Monica L. Greenberg, Executive Vice President, Policy & General Counsel at LivePerson Inc. (NASDAQ:LPSN), recently sold 12,904 shares of the company’s common stock. The transaction, which took place on January 6, was executed at a price of $1.58 per share, amounting to a total value of $20,388. Following this sale, Greenberg retains direct ownership of 568,703 shares, a figure that includes 441,891 unvested restricted stock units. The shares were sold automatically by LivePerson to cover tax liabilities related to the vesting of restricted stock units. According to InvestingPro analysis, the company faces challenges with significant debt burden and rapid cash burn, with a concerning debt-to-equity ratio of 10.25. Discover 13 additional key insights about LPSN with an InvestingPro subscription, including detailed financial health metrics and expert analysis.
In other recent news, LivePerson Inc. has reported a series of significant developments. The company announced Q2 2024 earnings with a revenue of $79.9 million and an adjusted EBITDA of $8.2 million, despite a year-over-year decline in B2B hosted services revenue and core recurring revenue. LivePerson also announced the appointment of Christopher Mina as Chief Technology & Product Officer and the departure of its former officer, Alex Kroman.
In strategic governance changes, LivePerson expanded its board of directors with the appointment of two new members, Dan Fletcher and Karin-Joyce (KJ) Tjon, and also announced a cooperation agreement with Vector Capital Management, its largest shareholder. The company also expanded its stock incentive and employee stock purchase plans, following approval from shareholders.
LivePerson implemented cost reductions, including the divestiture of Wild Health, resulting in savings of $3 to $5 million in expenses. Lastly, despite an expected sequential revenue decline, LivePerson plans to raise new capital to reduce debt. The company ended the quarter with $146 million in cash and anticipates improvements in new annual recurring revenue. These are all recent developments that have marked the company's progress.
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