Business
LivePerson Announces First Quarter 2023 Financial Results
-- Q1 Revenue within and Adjusted EBITDA above guidance range – -- Reaffirming Full Year 2023 Revenue and Adjusted EBITDA guidance – --Divested the non-core
About this update from Liveperson, Inc.
[{"type":"text","content":"-- Q1 Revenue within and Adjusted EBITDA above guidance range –\n-- Reaffirming Full Year 2023 Revenue and Adjusted EBITDA guidance –\n--Divested the non-core Consumer business, Kasamba--\n--Repurchased at a Discount Approximately 68% of our Outstanding Convertible Notes due 2024--\nNEW YORK, May 9, 2023 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) (\"LivePerson\" the \"Company\", \"we\" or \"us\"), a global leader in conversational AI, today announced financial results for the first quarter ended March 31, 2023.\n\n \n \n \n \n \n \n\n \nFirst Quarter Highlights\nTotal revenue was $107.7 million for the first quarter of 2023, consistent with our prior guidance and a decrease of 17% as compared to the same period last year as the company continues to execute on its plan to exit lower-margin and non-core lines of business.\nLivePerson signed 70 deals in total for the first quarter, consisting of 20 new and 50 existing customer contracts, including 4 seven-figure deals. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 3% for the first quarter to $665,000, up from approximately $645,000 for the comparable prior-year period.\n\"When we initiated our profitable growth strategy in early 2022, our goal was to right-size our P&L in order to put into place an operating framework from which we can grow revenue profitability on a go-forward basis,\" said founder and CEO Robert LoCascio. \"All of the changes that we implemented over the past 5 quarters have given us that strong operating framework to grow from, with a laser focus on the core business. With the launch of our new generative AI products, we are well-positioned to continue producing the highest quality business outcomes possible for our brands, who trust us as their AI and digital transformation partner. Our company is at an inflection point, and with the changes we have implemented, we are now focused on accelerating profitable growth in the periods ahead.\"\n\"The first quarter of 2023 was a transformative one for LivePerson's financial profile and growth strategy,\" said CFO John Collins. \"We completed one of the largest restructuring plans in the Company's history, enabling us to enter the second quarter with a profitable run rate and a focused go-to-market strategy for accelerating growth within our B2B core. We also divested Kasa...