Revenue of $97.52 million beat the consensus of $96.85 million.

Revenue declined 26.4% Y/Y due to the planned exit of lower-margin and non-core lines of business.

In Q2, LivePerson inked 69 deals, comprising 33 new and 36 existing customer contracts, which includes three seven-figure deals.

Adjusted operating income stood at $3.1 million vs. an adjusted operating loss of $(12.6) million a year ago, reflecting a settlement deal with former Wild Health shareholders that eradicated a multi-year contingent earn-out payment of up to $120.0 million and reversed accrued stock-based compensation.

EPS of $0.12 surpassed the consensus of $(0.38).

As of June 30, 2023, the cash balance stood at $213.8 million. 

LivePerson narrowed 2023 guidance for revenue (including Kasamba contribution in Q1) to $395 million - $407 million (from the prior range of $394 million - $408 million) vs. $401.76 million consensus. 

On the other hand, adjusted EBITDA outlook was raised to $19 million - $32 million from $15 million- $32 million earlier.

Apart from this, the company also announced John Collins, the current CFO, will assume the additional role of interim CEO, effective August 7, 2023.

Price Action: LPSN shares are trading up by 13.28% at $4.52 premarket on the last check Wednesday.