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LivePerson(LPSN) - 2024 Q4 - Annual Results
LPSNLivePerson(LPSN)2025-03-05 21:05

Financial Performance - Total revenue for Q4 2024 was 73.2million,adecreaseof23.373.2 million, a decrease of 23.3% compared to the same period last year[3]. - Revenue for Q4 2024 was 73,206,000, a decrease of 23.3% compared to 95,468,000inQ42023[31].−TotalrevenuefortheyearendedDecember31,2024,was95,468,000 in Q4 2023[31]. - Total revenue for the year ended December 31, 2024, was 312,474,000, down 22.2% from 401,983,000in2023[31].−ForQ12025,totalrevenueisexpectedtorangefrom401,983,000 in 2023[31]. - For Q1 2025, total revenue is expected to range from 63 million to 65million,representingayear−over−yeardeclineof2465 million, representing a year-over-year decline of 24% to 26%[12]. - For the full year 2025, total revenue is expected to range from 240 million to 255million,adeclineof18255 million, a decline of 18% to 23% year-over-year[13]. Net Loss and Earnings - Net loss for Q4 2024 was 112.1 million, or 1.27pershare,comparedtoanetlossof1.27 per share, compared to a net loss of 40.5 million, or 0.48pershare,inQ42023[8].−NetlossforQ42024was0.48 per share, in Q4 2023[8]. - Net loss for Q4 2024 was 112,128,000, compared to a net loss of 40,525,000inQ42023,representinganincreaseinlossof176.540,525,000 in Q4 2023, representing an increase in loss of 176.5%[31]. - GAAP net loss for Q4 2024 was 112.1 million, compared to a loss of 40.5millioninQ42023,representinganincreaseof17640.5 million in Q4 2023, representing an increase of 176%[36]. Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was 8.1 million, up from 3.7millioninQ42023[9].−AdjustedEBITDAforQ42024was3.7 million in Q4 2023[9]. - Adjusted EBITDA for Q4 2024 was 8.1 million, up from 3.7millioninQ42023,indicatingagrowthof1183.7 million in Q4 2023, indicating a growth of 118%[36]. - The company anticipates adjusted EBITDA for the full year 2025 to range from (14) million to 0million[15].CashandLiquidity−CashbalanceatDecember31,2024,was0 million[15]. Cash and Liquidity - Cash balance at December 31, 2024, was 183.2 million, down from 210.8millionattheendof2023[10].−Cash,cashequivalents,andrestrictedcashattheendof2024were210.8 million at the end of 2023[10]. - Cash, cash equivalents, and restricted cash at the end of 2024 were 183,237,000, down from 212,925,000attheendof2023,reflectingadecreaseof13.9212,925,000 at the end of 2023, reflecting a decrease of 13.9%[34]. - Cash and cash equivalents decreased to 183.2 million in Q4 2024 from 210.8millioninQ42023,adeclineof13210.8 million in Q4 2023, a decline of 13%[44]. - Total Free Cash Flow for the year ended December 31, 2024, was (40.3) million, an improvement from (48.4)millionin2023[41].CostsandExpenses−Thetotalcosts,expenses,andotherforQ42024were(48.4) million in 2023[41]. Costs and Expenses - The total costs, expenses, and other for Q4 2024 were 174,200,000, an increase of 28% from 136,137,000inQ42023[31].−InterestexpensefortheyearendedDecember31,2024,was136,137,000 in Q4 2023[31]. - Interest expense for the year ended December 31, 2024, was 14,486,000, significantly higher than 4,882,000in2023[31].−Interestexpenseincreasedto4,882,000 in 2023[31]. - Interest expense increased to 6.3 million in Q4 2024 from 0.8millioninQ42023[42].−Thecompanyincurredrestructuringcostsof0.8 million in Q4 2023[42]. - The company incurred restructuring costs of 3,263,000 in Q4 2024, down from 6,665,000inQ42023[31].−Thecompanyincurredrestructuringcostsof6,665,000 in Q4 2023[31]. - The company incurred restructuring costs of 3.3 million in Q4 2024, down from 6.7millioninQ42023[36].ImpairmentandGoodwill−Thecompanyreportedanimpairmentofgoodwillamountingto6.7 million in Q4 2023[36]. Impairment and Goodwill - The company reported an impairment of goodwill amounting to 56,924,000 in Q4 2024, compared to no impairment in Q4 2023[31]. - The company reported impairment of goodwill amounting to 56.9millionforQ42024,comparedtonoimpairmentinQ42023[36].BusinessDevelopment−Thecompanysigned39dealsintotalforQ42024,including30expansionsandrenewals,and9newcustomers[4].−Averagerevenueperenterpriseandmid−marketcustomer(ARPC)increasedby2.556.9 million for Q4 2024, compared to no impairment in Q4 2023[36]. Business Development - The company signed 39 deals in total for Q4 2024, including 30 expansions and renewals, and 9 new customers[4]. - Average revenue per enterprise and mid-market customer (ARPC) increased by 2.5% to 625,000 for Q4 2024[4]. - The company has seen increasing demand for AI agents and AI orchestration, indicating a positive trend for future growth[6]. Assets and Liabilities - Total assets decreased to 607.8millioninQ42024from607.8 million in Q4 2024 from 835.5 million in Q4 2023, a reduction of 27%[44]. - Total liabilities decreased to 675.1millioninQ42024from675.1 million in Q4 2024 from 787.4 million in Q4 2023, a decline of 14%[44]. Financing Activities - The company issued 100,000,000in2029convertibleseniornotesduringtheyear,contributingtofinancingactivities[34].−OperatingcashflowfortheyearendedDecember31,2024,wasanetcashusedof100,000,000 in 2029 convertible senior notes during the year, contributing to financing activities[34]. - Operating cash flow for the year ended December 31, 2024, was a net cash used of 15,130,000, an improvement from 19,765,000usedin2023[34].−ThecompanyplanstofocusonITtransformationcosts,whichamountedto19,765,000 used in 2023[34]. - The company plans to focus on IT transformation costs, which amounted to 0.1 million in Q4 2024, as part of its strategy to enhance operational efficiency[36].