LivePerson Inc - LPSN STOCK NEWS

LivePerson (Nasdaq: LPSN) has been recognized as a Representative Vendor in the 2024 Gartner Market Guide for Conversational AI Solutions.

This recognition follows multiple mentions in Gartner research over the past year, including being named a Sample Vendor in the Gartner Hype Cycle for Customer Service and Support Technologies for three consecutive years, a Representative Vendor in the Gartner Market Guide for Digital Customer Service and Support for two years in a row, and in the 2023 Gartner Market Guide for Speech Analytics Platforms.

LivePerson is committed to enhancing both employee and customer experiences through its AI-enabled applications.

LivePerson (Nasdaq: LPSN), a leader in digital customer conversations, won the Best Customer Service Solution at the 2024 SIIA CODiE Awards. The CODiE Awards, now in their 39th year, honor the most innovative business technology products globally. The awards process includes rigorous reviews by expert judges and votes from the SIIA membership community. LivePerson's Conversational Cloud platform, built on years of experience and billions of real customer interactions, was recognized for its excellence in AI and digital engagement. CEO John Sabino highlighted the company's success in delivering measurable ROI from AI, emphasizing the importance of meaningful conversations in business.

LivePerson, a leader in digital customer conversations, has appointed Sandy Hogan as the new Chief Revenue Officer (CRO) effective June 6, 2024. Hogan, with decades of experience in technology and go-to-market leadership roles, will focus on accelerating growth, enhancing go-to-market strategies, and maximizing customer success. She previously led major transformations at SADA and VMWare. CEO John Sabino expressed confidence in Hogan's ability to drive significant value for LivePerson's enterprise customers through the award-winning Conversational Cloud platform. Hogan aims to leverage AI and interconnected technology to improve customer interactions and deliver meaningful business outcomes.

LivePerson (Nasdaq: LPSN), a leader in digital customer conversations, announced new AI capabilities, partnerships, and integrations. These innovations will be presented at the Spark virtual event on May 23, 2024. The new offerings include Conversation Orchestration and Voice-to-Digital solutions, integrating large language models and third-party bots to enhance customer experience. Partners like Delta Air Lines and Spotify will participate in in-person breakout sessions to showcase these advancements. A major partnership with Avaya aims to unify voice and digital channels, expanding access to customer brands and enhancing service delivery.

LivePerson (Nasdaq: LPSN) has entered an agreement to exchange $146 million of its 2026 Convertible Senior Notes for $100 million of 2029 Convertible Senior Secured Notes with Lynrock Lake Master Fund LP. Additionally, Lynrock commits to providing $100 million in new capital through additional New Notes, with $50 million immediately and another $50 million within six months on request. This transaction aims to improve LivePerson's capital structure by capturing discounts on existing notes, extending debt maturity, and raising new capital for further deleveraging. The New Notes will be secured and guaranteed by certain company subsidiaries, and Lynrock will receive 10-year warrants for 11% of LivePerson’s common stock at $0.75 per share. The transaction is expected to close by the end of May.

Avaya and LivePerson have announced a new partnership to provide a unified omnichannel solution, integrating voice, digital, and AI capabilities for personalized customer experiences. This collaboration aims to accelerate enterprise digital transformation with market-leading digital and AI capabilities without disrupting existing operations. The partnership will offer Advanced Digital and Unified Insights Capabilities to drive accelerated time-to-value and reduce risks using AI for customer experience.

LivePerson, Inc. (Nasdaq: LPSN) reported recent grants of equity-based incentive awards under the Inducement Plan for new hires. The grants included 22 grants of restricted stock units (RSUs) totaling 1,367,572 shares of Common Stock. These awards were made between June 1, 2023, and April 30, 2024. The RSUs vest over 4 years or 2 years, depending on the grant date, subject to continued employment.

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.

LivePerson has been recognized as a Leader in G2 Grid® reports for Bot Platforms, Chatbots, Conversational Marketing, and Live Chat based on user reviews. The company also achieved best-in-class rankings in implementation and usability indices across AI and digital customer conversation categories.