LivePerson (LPSN)
Market Price (9/4/2026): $3.18 | Market Cap: $38.9 MilSector: Information Technology | Industry: Application Software
LivePerson (LPSN)
Market Price (9/4/2026): $3.18Market Cap: $38.9 MilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Artificial Intelligence, and Cloud Computing. Themes include AI Software Platforms, and Software as a Service (SaaS). | Weak multi-year price returns2Y Excs Rtn is -122%, 3Y Excs Rtn is -167% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -20 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -8.8% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 797% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -16%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -21%, Rev Chg QQuarterly Revenue Change % is -12% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -7.1% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -318% High stock price volatilityVol 12M is 1327% Key risksLPSN key risks include [1] persistent unprofitability and negative free cash flow and [2] a significant revenue decline driven by customer churn and downsells. |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, and Cloud Computing. Themes include AI Software Platforms, and Software as a Service (SaaS). |
| Weak multi-year price returns2Y Excs Rtn is -122%, 3Y Excs Rtn is -167% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -20 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -8.8% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 797% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -16%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -21%, Rev Chg QQuarterly Revenue Change % is -12% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -7.1% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -318% |
| High stock price volatilityVol 12M is 1327% |
| Key risksLPSN key risks include [1] persistent unprofitability and negative free cash flow and [2] a significant revenue decline driven by customer churn and downsells. |
Qualitative Assessment
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LivePerson (LPSN) stock has gained about 35% since 5/31/2026 because of the following key factors:
1. Acquisition by SoundHound AI, Inc.
The primary driver for LivePerson's stock gain was the announcement and subsequent approval of its acquisition by SoundHound AI, Inc. LivePerson stockholders approved the transaction on September 2, 2026, with the closing anticipated on September 4, 2026. The board had previously recommended this transaction, highlighting it as the best path to maximize stockholder value and offering a 22% premium. The merger consideration includes 0.4673 shares of SoundHound Class A common stock plus $3.31 in cash for each LivePerson share.
2. Enhanced Strategic Positioning in Conversational AI.
LivePerson's strategic initiatives in the conversational AI and enterprise customer experience (CX) markets likely made it an attractive acquisition target. Key developments included the expanded partnership with Google Cloud in August 2025, which integrated Google's AI technology, including Gemini large language models, into LivePerson's platform. Additionally, the launch of Syntrix in March 2026, an AI agent evaluation and training platform, aimed to improve the deployment and governance of enterprise AI, further strengthening its product offerings in the growing AI sector.
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LivePerson (LPSN) stock has gained about 35% since 5/31/2026 because of the following key factors:
1. Acquisition by SoundHound AI, Inc.
The primary driver for LivePerson's stock gain was the announcement and subsequent approval of its acquisition by SoundHound AI, Inc. LivePerson stockholders approved the transaction on September 2, 2026, with the closing anticipated on September 4, 2026. The board had previously recommended this transaction, highlighting it as the best path to maximize stockholder value and offering a 22% premium. The merger consideration includes 0.4673 shares of SoundHound Class A common stock plus $3.31 in cash for each LivePerson share.
2. Enhanced Strategic Positioning in Conversational AI.
LivePerson's strategic initiatives in the conversational AI and enterprise customer experience (CX) markets likely made it an attractive acquisition target. Key developments included the expanded partnership with Google Cloud in August 2025, which integrated Google's AI technology, including Gemini large language models, into LivePerson's platform. Additionally, the launch of Syntrix in March 2026, an AI agent evaluation and training platform, aimed to improve the deployment and governance of enterprise AI, further strengthening its product offerings in the growing AI sector.
3. Improved Financial Stability.
The company's efforts to strengthen its financial position also contributed to investor confidence. A major debt refinancing in 2025 reduced LivePerson's debt by $226 million and extended most debt maturities to 2029, significantly improving its financial runway. This move, coupled with management's stated goal of achieving positive cash flow in fiscal year 2026, helped to de-risk the company and present a more stable outlook ahead of the acquisition.
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Stock Movement Drivers
Fundamental Drivers
The 36.6% change in LPSN stock from 5/31/2026 to 9/3/2026 was primarily driven by a 42.6% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9032026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.27 | 3.10 | 36.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 236 | 229 | -3.0% |
| P/S Multiple | 0.1 | 0.2 | 42.6% |
| Shares Outstanding (Mil) | 12 | 12 | -1.3% |
| Cumulative Contribution | 36.6% |
Market Drivers
5/31/2026 to 9/3/2026| Return | Correlation | |
|---|---|---|
| LPSN | 36.6% | |
| Market (SPY) | 2.2% | 30.7% |
| Sector (XLK) | -2.6% | 31.9% |
Fundamental Drivers
The 8.0% change in LPSN stock from 2/28/2026 to 9/3/2026 was primarily driven by a 107.3% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9032026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.87 | 3.10 | 8.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 258 | 229 | -11.2% |
| P/S Multiple | 0.1 | 0.2 | 107.3% |
| Shares Outstanding (Mil) | 7 | 12 | -41.3% |
| Cumulative Contribution | 8.0% |
Market Drivers
2/28/2026 to 9/3/2026| Return | Correlation | |
|---|---|---|
| LPSN | 8.0% | |
| Market (SPY) | 13.0% | 27.2% |
| Sector (XLK) | 34.2% | 26.9% |
Fundamental Drivers
The -77.8% change in LPSN stock from 8/31/2025 to 9/3/2026 was primarily driven by a -48.8% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9032026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.98 | 3.10 | -77.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 272 | 229 | -15.8% |
| P/S Multiple | 0.3 | 0.2 | -48.8% |
| Shares Outstanding (Mil) | 6 | 12 | -48.6% |
| Cumulative Contribution | -77.8% |
Market Drivers
8/31/2025 to 9/3/2026| Return | Correlation | |
|---|---|---|
| LPSN | -77.8% | |
| Market (SPY) | 20.9% | 12.9% |
| Sector (XLK) | 42.3% | 9.9% |
Fundamental Drivers
The -95.1% change in LPSN stock from 8/31/2023 to 9/3/2026 was primarily driven by a -76.6% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9032026 | Change |
|---|---|---|---|
| Stock Price ($) | 63.00 | 3.10 | -95.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 457 | 229 | -49.9% |
| P/S Multiple | 0.7 | 0.2 | -76.6% |
| Shares Outstanding (Mil) | 5 | 12 | -58.0% |
| Cumulative Contribution | -95.1% |
Market Drivers
8/31/2023 to 9/3/2026| Return | Correlation | |
|---|---|---|
| LPSN | -95.1% | |
| Market (SPY) | 77.7% | 9.0% |
| Sector (XLK) | 115.7% | 8.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LPSN Return | -43% | -72% | -63% | -60% | -83% | -20% | -100% |
| Peers Return | 6% | -42% | 40% | 11% | -11% | 39% | 18% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| LPSN Win Rate | 58% | 25% | 50% | 42% | 17% | 11% | |
| Peers Win Rate | 53% | 27% | 55% | 52% | 45% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| LPSN Max Drawdown | -53% | -78% | -86% | -88% | -98% | -64% | |
| Peers Max Drawdown | -29% | -54% | -27% | -31% | -41% | -37% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CRM, MSFT, ORCL, FIVN, RNG. See LPSN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/3/2026 (YTD)
How Low Can It Go
| Event | LPSN | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -54.2% | -33.7% |
| % Gain to Breakeven | 118.5% | 50.9% |
| Time to Breakeven | 49 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -29.3% | -19.2% |
| % Gain to Breakeven | 41.5% | 23.8% |
| Time to Breakeven | 42 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -22.9% | -3.7% |
| % Gain to Breakeven | 29.8% | 3.9% |
| Time to Breakeven | 36 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -55.4% | -12.2% |
| % Gain to Breakeven | 124.4% | 13.9% |
| Time to Breakeven | 455 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -68.3% | -6.8% |
| % Gain to Breakeven | 215.3% | 7.3% |
| Time to Breakeven | 532 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -34.8% | -0.2% |
| % Gain to Breakeven | 53.4% | 0.2% |
| Time to Breakeven | 224 days | 1 days |
In The Past
LivePerson's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
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Asset Allocation
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| Event | LPSN | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -54.2% | -33.7% |
| % Gain to Breakeven | 118.5% | 50.9% |
| Time to Breakeven | 49 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -29.3% | -19.2% |
| % Gain to Breakeven | 41.5% | 23.8% |
| Time to Breakeven | 42 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -22.9% | -3.7% |
| % Gain to Breakeven | 29.8% | 3.9% |
| Time to Breakeven | 36 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -55.4% | -12.2% |
| % Gain to Breakeven | 124.4% | 13.9% |
| Time to Breakeven | 455 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -68.3% | -6.8% |
| % Gain to Breakeven | 215.3% | 7.3% |
| Time to Breakeven | 532 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -34.8% | -0.2% |
| % Gain to Breakeven | 53.4% | 0.2% |
| Time to Breakeven | 224 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -28.7% | -17.9% |
| % Gain to Breakeven | 40.3% | 21.8% |
| Time to Breakeven | 32 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -32.8% | -15.4% |
| % Gain to Breakeven | 48.7% | 18.2% |
| Time to Breakeven | 133 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -77.6% | -53.4% |
| % Gain to Breakeven | 347.3% | 114.4% |
| Time to Breakeven | 303 days | 1085 days |
In The Past
LivePerson's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About LivePerson (LPSN)
LivePerson, Inc. (LPSN) is a technology company specializing in conversational artificial intelligence (AI) and messaging solutions. Its core business revolves around enabling seamless communication and transactions between brands and their consumers, as well as between experts and individuals seeking information, primarily through digital messaging platforms. The company aims to transform traditional customer engagement into efficient, scalable conversational experiences.
The company's flagship offering is the Conversational Cloud, an enterprise-class, cloud-based platform. This platform allows businesses to engage with their customers via various conversational interfaces, including in-app and mobile messaging. Through its Business segment, LivePerson utilizes its "LiveEngage" intelligence engine to provide integrated mobile and online messaging technologies, helping organizations automate and enhance customer service, sales, and support using AI-driven chat and messaging capabilities.
LivePerson serves a broad and global customer base, including Fortune 500 companies, internet businesses, small businesses, universities, and government agencies across North America, South America, Europe, and Asia-Pacific. In addition to its business-focused solutions, the company also operates a Consumer segment, which facilitates online transactions where experts provide information and knowledge to users through messaging. LivePerson sells its products through both direct sales channels and strategic partnerships.
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Here are 1-3 brief analogies to describe LivePerson (LPSN):
- Like an AI-powered Zendesk for enterprise customer messaging.
- Think of it as the advanced, AI-driven chat and conversational platform for major brands, similar to an enterprise version of Intercom.
- It's akin to Salesforce Service Cloud, but specialized in building and managing AI-driven conversational customer experiences.
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- Conversational Cloud: An enterprise-class, cloud-based platform enabling businesses and consumers to connect through conversational interfaces, such as in-app and mobile messaging.
- LiveEngage Intelligence Engine: This engine powers business-to-consumer connections via an integrated suite of mobile and online business messaging technologies.
- Consumer Segment Platform: A platform that facilitates online transactions and knowledge exchange between experts and users through mobile and online messaging.
- Professional Services: This includes professional services and value-added business consulting services.
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LivePerson (LPSN) primarily sells its conversational commerce software and solutions to other businesses and organizations.
Based on the provided background, LivePerson's major customers include entities from the following categories:
- Fortune 500 companies
- Internet businesses
- Online merchants
- Small businesses
- Automotive dealers
- Universities
- Libraries
- Government agencies
- Not-for-profit organizations
The background information does not provide specific names of individual customer companies or their stock symbols.
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- Amazon.com, Inc. (AMZN)
- Microsoft Corporation (MSFT)
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John Sabino, Chief Executive Officer
John Sabino was appointed CEO of LivePerson in January 2024. He is a seasoned executive with extensive experience in enterprise software, SaaS, call center operations, and digital business, with a track record of building high-performing organizations and driving growth. Before joining LivePerson, he served as Chief Customer Officer at VMware, where he led a global customer experience organization and grew revenue to $1.3 billion. Sabino also held the position of Chief Customer Officer at Splunk, overseeing customer experience for over 18,000 customers. Earlier in his career, he was Chief Operating Officer at GE Digital, helping to build its commercial business by pioneering the use of data, machine learning, and digital modeling. He began his career as a captain in the U.S. Army and held executive roles at GE Capital and NBCUniversal.
John Collins, Chief Financial Officer and Chief Operating Officer
John Collins has served as CFO of LivePerson since March 2020. He was also appointed Interim CEO in August 2023, before transitioning to the expanded role of Chief Financial Officer and Chief Operating Officer in January 2024. Collins was a Co-Founder and Chief Product Officer of Thasos, a data intelligence firm, where he developed methods for transforming third-party data into investment signals. His financial services background includes executing leveraged finance transactions at Credit Suisse and building automated equity surveillance systems at the New York Stock Exchange. He also managed a hedge fund portfolio.
Monica Greenberg, Chief Legal & Administrative Officer
Monica Greenberg leads LivePerson's global legal and administrative functions, encompassing board and corporate governance, AI trust and transformation, commercial and strategic transactions, intellectual property, litigation, human capital, and corporate insurance and policy matters. She also oversees the company's data privacy and responsible AI policies. Prior to LivePerson, Monica was Vice President and General Counsel of Nuance Communications, Inc., a provider of speech recognition software now part of Microsoft. She previously worked at the law firms of Wilson Sonsini Goodrich & Rosati and Willkie Farr & Gallagher.
Christopher Mina, Chief Technology & Product Officer
Christopher Mina's career has centered on AI-driven customer engagement, large-scale digital operations, and leveraging new technologies to redefine go-to-market and operational capabilities. Before his current role, he was Head of Voice and Vice President of Product and Engineering at LivePerson, where he spearheaded voice initiatives and oversaw acquisitions such as Tenfold, Voicebase, and AI Foundation. He has also held leadership positions at RingCentral and various startups.
Kevin Meeks, Field President, Chief Revenue & Customer Officer
Kevin Meeks is an accomplished customer experience leader known for achieving industry-leading gross retention rates. As LivePerson's Field President, Chief Revenue & Customer Officer, he is responsible for helping customers maximize the value of their investments in LivePerson's platform. Over two decades, Meeks has led successful customer-centric organizations at high-growth companies, building and scaling both pre-sales and customer success teams.
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1. Sustained Financial Losses and Going Concern Risk
LivePerson has a history of significant financial losses, reporting a net loss of $67.2 million and an accumulated deficit of $1,058.5 million as of December 31, 2025. The company's three-year revenue growth rate has been negative, at -19.5%, and it experienced a 24.0% year-over-year revenue decrease in Q1 2025. LivePerson’s operating margin stands at -12.14% and its net margin at -51.72%, indicating substantial losses. The company's Altman Z-Score of -2.86 places it in a "distress zone," suggesting a potential risk of bankruptcy within the next two years. Furthermore, LivePerson faces liquidity needs and has substantial outstanding debt obligations. These factors raise significant concerns about its ability to achieve and maintain profitability and its long-term financial viability.
2. Intense Competition and Rapid Technological Obsolescence in Conversational AI
LivePerson operates in a highly dynamic and competitive market for conversational AI and customer engagement solutions. The market is rapidly evolving, with numerous players, including large technology companies, investing heavily in AI, natural language processing, and conversational platforms. This intense competition, coupled with the rapid pace of technological advancements in AI, poses a significant risk. If LivePerson cannot keep pace with innovation or if competitors develop superior or more cost-effective solutions, its market share and revenue opportunities could shrink. The company's ability to differentiate its "intelligence engine" and "AI driven automation" is crucial in this environment.
3. Challenges in Customer Retention and Revenue Growth
LivePerson has experienced revenue declines "driven by customer cancellations and downsells". While the company reported securing renewals and expansions in Q1 2025, the overall trend points to difficulties in retaining its customer base and growing revenue from existing clients. This risk is compounded by competitive pressures, as customers may seek alternative solutions or develop in-house capabilities if LivePerson's offerings do not sufficiently meet their evolving needs or provide a strong return on investment. Customer retention is specifically cited as a key risk factor in LivePerson's disclosures.
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The rapid advancement and widespread adoption of Large Language Models (LLMs) and generative artificial intelligence (AI) pose a clear emerging threat to LivePerson. LivePerson's core offerings, including its "Conversational Cloud," "intelligence engine," and "AI-driven automation," rely heavily on AI to facilitate interactions between businesses and consumers through conversational interfaces. The emergence of highly sophisticated generative AI models capable of producing vastly more natural, context-aware, and versatile conversational experiences could enable competitors—including well-resourced tech giants and agile startups—to develop superior or more cost-effective conversational solutions. If LivePerson's existing AI capabilities do not evolve quickly enough to integrate these cutting-edge generative AI paradigms, its foundational technology for conversational commerce and automation could be outmatched, threatening its competitive advantage and market position.
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LivePerson (LPSN) operates within several significant addressable markets related to conversational AI, conversational commerce, and customer experience management.
Conversational AI Market
The global conversational AI market was estimated at USD 11.58 billion in 2024 and is projected to grow to USD 41.39 billion by 2030, with a compound annual growth rate (CAGR) of 23.7% from 2025 to 2030. Another estimate places the global market at USD 13.6 billion in 2024, projected to reach USD 151.6 billion by 2033, exhibiting a CAGR of 29.16% from 2025-2033. North America is a dominant region in the conversational AI market, accounting for over 28.6% of the global market share in 2024.
Conversational Commerce Market
The global conversational commerce market size is projected to be USD 11.26 billion in 2025, USD 12.64 billion in 2026, and is expected to reach USD 22.56 billion by 2031, growing at a CAGR of 12.28% from 2026 to 2031. Another analysis indicates the global conversational commerce market reached USD 7.6 billion in 2024 and is anticipated to grow to USD 34.4 billion by 2034 at a CAGR of 16.3%. North America held a significant share, with 39.5% of the global market in 2024.
Customer Experience Management (CEM) Market
The global customer experience management market was valued at USD 22.35 billion in 2025 and is projected to reach USD 84.22 billion by 2034, growing at a CAGR of 15.80% during the forecast period. Another estimate places the global market at USD 17.86 billion in 2025, predicted to increase to approximately USD 70.64 billion by 2035, with a CAGR of 14.74% from 2026 to 2035. North America dominated the customer experience management market, holding a market share of 37.30% in 2025.
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LivePerson (LPSN) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
- Scaling the Syntrix AI Platform: The recent launch and scaling of the Syntrix platform, an AI evaluation and training platform, is a significant growth area for LivePerson. This new product is anticipated to contribute to future revenue, with potential upside not yet fully reflected in current guidance.
- Expansion of Google Cloud Partnership: LivePerson's deepening partnership with Google Cloud is a critical catalyst for growth. This includes a multi-million dollar renewal with an upsell and the expectation of a material amount of revenue flowing through the Google Cloud Marketplace by the end of 2026, leveraging Google's extensive enterprise SaaS purchasing budgets.
- Customer Growth and Expansion within B2B Core and Enterprise Accounts: A strategic focus on prioritizing customer growth and retention, particularly within its B2B core and enterprise segments, is a key driver. The company has demonstrated success in increasing the average revenue per customer (ARPC) for enterprise and mid-market clients, which rose by 8.8% to $680,000 in Q4 2025, indicating successful expansion of wallet share with existing high-value accounts.
- New Pricing and Packaging for Full Product Suite Adoption: LivePerson is implementing new pricing and packaging strategies designed to facilitate easier adoption of its full suite of products and capabilities by customers. This initiative aims to improve customer retention and encourage broader usage of their offerings, thereby increasing revenue per customer.
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Share Repurchases
No significant share repurchases were identified in the last 3-5 years.
Share Issuance
- LivePerson implemented a 1-for-15 reverse stock split of its common stock, effective October 13, 2025.
- Concurrently with the reverse stock split, the number of authorized common shares decreased from 300,000,000 to 20,000,000.
- On October 7, 2025, 26,551 shares of Series B Preferred Stock converted into an aggregate of 23,217,594 shares of Common Stock.
Inbound Investments
- In Q3 2025, LivePerson completed a strategic refinancing effort that reduced its debt by $226 million and extended debt maturities to December 2029. This involved exchanging $341.1 million of Convertible Senior Notes for a mix of cash ($45.0 million), new secured notes ($115.0 million), Series B Preferred Stock, and common stock.
- In Q3 2025, VECTOR CAPITAL MANAGEMENT, L.P. significantly increased its holdings, adding over 7.1 million shares for an estimated $62.6 million.
Outbound Investments
No direct outbound investments in other companies were identified in the last 3-5 years. The company's focus has been on internal investments in product innovation, particularly its core Conversational Cloud platform and the newly launched Syntrix platform, to enhance AI-led engagement and assurance.
Capital Expenditures
- Capital expenditures for purchases of property, plant, and equipment totaled $2.3 million in Q4 2025.
- In Q3 2025, capital expenditures amounted to $2.9 million.
- Over the last twelve months of 2025, capital expenditures represented a modest outflow of approximately $13.42 million.
Peer Outperformance in Application Software
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 59.3% | 166.6% | 276.2% | TTMI 732% · FLEX 666% · JBL 401% |
| Semiconductor Materials & Equipment | 27 | 132.6% | 53.5% | 90.8% | AEHR 809% · AXTI 473% · KLAC 431% |
| Technology Distributors | 9 | 31.0% | 59.2% | 79.6% | CLMB 336% · AVT 161% · SNX 119% |
| Communications Equipment | 36 | 25.7% | 80.0% | 66.6% | AAOI 1200% · LITE 852% · ANET 744% |
| Electronic Components | 26 | 48.3% | 59.1% | 56.0% | CLS 3214% · BELFA 1274% · COHR 330% |
| Technology Hardware, Storage & Peripherals | 21 | 37.5% | 75.6% | 16.2% | DELL 1062% · STX 926% · SMCI 897% |
| Semiconductors | 55 | 33.0% | 17.1% | 15.6% | POET 1700% · MU 1231% · NVDA 903% |
| Internet Services & Infrastructure | 6 | 20.8% | 44.1% | 14.6% | DOCN 49% · GDDY 38% · VRSN 36% |
| Electronic Equipment & Instruments | 27 | -7.7% | 4.7% | -8.9% | PI 201% · OSIS 111% · NSSC 96% |
| IT Consulting & Other Services | 28 | -21.3% | -8.1% | -27.7% | CHRN 528321% · APLD 1128% · TSSI 636% |
| Application Software ← | 124 | -19.1% | -12.3% | -44.0% | VIDA 248900% · INLX 4900% · PLTR 585% |
| Systems Software | 68 | -5.3% | 11.5% | -56.1% | PAYS 427% · QNC 401% · ZETA 343% |
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 115.20 |
| Mkt Cap | 111.6 |
| Rev LTM | 23,261 |
| Op Inc LTM | 4,814 |
| FCF LTM | 373 |
| FCF 3Y Avg | 296 |
| CFO LTM | 8,210 |
| CFO 3Y Avg | 7,111 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.0% |
| Rev Chg 3Y Avg | 10.3% |
| Rev Chg Q | 10.6% |
| QoQ Delta Rev Chg LTM | 2.5% |
| Op Inc Chg LTM | 37.3% |
| Op Inc Chg 3Y Avg | 35.5% |
| Op Mgn LTM | 14.1% |
| Op Mgn 3Y Avg | 11.0% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 30.9% |
| CFO/Rev 3Y Avg | 28.4% |
| FCF/Rev LTM | 17.2% |
| FCF/Rev 3Y Avg | 14.9% |
Price Behavior
| Market Price | $3.10 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 04/07/2000 | |
| Distance from 52W High | -79.1% | |
| 50 Days | 200 Days | |
| DMA Price | $2.21 | $2.92 |
| DMA Trend | down | up |
| Distance from DMA | 40.2% | 6.3% |
| 3M | 1YR | |
| Volatility | 85.9% | 1,327.1% |
| Downside Capture | 171.76 | 361.95 |
| Upside Capture | 302.37 | 116.15 |
| Correlation (SPY) | 30.7% | 13.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 6.48 | 3.70 | 1.92 | 1.50 | 13.50 | 4.53 |
| Up Beta | 8.83 | 3.01 | 0.85 | 0.76 | 37.56 | 7.33 |
| Down Beta | 3.26 | 2.21 | 1.41 | 0.46 | 1.03 | 1.33 |
| Up Capture | 1072% | 767% | 391% | 246% | 119% | 217% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 13 | 20 | 29 | 61 | 117 | 342 |
| Down Capture | -75% | 231% | 161% | 186% | 186% | 113% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 7 | 19 | 31 | 62 | 127 | 389 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LPSN | |
|---|---|---|---|---|
| LPSN | -76.9% | 1,327.1% | 0.83 | - |
| Sector ETF (XLK) | 43.1% | 26.2% | 1.33 | 9.9% |
| Equity (SPY) | 21.2% | 12.8% | 1.23 | 12.9% |
| Gold (GLD) | 25.1% | 29.1% | 0.77 | 8.4% |
| Commodities (DBC) | 42.9% | 20.4% | 1.64 | 4.7% |
| Real Estate (VNQ) | 10.7% | 13.6% | 0.50 | 5.6% |
| Bitcoin (BTCUSD) | -31.0% | 43.5% | -0.73 | 5.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LPSN | |
|---|---|---|---|---|
| LPSN | -68.2% | 600.4% | 0.30 | - |
| Sector ETF (XLK) | 19.8% | 25.9% | 0.68 | 9.1% |
| Equity (SPY) | 13.1% | 17.2% | 0.58 | 9.2% |
| Gold (GLD) | 19.6% | 18.8% | 0.85 | 6.6% |
| Commodities (DBC) | 11.0% | 19.5% | 0.44 | 3.6% |
| Real Estate (VNQ) | 2.0% | 18.9% | 0.00 | 6.0% |
| Bitcoin (BTCUSD) | 10.5% | 52.6% | 0.38 | 4.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LPSN | |
|---|---|---|---|---|
| LPSN | -30.4% | 426.2% | 0.27 | - |
| Sector ETF (XLK) | 24.3% | 25.0% | 0.88 | 9.4% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 8.8% |
| Gold (GLD) | 12.5% | 16.3% | 0.63 | 5.6% |
| Commodities (DBC) | 8.0% | 18.1% | 0.36 | 3.7% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 5.6% |
| Bitcoin (BTCUSD) | 63.1% | 66.1% | 1.03 | 3.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/12/2026 | -1.1% | -1.1% | 8.6% |
| 11/10/2025 | 14.5% | 2.5% | 1.3% |
| 8/11/2025 | -18.9% | -15.1% | -22.5% |
| 5/7/2025 | 8.4% | 7.6% | 0.4% |
| 3/5/2025 | -16.0% | -15.2% | -32.1% |
| 11/7/2024 | -28.2% | -32.8% | -26.2% |
| 7/31/2024 | -5.4% | -2.1% | 5.4% |
| 5/8/2024 | -8.6% | 27.4% | 1.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 9 | 10 |
| # Negative | 14 | 13 | 12 |
| Median Positive | 13.7% | 7.3% | 3.8% |
| Median Negative | -13.5% | -7.6% | -24.3% |
| Max Positive | 26.4% | 27.4% | 15.5% |
| Max Negative | -57.7% | -58.1% | -58.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/12/2026 | -1.1% | -1.1% | 8.6% |
| 11/10/2025 | 14.5% | 2.5% | 1.3% |
| 8/11/2025 | -18.9% | -15.1% | -22.5% |
| 5/7/2025 | 8.4% | 7.6% | 0.4% |
| 3/5/2025 | -16.0% | -15.2% | -32.1% |
| 11/7/2024 | -28.2% | -32.8% | -26.2% |
| 7/31/2024 | -5.4% | -2.1% | 5.4% |
| 5/8/2024 | -8.6% | 27.4% | 1.7% |
| 2/28/2024 | -47.1% | -57.9% | -58.4% |
| 11/8/2023 | -11.1% | 5.9% | 12.4% |
| 8/8/2023 | 19.0% | 13.4% | -0.5% |
| 5/9/2023 | 26.4% | -7.6% | -18.4% |
| 3/15/2023 | -57.7% | -58.1% | -45.8% |
| 11/7/2022 | 24.2% | 24.2% | 15.5% |
| 8/8/2022 | -21.8% | -17.3% | -30.1% |
| 5/9/2022 | 9.3% | 2.1% | -0.7% |
| 2/24/2022 | -25.6% | -5.5% | -1.8% |
| 11/2/2021 | -3.5% | -1.5% | -31.1% |
| 8/3/2021 | -3.3% | -4.4% | 0.4% |
| 5/4/2021 | 2.1% | 0.8% | 6.6% |
| 2/25/2021 | 12.8% | -5.7% | -10.6% |
| 10/29/2020 | -6.5% | 7.3% | 2.2% |
| SUMMARY STATS | |||
| # Positive | 8 | 9 | 10 |
| # Negative | 14 | 13 | 12 |
| Median Positive | 13.7% | 7.3% | 3.8% |
| Median Negative | -13.5% | -7.6% | -24.3% |
| Max Positive | 26.4% | 27.4% | 15.5% |
| Max Negative | -57.7% | -58.1% | -58.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/16/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 03/04/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/16/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 03/04/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 03/08/2021 | 10-K |
| 09/30/2020 | 11/09/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/02/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
Recent Forward Guidance
Updated 7/27/2026Latest: Q4 2025 Earnings Reported 3/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | Reported | 53.00 Mil | 54.00 Mil | 55.00 Mil | 1.9% | Higher New | Actual: 53.00 Mil for Q4 2025 | |
| Q1 2026 Revenue Growth | Reported | -18.0% | -16.5% | -15.0% | 11.0% | Higher New | Actual: -27.5% for Q4 2025 | |
| Q1 2026 Adjusted EBITDA | Reported | 2.00 Mil | 3.50 Mil | 5.00 Mil | 59.1% | Higher New | Actual: 2.20 Mil for Q4 2025 | |
| Q1 2026 Adjusted EBITDA margin | Reported | 3.8% | 6.45% | 9.1% | 2.5% | Higher New | Actual: 3.95% for Q4 2025 | |
| 2026 Revenue | Reported | 195.00 Mil | 201.00 Mil | 207.00 Mil | -15.4% | Lower New | Actual: 237.50 Mil for 2025 | |
| 2026 Revenue Growth | Reported | -20.0% | -17.5% | -15.0% | 6.5% | Higher New | Actual: -24.0% for 2025 | |
| 2026 Adjusted EBITDA | Reported | -4.00 Mil | 1.50 Mil | 7.00 Mil | -85.0% | Lower New | Actual: 10.00 Mil for 2025 | |
| 2026 Adjusted EBITDA margin | Reported | -2.1% | 0.65% | 3.4% | -3.6% | Lower New | Actual: 4.2% for 2025 | |
Prior: Q3 2025 Earnings Reported 11/10/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | Reported | 50.50 Mil | 53.00 Mil | 55.50 Mil | -7.8% | Lower New | Guidance: 57.50 Mil for Q3 2025 | |
| Q4 2025 Revenue Growth | Reported | -31.0% | -27.5% | -24.0% | -4.5% | Lower New | Guidance: -23.0% for Q3 2025 | |
| Q4 2025 Adjusted EBITDA | Reported | -0.30 Mil | 2.20 Mil | 4.70 Mil | -173.3% | Higher New | Guidance: -3.00 Mil for Q3 2025 | |
| Q4 2025 Adjusted EBITDA margin | Reported | -0.6% | 3.95% | 8.5% | 9.2% | Higher New | Guidance: -5.25% for Q3 2025 | |
| 2025 Revenue | Reported | 235.00 Mil | 237.50 Mil | 240.00 Mil | 1.1% | Raised | Guidance: 235.00 Mil for 2025 | |
| 2025 Revenue Growth | Reported | -25.0% | -24.0% | -23.0% | 0.5% | Raised | Guidance: -24.5% for 2025 | |
| 2025 Adjusted EBITDA | Reported | 7.50 Mil | 10.00 Mil | 12.50 Mil | 400.0% | Raised | Guidance: 2.00 Mil for 2025 | |
| 2025 Adjusted EBITDA margin | Reported | 3.2% | 4.2% | 5.2% | 3.4% | Raised | Guidance: 0.8% for 2025 | |
Insider Activity
Updated 7/30/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Collins, John Deneen | CFO and COO | Direct | Sell | 7302026 | 1.67 | 1,494 | 2,490 | 180,419 | Form |
| 2 | Greenberg, Monica L | EVP, Policy & General Counsel | Direct | Sell | 7302026 | 1.67 | 506 | 844 | 126,515 | Form |
| 3 | Sabino, Anthony John | Chief Executive Officer | Direct | Sell | 7022026 | 1.93 | 4,538 | 8,758 | 332,637 | Form |
| 4 | Sabino, Anthony John | Chief Executive Officer | Direct | Sell | 6172026 | 2.01 | 3,405 | 6,841 | 355,370 | Form |
| 5 | Collins, John Deneen | CFO and COO | Direct | Sell | 5192026 | 2.18 | 7,203 | 15,703 | 239,198 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Collins, John Deneen | CFO and COO | Direct | Sell | 7302026 | 1.67 | 1,494 | 2,490 | 180,419 | Form |
| 2 | Greenberg, Monica L | EVP, Policy & General Counsel | Direct | Sell | 7302026 | 1.67 | 506 | 844 | 126,515 | Form |
| 3 | Sabino, Anthony John | Chief Executive Officer | Direct | Sell | 7022026 | 1.93 | 4,538 | 8,758 | 332,637 | Form |
| 4 | Sabino, Anthony John | Chief Executive Officer | Direct | Sell | 6172026 | 2.01 | 3,405 | 6,841 | 355,370 | Form |
| 5 | Collins, John Deneen | CFO and COO | Direct | Sell | 5192026 | 2.18 | 7,203 | 15,703 | 239,198 | Form |
| 6 | Greenberg, Monica L | EVP, Policy & General Counsel | Direct | Sell | 5192026 | 2.18 | 3,600 | 7,848 | 166,552 | Form |
| 7 | Sabino, Anthony John | Chief Executive Officer | Direct | Sell | 4022026 | 2.57 | 7,844 | 20,159 | 463,356 | Form |
| 8 | Sabino, Anthony John | Chief Executive Officer | Direct | Sell | 3252026 | 2.50 | 8,033 | 20,082 | 470,345 | Form |
| 9 | Sabino, Anthony John | Chief Executive Officer | Direct | Sell | 3172026 | 2.72 | 12,594 | 34,256 | 533,585 | Form |
| 10 | Collins, John Deneen | CFO and COO | Direct | Sell | 3172026 | 2.72 | 931 | 2,532 | 318,041 | Form |
| 11 | Greenberg, Monica L | EVP, Policy & General Counsel | Direct | Sell | 3172026 | 2.72 | 315 | 857 | 217,600 | Form |
| 12 | Mina, Christopher Allen | Chief Tech Product Officer | Direct | Sell | 1202026 | 3.15 | 7,152 | 22,543 | 165,909 | Form |
| 13 | Miller, James R | Direct | Sell | 12182025 | 4.73 | 2,133 | 10,089 | 104,987 | Form | |
| 14 | Sabino, Anthony John | Chief Executive Officer | Direct | Sell | 12172025 | 4.73 | 4,984 | 23,574 | 987,458 | Form |
| 15 | Collins, John Deneen | CFO and COO | Direct | Sell | 11182025 | 5.19 | 20,000 | 103,888 | 424,975 | Form |
| 16 | Sabino, Anthony John | Chief Executive Officer | Direct | Sell | 11182025 | 5.26 | 30,000 | 157,890 | 809,181 | Form |
| 17 | Collins, John Deneen | CFO and COO | Direct | Sell | 9262025 | 0.63 | 446,601 | 280,912 | 960,614 | Form |
| 18 | Greenberg, Monica L | EVP, Policy & General Counsel | Direct | Sell | 9262025 | 0.64 | 157,203 | 100,453 | 761,835 | Form |
| 19 | Ford, Jeffrey | Chief Accounting Officer | Direct | Sell | 9262025 | 0.64 | 59,053 | 37,735 | 259,828 | Form |
| 20 | Sabino, Anthony John | Chief Executive Officer | Direct | Sell | 9182025 | 0.69 | 96,062 | 65,899 | 1,890,777 | Form |
| 21 | Vector, Capital Management, LP | See Footnotes | Sell | 8142025 | 0.98 | 252,776 | 247,063 | 8,781,232 | Form | |
| 22 | Vector, Capital Management, LP | See Footnotes | Sell | 8142025 | 0.99 | 955,412 | 947,578 | 9,161,309 | Form | |
| 23 | Vector, Capital Management, LP | See Footnotes | Sell | 8142025 | 1.02 | 706,991 | 721,343 | 10,399,372 | Form | |
| 24 | Collins, John Deneen | CFO and COO | Direct | Sell | 7292025 | 1.03 | 21,966 | 22,537 | 1,302,492 | Form |
| 25 | Greenberg, Monica L | EVP, Policy & General Counsel | Direct | Sell | 7292025 | 1.03 | 7,431 | 7,624 | 717,451 | Form |
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Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Application Software Resources |
| Capterra |
| Software Advice |
| InfoWorld |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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