Q2 2024 LivePerson Inc Earnings Call Transcript
Key Points
- LivePerson Inc (LPSN) successfully closed a deal with Lynrock Lake, significantly improving its capital structure.
- The company reported revenue of $79.9 million for Q2 2024, at the high end of its guidance range.
- Adjusted EBITDA for Q2 2024 was $8.2 million, above the high end of the guidance range.
- LivePerson Inc (LPSN) launched new pricing and packaging ahead of schedule, simplifying contracts and reducing add-on costs.
- The company saw a 20% increase in the number of customers adopting Generative AI, with over 6 million conversations powered by this technology in the last quarter.
- Revenue from B2B hosted services was down 17% year over year.
- Net revenue retention was 83% in Q2 2024, down from 89% in the previous quarter.
- The number of deals signed in Q2 2024 was down 8% from the first quarter.
- Revenue is expected to decline sequentially through the year due to customer cancellations and down sales.
- The company divested Wild Health, which was operating at a significant loss, impacting overall revenue.
Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to LivePerson's second quarter 2024 earnings conference call. My name is Irene, and I will be your conference operator today. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the conference call over to Mr. Jon Perachio, Senior Director of Investor Relations. Please go ahead.
Thank you, Irene. Joining me in today's call is John Sabino, CEO; and John Collins, CFO and COO. Please note that during today's call we will make forward-looking statements which are predictions, projections, and other statements about future results.
These statements are based on our current expectations and assumptions as of today, July 31, 2024, and are subject to risks and uncertainties. Actual results may differ materially due to various factors including those described in today's earnings press release, in the comments made during this conference call, as well as in 10-K's, 10
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
