On Wednesday, LiveWorld Inc. (OTC: LVWD) was one of the many companies that announced its financial results. However, the market reacted with singular positivity about the stock, and it ended the day with gains of 30%. Here’s a look at the key details.
Performance
In the third fiscal quarter of 2024, LiveWorld reported revenues of $3.1 million, which reflected year-on-year growth of 13%. Out of the total revenues, healthcare revenues accounted for $2.6 million, which recorded year-on-year growth of 17%.
In the quarter, the company also reported net income to the tune of $291,000, and that worked out to an improvement of a staggering $245,000 from the prior year quarter. At the end of the quarter, LiveWorld reported a cash balance of $6.2 million, which reflected an increase of $1.5 million from the quarter that ended on December 31, 2023.
Further Information
In the news release, the company further noted that it was in the third fiscal quarter that the company’s investments had started to pay off, and that was one of the major factors behind the staggering growth in net income from the prior year quarter. In light of the performance and the rally in the stock, it could be a good idea to keep an eye on the LiveWorld stock today.
Management Quote
“In the third quarter we began to see our investment efforts start to pay off, with our total revenues growing from $2.8 million in the third quarter of 2023 to $3.1 million for the same period this year, or 13%. As a result, we saw a material improvement in our bottom line from approximately $46,000 to $291,000 for the period,” remarked David Houston, Chief Financial Officer of LiveWorld. “As we continue to invest for the future, we expect the second half of 2024 to be materially better with approximately 15-20% growth over our revenues in the first six months of the year.”
