (benefit from) income taxes, acquisition and divestiture costs, interest expense (income), net, gain on debt extinguishment, and other income, net.

    A reconciliation of non-GAAP financial measures to GAAP measures has been provided in the financial tables included in this press release. An explanation of the non-GAAP financial measures and how they are calculated is included below under the heading "Non-GAAP Financial Measures." 

    Cash and Cash Equivalents

    The Company's cash balance was $146.0 million at June 30, 2024, as compared to $210.8 million as of December 31, 2023.

    Financial Expectations

    The following forward-looking measures and the underlying assumptions involve significant known and unknown risks and uncertainties, and actual results may vary materially from these forward-looking measures. The Company does not present a quantitative reconciliation of the forward-looking non-GAAP financial measures, adjusted EBITDA and adjusted EBITDA margin to the most directly comparable GAAP financial measures (or otherwise present such forward-looking GAAP measures) because it is impractical to forecast certain items without unreasonable efforts due to the uncertainty and inherent difficulty of predicting, within a reasonable range, the occurrence and financial impact of and the periods in which such items may be recognized. In particular, these non-GAAP financial measures exclude certain items, including amortization of purchased intangibles and finance leases, stock-based compensation expense, depreciation, other litigation, consulting and other employee costs, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, working capital adjustment related to the Kasamba divestiture, IT transformation costs, loss (gain) on divestiture, contingent earn-out adjustments, provision for (benefit from) income taxes, acquisition and divestiture costs, interest expense (income), net, gain on debt extinguishment, and other income, net, which depend on future events that the Company is unable to predict. Depending on the size of these items, they could have a significant impact on the Company's GAAP financial results.

    For the third quarter of 2024, we expect total revenue to range from $69M - $73M or (32)% to (28)% year over year. We expect B2B Core recurring revenue to represent 92% of total revenue. For the third quarter of 2024, we expect adjusted EBITDA to range from $0M to $5M, or a margin of 0.0% to 6.8%.

    For the full year 2024, we continue to expect total revenue to range from $300M - $315M or (24)% to (20)% year over year (excluding $7.2M of Kasamba revenue generated in Q1 2023). In addition, we expect B2B Core recurring revenue to represent 92% of total revenue. For the full year 2024, we expect adjusted EBITDA to range from $15M to $26M, or a margin of 5.0% to 8.3%.

    For the tables below, year-over-year growth rates are on a like-for-like basis (excluding Kasamba contribution from 2023).

    Third Quarter 2024





    Guidance

    Revenue (in millions)

    $69 - $73

    Revenue growth (year-over-year)

    (32)% - (28)%

    Adjusted EBITDA (in millions)

    $0 - $5

    Adjusted EBITDA margin (%)

    0.0% - 6.8%

     

    Full Year 2024



    Guidance

    Revenue (in millions)

    $300 - $315

    Revenue growth (year-over-year)

    (24)% - (20)%

    Adjusted EBITDA (in millions)

    $15 - $26

    Adjusted EBITDA margin (%)

    5.0% - 8.3%

    Disaggregated Revenue

    Included in the accompanying financial results are revenues disaggregated by revenue source, as follows:



    Three Months Ended June 30,



    Six Months Ended June 30,



    2024



    2023



    2024



    2023



















    (In thousands)

    Revenue:















    Hosted services (1)

    $           67,316



    $           81,286



    $         138,811



    $       168,624

    Professional services

    12,559



    16,236



    26,213



    36,559

    Total revenue

    $           79,875



    $           97,522



    $         165,024



    $      205,183

















    (1)

    On March 20, 2023, the Company completed the sale of Kasamba and therefore ceased recognizing revenue related to Kasamba effective on the transaction close date. Further, this sale eliminated the entire Consumer segment, as a result of which revenue is presented within a single consolidated segment. Hosted services includes $7.2 million of revenue related to Kasamba for the six months ended June 30, 2023.

    Stock-Based Compensation

    Included in the accompanying financial results are expenses related to stock-based compensation, as follows:



    Three Months Ended June 30,



    Six Months Ended June 30,



    2024



    2023



    2024



    2023



















    (In thousands)

    Cost of revenue

    $                288



    $           (1,232)



    $                631



    $                803

    Sales and marketing

    1,854



    2,299



    4,309



    4,703

    General and administrative

    2,318



    (13,882)



    4,116



    (11,250)

    Product development

    1,440



    (5,333)



    4,402



    (1,072)

      Total

    $             5,900



    $         (18,148)



    $          13,458



    $           (6,816)

    Amortization of Purchased Intangibles and Finance Leases 

    Included in the accompanying financial results are expenses related to the amortization of purchased intangibles and finance leases, as follows:



    Three Months Ended June 30,



    Six Months Ended June 30,



    2024



    2023



    2024



    2023



















    (In thousands)

    Cost of revenue

    $              3,008



    $              4,578



    $            6,334



    $              9,139

    Amortization of purchased intangibles

    674



    876



    1,565



    1,750

      Total

    $              3,682



    $              5,454



    $            7,899



    $           10,889

    Supplemental Second Quarter 2024 Presentation

    LivePerson will post a presentation providing supplemental information for the second quarter 2024 on the investor relations section of the Company's web site at www.ir.liveperson.com.

    Earnings Teleconference Information

    The Company will discuss its second quarter of 2024 financial results during a teleconference today, July 31, 2024, at 5:00 PM ET. To participate via telephone, callers should dial in five to ten minutes prior to the 5:00 p.m. Eastern start time; domestic callers (U.S. and Canada) should dial 1-877-407-0784, while international callers should dial 1-201-689-8560, and both should reference the conference ID "13747340."

    The conference call will also be simulcast live on the Internet and can be accessed by logging onto the investor relations section of the Company's web site at www.ir.liveperson.com.

    If you are unable to participate in the live call, the teleconference will be available for replay approximately two hours after the call until August 14, 2024. To access the replay, please call 1-844-512-2921 (U.S. and Canada) or 1-412-317-6671 (international). Please reference the conference ID "13747340." A replay will also be available on the investor relations section of the Company's web site at www.ir.liveperson.com.

    About LivePerson, Inc.

    LivePerson (NASDAQ:LPSN) is the enterprise leader in digital customer conversations. The world's leading brands — including HSBC, Chipotle, and Virgin Media — use our award-winning Conversational Cloud platform to connect with millions of consumers. We power nearly a billion conversational interactions every month, providing a uniquely rich data set and AI-powered solutions to accelerate contact center transformation, supercharge agent productivity, and deliver more personalized customer experiences. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our AI, please visit liveperson.com.

    Non-GAAP Financial Measures

    Investors are cautioned that the following financial measures used in this press release and on our earnings call are "non-GAAP financial measures": (i) adjusted EBITDA, or net income (loss) before provision for (benefit from) income taxes, interest expense (income), net, other income, net, gain on debt extinguishment, depreciation, amortization of purchased intangibles and finance leases, stock-based compensation expense, contingent earn-out adjustments, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, working capital adjustment related to the Kasamba divestiture, IT transformation costs, loss (gain) on divestiture, acquisition and divestiture costs and other litigation, consulting and other employee costs; (ii) adjusted EBITDA margin, or net income (loss) before provision for (benefit from) income taxes, interest expense (income), net, other income, net, gain on debt extinguishment, depreciation, amortization of purchased intangibles and finance leases, stock-based compensation expense, contingent earn-out adjustments, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, working capital adjustment related to the Kasamba divestiture, IT transformation costs, loss (gain) on divestiture, acquisition and divestiture costs and other litigation, consulting and other employee costs divided by revenue; (iii) adjusted operating income (loss), or income (loss) before provision for (benefit from) income taxes excluding interest expense (income), net, gain on debt extinguishment, other income, net, amortization of purchased intangibles and finance leases, stock-based compensation expense, contingent earn-out adjustments, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, IT transformation costs, working capital adjustment related to the Kasamba divestiture, loss (gain) on divestiture, acquisition and divestiture costs, and other litigation, consulting and other employee costs and (iv) free cash flow, or net cash used in operating activities less purchases of property and equipment, including capitalized software.

    Non-GAAP financial information should not be construed as an alternative to any other measures of performance determined in accordance with GAAP, or as an indicator of our operating performance, liquidity or cash flows generated by operating, investing and financing activities as there may be significant factors or trends that it fails to address. We present non-GAAP financial information because we believe that it is helpful to some investors as one measure of our operations.

    Forward-Looking Statements

    Statements in this press release and on our earnings call regarding LivePerson that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements, including but not limited to financial guidance, changes to our capital structure, our ability to execute on our transformation strategy, the effects of our cost-reduction efforts and the impact of our new hires, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. With respect to our financial guidance, we note that it is routine for our internal projections and expectations to change as the quarter and year progress, and therefore it should be clearly understood that the internal projections and beliefs upon which we base our expectations may change. Although these expectations may change, we are under no obligation to inform you if they do. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: strain on our personnel resources and infrastructure from supporting our customer base; our ability to retain existing customers and cause them to purchase additional services and to attract new customers; our ability to retain key personnel, attract new personnel and to manage staff attrition; our ability to successfully integrate acquisitions; our ability to refinance our substantial indebtedness before it becomes due or to secure necessary additional financing on commercially reasonable terms, or at all; lengthy sales cycles; delays in our implementation cycles; payment-related risks; potential fluctuations in our quarterly revenue and operating results; limitations on the effectiveness of our controls; non-payment or late payment of amounts due to us from a significant number of customers; volatility in the capital markets; recognition of revenue from subscriptions; customer retention and engagement; our ability to develop and maintain successful relationships with partners, service partners, social media and other third-party consumer messaging platforms and endpoints; our ability to effectively operate on mobile devices; the highly competitive markets in which we operate; general economic conditions; failures or security breaches in our services, those of our third party service providers, or in the websites of our customers; regulation or possible misappropriation of personal information belonging to our customers' Internet users; US and international laws and regulations regarding privacy data protection and AI and increased public scrutiny of privacy, security and AI issues that could result in increased government regulation and other legal obligations; ongoing litigation and legal matters; new regulatory or other legal requirements that could materially impact our business; governmental export controls and economic sanctions; industry-specific regulation and unfavorable industry-specific laws, regulations or interpretive positions; future regulation of the Internet or mobile devices; technology-related defects that could disrupt the LivePerson services; our ability to protect our intellectual property rights or potential infringement of the intellectual property rights of third parties; the use of AI in our product offerings or by our vendors; the presence of, and difficulty in correcting, errors, failures or "bugs" in our products; our ability to license necessary third party software for use in our products and services, and our ability to successfully integrate third party software; potential adverse impact due to foreign currency and cryptocurrency exchange rate fluctuations; additional regulatory requirements, tax liabilities, currency exchange rate fluctuations and other risks if and as we expand; risks related to our operations in Israel; potential failure to meeting service level commitments to certain customers; legal liability and/or negative publicity for the services provided to consumers via our technology platforms; technological or other defects that could disrupt or negatively impact our services; our ability to maintain our reputation; changes in accounting principles generally accepted in the United States; natural catastrophic events and interruption to our business by man-made problems; potential limitations on our ability to use net operating losses to offset future taxable income; and risks related to our common stock being traded on more than one securities exchange; and other factors described in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 4, 2024 (as amended on April 29, 2024). This list is intended to identify only certain of the principal factors that could cause actual results to differ from those discussed in the forward-looking statements. Readers are referred to the Company's reports and documents filed from time to time by us with the Securities and Exchange Commission for a discussion of these and other important factors that could cause actual results to differ from those discussed in forward-looking statements.

     

    LivePerson, Inc.

    Condensed Consolidated Statements of Operations

    (In Thousands, Except Share and Per Share Data)

    Unaudited





    Three Months Ended



    Six Months Ended



    June 30,



    June 30,



















    2024



    2023



    2024



    2023

    Revenue

    $           79,875



    $           97,522



    $         165,024



    $         205,183

















    Costs, expenses and other:















    Cost of revenue

    21,212



    30,888



    50,675



    73,984

    Sales and marketing

    26,473



    26,724



    56,603



    61,194

    General and administrative

    24,448



    8,170



    46,200



    39,617

    Product development

    24,843



    22,839



    54,963



    59,358

    Impairment of goodwill

    —



    —



    3,627



    —

    Impairment of intangibles and other assets

    8,347



    —



    10,568



    —

    Restructuring costs

    3,119



    2,387



    6,428



    13,902

    Loss (gain) on divestiture

    558



    —



    558



    (17,591)

    Amortization of purchased intangible assets

    674



    876



    1,565



    1,750

    Total costs, expenses and other

    109,674



    91,884



    231,187



    232,214

















    (Loss) income from operations

    (29,799)



    5,638



    (66,163)



    (27,031)

















    Other income, net:















    Interest (expense) income, net

    (837)



    136



    495



    1,937

    Gain on debt extinguishment

    73,083



    1,151



    73,083



    7,200

    Other income, net

    606



    3,742



    369



    12,355

    Total other income, net

    72,852



    5,029



    73,947



    21,492

















    Income (loss) before provision for (benefit

    from) income taxes

    43,053



    10,667



    7,784



    (5,539)

















    Provision for (benefit from) income taxes

    1,258



    (155)



    1,620



    1,059

















    Net income (loss)

    $           41,795



    $           10,822



    $              6,164



    $            (6,598)

















    Net income (loss) per share of common stock:















    Basic

    $                0.47



    $                0.14



    $                0.07



    $              (0.09)

    Diluted

    $              (0.33)



    $                0.12



    $              (0.70)



    $              (0.09)

















    Weighted-average shares used to compute net

    income (loss) per share:















    Basic

    88,708,514



    76,902,416



    88,396,816



    76,341,729

    Diluted

    94,978,234



    91,500,059



    94,973,001



    76,341,729

     

    LivePerson, Inc.

    Condensed Consolidated Statements of Cash Flows

    (In Thousands)

    Unaudited





    Six Months Ended



    June 30,



    2024



    2023

    OPERATING ACTIVITIES:







    Net income (loss)

    $            6,164



    $          (6,598)

    Adjustments to reconcile net income (loss) to net cash used in operating activities:







    Stock-based compensation expense

    13,458



    (6,816)

    Depreciation

    15,939



    17,088

    Reduction of operating lease right-of-use assets

    3,886



    1,211

    Amortization of purchased intangible assets and finance leases

    7,899



    10,889

    Amortization of debt issuance costs and debt discount

    1,343



    2,727

    Impairment of goodwill

    3,627



    —

    Impairment of intangibles and other assets

    10,568



    —

    Change in fair value of contingent consideration

    —



    (5,304)

    Gain on debt extinguishment

    (73,083)



    (7,200)

    Allowance for credit losses

    8,928



    1,809

    Loss (Gain) on divestiture

    558



    (17,591)

    Deferred income taxes

    199



    722

    Equity loss in joint venture

    —



    1,384

    Changes in operating assets and liabilities, net of acquisitions:







    Accounts receivable

    16,247



    (20,537)

    Prepaid expenses and other current assets

    8,673



    (9,126)

    Contract acquisition costs

    7



    3,534

    Other assets

    47



    75

    Accounts payable

    629



    (19,757)

    Accrued expenses and other current liabilities

    (35,894)



    16,737

    Deferred revenue

    (2,269)



    15,652

    Operating lease liabilities

    (4,542)



    (1,648)

    Other liabilities

    784



    (7,800)

    Net cash used in operating activities

    (16,832)



    (30,549)

    INVESTING ACTIVITIES:







    Purchases of property and equipment, including capitalized software

    (16,457)



    (16,997)

    Purchases of intangible assets

    (1,259)



    (2,457)

    Proceeds from divestiture

    —



    13,819

    Net cash used in investing activities

    (17,716)



    (5,635)

    FINANCING ACTIVITIES:







    Principal payments for financing leases

    (353)



    (1,926)

    Proceeds from issuance of common stock in connection with the exercise of options

    and ESPP

    180



    1,256

    Proceeds from issuance of senior notes

    50,000



    —

    Payment of debt issuance costs

    (4,231)



    —

    Payments on repurchase of 2024 convertible senior notes

    (72,492)



    (149,702)

    Payments on repurchase of 2026 convertible senior notes

    (4,901)



    —

    Net cash used in financing activities

    (31,797)



    (150,372)

    Effect of foreign exchange rate changes on cash and cash equivalents

    (623)



    789

    Net decrease in cash, cash equivalents, and restricted cash

    (66,968)



    (185,767)

    Cash, cash equivalents, and restricted cash - beginning of year

    212,925



    392,198

    Plus: cash classified within current assets held for sale - beginning of year

    —



    10,011

    Cash, cash equivalents, and restricted cash - end of period

    $       145,957



    $       216,442

     

    LivePerson, Inc.

    Reconciliation of Non-GAAP Financial Information to GAAP

    (In Thousands)

    Unaudited





    Three Months Ended



    Six Months Ended



    June 30,



    June 30,



    2024



    2023



    2024



    2023

    Reconciliation of Adjusted EBITDA:















    GAAP net income (loss)

    $           41,795



    $           10,822



    $              6,164



    $            (6,598)

    Add/(less):















    Other litigation, consulting and other

    employee costs (1)

    5,925



    7,079



    9,694



    18,201

    Depreciation

    7,714



    9,726



    15,939



    17,088

    Amortization of purchased intangibles and

    finance leases

    3,682



    5,454



    7,899



    10,889

    Restructuring costs (2)

    3,119



    2,387



    6,428



    13,902

    Impairment of goodwill

    —



    —



    3,627



    —

    Impairment of intangibles and other assets

    8,347



    —



    10,568



    —

    Leadership transition costs

    1,682



    —



    3,071



    —

    Working capital adjustment - Kasamba

    divestiture

    —



    —



    1,776



    —

    Contingent earn-out adjustments

    —



    (2,691)



    —



    (982)

    Acquisition and divestiture costs

    878



    706



    920



    2,909

    Stock-based compensation expense 

    5,900



    (18,148)



    13,458



    (6,816)

    Provision for (benefit from) income taxes

    1,258



    (155)



    1,620



    1,059

    IT transformation costs (3)

    202



    —



    910



    —

    Interest expense (income), net

    837



    (136)



    (495)



    (1,937)

    Loss (gain) on divestiture

    558



    —



    558



    (17,591)

    Gain on debt extinguishment

    (73,083)



    (1,151)



    (73,083)



    (7,200)

    Other income, net (4)

    (606)



    (3,742)



    (369)



    (12,355)

    Adjusted EBITDA

    $              8,208



    $           10,151



    $              8,685



    $           10,569

















    Reconciliation of Adjusted Operating

    Income (Loss):















    Income (loss) before provision for (benefit

    from) income taxes

    $           43,053



    $           10,667



    $              7,784



    $            (5,539)

    Add/(less):















    Other litigation, consulting and other

    employee costs (1)

    5,925



    7,079



    9,694



    18,201

    Amortization of purchased intangibles and

    finance leases

    3,682



    5,454



    7,899



    10,889

    Restructuring costs (2)

    3,119



    2,387



    6,428



    13,902

    Impairment of goodwill

    —



    —



    3,627



    —

    Impairment of intangibles and other assets

    8,347



    —



    10,568



    —

    Leadership transition costs

    1,682



    —



    3,071



    —

    Working capital adjustment - Kasamba

    divestiture

    —



    —



    1,776



    —

    Contingent earn-out adjustments

    —



    (2,691)



    —



    (982)

    Acquisition and divestiture costs

    878



    706



    920



    2,909

    Stock-based compensation expense

    5,900



    (18,148)



    13,458



    (6,816)

    IT transformation costs (3)

    202



    —



    910



    —

    Interest expense (income), net

    837



    (136)



    (495)



    (1,937)

    Loss (gain) on divestiture

    558



    —



    558



    (17,591)

    Gain on debt extinguishment 

    (73,083)



    (1,151)



    (73,083)



    (7,200)

    Other income, net (4)

    (606)



    (3,742)



    (369)



    (12,355)

    Adjusted operating income (loss)

    $                 494



    $                 425



    $            (7,254)



    $            (6,519)

    ——————————————

    (1)

    Includes litigation costs of $5.5 million, consulting costs of $0.3 million, and $0.1 million accrued expenses and fees for the three months ended June 30, 2024. Includes litigation costs of $8.5 million, consulting costs of $1.0 million, and $0.2 million accrued expenses and fees for the six months ended June 30, 2024. Includes litigation costs of $5.8 million, accrued expenses and fees of $0.6 million, sales tax liability of $0.5 million, and consulting costs of $0.2 million for the three months ended June 30, 2023. Includes litigation costs of $15.3 million, accrued expenses and fees of $2.0 million, sales tax liability of $0.5 million, and consulting costs of $0.4 million for the six months ended June 30, 2023.

    (2)

    Includes reversal of IT contract termination costs of $1.3 million and severance and other compensation related costs of $4.4 million for the three months ended June 30, 2024. Includes reversal of IT contract termination costs of $0.6 million and severance and other compensation related costs of $7.0 million for the six months ended June 30, 2024. Includes severance and other compensation related costs of $2.4 million and $13.9 million for the three months and six months ended June 30, 2023.

    (3)

    Includes $0.2 million and $0.9 million IT infrastructure realignment costs related to consolidating and migrating data centers to the cloud for the three and six months ended June 30, 2024, respectively.

    (4)

    Includes losses from our Equity Method Investment for the three months ended June 30, 2023. Includes $10.0 million of other income related to a litigation settlement and losses from our Equity Method Investment for the six months ended June 30, 2023.

     



    Three Months Ended



    Six Months Ended



    June 30,



    June 30,



    2024



    2023



    2024



    2023

    Calculation of Free Cash Flow:















    Net cash used in operating activities

    $          (17,931)



    $          (24,631)



    $          (16,832)



    $          (30,549)

    Purchases of property and equipment,

    including capitalized software

    (4,956)



    (7,372)



    (16,457)



    (16,997)

    Total free cash flow

    $          (22,887)



    $          (32,003)



    $          (33,289)



    $          (47,546)

     

    LivePerson, Inc.

    Condensed Consolidated Balance Sheets 

    (In Thousands)

    Unaudited





    June 30,

    2024



    December 31,

    2023

    ASSETS







    CURRENT ASSETS:







    Cash and cash equivalents

    $         145,957



    $         210,782

    Restricted cash

    —



    2,143

    Accounts receivable, net of allowance for credit losses

    56,351



    81,802

    Prepaid expenses and other current assets

    18,132



    26,981

    Total current assets

    220,440



    321,708

    Operating lease right-of-use assets

    260



    4,135

    Property and equipment, net

    106,948



    119,325

    Contract acquisition costs, net

    36,864



    37,354

    Intangible assets, net

    52,956



    61,625

    Goodwill

    280,726



    285,631

    Deferred tax assets

    4,441



    4,527

    Other assets

    1,133



    1,208

    Total assets

    $         703,768



    $         835,513









    LIABILITIES AND STOCKHOLDERS' EQUITY







    CURRENT LIABILITIES:







    Accounts payable

    $           13,878



    $           13,555

    Accrued expenses and other current liabilities

    68,237



    97,024

    Deferred revenue

    79,356



    81,858

    Convertible senior notes

    —



    72,393

    Operating lease liabilities

    268



    2,719

    Total current liabilities

    161,739



    267,549

    Convertible senior notes, net of current portion

    468,666



    511,565

    Operating lease liabilities, net of current portion

    —



    2,173

    Deferred tax liabilities

    3,075



    2,930

    Other liabilities

    3,682



    3,158

    Total liabilities

    637,162



    787,375

    Total stockholders' equity

    66,606



    48,138

    Total liabilities and stockholders' equity

    $         703,768



    $         835,513

    Investor Relations contact

    [email protected]

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/liveperson-announces-second-quarter-2024-financial-results-302211540.html

    SOURCE LivePerson

    Get the next $LPSN alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $LPSN

    DatePrice TargetRatingAnalyst
    11/8/2024$1.00Buy → Hold
    Craig Hallum
    2/29/2024$6.00 → $2.00Buy → Neutral
    ROTH MKM
    8/9/2023$7.00Hold → Buy
    Craig Hallum
    8/9/2023$6.00Neutral → Buy
    ROTH MKM
    7/12/2023$3.00 → $6.00Sell → Hold
    Loop Capital
    5/8/2023$4.00 → $3.00Hold → Sell
    Loop Capital
    3/17/2023$8.00 → $5.00Underperform → Neutral
    Credit Suisse
    3/16/2023$15.00 → $6.00Buy → Hold
    Craig Hallum
    More analyst ratings

    $LPSN
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • LivePerson downgraded by Craig Hallum with a new price target

      Craig Hallum downgraded LivePerson from Buy to Hold and set a new price target of $1.00

      11/8/24 8:18:21 AM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • LivePerson downgraded by ROTH MKM with a new price target

      ROTH MKM downgraded LivePerson from Buy to Neutral and set a new price target of $2.00 from $6.00 previously

      2/29/24 6:30:26 AM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • LivePerson upgraded by Craig Hallum with a new price target

      Craig Hallum upgraded LivePerson from Hold to Buy and set a new price target of $7.00

      8/9/23 9:06:56 AM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology

    $LPSN
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Tony Zingale Joins LivePerson Board of Directors

      NEW YORK, July 17, 2025 /PRNewswire/ -- LivePerson (NASDAQ:LPSN), a leading provider of trusted enterprise conversational AI and outcome-driven digital transformation, today announced the appointment of Tony Zingale to its Board of Directors, effective immediately. Mr. Zingale brings to LivePerson's Board decades of experience in leading and scaling high-growth enterprise software companies, with deep expertise in go-to-market strategies, product innovation, and operational excellence. "We are thrilled to welcome Tony Zingale to our Board of Directors," said John Sabino, CEO o

      7/17/25 9:00:00 AM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • LivePerson Announces First Quarter 2025 Financial Results

      -- Total Revenue of $64.7 million, above the midpoint of our guidance range -- -- Adjusted EBITDA above the high-end of our guidance range  -- NEW YORK, May 7, 2025 /PRNewswire/ -- LivePerson, Inc. (NASDAQ:LPSN) ("LivePerson" the "Company", "we" or "us"), a leading provider of trusted enterprise conversational AI and outcome-driven digital transformation, today announced financial results for the first quarter ended March 31, 2025. Fourth Quarter Highlights Total revenue was $64.7 million for the first quarter of 2025, a decrease of 24.0% as compared to the same period last ye

      5/7/25 4:32:00 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • LivePerson to Announce First Quarter 2025 Financial Results on May 7, 2025

      NEW YORK, April 23, 2025 /PRNewswire/ -- LivePerson, Inc. (NASDAQ:LPSN), a leading provider of trusted enterprise conversational AI and outcome-driven digital transformation, today announced the planned release of its first quarter financial results after the market close on Wednesday, May 7, 2025. CEO John Sabino and CFO & COO John Collins will host a conference call later that day, at 5:00 p.m. Eastern Time. The conference call will be simulcast live and can be accessed by logging onto the investor relations section of the Company's web site at Investor Relations | LivePerso

      4/23/25 5:15:00 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology

    $LPSN
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Pegueros Vanessa bought $5,100 worth of shares (5,000 units at $1.02), increasing direct ownership by 6% to 89,993 units (SEC Form 4)

      4 - LIVEPERSON INC (0001102993) (Issuer)

      3/18/24 7:38:08 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • Wesemann William bought $100,000 worth of shares (100,000 units at $1.00), increasing direct ownership by 36% to 374,835 units (SEC Form 4)

      4 - LIVEPERSON INC (0001102993) (Issuer)

      3/13/24 7:39:56 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • Vector Capital Management, L.P. bought $6,294,268 worth of shares (1,805,569 units at $3.49) (SEC Form 4)

      4 - LIVEPERSON INC (0001102993) (Issuer)

      1/10/24 6:56:53 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology

    $LPSN
    Financials

    Live finance-specific insights

    See more
    • LivePerson Announces First Quarter 2025 Financial Results

      -- Total Revenue of $64.7 million, above the midpoint of our guidance range -- -- Adjusted EBITDA above the high-end of our guidance range  -- NEW YORK, May 7, 2025 /PRNewswire/ -- LivePerson, Inc. (NASDAQ:LPSN) ("LivePerson" the "Company", "we" or "us"), a leading provider of trusted enterprise conversational AI and outcome-driven digital transformation, today announced financial results for the first quarter ended March 31, 2025. Fourth Quarter Highlights Total revenue was $64.7 million for the first quarter of 2025, a decrease of 24.0% as compared to the same period last ye

      5/7/25 4:32:00 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • LivePerson to Announce First Quarter 2025 Financial Results on May 7, 2025

      NEW YORK, April 23, 2025 /PRNewswire/ -- LivePerson, Inc. (NASDAQ:LPSN), a leading provider of trusted enterprise conversational AI and outcome-driven digital transformation, today announced the planned release of its first quarter financial results after the market close on Wednesday, May 7, 2025. CEO John Sabino and CFO & COO John Collins will host a conference call later that day, at 5:00 p.m. Eastern Time. The conference call will be simulcast live and can be accessed by logging onto the investor relations section of the Company's web site at Investor Relations | LivePerso

      4/23/25 5:15:00 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • LivePerson Announces Fourth Quarter 2024 Financial Results

      -- Total Revenue of $73.2M, above the high-end of our guidance range -- -- Adjusted EBITDA above the high-end of our guidance range – NEW YORK, March 5, 2025 /PRNewswire/ -- LivePerson, Inc. (NASDAQ:LPSN) ("LivePerson", the "Company", "we" or "us"), a leading provider of trusted enterprise conversational AI and outcome-driven digital transformation, today announced financial results for the fourth quarter ended December 31, 2024. Fourth Quarter Highlights Total revenue was $73.2 million for the fourth quarter of 2024, a decrease of 23.3% as compared to the same period last yea

      3/5/25 4:14:00 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology

    $LPSN
    SEC Filings

    See more
    • LivePerson Inc. filed SEC Form 8-K: Leadership Update, Other Events, Financial Statements and Exhibits

      8-K - LIVEPERSON INC (0001102993) (Filer)

      7/17/25 5:25:44 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • LivePerson Inc. filed SEC Form 8-K: Leadership Update, Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits

      8-K - LIVEPERSON INC (0001102993) (Filer)

      7/1/25 4:22:21 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • SEC Form DEF 14A filed by LivePerson Inc.

      DEF 14A - LIVEPERSON INC (0001102993) (Filer)

      5/22/25 5:23:36 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology

    $LPSN
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SEC Form 3 filed by new insider Zingale Anthony

      3 - LIVEPERSON INC (0001102993) (Issuer)

      7/18/25 7:31:34 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • New insider Mina Christopher Allen claimed ownership of 501,832 shares (SEC Form 3)

      3 - LIVEPERSON INC (0001102993) (Issuer)

      7/7/25 8:57:54 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • Chief Executive Officer Sabino Anthony John sold $50,862 worth of shares (68,088 units at $0.75), decreasing direct ownership by 2% to 2,852,296 units (SEC Form 4)

      4 - LIVEPERSON INC (0001102993) (Issuer)

      6/18/25 4:36:39 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology

    $LPSN
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by LivePerson Inc.

      SC 13G/A - LIVEPERSON INC (0001102993) (Subject)

      11/14/24 5:21:06 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • Amendment: SEC Form SC 13G/A filed by LivePerson Inc.

      SC 13G/A - LIVEPERSON INC (0001102993) (Subject)

      11/14/24 10:52:06 AM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • Amendment: SEC Form SC 13G/A filed by LivePerson Inc.

      SC 13G/A - LIVEPERSON INC (0001102993) (Subject)

      11/12/24 4:00:52 PM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology

    $LPSN
    Leadership Updates

    Live Leadership Updates

    See more
    • Tony Zingale Joins LivePerson Board of Directors

      NEW YORK, July 17, 2025 /PRNewswire/ -- LivePerson (NASDAQ:LPSN), a leading provider of trusted enterprise conversational AI and outcome-driven digital transformation, today announced the appointment of Tony Zingale to its Board of Directors, effective immediately. Mr. Zingale brings to LivePerson's Board decades of experience in leading and scaling high-growth enterprise software companies, with deep expertise in go-to-market strategies, product innovation, and operational excellence. "We are thrilled to welcome Tony Zingale to our Board of Directors," said John Sabino, CEO o

      7/17/25 9:00:00 AM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • LivePerson Appoints Christopher Mina as Chief Technology & Product Officer to Transform Customer Engagement at Scale

      Industry expert joins the company to help businesses create personalized, AI-driven customer experiences that transform how they connect and engage consumers across all communication channels NEW YORK, Dec. 17, 2024 /PRNewswire/ -- LivePerson (NASDAQ:LPSN), a leading provider of trusted enterprise conversational AI and outcome-driven digital transformation, today announced that Christopher Mina will be joining the company as Chief Technology & Product Officer. In this role, Mina will set LivePerson's product vision and oversee the company's engineering and product operations to enhance customer experience and accelerate innovation.

      12/17/24 9:00:00 AM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology
    • LivePerson Announces the Appointment of Two New Board Members

      NEW YORK, Dec. 16, 2024 /PRNewswire/ -- LivePerson, Inc. (NASDAQ:LPSN) (the "Company"), a leading provider of trusted enterprise conversational AI and outcome-driven digital transformation, is pleased to announce the appointment of two new board members, Dan Fletcher and Karin-Joyce (KJ) Tjon. "We are excited to welcome Dan and K.J. to the LivePerson Board of Directors," said Bruce Hansen, Chair of the Board. "Both bring an exceptional level of expertise in business turnarounds, with a particular focus on financial, strategic and operational execution. These appointments add c

      12/16/24 9:00:00 AM ET
      $LPSN
      Computer Software: Prepackaged Software
      Technology