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LivePerson, Inc. (LPSN) saw its loss narrow to $9.56 million, or $0.17 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $20.96 million, or $0.37 a share. On an adjusted basis, net loss for the quarter stood at $2.43 million, or $0.04 a share compared with a net profit of $4.11 million, or $0.07 a share in the last year period.
Revenue during the quarter dropped 5.13 percent to $56.12 million from $59.15 million in the previous year period. Gross margin for the quarter expanded 341 basis points over the previous year period to 73.36 percent. Operating margin for the quarter stood at negative 14.74 percent as compared to a negative 4.38 percent for the previous year period.
Operating loss for the quarter was $8.27 million, compared with an operating loss of $2.59 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $5.26 million compared with $6.37 million in the prior year period. At the same time, adjusted EBITDA margin contracted 140 basis points in the quarter to 9.37 percent from 10.77 percent in the last year period.
"We are taking aim at a multi-billion-dollar market as we leverage our traction with LiveEngage and our leadership in messaging," said chief executive officer Robert LoCascio. "In 2016, we brought live the first enterprise customers to message at scale with consumers, advanced the migration to LiveEngage, and signed two of the largest contract renewals in our history."
For the first-quarter, Liveperson forecasts revenue to be in the range of $50 million to $51 million. The company projects net loss to be in the range of $7 million to $5.80 million. The company expects adjusted net income to be in the range of $0.32 million to $0.98 million. The company expects diluted loss per share to be in the range of $0.12 to $0.10 for the first-quarter.
For fiscal year 2017, Liveperson forecasts revenue to be in the range of $201 million to $209 million. The company projects net loss to be in the range of $22.80 million to $17.60 million. The company expects adjusted net income to be in the range of $4.42 million to $7.02 million. The company expects diluted loss per share to be in the range of $0.40 to $0.31. The company expects diluted earnings per share to be in the range of $0.07 to $0.12 on adjusted basis.
Working capital drops significantly
LivePerson, Inc. has witnessed a decline in the working capital over the last year. It stood at $21.73 million as at Dec. 31, 2016, down 44.45 percent or $17.39 million from $39.12 million on Dec. 31, 2015. Current ratio was at 1.31 as on Dec. 31, 2016, down from 1.71 on Dec. 31, 2015. Days sales outstanding went up to 26 days for the quarter compared with 24 days for the same period last year.
At the same time, days payable outstanding went up to 22 days for the quarter from 18 for the same period last year.
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