Conversations from the prior day are copied overnight from the LivePerson database, transformed and stored in the Insights database, and ready for reporting the next day. Thanks, Rob. As Rob shared, LivePerson had a strong first quarter and is executing well in this new environment. Accounting for year-to-date contract signings and the strong volume trends we are seeing within our usage-based offerings, we expect second quarter revenue in a range of $83 million to $85 million, up 17% to 20% year-over-year and approximately 8% quarter-over-quarter. In an effort to balance these uncertainties with the positive trajectory we are seeing in our year-to-date results, we think it’s prudent to widen our 2020 revenue guidance range to $340 million to $355 million from previous guidance of $350 million to $355 million. The CMS will eventually learn business lexicon to add context, provide warnings about sensitive content and provide guidance in terms of any content that needs to be trimmed down.
Codeless reporting tools and predictive analytics will take the data analytics world by storm. There’s enough, I think, business right now on the base here to just take us beyond this year. So I think now short term, medium term and even when we get through this, we’re going to be on the other side of capturing a lot of the demand in the market today. I’m just wondering as to how do you see the sort of the market, sort of like get more traction among the customers. We expect this to represent a permanent shift as our platform enables brands to rapidly virtualize the contact center work-from-home, making agents more efficient and providing unlimited scalability with automation. Combined, these dynamics are accelerating the adoption of our platform and our path to profitability. Taking into account the spend initiatives outlined above, we are positioned for improve profitability in 2020, even if our conservative growth assumptions play out. And as a result, we are on a path toward enhanced profitability and cash generation, while continuing to invest in our core growth drivers of AI, sales capacity and product innovation. As a result, business leaders are not only collecting more data and at higher levels of granularity, but also finding streamlined ways to glean better insights and thus make more frequent strategic decisions.
So you talk about shorter deal cycles, sort of like one proof point that alludes so that now, A, it’s getting more and more mind shift. So you mentioned about the high end, like $16 million sort of like reduced expenses. Therefore, we are raising our full year guidance for adjusted EBITDA to a range of $3.5 million to $10.5 million from previously issued guidance of negative $3 million to $3 million. This adaptability, combined with the strength of our business model, have enabled us to raise profit guidance and target strong revenue growth in 2020 despite potential economic headwinds. Despite the current macro uncertainties, LivePerson’s resilient and adaptable business model has enabled us to raise profit guidance and target a 2020 revenue growth that is at least as strong as in 2019. We are successfully streamlining operations and driving enhanced productivity through automation, and these initiatives are accelerating our path to sustainable cash generation.
You are expecting some kind of increase in productivity of sales reps that you hired late last year. Existing customer deal counts increased 42%, while new deal counts fell 15%. Deal counts reflect several stalled sales cycles in March, particularly for new logos, as contact centers went into crisis mode and focus on triaging operations rather than deploying platforms. We also recognize, of course, that there are macro risks stemming from the coronavirus pandemic that could potentially impact our business, sales cycles and customer attrition, particularly with new logos and small business. Ultimately, we think it will take at least a few months until anyone has a very clear view of how the effects of coronavirus pandemic will play out in the global economy. How do you think your innovation might be able to address the new needs that have arisen as a result of the pandemic? In order to maintain business continuity with remote agents and address broken call queues, leading brands are rapidly adding new messaging endpoints, shifting agents to LiveEngage, expanding use cases and widely embracing automation. It’s the best way to deliver an automation with AI. And I spoke about the vision of using AI and automation even on our own operations, and that’s why I brought John in.