Business
LivePerson Announces Third Quarter 2022 Financial Results
-- Revenue of $129.6 million, up 9.5% year over year -- -- Adjusted EBITDA above the top end of guidance -- -- Raising Full Year Revenue Guidance to $517
About this update from Liveperson, Inc.
[{"type":"text","content":"-- Revenue of $129.6 million, up 9.5% year over year --\n-- Adjusted EBITDA above the top end of guidance --\n-- Raising Full Year Revenue Guidance to $517 million - $521 million --\nNEW YORK, Nov. 7, 2022 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) (\"LivePerson\" or the \"Company\"), a global leader in conversational AI, today announced financial results for the third quarter ended September 30, 2022.\n\n \n \n \n \n \n \n\n \nThird Quarter Highlights\nTotal revenue was $129.6 million for the third quarter of 2022, an increase of 9.5% as compared to the same period last year. Within total revenue, business operations revenue for the third quarter of 2022 increased 10% from the comparable prior-year period to $120.1 million, and revenue from consumer operations increased 4% from the comparable prior-year period to $9.5 million.\nLivePerson signed 7 seven-figure deals and 86 deals in total for the third quarter, consisting of 29 new and 57 existing customer contracts. While the aggregate number of new logo deals is down year over year, the number of Enterprise new logos is up 14% year over year and the aggregate dollar bookings on new logos is up 20% year over year. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 18% for the third quarter to $675,000, up from approximately $570,000 for the comparable prior-year period.\n\"Throughout fiscal year 2022, LivePerson has been focused on three key actions to optimize profitable revenue growth: growing new logos, expanding existing accounts, and advancing strategic partnerships by opening our AI to other platforms and strengthening it to drive enhanced value to customers\" said founder and CEO Robert LoCascio. \"This is evidenced by the execution we delivered in Q3 with upsells and renewals. We are seeing good traction with brands moving us into the mission-critical, Tier 1 group of providers, which we continue to see play out as some of our largest brands re-up with us and commit to longer terms and larger volumes.\"\n\"Consistent with the profitable growth plan we've been executing on throughout the year, we continued to optimize our cost structure in the third quarter. We're making durable changes to our operating model that we anticipate will position us to generate double-digit adjusted EBITDA margins and positive free cash flow in 2023,\...