Business
LiveWorld Reports Second Quarter Financial Results
LiveWorld Reports Second Quarter Financial Results.
About this update from Liveworld, Inc.
[{"type":"text","content":"\nLiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the second quarter of 2023.\n\n\nQ2 2023 Financial and Business Highlights\n\n\n\nTotal revenues of $3.1 million, up 13% year-over-year\n\n\n\nHealthcare revenues of $2.7 million, up 13% year-over-year\n\n\n\nNet income from operations of $164,000, or 5% of revenues\n\n\n\nCash increased by $1.2 million to $5.0 million from December 31st 2022\n\n\n\nRecognized as top performing healthcare digital agency in North America by MM+M\n\n\n\nManagement Commentary\n\n\n“Our second quarter results demonstrate that we are continuing to deliver valuable solutions to our clients, primarily in the healthcare arena, as well as expanding our client base,” said Peter Friedman, Chairman and CEO, LiveWorld. “We’ve just achieved reaching the MM&M (Medical Marketing + Media) annual list of the top 100 healthcare agencies by revenue. This recognition is prestigious in its own right and reflects that our core offerings, social media expertise creative campaigns, and compliance implementation, are being sought out by healthcare industry leaders, including pharmaceutical, medical device, and hospital companies.”\n\n\n“We ended our second quarter of operations marking our 14th consecutive quarter over quarter revenue growth, while continuing to generate healthy profits and cash from operations,” remarked David Houston, Chief Financial Officer of LiveWorld. “We not only saw an increase in our top line revenue, we also experienced increases across the board growth in our creative services, moderation, and SaaS software license revenue. For the second half of 2023, we anticipate continued revenue growth while maintaining our profitability.”\n\n\nFinancial Review for the Three and Six Months Ended June 30, 2023\n\n\nTotal revenues were approximately $3.1 million for the three months, as compared to the approximately $2.7 million in total revenues reported for the same period in 2022. This was an increase of approximately $345,000 or 13% when compared to the three months of 2022.\n\n\nTotal revenues were approximately $5.8 million for the six months, as compared to the approximately $5.2 million in total revenues reported for the same period in 2022. This was an increase of approximately $642,000 or 12% when compared to the s...