LiveWorld Reports Second Quarter Financial Results

–Innovative Healthcare Digital Marketing Agency Delivers 14 Consecutive Quarters of Growth

LiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the second quarter of 2023.

Q2 2023 Financial and Business Highlights

• Total revenues of $3.1 million, up 13% year-over-year
• Healthcare revenues of $2.7 million, up 13% year-over-year
• Net income from operations of $164,000, or 5% of revenues
• Cash increased by $1.2 million to $5.0 million from December 31^st 2022
• Recognized as top performing healthcare digital agency in North America by MM+M

Management Commentary

“Our second quarter results demonstrate that we are continuing to deliver valuable solutions to our clients, primarily in the healthcare arena, as well as expanding our client base,” said Peter Friedman, Chairman and CEO, LiveWorld. “We’ve just achieved reaching the MM&M (Medical Marketing + Media) annual list of the top 100 healthcare agencies by revenue. This recognition is prestigious in its own right and reflects that our core offerings, social media expertise creative campaigns, and compliance implementation, are being sought out by healthcare industry leaders, including pharmaceutical, medical device, and hospital companies.”

“We ended our second quarter of operations marking our 14^th consecutive quarter over quarter revenue growth, while continuing to generate healthy profits and cash from operations,” remarked David Houston, Chief Financial Officer of LiveWorld. “We not only saw an increase in our top line revenue, we also experienced increases across the board growth in our creative services, moderation, and SaaS software license revenue. For the second half of 2023, we anticipate continued revenue growth while maintaining our profitability.”

Financial Review for the Three and Six Months Ended June 30, 2023

Total revenues were approximately $3.1 million for the three months, as compared to the approximately $2.7 million in total revenues reported for the same period in 2022. This was an increase of approximately $345,000 or 13% when compared to the three months of 2022.

Total revenues were approximately $5.8 million for the six months, as compared to the approximately $5.2 million in total revenues reported for the same period in 2022. This was an increase of approximately $642,000 or 12% when compared to the six months of 2022.

The company reported net income for the second quarter of approximately $164,000 or 5% of total revenues. This compares to net income of approximately $139,000 or 5% of total revenues reported for the second quarter of 2022.

The company reported net income for the six months of 2023 of approximately $298,000 or 5% of total revenues. This compares to net income of approximately $261,000 or 5% of total revenues reported for the six months of 2022.

The company finished the second quarter with approximately $5.0 million in cash and cash equivalents, and approximately $3.8 million compared to the end of 2022.

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 full-service, digital agency with deep social, creative, and compliance expertise that helps companies spark emotional connections, build stronger customer relationships, and drive behavior change. We operate at the intersection of bold creative rooted in strategy that captivates and resonates, social engagement that activates human interactions, and compliance to streamline processes, enabling innovative programs.

With over 27 years of making connections, we leverage our social media DNA and technology prowess 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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