Business
LivePerson Announces Second Quarter 2023 Financial Results
-- Total Revenue of $97.5M, above the midpoint of our guidance range -- -- Adjusted EBITDA above the top end of our guidance range -- --2023 Total Revenue
About this update from Liveperson, Inc.
[{"type":"text","content":"-- Total Revenue of $97.5M, above the midpoint of our guidance range --\n-- Adjusted EBITDA above the top end of our guidance range --\n--2023 Total Revenue guidance range $388M - $400M (excludes Kasamba contribution in Q1)--\n--2023 Total Adjusted EBITDA guidance range to $19M - $32M--\nNEW YORK, Aug. 8, 2023 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) (\"LivePerson\" the \"Company\", \"we\" or \"us\"), a global leader in conversational AI, today announced financial results for the second quarter ended June 30, 2023.\n\n \n \n \n \n \n \n\n \nSecond Quarter Highlights\nTotal revenue was $97.5 million for the second quarter of 2023, above the midpoint of our prior guidance and a decrease of 26.4% 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 69 deals in total for the second quarter, consisting of 33 new and 36 existing customer contracts, including 3 seven-figure deals. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 14% for the second quarter to $575,000, up from approximately $505,000 for the comparable prior-year period. In order to provide a more consistent and meaningful measure of ARPC, we expect to calculate this metric using only B2B Core recurring revenue going forward, which is consistent with the revenue base for calculating Net Revenue Retention.\n\"Consistent with the expectations we set last quarter, including the completion of the restructuring plan, the divestiture and wind down of non-core business lines, and the renewed focus on the B2B Core, we posted strong financial results in Q2,\" said Interim CEO and CFO John Collins. \"Now that we support voice interactions and leverage generative AI to address a virtually limitless range of intents, our customers can efficiently automate an estimated 75% of their aggregate conversational volume over time. At a high level, that's a potential market opportunity of 3 times today's recurring revenue just from expanding with our existing base of customers.\"\nOn July 24, 2023, Starboard Value and Opportunity Master Fund Ltd withdrew its previously submitted notice of intent to nominate three persons for election to the Company's board of directors at the 2023 Annual Meeting.\nCustomer Expansion\nDuring the second quart...