The consolidated revenues of the LiveChat Software Group in the first quarter of the financial year amounted to PLN 66.8 million, and the net profit was PLN 36.0 million. This represents an increase of 36.5% and 35.3%, respectively, compared to the same period in the previous year.
“It was a very strong quarter for us in terms of financial results and acquiring new clients. Our products are used by companies, institutions, and offices from around 150 countries, and from virtually all industries. This translates into high resistance to economic or political turmoil” said CEO Mariusz Ciepły.
In the first quarter of the financial year the operating profit (EBIT) increased by 37.9% to PLN 38.7 mn and EBITDA by 35.7% to PLN 42.0 mn.
Almost all revenues are generated in dollars through the subsidiary LiveChat Inc. Therefore, the Company publishes estimated revenue figures in dollar terms. The estimated consolidated revenues in the first quarter of 2022/23 financial year amounted to USD 15.21 mn, which is an increase of 16.8% year on year.
The Group’s MRR (“monthly recurring revenues”) value from all products at the end of June 2022 amounted to USD 4.82 million, an increase of 3.9% from the end of March 2022 and of 14.5% year on year.
At the end of Q1 2022/23, the number of paying LiveChat clients was 36,823, and for ChatBot it was 2,541. As of the date of the publication of the quarterly report, LiveChat has considerably more than 37k paying clients.
In Q1 2022/23 LiveChat product was responsible for 92% of the Group’s revenues, while the other products grow dynamically. ChatBot’s revenues increased by more than 65% year on year while HelpDesk generated an almost twofold increase.
This business model allows the Company to generate high and repeatable margins. In the financial year, the gross margin on sales was 85.0%, the EBITDA margin was 62.9%, and the net profit margin was 53.9%.
LiveChat also confirms its dividend policy, which provides for the allocation of the highest possible part of the profit to the shareholders. On 18 August 2022, the General Meeting of Shareholders decided to pay out to shareholders PLN 113.3M from the standalone net profit, which amounted to PLN 118.6M last year. This translates into dividends in the amount of PLN 4.4 per share (taking into account the advance payments for dividends) compared to PLN 3.69 per share a year ago.