LiveToBeHappy publishes its results for the first quarter of 2022; Revenue grows 106% YoY to $2.7M

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CHARLOTTE, North Carolina, May 20, 2022 (GLOBE NEWSWIRE) — LiveToBeHappy, Inc. (OTC: CAVR) (“LTBH” or the “Company”), a vertically integrated real estate and lifestyle services company, today announced its financial results for the three months ended March 31, 2022.

Recent Company Highlights

  • Revenue grew 106% year over year for $2.7 million in the first quarter of 2022
  • Gross profit increased 84% year over year for $473,000 in the first quarter of 2022
  • Completed five acquisitions in the fourth quarter of 2021, which in aggregate are accretive to revenue and gross profit

Management commentary

“Our revenue and gross margin growth in the first quarter is a direct result of our execution against our growth strategy,” said Kevin Vincent Coxgeneral manager of LiveToBeHappy, Inc. “The five acquisitions we completed at the end of 2021 have already contributed to our financial performance, representing more than 30% of our first quarter consolidated revenues. As we look forward to the remainder of 2022, we remain focused on evaluating and closing other opportunities in our strong M&A pipeline while driving efficiencies in our current operating portfolio. We have built a strong foundation for our platform, from which we plan to build a business that will ultimately generate sustainable, long-term value for our shareholders.

“By investing in growth catalysts and the operational efficiencies of our platform, we are demonstrating our ability to prudently deploy capital as we prepare for the next phase of our business,” said Grant Edwardsfinancial director of LiveToBeHappy, Inc. “In addition to our growth investments, we are focused on improving our balance sheet and capital structure by repaying our convertible bonds and returning capital to our shareholders in the form of share buybacks. We expect our acquisitions to gradually contribute to our financial progress over the coming quarters, and alongside our planned OTCQB listing, we are strongly positioned to continue our transformation as a business.

Outlook

On a preliminary unaudited basis, the Company expects revenues of at least $11 million, reflecting a 307% increase over the prior year quarter. The Company also reaffirms its 2022 outlook of at least doubling its 2021 revenue for $30 million.

On LiveToBeHappy, Inc.

LTBH is a Lifestyles platform company that acquires undervalued assets and manages them professionally. LiveToBeHappy Inc. has several investments which are described in its respective documents. LTBH still has two pending acquisitions under letters of intent that are expected to transform the company into a vertically integrated real estate and lifestyle services company with a broader footprint and a more diversified revenue stream. The company’s mission is to build lives, not just places to live. For more information, please visit our website at www.livetobehappy.com.

Forward-looking statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release that do not relate to historical facts should be considered forward-looking statements, including statements that include words “expect”, “intend”, “plan”, “believe”, “project”, “anticipate”, “estimate”, “may”, “should”, “anticipate”, and similar statements future or forward-looking in nature. These forward-looking statements are based on management’s current expectations. These statements are not promises or guarantees, but involve known and unknown risks, uncertainties and other important factors that may that the actual results, performance or achievements are materially different from any future results, performance or achievements expressed or implied by the forward-looking statements s. statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.

Investor Relations
MZ North America
+1 949-546-6326
[email protected]

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Source: LiveToBeHappy, Inc.

2022 GlobeNewswire, Inc., source Press Releases

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