HomeTrending StocksLivePerson Inc. (LPSN) stock plunge during pre-market. What’s driving it low?

LivePerson Inc. (LPSN) stock plunge during pre-market. What’s driving it low?

LivePerson Inc. (NASDAQ: LPSN) stock gained by 0.86% at last close whereas the LPSN stock declines by 9.39% in the pre-market trading session. Through trustworthy conversational AI, LivePerson makes life simpler for individuals and companies all around the world. The conversational solutions are used by 18,000 clients, including top brands, to coordinate people and AI to establish a convenient, profoundly personal interaction with their millions of customers.

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LPSN stock, Financial Results

LivePerson has announced its second-quarter 2021 financial highlights. Given below is the summary:

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  • The net revenue for Q2 2021 was $119.6 million which is an increase of 31% over the same period the previous year. Revenue from commercial operations grew 31% year over year to $109.8 million in the second quarter of 2021, while revenue from consumer operations rose 29% year over year to $9.8 million.
  • In the second quarter of 2021, the company lost $21.1 million, or $0.31 per share, relative to $18.6 million, or $0.28 per share, in the same period of 2020.
  • Adjusted operating income, a non-GAAP financial measure is calculated as $6.4 million in the Q2 2021, relative to $3.5 million in the second quarter of 2020.
  • Adjusted EBITDA, a non-GAAP financial measure, was $13.4 million or $0.18 per share in the second quarter of 2021, relative to $9.3 million or $0.14 per share in the second quarter of 2020.
  • At June 30, 2021, LPSN’s cash balance was $664.3 million, up from $654.2 million at December 31, 2020.

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About the financial results, CEO Robert LoCascio said,

They had record revenue in Q2, and AI-driven volume on their platform reached an all-time high. They continue to observe significant market traction, with increased demand for Conversational AI in both commerce and healthcare use cases. Brands are heavily focusing on AI and messaging to interact and engage with customers, taking advantage of their automated capabilities. They’re investing to capitalize on the market’s significant interest, particularly in new sectors like healthcare and cryptocurrencies, as well as novel use cases like social media management.

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