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LivePerson Announces First Quarter 2024 Financial Results

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LivePerson, Inc. (NASDAQ: LPSN) announced total revenue of $85.1M for Q1 2024, above the high end of their guidance range, and adjusted EBITDA above the midpoint of their guidance range. Despite a 20.9% decrease in revenue due to customer churn and exiting non-core business lines, the company signed 40 deals in total, showing progress in key transformation areas. CEO John Sabino highlighted improvements in go-to-market leadership, operations, product integration, and deleveraging efforts. CFO John Collins emphasized a rightsized cost structure and a solid foundation for profitable growth. The company reported a net loss of $35.6 million for Q1 2024, with adjusted operating loss of $7.7 million. Adjusted EBITDA for Q1 2024 was $0.5 million, a turnaround from a loss in Q1 2023. Cash balance was $127.1 million at the end of Q1 2024, down from $210.8 million at the end of Q4 2023, after repaying the 2024 Notes in full.

Positive
  • LivePerson exceeded the high end of their guidance range for total revenue in Q1 2024.

  • The company signed 40 deals in total for the quarter, showing progress in key transformation areas.

  • CEO John Sabino highlighted improvements in go-to-market leadership, operations, product integration, and deleveraging efforts.

  • CFO John Collins emphasized a rightsized cost structure and a solid foundation for profitable growth.

  • Adjusted EBITDA for Q1 2024 was $0.5 million, a turnaround from a loss in Q1 2023.

Negative
  • Total revenue decreased by 20.9% in Q1 2024 due to customer churn and exiting non-core business lines.

  • The company reported a net loss of $35.6 million for Q1 2024, with adjusted operating loss of $7.7 million.

  • Cash balance decreased to $127.1 million at the end of Q1 2024, down from $210.8 million at the end of Q4 2023.

-- Total Revenue of $85.1M, above the high-end of our guidance range --

-- Adjusted EBITDA above the midpoint of our guidance range --

NEW YORK, May 8, 2024 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) ("LivePerson" the "Company", "we" or "us"), the enterprise leader in digital customer conversations, today announced financial results for the first quarter ended March 31, 2024.

First Quarter Highlights

Total revenue was $85.1 million for the first quarter of 2024, a decrease of 20.9%, as compared to the same period last year driven by customer churn and the exit of non-core business lines.

LivePerson signed 40 deals in total for the first quarter, consisting of 12 new and 28 existing customers. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 11.6% in the first quarter to $625,000, up from approximately $560,000 in the comparable prior-year period. ARPC is calculated using only B2B Core recurring revenue, which is consistent with the revenue base for calculating Net Revenue Retention.

"In the first quarter of our new strategy, we delivered on our guidance and meaningfully progressed on our key focused areas of transformation. We significantly improved our go-to-market leadership, operations, and capabilities, enhanced our product's integration and orchestration advantages and progressed in our efforts towards deleveraging our capital structure," said CEO John Sabino. "As I have said before, it will take time to see the financial results of these operational improvements, but our swift execution thus far makes me even more confident in our ability to transform as a company."

"The first quarter demonstrated our ability to swiftly execute on our strategic and financial priorities," said CFO and COO John Collins. "With a rightsized cost structure, standardized and repeatable go-to-market operations, and an improved capital structure on the horizon, we believe we have established a solid foundation for our return to profitable growth."

Customer Expansion

During the first quarter, the Company signed 40 total deals for the quarter, including 28 expansion & renewals and 12 new logo deals. New logo deals included:

  • A multinational digital entertainment company; and
  • A global distributor of electrical products and services.

The Company also expanded/renewed business with:

  • A large bank based in Australia; and
  • A global fast casual restaurant company.

Net Loss and Adjusted Operating Loss

Net loss for the first quarter of 2024 was $35.6 million or $0.40 per share, as compared to a net loss of $17.4 million or $0.23 per share for the first quarter of 2023. Adjusted operating loss, a non-GAAP financial measure, for the first quarter of 2024 was $7.7 million, as compared to an adjusted operating loss of $8.7 million for the first quarter of 2023. Adjusted operating loss excludes amortization of purchased intangibles and finance leases, stock-based compensation expense, other litigation, consulting and other employee costs, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, working capital adjustment -Kasamba divestiture, contingent earn-out adjustments, acquisition and divestiture costs, IT transformation costs, interest income, net, gain on divestiture and other expense (income), net.

A reconciliation of non-GAAP financial measures to GAAP measures has been provided in the financial tables included in this press release. An explanation of the non-GAAP financial measures and how they are calculated is included below under the heading "Non-GAAP Financial Measures."

Adjusted EBITDA

Adjusted EBITDA, a non-GAAP financial measure, for the first quarter of 2024 was $0.5 million as compared to a loss of $1.3 million for the first quarter of 2023. Adjusted EBITDA excludes amortization of purchased intangibles and finance leases, stock-based compensation expense, depreciation, other litigation, consulting and other employee costs, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, working capital adjustment - Kasamba divestiture, IT transformation costs, gain on divestiture, contingent earn-out adjustments, provision for income taxes, acquisition and divestiture costs, interest income, net and other expense (income), net.

Cash and Cash Equivalents

The Company's cash balance was $127.1 million at March 31, 2024, as compared to $210.8 million at December 31, 2023. On March 1, 2024 the Company repaid in full the outstanding $72.5 million in aggregate principal amount of the 2024 Notes.   

Financial Expectations

The following forward-looking measures and the underlying assumptions involve significant known and unknown risks and uncertainties, and actual results may vary materially from these forward-looking measures. The Company does not present a quantitative reconciliation of the forward-looking non-GAAP financial measures, adjusted EBITDA and adjusted EBITDA margin to the most directly comparable GAAP financial measures (or otherwise present such forward-looking GAAP measures) because it is impractical to forecast certain items without unreasonable efforts due to the uncertainty and inherent difficulty of predicting, within a reasonable range, the occurrence and financial impact of and the periods in which such items may be recognized. In particular, these non-GAAP financial measures exclude certain items, including amortization of purchased intangibles and finance leases, stock-based compensation expense, depreciation, other litigation, consulting and other employee costs, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, working capital adjustment - Kasamba divestiture, gain on divestiture, contingent earn-out adjustments, provision for income taxes, IT transformation costs, acquisition and divestiture costs, interest (income) expense, and other (income) expense, which depend on future events that the Company is unable to predict. Depending on the size of these items, they could have a significant impact on the Company's GAAP financial results.

For the full year 2024, we continue to expect total revenue to range from $300M - $315M or (24)% to (20)% year over year (excluding $7.2M of Kasamba revenue generated in Q1 2023). In addition, we expect B2B Core recurring revenue to represent 92% of total revenue. For the full year 2024, we expect adjusted EBITDA to range from $15M to $26M, or a margin of 5.0% to 8.3%.

For the second quarter of 2024, we expect total revenue to range from $76M - $80M or (22)% to (18)% year over year. We expect B2B Core recurring revenue to represent 92% of total revenue. For the second quarter of 2024, we expect adjusted EBITDA to range from $0M to $5M, or a margin of 0% to 6.3%.

For the tables below, year-over-year growth rates are on a like-for-like basis (excluding Kasamba contribution from 2023).

Second Quarter 2024



Guidance

Revenue (in millions)

$76 - $80

Revenue growth (year-over-year)

(22)% - (18)%

Adjusted EBITDA (in millions)

$0 - $5

Adjusted EBITDA margin (%)

0% - 6.3%


Full Year 2024



Guidance

Revenue (in millions)

$300 - $315

Revenue growth (year-over-year)

(24)% - (20)%

Adjusted EBITDA (in millions)

$15 - $26

Adjusted EBITDA margin (%)

5.0% - 8.3%

Disaggregated Revenue

Included in the accompanying financial results are revenues disaggregated by revenue source, as follows:


Three Months Ended


March 31,


2024


2023






(In thousands)

Revenue:




Hosted services (1)

$           71,495


$           87,338

Professional services

13,654


20,323

  Total revenue

$           85,149


$         107,661



(1)

On March 20, 2023, the Company completed the sale of Kasamba and therefore ceased recognizing revenue related to Kasamba effective on the transaction close date. Further, this sale eliminated the entire Consumer segment, as a result of which revenue is presented within a single consolidated segment. Hosted services includes $7.2 million of revenue for the three months ended March 31, 2023, relating to Kasamba.

Stock-Based Compensation

Included in the accompanying financial results are expenses related to stock-based compensation, as follows:


Three Months Ended


March 31,


2024


2023






(In thousands)

Cost of revenue

$                  343


$               2,035

Sales and marketing

2,455


2,404

General and administrative

1,798


2,632

Product development

2,962


4,261

  Total

$               7,558


$             11,332

Amortization of Purchased Intangibles and Finance Leases  

Included in the accompanying financial results are expenses related to the amortization of purchased intangibles and finance leases, as follows:


Three Months Ended


March 31,


2024


2023






(In thousands)

Cost of revenue

$               3,326


$               4,561

Amortization of purchased intangibles

891


874

  Total

$               4,217


$               5,435

Supplemental First Quarter 2024 Presentation

LivePerson will post a presentation providing supplemental information for the first quarter 2024 on the investor relations section of the Company's web site at www.ir.liveperson.com

Earnings Teleconference Information

The Company will discuss its first quarter of 2024 financial results during a teleconference today, May 8, 2024, at 5:00 PM ET. To participate via telephone, callers should dial in five to ten minutes prior to the 5:00 p.m. Eastern start time; domestic callers (U.S. and Canada) should dial 1-877-407-0784, while international callers should dial 1-201-689-8560, and both should reference the conference ID "13745862."

The conference call will also be simulcast live on the Internet and can be accessed by logging onto the investor relations section of the Company's web site at www.ir.liveperson.com

If you are unable to participate in the live call, the teleconference will be available for replay approximately two hours after the call. To access the replay, please call 1-844-512-2921 (U.S. and Canada) or 1-412-317-6671 (international). Please reference the conference ID "13745862." A replay will also be available on the investor relations section of the Company's web site at www.ir.liveperson.com

About LivePerson, Inc.

LivePerson (NASDAQ: LPSN)  is the enterprise leader in digital customer conversations. The world's leading brands — including HSBC, Chipotle, and Virgin Media — use our award-winning Conversational Cloud platform to connect with millions of consumers. We power nearly a billion conversational interactions every month, providing a uniquely rich data set and AI-powered solutions to accelerate contact center transformation, supercharge agent productivity, and deliver more personalized customer experiences. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our AI, please visit liveperson.com.

Non-GAAP Financial Measures

Investors are cautioned that the following financial measures used in this press release and on our earnings call are "non-GAAP financial measures": (i) adjusted EBITDA, or loss before provision for income taxes, interest (income) expense, other (income) expense, depreciation, amortization of purchased intangibles and finance leases, stock-based compensation expense, contingent earn-out adjustments, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, working capital adjustment - Kasamba divestiture, IT transformation costs, gain on divestiture, acquisition and divestiture costs and other litigation, consulting and other employee costs; (ii) adjusted EBITDA margin, or loss before provision for income taxes, interest (income) expense, other (income) expense, depreciation, amortization of purchased intangibles and finance leases, stock-based compensation expense, contingent earn-out adjustments, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, IT transformation costs, working capital adjustment - Kasamba divestiture, gain on divestiture, acquisition and divestiture costs and other litigation, consulting and other employee costs divided by revenue; (iii) adjusted operating loss, or operating loss excluding interest (income) expense, other (income) expense, amortization of purchased intangibles and finance leases, stock-based compensation expense, contingent earn-out adjustments, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, IT transformation costs, working capital adjustment - Kasamba divestiture, gain on divestiture, acquisition and divestiture costs, and other litigation, consulting and other employee costs and (iv) free cash flow, or net cash provided by (used in) operating activities less purchases of property and equipment, including capitalized software.

Non-GAAP financial information should not be construed as an alternative to any other measures of performance determined in accordance with GAAP, or as an indicator of our operating performance, liquidity or cash flows generated by operating, investing and financing activities as there may be significant factors or trends that it fails to address. We present non-GAAP financial information because we believe that it is helpful to some investors as one measure of our operations.

Forward-Looking Statements

Statements in this press release and on our earnings call regarding LivePerson that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements, including but not limited to financial guidance, changes to our capital structure, the effects of our cost-reduction efforts and the impact of our expected new hires, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. With respect to our financial guidance, we note that it is routine for our internal projections and expectations to change as the quarter and year progress, and therefore it should be clearly understood that the internal projections and beliefs upon which we base our expectations may change. Although these expectations may change, we are under no obligation to inform you if they do. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: strain on our personnel resources and infrastructure from supporting our customer base; our ability to retain existing customers and cause them to purchase additional services and to attract new customers; our ability to retain key personnel, attract new personnel and to manage staff attrition; our ability to successfully integrate past or potential future acquisitions; our ability to refinance our substantial indebtedness before it becomes due or to secure necessary additional financing on commercially reasonable terms, or at all; lengthy sales cycles; delays in our implementation cycles; payment-related risks; potential fluctuations in our quarterly revenue and operating results; limitations on the effectiveness of our controls; non-payment or late payment of amounts due to us from a significant number of customers; volatility in the capital markets; recognition of revenue from subscriptions; customer retention and engagement; our ability to develop and maintain successful relationships with partners, service partners, social media and other third-party consumer messaging platforms and endpoints; our ability to effectively operate on mobile devices; the highly competitive markets in which we operate; general economic conditions; failures or security breaches in our services, those of our third party service providers, or in the websites of our customers; regulation or possible misappropriation of personal information belonging to our customers' Internet users; US and international laws and regulations regarding privacy data protection and AI and increased public scrutiny of privacy, security and AI issues that could result in increased government regulation and other legal obligations; ongoing litigation and legal matters; new regulatory or other legal requirements that could materially impact our business; governmental export controls and economic sanctions; industry-specific regulation and unfavorable industry-specific laws, regulations or interpretive positions; future regulation of the Internet or mobile devices; technology-related defects that could disrupt the LivePerson services; our ability to protect our intellectual property rights or potential infringement of the intellectual property rights of third parties; the use of AI in our product offerings or by our vendors; the presence of, and difficulty in correcting, errors, failures or "bugs" in our products; our ability to license necessary third party software for use in our products and services, and our ability to successfully integrate third party software; potential adverse impact due to foreign currency and cryptocurrency exchange rate fluctuations; additional regulatory requirements, tax liabilities, currency exchange rate fluctuations and other risks if and as we expand; risks related to our operations in Israel; potential failure to meeting service level commitments to certain customers; legal liability and/or negative publicity for the services provided to consumers via our technology platforms; technological or other defects that could disrupt or negatively impact our services; our ability to maintain our reputation; changes in accounting principles generally accepted in the United States; natural catastrophic events and interruption to our business by man-made problems; potential limitations on our ability to use net operating losses to offset future taxable income; and risks related to our common stock being traded on more than one securities exchange; and other factors described in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 4, 2024. This list is intended to identify only certain of the principal factors that could cause actual results to differ from those discussed in the forward-looking statements. Readers are referred to the Company's reports and documents filed from time to time by us with the Securities and Exchange Commission for a discussion of these and other important factors that could cause actual results to differ from those discussed in forward-looking statements.

 

LivePerson, Inc.

Condensed Consolidated Statements of Operations

(In Thousands, Except Share and Per Share Data)

Unaudited



Three Months Ended


March 31,






2024


2023

Revenue

$           85,149


$         107,661





Costs, expenses and other:




Cost of revenue

29,463


43,096

Sales and marketing

30,130


34,470

General and administrative

21,752


31,447

Product development

30,120


36,519

Impairment of goodwill

3,627


Impairment of intangible and other assets

2,221


Restructuring costs

3,309


11,515

Gain on divestiture


(17,591)

Amortization of purchased intangible assets

891


874

Total costs, expenses and other

121,513


140,330





Loss from operations

(36,364)


(32,669)





Other income (expense), net:




Interest income, net

1,332


1,801

Other (expense) income, net

(237)


14,662

Total other income, net

1,095


16,463





Loss before provision for income taxes

(35,269)


(16,206)





Provision for income taxes

362


1,214





Net loss

$          (35,631)


$          (17,420)





Net loss per share of common stock:




Basic

$              (0.40)


$              (0.23)

Diluted

$              (0.40)


$              (0.23)





Weighted-average shares used to compute net loss per share:




Basic

88,081,654


75,774,812

Diluted

88,081,654


75,774,812

 

LivePerson, Inc.

Condensed Consolidated Statements of Cash Flows

(In Thousands)

Unaudited



Three Months Ended


March 31,


2024


2023

OPERATING ACTIVITIES:




Net loss

$        (35,631)


$        (17,420)

Adjustments to reconcile net loss to net cash used in operating activities:




Stock-based compensation expense

7,558


11,332

Depreciation

8,225


7,362

Reduction of operating lease right-of-use assets

653


658

Amortization of purchased intangible assets and finance leases

4,217


5,435

Amortization of debt issuance costs

610


920

Impairment of goodwill

3,627


Impairment of intangible and other assets

2,221


Change in fair value of contingent consideration


(1,709)

Gain on repurchase of convertible notes


(6,100)

Allowance for credit losses

4,722


1,079

Gain on divestiture


(17,591)

Deferred income taxes

75


589

Equity loss in joint venture


618

Changes in operating assets and liabilities, net of acquisitions:




Accounts receivable

5,422


(34,731)

Prepaid expenses and other current assets

5,854


(6,262)

Contract acquisition costs

(2,370)


530

Other assets

(75)


79

Accounts payable

1,966


(9,910)

Accrued expenses and other current liabilities

(16,976)


41,266

Deferred revenue

10,852


24,750

Operating lease liabilities

(738)


(944)

Other liabilities

887


(5,869)

Net cash provided by (used in) operating activities

1,099


(5,918)

INVESTING ACTIVITIES:




Purchases of property and equipment, including capitalized software

(11,501)


(9,625)

Purchases of intangible assets

(1,209)


(1,355)

Proceeds from divestiture


13,819

Net cash (used in) provided by investing activities

(12,710)


2,839

FINANCING ACTIVITIES:




Principal payments for financing leases

(327)


(958)

Proceeds from issuance of common stock in connection with the exercise of options
and ESPP

122


854

Payments on repurchase of convertible senior notes

(72,492)


(149,702)

Net cash used in financing activities

(72,697)


(149,806)

Effect of foreign exchange rate changes on cash and cash equivalents

400


2,849

Net decrease in cash, cash equivalents, and restricted cash

(83,908)


(150,036)

Cash, cash equivalents, and restricted cash - beginning of year

212,925


392,197

Plus: cash classified within current assets held for sale - beginning of year


10,011

Cash, cash equivalents, and restricted cash - end of period

$       129,017


$       252,172

 

LivePerson, Inc.

Reconciliation of Non-GAAP Financial Information to GAAP

(In Thousands)

Unaudited



Three Months Ended


March 31,


2024


2023

Reconciliation of Adjusted EBITDA (Loss):




GAAP net loss

$          (35,631)


$         (17,420)

Add/(less):




Other litigation, consulting and other employee costs (1)

3,769


11,122

Depreciation

8,225


7,362

Amortization of purchased intangibles and finance leases

4,217


5,435

Restructuring costs (2)

3,309


11,515

Impairment of goodwill

3,627


Impairment of intangible and other assets

2,221


Leadership transition costs

1,389


Working capital adjustment - Kasamba divestiture

1,776


Contingent earn-out adjustments


1,709

Acquisition and divestiture costs

42


2,203

Stock-based compensation expense 

7,558


11,332

Provision for income taxes

362


1,214

IT transformation costs (3)

708


Interest income, net

(1,332)


(1,801)

Gain on divestiture


(17,591)

Other expense (income), net (4)

237


(16,371)

Adjusted EBITDA (loss)

$                 477


$           (1,291)





Reconciliation of Adjusted Operating Loss




Loss before provision for income taxes

(35,269)


(16,206)

Add/(less):




Other litigation, consulting and other employee costs (1)

3,769


11,122

Amortization of purchased intangibles and finance leases

4,217


5,435

Restructuring costs (2)

3,309


11,515

Impairment of goodwill

3,627


Impairment of intangible and other assets

2,221


Leadership transition costs

1,389


Working capital adjustment - Kasamba divestiture

1,776


Contingent earn-out adjustments


1,709

Acquisition and divestiture costs

42


2,203

Stock-based compensation expense

7,558


11,332

IT transformation costs (3)

708


Interest income, net

(1,332)


(1,801)

Gain on divestiture


(17,591)

Other expense (income), net (4)

237


(16,371)

Adjusted operating loss

$            (7,748)


$           (8,653)







(1)

Includes litigation costs of $3.0 million, consulting costs of $0.6 million and accrued expenses and fees of $0.1 million for the three months ended March 31, 2024. Includes litigation costs of $9.5 million, accrued expenses and fees of $1.4 million and consulting costs of $0.2 million for the three months ended March 31, 2023.

(2)

Includes IT contract termination cost of $0.7 million and severance costs and other compensation related costs of $2.6 million for the three months ended March 31, 2024. Includes severance costs and other compensation related costs of $11.5 million for the three months ended March 31, 2023.

(3)

Includes $0.7 million IT infrastructure realignment costs related to consolidating and migrating data centers to the cloud.

(4)

Includes $10.0 million of other income related to the litigation settlement and $6.1 million of gain related to convertible senior notes repurchases for the three months ended March 31, 2023. The remaining amount of other expense (income), net fluctuation is attributable to currency rate fluctuations  for the three months ended March 31, 2023.

 


Three Months Ended


March 31,


2024


2023

Calculation of Free Cash Flow:




Net cash provided by (used in) operating activities

$              1,099


$            (5,918)

Purchases of property and equipment, including capitalized software

(11,501)


(9,625)

Total free cash flow

$          (10,402)


$          (15,543)

 

LivePerson, Inc.

Condensed Consolidated Balance Sheets

(In Thousands)

Unaudited



March 31,
2024


December 31,
2023

ASSETS




CURRENT ASSETS:




Cash and cash equivalents

$         127,057


$         210,782

Restricted cash

1,960


2,143

Accounts receivable, net of allowance for credit losses

71,365


81,802

Prepaid expenses and other current assets

20,954


26,981

Total current assets

221,336


321,708

Operating lease right-of-use assets

3,431


4,135

Property and equipment, net

117,893


119,325

Contract acquisition costs, net

39,326


37,354

Intangible assets, net

56,009


61,625

Goodwill

280,956


285,631

Deferred tax assets

4,473


4,527

Other assets

1,264


1,208

Total assets

$         724,688


$         835,513





LIABILITIES AND STOCKHOLDERS' EQUITY




CURRENT LIABILITIES:




Accounts payable

$           14,528


$           13,555

Accrued expenses and other current liabilities

75,506


97,024

Deferred revenue

92,414


81,858

Convertible senior notes


72,393

Operating lease liabilities

2,632


2,719

Total current liabilities

185,080


267,549

Convertible senior notes, net of current portion

512,076


511,565

Operating lease liabilities, net of current portion

1,466


2,173

Deferred tax liabilities

3,002


2,930

Other liabilities

3,881


3,158

Total liabilities

705,505


787,375

Total stockholders' equity

19,183


48,138

Total liabilities and stockholders' equity

$         724,688


$         835,513

 

Investor Relations contact
ir-lp@liveperson.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/liveperson-announces-first-quarter-2024-financial-results-302140432.html

SOURCE LivePerson

FAQ

<p>What was LivePerson's total revenue for Q1 2024?</p>

LivePerson reported total revenue of $85.1 million for Q1 2024.

<p>Who is LivePerson's CEO?</p>

CEO of LivePerson is John Sabino.

<p>What was LivePerson's adjusted EBITDA for Q1 2024?</p>

LivePerson's adjusted EBITDA for Q1 2024 was $0.5 million.

<p>What caused the decrease in LivePerson's total revenue for Q1 2024?</p>

The decrease in total revenue was attributed to customer churn and the exit of non-core business lines.

<p>What was LivePerson's cash balance at the end of Q1 2024?</p>

LivePerson's cash balance was $127.1 million at the end of Q1 2024.

LivePerson Inc

NASDAQ:LPSN

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Software - Application
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United States of America
NEW YORK