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.
LivePerson (LPSN) has announced equity-based incentive awards under its 2018 Inducement Plan, designed to provide incentives to new hires. In December 2024, the company granted restricted stock units (RSUs) to 19 new employees, totaling 1,554,059 shares. The RSUs have varying vesting schedules: 608,000 units vest equally over two years, 401,472 units vest after six months, and 544,597 units vest after three months. All RSUs are contingent on continued employment through the vesting dates.
LivePerson (LPSN) has appointed Christopher Mina as Chief Technology & Product Officer to enhance customer experience and accelerate innovation. Mina, who previously served as Head of Voice and VP of Product and Engineering at LivePerson, joins from Vonage where he guided product and business strategy for their Global Apps business. In his new role, he will set LivePerson's product vision and oversee engineering and product operations.
During his previous tenure at LivePerson, Mina led voice initiatives and managed several acquisitions including Tenfold, Voicebase, and AI Foundation. His experience includes directing engineering and product at RingCentral, with expertise in digital, CCaaS, and conversational AI communication platforms.
LivePerson (LPSN) has announced the appointment of two new board members, Dan Fletcher and Karin-Joyce (KJ) Tjon, expanding its board to eight directors. Fletcher brings 17 years of experience in SaaS industry transformations and currently serves as CFO of Planful and Operating Principal at Vector Capital Management, LivePerson's largest investor. Tjon contributes over 25 years of executive leadership experience in technology and SaaS industries, with expertise in business transformation and financial restructuring.
Following these appointments, seven of the eight board members are independent, with six having joined in the past two years. The appointments were approved by shareholders at LivePerson's annual meeting.
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.
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