Business
LiveWorld Reports Second Quarter 2024 Financial Results
LiveWorld Reports Second Quarter 2024 Financial Results.
About this update from Liveworld, Inc.
[{"type":"text","content":"\nLiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the second quarter 2024.\n\n\nQ2 2024 Financial and Business Highlights\n\n\n\nTotal three months revenues of $2.8 million\n\n\n\nHealthcare revenues of $2.4 million in Q2 2024\n\n\n\nNet loss from operations of ($134,000)\n\n\n\nCash increased by $136,000 to $4.8 million from December 31, 2023\n\n\n\nManagement Commentary\n\n\n“In the first six months of 2024 we have seen net losses as a result of reduced revenues and our planned investment for 2024,” remarked David Houston, Chief Financial Officer of LiveWorld. “During this period we signed new clients and increased programs with some current clients. But we also found some corporate budgets tighten which we believe is a short-term condition. This combined with the usual client program attrition, indicate the full year 2024 revenues will be relatively flat when compared to 2023. Long term we believe our market segments and product lines are poised for growth.”\n\n\n“2024 and 2025 are investment years for LiveWorld,” said Peter Friedman, Chairman & CEO. “Our new solutions in managing advertising media and in providing compliance support for pharma digital and social media marketing, along with our existing award-winning creative advertising programs and best in class moderation, are being well received. We expect these and our entry into new segments in the healthcare market to form a foundation for growth in future years.”\n\n\nFinancial Review for the Three and Six Months Ended June 30, 2024\n\n\nTotal revenues were approximately $2.8 million for the three months, as compared to approximately $3.1 million in total revenues reported for the same period in 2023. This was a decrease of approximately $284,000 or 9% when compared to the three months of 2023.\n\n\nTotal revenues were approximately $5.4 million for the six months, as compared to approximately $5.8 million in total revenues reported for the same period in 2023. This was a decrease of approximately $459,000 or 8% when compared to the three months of 2023.\n\n\nThe company reported a net loss for the three months of approximately $134,000 or 5% of total revenues. This compares to net income of approximately $164,000 or 5% of total revenues reported for the three months of 2023.\n\n\nThe compa...