LivePerson, Inc. (NASDAQ:LPSN) Q3 2022 Earnings Conference Call November 7, 2022 5:00 PM ET

Company Participants

Chad Cooper - Senior Vice President-Investor Relations

Rob LoCascio - Founder and Chief Executive Officer

John Collins - Chief Financial Officer

Conference Call Participants

Ryan MacDonald - Needham

Mark Schappel - Loop Capital

Siti Panigrahi - Mizuho

Zach Cummins - B. Riley Securities

Ryan MacWilliams - Barclays

Jeff Van Rhee - Craig-Hallum

Operator

Good afternoon ladies and gentlemen. Thank you for standing by. Welcome to LivePerson’s Third Quarter 2022 Earnings Conference Call. My name is Ryan and I will be your conference operator today. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded.

I’d now like to turn the conference call to Mr. Chad Cooper, Senior Vice President, Investor Relations. Please go ahead sir.

Chad Cooper

Thank you, Ryan. Joining me on the call today is Rob LoCascio, LivePerson's Founder and CEO and John Collins, Chief Financial Officer.

Please note that during today's call we will make forward-looking statements which are predictions, projections, and other statements about future results. These statements are based on our current expectations and assumptions as of today, November 07, 2022, and are subject to risks and uncertainties. Actual results made differ materially due to various factors including those described in today's earnings press release and in the comments made during this conference call as well as in 10-Ks, 10-Qs and other reports we file from time to time with the SEC. We assume no obligation to update any forward-looking statements.

Also, during this call we will discuss certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in today's earning express release. Both the press release and the supplemental slides, which include highlights for the quarter are available on the investor relations section of LivePerson's website.

With that, I will turn the call over to Rob. Rob?

Rob LoCascio

Thanks Chad. Thank you for joining LivePerson's third quarter 2022 earnings call. I'd like to start off with an overview of the quarter. In Q3, revenue grew 9.5% year-over-year to $129.6 million and adjusted EBITDA of $9.1 million moved into positive territory. Our non-GAAP gross margins were 74% up 200 basis points year-over-year.

A few weeks ago, we hosted one of our customer events in San Francisco where many of our largest brands and key prospects were in attendance. Our partners and customers at Google, Verizon, Virgin Media, Priceline, and Elements Health gave tendency a private view into AI powered digital customer engagement journeys and strategies they have implemented with LivePerson to date. These events offer us a clear lens into our customers thinking and help inform our product roadmap in the future.