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LiveChat Software’s revenue up 34% year over year, and net profit up by 27.4% in the first half of the year

LiveChat Software Group reported PLN 141.3M of revenues in H1 of the financial year 2022/23 (which started on April 1) and PLN 75.6M of the consolidated net profit, up 35.1% and 27.4% respectively year over year.

“It has been a busy half of a year, but a good one. Our priorities remain unchanged,”said Mariusz Ciepły, LiveChat Software CEO.“We are concentrating on the value we bring our clients and end users. We rolled out 40 new, important integrations in the last three years. Simultaneously we have developed our other products, and in November, we launched the first version of the OpenWidget solution.”

In the period of April-September 2022, the Group earned PLN 81.3M in net operating profit (up by 27.3%) and PLN 88.1M in EBITDA, up 26.7% year on year.

Q2 earnings of the group grew 33.9% year on year to PLN 74.5M and a 21.0% net profit year on year to PLN 39.6M.

Despite a high inflation rate in Poland and worldwide resulting in an increase of other costs, the company is still growing its team and maintaining high profitability. As of the end of September, the company has been cooperating with 283 team members (compared to 221 a year ago). Whereas in the year's first half, the gross profit margin on sales was 86.2%, the operating profit margin was 57.5%, and the net profit margin was 53.5%.

LiveChat Software had PLN 40.1M at its disposal at the end of September. Therefore, the Management Board confirms the company’s dividend policy, which assumes allocating the highest possible part of the profit to shareholders (unless no investments appear that would provide a higher return rate to shareholders). LiveChat Software paid a record-high dividend of PLN 4.40 per share from the net profit of the past year.

Between May and September 2022, the company verified the price lists of all four products, which will significantly affect the financial results in the upcoming periods. In November, LiveChat Software presented the first version of OpenWidget, which is a free solution and may become a distribution platform for LiveChat and other products or get a premium version. The company is also working on other new products.