We are providing live chat room service so you can make friends. Whether it’s dispatching a tow truck for roadside assistance, or a service expert to help with a home installation, we make it easy for you. Customers who already trust your website because of the live chat experience will be confident and convinced to submit their information or make purchases. The Company currently plans to adopt the standard using the “modified retrospective method.” Under that method, the Company will apply the rules to contracts that are not completed as of January 1, 2018, and recognize the cumulative effect of the initial adoption as an adjustment to the opening balance of retained earnings. And that’s why Tony joined the company is there is a lot of opportunity. Home, however, represents the first time a major Internet company and Google competitor has created a downloadable launcher. First one is on e-bot7, the recent acquisition you just announced. Koji, Sure. Let me entertain the proof of concept with what we introduce as our accelerator packs, I think, they are one of the same. “We are leading financial industry AI in Africa. More than 1,500 companies in over 60 countries are already using the leading Software-as-a-Service solution to communicate with their customers.
Before taking questions, I’ll emphasize several strategic themes that underscore our performance in the second quarter and expectations for growth over the next 18 months. Moving down the P&L, adjusted EBITDA in the second quarter was $13.4 million or 11.2% margin, exceeding the midpoint of our previously issued guidance by $7.2 million. Considering the strategic investments, primarily in quota carriers and field support that we’re making in the second half, we are revising down our full year guidance for adjusted EBITDA from our previous range of $33.5 million to $41.5 million or 7.3% to 8.9% margin to a new range of $14.8 million to $22.8 million or 3.2% to 4.8% margin. As for the third quarter of 2021, our guidance range for revenue is $117 million to $119 million or 23.5% to 25.5% year-over-year, and the range for adjusted EBITDA is $4 million to $8 million or 3.5% to 6.8% margin. In terms of full year revenue, we are raising guidance from our previous range of $460 million to $468 million or 25.5% to 27.5% year-over-year to a new range of $464 million to $471 million or 26.5% to 28.5% year-over-year.
Maybe what are the pressure points that Tony will be focused on through the end of this year and through next year, kind of focused on that direct channel maybe from a sales infrastructure standpoint? Strong revenue and underlining metrics, coupled with conscientious spending have led to positive free cash flow year to date and LPSN is ahead of its goal of cutting the cash burn in half. This range reflects increasing demand for conversational AI and balance expectations for additional revenue from our exciting but nascent healthcare testing business. With continuity in these trends and aggressive investment in our go-to-market capabilities, again, we expect revenue growth in 2022 of at least 27% year-over-year. As discussed last quarter, we have refined our Gainshare go-to-market motion to enable rapid deployment of managed services for both messaging and voice operations. For example, we’ve been successful at rapidly deploying our commerce offering through end-to-end managed services and extending our reach within high-growth verticals such as healthcare and blockchain. Secular demand for conversational AI is accelerating and our ability to deliver personalization at scale is extending our leadership position in the market.
While we’ve demonstrated an ability to enhance operating leverage and grow at 25% plus, we see an opportunity to substantially increase our market share. Obviously, you can see our ARPU is — we’re doing very well on the enterprise, but there is a lot of action in the mid-market, and Tony can bring a lot of skills there and people to really go at that. We — when I look at the demand in the market, it’s definitely at another level coming through what we experienced last year, and we continue to see growth on the platform. And then we’re seeing, obviously, expansion beyond care right now and there is a lot of use cases coming around commerce and marketing. And they’ve built a self-service automation engine for sales, marketing and care conversations that has very strong traction in the mid-market. Great. And then you talked a little bit about leaning into the sales and marketing investments, so just wanted to focus there for a second.