Company: LPSN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001102993-25-000053
Chunk: 45

Company: LIVEPERSON INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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-based vesting condition and a performance-based vesting condition. PRSUs will vest upon the achievement of specified performance targets and subject to continued service through the applicable vesting dates. The associated compensation cost is recognized over the requisite service period when it is probable that the performance condition will be satisfied. There were no PRSUs granted during the three months ended March 31, 2025, and PRSUs granted during the three months ended March 31, 2024 were immaterial.Total stock-based compensation costs included in the condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024 are as follows:Three Months Ended March 31,20252024(In thousands)Cost of revenue $186 $343 Sales and marketing 1,378 2,455 General and administrative 1,773 1,798 Product development 1,372 2,962 Total$4,709 $7,558 

Note 12. Restructuring 

LivePerson maintains restructuring initiatives to realign the Company’s cost structure with its current business model. In connection with the restructuring initiatives, the Company recognized restructuring costs of $1.3 million and $3.3 million during the three months ended March 31, 2025 and 2024, respectively, which is included in restructuring costs in the accompanying condensed consolidated statements of operations. Such costs primarily include severance and other compensation costs as well as IT infrastructure contract termination costs. The restructuring activities were considered to be substantially completed as of March 31, 2025. The following table presents the detail of the liability for the Company’s restructuring charges, which is included within Accrued expenses and other current liabilities within the condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024:

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

March 31,2025December 31,2024(In thousands)Balance, beginning of the year$3,028 $2,076 IT contract termination costs— (1,217)Severance and other associated costs1,305 12,356 Cash payments(3,127)(10,187)Balance, end of period$1,206 $3,028 The following table presents the detail of expenses for the Company’s restructuring charges for the three months ended March 31, 2025 and 2024: