LiveWorld Reports First Quarter 2024 Financial Results

Social-First Digital Agency Publishes Business Report Detailing Growth Strategy

LiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the first quarter 2024.

Three Months 2024 Financial and Business Highlights

• Total three months revenues of $2.6 million
• Healthcare revenues of $2.3 million in Q1 2024
• Net loss from operations of ($498,000)
• Cash decreased by $320,000 to $4.3 million from December 31, 2023
• Added pharma executives to the board of directors, Helen Chang and Jennifer Sherak
• LiveWorld Business Report published detailing business model and growth strategy

Management Commentary

“In the first quarter of 2024 we had controlled losses as we invested in new market segments and new solution sets for our current and new clients in 2024 and 2025,” remarked David Houston, Chief Financial Officer, LiveWorld. “We anticipate the losses to diminish as we see increased revenue for the rest of the 2024.”

LiveWorld is publishing concurrent with this quarterly financial report a business review which covers its vision, business model, solutions, and investment growth strategies. The report is available for download here.

“We are looking to set a foundation for improved growth by unlocking the true power of social media for our clients with an integrated set of solutions across proactive compliance, dynamic engagement, and strategic insight,” added Peter Friedman, Chairman & CEO, LiveWorld. “As we look to expand our core business in the pharma market, we are excited to expand our board of directors with the knowledge and expertise of seasoned industry executives Helen Chang and Jennifer Sherak.”

Financial Review for the Three Months Ended March 31, 2024

Total revenues were approximately $2.6 million for the three months, as compared to approximately $2.7 million in total revenues reported for the same period in 2023. This was a decrease of approximately $176,000 or 6% when compared to the three months of 2023. A portion of the reduced revenues was as a result of delays in obtaining completed contracts and purchase orders from clients, and we expect to see an increase in revenues in the second quarter as a result.

Including the investment based controlled losses, the company reported a net loss for the three months of approximately $498,000 or 20% of total revenues. This compares to net income of approximately $134,000 or 5% of total revenues reported for the three months of 2023.

The company finished the quarter with approximately $4.3 million in cash and cash equivalents, compared to approximately $4.6 million at the end of 2023.

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 @LiveWorld.

“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.

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