LiveWorld Reports Second Quarter 2022 Financial Results

- Ninth consecutive profitable quarter for Company -

LiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the second quarter of 2022.

Q2 2022 Financial and Business Highlights

• Q2 total revenues of $2.7 million, up 9% year-over-year
• Six months total revenues of $5.2 million, up 10% year-over-year
• Q2 Healthcare revenues of $2.4 million, up 10% year-over-year
• Net income from operations of $139,000 or 5%
• Cash increased to $3.5 million, or 21% from the first quarter of 2022
• The company continues to operate using no debt

Management Commentary

“Our second quarter was the ninth consecutive quarter of profitability combined with double digit growth in our healthcare related revenues,” said David Houston, Chief Financial Officer of LiveWorld. “Our focus on running the business profitably while expanding our efforts in the healthcare sector are paying off in 2022. We expect to see continued profitability for the rest of the fiscal year, even as we invest in our sales and marketing to grow our revenues.”

“We are in a very solid financial position with a history of proven profitability, our improved cash and current asset position, and doing it without incurring any debt. Given our ability to generate cash from operations and our profits we do not see a need to use any debt in the future,” said David Houston. “Given the current economic climate our client relationships are stable as we have increased current client revenues by providing new and additional services to our client base.”

Financial Review for Q2 and Six Months Ended June 30^th

Total revenues were approximately $2.7 million for the second quarter, as compared to the approximately $2.5 million in total revenues reported for the same period in 2021. This was an increase of approximately $226,000 or 9% when compared to the second quarter of 2021. Total revenues for the six months ended June 30, 2022 were approximately $5.2 million, as compared to the $4.7 million for the six months ended June 30, 2021. This was an increase of approximately $453,000 or 10% when compared to the six months ended June 30, 2021. The healthcare related revenues grew 10% when compared to the second quarter of 2021.

The company reported net income for the quarter of approximately $139,000 or 5% of total revenues. This compares to net income of approximately $130,000 or 5% of total revenues reported for the second quarter of 2021. The company recorded net income for the six months period ended June 30, 2022, of approximately $261,000, or 5% of total revenues, as compared to the net income for the six months ended June 30, 2021, of approximately $251,000, or 5% of total revenues.

The company finished the second quarter with approximately $3.5 million in cash and cash equivalents, an increase of approximately $600,000 or 21% from the end of Q1 of 2022 and approximately $3.6 million compared to the end of 2021.

Detailed financial information may be downloaded at www.liveworld.com/ir (LiveWorld’s Investor Relations page) or at www.otcmarkets.com.

About LiveWorld

LiveWorld is a digital agency specializing in social media and technology solutions that help companies spark emotional conversations, build stronger customer relationships, and drive behavior change. We live at the intersection of bold creative rooted in strategy that inspires, moderation that activates human interactions, and technology that enriches and scales customer experiences.

With over 25 years of making connections, our integrated team leverages 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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