LivePerson Q1 2023 Earnings Report
Key Takeaways
LivePerson's Q1 2023 saw a total revenue of $107.7 million, a 17% decrease compared to the same period last year. The company signed 70 deals, including 20 new and 50 existing customer contracts. Adjusted EBITDA was $(1.3) million, and the company reaffirmed its full-year revenue and adjusted EBITDA guidance.
Total revenue for Q1 2023 was $107.7 million, a 17% decrease year-over-year.
The company signed 70 deals in Q1, including 20 new and 50 existing customer contracts.
Adjusted EBITDA for Q1 2023 was $(1.3) million, compared to $(17.6) million for Q1 2022.
LivePerson reaffirmed its full-year 2023 revenue guidance of $394M to $408M and adjusted EBITDA guidance of $15M to $32M.
LivePerson
LivePerson
LivePerson Revenue by Segment
Forward Guidance
LivePerson is reaffirming its full-year revenue and adjusted EBITDA guidance. For the second quarter, the company expects revenue between $95M and $99M and adjusted EBITDA between $3M and $7M.
Positive Outlook
- Full year revenue guidance range is $394M to $408M.
- Full-year adjusted EBITDA guidance range of $15M to $32M.
- Recurring revenue component of total revenue in the second quarter is expected to be approximately 87%, which implies 2% growth sequentially.
- Sequential improvement in profitability expected for the remainder of the year.
- Wild Health’s growth in the first quarter was consistent with the expectations set last quarter for its core revenue to double for the full year.
Challenges Ahead
- Second quarter revenue is expected to be $95M to $99M, a decline of -23% to -20% YoY.
- Sequential decline in total revenue from the first quarter is due primarily to professional services revenue from the JV that is not expected to continue.
- Part of the overperformance in the first quarter was due to the timing of certain expenses that we expect to recognize later in the year.
- Inclusive of Kasamba revenue, guidance range for full year revenue is a decline of -23% to -21% YoY.
- Normalizing for Kasamba in both periods, our revenue guidance range is a decline of -19% to -16% YoY.
Revenue & Expenses
Visualization of income flow from segment revenue to net income