Business
LiveWorld Reports First Quarter Financial Results
LiveWorld Reports First Quarter Financial Results.
About this update from Liveworld, Inc.
[{"type":"text","content":"\nLiveWorld, Inc. (OTC Markets: LVWD) today announced financial results for the first quarter of 2023.\n\n\nQ12023 Financial and Business Highlights\n\n\n\nTotal revenues of $2.7 million, up 12% year-over-year\n\n\n\nHealthcare revenues of $2.4 million, up 14% year-over-year\n\n\n\nNet income from operations of $134,000, or 5% of revenues\n\n\n\nCash increased by $591,000 to $4.4 million from December 31st, 2022\n\n\n\nCompany received industry recognition with three new creative and social media awards\n\n\n\nManagement Commentary\n\n\n“The end of our first quarter of 2023 marked our thirteenth consecutive quarter over quarter revenue growth and our twelfth consecutive quarter of profitability,” remarked David Houston, Chief Financial Officer of LiveWorld. “As a company we remain focused on profitable growth while making strategic investments. We will look to accelerate our investments where we can see an improvement in the growth and delivery of our services. Our expectations are we will continue to see top line revenue growth, while maintaining our profitability, and generating cash from operations in 2023.”\n\n\nFinancial Review for the Three Months Ended March 31, 2023\n\n\nTotal revenues were approximately $2.7 million for the three months, as compared to the approximately $2.5 million in total revenues reported for the same period in 2022. This was an increase of approximately $297,000 or 12% when compared to the three months of 2022.\n\n\nThe company reported net income for the first quarter of approximately $134,000 or 5% of total revenues. This compares to net income of approximately $122,000 or 5% of total revenues reported for the first quarter of 2022.\n\n\nThe company finished the first quarter with approximately $4.4 million in cash and cash equivalents, as compared to approximately $3.8 million at the end of 2022.\n\n\nDetailed financial information may be downloaded at www.liveworld.com/ir (LiveWorld’s Investor Relations page) or at www.otcmarkets.com.\n\n\nAbout LiveWorld\n\n\nLiveWorld is a full-service, digital agency with deep social, creative, and compliance expertise that helps companies spark emotional connections, build stronger customer relationships, and drive behavior change. We operate at the intersection of bold creative rooted in strategy that captivates and resonates,...