Business
LivePerson Announces First Quarter 2020 Financial Results
-- Meets guidance for 18% year-over-year revenue growth in the first quarter, despite difficult environment -- -- Sees traditional voice centers shift to AI
About this update from Liveperson, Inc.
[{"type":"text","content":"-- Meets guidance for 18% year-over-year revenue growth in the first quarter, despite difficult environment --\n -- Sees traditional voice centers shift to AI and messaging as work from home creates a new normal --\n -- Widens 2020 revenue guidance range to balance heightened activity with macroeconomic risks --\n -- Raises profit guidance and accelerates path to cash generation while investing in core growth drivers --\n -- Earns numerous accolades for industry leadership in Conversational AI --\n\n\nNEW YORK, May 5, 2020 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN), a leading provider of conversational solutions, today announced financial results for the first quarter ended March 31, 2020.\n\n \n \n \n \n \n \n\n \nFirst Quarter Highlights\nTotal revenue was $78.1 million for the first quarter of 2020, an increase of 18% as compared to the same period last year. Within total revenue, business operations revenue for the first quarter of 2020 increased 18% year over year to $71.8 million, and revenue from consumer operations increased 15% year over year to $6.2 million.\nLivePerson signed 130 deals in the first quarter, an increase of 10% year over year, including the addition of 56 new and 74 existing customer contracts. Trailing-twelve-months average revenue per enterprise and mid-market customer increased greater than 20% in the first quarter to a record $365,000, up from approximately $300,000 in the equivalent prior-year period.\n\"The COVID crisis was a wake up call that the legacy call center model is a relic and incapable of supporting a remote from home workforce,\" said LivePerson CEO and founder, Rob LoCascio. \"Whereas the corporate world turned to video conferencing applications to support office workers, LiveEngage is filling the void for the contact center. We are seeing Conversational Commerce adoption trends accelerate with many of our customers, and a new normal is emerging where brands are leading with AI-powered messaging built and managed by work from home agents. Clearly, there are macro-environmental risks to navigate, but our vision is more relevant than ever, and we are well positioned to come through this crisis a stronger company.\"\n\"LivePerson is executing well in a world that has changed rapidly over the past several weeks, and our resilient and agile business model has enabled us to deliver str...