LivePerson Inc. (NASDAQ:LPSN) Q3 2020 Earnings Conference Call - Final Transcript

Oct 29, 2020 • 05:00 pm ET

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LivePerson Inc. (NASDAQ:LPSN) Q3 2020 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

[Operator Instructions]

Executive
Robert LoCascio

Hello, operator?

Operator
Operator

Yes, Sir?

Executive
Robert LoCascio

I'll shift to the Skype because my normal connection is not good. So I'll switch over to Skype. It's Robert.

Operator
Operator

I'll open that up in a second. Thank you. [Operator Instructions] Our first question is from Arjun Bhatia with William Blair. Please go ahead.

Analyst
Arjun Bhatia

Can you hear me all right?

Executive
John Collins

We can hear you.

Analyst
Arjun Bhatia

Perfect. Thanks for taking my question. Maybe I just want to start off with the new IT customers, the existing field dynamic. It seems like the existing deals continue -- listing customer deals continue to be strong and new deals are down from last year. Can you maybe just maybe help us understand what's going on there? And how -- what we can expect going into Q4 and 2021 on the new customer front?.

Executive
John Collins

Yes. Hi, Arjun. I'd reiterate that from a value perspective, we're up significantly, as I described. And within the enterprise, contract signings are actually up year-over-year as well. So we are seeing continued improvement in the ability to capture new logos. And as we've previously signaled, that's an area that we continue to build on through the pandemic.

Analyst
Arjun Bhatia

Got it. And then I just want to maybe dig into the Infosys partnership a little bit more. Can you just give us some more details on what the growth opportunity is that, that partnership unlocks and maybe the size of the practice that Infosys is planning to roll out with LivePerson? And maybe any thoughts on the cadence of when we should expect this partnership to start driving the results? That would be great.

Executive
John Collins

Sure. So generally, I mean, Infosys is a massive organization, systems integrator with a huge roster of Fortune 500 companies. They also have a lot of rebuild infrastructure for powering e-commerce and a range of other areas, including financial services, that are already -- we're working with. So the ability to integrate the Conversational Cloud with those services is a really natural fit to help us gain access to their customer roster. And in terms of how he we can get moving, we already have deals with Infosys that they've assisted with, in addition to a really large pipeline of business that we expect to start closing in the fourth quarter. And 1 example there is, on the e-commerce front, Infosys has some technology that helps the customer integrate to product catalogs and other back-end systems that smooth the path for the Conversational Cloud to integrate and begin delivering conversational commerce. So it's a good example of a win that's already under our belt and one that showcases the power and synergy of this relationship.

Analyst
Arjun Bhatia

Awesome. Very helpful. Thank you very much.

Operator
Operator

The next question is from Sterling Auty with JPMorgan. Please go ahead.

Analyst
Sterling Auty

Yes. Thanks. Hi, guys. The last question, the beginning of it was a little hard to hear on my end. So hopefully, this isn't a complete repeat. But with the new customers, the 48 new customers that you brought on