The following is a summary of the LivePerson, Inc. (LPSN) Q1 2024 Earnings Call Transcript:
Financial Performance:
LivePerson reported Q1 2024 revenue of $85.1 million, a decline of 21% compared to the previous year but exceeding their guidance.
The company fully repaid its 2024 notes amounting to $72.5 million.
Adjusted EBITDA stood at $0.5 million, surpassing their guidance midpoint.
Forecasts for the end-year cash balance to remain around the current $127 million, assuming continued progress in restructuring efforts.
For Q2 2024, revenue is projected to be between $76 million and $80 million, with Adjusted EBITDA ranging from $0 million to $5 million.
Full-year revenue guidance remains at $300 million - $350 million, with an EBITDA guidance range of $15 million - $26 million.
Business Progress:
LivePerson is undergoing a significant transformation strategy, entailing operational changes including new leadership, simplified pricing, and a strategic partnership with a major global CCaaS company.
The transformation focuses on streamlining go-to-market operations, improving capabilities, new pricing strategies, and product orchestration enhancements.
Initiatives have been taken to provide data on customers' health and adoption rates, advancements in voice integration, enhancing bring your own LLM functionality, and improving messaging performance.
It plans to counteract customer churn by announcing a strategic partnership to offer consolidated platforms.
The process of closing deals with customers has been simplified, providing higher economic value.
Plans are in motion to either sell or wind down Wild Health, with more updates expected this month.
More details: LivePerson IR
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