Liveperson Inc Stock Price, News & Analysis

LivePerson (Nasdaq: LPSN) has launched a pilot program with Cohere, focusing on developing custom Large Language Models (LLMs) for enterprise brands. This collaboration aims to enhance customer engagement and drive better business outcomes by leveraging LivePerson's conversational AI platform and Cohere's advanced language processing technology.

The partnership addresses concerns about the deployment of AI technology, offering features like tailored LLMs, safety measures to avoid inappropriate responses, and actionable outcomes from conversations. This initiative promises significant cost savings and greater efficiency for businesses seeking to integrate AI into their operations.

LivePerson announced the sale of its subsidiary Kasamba to Ingenio, a portfolio company of Alpine Investors, on March 23, 2023. This strategic divestiture aligns with LivePerson's focus on enhancing its Conversational AI for enterprise clients. CEO Rob LoCascio highlighted the sale as an opportunity to refocus resources towards AI-led growth in the B2B market. CFO John Collins acknowledged Kasamba's profitability, marking the sale as part of a broader strategy. Ingenio's CEO expressed enthusiasm about integrating Kasamba into its wellness-focused portfolio, strengthening its position in the lifestyle and wellness market.

LivePerson announced the repurchase of approximately $157.5 million in its 0.75% Convertible Senior Notes due 2024, paying around $149.7 million in cash. Post-repurchase, around $72.5 million of the Notes remain outstanding. This move aligns with their strategy to balance profitability and growth, having already cut costs by $200 million annually. CFO John Collins emphasized that repurchasing 68% of the Notes at a discount preserves capital and strengthens the company’s credit profile.

LivePerson (NASDAQ: LPSN) has been awarded the Gold Stevie® Award for Sales or Customer Service Solutions Technology Partner of the Year at the 2023 Stevie Awards. This accolade marks the company's 12th Stevie win. The Stevie Awards, renowned globally for recognizing excellence in customer service and business development, received over 2,300 nominations from various industries. LivePerson's AI technology powers nearly one billion conversational interactions monthly, helping brands like HSBC and Burberry enhance customer engagement and drive better business outcomes. CEO Rob LoCascio emphasized the significance of AI in modern business strategies.

LivePerson, Inc. (LPSN) reported Q4 2022 revenue of $122.5 million, a 1% decrease year-over-year. Business operations revenue fell 1% to $113 million, while consumer operations dropped 3% to $9.4 million. The company signed 90 deals, including a significant seven-figure contract, but existing customer deals saw a decline. Notably, enterprise deal count rose by 21.7%. The net loss for the quarter was $41.7 million or $0.55 per share, an improvement over the previous year. Despite challenges, management is confident in future growth driven by AI and cost reductions. The company expects positive free cash flow and improved margins in 2023.

LivePerson, Inc. (NASDAQ: LPSN), a leader in Conversational AI, is set to release its fourth quarter financial results on March 15, 2023, after market close. The CEO, Robert LoCascio, and CFO, John Collins, will host a video webcast at 5:00 p.m. ET to discuss the results and share insights on the company's AI strategy. LivePerson serves major brands like HSBC and Virgin Media through its Conversational Cloud platform, driving nearly a billion interactions monthly. This extensive data collection is aimed at reducing costs and increasing revenues. The webcast will be available for replay until March 29, 2023.

On March 1, 2023, LivePerson, Inc. (NASDAQ: LPSN) announced the issuance of equity-based incentive awards under its Inducement Plan as required by Nasdaq Listing Rule 5635(c)(4). The plan was established to attract new hires by providing stock options and RSUs. Recently, 23,272 shares were granted to one employee as part of this inducement strategy. Awards typically vest over 3 to 4 years, contingent on continued employment. LivePerson is recognized for its leadership in Conversational AI, serving major brands like HSBC and Virgin Media, and facilitating nearly a billion interactions monthly.

LivePerson, Inc. (NASDAQ: LPSN) announced a delay in filing its Form 10-K for the year ended December 31, 2022, prompting a reschedule of its fourth quarter earnings release and webcast. The company filed a Form 12b-25 with the SEC, allowing an extension of 15 days until March 16, 2023, to finalize its report. This delay is attributed to additional review and testing of revenue recognition related to the recently discontinued WildHealth program, which is under governmental review. LivePerson anticipates completing the filing within the grace period.