Welcome to our dedicated page for LivePerson news (Ticker: LPSN), a resource for investors and traders seeking the latest updates and insights on LivePerson stock.
LivePerson Inc. (NASDAQ: LPSN) is a leading provider of digital customer conversation solutions, empowering brands worldwide through its award-winning Conversational Cloud platform. Established in 1995 and headquartered in New York City, LivePerson has been publicly traded since 2000. With over 1,200 employees, the company maintains a global presence with offices in key locations including Tokyo, London, Melbourne, Tel Aviv, San Francisco, Atlanta, and Amsterdam.
LivePerson's core business revolves around its innovative platform, LiveEngage, which allows brands to engage with consumers via online and mobile messaging. The platform offers unmatched security and scalability, enabling proactive customer connections that drive enhanced sales and foster brand loyalty. Trusted by prominent brands such as HSBC, Chipotle, and Virgin Media, LivePerson facilitates nearly a billion conversational interactions monthly, leveraging a robust data set and AI-powered tools to transform contact centers and enhance customer experiences.
In recent times, LivePerson has made significant strides in its market. The company’s financial performance for Q4 2023 reported a revenue of $95.5 million, a decrease from the previous year due to strategic exits from lower-margin business lines. Despite this, the company saw a growth in average revenue per customer, highlighting its strong value proposition. The first quarter of 2024 showed continued progress with key operational improvements and strategic deals, including expansions and new logos.
LivePerson's innovative approach has garnered recognition, such as the #1 Most Innovative AI Company by Fast Company and multiple Stevie Awards for its business intelligence solutions. The company also announced a partnership with Infinity to enhance digital experiences through conversational data and intelligence, and with Avaya to integrate voice and digital channels, demonstrating its commitment to continuous innovation and customer-centric advancements.
The company’s Conversational AI capabilities utilize AI to streamline operations, supercharge agent productivity, and deliver personalized customer interactions. LivePerson’s financial strategies are also noteworthy, with recent efforts to restructure debt and raise new capital through strategic partnerships.
For more information, visit liveperson.com.
Project Management Institute (PMI) has transformed its customer support through partnership with LivePerson, achieving significant digital transformation results. The implementation of LivePerson's Conversational Cloud® platform has enabled PMI to shift 88% of phone and email conversations to messaging channels, including web messaging, WhatsApp, and SMS. Key achievements include over 1.5 million customer interactions with their virtual assistant, a 51% improvement in containment rates year-over-year, and 28.5% of support volume fully handled by AI. The platform integrates AI-powered automation, routing, and generative AI tools like Copilot for agent support.
LivePerson (NASDAQ: LPSN) reported Q3 2024 financial results with revenue of $74.2 million, representing a 26.7% decrease year-over-year due to customer cancellations and downsells. The company signed 44 deals, including 35 existing and 9 new customers, with 2 seven-figure deals. Trailing-twelve-months average revenue per customer (ARPC) increased 5.9% to $630,000. Net loss was $28.3 million ($0.32 per share), improving from a $53.3 million loss in Q3 2023. Adjusted EBITDA was $7.3 million, down from $10.6 million year-over-year. Cash balance stood at $142.1 million, down from $210.8 million at end-2023.
LivePerson (Nasdaq: LPSN) has scheduled the release of its third quarter 2024 financial results after market close on Thursday, November 7, 2024. CEO John Sabino and CFO & COO John Collins will host a conference call at 5:00 p.m. Eastern Time on the same day. The call will be available via simulcast on the company's investor relations website. For telephone participation, domestic callers should dial 1-877-407-0784, while international callers should use 1-201-689-8560, referencing conference ID '13748564'. A replay will be available until November 21, 2024.
LivePerson (LPSN) has entered into a cooperation agreement with Vector Capital Management, its largest shareholder owning approximately 12% of outstanding common stock. The company will nominate Dan Fletcher, CFO of Planful, as one of two nominees for election to the Board at the 2024 Annual Meeting. Following the meeting, an additional director will be appointed in cooperation with Vector. This board refreshment aims to enhance shareholder value by bringing new operational expertise and industry experience to support the company's strategic objectives.
LivePerson has been named to Inc.'s 2024 Power Partners list for the third consecutive year, recognizing it as one of the world's top B2B companies in Customer Relationship Management. The award is based on customer ratings, reviews, and Inc.'s rigorous evaluation process. LivePerson (Nasdaq: LPSN) was honored for its proven ability to accelerate contact center transformation, enhance agent productivity, and deliver personalized customer experiences.
The selection process involved quantitative and qualitative feedback from customer brands, online sentiment analysis, and research by Inc. reporters. John Sabino, CEO of LivePerson, emphasized the company's success in translating AI and automation investments into measurable business results. Inc. editor-in-chief Mike Hofman highlighted the importance of customer testimonials and genuine commitment to mutually beneficial partnerships in the selection process.
LivePerson (Nasdaq: LPSN) has announced new AI tools for contact centers, set to debut on October 23 at their Spark event. These innovations include:
1. Agent Workspace for Voice: Integrates existing voice providers into LivePerson's platform, creating a unified command center for customer conversations.
2. Generative AI Copilot: Offers LLM-powered suggestions, rewrites, summaries, and translations to improve agent efficiency and personalization.
3. Enhanced Analytics: Provides real-time performance tracking and ROI measurement for AI-powered and omnichannel conversations.
The virtual Spark event will feature demos, keynotes, and customer panels showcasing how brands like Signet Jewelers, BECU, Frost Bank, and Mr. Cooper Group leverage these tools for connected customer experiences.
LivePerson, Inc. (Nasdaq: LPSN) has issued a confirmatory notice regarding recent equity-based incentive awards granted under its 2018 Inducement Plan. This announcement is in compliance with Nasdaq Listing Rule 5635(c)(4). The company established the Inducement Plan to provide equity-based incentives to new hires during active hiring periods.
In September 2024, LivePerson granted restricted stock units (RSUs) to one employee for 305,603 shares of common stock. This grant replaces a previously reported May 2024 grant of 268,588 shares. The RSUs are set to vest after six months, contingent upon the grantee's continued employment. These awards were granted as inducements for the grantee to join the company.
LivePerson (Nasdaq: LPSN) has been named a Leader in G2's Fall 2024 Grid reports for Customer Self-Service, Conversational Marketing, Chatbots, Bot Platforms, and Live Chat. These recognitions are based on user reviews and ratings on G2, the world's largest software marketplace. Products in the Leader quadrant are rated highest by G2 users and have high market presence scores.
LivePerson also achieved best-in-class rankings in categories such as Best Meets Requirements, Easiest to Use, Easiest Admin, Easiest to Do Business With, and Highest User Adoption. John Sabino, CEO of LivePerson, emphasized the significance of these recognitions as they are based on customer reviews and ratings, reflecting the trust built with leading brands.
LivePerson (Nasdaq: LPSN) has launched the LivePerson Community, a customer-driven platform designed to foster contact center transformation and growth. This new initiative aims to help brands maximize the value of LivePerson's customer conversations platform and transform their contact centers into digital-first hubs for customer experience.
The community offers various resources, including product documentation, use cases, industry benchmarks, and access to LivePerson's Conversational Growth Paths. Key features include self-service support, learning and growth opportunities, and co-innovation tools. The platform is expected to drive measurable business outcomes for LivePerson's customers by optimizing contact center transformations and accelerating ROI with new strategies.
LivePerson (Nasdaq: LPSN) has demonstrated significant ROI from AI initiatives for major brands worldwide. The company's Conversational Cloud® platform and AI solutions have helped enterprises across various sectors achieve measurable results, contrary to the current AI disillusionment trend. Notable success stories include:
- Frost Bank: Achieved 91% CSAT with 24/7 support using AI-powered agent efficiency tools.
- Zurich UK: Reduced insurance claims agreement time to 13 minutes on WhatsApp.
- Open Universities Australia: Tripled lead qualification rates with generative AI agents.
- Mouser Electronics: Attained 92% customer satisfaction score using AI-powered routing in 13 languages.
Other successes include a leading US health insurer's 222% YoY digital growth, SportPesa's 58% AI chatbot containment rate, and Najm's 60% contact center savings. These achievements have earned LivePerson multiple industry recognitions.
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