25.02.2021

LiveChat Software recorded PLN 46.2 million in revenues and PLN 26.2 million in net profit in the third quarter

In the third quarter of its financial year, LiveChat Software recorded PLN 46.2 million in revenues and PLN 30.4 million in EBITDA profit - this is an increase of 42.8% and 43.6%, respectively, compared with the results recorded a year ago. The net profit amounted to PLN 26.2 million compared to PLN 15.8 million in the corresponding quarter of the previous year, and this result was influenced by the recognition of the IP Box tax relief.

“We are working to achieve the goals we set for ourselves in our Constitution - to change the way companies communicate with their clients and to eliminate barriers in online communication. This is one of the reasons why we are constantly expanding our team,”said the Cmpany’s CEO Mariusz Ciepły.

In the three quarters of the financial year that began in April, the Group’s revenues increased by 38.1% to PLN 131.0 million, EBITDA by 35.8% to PLN 84.7 million, and net profit amounted to PLN 72.6 million. The Company generates virtually all revenues in the US dollar, therefore the reported results are significantly affected by the dollar / zloty exchange rate.

From the beginning of 2020, LiveChat presents preliminary estimated revenues measured in USD, which best show investors the fundamental situation of the Company. Revenues measured in this way in the third quarter increased by 44.9% yoy (USD 12.18 million compared to USD 8.41 million a year ago) - in the previous quarter, the increase was 39% year on year.

“Online communication is increasingly important to companies, but above all to people around the world. This is not a new trend triggered by the pandemic, although certainly and significantly strengthened it.”emphasized Mariusz Ciepły.

In the third quarter, LiveChat continued, among others expansion of the sales department, which resulted in new companies joining us as clients:

·operator of the largest site in the “sports betting” category in the Asia-Pacific region,

·global IT company with revenues of USD 10 billion,

·a financial services firm with over $ 500 billion in asset management.

The legal department also succeeded. In December 2020, the Company received information about the registration by the US Patent Office (USPTO) of the patent “method and system of displaying greetings or dedicated messages to end-users based on qualifiers”.

The patent was granted in the United States and the Company is entitled to legal protection for a period of 20 years. The patented solution is used in LiveChat and is used to display a custom message to the end-user based on information stored in the database.

“By filing patents, we protect our competitive advantage based on technological solutions. This is the first such application approved, so it is especially important to us” said Katarzyna Rogowska, head of the Company’s legal team. LiveChat Software conducts processes aimed at obtaining legal protection in the USA for its other subsequent solutions.