Technology
LivePerson Announces Fourth Quarter 2023 Financial Results
Published
3 years agoon
By
— Total Revenue of $95.5M, above the midpoint of our guidance range —
— Adjusted EBITDA above the midpoint of our guidance range —
NEW YORK, Feb. 28, 2024 /PRNewswire/ — LivePerson, Inc. (NASDAQ: LPSN) (“LivePerson” the “Company”, “we” or “us”), the enterprise leader in digital customer conversations, today announced financial results for the fourth quarter ended December 31, 2023.
Fourth Quarter Highlights
Total revenue was $95.5 million for the fourth quarter of 2023, above the midpoint of our prior guidance and a decrease of 22.1% as compared to the same period last year driven by our exit of lower-margin and non-core business lines.
LivePerson signed 62 deals in total for the fourth quarter, consisting of 16 new and 46 existing customer contracts, including 3 seven-figure deals. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 11.9% for the fourth quarter to $610,000, up from approximately $545,000 for the comparable prior-year period. Beginning with the second quarter of 2022, in order to provide a more consistent and meaningful measure of ARPC, we started calculating this metric using only B2B Core recurring revenue, which is consistent with the revenue base for calculating Net Revenue Retention.
“This is a critical time in LivePerson’s history, and I’m honored to be leading the company through its transformation by driving results through improved commercial and operational execution,” said CEO John Sabino. “There is a multi-billion dollar market opportunity ahead of us as we execute on our go-to-market strategy, lean into our product’s integration and orchestration capabilities, and strengthen our capital structure. I am excited to share that these operational initiatives are already underway, and I am confident they will place LivePerson on a path to profitable growth.”
“I’m excited to partner with John on the path ahead and I share the board’s confidence in his leadership,” said CFO and COO John Collins. “The rapid growth in our market, coupled with repeated validation of our product by customers, investors, and third party research, makes it clear that LivePerson has a compelling growth opportunity following the rebuild of its sales and customer success motion.”
Customer Expansion
During the fourth quarter, the Company signed 62 total deals for the quarter, including 3 seven-figure deals, 46 expansion & renewals and 16 new logo deals. New logo deals included:
A globally recognized designer;A major telecom services provider in Southeast Asia, through a partnership; andA leading personal loan provider, through a partnership.
The Company also expanded/renewed business with:
Several financial services companies including one of the world’s largest banks, a large U.K. financial services provider, a growing U.S. credit card issuer, a major U.S. credit union, and a large Australian retail bank; as well asA leading U.K. connectivity provider;A large U.S. luxury jewelry company; andA leading technology company.
Net Loss and Adjusted Operating Loss
Net loss for the fourth quarter of 2023 was $40.5 million or $0.48 per share, as compared to a net loss of $41.7 million or $0.55 per share for the fourth quarter of 2022. Adjusted operating loss, a non-GAAP financial metric, for the fourth quarter of 2023 was $4.0 million, as compared to a $16.1 million adjusted operating loss for the fourth quarter of 2022. Adjusted operating loss excludes amortization of purchased intangibles and finance leases, stock-based compensation expense, other litigation, consulting and other employee costs, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, gain on divestiture, leadership transition costs, contingent earn-out adjustments, IT transformation costs, acquisition and divestiture costs, interest (income) expense, and other (income) expense.
Adjusted EBITDA
Adjusted EBITDA, a non-GAAP financial measure, for the fourth quarter of 2023 was $3.7 million as compared to an adjusted EBITDA loss of $5.2 million for the fourth quarter of 2022. Adjusted EBITDA excludes amortization of purchased intangibles and finance leases, stock-based compensation expense, depreciation, other litigation, consulting and other employee costs, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, IT transformation costs, gain on divestiture, contingent earn-out adjustments, provision for income taxes, acquisition and divestiture costs, interest (income) expense, and other (income) expense.
A reconciliation of non-GAAP financial measures to GAAP measures has been provided in the financial tables included in this press release. An explanation of the non-GAAP financial measures and how they are calculated is included below under the heading “Non-GAAP Financial Measures.”
Cash and Cash Equivalents
The Company’s cash balance was $210.8 million at December 31, 2023, as compared to $391.8 million at December 31, 2022.
Financial Expectations
The following forward-looking measures and the underlying assumptions involve significant known and unknown risks and uncertainties, and actual results may vary materially from these forward-looking measures. The Company does not present a quantitative reconciliation of the forward-looking non-GAAP financial measures, adjusted EBITDA and adjusted EBITDA margin to the most directly comparable GAAP financial measures (or otherwise present such forward-looking GAAP measures) because it is impractical to forecast certain items without unreasonable efforts due to the uncertainty and inherent difficulty of predicting, within a reasonable range, the occurrence and financial impact of and the periods in which such items may be recognized. In particular, these non-GAAP financial measures exclude certain items, including amortization of purchased intangibles and finance leases, stock-based compensation expense, depreciation, other litigation, consulting and other employee costs, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, gain on divestiture, contingent earn-out adjustments, provision for income taxes, IT transformation costs, acquisition and divestiture costs, interest (income) expense, and other (income) expense, which depend on future events that the Company is unable to predict. Depending on the size of these items, they could have a significant impact on the Company’s GAAP financial results.
For the full year 2024, we expect total revenue to range from $300M – $315M or (24)% to (20)% year over year (excluding $7.2M of Kasamba revenue generated in Q1 2023). In addition, we expect B2B Core recurring revenue to represent 92% of total revenue. For the full year 2024, we expect adjusted EBITDA to range from $15M to $26M, or a margin of 5.0% to 8.3%.
For the first quarter, we expect total revenue to range from $79M – $83M or (21)% to (17)% year over year (excluding $7.2M of Kasamba revenue generated in Q1 2023). We expect B2B Core recurring revenue to represent 92% of total revenue. For the first quarter, we expect adjusted EBITDA to range from $(2) to $2M, or a margin of (2.5)% to 2.4%.
For the tables below, year-over-year growth rates are on a like-for-like basis (excluding $7.2M of Kasamba contribution from Q1 2023).
First Quarter 2024
Guidance
Revenue (in millions)
$79 – $83
Revenue growth (year-over-year)
(21)% – (17)%
Adjusted EBITDA (in millions)
$(2) – $2
Adjusted EBITDA margin (%)
(2.5)% – 2.4%
Full Year 2024
Guidance
Revenue (in millions)
$300 – $315
Revenue growth (year-over-year)
(24)% – (20)%
Adjusted EBITDA (in millions)
$15 – $26
Adjusted EBITDA margin (%)
5.0% – 8.3%
Disaggregated Revenue
Included in the accompanying financial results are revenues disaggregated by revenue source, as follows:
Three Months Ended
December 31,
Year Ended
December 31,
2023
2022
2023
2022
(In thousands)
Revenue:
Hosted services (1)
$ 78,600
$ 94,085
$ 332,971
$ 412,467
Professional services
16,868
28,392
69,012
102,333
Total revenue
$ 95,468
$ 122,477
$ 401,983
$ 514,800
(1)
On March 20, 2023, the Company completed the sale of Kasamba and therefore ceased recognizing revenue related to Kasamba effective on the transaction close date. Further, this sale eliminated the entire Consumer segment, as a result of which revenue is presented within a single consolidated segment. Hosted services includes $7.1 million for the year ended December 31, 2023 and $9.4 million and $37.1 million for the three and twelve months ended December 31, 2022 respectively, relating to Kasamba.
Stock-Based Compensation
Included in the accompanying financial results are expenses related to stock-based compensation, as follows:
Three Months Ended
December 31,
Year Ended
December 31,
2023
2022
2023
2022
(In thousands)
Cost of revenue
$ 577
$ 777
$ 1,456
$ 9,933
Sales and marketing
2,925
963
10,354
19,575
General and administrative
364
4,987
(5,706)
40,690
Product development
3,508
2,588
5,750
39,440
Total
$ 7,374
$ 9,315
$ 11,854
$ 109,638
Amortization of Purchased Intangibles and Finance Leases
Included in the accompanying financial results are expenses related to the amortization of purchased intangibles and finance leases, as follows:
Three Months Ended
December 31,
Year Ended
December 31,
2023
2022
2023
2022
(In thousands)
Cost of revenue
$ 4,966
$ 4,646
$ 18,691
$ 18,434
Amortization of purchased intangibles
861
936
3,505
3,678
Total
$ 5,827
$ 5,582
$ 22,196
$ 22,112
Supplemental Fourth Quarter 2023 Presentation
LivePerson will post a presentation providing supplemental information for the fourth quarter 2023 on the investor relations section of the Company’s web site at www.ir.liveperson.com.
Earnings Teleconference Information
The Company will discuss its fourth quarter of 2023 financial results during a teleconference today, February 28, 2024, at 5:00 PM ET. To participate via telephone, callers should dial in five to ten minutes prior to the 5:00 p.m. Eastern start time; domestic callers (U.S. and Canada) should dial 1-877-407-0784, while international callers should dial 1-201-689-8560, and both should reference the conference ID “13743243.”
The conference call will also be simulcast live on the Internet and can be accessed by logging onto the investor relations section of the Company’s web site at www.ir.liveperson.com.
If you are unable to participate in the live call, the teleconference will be available for replay approximately two hours after the call. To access the replay, please call 1-844-512-2921 (U.S. and Canada) or 1-412-317-6671 (international). Please reference the conference ID “13743243.” A replay will also be available on the investor relations section of the Company’s web site at www.ir.liveperson.com.
About LivePerson, Inc.
LivePerson (NASDAQ: LPSN) is the enterprise leader in digital customer conversations. The world’s leading brands — including HSBC, Chipotle, and Virgin Media — use our award-winning Conversational Cloud platform to connect with millions of consumers. We power nearly a billion conversational interactions every month, providing a uniquely rich data set and AI-powered solutions to accelerate contact center transformation, supercharge agent productivity, and deliver more personalized customer experiences. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our AI, please visit liveperson.com.
Non-GAAP Financial Measures
Investors are cautioned that the following financial measures used in this press release and on our earnings call are “non-GAAP financial measures”: (i) adjusted EBITDA, or loss before provision for income taxes, interest (income) expense, other (income) expense, depreciation, amortization of purchased intangibles and finance leases, stock-based compensation expense, contingent earn-out adjustments, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, IT transformation costs, gain on divestiture, acquisition and divestiture costs and other litigation, consulting and other employee costs; (ii) adjusted EBITDA margin, or loss before provision for income taxes, interest (income) expense, other (income) expense, depreciation, amortization of purchased intangibles and finance leases, stock-based compensation expense, contingent earn-out adjustments, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, IT transformation costs, gain on divestiture, acquisition and divestiture costs and other litigation, consulting and other employee costs divided by revenue; (iii) adjusted operating loss, or operating loss excluding interest (income) expense, other (income) expense, amortization of purchased intangibles and finance leases, stock-based compensation expense, contingent earn-out adjustments, restructuring costs, impairment of goodwill, impairment of intangibles and other assets, leadership transition costs, IT transformation costs, gain on divestiture, acquisition and divestiture costs, and other litigation, consulting and other employee costs and (iv) free cash flow, or net cash provided by operating activities less purchases of property and equipment, including capitalized software.
Non-GAAP financial information should not be construed as an alternative to any other measures of performance determined in accordance with GAAP, or as an indicator of our operating performance, liquidity or cash flows generated by operating, investing and financing activities as there may be significant factors or trends that it fails to address. We present non-GAAP financial information because we believe that it is helpful to some investors as one measure of our operations.
Forward-Looking Statements
Statements in this press release and on our earnings call regarding LivePerson that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements, including but not limited to financial guidance, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. It is routine for our internal projections and expectations to change as the quarter and year progress, and therefore it should be clearly understood that the internal projections and beliefs upon which we base our expectations may change. Although these expectations may change, we are under no obligation to inform you if they do. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: strain on our personnel resources and infrastructure from supporting our customer base; our ability to retain existing customers and cause them to purchase additional services and to attract new customers; our ability to retain key personnel, attract new personnel and to manage staff attrition; our ability to successfully integrate past or potential future acquisitions; our ability to refinance our substantial indebtedness before it becomes due or to secure necessary additional financing on commercially reasonable terms, or at all; lengthy sales cycles; delays in our implementation cycles; payment-related risks; potential fluctuations in our quarterly revenue and operating results; limitations on the effectiveness of our controls; non-payment or late payment of amounts due to us from a significant number of customers; volatility in the capital markets; recognition of revenue from subscriptions; customer retention and engagement; our ability to develop and maintain successful relationships with partners, service partners, social media and other third-party consumer messaging platforms and endpoints; our ability to effectively operate on mobile devices; the highly competitive markets in which we operate; general economic conditions; failures or security breaches in our services, those of our third party service providers, or in the websites of our customers; regulation or possible misappropriation of personal information belonging to our customers’ Internet users; US and international laws and regulations regarding privacy data protection and AI and increased public scrutiny of privacy,security and AI issues that could result in increased government regulation and other legal obligations; ongoing litigation and legal matters; new regulatory or other legal requirements that could materially impact our business; governmental export controls and economic sanctions; industry-specific regulation and unfavorable industry-specific laws, regulations or interpretive positions; future regulation of the Internet or mobile devices; technology-related defects that could disrupt the LivePerson services; our ability to protect our intellectual property rights or potential infringement of the intellectual property rights of third parties; the use of AI in our product offerings or by our vendors; the presence of, and difficulty in correcting, errors, failures or “bugs” in our products; our ability to license necessary third party software for use in our products and services, and our ability to successfully integrate third party software; potential adverse impact due to foreign currency and cryptocurrency exchange rate fluctuations; additional regulatory requirements, tax liabilities, currency exchange rate fluctuations and other risks if and as we expand; risks related to our operations in Israel; potential failure to meeting service level commitments to certain customers; legal liability and/or negative publicity for the services provided to consumers via our technology platforms; technological or other defects that could disrupt or negatively impact our services; our ability to maintain our reputation; changes in accounting principles generally accepted in the United States; natural catastrophic events and interruption to our business by man-made problems; potential limitations on our ability to use net operating losses to offset future taxable income; and risks related to our common stock being traded on more than one securities exchange. This list is intended to identify only certain of the principal factors that could cause actual results to differ from those discussed in the forward-looking statements. Readers are referred to the Company’s reports and documents filed from time to time by us with the Securities and Exchange Commission for a discussion of these and other important factors that could cause actual results to differ from those discussed in forward-looking statements.
LivePerson, Inc.
Consolidated Statements of Operations
(In Thousands, Except Share and Per Share Data)
Unaudited
Three Months Ended
December 31,
Year Ended
December 31,
2023
2022
2023
2022
Revenue
$ 95,468
$ 122,477
$ 401,983
$ 514,800
Costs, expenses and other:
Cost of revenue
39,818
46,402
142,823
184,699
Sales and marketing
32,365
46,464
125,677
214,027
General and administrative
21,554
28,473
91,619
120,625
Product development
29,859
37,120
124,792
193,688
Impairment of goodwill
—
—
11,895
—
Impairment of intangibles and other assets
5,015
—
7,974
—
Restructuring costs
6,665
2,018
22,664
19,967
Gain on divestiture
—
—
(17,591)
—
Amortization of purchased intangible assets
861
936
3,505
3,678
Total costs, expenses and other
136,137
161,413
513,358
736,684
Loss from operations
(40,669)
(38,936)
(111,375)
(221,884)
Other income (expense), net:
Interest income (expense), net
1,664
1,361
4,669
(352)
Other income (expense), net
1,043
(3,692)
10,434
(1,784)
Total other income (expense), net
2,707
(2,331)
15,103
(2,136)
Loss before provision for income taxes
(37,962)
(41,267)
(96,272)
(224,020)
Provision for income taxes
2,563
457
4,163
1,727
Net loss
$ (40,525)
$ (41,724)
$ (100,435)
$ (225,747)
Net loss per share of common stock:
Basic
$ (0.48)
$ (0.55)
$ (1.28)
$ (3.03)
Diluted
$ (0.48)
$ (0.55)
$ (1.28)
$ (3.03)
Weighted-average shares used to compute net loss per share:
Basic
83,610,995
75,538,133
78,593,274
74,509,404
Diluted
83,610,995
75,538,133
78,593,274
74,509,404
LivePerson, Inc.
Consolidated Statements of Cash Flows
(In Thousands)
Unaudited
Year Ended December 31,
2023
2022
OPERATING ACTIVITIES:
Net loss
$ (100,435)
$ (225,747)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Stock-based compensation expense
11,854
109,638
Depreciation
32,557
32,284
Amortization of purchased intangible assets and finance leases
22,196
22,112
Amortization of debt issuance costs
4,043
3,778
Accretion of debt discount on convertible senior notes
—
—
Impairment of goodwill
11,895
—
Impairment of intangible and other assets
7,974
—
Change in fair value of contingent consideration
4,629
(8,516)
Gain on repurchase of convertible notes
(7,200)
—
Allowance for credit losses
3,319
5,644
Gain on divestiture
(17,591)
—
Gain on settlement of leases
—
(242)
Deferred income taxes
1,046
(1,161)
Equity loss in joint venture
2,264
—
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable
1,457
(38)
Prepaid expenses and other current assets
(3,411)
(5,979)
Contract acquisition costs
4,992
(6,370)
Other assets
1,361
(153)
Accounts payable
(13,570)
12,050
Accrued expenses and other current liabilities
24,343
7,485
Deferred revenue
(3,169)
(12,341)
Operating lease liabilities
(523)
(2,638)
Other liabilities
(7,796)
8,093
Net cash used in operating activities
(19,765)
(62,101)
INVESTING ACTIVITIES:
Purchases of property and equipment, including capitalized software
(28,657)
(48,486)
Proceeds from divestiture
13,819
—
Payments for acquisitions, net of cash acquired
—
(3,430)
Purchases of intangible assets
(4,004)
(2,680)
Investment in joint venture
—
(2,264)
Net cash used in investing activities
(18,842)
(56,860)
FINANCING ACTIVITIES:
Principal payments for financing leases
(3,330)
(3,734)
Repurchase of common stock
—
(221)
Proceeds from issuance of common stock in connection with the exercise of options and ESPP
1,890
5,573
Payment for repurchase of convertible senior notes
(149,702)
—
Net cash (used in) provided by financing activities
(151,142)
1,618
Effect of foreign exchange rate changes on cash and cash equivalents
465
(3,980)
Net decrease in cash, cash equivalents, and restricted cash
(189,284)
(121,323)
Cash classified within current assets held for sale
10,011
(10,011)
Cash, cash equivalents, and restricted cash – beginning of year
392,198
523,532
Cash, cash equivalents, and restricted cash – end of year
$ 212,925
$ 392,198
LivePerson, Inc.
Reconciliation of Non-GAAP Financial Information to GAAP
(In Thousands)
Unaudited
Three Months Ended
December 31,
Year Ended
December 31,
2023
2022
2023
2022
Reconciliation of Adjusted EBITDA (Loss):
GAAP net loss
$ (40,525)
$ (41,724)
$ (100,435)
$ (225,747)
Add/(less):
Depreciation
7,705
10,870
32,557
32,284
Other litigation, consulting and other employee costs (1)
5,553
4,569
32,266
17,212
Restructuring costs (2)
6,665
2,018
22,664
19,967
Amortization of purchased intangibles and finance leases
5,827
5,582
22,196
22,112
Impairment of goodwill
—
—
11,895
—
Stock-based compensation expense (3)
8,525
9,315
10,187
109,638
Leadership transition costs
1,418
—
8,384
—
Impairment of intangibles and other assets
5,015
—
7,974
—
Contingent earn-out adjustments
(812)
52
4,629
(8,516)
Provision for income taxes
2,563
457
4,163
1,727
IT transformation costs (4)
3,576
—
3,576
—
Acquisition and divestiture costs
96
1,368
3,131
4,492
Interest (income) expense, net
(1,664)
(1,361)
(4,669)
352
Gain on divestiture
—
—
(17,591)
—
Other (income) expense, net (5)
(231)
3,640
(15,063)
10,300
Adjusted EBITDA (loss)
$ 3,711
$ (5,214)
$ 25,864
$ (16,179)
Reconciliation of Adjusted Operating Loss
Loss before provision for income taxes
(37,962)
(41,267)
(96,272)
(224,020)
Add/(less):
Other litigation, consulting and other employee costs (1)
5,553
4,569
32,266
17,212
Restructuring costs (2)
6,665
2,018
22,664
19,967
Amortization of purchased intangibles and finance leases
5,827
5,582
22,196
22,112
Impairment of goodwill
—
—
11,895
—
Stock-based compensation expense (3)
8,525
9,315
10,187
109,638
Leadership transition costs
1,418
—
8,384
—
Impairment of intangibles and other assets
5,015
—
7,974
—
Contingent earn-out adjustments
(812)
52
4,629
(8,516)
IT transformation costs (4)
3,576
—
3,576
—
Acquisition and divestiture costs
96
1,368
3,131
4,492
Interest (income) expense, net
(1,664)
(1,361)
(4,669)
352
Gain on divestiture
—
—
(17,591)
—
Other (income) expense, net (5)
(231)
3,640
(15,063)
10,300
Adjusted operating loss
$ (3,994)
$ (16,084)
$ (6,693)
$ (48,463)
(1)
Includes litigation costs of $4.4 million and consulting fees and related costs of $1.2 million for the three months ended December 31, 2023. Includes litigation costs of $3.6 million, employee benefit costs of $0.5 million and consulting costs of $0.5 million for the three months ended December 31, 2022. Includes litigation costs of $28.0 million, consulting fees and related costs of $4.4 million, offset by sales tax liability reversals of $0.1 million for the year ended December 31, 2023. Includes litigation costs of $11.0 million, employee benefit costs of $1.6 million, consulting fees and related costs of $2.2 million, employee-related costs of $2.1 million and reserve for sales and use tax liability of $0.3 million for the year ended December 31, 2022.
(2)
Includes IT contract termination cost of $5.7 million and severance costs and other compensation related costs of $0.9 million for the three months ended December 31, 2023. Includes severance costs and other compensation related costs of $1.9 million and lease restructuring costs of $0.1 million for the three months ended December 31, 2022. Includes severance costs and other compensation related costs of $16.9 million and IT contract termination costs of $5.7 million for the year ended December 31, 2023. Includes severance costs and other compensation related costs of $19.5 million and lease restructuring costs of $0.4 million for the year ended December 31, 2022.
(3)
Excludes $1.7 million of accelerated stock-based compensation for the three months ended and year ended December 31, 2023 in connection with the CEO departure, as these costs are presented in leadership transition costs.
(4)
Includes IT infrastructure realignment costs related to consolidating and migrating data centers to the cloud. We expect these costs to continue in 2024.
(5)
Includes $10.0 million of other income related to a litigation settlement, a $7.2 million gain related to convertible senior notes repurchases and losses related to the Company’s equity method investment during the year ended December 31, 2023. The remaining amount of other (income) expense, net fluctuation is attributable to currency rate fluctuations for the three months and year ended December 31, 2023. Includes $3.3 million of losses related to the Company’s equity method investment for the three months ended December 31, 2022. Includes $0.2 million of other income related to the settlement of leases, offset by $7.7 million of losses related to the Company’s equity method investment for the year ended December 31, 2022.
Three Months Ended
December 31,
Year Ended
December 31,
2023
2022
2023
2022
Calculation of Free Cash Flow:
Net cash used in operating activities
$ 4,537
$ 17,370
$ (19,765)
$ (62,101)
Purchases of property and equipment, including capitalized software
(6,220)
(13,274)
(28,657)
(48,486)
Total Free Cash Flow
$ (1,683)
$ 4,096
$ (48,422)
$ (110,587)
LivePerson, Inc.
Consolidated Balance Sheets
(In Thousands)
Unaudited
December 31,
2023
December 31,
2022
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$ 210,782
$ 391,781
Restricted cash
2,143
417
Accounts receivable, net
81,802
86,537
Prepaid expenses and other current assets
26,981
23,747
Assets held for sale
—
30,984
Total current assets
321,708
533,466
Operating lease right-of-use asset
4,135
1,604
Property and equipment, net
119,325
126,499
Contract acquisition costs
37,354
43,804
Intangible assets, net
61,625
78,103
Goodwill
285,631
296,214
Deferred tax assets, net
4,527
4,423
Investment in joint venture
—
2,264
Other assets
1,208
2,563
Total assets
$ 835,513
$ 1,088,940
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable
$ 13,555
$ 25,303
Accrued expenses and other current liabilities
97,024
129,244
Deferred revenue
81,858
84,494
Convertible senior notes
72,393
—
Operating lease liabilities
2,719
2,160
Liabilities associated with assets held for sale
—
10,357
Total current liabilities
267,549
251,558
Convertible senior note, net of current portion
511,565
737,423
Operating lease liabilities, net of current portion
2,173
682
Deferred tax liabilities
2,930
2,550
Other liabilities
3,158
28,639
Total liabilities
787,375
1,020,852
Total stockholders’ equity
48,138
68,088
Total liabilities and stockholders’ equity
$ 835,513
$ 1,088,940
Investor Relations contact
ir-lp@liveperson.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/liveperson-announces-fourth-quarter-2023-financial-results-302074769.html
SOURCE LivePerson
You may like
Technology
GeoComm Expands Indoor Mapping Delivery Through Partnership with Map I.T.
Published
52 minutes agoon
September 4, 2026By
Partnership gives organizations a more scalable path to turn existing building records into usable indoor GIS data.
ST. CLOUD, Minn. and CHARLESTON, S.C., Sept. 4, 2026 /PRNewswire/ — GeoComm, a leader in public safety grade location intelligence, and Map I.T. today announced a partnership designed to help organizations more efficiently collect existing conditions and transform floorplans and building records into structured, operational indoor GIS data.
Organizations often have valuable building information locked in paper floorplans, scanned images, PDFs, CAD files, and other formats that are difficult to use within modern mapping, safety, and operational systems. Converting those materials or creating new floor plans into usable indoor GIS data can require multiple stages of preparation, conversion, quality review, and coordination.
Through the partnership, GeoComm and Map I.T. combine complementary strengths to give customers a coordinated path from existing building records to operational indoor maps. Map I.T. contributes specialized experience in LiDAR laser scanning and reality capture, floor plan and 3D model creation and preparation, and GIS data development, while GeoComm brings public safety grade location intelligence expertise, data quality standards, and operational context. As part of GeoComm’s broader services ecosystem strategy, the companies can align the right expertise and resources with each engagement based on the customer’s needs, providing a flexible approach that is not limited to a single delivery model.
“No single delivery model fits every indoor mapping project,” said Nate Ekdahl, Director of Services Strategy, GeoComm. “Our strategy is to combine GeoComm’s expertise with the right partner capabilities for each engagement, giving customers more flexibility to address projects of different sizes, source materials, and timelines while maintaining a consistent focus on quality and operational outcomes.”
By coordinating capabilities across the project lifecycle, GeoComm and Map I.T. can help customers reduce fragmented handoffs, address larger or more complex initiatives, and maintain consistent expectations around data quality and operational usability.
Through the partnership, customers can:
Create new floor plans and map critical assetsTransform paper, PDF, CAD, and other building records into structured indoor GIS data.Scale indoor mapping initiatives across multiple buildings, campuses, and sites.Reduce fragmented handoffs across preparation, conversion, and GIS development activities.Align delivery resources with project requirements, timelines, and scale.Establish usable indoor maps that support safety and operational workflows.
“By partnering with GeoComm, Map I.T. is combining our reality capture and mapping expertise with their specialized public safety knowledge to provide clients with a seamless project experience and industry-leading deliverables,” said Zachary Jaffe, Founder and CEO, Map I.T. “We look forward to delivering these enhanced capabilities through our collaborative approach.”
The partnership strengthens GeoComm’s growing services ecosystem and provides organizations with a more flexible and scalable way to address indoor mapping needs — bringing together the capabilities required to turn existing building information into trusted location intelligence that can support real-world operations.
About GeoComm
GeoComm provides public safety grade location data and maps that technology partners embed to bring operational context and trusted location intelligence into critical workflows. Through indoor and outdoor mapping, flexible integrations, and actively maintained data, GeoComm helps partners strengthen their platforms with better operational context and shared situational awareness. Together, these capabilities help partners deliver the shared operational picture agencies, organizations, and responders’ need, supporting faster, more informed decisions across critical operations. Learn more at geocomm.com
About Map I.T.
Map I.T. is a geospatial and GIS consulting firm specializing in indoor and outdoor mapping solutions for public safety, emergency response, and facility operations. We leverage LiDAR laser scanning, 360° panoramic imagery, and other reality-capture technologies to create accurate digital representations of the built environment. We transform field-collected data into detailed floor plans, 3D models, indoor maps, and critical asset inventories, then deploy that information through GIS to make it accessible and actionable. Our expertise lies in collecting, compiling, packaging, and delivering spatial data to the people who need it most, when time is of the essence. Learn more at map-it-llc.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/geocomm-expands-indoor-mapping-delivery-through-partnership-with-map-it-302869699.html
SOURCE GeoComm, Inc
Technology
Party Expert Myla Tebbutt Explains Why Inflatable Obstacle Courses Are Great for Teens in HelloNation
Published
52 minutes agoon
September 4, 2026By
The article explains how inflatable obstacle courses combine active play, social interaction, and structured design to keep teens engaged at events.
DALLAS, Sept. 4, 2026 /PRNewswire/ — Why are inflatable obstacle courses popular for teen events in Dallas? That question is answered in a HelloNation article featuring insights from Party Expert Myla Tebbutt of Bounce N More in Dallas, TX. The feature explores how inflatable obstacle courses combine active engagement, safe design, and social interaction to create exciting experiences that appeal to older children and teenagers. Tebbutt explains that when properly supervised and installed, these inflatables balance challenge and fun in a structured way that keeps teens moving and connected throughout the event.
The HelloNation article begins by noting that inflatable obstacle courses add more variety and energy to gatherings than traditional bounce houses. Their layouts encourage climbing, crawling, sliding, and racing through a sequence of challenges that stimulate both coordination and endurance. Party Expert Myla Tebbutt explains that this form of structured play keeps teens engaged longer because the activity changes continuously. Each section requires different movements, preventing the monotony that can occur with single-feature inflatables. Teens enjoy repeating the course, competing for time, and cheering for friends, which naturally builds enthusiasm and friendly competition.
Social interaction is a major factor in the success of inflatable obstacle courses at Dallas teen events. The courses allow participants to race side-by-side, encouraging teamwork and lighthearted rivalry. Spectators can easily watch the progress of their friends, creating a lively, supportive environment. According to the HelloNation feature, these setups foster both group participation and peer encouragement, helping teens stay active while maintaining the social connection that defines many youth gatherings. Obstacle courses provide movement and conversation in equal measure, promoting community and engagement without pressure.
Flexibility also makes inflatable obstacle courses valuable for event planning. While they appeal primarily to teens, their design accommodates a range of ages and ability levels. Older children can join in without disrupting the flow, and the built-in structure helps organizers manage lines and participation safely. Limiting the number of participants on the course at a time prevents overcrowding, maintaining a steady pace that works well for both small and large groups. Event planners across Dallas appreciate how this natural pacing supports order and keeps energy levels balanced.
The article highlights that safety remains central to inflatable obstacle course design. Cushioned surfaces reduce impact during climbing and sliding, while enclosed lanes guide participants along a safe, predictable path.
Physical challenge is another reason inflatable obstacle courses stand out at Dallas teen events. The layout offers difficulty without risk, encouraging teens to test their balance and coordination. Short climbing walls, squeeze tunnels, and controlled slides all contribute to a sense of progress and accomplishment. Tebbutt explains that these challenges provide just enough resistance to keep participants engaged while maintaining an atmosphere of fun. Each successful run through the course gives teens a sense of confidence and enjoyment, reinforcing the appeal of active engagement.
Indoor and outdoor adaptability adds further value. Inflatable obstacle courses can fit inside gyms, auditoriums, and recreational spaces during cooler or rainy seasons. During warmer months, they transition easily to outdoor parks, fields, and school grounds. Installation crews in Dallas review ceiling height, floor type, and available power to confirm compatibility with each venue. This flexibility allows event organizers to schedule activities year-round without worrying about weather disruptions.
Another advantage discussed in the HelloNation article is how obstacle courses help manage energy at large gatherings. Teens often bring high levels of enthusiasm that can become difficult to channel during long events. The structured design of an obstacle course provides a focused activity that transforms that energy into positive movement. After completing a run, participants leave smiling, comparing times, and encouraging others. The result is an upbeat environment that keeps everyone engaged while minimizing downtime or restlessness.
Durability also contributes to the reliability of inflatable obstacle courses for Dallas teen events. Units built for older participants feature reinforced seams, thick vinyl materials, and heavier stitching to support faster movement and higher weight capacity. Professional crews inspect each unit before delivery to ensure all surfaces remain firm and responsive. This attention to equipment maintenance supports consistent performance and helps teens feel secure as they move through each obstacle.
The HelloNation feature concludes that inflatable obstacle courses deliver an ideal combination of structured play and social engagement. They challenge teens physically while promoting teamwork, laughter, and community. With professional supervision, safe design, and thoughtful event planning, these inflatables provide dependable entertainment that fits a wide range of Dallas gatherings. Whether at school events, church functions, or graduation celebrations, obstacle courses offer a safe, energetic centerpiece that keeps teens active and connected.
Why Inflatable Obstacle Courses Are Great for Teens features insights from Myla Tebbutt, Party Expert of Dallas, TX, in HelloNation.
About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.
View original content to download multimedia:https://www.prnewswire.com/news-releases/party-expert-myla-tebbutt-explains-why-inflatable-obstacle-courses-are-great-for-teens-in-hellonation-302870050.html
SOURCE HelloNation
Technology
xTool Brings “The Human Age of Making” to IFA 2026, Empowering a New Generation of Creators
Published
52 minutes agoon
September 4, 2026By
BERLIN, Sept. 4, 2026 /PRNewswire/ — At IFA 2026, xTool will present the European debut of its next-generation xTool X1 professional laser, alongside the O1 Omni Printer and M2 Colour Craft Laser, two new products launched in Q2, demonstrating how digital fabrication is evolving from a specialist technology into a creative tool for a much broader generation of makers.
Building on the momentum of its Berlin brand conference, xTool will use IFA 2026 to put the spotlight not simply on what machines can do, but on what people can create with them.
At the heart of the xTool’s vision is a simple belief: the next era of making will be defined by human creativity, amplified by technology that is increasingly accessible, intuitive and capable.
As IFA 2026 explores “The Future Is Now”, xTool will demonstrate how advances in hardware, software and connected creative ecosystems are lowering the barriers between imagination and physical creation.
From professional-grade capability to everyday creativity
For years, advanced digital fabrication technologies have largely been associated with professional makers, specialist workshops and industrial environments. xTool is challenging that model by bringing increasingly powerful capabilities into consumer and prosumer spaces.
The company’s approach is built around three principles:
Accessibility, lowering the technical and financial barriers to advanced creation. Intuitiveness, making complex processes easier to understand and use. Expressiveness, giving people greater freedom to transform ideas, designs and imagination into physical creations.
This philosophy is reflected across xTool’s expanding portfolio, which combines hardware, software, AI-powered creation tools and a connected content ecosystem.
xTool X1 laser makes its first European debut at IFA 2026
One of the key highlights at IFA 2026 will be the European debut of the xTool X1, xTool’s next-generation all-in-one laser platform.
Designed around the philosophy “All the Best Lasers, Built into One,” the X1 addresses one of the long-standing limitations of digital fabrication: the fragmentation of different laser technologies across separate machines.
Its new architecture combines high-speed engraving, large-format processing and expandable multi-laser capabilities within a single platform.
At its core is Hybrid Motion™, which combines gantry motion with high-speed galvo scanning to bring speed and scale together in one system. Laser Swap™ further expands the platform across different laser sources and materials, creating an architecture designed to evolve alongside users’ creative ambitions.
The X1 represents xTool’s vision for the future of desktop fabrication: moving away from fragmented, single-purpose machines towards more integrated and scalable creation platforms.
IFA 2026 visitors will be among the first in Europe to see the xTool X1 in person. Further product details will be revealed at a later stage.
xTool O1 UV printer: Breaking down the boundaries between materials
Another key highlight at IFA will be the xTool Omni 1 UV Printer, whose launch reflects growing demand for more versatile digital creation tools.
The O1 Omni generated more than $20 million in first-day revenue, with more than 6,000 units sold, demonstrating strong early demand for a new generation of integrated fabrication tools.
By combining UV, DTG (direct-to-garment), DTF (direct-to-film) and UV DTF technologies within a single desktop ecosystem, the O1 Omni breaks down the traditional divide between rigid-material customisation and textile printing.
For creators, this means fewer boundaries between an idea, a material and the final object they want to make.
M2 Colour Craft Laser: Making advanced creation more accessible
Alongside its latest innovations, xTool will showcase the M2 Colour Craft Laser, designed to make advanced laser technology accessible to a broader generation of creators.
Combining colour printing, laser cutting and engraving in one device, the M2 supports more than 300 materials and a wide range of applications, from personalised crafts and home projects to creative side businesses.
Its integrated CMYK printing, dual cameras and ACS™ (Auto-Creation System) simplify the creative process, while its enclosed Class 1 design makes it suitable for home studios.
The M2 reflects a broader ambition at xTool: bringing digital fabrication into the mainstream of creative tools and giving more people the ability to move from an idea to something they can hold in their hands.
The future of making is human
As technology continues to reshape the creative landscape, xTool believes the most important evolution is not technological alone.
It is human.
The Human Age of Making is about giving more people the freedom and capability to create, personalise, experiment and bring ideas into the physical world.
About xTool
xTool is a global premium consumer-tech brand dedicated to empowering digital-to-physical creation. xTool provides a comprehensive ecosystem of laser-based personal creative tools, material printers, user-friendly software, accessories and consumables.
Through these innovations, xTool empowers people to turn imagination into meaningful creations that deliver emotional fulfilment, commercial opportunity and personal achievement.
Discover more at xTool.com.
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/xtool-brings-the-human-age-of-making-to-ifa-2026-empowering-a-new-generation-of-creators-302870054.html
GeoComm Expands Indoor Mapping Delivery Through Partnership with Map I.T.
Party Expert Myla Tebbutt Explains Why Inflatable Obstacle Courses Are Great for Teens in HelloNation
xTool Brings “The Human Age of Making” to IFA 2026, Empowering a New Generation of Creators
Send Rakhi to UK swiftly with UK Gifts Portal
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
New Gooseneck Omni Antennas Offer Enhanced Signals in a Durable Package
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Technology5 days agoGlobal Times: How Chinese NEVs gain ground in global markets, providing greener, smarter mobility
-
Technology5 days agoNASA’s Roman Space Telescope launches with BAE Systems-built scientific instruments
-
Technology5 days agoMy Employment Options (MEO) Empowers SSI/SSDI Beneficiaries to Achieve Career Independence Through Expert Ticket to Work Services
-
Coin Market5 days agoSaylor signals Strategy is ‘Back’ to Bitcoin buying
-
Technology4 days agoMOEA’s DoIT Showcases 31 Innovative Technologies at Meet Greater South
-
Technology2 days agoOnymos and Vanta Diagnostics Collaborate to Scale Intelligent Lab Intake
-
Near Videos5 days agoCrypto shouldn’t feel like 100 different apps.
-
Technology2 days agoOMVP Backs Europe’s Sovereign Space Future as American Lead on €50M+ HyImpulse Financing
