LiveChat Software S A : Group revenues increased by 41.9% and net profit by 44.8% in the 2022/23 financial year

03.07.2023 LiveChat Software Group revenues increased by 41.9% and net profit by 44.8% in the 2022/23 financial year

LiveChat Software Group's consolidated revenue in the 2022/23 fiscal year amounted to 315.7 million PLN and net profit amounted to 172.4 million PLN. This represents an increase of 41.9% and 44.8%, respectively, compared to the previous fiscal year.

The Group's operating profit increased by 44.8% to PLN 185.5 million, and EBITDA amounted to PLN 200.0 million after an increase of 42.8%.

During the financial year (April 2022 - March 2023), the number of the Company's customers and the average revenue per customer (ARPU) grew. At the end of March 2023, LiveChat solution was already being used by 37,061 companies and institutions in some 150 countries worldwide, while ChatBot supported the communications of 2,708 customers. This is an increase of more than fifteen hundred and more than three hundred net customers, respectively. The dollar-nominated ARPU of the LiveChat product increased by 32.1% during the year, while ChatBot's growth was 18.2%.

"As always, we are focused on supporting our customers in the best possible way, and we are doing it better and better. The number of chats conducted through LiveChat and ChatBot in the fiscal year increased by almost 70% and exceeded 1.7 billion is clear evidence. At the same time, HelpDesk handled 5.5 million tickets."- CEO Mariusz Ciepły said.

The Company is on the growth path but, at the same time, maintains very high efficiency in its business. In the fiscal year, the gross sales margin was 85.3%, the operating margin was 58.8%, and the net profit margin was 54.6%. This translates into the Company's very high cash generation capacity. Net cash flow from operating activities amounted to 178.6 million PLN, 79.3 million PLN higher than the previous year. At the end of March 2023, the Group had cash and cash equivalents of PLN 95.8 million.

An important indicator to assess the Group's growth is MRR (Monthly Recurring Revenue). The Group's MRR from all products, as of the end of March 2023, was $6.40 million, up 0.8% from the end of December 2022 and 37.9% year-on-year.

At the end of 2022, LiveChat Software purchased the web domain text.com.

"At the upcoming general meeting, we would like to ask shareholders for approval to change the name of our Company. Text is a name that reflects that we are no longer a one-product company - we already have five products. We also emphasize that we are focused on this mode of communication, and our ambition is to be the world's best experts in this field."- Mariusz Ciepły said.

The Company's vision and entire product portfolio are already presented on text.com, but very strong web domains (including livechat.com, chatbot.com, and helpdesk.com) will continue to support its busines