LivePerson Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>LivePerson Inc. has filed its Q1 2024 10-Q report detailing financial performance and business operations.</b>

AI Summary

LIVEPERSON INC (LPSN) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. LivePerson Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data and business segments are detailed within the report. The company's principal executive offices are located at 475 10th Avenue, 5th Floor, New York, NY 10018. The filing was submitted on May 10, 2024.

Why It Matters

For investors and stakeholders tracking LIVEPERSON INC, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial results and operational updates for LivePerson Inc. for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and future prospects in the software services industry.

Risk Assessment

Risk Level: medium — LIVEPERSON INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not indicate any immediate, severe risks, but the nature of the software industry and the company's specific market position warrant a medium risk assessment.

Analyst Insight

Review the detailed financial statements and segment performance in the 10-Q to identify trends and potential investment opportunities or risks.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-10 — Filing Date (FILED AS OF DATE)
• 104 — Public Document Count (PUBLIC DOCUMENT COUNT)
• 7372 — Standard Industrial Classification (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• LIVEPERSON INC (company) — FILER
• 475 10TH AVENUE (location) — BUSINESS ADDRESS STREET 1
• NEW YORK (location) — BUSINESS ADDRESS CITY
• 10018 (location) — BUSINESS ADDRESS ZIP
• 2126094200 (phone) — BUSINESS PHONE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-10 (date) — FILED AS OF DATE
• 0001102993-24-000077 (filing_id) — ACCESSION NUMBER

FAQ

Risk Factors

• Regulatory Compliance [medium — regulatory]: The company must comply with various regulations related to its software and services, which can change and impact operations.
• Market Competition [medium — market]: The software and services market is highly competitive, requiring continuous innovation and adaptation to maintain market share.
• Service Disruption [medium — operational]: Any disruption to the company's hosted services could lead to significant financial and reputational damage.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share LPSN The Nasdaq Stock Market

Filing Documents

• lpsn-20240331.htm (10-Q) — 1165KB
• q12024ex311-ceocertificati.htm (EX-31.1) — 11KB
• q12024ex312-cfocertificati.htm (EX-31.2) — 11KB
• q12024ex321-ceocertificati.htm (EX-32.1) — 6KB
• q12024ex322-cfocertificati.htm (EX-32.2) — 6KB
• 0001102993-24-000077.txt (&nbsp;) — 8050KB
• lpsn-20240331.xsd (EX-101.SCH) — 62KB
• lpsn-20240331_cal.xml (EX-101.CAL) — 85KB
• lpsn-20240331_def.xml (EX-101.DEF) — 276KB
• lpsn-20240331_lab.xml (EX-101.LAB) — 775KB
• lpsn-20240331_pre.xml (EX-101.PRE) — 551KB
• lpsn-20240331_htm.xml (XML) — 1130KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited): 4 Condensed Consolidated Balance Sheets as of March 3 1 , 202 4 and December 31, 202 3 4 Condensed Consolidated Statements of Operations for the Three Months Ended March 3 1 , 202 4 and 202 3 5 Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 202 3 8 Notes to Condensed Consolidated Financial Statements 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures A bout Market Risk

Item 3. Quantitative and Qualitative Disclosures A bout Market Risk 39

Controls and Procedures

Item 4. Controls and Procedures 40

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 40

Risk Factors

Item 1A. Risk Factors 40

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 41

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 41

Other Information

Item 5. Other Information 41

Exhibits

Item 6. Exhibits 43

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS

— FINANCIAL INFORMATION

Part I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements LIVEPERSON, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) March 31, 2024 December 31, 2023 (In thousands) ASSETS Current assets: Cash and cash equivalents $ 127,057 $ 210,782 Restricted cash 1,960 2,143 Accounts receivable, net of allowance for credit losses of $ 9,235 and $ 9,290 as of March 31, 2024 and December 31, 2023, respectively 71,365 81,802 Prepaid expenses and other current assets (Note 1) 20,954 26,981 Total current assets 221,336 321,708 Operating lease right-of-use assets (Note 9) 3,431 4,135 Property and equipment, net (Note 6) 117,893 119,325 Contract acquisition costs, net 39,326 37,354 Intangible assets, net (Note 5) 56,009 61,625 Goodwill (Note 5) 280,956 285,631 Deferred tax assets 4,473 4,527 Other assets 1,264 1,208 Total assets $ 724,688 $ 835,513 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 14,528 $ 13,555 Accrued expenses and other current liabilities (Note 7) 75,506 97,024 Deferred revenue (Note 2) 92,414 81,858 Convertible senior notes (Note 8) — 72,393 Operating lease liabilities (Note 9) 2,632 2,719 Total current liabilities 185,080 267,549 Convertible senior notes, net of current portion (Note 8) 512,076 511,565 Operating lease liabilities, net of current portion (Note 9) 1,466 2,173 Deferred tax liabilities 3,002 2,930 Other liabilities 3,881 3,158 Total liabilities 705,505 787,375 Commitments and contingencies (Note 11) Stockholders' equity: Preferred stock, $ 0.001 par value - 5,000,000 shares authorized, none issued — — Common stock, $ 0.001 par value - 200,000,000 shares authorized, 91,131,823 and 90,603,519 shares issued, 88,365,750 and 87,837,446 shares outstanding as of March 31, 2024 and December 31, 2023, respectively. 92 91 Treasury stock - 2,766,073 shares at March 31, 2024 and December 31, 2023 ( 3 ) ( 3 ) Additional paid-in capital 921,895 913,522 Accumulated deficit ( 892,619 ) ( 856,988 )

View Full Filing

View this 10-Q filing on SEC EDGAR