Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to LivePerson's Third Quarter 2022 Earnings Conference Call. My name is Ryan and I will be your conference operator today. At this time, all participants are in a listen-only mode. After the prepared remarks, the management team from LivePerson will conduct a question and answer session, and conference participants will be given instructions at that time. To give everyone the opportunity to participate, please limit yourself to one question and one follow-up. As a reminder, this conference is being recorded. I would now like to turn the conference call to Mr. Chad Cooper, Senior Vice President, Investor Relations. Please go ahead, sir. Thank you, Ryan. Joining me on the call today is Rob LoCascio, LivePerson's Founder and CEO, and John Collins, Chief Financial Officer. 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, November 7, 2022, and are subject to risks and uncertainties. Actual results may differ materially due to various factors, including those described in today's earnings press release and in the comments made during this conference call, as well as 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. Also, during this call, we will discuss certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in today's earnings press release. Both the press release and the supplemental slides, which include highlights for the quarter, are available on the investor relations section of LivePerson's website. With that, I will turn the call over to Rob. Rob? Thanks, Chad. Thank you for joining LivePerson's Q3 2022 Earnings Call. I'd like to start off with an overview of the quarter. In Q3, revenue grew 9.5% year over year to $129.6 million. Adjusted EBITDA of $9.1 million moved into positive territory. Our non-GAAP gross margins were 74%, up 200 basis points year over year. A few weeks ago, we hosted one of our customer events in San Francisco, where 80 of our largest brands and key prospects were in attendance. Our partners and customers at Google, Verizon, Virgin Media, Priceline, and Elevance Health gave attendees a private view into AI-powered digital customer engagement journeys and strategies they have implemented with LivePerson to date. These events offer us a clear lens into our customers' thinking and help inform our product roadmap in the future. There were three broad strategic themes that were validated by our largest brands at the event that I wanna share with you. First, I was struck by the fact that meeting after meeting, our customers told us that they now consider us a tier one provider. The CTO of one of the largest airlines in the world told me that out of their thousands of systems that they have in their company, that there's only a small group that are considered tier one, including their reservation system, and that we are now one of those systems. We're now seeing enterprise customers shifting 30%, 40%, 50% of contact volume to us, we really validate what no other company has done in our space. We took something that for 50 years was ingrained in people, that we need to pick up the phone and call a brand for customer care, and we create a clear alternative to traditional voice. Being considered a tier one provider serves as a validation of how we execute against our long-term vision to become the mission-critical customer engagement partner for brands across a multitude of industries. Brands now entrust their businesses to us more than ever before. We expect this trend, as well as conversational volumes, to both continue to grow in the months and years ahead. This new reality is an exciting opportunity that brings heightened responsibility and expectations. One highlight when we release our voice this year, it'll be a voice AI, enabling consumers to converse with the machine through natural language, have a curiously human experience. Second, brands have validated our vision for how the use of AI and automation in the enterprise. Our brands are adopting AI, thanks to our tools and expertise, and continue to build their teams and AI specialists to support the prominence of the function across their business. As discussions we had with one of our major banking brands exemplifies this trend, they're seeing increased value in our platform as they deploy additional automation. For them, an increasing number of brands, LivePerson is much more than a chatbot company that helps them connect to a multitude of channels. Our leading AI, automation, and product roadmaps are helping them innovate and operate the most sophisticated AI-driven digital customer engagements in the markets today. Finally, brands want us to be the platform where they integrate key systems that create a unique, powerful customer engagement hub. One of our largest telco customers is using our platform as that central hub, creating integrations with other digital and legacy systems in order to deliver a rich consumer engagement experience. The acquisition of Tenfold and VoiceBase are part of this long-term strategy to move us into the central role. Also want to note that Google joined us on the main stage of our conference to highlight our partnership around conversational commerce use cases, which focus on the work we're doing together to unlock the opportunity for conversational ads and search. We've already kicked off engagements with several of our enterprise customers that are seeing really compelling results in conversion rates. We expect to have more exciting updates with this partnership as we move from beta to general availability with Google in the coming quarters. In all it was a terrific event and strong validation of our AI-driven approach and the product roadmap for us to continue to build on as a tier one platform to serve as a central customer engagement hub with the world's leading brands. Now let's dive deeper into our results for the quarter. As we outlined in our Q4 call, with the changes in the market, we focused during fiscal year 2022 on three actions to optimize cross-sell revenue growth. New logo growth, expansions with existing customers, and our strategic partnerships initiatives opening our AI so it can be accessed on other platforms and strengthening the AI platform to drive enhanced value to customers. While we do not divulge bookings numbers, I would like to highlight that we had a strong bookings quarter in Q3, evidence that our newer quota-carrying reps are starting to gain traction. In fact, we achieved the highest bookings number since Q1 of 2021 after netting out the COVID testing revenue. Starting with customer wins and logo growth, we signed seven seven-figure deals and achieved a total deal count of 86 deals in the quarter. As brands look for a strategic partner for AI-powered digital customer engagement, they're increasingly recognizing LivePerson expanded value proposition. This holds true even under the current economic conditions because they recognize the cost savings they can achieve with our platform. As I turn to some of our top customers wins for the quarter, some of which include the most innovative brands in the world. Let's start with new logos. We won 29 new logos in the quarter. While the number of new logo deals is down year-over-year, the dollar bookings on the new logos is up 20% year-over-year. Additionally, the number of enterprise new logos up 14% year-over-year. These new logo wins provide the foundation for the upsells of tomorrow and are excited to have these customers on board. They expand our presence in the market and bring us the opportunity to significant expansion dollars. One of the largest new logo wins of the quarter was Money Mart, an operating unit of Momentum Financial Services Group and an alternative lending provider operating across North America. In addition to being an amazing new brand for LivePerson, in just 59 days after signing with us, Money Mart was able to launch an entire digital servicing strategy that included messaging, automation, and agent workspace, call to messaging, deflection, and voice-based AI analytics. Another large new logo win was a three-year seven-figure TCV deal with UK's largest auto insurance provider, and they have over 14 million members. They plan to use our software to offer messaging with automation and IVR deflection so that they can reduce costly phone calls and improve customer satisfaction. This is a year-long RFP process where we beat a number of other vendors. In the healthcare vertical, we signed a new logo deal with a provider of public healthcare programs. Our Tenfold integration platform gives their sales and service reps the full context of each customer in real time. This enables their agents to quickly identify who's calling members or providers to deliver the best customer experience while also reducing average handle time, quickly creating new cases, and ensuring analytics are captured back into the ERP and CRM systems. It's also interesting to note that we partnered with one of our channel partners, which enabled us to avoid a lengthy procurement process. We expect this new partner, who is a heavy Cisco partner, will open the door to jointly pitching a new set of logos and potential customers and partners. We also had a strong quarter with upsells and renewals. Our growth reflects the trends, brands moving into us being a tier one provider. Chipotle, the largest fast casual dining chain by sales in the U.S., renewed and expanded upon its partnership with us. This deal highlights the power of LivePerson's combination of best-in-class AI, cloud platform, and expertise in professional services. Chipotle leverages a concierge bot named Pepper to support its 3,000 U.S. restaurant locations, helping them deliver curiously human feeling and personalized experiences on a national scale. I'm also happy to announce a 2-year renewal and expansion with The RealReal, our second-largest deal in the quarter. The RealReal renewed as an Automation as a Service customer as we continue to deliver an enormous amount of value in designing and executing the customer's strategic roadmap for conversational AI and conversational commerce. We achieved a renewal upsell with the top US-based insurance company. This insurance company is focused on digital customers' journeys and expanding their current success in automation to new lines of business like roadside claims. Also, in the healthcare vertical, we signed a 7-figure multi-year renewal with one of the largest Fortune 20 payers in the US. We established a relationship about 18 months ago in just one line of business via web messaging. We're now deploying our platform in the remaining 6 lines of business to access additional messaging channels like in-app, Apple Business Chat, and Google Business Messages. Finally, we signed a renewal in the world's largest cosmetic company. They are looking to expand their digital footprint, invest in deflection activities around voice to messaging, and improve personalization on their brand's websites. We are deployed in 16 of the company's 37 brands and will continue to use this for both customer care and commerce. As we discussed recently, we're working on a greater open platform strategy to address what we see as a larger incremental addressable market opportunity for us by our customers, partners, third-party developers, and internal teams. This will enable the acceleration of new areas within our customer base. As an example, VoiceBase is currently available across several third-party marketplaces, including Twilio's Flex Marketplace. While early in its development, we are encouraged by the fact that revenue from voice-based product on Twilio has grown more than 100% in the past 6 months with no direct sales or marketing investment. In Q1, we plan to launch versions of the LivePerson app marketplace and build on the pipeline momentum from Celonis and Afiniti, who jointly uncovered nearly 20 opportunities for us in Q3, helping to contribute to our pipeline in Q4. As we eye a formal launch for the app marketplace in the next 3-4 months, we have a strong pipeline of rev share program partners including Tealium, Medallia, and Quantum Metric. We see partnerships as a major untapped growth lever for LivePerson and are dedicating appropriate resources to this very scalable opportunity. Finally, I'd like to also take the opportunity to talk about our new chief marketing officer, Ruth Zive. Ruth is a three-time enterprise software CMO, most recently serving as CMO of a chatbot company called Ada, where her leadership helped transform the company through triple digit growth. At LivePerson, Ruth's priority is to grow scalable, measurable, and predictable world-class demand generation while driving operational rigor. We wanna welcome Ruth to the team. We're really excited to have her here. As I mentioned at the top of the call, we continue to execute our profitable growth plan announced at the start of the year, and we're on track to deliver double-digit Adjusted EBITDA margins in Q4 and sustain these margins with a focus on free cash flow in 2023 and beyond. With that, let me now turn the call over to John to discuss the detailed financial results. John? Thank you, Rob. In the third quarter, we continued to advance the profitable growth plan we launched at the start of this year. To that end, revenue grew 9.5% year-over-year to $129.6 million, which was an improvement relative to the expectations we'd set last quarter. The upside relative to prior guidance was primarily driven by Wild Health's continued overperformance and by the accelerated timing of upsells and professional services deliverables. The net effect of revenue upside and continued cost reductions translated to $9.1 million in Adjusted EBITDA. non-GAAP gross margins of 74% were at the top of our guidance range and attributable to cost reductions and a focus on scalable high margin sources of revenue. In order to close out the year with a balanced approach to profitability and growth, we continued to optimize our cost structure in the third quarter. Restructuring during the third quarter is expected to reduce our expense run rate exiting the year by significantly more than the actions we've taken in the first half of the year, advancing our goal of double-digit Adjusted EBITDA margin and positive free cash flow for 2023. For perspective on the pace and magnitude of the P&L transformation year to date, note that when we launched our profitable growth plan at the start of the year, we were burning well over $30 million in free cash flow per quarter and forecasting that number to grow. Over the medium to long term, we expect these cost reductions, coupled with the emphasis on scalable high-margin revenue sources to better align sales and marketing, research and development, and general and administrative expenses with best-in-class industry benchmarks. Turning to our reporting segments for the third quarter, within total revenue, B2B grew 10% year-over-year. Revenue from hosted software was down 4% year-over-year, and professional services grew 92% year-over-year. To elaborate on the underlying business drivers, consistent with the expectations we shared last quarter, COVID-19 testing revenue from our long-standing enterprise customer Citi dropped to zero in the third quarter. Excluding the impact from COVID-19 testing revenue and pandemic-driven variable revenue, B2B grew 25% and hosted software grew 12% year-over-year. As for professional services, continued high growth was attributable to the eight-figure healthcare deal we signed in the first quarter, which is focused on Automation as a Service for healthcare delivery companies. We expect elevated PS revenue to continue in the fourth quarter. From a geographic perspective, U.S. revenue grew 12% year-over-year and represented 69% of total revenue, while international revenue grew 4.5% year-over-year and represented 31% of total revenue. Finally, revenue from the consumer segment increased 3.7% year-over-year. In the third quarter, we continued to build on our go-to-market momentum. Our platform's ability to increase operational efficiency and reduce costs is resonating with both our customer base and new logos, especially in the present macro environment. In addition, as Rob described, customers are increasingly viewing AI and automation as fundamental to delivering a seamless and personalized digital experience across the consumer journey. From this perspective, our customers are looking to us as a strategic long-term partner and tier one service provider, which we expect will drive growth in usage of our platform in the future. Today, we facilitate and manage approximately 1 billion conversational interactions each month, making us one of the most scaled conversational AI platforms in the world. To this end, in the third quarter, we signed 7 seven-figure deals, 4 expansions and 3 new logos. Note that cross-selling VoiceBase was once again a key part of the value proposition that landed one of the seven-figure new logos. While the aggregate number of new logo deals was down year-over-year, aggregate new logo deal values were up 20% year-over-year, driven by a 14% increase in the number of enterprise new logos. Considering our focus on the enterprise, we see these results as indicators that we continue to ramp reps and rebuild go-to-market momentum. Enterprise new logos typically result in a higher initial deal value and greater strategic expansion opportunities, translating to significantly higher lifetime value relative to new logos down market. More broadly, in terms of aggregate deal value across both new logos and expansions in the base, the third quarter was our strongest since the first quarter of 2021, normalizing for the impact of COVID-19 testing. RPO increased 16% year-over-year to $431 million, driven by several large enterprise renewals and upsells. Average revenue per customer improved to $675,000 this quarter, up 18% year-over-year. Conversational Cloud messaging volume grew 25% year-over-year, and AI-based messaging volume grew 11% year-over-year. Consistent with expectations we shared last quarter, net revenue retention was just below our target range of 105%-115%, attributable primarily to lower pandemic-driven variable revenue from Gainshare and lower revenue from Citi's COVID-19 testing program. In terms of guidance, we expect continued outperformance by Wild Health and elevated professional services in the fourth quarter. Considering those expectations, coupled with more upsells and early renewals in the third quarter than previously expected, we are raising revenue guidance for the full year. We now expect revenue in a range of $517 million-$521 million, or 10%-11% year-over-year growth, an improvement to the midpoint of approximately $6 million. For full year Adjusted EBITDA, we are reaffirming our previous guidance range of $1 million-$10 million. The wide Adjusted EBITDA range at this time in the year reflects the potential for continued revenue upside from Wild Health and elevated professional services and the potential for lowering operating expenses from additional P&L optimizations. The implication for revenue in the fourth quarter is a range of $124.5 million-$128.7 million, or approximately 1%-4% year-over-year. The expected sequential decline in revenue is primarily attributable to early upsells with one-time components that were pulled forward into the third quarter from the fourth quarter, and attributable to the lessened predictability of the magnitude of continued upside from Wild Health and accelerated professional services deliverables in the fourth quarter. As for Adjusted EBITDA in the fourth quarter, we expect a range of $14.9 million-$24 million, or 12%-19% margin to the midpoint of revenue guidance. Finally, we are expecting non-GAAP gross margins to be in a range of 72%-74%. Before taking questions, I'd like to emphasize several key themes for 2022 and how solid execution on our profitable growth strategy is positioning us for 2023. In the third quarter, we continued to observe indicators of increasing sales momentum, including 14% year-over-year increase in enterprise new logos and a 20% year-over-year increase in aggregate new logo deal values. We also expanded within our customer base, which increasingly regards us as a long-term strategic partner and tier one service provider on a level we haven't seen in the past four quarters. Critical inputs to those results were increased traction with strategic sales and technology partnerships and robust cross-selling of products within our installed base from newly acquired assets. This sales momentum, coupled with the optimization of our cost structure and a focus on scalable high margin sources of revenue, reflect durable changes to our operating model that position us to generate double-digit Adjusted EBITDA margins and positive free cash flow in 2023. With that, operator, we can proceed to Q&A. Thank you. Ladies and gentlemen, at this time we will be conducting a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. Ladies and gentlemen, we will wait for a moment while we poll for questions. Our first question comes from the line of Ryan MacDonald from Needham. Please go ahead. My questions, congrats on a nice quarter here. Maybe we start with just the guidance and just can you provide a bit more color and help us understand the one-time components you discussed from some of the early pull forwards that came into Q3 that we won't see repeated in Q4? Hi, Ryan. Yeah, those one-time components relate to an acceleration of recognition of revenue for usage true-ups. In other words, the customers who we renewed and upsold early in the third quarter were well ahead of the usage that was contractually committed and so needed to essentially raise the overall cap, and that was the nature of the upsell going forward and accelerated recognition in the third quarter. Yeah. Got it. Makes complete sense. All right, thanks for clarifying that for me. Then, you know, it's great to continue to see some of the early, I guess, performance from Wild Health. Can you just help us understand, you know, where that's coming from, whether it's sort of on the B2C side or in the B2B initiatives? Then as that business continues to grow, as a mix of revenue, you know, I think you called out sort of overperformance there could create some wider variability on the Adjusted EBITDA performance. You know, can you help us sort of sync up what, you know, success in Wild Health translates to in terms of adjusted EBITDA? Or could we see downward pressure, I guess? On the, um- Yeah. We're seeing. I think. Go ahead, John. I was just gonna make a comment on Adjusted EBITDA, just on that specific financial point. I think broadly, as we discussed previously, Wild Health has a lower overall gross margin, but we have now greater insight into ways we can expand that gross margin to be more consistent with LivePerson's target over time. We don't expect it to necessarily get worse, but to improve over time. Then we're seeing good traction on the B2C side right now and some B2B, but there are a number of, you know, people signing up for the service and then also we're onboarding medical professionals on the overall platform. It's a sort of a combination of both right now. Excellent. Maybe just one more from me. Just on broader rep productivity, it's good to see some of the gains there and improvements, despite sort of an uncertain macro environment. I'm curious, as you're looking out into and planning for 2023, can you talk about how you're feeling about sort of sales capacity at the moment and quota coverage and how we should think about sort of incremental investments on the sales headcount? Thanks. Yeah, Ryan, I think that where we stand today, we do continue to see progress on ramping the reps we have. We have more ramping to go as we exit the year and think about 2023. Big picture, we started 2022 with mid-50s numbers in terms of total ramped reps, and we think that number will be mid-80s as we start the year in 2023, with a healthy number who are on ramp shortly thereafter. In terms of- We're kind of focused on. Go ahead, Rob. Go ahead, John. No, go. No, I just think investments will flow in 2023 in light of a broader overall profitable growth framework, right? We have certain targets for overall free cash flow generation and EBITDA margins, and we'll make investments accordingly. Excellent. Thanks for the color. Thank you. Our next question comes from the line of Mark Schappel from Loop Capital. Please go ahead. Hi, thank you for taking my question. Yeah, nice job on the quarter. John, given the strong 3Q performance, I was surprised to see that the profitability guidance looks like it remains, you know, pretty much unchanged here. Could you just run through some of the puts and takes there and why that is? Yeah. Some of the upside relates to the one-time components I described at the top of this call. Other components relate to our sort of expectation for continued outperformance going forward, but less predictability in terms of Wild Health and also in terms of our ability to accelerate certain professional services deliverables. I think the other component on the cost side is that as we continue to assess the business, we felt that there would be greater impact on our long-term profitable growth strategy by staying the course and delivering on certain product roadmap deliverables on time with our customer base than simply cutting costs and dropping those to the bottom line. It's a balanced approach we're taking here with respect to taking costs out of the business, but not harming growth opportunities as we look forward. Okay, great. Thank you. I believe your international business, which is mainly Europe. It was up about 4.5%, if I recall correctly. Could you just talk about some of the dynamics you're seeing there? It seems to continue to underperform, you know, in the US. Yeah. We are, you know, looking at sort of rethinking the investment in there and how we make some changes to accelerate the growth. You know, obviously we feel the markets are still very strong for our products. But you know, we feel like the European market is just has a lot of, you know, we have a lot of opportunity there, but we think we need to, you know, do a little bit better of a focused approach. I don't have anything specific to talk about it right now. I think a lot of it's around the execution leadership, but, you know, we're basically, you know, rethinking that and how we grow it at the same rates that we'd see in the US. But there's definitely demand there, so. Great. Thank you. That's all for me. Thanks. Thank you. Our next question comes from the line of Siti Panigrahi from Mizuho. Please go ahead. Thank you. Thanks for taking my question. Rob, some of your peers in even communication platform contact center, they talked about macro pressure. Wondering, what are you seeing among your enterprise base or among your installed base? Are you seeing any sort of macro pressure or any kind of impact to your business? Not right now. I think this quarter, and what I talked about as becoming a tier one provider, tells the story we've wanted to tell, which is that it's not about the channel communication. We're not like messaging as a channel to replace voice. It's about being an AI automation company. When you look at what the value of our platform is, you know, as we've said, about 75% of a billion conversations we carry have some form of automation in it. Even when I was talking about that, I sat down with that CTO from one of the largest airlines in the world, you know, he talked about the automation capabilities, and it's critical because we're automating at a very high scale things that normally need a human agent. It wasn't about, you know, moving voice calls to messaging. Yeah, that was the kind of inning one many years ago. It was moving that to automation so we can get to scale to have more conversations. I think what it should show is that we're starting to diverge from the concept that we're a channel of messaging or people say chat sometimes. That we're really moving into, you know, very high-quality AI, and there's more we're gonna do in that area, and I think that's what we're seeing in the market today. I feel very good about the demand in the market because we're driving costs out of the businesses. That's great. How do you characterize the competitive landscape right now? It's really true. You still have, like, the voice providers that are out there. You've got the CRM players like Salesforce. Once again, you know, we're integrating with them. One of our strategies now, we've been sort of a walled garden, although our platform's open. Other AIs can live in it. We're very integrated into things. I think we're really thinking about now is how do we take our AI and run it over a Genesys platform? How do we run it over a Five9? How do we run it over these voice platforms? Because maybe they've got relationships there, and instead we gotta take them out. Why don't we, you know, run over those platforms? We're gonna see them more as cooperative. Like I give example in Twilio, which, you know, obviously they've got a contact center product, Flex. We're in their marketplace now with our voice-based product, and people are integrating that into some of the Twilio flows. We kind of are starting to evolve ourselves beyond the walled garden into more of a platform for AI. Then you can do it on our platform, you can do it off our platform, and that's really where we're moving now. That's great. Thanks for the color. Thank you. Thank you. Our next question comes from the line of Zach Cummins from B. Riley Securities. Please go ahead. Yep. Hi, good afternoon. Congrats again on the quarter, and then thanks for taking my questions. First question for me is there really any sort of change in the go-to-market focus for your enterprise sales force at this point? Is there more of an incentive to focus on these larger customers, just given the higher payoff to begin with and the potential upsells over time? Just curious if there's been any sort of involvement in that strategy, just given the current macro conditions. No, I mean, it's been the same. I mean, if you don't remember, we kind of went up to the enterprise and we kind of abandoned the small business market. So we've got the mid-market and the enterprise that we're focused on. We do our best work there. It's very hard to, you know, sell 7-, 8-figure deals into those customers. We do it well. We're renewing them well. We're becoming critical, like the tier one for them. So I think as a company, we get most excited when, you know, the largest banks in the world and telcos and airlines are like, "You're critical now. You're carrying 40%, 50%, 60% of all of our customer engagement. We want you guys to be like something even better." They're pushing us now, as a company to be a better company, which is exciting. I just think as a company, we really and people, even the people who work here, we get excited by working on that. The other thing is from an AI perspective, they have these large datasets. I mean, we generate a lot of conversations. They have a lot of internal data, and the ability to sort of crack the nut on how do you automate all that, at scale, you know, that's exciting. I think for us, for now, that's where our focus is. It's been our focus. We're trying to get more streamlined. You know, into 2023, we just wanna be operationally better at going after that, and that'll be our focus for the near to medium term. Understood. That's helpful. Final question for me, geared towards John. In terms of the double-digit Adjusted EBITDA margin target that you've put out there for 2023, is there any sort of needed growth to achieve that sort of target? What are some of the puts and takes that give you the confidence around that double-digit Adjusted EBITDA margin target? Sure. There's certainly a revenue component. As we think about the range of double digits that are possible, even in a lower growth scenario, we'd still be able to achieve that goal that we set for ourselves. Understood. Well, thanks for taking my questions, and congrats again on the quarter. Thank you. Thank you. Thank you. Ladies and gentlemen, if you would like to ask a question, please press star one on your telephone keypad. Our next question comes from the line of Tom Blakey from KeyBanc. Please go ahead. Hey, guys. Thanks for taking my question, and congratulations on the results. I might have missed this, so I apologize if it was already discussed, but just wondering about the installed base and expansionary growth. I know I saw the new bookings growth. Just wondering specifically if there's any. You know, during the pandemic, there was some pull-in from other of your peers in terms of spend there. If there's any type of like maybe shelfware, an old term there, right? But that you're worrying about or kind of monitoring as you go into 2023. I have a follow-up. No, I wouldn't say we have anything other than the sources of revenue that we've discussed previously, from the pandemic, namely the COVID-19 testing, primarily one particular customer, Citigroup. The pandemic accelerated variable revenue in our Gainshare portfolio, both of which have largely rolled off the P&L, in the first half of 2022. As John said, we accelerated some pull into the Q3 because of customer usage, so there's not really any shelfware in the customer base per se. If anything, we're pulling stuff in where we have a hit. They're hitting the top of their range on their usage. They'll go into overages, so then we restructure the deal, you know, to like move them to another tier. That's a great follow-up there. Thanks, Rob, for the clarification. Thanks. Solid to have, you know, new bookings and installed base growth heading into Q4 here would be. It does seem great. My second to last question is just on the defensibility of LivePerson's technology. I mean, you know, I think this is Tenfold-led, but, you know, adding LivePerson to these larger platforms, I'm just wondering, you know, maybe this is for Rob, if you could just add maybe a, you know, comment or two about, you know, the defensibility of the technology as maybe hedging off of a long-term risk type of question of, you know, consolidated technology or consolidated spend of the LivePerson functionality as you attach yourself to these larger kind of strategic mandates. Thank you. Yeah. I think there's kind of two parts to it. One is the one you outlined, which is, you know, how do we become more of a platform? In the past, our partners were like BPO partners and like the Tech Mahindra and the Infosys and people like that. Where we're seeing, you know, the greatest opportunity is, you know, the Salesforce and Twilio and technology integrations because our customers want us to be more of this hub. We are controlling the front end experience to the consumer. We've got the AI rails to automate. Behind that is a lot of systems that need to get integrated to make that a high-quality automated experience. So I think our role becomes more important as we become this hub in the system of our customers' business. The second part is, we've got some of the best AI technology in the world. Like, I know that. You know, it's like I know, you know, founders and CEOs, you may drink your own Kool-Aid, but we just had this conference, and I've been out with customers. I was in South Africa with a new customer, Capitec, for their launch, and I met a bunch of other customers who'll be like, "We're opening up the South African market, like, with all these new companies." They just look at everyone. They look at all the potential competitors who say they've got AI, and they're choosing us. I just think there's a lot of opportunity there just because we had a head start, and we've got some of the best people in the world to build this type of technology, and we see it as AI. We're not trying to build a contact center company, you know, that's better than voice. We're trying to build a trillion AI company that can automate business processes, and I think we've just got a good lead there. Right now it's about execution. We got a new head of marketing. I think our marketing needed a lot of help, and we have a new head of marketing. We definitely have streamlined the sales force, and so we just gotta get our sales execution, like, solid. But I feel like we don't have a market issue nor a product challenge. We really got strength there. It's just now executing, you know, into the global markets. If I could follow up, Rob, sorry, on that. No, no problem. Are there specific pools of spending that when you say they're choosing us for AI, it sounds like there could be some bake-off components to that? Relatedly to your prior comment about LivePerson possibly becoming a hub in that context of AI, you know, today or in the future, are we gonna consider LivePerson a system of record, that kind of key software term, in terms of this, you know, digital customer engagement strategic motion? Yeah. I mean, that's what we say. We say, you know, digital customer engagement powered by AI. The advances, by the way, in the last 24 months in AI is pretty amazing from a model perspective and what we can do with our technology going into the future. You're right. I believe AI and conversational AI especially will become the focus point for everything. For instance, you know, even content management. You know, there's the ability today to, on the fly, generate content based on AI, based on patterns of consumers. You can build an image now, you know, on the fly and render it in pixels without a JPEG. You can do all these things that we could tailor to a conversation based on a consumer intent. Our AI machine ultimately will be, you know, about a business saying, "I wanna do something with consumers or a group of consumers, and we wanna target them, and we wanna provide the right content and conversations with them." That's really what we're trying to go after. I do think we're in that driver's seat to execute on that just because of how we approach this strategically. You know, once again, I've been out with the customers in the last 2, 3 months, really focused on what their needs are, and I just feel like we're in a really good place. Just gotta execute. Excellent. Thanks for the answers, Rob. Thanks, guys. Thank you. Our next question comes from the line of Ryan MacWilliams from Barclays. Please go ahead. Hey, guys. Thanks for taking the question. Just a few for John. Right. John, investors are pretty happy to see the big operating leverage improvement in the quarter with sales and marketing and R&D spend declining. Was there any call to action taken in the third quarter that weren't fully reflected in the quarter that could also further benefit fourth Q? Hi, Ryan. Yeah. There are certainly some that were late in the quarter or that have been actioned but will have P&L impact in the fourth quarter. That dynamic holds true, although most of the actions in the third quarter will translate and be reflected. Of course, as I said in the prepared remarks, we have some additional P&L optimizations that we're working through as we speak. Perfect. Then any way to just think about kind of the differences between EBITDA margins and free cash flow margin at this point? Like, is there any, like, puts and takes given some of those changes in the quarter? Would we expect these two to, like, converge over time? Over time, as you may know, there is a large software capitalization component after just EBITDA to get to free cash flow in addition to a variety of CapEx needed to support our private cloud. As those become less over time and we are reducing software capitalization moving forward, then we'll see them start to converge. I wouldn't expect them to ever fully converge, however, but they'll get closer over time. Perfect. Just two more kinda like just check-the-box ones. You mentioned, I might have missed this in the prepared remarks, the contribution from Wild Health in the quarter and maybe what we could think about impacting forward Q for the guide. Yeah. I think we see continued strength, and I think the upside that we already saw in the third quarter and the growth we're seeing serves as kind of a baseline for what we can expect in the fourth quarter, hence, the contribution to the increased guidance. Because it's a newer business and we have less predictability at this point in time, we're, you know, being conservative. We're not sure exactly where that will land. Excellent. Appreciate the color across the result. Thanks, guys. Thank you. Thank you. Thank you. Our next question comes from the line of Jeff Van Rhee from Craig-Hallum. Please go ahead. Yeah. Great. Thanks. So several from there. I guess from a guidance standpoint, I realize you're not giving 2023, but can you at least give us a framework of how to think about it either at a high level growth rate or and probably preferably you've got the hosted versus PS versus consumer segments and just you know put some frame as to how we think about 2023, if you can't at least give us some bounds around it. Hi, Jeff. Yeah. We're clearly focused first and foremost on generating profits and specifically generating cash next year. As I described in response to another question, that framework will dictate kind of how and where we can make investments. As we think about growth, I mean, we had a great third quarter. As we noted, bookings were a significant improvement over the last four quarters, even normalizing for COVID-19 impact. We are expecting, right, continued strength in B2B, consistent with the prior guide that we put out. I think before we give more color on 2023, we wanna see where things land in the fourth quarter. As for PS, I mean, to answer your specific question on PS, again, in the prepared remarks, we said we expect PS to continue to be elevated in the fourth. I think it will start to moderate, but we'll still have more PS than we have had in historical years, in 2023. Just to round it out, any thoughts on consumer? Yeah. I don't have expectations for consumer different from how it's playing out this year at this point in time. Okay. From a product standpoint, you know, I know the platform, particularly around AI and automations is the competitive strength. Help me reconcile the messaging growth. I think you said conversational messaging is up 25%, but automations were up 11%. It seems like it probably should be the inverse, unless I'm thinking about that incorrectly. No, it depends on, you know, the use of the automation and new logos and whether we go live with agents first or the automation. We don't see anything different than, you know, what we expect in a pattern right now. There's nothing there. I can get back to you on it, but there's nothing that we see that's not normal for growing our new customers and stuff like that. Got it. Okay. No further. Thank you. Okay. Thank you. Our next question comes from the line of Arjun Bhatia from William Blair. Please go ahead. Hi. Thanks. This is Chris on for Arjun. Thanks for taking my question. I wanted to unpack the number of new logos being down a little bit year-over-year while the bookings dollar amount was up. It sounds like this is primarily, you know, from better traction in the enterprise market. Can you discuss whether this is the result of kind of intentional go-to-market changes, or are you changing your message to fit the current macro backdrop? Or, you know, is there any way that you're landing with customers is changing at all? No. I think it's just because we're doing big game hunting on the enterprise side, it kinda fluctuates quarter by quarter. Like last quarter, we had great new logos. This quarter, we're expanding and bigger deals. You know, the sales reps sorta optimize to deal size. But obviously we wanna get as many new logos as we can so we can generate a future value for the company. But it's sort of because you're big game hunting, you know, it's just quarter by quarter up and down. It's not really a trend. You know, we'll see what happens next quarter. Thank you. That's helpful. I wanted to touch on bringing third-party platforms onto the Conversational Cloud. I was wondering how this kinda fits in with the theme of customers using you as a hub, and then how you're thinking about the revenue opportunity that this generates going into 2023. Yeah. I mean, basically what we're looking to do is always drive usage. Where we see is, you know, we get greater. There are two things that drive scale. It's obviously the quality of the automations and then the endpoints that we're on. Like we're deployed on web, in-app, Apple Business Chat. The more places' consumers can get to us, that gets them into the system. Sales, service and marketing use cases, and then automation versus human. What drives a lot of that, when you look at cross sales, service and marketing, is our ability to get into more and more systems. There are billing systems, there are marketing systems, you know. When we're integrating into those systems, when you're communicating with an automation, with the AI, you know, when it comes back and does the full process and takes a sale or handles a service inquiry end to end, that's when we do our best. But that needs backend integrations. We see this as really, you know, integral if we're really gonna scale to even a higher level of automation. Where we cross 50% or 60% of volume comes to our platform. We may have automated, you know, 20%, 30% of that, and there's still a fair amount on human agents. The only reason human agents are still around in contact centers is because of backend systems that are not API enabled. Our ability to interact with those, like our Tenfold acquisition gives us more ability to integrate with those. That's really key. The second part is sometimes they bought off on a voice platform like a Genesys, and they spent money on it, and it's capitalized. You know, it's maybe an enterprise system. Unseating that is one thing, but riding over that, if we can put our AI onto that platform, then we have a better way to get more volume. All of that, whether they're doing voice calls, we automate the voice calls on their legacy platforms. Whether we bring that traffic on our platform, we do end-to-end, you know, automations with hitting the backend systems. That all drives volume, which will drive more revenue for us. That, that's how we align everything with our partnerships. Helpful color. Thank you, and congrats on the quarter. Thank you. Thank you. Ladies and gentlemen, we have reached the end of our call today. I will now turn the call to Rob LoCascio for closing remarks. Thank you so much for your time today. I wanna iterate our focus on, you know, leading in the AI and automation space and also delivering profitable growth is obviously a focus of ours. We put that out, I think it was February, where we said, you know, we were gonna head towards that. We were burning over $30 million a quarter at that time, and now we're heading into obviously generating cash positive EBITDA, which was our goal, and we did it very fast. As we can see, a lot of other people in the space are starting their restructurings now, and they're gonna have to go through all that into 2023. Our goal was to get it all done in 2022. It gives us a fresh P&L and a focus in 2023 to drive growth and profitable growth. Once again, I wanna thank everybody in the company. A lot of hard work in Q3. We did a lot of restructuring. You know, it ultimately drove the results we have today. Very excited that, you know, to become a tier one provider, is something that we dreamt of four and a half years ago, five years ago. We're now doing something that no one's ever done. We've created an alternative to traditional voice, and that's a testament to the hard work of everybody in the company, even in these very difficult times. Looking forward to next quarter and thank everybody, our shareholders and also our employees for all the great work. See you next quarter. Thank you. The conference of LivePerson has now concluded. Thank you for your participation. You may now disconnect your line.