Business
LiveWorld Reports Third Quarter Financial Results
LiveWorld Reports Third Quarter Financial Results.
About this update from Liveworld, Inc.
[{"type":"text","content":"\nLiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the third quarter of 2022, ended September 30.\n\nQ3 2022 Financial and Business Highlights\n\n\nQ3 total revenues of $2.8 million, up 3% year-over-year\n\n\nNine months total revenues of $8.0 million, up 8% year-over-year\n\n\nQ3 Healthcare revenues of $2.4 million, up 3% year-over-year\n\n\nNet income from operations of $253,000 or 9% of revenues\n\n\nCash was $3.5 million at end of quarter\n\n\nManagement Commentary\n\n“The third quarter was the tenth consecutive quarter of profitability and we saw continued growth in our revenues,” said David Houston, Chief Financial Officer of LiveWorld. “Over the past few months, we closed new clients in agency creative services, moderation, and technology. This will have a positive impact to both the top and bottom lines for the fourth quarter of 2022 and into 2023.”\n\n“Our current client relationships remain solid as we look to expand our offerings to them, even in this uncertain overall economy,” said David Houston. “Given the recent new client wins and growth of current clients, our expectations for the fourth quarter are for a material improvement in the revenues, which should provide for a higher level of profitability.”\n\nFinancial Review for Q3 and Nine Months Ended September 30th\n\nTotal revenues were approximately $2.8 million for the third quarter, as compared to the approximately $2.7 million in total revenues reported for the same period in 2021. This was an increase of approximately $91,000 or 3% when compared to the third quarter of 2021. Total revenues for the nine months ended September 30, 2022 were approximately $8.0 million, as compared to the $7.4 million for the nine months ended September 30, 2021. This was an increase of approximately $544,000 or 8% when compared to the nine months ended September 30, 2021.\n\nThe company reported net income for the quarter of approximately $253,000 or 9% of total revenues. This compares to net income of approximately $263,000 or 10% of total revenues reported for the third quarter of 2021. The company recorded net income for the nine months period ended September 30, 2022, of approximately $514,000, or 6% of total revenues, as compared to the net income for the nine months ended September 30, 2021, of appr...