LiveWorld Reports Fourth Quarter Financial Results

SAN JOSE, Calif.--()--LiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the year-end 2017. The Company’s revenues for the twelve months ended December 31, 2017 were approximately $9.9 million, as compared to the $9.7 million for the twelve months ended December 31, 2016.

The Company had a net loss for the twelve months ended December 31, 2017 of approximately $1.3 million, or 13% of total revenues, as compared to the net loss of approximately $1.3 million, or 14% of total revenues for the twelve months ended December 31, 2016.

The Company finished the fourth quarter with approximately $2.3 million in cash and cash equivalents, as compared to the approximately $2.6 million at the end of 2016.

“In 2017 we made concerted efforts to expand our footprint in the healthcare markets,” said David Houston, Chief Financial Officer of LiveWorld. “We saw our new revenue in healthcare grow by approximately 24% in the year. This growth came from new and existing relationships in pharma, as well as, new client relationships with insurance providers and hospitals.”

Detailed financial information may be downloaded at (LiveWorld’s Investor Relations page) or at

About LiveWorld

At LiveWorld, we provide conversation management software, consulting, and online agent workforce services. These empower companies to manage conversations in messaging apps and social media to develop deeper relationships with customers. We specialize in handling the speed and scale requirements of brands to engage customers 1-on-1 in real-time and deliver personalized interactions with a human touch. Our conversation-centric software is designed to track and manage dialogue, engage customers, and integrate chatbots and human agents with enterprise systems. Companies are able to quickly solve the scale, security, automation, and multi-social channel challenges associated with marketing and customer service programs. LiveWorld services include strategy, campaign management, content moderation, engagement, customer service, and social analytics. Our team of marketing strategists, conversation specialists, chatbot experts, social data analysts, online agents, and software developers collaborate to deliver marketing and customer service solutions that seamlessly integrate software and human teams. LiveWorld clients include the number one brands in consumer packaged goods, retail, pharmaceutical, and financial-travel services. LiveWorld is headquartered in San Jose, California, with an additional office in New York City. Learn more at 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.

(In thousands, except share data)
December 31, December 31,
2017 2016
Current assets
Cash and cash equivalent $ 2,270 $ 2,555
Accounts receivable, net 304 805
Prepaid expenses   148     102  
Total current assets 2,722 3,462
Property and equipment, net 48 55
Other assets   19     20  
Total assets $ 2,789   $ 3,537  
Current liabilities
Accounts payable $ 190 $ 254
Accrued employee expenses 516 497
Other accrued liabilities 205 71
Deferred revenue   651     517  
Total current liabilities   1,562     1,339  
Total liabilities 1,562 1,339
Stockholders' equity
Common stock: $0.001 par value, 100,000,000 shares authorized 33,388,545 issued and outstanding as of December 31, 2017 and December 31, 2016 respectively 34 34
Additional paid-in capital 142,968 142,600
Accumulated deficit   (141,775 )   (140,436 )
Total stockholders' equity   1,227     2,198  
Total liabilities and stockholders' equity $ 2,789   $ 3,537  
(In thousands, except per share data)
Twelve Months Ended
December 31,
2017 2016
Total revenues $ 9,949 $ 9,730
Cost of revenues   3,945     3,863  
Gross Margin 6,004 5,867
Operating Expense
Product development 2,229 2,506
Sales and marketing 2,383 2,138
General and administrative   2,733     2,507  
Total operating expense   7,345     7,151  
Income / (loss) from operations   (1,341 )   (1,284 )
Income / (loss) before tax (1,341 ) (1,284 )
Other Income / Expense 17 24
Provision for income taxes   14     1  
Net income / (loss)   (1,338 )   (1,261 )
Basic income / (loss) per share $ (0.04 ) $ (0.04 )
Shares used in computing basic loss per share 33,388,545 33,388,545
Diluted net income (loss) per share $ (0.04 ) $ (0.04 )
Shares used in computing diluted income (loss) per share 33,388,545 33,388,545
Departmental allocation of stock-based compensation:
Cost of revenues $ 53 $ 69
Product development 68 103
Sales and marketing 60 25
General and administrative   187     203  
Total stock-based compensation $ 368   $ 400  
(In thousands)
  Twelve Months Ended
December 31,
2017   2016
Cash flows from operating activities:
Net income (loss) $ (1,338 ) $ (1,261 )

Adjustments to reconcile net income (loss) provided by (used in) operating activities:

Depreciation of long-lived assets 29 40
Stock-based compensation 368 400
Loss on sale of assets ------- ------
Changes in operating assets and liabilities:
Accounts receivable 501 (389 )
Other assets (47 ) 2
Accounts payable (64 ) 165
Accrued liabilities 153 72
Deferred revenue   134     45  
Net cash provided by (used in) operating activities   (264 )   (926 )
Cash flows from investing activities:
Purchase of property and equipment   (21 )   (57 )
Net cash provided by (used in) investing activities   (21 )   (57 )
Cash flows from financing activities:
Proceeds from exercise of stock options ------- ------
Net cash provided by (used for) financing activities   -------     ------  
Change in cash and cash equivalent (285 ) (983 )
Cash and cash equivalents, beginning of period   2,555     3,538  
Cash and cash equivalents, end of period $ 2,270   $ 2,555  
Supplemental disclosure of non-cash financing and investing activities:
Income tax paid $ 14   $ 1  


IR Contact:
David Houston, 408-615-8496
PR Contact:
Jason Kapler, 917-722-8281


IR Contact:
David Houston, 408-615-8496
PR Contact:
Jason Kapler, 917-722-8281