LivePerson Responds to Letter from Starboard Value

Rhea-AI Summary

LivePerson (NASDAQ: LPSN), a leader in Conversational AI, reported a 28% year-over-year revenue growth in 2021, totaling approximately $470 million. The company marked a significant milestone with 1.5 billion conversations on its platform, showcasing its scalability and competitive edge. LivePerson has engaged with Starboard Value after their investment disclosure, affirming commitment to shareholder interests. The Board will present its nominees for the 2022 Annual Meeting in the upcoming proxy statement.

Positive

• 28% year-over-year revenue growth in 2021 to approximately $470 million.
• Achieved a milestone of 1.5 billion conversations on the platform.
• Over 40% growth in AI-powered messaging volume.

Negative

• None.

NEW YORK, April 8, 2022 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) ("LivePerson" or the "Company"), a global leader in conversational AI, today issued the following statement:

LivePerson welcomes feedback from investors, and regularly engages with shareholders on various financial, strategic and governance topics. Members of the LivePerson Board and management team have constructively engaged in dialogue with Peter Feld and Starboard Value since the fund's disclosure of its investment in February. LivePerson remains committed to serving the best interests of all shareholders.

LivePerson is the market leader in Conversational Artificial Intelligence with a best-in-class platform used by thousands of the world's top brands to better understand customer intents, connect across channels and deliver meaningful outcomes. In 2021, the Company hit a milestone of 1.5 billion total conversations on its platform, demonstrating the breadth and depth of its scalability and data assets and further strengthening its competitive moat for delivering high quality Conversational AI.

LivePerson's full year 2021 revenue grew 28% year-over-year to approximately $470 million, driven by over 40% growth in AI-powered messaging volume in its Conversational Cloud, and 28% growth in total messaging conversations. The Company has generated more than 250% total return for shareholders over the past five years.

The Company is executing on its strategic priorities and profitable growth plan, as previously announced, and will update shareholders when it reports results for the first quarter of fiscal year 2022.

The Board will present its recommendations regarding director nominees for election at the Company's 2022 Annual Meeting in the Company's definitive proxy statement, accompanying GOLD proxy card and other relevant documents to be filed with the SEC.

About LivePerson
LivePerson (NASDAQ:LPSN) is a leading Conversational AI company creating digital experiences that are Curiously Human. Every person is unique, and our technology makes it possible for companies to treat their audiences that way at scale. Our customers, including leading brands like HSBC, Orange and GM Financial, can now meet customers where they are across social media, messaging, email, voice, and more. Nearly a billion conversational interactions are powered by our Conversational Cloud each month. Out of that comes a uniquely rich data set for AI for brands to build connections that are anything but artificial. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our Conversational AI, please visit liveperson.com.

Forward-Looking Statements
Statements in this press release 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 are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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, the factors described in the Risk Factors section of the Company's most recently filed Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 28, 2022 and as from time to time updated in LivePerson's Quarterly Reports on Form 10-Q. The list of Risk Factors 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.

Important Additional Information
LivePerson intends to file a proxy statement and GOLD proxy card with the SEC in connection with the solicitation of proxies for LivePerson's 2022 Annual Meeting of Shareholders (the "Proxy Statement" and such meeting the "2022 Annual Meeting"). LivePerson, its directors and certain of its executive officers will be participants in the solicitation of proxies from shareholders in respect of the 2022 Annual Meeting. Information regarding the names of LivePerson's directors and executive officers and their respective interests in LivePerson by security holdings or otherwise is set forth in LivePerson's proxy statement for the 2021 Annual Meeting of Shareholders, filed with the SEC on April 26, 2021 (the "2021 Proxy Statement"). To the extent holdings of such participants in LivePerson's securities have changed since the amounts described in the 2021 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Additional information can also be found in LivePerson's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on February 28, 2022. Details concerning the nominees of LivePerson's Board of Directors for election at the 2022 Annual Meeting will be included in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF LIVEPERSON ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders will also be able to obtain a copy of the definitive Proxy Statement and other documents filed by LivePerson free of charge from the SEC's website, www.sec.gov. LivePerson's shareholders will also be able to obtain, without charge, a copy of the definitive Proxy Statement and other relevant filed documents by directing a request by mail to LivePerson, Corporate Secretary, LivePerson Inc., 530 7th Avenue, New York, New York 10018, or from the Company's website, https://www.liveperson.com.

Contact
Investors: ir-lp@liveperson.com 
Media: Mike Tague, mtague@liveperson.com

 

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SOURCE LivePerson, Inc.

FAQ

What was LivePerson's revenue growth in 2021?

LivePerson reported a 28% year-over-year revenue growth in 2021, totaling approximately $470 million.

How many conversations did LivePerson's platform handle in 2021?

In 2021, LivePerson's platform handled 1.5 billion conversations.

What is the significance of LivePerson's engagement with Starboard Value?

LivePerson has been constructively engaging with Starboard Value to align on financial and governance topics, emphasizing commitment to all shareholders.

When will LivePerson report its Q1 2022 financial results?

LivePerson plans to update shareholders on its financial results for the first quarter of fiscal year 2022 during its reporting.

What can shareholders expect in the 2022 Annual Meeting?

The Board will present its recommendations regarding director nominees in the proxy statement for the 2022 Annual Meeting.