Business
LivePerson Announces Third Quarter 2023 Financial Results
-- Total Revenue of $101.3M, at the top end of our guidance range -- -- Adjusted EBITDA above the midpoint of our guidance range -- --Maintaining 2023 Revenue
About this update from Liveperson, Inc.
[{"type":"text","content":"-- Total Revenue of $101.3M, at the top end of our guidance range --\n-- Adjusted EBITDA above the midpoint of our guidance range --\n--Maintaining 2023 Revenue and Adjusted EBITDA guidance midpoints--\nNEW YORK, Nov. 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 third quarter ended September 30, 2023.\n\n \n \n \n \n \n \n\n \nThird Quarter Highlights\nTotal revenue was $101.3 million for the third quarter of 2023, at the top end of our prior guidance and a decrease of 21.8% 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 50 deals in total for the third quarter, consisting of 19 new and 31 existing customer contracts, including 4 seven-figure deals. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 13% for the third quarter to $595,000, up from approximately $525,000 for the comparable prior-year period. Beginning with the second quarter of 2022, in order to provide a more consistent and meaningful measure of ARPC, we started calculating this metric using only B2B Core recurring revenue, which is consistent with the revenue base for calculating Net Revenue Retention.\n\"Since last quarter, we have refocused the company on our core strengths – those that have delivered a meaningful return on investment to our enterprise customers by enabling them to efficiently shift legacy voice interactions to digital channels and AI-powered automation,\" said Interim CEO and CFO John Collins. \"Based on projections available from Gartner and Forrester, the combined markets for conversational AI and customer service and support are estimated to grow approximately 20% year-over-year in 2024. Considering the demonstrable return on investment our customers are realizing, and growing traction we're seeing with generative AI, we believe we are well positioned to meet this growing demand.\"\nCustomer Expansion\nDuring the third quarter, the Company signed 50 total deals for the quarter, including 4 seven-figure deals, 31 expansion & renewals and 19 new logo deals. New logo deals included:\nTwo large California-based credit unions;A leading conversational marketp...