— Reported full year 2021 revenue growth of 28% to $469.6 million, and Q4 revenue of $123.8 million grew 21% year-over-year —
LivePerson, Inc. (NASDAQ: LPSN) (“LivePerson” or the “Company”), a global leader in conversational AI, today announced financial results for the fourth quarter ended December 31, 2021.
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Fourth Quarter Highlights
Total revenue was $123.8 million for the fourth quarter of 2021, an increase of 21% as compared to the same period last year. Within total revenue, business operations revenue for the fourth quarter of 2021 increased 21% year over year to $114.1 million, and revenue from consumer operations increased 21% year over year to $9.8 million.
LivePerson signed seven seven-figure deals and 107 deals in total in the fourth quarter, comprising 27 new and 80 existing customer contracts. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 31% in the fourth quarter to another record high of $610,000, up from approximately $465,000 in the comparable prior-year period.
“LivePerson delivered a record 2021 with revenue up 28% year-over-year and reaching $469.6 million, with automated messaging volume on our Conversational Cloud increasing 44% year-over-year due to our strong customer engagement,” said founder and CEO Robert LoCascio. “We expect 2022 to mark the next leg of our strategy to drive profitable growth within our core, our new voice AI capabilities, and our expansion into the space of AI assisted healthcare.”
“While we are pleased with our performance in 2021, we see a more leveraged and scalable opportunity to accelerate profitable growth that focuses on platform innovations and strategic partners. With rapid expansion of new verticals and use-cases, longstanding, top-tier brands driving year-over-year usage growth, and the integration of new platform capabilities such as voice, we have a solid foundation to sustainably reach our long term goals for growth and profit,” added CFO John Collins.
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Customer Expansion
During the fourth quarter, the Company signed contracts with the following new customers:
- A leading provider of loyalty marketing services
- One of the three largest water companies in the U.K.
- One of the ten largest healthcare companies in the world
- A top 15 credit card issuer in the U.S.
- A British telecommunications service provider
The Company also expanded business with:
- One of the largest cryptocurrency exchanges in the world
- A top financial services organization in the U.K.
- A leading online travel agency
- One of the top three leading retail corporations in the world
- A Fortune 500 paint manufacturer and retailer
Net Loss and Adjusted Operating (Loss) Income
Net loss for the fourth quarter of 2021 was $49.9 million or $0.70 per share, as compared to a net loss of $13.3 million or $0.20 per share in the fourth quarter of 2020. Adjusted operating loss, a non-GAAP financial metric, for the fourth quarter of 2021 was $11.4 million, as compared to an adjusted operating income of $12.6 million in the fourth quarter of 2020. Adjusted operating (loss) income excludes amortization of purchased intangibles, stock-based compensation, other litigation and consulting costs, restructuring costs, contingent earn-out adjustments, interest income (expense), and other expense (income).