Business
LivePerson Announces First Quarter 2024 Financial Results
-- Total Revenue of $85.1M, above the high-end of our guidance range -- -- Adjusted EBITDA above the midpoint of our guidance range -- NEW YORK, May 8, 2024
About this update from Liveperson, Inc.
[{"type":"text","content":"-- Total Revenue of $85.1M, above the high-end of our guidance range --\n-- Adjusted EBITDA above the midpoint of our guidance range --\nNEW YORK, May 8, 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 first quarter ended March 31, 2024.\n\n \n \n \n \n \n \n\n \nFirst Quarter Highlights\nTotal revenue was $85.1 million for the first quarter of 2024, a decrease of 20.9%, as compared to the same period last year driven by customer churn and the exit of non-core business lines.\nLivePerson signed 40 deals in total for the first quarter, consisting of 12 new and 28 existing customers. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 11.6% in the first quarter to $625,000, up from approximately $560,000 in 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.\n\"In the first quarter of our new strategy, we delivered on our guidance and meaningfully progressed on our key focused areas of transformation. We significantly improved our go-to-market leadership, operations, and capabilities, enhanced our product's integration and orchestration advantages and progressed in our efforts towards deleveraging our capital structure,\" said CEO John Sabino. \"As I have said before, it will take time to see the financial results of these operational improvements, but our swift execution thus far makes me even more confident in our ability to transform as a company.\"\n\"The first quarter demonstrated our ability to swiftly execute on our strategic and financial priorities,\" said CFO and COO John Collins. \"With a rightsized cost structure, standardized and repeatable go-to-market operations, and an improved capital structure on the horizon, we believe we have established a solid foundation for our return to profitable growth.\"\nCustomer Expansion\nDuring the first quarter, the Company signed 40 total deals for the quarter, including 28 expansion & renewals and 12 new logo deals. New logo deals included:\nA multinational digital entertainment company; andA global distributor of electrical products and services.The Company also expanded/r...