LiveWorld Reports 2024 Financial Results
CAMPBELL, Calif. and NEW YORK , March 25, 2025 (GLOBE NEWSWIRE) -- LiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the year 2024.
Twelve Months 2024 Financial and Business Highlights
Total twelve months revenues of $11.3 million, a 1% reduction from 2023
Healthcare revenues of $10.2 million in 2024
Net income from operations of $69,000
Net Cash increased by $1.6 million to $6.2 million from December 31, 2023
Management Commentary
"In 2024 our top line revenues were relatively flat compared to 2023 as clients constrained their marketing budgets year-to-year," remarked David Houston, Chief Financial Officer of LiveWorld. "We were able to end the year with a positive net income of $69,000 even as we made investments for future growth. While we anticipate continued market uncertainty in 2025, we will continue our investment strategy. These investments may result in losses for the year."
"In 2024, we developed an AI strategic roadmap and significantly increased our investment in this area," commented Peter Friedman, Chairman and CEO. "Our AI solutions stand out by seamlessly integrating human expertise, curation, validation, and strategic insight, with advanced machine learning, analytics, and scalable technology."
"As we move into 2025, we are already delivering AI-powered products and accelerating our investments in this space. We expect our unique blend of AI and human intelligence to be a key driver of our medium- and long-term revenue growth, positioning us at the forefront of innovation and value creation for our investors," added Mr. Friedman.
Financial Review for the Twelve Months Ended December 31, 2024
Total revenues were approximately $11.3 million for the twelve months, as compared to approximately $11.5 million in total revenues reported for the same period in 2023. This was a decrease of approximately $110,000 or 1% when compared to the twelve months of 2023.
The company reported a net income for the twelve months of approximately $69,000 or 1% of total revenues. This compares to net income of approximately $214,000 or 4% of total revenues reported for the twelve months of 2023.
The company finished the year with approximately $6.6 million in cash and cash equivalents, compared to approximately $4.6 million at the end of 2023. The net cash available for operations was approximately $6.2 million at the end of 2024. The company defines net cash available for operations as cash, less media expenditure commitments.
Detailed financial information may be downloaded at www.liveworld.com/ir (LiveWorld's Investor Relations page) or at https://www.otcmarkets.com/stock/LVWD/overview.
About LiveWorld
LiveWorld is a social-first digital agency that unlocks the full potential of social media to transform customer relationships through integrated compliance, engagement, and insight solutions. We provide brand marketers bold creative rooted in strategy that captivates and resonates, social moderation and engagement that activates interactions, software that enriches customer experiences, and compliance that enables and accelerates digital programs.
With over 28 years of making connections, we leverage our social media DNA to deliver emotion-driven behavior change through digital campaigns with a human touch. LiveWorld clients include the number one brands in pharmaceuticals, healthcare, and financial-travel services. LiveWorld is headquartered in Campbell, California, with an additional office in New York City. Learn more at www.liveworld.com and
"Safe Harbor" Statement Under The Private Securities Litigation Reform Act This press release may contain forward-looking information concerning LiveWorld plans, objectives, future expectations, forecasts and prospects. These statements may include those regarding LiveWorld's current or future financial performance including but not limited to lists of clients, revenue and profit, use of cash, investments, relationships and the actual or potential impact of stock option expense, and the results of its product development efforts. Actual results may differ materially from those expressed in the forward- looking statements made as a result of, among other things, final accounting adjustments and results, LiveWorld's ability to attract new clients and preserve or expand its relationship with existing clients, LiveWorld's ability to retain and attract high quality employees, including its management staff, the ability to deliver new innovative products in a timely manner, changing accounting treatments, and other risks applicable to the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.
LiveWorld ContactsIR Contact: David HoustonLiveWorld (408) 615-8496
PR Contact: Matthew (737) 212-9739
LIVEWORLD, INC.
UNAUDITED CONDENSED BALANCE SHEETS
(In thousands, except share data)
December 31,
December 31,
2024
2023
ASSETS
Current assets
Cash and cash equivalent
$
6,603
$
4,635
Accounts receivable, net
682
1,701
Prepaid expenses
290
225
Total current assets
7,575
6,561
Property and equipment, net
33
44
Other assets
27
27
Total assets
$
7,635
$
6,632
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable
$
182
$
238
Accrued employee expenses
1,068
890
Other accrued liabilities
413
343
Deferred revenue
860
