Bixby announced he will leave the company early next year. He will be replaced.
LoCascio and Bixby helped take the live-chat specialist public 10 years ago, just as the dot-com bubble was bursting. It survived. It has been consistently profitable. It's growing, as thousands of popular websites now rely on LivePerson's platform to provide cost-effective support, instantaneously.
Bixby is leaving at a time when the company is rocking. Its stock hit double digits for the first time ever last month.
Last night's quarterly report was solid. Revenue climbed 27% to $28.2 million, and adjusted net income of $0.09 a share was just ahead of the $0.08 a share that analysts were expecting. The stock still opened 4% lower today, as investors appear more concerned about the uncertainty at the top than the company's otherwise solid fiscal performance.
Wall Street's reaction is a shame, because it's a good time to buy into LivePerson.
Oracle's move was enough to send shares of LivePerson and GSI Commerce
However, LivePerson is an attractive company in its own right.
It doesn't just offer a platform for companies to provide online chat over less efficient email support or call centers. LivePerson has been doing this long enough to make its offering proactive. ValueVision Media's
I recommended LivePerson to Rule Breakers subscribers at $6.73 earlier this year. I'm still bullish on the company.
The product works. The growth is obvious. This may also be the only company that routinely posts quarterly updates on YouTube, with LoCascio and Bixby even candidly discussing Bixby's departure last night.
It's the kind of company you want to root for, especially because the financials continue to justify that faith.
Are you invested in any obscure companies that deserve more attention? Share your thoughts in the comments box below.
LivePerson is a Motley Fool Rule Breakers recommendation. The Fool owns shares of Oracle. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.
Longtime Fool contributor Rick Munarriz has been following LivePerson since well before he singled it out to members of his Rule Breakers analytical team. He does not own shares in any stocks in this story. The Fool has a disclosure policy.