Liveperson ( (LPSN) ) has released its Q3 earnings. Here is a breakdown of the information Liveperson presented to its investors.
LivePerson, Inc. is a leading enterprise in digital-first customer conversations, providing AI-powered solutions that enhance contact center transformation and customer experiences for top global brands. The company recently reported its third-quarter 2024 financial results, showcasing total revenue of $74.2 million, which exceeded the high-end of their guidance range, despite a 26.7% decline compared to the same period last year due to customer cancellations and downsells.
Key highlights of the report include signing 44 deals, including two seven-figure agreements, and an increase in average revenue per enterprise and mid-market customers by 5.9%. The company launched a unified omnichannel solution, which contributed to a strong pipeline with Fortune 500 companies, and demonstrated significant progress in Generative AI adoption and new pricing models.
LivePerson’s net loss for the quarter was $28.3 million, improving from a loss of $53.3 million in the previous year. Adjusted EBITDA for the quarter decreased to $7.3 million from $10.6 million last year. The company also reported a cash balance of $142.1 million as of September 30, 2024, down from $210.8 million at the end of 2023.
Looking ahead, LivePerson anticipates a continued focus on core products and customers, aiming to generate positive free cash flow amid expected revenue declines. The sequential growth in bookings indicates ongoing demand for their products, and management is optimistic about their strategic positioning in the digital transformation space.
