LivePerson Inc (LPSN) 2023 Q1 法說會逐字稿

Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to LivePerson's First Quarter 2023 Earnings Conference Call. My name is John, and I will be your conference operator today. (Operator Instructions) As a reminder, this conference is being recorded.

女士們先生們，下午好。謝謝你的支持。歡迎來到 LivePerson 2023 年第一季度收益電話會議。我叫約翰，今天我將擔任你們的會議接線員。 （操作員說明）提醒一下，正在錄製此會議。

And I would now like to turn the conference call over to Mr. Chad Cooper, Senior Vice President of Investor Relations. Thank you. Please go ahead.

我現在想將電話會議轉交給投資者關係高級副總裁查德庫珀先生。謝謝。請繼續。

Thank you, John. Good afternoon, everyone, and thank you for joining us today. On the call with me today are Rob LoCascio, LivePerson's Founder and CEO; and John Collins, Chief Financial Officer.

謝謝你，約翰。大家下午好，感謝您今天加入我們。今天和我通電話的是 LivePerson 的創始人兼首席執行官 Rob LoCascio；首席財務官 John Collins。

Please note that during today's call, we will make forward-looking statements, which are predictions, projections and other statements about future results. These statements are based on our current expectations and assumptions as of today and are subject to risks and uncertainties.

請注意，在今天的電話會議中，我們將做出前瞻性陳述，即對未來結果的預測、預測和其他陳述。這些陳述基於我們目前的預期和假設，並受到風險和不確定性的影響。

Actual results may differ materially due to various factors, including those described in today's earnings press release and the comments made during this conference call and in 10-Ks, 10-Qs and other reports we file from time to time with the SEC. We assume no obligation to update any forward-looking statements.

實際結果可能因各種因素而存在重大差異，包括今天的收益新聞稿和本次電話會議期間發表的評論，以及我們不時向美國證券交易委員會提交的 10-Ks、10-Qs 和其他報告中的評論。我們不承擔更新任何前瞻性陳述的義務。

Also during this call, we will discuss non-GAAP financial measures. Reconciliations of GAAP to non-GAAP financial measures are included in today's earnings press release and the supplemental slides where applicable. Both the press release and supplemental slides, which include highlights of the quarter, are available on the Investor Relations section of LivePerson's website.

同樣在這次電話會議中，我們將討論非 GAAP 財務措施。 GAAP 與非 GAAP 財務指標的對賬包含在今天的收益新聞稿和適用的補充幻燈片中。新聞稿和補充幻燈片，包括本季度的亮點，都可以在 LivePerson 網站的投資者關係部分找到。

Finally, I'd like to remind everyone that we are here today to talk about our first quarter of fiscal year 2023. As you may be aware, a shareholder has announced its intent to nominate candidates for election as directors at the company's '23 Annual Meeting of Stockholders.

最後，我想提醒大家，我們今天在這裡討論我們 2023 財年第一季度的情況。您可能已經知道，一位股東已宣布有意在公司的 23 年度股東大會上提名董事候選人。股東大會。

The company intends to file definitive proxy materials related to the 2023 annual meeting in due course. Stockholders of the company are strongly encouraged to read the company's definitive proxy statement, the accompanying proxy card and all other documents filed with the SEC carefully and in their entirety as they contain important information.

公司擬適時提交與2023年年會相關的最終代理材料。強烈建議公司股東仔細閱讀公司的最終委託書、隨附的委託書以及向美國證券交易委員會提交的所有其他文件，因為它們包含重要信息。

Information regarding the identity of the company's participants and their direct or indirect interest by security holdings or otherwise, will be set forth in the definitive proxy statement and other materials filed by the company with the SEC. Stockholders may obtain copies of these documents for free through the company's website or through the SEC's website at sec.gov. We will not comment further on this matter on this call. We appreciate you keeping your questions focused on LivePerson's performance and results.

有關公司參與者身份的信息以及他們通過證券持有或其他方式獲得的直接或間接利益，將在公司向美國證券交易委員會提交的最終委託書和其他材料中列出。股東可通過公司網站或 SEC 網站 sec.gov 免費獲取這些文件的副本。我們不會在本次電話會議上就此事進一步發表評論。感謝您將問題集中在 LivePerson 的表現和結果上。

And with that, I will turn the call over to Rob. Rob?

有了這個，我會把電話轉給羅布。搶？

Thanks, Chad. Good afternoon, and thank you for joining us for our first quarter 2023 earnings call. LivePerson had a really good quarter, generating revenue of $108 million while narrowing our EBITDA loss to $1 million as we continue to execute on our profitability goals. Total revenue was at the high end of the range and adjusted EBITDA was well ahead of the guidance range.

謝謝，乍得。下午好，感謝您加入我們的 2023 年第一季度財報電話會議。 LivePerson 有一個非常好的季度，創造了 1.08 億美元的收入，同時隨著我們繼續執行我們的盈利目標，將我們的 EBITDA 損失縮小到 100 萬美元。總收入處於範圍的高端，調整後的 EBITDA 遠高於指導範圍。

We continue progressing on the business initiatives, crucial for our next phase of growth, including a narrowed focus on our B2B core and rightsizing our expenses. We are reaffirming total revenue and adjusted EBITDA guidance for the full year, and John will provide more detail on the financials shortly.

我們繼續推進業務計劃，這對我們下一階段的增長至關重要，包括縮小對 B2B 核心業務的關注範圍並合理調整開支。我們重申全年總收入和調整後的 EBITDA 指引，John 將很快提供更多財務細節。

For the company, our employees and our customers, May 2 was the start of the next leg of our journey with the launch of our new generative AI products and platforms. The changes we implemented over the past 5 quarters, including removing non-core revenue, divesting of our consumer business gives us a solid operating foundation to support our growth and focus on the opportunity we see from the core business.

對於公司、我們的員工和我們的客戶來說，5 月 2 日是我們新的生成 AI 產品和平台發布的下一站旅程的開始。我們在過去 5 個季度實施的變革，包括取消非核心收入、剝離我們的消費者業務，為我們提供了堅實的運營基礎來支持我們的增長，並專注於我們從核心業務中看到的機會。

We've always completed -- we also completed the consolidation of certain go-to-market functions, which will meaningfully improve our P&L going forward. Our company is at an inflection point. And with the changes we have implemented, we are poised to accelerate profitable growth in the periods ahead.

我們一直在完成——我們還完成了某些進入市場功能的整合，這將顯著改善我們未來的損益。我們公司正處於一個轉折點。隨著我們實施的變革，我們準備在未來一段時間內加速盈利增長。

We have set our sights on becoming one of the largest and most effective enterprise AI companies as we have the advantage of our early entrants into AI 5 years ago. We believe that generative AI will significantly accelerate our existing traction in delivering high-quality automation and business outcomes to the enterprise.

我們的目標是成為最大、最有效的企業 AI 公司之一，因為我們擁有 5 年前進入 AI 領域的先行者的優勢。我們相信，生成式 AI 將顯著加快我們在為企業提供高質量自動化和業務成果方面的現有動力。

Most AI models are trained with tens of thousands of AI-generated conversations labeled by employees or freelancers. LivePerson hosts billions of conversations with our enterprises and consumer conversations with the input of 350,000 live experts on our platform, coupled with 250,000 API endpoints that enable not only engagements, but also transactions, this approach is imperative to enable generative AI in the enterprise.

大多數 AI 模型都經過數以萬計由員工或自由職業者標記的 AI 生成對話的訓練。 LivePerson 與我們的企業和消費者對話進行了數十億次對話，我們平台上有 350,000 名現場專家的輸入，再加上 250,000 個 API 端點，不僅可以實現參與，還可以實現交易，這種方法對於在企業中實現生成 AI 是必不可少的。

Our generative AI advantages are rooted in our precision data set, 350,000 customer service agents on our platform generating the quality data, our secured guardrails protecting our customers and their data and integrations into our customers' back-end systems, which allows us to do transactions and outcomes. Those of you who joined our product launch event last week, saw that LivePerson could customize and tailor responses to suit the situation and reflect the brand's voice with the largest conversational data set and a very strong platform for handling the data.

我們的生成人工智能優勢植根於我們的精確數據集，我們平台上的 350,000 名客戶服務代理生成高質量數據，我們的安全護欄保護我們的客戶及其數據並集成到客戶的後端系統中，這使我們能夠進行交易和結果。上週參加我們產品發布會的那些人，看到 LivePerson 可以根據情況定制和定制響應，並通過最大的對話數據集和非常強大的數據處理平台反映品牌的聲音。

Additionally, the voice-based acquisition has been a key accelerant to driving the efficacy of our data and allowing it to be prepared to scale with the new AI large language models.

此外，基於語音的採集一直是推動我們數據功效並使其準備好與新的 AI 大型語言模型一起擴展的關鍵促進劑。

LivePerson is a global leader in Conversational AI, 100 of the world's leading brands, including HSBC, Virgin Media, Chipolte, use our Conversational Cloud. We power nearly 1 billion conversation interactions every month providing a uniquely rich data set to build connections that reduce costs, increase revenue and are anything but artificial.

LivePerson 是對話式人工智能領域的全球領導者，包括匯豐銀行、維珍傳媒、Chipolte 在內的 100 個世界領先品牌都在使用我們的對話雲。我們每個月為近 10 億次對話交互提供支持，提供獨特的豐富數據集來建立連接，從而降低成本、增加收入並且絕不是人工的。

We use this data set and expertise to act as the assembler so that the responses are grounded and the large language models only use these to generate high-quality responses. It can't be overstated how important it is that LivePerson can leverage the humans in the loop on our platform. Over 300,000 -- 350,000 skilled humans are using the LivePerson platform, continually training and refining answers to provide the risk mitigation or guardrails necessary to help enterprises safely leverage generative AI.

我們使用此數據集和專業知識充當彙編器，以便響應是有根據的，大型語言模型僅使用這些來生成高質量的響應。 LivePerson 可以在我們的平台上利用循環中的人類是多麼重要，這一點怎麼強調都不為過。超過 300,000 - 350,000 名技術人員正在使用 LivePerson 平台，不斷培訓和完善答案，以提供必要的風險緩解或護欄，幫助企業安全地利用生成人工智能。

This ensures that all AI conversations are grounded in facts and relevant to our brands that we reduce what they call hallucinations. And I really feel that 1 day, if we look at the asset value of the company, our data set alone has such a tremendous value because of its uniqueness in providing high-quality outcomes.

這確保所有 AI 對話都以事實為基礎並與我們的品牌相關，從而減少他們所謂的幻覺。我真的覺得有一天，如果我們看看公司的資產價值，我們的數據集本身就具有如此巨大的價值，因為它在提供高質量結果方面具有獨特性。

One of the most important aspects of our platform is that they combine high-quality conversation using large language models and AI actions that generate sales and service outcomes due to our deep integration to the back-end systems and our Tenfold acquisition also supports these integrations as a key pillar. And when we look at working with brands, I've been out with them recently, many of them talking about this, the biggest part they're looking for is the outcome of the action. What we're seeing in most things when it comes to large language models is we see that the conversation is natural, and it gives good responses, but we don't see usually an outcome like a sale or service outcome. And that's where we really shine.

我們平台最重要的方面之一是，它們結合了使用大型語言模型的高質量對話和 AI 操作，由於我們與後端系統的深度集成，我們產生了銷售和服務成果，而我們的 Tenfold 收購也支持這些集成，因為一個關鍵支柱。當我們考慮與品牌合作時，我最近和他們一起出去了，他們中的許多人都在談論這個，他們正在尋找的最重要的部分是行動的結果。當涉及到大型語言模型時，我們在大多數事情中看到的是我們看到對話是自然的，並且它給出了很好的回應，但我們通常看不到像銷售或服務結果這樣的結果。這就是我們真正閃耀的地方。

We have over 250,000 APIs integrated into our system today that provide those outcomes. So as many of you watched on May 2, you may have also saw that we have plans to deliver AI in a different way, which we call an EIA framework. And the E indicates our commitment to AI that is equal, enterprise grade and for everyone.

今天，我們有超過 250,000 個 API 集成到我們的系統中來提供這些結果。因此，正如你們中的許多人在 5 月 2 日觀看的那樣，你們可能還看到我們計劃以不同的方式提供 AI，我們稱之為 EIA 框架。 E 表示我們對平等、企業級和適用於所有人的 AI 的承諾。

And unlike what we talk about with OpenAI and just open this as a general term, we think EAI is much more focused on what our customers want in the enterprise. It takes the power of generative AI in large language models, but assembles them with the right data set and training that allows us to deliver outcomes in a safe and responsible way. And with the release now of our voice AI platform, we can integrate all of that into voice platforms like a Genesys or Amazon Connect or Five9. And this will help us accelerate what we set out to do 7 years ago.

與我們談論的 OpenAI 不同，只是將其作為一個通用術語打開，我們認為 EAI 更關注我們的客戶在企業中的需求。它利用大型語言模型中生成人工智能的力量，但將它們與正確的數據集和培訓相結合，使我們能夠以安全和負責任的方式交付成果。隨著我們語音 AI 平台的發布，我們可以將所有這些集成到 Genesys 或 Amazon Connect 或 Five9 等語音平台中。這將幫助我們加快 7 年前的計劃。

As you know, I fundamentally believe that traditional voice calls with agents was never the way of the future. And now we will accelerate those conversations to get automated at a very high rate. It's about a $60 billion TAM. And what I could see now is I think we can get to a place where 80% of those conversations can get automated that we don't need human beings anymore taking those calls. And I think that will happen over the next 5 years. So we're really excited about the opportunities.

如您所知，我從根本上認為與座席的傳統語音通話永遠不會成為未來的方式。現在我們將加速這些對話，以非常高的速度實現自動化。這大約是 600 億美元的 TAM。我現在可以看到的是，我認為我們可以實現 80% 的對話可以自動化，我們不再需要人類接聽這些電話。我認為這將在未來 5 年內發生。所以我們對這些機會感到非常興奮。

And obviously, all the work we did in the last couple of months is really about restructuring the business to be able to focus on this big opportunity. And obviously, we had to put a lot of effort into that restructuring, but now we can put 100% of our focus into growth, and that's where we are today.

顯然，我們在過去幾個月所做的所有工作實際上都是關於重組業務，以便能夠專注於這個巨大的機會。顯然，我們不得不為重組付出很多努力，但現在我們可以將 100% 的注意力放在增長上，這就是我們今天的處境。

When we look at the quarter, we signed 70 new deals in the quarter, including 4 7-figure deals, 50 expansions renewals, 20 new logo deals, and we completed the restructuring of our go-to-market teams in Q1. We did put a focus on more and higher-quality logos than we usually do in the mid-market and small business. We're shifting in that area because we see with this technology now -- we can do a lot more transformation. So we are focused on that during the quarter. And that will continue forth into Q2.

回顧本季度，我們在本季度簽署了 70 筆新交易，包括 4 筆 7 位數交易、50 筆擴展續約、20 筆新標識交易，並且我們在第一季度完成了上市團隊的重組。與我們通常在中端市場和小型企業中所做的相比，我們確實將重點放在了更多和更高質量的徽標上。我們正在那個領域轉變，因為我們現在看到這項技術——我們可以做更多的轉變。因此，我們在本季度專注於此。這將持續到第二季度。

We did sign a 4-year 7-figure deal with Europe's largest bank and financial services company. Our immediate goal with this brand is to plan a generative AI strategy that puts LP at the core of everything, how they engage with their customers and their employees and they serve 23 markets today. I think with that -- what's interesting about this deal is our third -- I believe second or third renewal with them.

我們確實與歐洲最大的銀行和金融服務公司簽署了一份為期 4 年、價值 7 位數的交易。我們對這個品牌的近期目標是規劃一個生成人工智能戰略，將 LP 置於一切的核心，他們如何與客戶和員工互動，以及他們今天為 23 個市場提供服務。我認為 - 這筆交易的有趣之處在於我們的第三次 - 我相信與他們的第二次或第三次續約。

And even in the face of everything going on with generative AI, they want to put it on a platform that can allow them to do it in a way that generates the outcome in a safe and secure way. And so I think it's just a testament once again of how are we playing in the market with this new shiny object and how do we make it real when it comes to bringing it to the enterprise.

即使面對生成式 AI 發生的一切，他們也希望將其放在一個平台上，讓他們能夠以安全可靠的方式生成結果。因此，我認為這再次證明了我們如何使用這個閃亮的新對像在市場上發揮作用，以及我們如何在將其引入企業時使它成為現實。

We also signed a 7-figure renewal deal with one of the largest multinational telecommunications companies in the world. This brand increased customer adoption of messaging with comprehensive use of our AI suite Conversation Builder, Conversational Assist and proactive messaging. We're now going across care, obviously, sales, retention complaints, and we're expanding our relationship with the once again, as we expand using this new technology.

我們還與世界上最大的跨國電信公司之一簽署了 7 位數的續約協議。該品牌通過全面使用我們的 AI 套件 Conversation Builder、Conversational Assist 和主動消息傳遞，提高了客戶對消息傳遞的採用率。我們現在正在處理護理，顯然，銷售，保留投訴，並且隨著我們擴大使用這項新技術，我們正在再次擴大我們的關係。

We also landed a 7-figure renewal deal with a multinational financial services company and the largest bank in Canada. This brand doubled its LP investment in the spring of last year, leveraging our automation services.

我們還與一家跨國金融服務公司和加拿大最大的銀行達成了 7 位數的續約協議。去年春天，該品牌利用我們的自動化服務將其 LP 投資翻了一番。

In 4 months, our automation already powers 35% of all their conversations which is climbing daily as we optimize the operation with our dedicated automation team. Volume is critical for them, but also the quality of the conversations is what we deliver on a day-by-day basis. In that deal, we beat out Salesforce and Genesys for this engagement and are pleased what we're doing with them on the deployment so far.

在 4 個月內，我們的自動化已經為他們所有對話的 35% 提供支持，隨著我們與專門的自動化團隊優化運營，這一數字每天都在攀升。音量對他們來說至關重要，但對話的質量也是我們每天提供的。在那筆交易中，我們在這次合作中擊敗了 Salesforce 和 Genesys，並且很高興我們與他們在部署方面所做的一切。

Also important to note that one of our large Fortune 500 health insurance providers set a global goal to shift 50% of their call volume to messaging to achieve further operational efficiencies, providing meaningful upside to our engagement with the client. And this is also what we're taking that volume out of one of the traditional contact center players.

同樣重要的是要注意，我們的一家大型財富 500 強健康保險提供商設定了一個全球目標，將其 50% 的呼叫量轉移到消息傳遞上，以進一步提高運營效率，為我們與客戶的互動提供有意義的好處。這也是我們從傳統的聯絡中心參與者那裡獲得的數量。

We landed a 7-figure deal with a large health care service provider. We'll begin their journey with web messaging and move quickly into IVR deflection and proactive messaging. And finally, a large retailer in the U.K. has embarked on a 5-year transformational plan with digital technology playing at the key component. Phase 1 is to deploy our technology for care, focusing on reducing the contact center costs. And then Phase 2 is to remove one of the ticketing platforms and turn that into an asynchronous integration where we're delivering the large language models and delivering a better consumer experience than traditional ticketing.

我們與一家大型醫療保健服務提供商達成了一筆 7 位數的交易。我們將從 Web 消息傳遞開始他們的旅程，然後快速進入 IVR 偏轉和主動消息傳遞。最後，英國的一家大型零售商開始了一項為期 5 年的轉型計劃，其中數字技術將發揮關鍵作用。第 1 階段是部署我們的護理技術，重點是降低聯絡中心成本。然後第二階段是刪除其中一個票務平台，並將其轉變為異步集成，我們將在其中提供大型語言模型並提供比傳統票務更好的消費者體驗。

The final restructuring in Q1 enables us to focus on driving profitable growth at a scale that will match the demand now in the market for enterprise AI. Now that we have that restructuring behind us, we can return to focusing on all efforts on engaging the growth engines and bringing our new products and platforms to our brands. We're in a really unique position right now when it comes to generative AI and bringing it to the enterprise because of our history with them and our trust with them. And they have used these tools with us and now they just want to accelerate the use of these technologies when it comes to scaling their operations, especially in the contact center.

第一季度的最終重組使我們能夠專注於推動盈利增長，其規模將與目前企業人工智能市場的需求相匹配。現在我們已經完成了重組，我們可以重新專注於所有努力，以吸引增長引擎並將我們的新產品和平台引入我們的品牌。由於我們與他們的歷史以及我們對他們的信任，在生成人工智能並將其引入企業方面，我們現在處於一個非常獨特的位置。他們已經與我們一起使用了這些工具，現在他們只想在擴展業務時加快這些技術的使用，尤其是在聯絡中心。

But it's not only limited there, there's already a bunch of customers that are using us for like HR use cases and IT use cases. So I think as we see where we want to go with the platform, we will continue to expand into use cases that leverage what we've learned in the contact center to go after other business units.

但這不僅限於此，已經有很多客戶在使用我們的人力資源用例和 IT 用例。所以我認為，當我們看到我們想要使用該平台去哪裡時，我們將繼續擴展到利用我們在聯絡中心學到的東西來追求其他業務部門的用例。

And with that, let me now turn the call over to John, who will discuss the financial results. John?

有了這個，現在讓我把電話轉給約翰，他將討論財務結果。約翰？

Thank you, Rob. The first quarter of 2023 was a transformative one for LivePerson's financial profile and growth strategy. As we committed last quarter, we completed one of the largest restructuring events in the company's history, enabling us to enter the second quarter with a profitable run rate and a focused go-to-market strategy for accelerating growth within the B2B core.

謝謝你，羅布。 2023 年第一季度對 LivePerson 的財務狀況和增長戰略來說是一個變革性的季度。正如我們上個季度所承諾的那樣，我們完成了公司歷史上最大的重組活動之一，使我們能夠以盈利的運行率和專注於加快 B2B 核心業務增長的上市戰略進入第二季度。

Significantly, our restructuring plan did not simply pare back spend for the traditional enterprise sales model. Instead, we eliminated redundancies across sales and customer success and combine those roles with product and engineering talent to ensure the needs of our customers could be efficiently solutions. By bringing customers closer to code, we reduced the meetings, ticketing and scoping that were previously necessary.

值得注意的是，我們的重組計劃並沒有簡單地削減傳統企業銷售模式的支出。相反，我們消除了銷售和客戶成功方面的冗餘，並將這些角色與產品和工程人才結合起來，以確保我們客戶的需求能夠得到有效的解決方案。通過讓客戶更接近代碼，我們減少了以前必需的會議、票務和範圍界定。

In addition, we sharpened our focus on the B2B core by providing transparency into recurring revenue and winding down non-core business lines, including divesting Kasamba, which was the business underlying our Consumer segment since 2007. We also strengthened the balance sheet by retiring at a significant discount, $157.5 million in principal amount of the $230 million in convertible notes maturing in the first quarter of 2024.

此外，我們通過提高經常性收入的透明度和縮減非核心業務線，包括剝離自 2007 年以來一直是我們消費者部門基礎業務的 Kasamba，加強了對 B2B 核心業務的關注。我們還通過退休來加強資產負債表2024 年第一季度到期的 2.3 億美元可轉換票據本金中的 1.575 億美元大幅折扣。

As Rob discussed, our market is evolving rapidly, driven in part by the transformative capabilities of generative AI. The strategy and P&L changes that I just described have also enabled us to reallocate resources in this direction to significantly enhance our broader platform and immediately deliver better business outcomes for our customers. With the generative AI products we launched last week, the rate at which we can automate the consumer experience and reduce costs for our brands in both voice and messaging channels is incredibly exciting.

正如 Rob 所討論的，我們的市場正在迅速發展，部分是由生成 AI 的變革能力推動的。我剛才描述的戰略和 P&L 變化也使我們能夠朝這個方向重新分配資源，以顯著增強我們更廣泛的平台並立即為我們的客戶提供更好的業務成果。借助我們上週推出的生成式 AI 產品，我們在語音和消息渠道中實現消費者體驗自動化並降低品牌成本的速度令人難以置信。

Turning to the first quarter and our results. In the first quarter, we generated revenue of $107.7 million, which was within our guidance range of $106 million to $109 million. However, as discussed last quarter and in Rob's remarks, we divested Kasamba, the business unit underlying the Consumer segment on March 20, which means we did not recognize a full quarter of revenue for Kasamba as contemplated in our prior guidance. Had we recognized the full quarter of Kasamba revenue, our total revenue in the first quarter would have been $109 million at the high end of our guidance range. Given the divestiture, we will discuss expectations for the year on a normalized basis, that is without the impact from Kasamba.

轉向第一季度和我們的結果。第一季度，我們的收入為 1.077 億美元，處於我們 1.06 億美元至 1.09 億美元的指導範圍內。然而，正如上個季度所討論的和 Rob 的言論，我們於 3 月 20 日剝離了消費者部門的業務部門 Kasamba，這意味著我們沒有按照我們之前的指導意見確認 Kasamba 的整個季度收入。如果我們確認整個季度的 Kasamba 收入，我們第一季度的總收入將達到 1.09 億美元，處於我們指導範圍的高端。考慮到資產剝離，我們將在正常化的基礎上討論今年的預期，即不受 Kasamba 的影響。

Excluding revenue from Kasamba, we recognized $100.5 million consistent with the high end of our normalized guidance range, which would have been $98.4 million to $100.4 million. B2B core recurring revenue was approximately 82% of total revenue in the first quarter and also consistent with the high end of our expectations. The improvement in revenue was primarily due to higher B2B core professional services and certain onetime contributions.

不包括來自 Kasamba 的收入，我們確認了 1.005 億美元，這與我們標準化指導範圍的高端一致，即 9840 萬美元至 1.004 億美元。 B2B 核心經常性收入約佔第一季度總收入的 82%，也符合我們預期的上限。收入的增加主要是由於更高的 B2B 核心專業服務和某些一次性貢獻。

Adjusted EBITDA was a loss of $1.3 million, which was better than our expected loss of $8 million to $6 million. In addition to higher B2B revenue, the overperformance in adjusted EBITDA was driven in part by the timing of expenses for sales and marketing and cloud migration, which we do expect to incur in future quarters.

調整後的 EBITDA 虧損 130 萬美元，好於我們預期的 800 萬至 600 萬美元的虧損。除了更高的 B2B 收入外，調整後 EBITDA 的超額表現部分是由於銷售和營銷以及雲遷移費用的時間安排，我們預計這些費用將在未來幾個季度發生。

It was also driven in part by solid execution of our restructuring plan. Before turning to our standard reporting segments for the first quarter, note that these segments still reflect declining revenue contributions from non-core business loans. With a B2B core revenue and expense trough in the first quarter and our restructuring plan fully executed, we expect an inflection point in the second quarter and sequential improvement for the B2B cores for the remainder of the year.

這在一定程度上也得益於我們重組計劃的穩健執行。在轉向我們第一季度的標準報告分部之前，請注意這些分部仍然反映出非核心業務貸款的收入貢獻下降。隨著第一季度 B2B 核心收入和支出的低谷，以及我們的重組計劃的全面執行，我們預計第二季度將出現拐點，並在今年剩餘時間內 B2B 核心業務出現連續改善。

With that said, within total revenue for the first quarter, the B2B core recurring revenue component of hosted declined approximately 4% year-over-year. Revenue for the total B2B segment declined 17% year-over-year and revenue from hosted software declined 25%.

儘管如此，在第一季度的總收入中，託管的 B2B 核心經常性收入部分同比下降了約 4%。 B2B 總收入同比下降 17%，託管軟件收入下降 25%。

As discussed last quarter, the primary drivers of these declines are non-core business lines, including COVID-19 testing, gainshare labor and pandemic-driven gainshare variable revenue. Professional services revenue grew 38% year-over-year, driven in part by the diagnostics projects for the JV that we discussed last quarter.

正如上個季度所討論的，這些下降的主要驅動因素是非核心業務線，包括 COVID-19 測試、收益共享勞動力和大流行驅動的收益共享可變收入。專業服務收入同比增長 38%，部分原因是我們上個季度討論過的合資企業診斷項目。

Finally, the Consumer segment declined 21%. Had we recognized a full quarter of revenue from Kasamba, revenue for the Consumer segment would have declined 6.8% year-over-year. Given the divestiture, we do not expect to report on the consumer segment in future quarters. Again, we will discuss expectations for the year on a normalized basis without the impact from Kasamba in the first quarter. Note that a full reconciliation is provided in the press release.

最後，消費者部門下降了 21%。如果我們確認來自 Kasamba 的整個季度的收入，消費者部門的收入將同比下降 6.8%。鑑於資產剝離，我們預計未來幾個季度不會報告消費者業務。同樣，我們將在第一季度不受 Kasamba 影響的情況下，在標準化的基礎上討論今年的預期。請注意，新聞稿中提供了完整的對帳。

From a geographic perspective, U.S. revenue declined -- U.S. revenue declined 21% year-over-year and international revenue declined 9% year-over-year. Again, the primary drivers for these declines are the non-core business lines that we are winding down.

從地理角度來看，美國收入下降——美國收入同比下降 21%，國際收入同比下降 9%。同樣，這些下降的主要驅動因素是我們正在縮減的非核心業務線。

Net revenue retention was below our target range of 105% to 115% due in part to our focus on restructuring in the first quarter and increased down sales in our SMB and MMB market segments. Again, we expect sequential improvement in the second quarter and going forward.

淨收入保留率低於我們 105% 至 115% 的目標範圍，部分原因是我們在第一季度專注於重組以及我們的 SMB 和 MMB 細分市場的銷售額下降。同樣，我們預計第二季度和未來會出現連續改善。

RPO decreased 18% year-over-year to $368 million, due primarily to the wind-down of non-core business lines, including professional services for the JV. Average revenue per customer was $665,000, up 3% year-over-year. Note that this metric is based on total revenue. So the sequential decline from last quarter is again attributable to the wind down of non-core business lines, including gainshare labor and professional services for the JV.

RPO 同比下降 18% 至 3.68 億美元，這主要是由於非核心業務線的縮減，包括為合資企業提供的專業服務。每個客戶的平均收入為 665,000 美元，同比增長 3%。請注意，此指標基於總收入。因此，上一季度的環比下降再次歸因於非核心業務線的縮減，包括合資企業的收益共享勞動力和專業服務。

In terms of guidance, we achieved our expectations for the first quarter and we remain on target for the year. Given our current visibility into the macro environment, we are reaffirming full year revenue guidance range. Inclusive of Kasamba revenue, the guidance range for the full year is $394 million to $408 million or a decline of 23% to 21% year-over-year.

在指導方面，我們實現了對第一季度的預期，並且我們仍保持今年的目標。鑑於我們目前對宏觀環境的了解，我們重申全年收入指導範圍。包括 Kasamba 收入在內，全年的指導範圍為 3.94 億美元至 4.08 億美元，同比下降 23% 至 21%。

Note that this growth compares to a full year of Kasamba revenue last year. However, normalizing for Kasamba in both periods, removing its impact, our revenue guidance range is $387 million to $401 million or a decline of 19% to 16% year-over-year. We expect B2B core recurring revenue to be approximately 86% to 87% of total revenue for the full year.

請注意，這一增長與去年 Kasamba 的全年收入相比。然而，在兩個時期對 Kasamba 進行標準化，消除其影響，我們的收入指導範圍為 3.87 億美元至 4.01 億美元，即同比下降 19% 至 16%。我們預計 B2B 核心經常性收入將佔全年總收入的 86% 至 87% 左右。

For full year adjusted EBITDA, we are reaffirming our previous guidance range of $15 million to $32 million. As a reminder, part of the overperformance in the first quarter was due to the timing of certain expenses that we expect to recognize later in the year.

對於全年調整後的 EBITDA，我們重申之前的指導範圍為 1500 萬至 3200 萬美元。提醒一下，第一季度的超額表現部分是由於我們預計將在今年晚些時候確認的某些費用的時間安排。

Additionally, it is not necessary to normalize our adjusted EBITDA range for the impact of Kasamba because no material contribution was originally expected. As for the second quarter, our guidance range for revenue is $95 million to $99 million or a decline of 23% to 20% year-over-year. Note that the recurring revenue component of total revenue in the second quarter is expected to be approximately 87%. This implies a 2% positive growth sequentially from the first quarter.

此外，沒有必要針對 Kasamba 的影響對我們調整後的 EBITDA 範圍進行標準化，因為最初預計不會有實質性貢獻。至於第二季度，我們的收入指導範圍為 9500 萬美元至 9900 萬美元，同比下降 23% 至 20%。請注意，第二季度經常性收入佔總收入的比例預計約為 87%。這意味著從第一季度開始連續 2% 的正增長。

As a reminder, the sequential decline in total revenue from the first quarter is due primarily to professional services revenue for the JV that is not expected to continue in addition to lower gainshare labor revenue.

提醒一下，第一季度總收入的環比下降主要是由於合資企業的專業服務收入預計不會繼續增加，此外還有較低的收益分享勞動力收入。

As for adjusted EBITDA in the second quarter, our guidance range is $3 million to $7 million or a margin of 3% to 7%. Once again, with the restructuring behind us, we have reached an inflection point in the second quarter and expect sequential improvement in profitability for the remainder of the year.

至於第二季度調整後的 EBITDA，我們的指導範圍是 300 萬至 700 萬美元，即 3% 至 7% 的利潤率。再一次，隨著重組的結束，我們在第二季度達到了拐點，預計今年剩餘時間的盈利能力將持續改善。

Finally, WildHealth growth rate in the first quarter was consistent with the expectations we set last quarter for its core revenue to double for the full year 2023.

最後，WildHealth 第一季度的增長率與我們上個季度設定的 2023 年全年核心收入翻番的預期一致。

Before taking questions, I'd like to emphasize several key themes. Solid execution of the restructuring plan that we discussed last quarter has enabled us to reach an inflection point for the B2B core revenue and profitability. After troughing in the first quarter, we expect profitable growth in the second quarter and sequential improvement going forward.

在回答問題之前，我想強調幾個關鍵主題。我們上個季度討論的重組計劃的紮實執行使我們能夠達到 B2B 核心收入和盈利能力的拐點。在經歷了第一季度的低谷後，我們預計第二季度將實現盈利增長，並在未來實現連續改善。

Our line of sight to profitable growth is a function of 3 primary factors: first, a narrowed focus on our B2B core, coupled with rapidly growing enterprise demand for AI-driven transformation. Second, and more efficient and capable sales and marketing organization with integrated product and engineering support to deliver hands-on AI expertise to our customers. And third, generative AI enhancements across the platform, including in both voice and messaging channels with the necessary guardrails and back end integrations to deliver better business outcomes with the enterprise today.

我們對盈利增長的看法取決於三個主要因素：首先，對我們 B2B 核心的關注範圍縮小，加上企業對人工智能驅動轉型的需求快速增長。其次，更高效、更有能力的銷售和營銷組織，具有集成的產品和工程支持，可以為我們的客戶提供實踐 AI 專業知識。第三，跨平台的生成 AI 增強，包括語音和消息傳遞渠道，具有必要的護欄和後端集成，可為當今的企業帶來更好的業務成果。

And with that, operator, I'll pass it back to you for questions.

有了這個，接線員，我會把它傳回給你提問。

(Operator Instructions) And our first question comes from the line of Siti Panigrahi with Mizuho.

（操作員說明）我們的第一個問題來自 Siti Panigrahi 與 Mizuho 的合作。

This is actually Dan on for Siti. Can you just provide some additional color on the magnitude of the expense timing impact in Q1 and perhaps what that relates to?

這實際上是 Dan 對 Siti 的支持。您能否就第一季度費用時間影響的大小以及可能與之相關的內容提供一些額外的顏色？

Yes. The restructuring event that occurred in the first quarter was the largest over the course of the last 12 months. As you may know, we've been rationalizing our cost structure since we entered 2022, and that culminated really in the first quarter.

是的。第一季度發生的重組事件是過去 12 個月中最大的一次。如您所知，自進入 2022 年以來，我們一直在合理化成本結構，並在第一季度達到高潮。

The key areas of consolidation and expense reduction were in our go-to-market organization and in part, our technology organization as it relates to areas of the platform that we no longer need to support. The respective run rate for us in the second quarter, again, as a result of that restructuring, flipped us from a loss to a gain going forward.

整合和削減開支的關鍵領域是我們的上市組織，部分是我們的技術組織，因為它與我們不再需要支持的平台領域相關。由於重組，我們在第二季度的相應運行率再次使我們從虧損轉為盈利。

Got you. And I guess just on the go-to-market consolidation, is it possible to provide more detail on that, maybe your sales capacity going forward and if that will allow you to reaccelerate revenue growth beyond this transition period?

明白了我想就上市整合而言，是否有可能提供更多細節，也許是你未來的銷售能力，以及這是否會讓你在這個過渡期之後重新加速收入增長？

Yes. I mean...

是的。我是說...

I think broadly -- go ahead, Rob.

我認為廣泛 - 繼續，Rob。

No, go ahead, John.

不，繼續，約翰。

Broadly, the restructuring allowed us to rightsize the organization. And we have come away with a more efficient sales and marketing organization, coupled with our product and engineering resources that allow us to be more responsive to the demand of our base today. And I think as we look forward, we'll hire we'll hire according to the rate at which we continue to build pipe and respond to demand. So I think we're well positioned today to be responsive.

從廣義上講，重組使我們能夠調整組織規模。我們擁有一個更高效的銷售和營銷組織，加上我們的產品和工程資源，使我們能夠更好地響應當今基地的需求。而且我認為，當我們展望未來時，我們將根據我們繼續建造管道和響應需求的速度僱用我們。所以我認為我們今天處於有利地位，可以做出回應。

Yes. We also because of the nature of where the business is and our focus on the acceleration of the AI, obviously, we did messaging them 5 years ago, we added the automation, but now it's all AI, and I can double click on what that really means for us as a company, but we did a heavy restructuring around the customer success forward. And we ended up creating a new org it's called LP1, and it's led by product and engineering.

是的。我們還因為業務所在的性質以及我們對 AI 加速的關注，顯然，我們在 5 年前向他們發送消息，我們添加了自動化，但現在都是 AI，我可以雙擊那個對我們公司來說確實意味著，但我們圍繞客戶成功進行了重大重組。我們最終創建了一個名為 LP1 的新組織，由產品和工程部門領導。

And so in the past, we have more relationship managers, our customers want experts around AI and automation. So we did this big restructuring and removed a lot of those pieces then we took product heads that are really key to the company, but now they're running customer-facing operations, then we're pairing that with client partners that are really instrumental in driving revenue.

所以在過去，我們有更多的關係經理，我們的客戶需要人工智能和自動化方面的專家。所以我們進行了這次大規模的重組，去掉了很多這樣的部分，然後我們聘請了對公司來說非常關鍵的產品負責人，但現在他們正在運行面向客戶的業務，然後我們將其與真正有幫助的客戶合作夥伴配對在推動收入方面。

So I think we're going to have a much better result in driving usage on the platform. But the bottom line is if you're going to show up as an AI company, you got to show up with product and engineering folks versus the traditional customer success folks.

所以我認為我們將在推動平台使用方面取得更好的結果。但最重要的是，如果你要以 AI 公司的身份出現，你必須與產品和工程人員一起出現，而不是傳統的客戶成功人員。

The next question comes from the line of Peter Levine with Evercore ISI.

下一個問題來自 Evercore ISI 的 Peter Levine。

This is (inaudible) on for Peter Levine. I wanted to ask how you might be thinking about capital allocation for the remainder of the 2024 convertible notes as well as the longer-term notes you have?

這是 Peter Levine 的（聽不清）。我想問您如何考慮 2024 年剩餘可轉換票據以及您擁有的長期票據的資本配置？

Sure. Again, we retired all about $73 million of the 2024 notes. As we discussed in the prepared remarks, we expect to continue to accelerate profitability going forward and be cash flow positive exiting the year. So the balance of cash that we expect to end the year with will be more than adequate to both satisfy the remaining $73 million in notes and of course, have ample operating capital to run the business. Do you have a follow-up?

當然。同樣，我們收回了 2024 年票據中的全部約 7300 萬美元。正如我們在準備好的評論中所討論的那樣，我們預計將繼續加速未來的盈利能力，並在今年結束時保持現金流為正。因此，我們預計今年年底的現金餘額將足以滿足剩餘的 7300 萬美元票據，當然還有充足的運營資金來運營業務。你有跟進嗎？

And the next question comes from the line of Jeff Van Rhee with Craig-Hallum Capital.

下一個問題來自 Jeff Van Rhee 與 Craig-Hallum Capital 的合作。

So a couple of questions for me. I guess, Rob, one of the questions I get quite often. I know you're focusing more on the core businesses and trying to get away from distractions, and one of the businesses that I think most people I speak with don't find a tight fit with is WildHealth.

所以有幾個問題要問我。我想，Rob，這是我經常收到的問題之一。我知道你更多地關注核心業務並試圖擺脫干擾，我認為與我交談過的大多數人都覺得不適合的業務之一是 WildHealth。

So when you look at that business, different end users, different sales model, et cetera. I didn't hear a lot in the prepared script here this quarter, but just talk about your thinking and how that remains a core product, given the differences between that and, say, the core messaging B2B customer care offering.

因此，當您查看該業務時，不同的最終用戶、不同的銷售模式等等。本季度我在準備好的腳本中沒有聽到太多，但只是談談你的想法以及它如何保持核心產品，考慮到它與核心消息傳遞 B2B 客戶服務產品之間的差異。

Yes. I mean we have a large group of health care companies in our core. And if you go back to what that is, it's a platform play. And as a matter of fact, they're working on some larger deals with health care providers to use that platform to drive scale in health care outcomes.

是的。我的意思是我們的核心擁有一大批醫療保健公司。如果你回到那是什麼，這是一個平台遊戲。事實上，他們正在與醫療保健提供者進行一些更大的交易，以使用該平台來推動醫療保健成果的規模。

So it was always looked at is like if you want to go into health care, there's a lot of expertise you need in that area, especially around regulatory and things, but they built a pretty tremendous platform. And now we've incorporated all the large language models so we can scale how a doctor or a health care coach can service customers at a different scale than normal.

因此，人們總是認為，如果你想進入醫療保健領域，你需要在該領域擁有很多專業知識，尤其是在監管和其他方面，但他們建立了一個非常巨大的平台。現在我們已經整合了所有大型語言模型，因此我們可以擴展醫生或醫療保健教練如何以不同於正常規模的規模為客戶提供服務。

So for us, obviously, it's growing very, very large. Health care and AI, if you look at any other company out there on the tech side, they've got an investment in health care, almost all of them. And it's important as an investment -- and I think in the future, we'll see some pretty massive returns with that product.

所以對我們來說，很明顯，它正在變得非常非常大。醫療保健和人工智能，如果你看看其他任何一家技術方面的公司，他們幾乎都在醫療保健領域進行了投資。這作為一項投資很重要——我認為在未來，我們會看到該產品帶來相當可觀的回報。

But once again, it's -- we should look at it as a vertical play today. I think later on in the year, we'll be able to give some perspective on doing deals with these larger health care providers, which I think will allow the shareholders to get a better sense of how it plays into our overall strategy.

但再一次，我們今天應該將其視為垂直遊戲。我認為在今年晚些時候，我們將能夠就與這些較大的醫療保健提供商進行交易給出一些看法，我認為這將使股東更好地了解它如何在我們的整體戰略中發揮作用。

Okay. And then on the core business around the core B2B, understanding you're really leaning in on the AI side. But until that takes hold and as I look at like the Q1 performance, talk about the competitive landscape for the core B2B messaging offering. You were early to get there with automations. It looks like the AI/automation rates were relatively flat this quarter. That, for a while, felt like you had clear sort of best-in-class platform.

好的。然後圍繞核心 B2B 的核心業務，了解你真的傾向於人工智能方面。但在這一點站穩腳跟之前，當我看到第一季度的表現時，談談核心 B2B 消息傳遞產品的競爭格局。你很早就有了自動化。看起來本季度人工智能/自動化率相對持平。有一段時間，感覺就像您擁有一流的平台。

But the momentum on the booking side revenue growth, I think you gave the NRR was below the 105% to 115% this quarter. just talk more in detail about what's going on with that? Are you winning your share? You're just not getting it in enough deals? Why is that business not growing more?

但預訂方面的收入增長勢頭，我認為你給出的 NRR 本季度低於 105% 至 115%。只是更詳細地談談那是怎麼回事？你贏得了你的份額嗎？你只是沒有得到足夠的交易？為什麼該業務沒有增長更多？

I think it comes down to our focus. If I can go back and change things, obviously, the things we -- our customers got us into and we unwound and the restructurings that we did to get profitable. It's a focus to take out the amount of expenses we took out in 12 months to be here, and the team did a great job at that, and that wasn't easy.

我認為這取決於我們的重點。如果我能回去改變事情，很明顯，我們——我們的客戶讓我們進入並解散的事情，以及我們為獲利而進行的重組。將我們在 12 個月內花費的費用拿出來是一個重點，團隊在這方面做得很好，這並不容易。

Obviously, the focus now is growth again. We're still signing large logos and large banks and all data. We signed renewals with some of the largest banks in the world, even though we're in the middle of generative AI, and it's because they trust us. So I think what we need to just show the world is that we'll get back to growth. But we shouldn't marginalize all the efforts it took to restructure the business over the last 12 months and the focus it took to do that and to execute on that.

顯然，現在的重點再次是增長。我們仍在簽署大型徽標和大型銀行以及所有數據。我們與世界上一些最大的銀行簽署了續約協議，即使我們正處於生成人工智能的中間，這是因為他們信任我們。所以我認為我們需要向世界展示的是我們將恢復增長。但我們不應該忽視過去 12 個月為重組業務所做的所有努力，以及重組和執行重組的重點。

And so obviously, the quarters going forward will be the judgment on how we can execute and grow the company. But I think we're in the right place, and we still have the gold standard of that platform. And now adding in all that technology, we just launched, which is GA will help us sort of grow. So that's our focus now. That's our 1 focus. We don't have to worry about restructuring anything anymore. We're done with that. That's behind us.

很明顯，未來幾個季度將是對我們如何執行和發展公司的判斷。但我認為我們來對地方了，我們仍然擁有該平台的黃金標準。現在加入我們剛剛推出的所有技術，GA 將幫助我們成長。所以這是我們現在的重點。這是我們的第一個重點。我們不必再擔心重組任何事情。我們已經完成了。那是在我們身後。

Jeff, I just want to add to the NRR comment that while we're below the range, the primary reason for that was increased attrition down market in small business and mid-market segments, in particular, as we restructured and focused on the demands of our enterprise and, of course, made it through the distraction of the restructuring.

傑夫，我只想補充一下 NRR 的評論，雖然我們低於該範圍，但主要原因是小型企業和中端市場細分市場的流失率增加，特別是當我們重組並專注於需求時我們的企業，當然，通過重組的分心做到了。

And we think going forward that the down market -- that lower end of the market would be better served by the enhanced product usability and platform self-service that you may have seen we launched last week. So we think there's upside there as we move forward down market. And then of course, within the core of enterprise, it remains strong.

我們認為，展望未來，低端市場——您可能已經看到我們上週推出的增強產品可用性和平台自助服務將更好地服務於低端市場。因此，我們認為隨著我們向下市場前進，那裡有上行空間。當然，在企業的核心內部，它仍然很強大。

Given the scale really lies in the enterprises, would you expect the automation rates, the percent of messages being automated to rise? Or how should we think about that number going forward?

鑑於規模確實取決於企業，您是否期望自動化率、自動化消息的百分比會上升？或者我們應該如何考慮未來的數字？

Yes, that's going to be that's the big thing. There's no more bot building. Like as of last week, we don't have to build bots anymore. And the ability to automate conversations, especially the long tail is there. I think I gave an example, maybe on the last call, I did.

是的，這將是一件大事。沒有更多的機器人構建。就像上週一樣，我們不必再構建機器人了。還有自動對話的能力，尤其是長尾巴。我想我舉了一個例子，也許在最後一次通話中，我做到了。

But we looked at all the airlines that we have when we started to use the large language models to look at conversations that were happening with agents. And believe it or not, there are a bunch of conversations about bringing like an iguana on a plane. Now you would never build a bot around the intent iguana.

但是當我們開始使用大型語言模型來查看與座席發生的對話時，我們查看了我們擁有的所有航空公司。不管你信不信，關於帶鬣蜥上飛機的話題有很多。現在你永遠不會圍繞意圖 iguana 構建機器人。

But on our airlines, people are asking, can I bring in iguana, and we can handle that now with the models because it basically is just looking at the data set. So the rate of automation is going to really increase. The second part of that is that the actions that we can do on the platform, the automations are only as good as they do actions.

但是在我們的航空公司，人們問，我可以帶鬣蜥嗎，我們現在可以用模型來處理這個問題，因為它基本上只是在查看數據集。所以自動化的速度真的會提高。第二部分是我們可以在平台上執行的操作，自動化只和它們執行的操作一樣好。

And we've got all these integrations already. So these should be done at a very high rate. And especially on the voice side, I really -- I want to finish what we set out to do, which is get rid of traditional voice and with our voice AI launch, that's where we'll be focused on.

我們已經有了所有這些集成。所以這些應該以非常高的速度完成。尤其是在語音方面，我真的——我想完成我們打算做的事情，即擺脫傳統語音，並推出我們的語音 AI，這是我們將關注的重點。

Okay. And then last one, just, John, I think you mentioned you covered a lot of ground there really quickly, but I think you mentioned there were some onetime items that affected revenues, and I think you were talking about B2B?

好的。最後一個，約翰，我想你提到你很快就覆蓋了很多領域，但我想你提到有一些一次性項目會影響收入，我想你是在談論 B2B？

Yes. In general, those are pretty small. The largest contribution for the first quarter was really core B2B professional services being up. And then in terms of onetime items, there's some catch-ups normal to big enterprise deals that we also recognized in the quarter.

是的。一般來說，這些都非常小。第一季度最大的貢獻實際上是核心 B2B 專業服務的興起。然後就一次性項目而言，我們在本季度也認識到了大型企業交易的一些正常現象。

(Operator Instructions) And our next question comes from the line of Zach Cummins with B. Riley.

（操作員說明）我們的下一個問題來自 Zach Cummins 和 B. Riley 的對話。

John, could you talk a little bit more about the adjusted EBITDA upside here in Q1? It sounds like there were maybe some costs that were delayed versus when you were previously expecting?

約翰，你能多談談第一季度調整後的 EBITDA 上升空間嗎？聽起來有些成本可能比您之前預期的要延遲？

Sure. Zach, in the first quarter, we had previously expected more marketing expense, for example, which ended up not being necessary for variety of reasons that we fully expect to deploy later in the year. That's a significant component.

當然。扎克，在第一季度，我們之前預計會有更多的營銷費用，例如，由於我們完全預計在今年晚些時候部署的各種原因，這些費用最終沒有必要。這是一個重要的組成部分。

And then as we continue what is a complex migration to the cloud, there is expense that we expect to hit later in the year as well that did not occur in the first quarter. So those are the 2 primary drivers.

然後，隨著我們繼續向雲進行複雜的遷移，我們預計今年晚些時候也會出現第一季度沒有發生的費用。所以這些是兩個主要驅動因素。

Got it. Understood. And Rob, just from your launch event of all your new AI solutions, it sounds like some pretty interesting opportunities if you can expand into HR and IT use cases. It sounds like you have a few customers that have gone down that route. Can you give any sort of early feedback that you've gotten from customers as you expand beyond just customer carrier with your AI platform?

知道了。明白了。 Rob，從你所有新人工智能解決方案的發布活動來看，如果你能擴展到人力資源和 IT 用例，這聽起來像是一些非常有趣的機會。聽起來您有一些客戶已經走上了這條路。當您使用 AI 平台擴展到客戶運營商之外時，您能否提供從客戶那裡獲得的任何類型的早期反饋？

Yes. One of the -- there's 2 parts to our platform. One is called knowledge AI and the other one is obviously the large language models and the ability to generate the outcomes. But we now have the ability to put in like PDF documents, knowledge-based -- we've had this previously, but we enhanced it for the models.

是的。其中之一——我們的平台有兩個部分。一個叫做知識人工智能，另一個顯然是大型語言模型和生成結果的能力。但是我們現在有能力放入基於知識的 PDF 文檔——我們以前有過這個，但我們為模型增強了它。

So you can take in all that data. It could be an employee handbook. It can be all of that, and you can put it into our platform and then instantly it gets prepared for the models. And when you look at all the tooling that you have to do to make generative AI work, it's real tooling.

所以你可以接受所有這些數據。它可以是員工手冊。它可以是所有這些，您可以將其放入我們的平台，然後立即為模型做好準備。當您查看使生成式 AI 工作所需的所有工具時，它是真正的工具。

And especially around the data side, if you just put the data in the data could be formatted in a way that the model won't understand it. So we built a process for the model to understand that. So it opens up those use cases. And we already have a handful of large customers who use it for that, who have built automations on that.

尤其是在數據方面，如果您只是將數據放入數據中，則可能會以模型無法理解的方式對其進行格式化。所以我們為模型建立了一個過程來理解這一點。所以它打開了那些用例。我們已經有一些大客戶使用它，並在此基礎上建立了自動化。

But I think the power and if you were watching the event last week, the journey to be an AI company from a Conversational AI company is one. And the first thing we're going to release in about 8 weeks from now is a new interface to the data set. And this will allow anyone in the company to ask questions of the conversational data that we store.

但我認為，如果你上週觀看了這次活動，那麼從一家對話式人工智能公司到成為一家人工智能公司的旅程就是其中之一。我們將在大約 8 週後發布的第一件事是數據集的新界面。這將允許公司中的任何人對我們存儲的對話數據提出問題。

So imagine a person in marketing can say, like, tell me why people are not happy with this product today? Tell me like what's the best marketing campaign that I could build to sell this type of product? And that access to that data and then what we're hearing is our customers want to put more data inside there, maybe Medallia surveys and other things. This kind of shifts us into a different place when it comes to our -- to doing AI in the enterprise, but that could be in the HR side, it could be in the IT help desk side.

想像一下，市場營銷人員可以說，比如，告訴我為什麼人們今天對這款產品不滿意？告訴我，為了銷售此類產品，我可以開展的最佳營銷活動是什麼？訪問這些數據，然後我們聽到的是我們的客戶希望將更多數據放在那裡，也許是 Medallia 調查和其他東西。當涉及到我們在企業中進行 AI 時，這將我們轉移到一個不同的地方，但這可能是在人力資源方面，也可能是在 IT 服務台方面。

So obviously, we have a focus on continuing down the path of customer engagement. But that data set is important and the ability to put more data into the platform to go other use cases is also important. So that's what they can do today. And that's what's exciting about our strategy and what I think is very different from what people are trying to do out there.

很明顯，我們的重點是繼續沿著客戶參與的道路前進。但該數據集很重要，將更多數據放入平台以用於其他用例的能力也很重要。這就是他們今天能做的。這就是我們的戰略令人興奮的地方，也是我認為與人們在那裡嘗試做的非常不同的地方。

And the next question comes from the line of Arjun Bhatia with William Blair.

下一個問題來自 Arjun Bhatia 和 William Blair 的對話。

This is Chris on for Arjun. The first one for me, I wanted to get your take on the evolution of the competitive landscape going forward with generative AI becoming more and more common. So how to think about LivePerson's source of competitive advantage has always make interacting with businesses through chat and natural language more accessible than ever.

這是 Arjun 的 Chris。第一個對我來說，我想讓你了解隨著生成人工智能變得越來越普遍，競爭格局的演變。因此，如何思考 LivePerson 的競爭優勢來源始終使通過聊天和自然語言與企業互動比以往任何時候都更容易。

Yes. So if you look at how it's -- I think it's going to play out pick the next couple of months and then years, what the enterprise is looking for right now is safety and security. And so they want to start using this stuff tomorrow, but they need it on platforms that will allow them to adhere to the ideas of data sovereignty and security around that.

是的。因此，如果你看看它是如何——我認為它會在接下來的幾個月和幾年內發揮作用，企業現在正在尋找的是安全和保障。所以他們想明天開始使用這些東西，但他們需要在允許他們堅持數據主權和安全理念的平台上使用它。

We've already provided that. So for us, it's kind of like 1 click and we're guaranteeing that using these models are going to be done in a way that adheres to the principles of the enterprise, especially around data. So that's the 1 part.

我們已經提供了。所以對我們來說，這有點像一次點擊，我們保證將以符合企業原則的方式使用這些模型，尤其是圍繞數據。這就是第 1 部分。

The second part is what is an enterprise AI company and what is it going to look like? And someone is -- and I think that play is interesting, which is that there'll be these desktops in the entire organization, and they're going to use this technology to generate business outcomes, what I believe could win the day, and this is our strategy is that it starts with the data set.

第二部分是什麼是企業人工智能公司，它會是什麼樣子？有人是 - 我認為這種遊戲很有趣，那就是整個組織中都會有這些桌面，他們將使用這種技術來產生業務成果，我相信這會贏得勝利，並且這是我們的策略，它從數據集開始。

OpenAI gives you the data set of the Internet, and that's there. But the most valuable data set to the enterprise is the customers and the customer conversations. We go to work to understand our customers better. And so what I see in the upcoming years is the data set. And if you want to judge who could potentially win this horse race, it's who's got the best data set to generate a business outcome. And so for us, we're sitting on one of the best data sets.

OpenAI 為您提供了互聯網的數據集，就在那裡。但對企業最有價值的數據集是客戶和客戶對話。我們努力工作是為了更好地了解我們的客戶。因此，我在未來幾年看到的是數據集。如果你想判斷誰有可能贏得這場賽馬，那就是誰擁有最好的數據集來產生業務成果。所以對我們來說，我們擁有最好的數據集之一。

You can ask the customers' questions. It's interesting, like in your real time, you say, like ask the customers, what do you want from me? And I think that has a power to it, and it's unique to us. So there's other -- you have Salesforce out there now, obviously, using it, what they're doing with their data set, which is CRM data.

你可以問客戶的問題。這很有趣，就像在你的實時，你說，就像問客戶，你想從我這裡得到什麼？而且我認為它有力量，它對我們來說是獨一無二的。所以還有其他 - 你現在有 Salesforce，顯然，使用它，他們正在用他們的數據集做什麼，這是 CRM 數據。

They have a lot of that. They do have some customer care. They have very limited conversational data like we do. There are voice companies out there, and I think they're the most susceptible for change because they have voice data, some of it's transcripted, but a lot of it just remains in the voice files.

他們有很多。他們確實有一些客戶服務。他們像我們一樣擁有非常有限的對話數據。那裡有語音公司，我認為他們最容易發生變化，因為他們有語音數據，其中一些是轉錄的，但很多只是保留在語音文件中。

So I think you got to think about the language models become -- not commoditized, but we'll have our own soon. We're using others. I think the brands will create their own depending on the data set. And then the data sets themselves become the competitive weapon to being pervasive.

所以我認為你必須考慮語言模型——不是商品化的，但我們很快就會有自己的。我們正在使用其他人。我認為品牌將根據數據集創建自己的品牌。然後數據集本身成為無處不在的競爭武器。

So I think over the next 5 years or so, the winners could be these people who have these data sets. And I also think the acquisition model, there may be M&A in the future around data sets where do we get our hands on better data sets to generate those business outcomes. And so that's kind of how I see it playing out.

所以我認為在接下來的 5 年左右，贏家可能是這些擁有這些數據集的人。而且我還認為收購模型，未來可能會圍繞數據集進行併購，我們在哪裡可以獲得更好的數據集來產生這些業務成果。所以這就是我看到它的方式。

Yes, Chris, I just want to underscore a key point that Rob made, which is that today, there's billions of dollars spent by our enterprise brands on agents to field voice calls. And that's often the case because the intent, the desire that the consumer has to get resolved with the brand is in the long tail, not easily automated on yesterday's technology. That's no longer the case.

是的，克里斯，我只想強調 Rob 提出的一個關鍵點，那就是今天，我們的企業品牌花費了數十億美元在座席上進行語音通話。通常情況就是這樣，因為消費者必須通過品牌解決的意圖和願望是長尾的，不容易在昨天的技術上實現自動化。情況不再如此。

And we're very well positioned given our platform that's heavily integrated into the back-end systems of the brands today to deploy generative AI to drive business outcomes today, to kind of transform the cost structure that our brands currently have to run the service centers and even to provide support on sales.

考慮到我們的平台已高度集成到當今品牌的後端系統中，以部署生成人工智能來推動當今的業務成果，從而改變我們的品牌目前運營服務中心的成本結構，我們處於非常有利的位置甚至提供銷售支持。

So the positioning we have at this moment in time as the data, as Rob said, but also the integrations and the processes that we've been refining for decades to help brands take costs out of their contact centers. And that's something that we can deploy and have deployed already as of last week.

因此，正如 Rob 所說，我們目前作為數據的定位，還有我們幾十年來一直在改進的集成和流程，以幫助品牌從他們的聯絡中心中降低成本。這是我們可以部署的東西，並且截至上週已經部署了。

And then just 1 other thing I want to touch on the tentative AI topic. Where do you expect that you would see kind of a short-term tailwind show up in the business? I know last quarter, you talked a little bit about an uptick in demo volumes, kind of as customer retention is shifted towards things like Open AI. Have you seen that translate to increased deal flow or sustain pipeline growth.

然後我想談談關於暫定 AI 主題的另一件事。您預計您會在哪裡看到業務中出現短期順風？我知道上個季度，你談到了演示量的上升，有點像客戶保留轉向 Open AI 之類的東西。您是否看到這轉化為增加的交易流量或維持管道增長。

Yes. The short-term wins I see is that, obviously, the one we're turning on like immediately is what we call the making the agents more efficient. So the agents don't have to type anymore. And that's actually the easiest, safest way to deploy this technology, and we're opening that up, that's on the platform now and every customer can do that.

是的。我看到的短期勝利是，很明顯，我們立即開啟的就是我們所說的讓代理更有效率。因此代理人不必再打字了。這實際上是部署這項技術最簡單、最安全的方式，我們正在開放它，現在就在平台上，每個客戶都可以這樣做。

Also, there's like summarizations of conversations normally at the manual process. So now it automatically happens so that agents spend 45 minutes to 1 hour a day, basically summarizing the conversations they had. And we already have this technology, but it's enhanced with the large language model. So that's the easiest one.

此外，在手動過程中通常會有對話摘要。所以現在它會自動發生，因此座席每天花費 45 分鐘到 1 小時，基本上總結他們的對話。我們已經擁有這項技術，但它通過大型語言模型得到了增強。所以這是最簡單的。

The second one is automating the conversations fully. And so that's the next part. And that's also -- there's some low-hanging fruit in there. And then I actually think the greatest low-hanging fruit, which will be out in a couple of weeks, is this concept that more than -- is the platform we're putting out, we call [ballot] for business, which is the ability for the organization to ask questions of their data and that's a safe thing to do.

第二個是完全自動化對話。這就是下一部分。那也是——那裡有一些唾手可得的果實。然後我實際上認為最容易實現的成果，將在幾週內出現，這個概念不僅僅是 - 我們推出的平台，我們稱之為商業[投票]，這是組織詢問其數據問題的能力，這是安全的事情。

Like you can just ask questions and get outcomes and a marketer could ask questions of their conversational data to understand how to market better. And that's an easy no-brainer. So I think there's some sort of base hits that we can get.

就像您可以提出問題並獲得結果一樣，營銷人員可以就他們的對話數據提出問題以了解如何更好地進行營銷。這很簡單，無需動腦筋。所以我認為我們可以獲得某種基本命中率。

Ultimately, the home run is we automate the contact center at like an 80% volume, and there's no -- it is -- only 20% of that is with humans or humans in the loop. And then the other part is we become very pervasive in providing the generative AI platform that every organization can use to do business outcomes like HR and all that, that's what we're playing for right now.

最終，本壘打是我們以大約 80% 的數量使聯絡中心自動化，而且沒有——它是——只有 20% 是與人或人在環路中。然後另一部分是我們在提供生成人工智能平台方面變得非常普遍，每個組織都可以使用該平台來實現人力資源等業務成果，這就是我們現在正在努力的目標。

We have reached the end of our call today. And I'll now turn the call back over to Rob LoCascio for any closing remarks.

我們今天的通話結束了。現在，我將把電話轉回給 Rob LoCascio，聽取任何結束語。

Yes. So I obviously started the company in '95 and in '97 invented Chat and obviously, it's ChatGPT and everything is around this interface. The vision of the company has always been around that these conversational interfaces with power commerce, care and everything else, we've been singularly focused on it for many years. Our time has sort of came.

是的。所以我顯然是在 95 年創辦了公司，並在 97 年發明了 Chat，顯然，它是 ChatGPT，一切都圍繞著這個界面。公司的願景一直圍繞著這些與電力商務、護理和其他一切的對話界面，我們多年來一直專注於此。我們的時代快到了。

And I know we're all trying to figure out. I wish we were here without all the restructuring, and that creates a certain noise and uncertainty, but we're here. And we bet to be here, and there's probably a handful of us in the world. When you think about is probably 10 of us in the world that actually can say that they can deliver this technology and this revolution into brands.

我知道我們都在努力弄清楚。我希望我們在這裡沒有所有的重組，這會產生一定的噪音和不確定性，但我們在這裡。我們打賭會在這裡，世界上可能只有少數人。當你想到世界上可能有 10 個人實際上可以說他們可以將這項技術和這場革命轉化為品牌。

And like I said in 1 way, I wish we didn't have to do the restructuring and a lot of companies went through this because it'd be a cleaner story. But we're here. And we're here with 1 of the best products in the world and platforms. We've always been a leader at that.

就像我用一種方式說的那樣，我希望我們不必進行重組，很多公司都經歷過這種重組，因為這會是一個更清晰的故事。但我們在這裡。我們在這裡擁有世界上最好的產品和平台之一。我們一直是這方面的領導者。

So right now, when I think about our focus, it's really in 2 areas. One is we need to finish up what we started. I talked about killing the 800 number and all of that, and we need to complete that mission and we will now with our voice AI products. And the second is, we need to take this platform and use our data set as a way to leverage and apply it to other business areas like marketing and sales even HR.

所以現在，當我考慮我們的重點時，它實際上在兩個領域。一是我們需要完成我們開始的工作。我談到了消滅 800 號碼和所有這些，我們需要完成這個任務，我們現在將使用我們的語音 AI 產品。第二個是，我們需要利用這個平台並使用我們的數據集來利用它並將其應用於其他業務領域，例如營銷和銷售甚至人力資源。

So that's what we're focused on as a company. The large language models in generate AI just gives us an accelerate. But we always have the vision. We're not chasing something right now, we were one of the pioneers in how this could work. So as shareholders, I'm excited for the next couple of quarters and how our company will get focused back on growth how we'll get focused on continuing on our missions of providing conversational AI and then generative AI to the enterprise.

這就是我們作為一家公司所關注的。生成 AI 中的大型語言模型只是給了我們一個加速。但我們始終有遠見。我們現在不是在追求什麼，我們是這方面的先驅之一。因此，作為股東，我對接下來的幾個季度感到興奮，我們的公司將如何重新專注於增長，我們將如何專注於繼續我們的使命，即為企業提供對話式 AI，然後是生成 AI。

And ultimately, I think that leads us to being the largest enterprise AI company in the world. And that's the bet we're making right now. So thank you for the support, and we'll see you next quarter. Thank you, operator.

最終，我認為這會讓我們成為世界上最大的企業人工智能公司。這就是我們現在所做的賭注。因此，感謝您的支持，我們下個季度見。謝謝你，運營商。

Thank you. This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation, and have a great day.

謝謝。今天的電話會議到此結束。此時您可以斷開線路。感謝您的參與，祝您有美好的一天。