Business
LivePerson Announces First Quarter 2022 Financial Results
-- Exceeds high end of guidance on revenue, adjusted EBITDA, and gross profit margin in the first quarter -- -- Raises full-year guidance for adjusted EBITDA
About this update from Liveperson, Inc.
[{"type":"text","content":"-- Exceeds high end of guidance on revenue, adjusted EBITDA, and gross profit margin in the first quarter --\n-- Raises full-year guidance for adjusted EBITDA and gross profit margin --\n-- Expects positive cash flow in the fourth quarter --\nNEW YORK, May 9, 2022 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) (\"LivePerson\" or the \"Company\"), a global leader in conversational AI, today announced financial results for the first quarter ended March 31, 2022.\n\n \n \n \n \n \n \n\n \nFirst Quarter HighlightsTotal revenue was $130.2 million for the first quarter of 2022, an increase of 21% as compared to the same period last year. Within total revenue, business operations revenue for the first quarter of 2022 increased 22% year over year to $121.1 million, and revenue from consumer operations increased 1% year over year to $9.1 million.\nLivePerson signed five seven-figure deals and 102 deals in total in the first quarter, comprising 26 new and 76 existing customer contracts. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 32% in the first quarter to another record high of $645,000, up from approximately $490,000 in the comparable prior-year period.\n\"LivePerson had a very strong quarter, beating both top and bottom line guidance. We continued to see robust platform usage, with Conversational Cloud volume growing 34% year-over-year for AI based messaging conversations and 27% year-over-year for total messaging conversations. These achievements illustrate strength across the business and are clear proof points of execution on our key strategic priorities, including our profitable growth plan, which we announced at the beginning of the year,\" said founder and CEO Robert LoCascio. \"These results are a credit to our people, and I am very proud of the talent, commitment and great work of our global team. We are confident that our laser focus on key priorities will help us maintain our industry-leading position and strategically deploy capital to generate stockholder value.\"\n\"Our first quarter results demonstrate progress on our strategy to accelerate profitable growth. Revenue and adjusted EBITDA both exceeded the top end of our guidance, as we began to optimize our cost structure and go-to-market strategy, including realizing post-acquisition cost and revenue synergies. With such stron...