LiveChat Software SA: revenue up 36.5%, net profit 35.3% in the first quarter of the financial year

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25.08.2022

LiveChat Software revenue grew 36.5%, net profit 35.3% in fiscal first quarter

The consolidated revenue of LiveChat Software Group in the first quarter of the financial year amounted to 66.8 million PLN and the net profit to 36.0 million PLN. This represents an increase of 36.5% and 35.3%, respectively, compared to the same period of the previous year.

“It was a very good quarter for us in terms of financial results and new customer acquisition. Our products are used by companies, institutions and offices in approximately 150 countries and in virtually all sectors. This translates by strong resistance to economic or political turmoil,” said CEO Mariusz Ciepły.

In the first quarter of the financial year, operating profit (EBIT) increased by 37.9% to PLN 38.7 million and EBITDA by 35.7% to PLN 42.0 million.

Almost all revenue is generated in dollars through the subsidiary LiveChat Inc. Therefore, the company publishes estimated revenue figures in dollars. Consolidated revenue estimated in the first quarter of fiscal year 2022/23 was $15.21 million, an increase of 16.8% year-over-year.

The Group’s MRR (“monthly recurring revenue”) value for all products at the end of June 2022 was $4.82 million, an increase of 3.9% compared to the end of March 2022 and 14.5 % year over year.

At the end of the first quarter of 2022/23, the number of paying LiveChat customers was 36,823, and for ChatBot it was 2,541. As of the publication date of the quarterly report, LiveChat has well over 37,000 paying customers.

In the first quarter of 2022/23, the LiveChat product accounted for 92% of the Group’s revenues, while the other products are experiencing dynamic growth. ChatBot revenue grew over 65% year over year, while HelpDesk nearly doubled.

This business model allows the Company to generate high and repeatable margins. During the year, gross margin on sales was 85.0%, EBITDA margin was 62.9% and net profit margin was 53.9%.

LiveChat also confirms its dividend policy, which provides for the allocation of the highest possible share of profit to shareholders. On August 18, 2022, the general meeting of shareholders decided to pay shareholders PLN 113.3 million from the autonomous net profit, which amounted to PLN 118.6 million last year. This translates into dividends of PLN 4.4 per share (taking into account interim dividends) compared to PLN 3.69 per share a year ago.

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