LivePerson Inc. Files Q2 2024 10-Q Report

TL;DR

LivePerson's Q2 10-Q is in, check financials for latest performance.

AI Summary

LivePerson Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and strategic developments are presented within this report.

Why It Matters

This report provides investors and stakeholders with a detailed look at LivePerson's financial health and operational progress during the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal risks or opportunities impacting the company's stock.

Key Numbers

• 2024 Q2 — Reporting Period (Financials cover the second quarter of 2024.)
• 2023-12-31 — Previous Year End (Comparison point for financial data.)
• 2024-06-30 — Current Period End (End date for the reported financial data.)

Key Players & Entities

• LivePerson Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240807 (date) — Filing date of the report
• 530 7TH AVENUE (location) — Company's business and mailing address
• NEW YORK (location) — Company's city of business and mailing address

FAQ

Key Financial Figures

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

Filing Documents

• lpsn-20240630.htm (10-Q) — 1617KB
• q22024ex311-ceocertificati.htm (EX-31.1) — 11KB
• q22024ex312-cfocertificati.htm (EX-31.2) — 11KB
• q22024ex321-ceocertificati.htm (EX-32.1) — 6KB
• q22024ex322-cfocertificati.htm (EX-32.2) — 6KB
• 0001102993-24-000111.txt ( ) — 9891KB
• lpsn-20240630.xsd (EX-101.SCH) — 69KB
• lpsn-20240630_cal.xml (EX-101.CAL) — 88KB
• lpsn-20240630_def.xml (EX-101.DEF) — 391KB
• lpsn-20240630_lab.xml (EX-101.LAB) — 853KB
• lpsn-20240630_pre.xml (EX-101.PRE) — 617KB
• lpsn-20240630_htm.xml (XML) — 1512KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited): 4 Condensed Consolidated Balance Sheets as of June 30 , 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30 , 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income ( Loss ) for the Three and Six Months Ended June 30 , 2024 and 2023 6 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30 , 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30 , 2024 and 2023 9 Notes to Condensed Consolidated Financial Statements 11

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 38

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 45

Controls and Procedures

Item 4. Controls and Procedures 46

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 47

Risk Factors

Item 1A. Risk Factors 47

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 50

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 50

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 50

Other Information

Item 5. Other Information 50

Exhibits

Item 6. Exhibits 51

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) June 30, 2024 December 31, 2023 (In thousands) ASSETS Current assets: Cash and cash equivalents $ 145,957 $ 210,782 Restricted cash — 2,143 Accounts receivable, net of allowance for credit losses of $ 9,356 and $ 9,290 as of June 30, 2024 and December 31, 2023, respectively 56,351 81,802 Prepaid expenses and other current assets (Note 1) 18,132 26,981 Total current assets 220,440 321,708 Operating lease right-of-use assets (Note 9) 260 4,135 Property and equipment, net (Note 6) 106,948 119,325 Contract acquisition costs, net 36,864 37,354 Intangible assets, net (Note 5) 52,956 61,625 Goodwill (Note 5) 280,726 285,631 Deferred tax assets 4,441 4,527 Other assets 1,133 1,208 Total assets $ 703,768 $ 835,513 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 13,878 $ 13,555 Accrued expenses and other current liabilities (Note 7) 68,237 97,024 Deferred revenue (Note 2) 79,356 81,858 Convertible senior notes (Note 8) — 72,393 Operating lease liabilities (Note 9) 268 2,719 Total current liabilities 161,739 267,549 Convertible senior notes, net of current portion (Note 8) 468,666 511,565 Operating lease liabilities, net of current portion (Note 9) — 2,173 Deferred tax liabilities 3,075 2,930 Other liabilities 3,682 3,158 Total liabilities 637,162 787,375 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, 91,752,520 and 90,603,519 shares issued, 88,986,447 and 87,837,446 shares outstanding as of June 30, 2024 and December 31, 2023, respectively. 92 91 Treasury stock - 2,766,073 shares as of June 30, 2024 and December 31, 2023 ( 3 ) ( 3 ) Additional paid-in capital 927,529 913,522 Accumulated deficit ( 850,824 ) ( 856,988 ) Accumulated o

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