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LiveChat Software posted PLN 48.3 m net profit in the 2017 fiscal year

LiveChat Software reached consolidated sales of PLN 89.4 m in the fiscal year 2017, that's 17.3% more than the year before. Between April 1, 2017 and March 31, 2018, its EBITDA totaled PLN 63.2 m and its net profit reached PLN 48.3 m.

Last year the group has unveiled and developed new products, a chatbot building tool, BotEngine, a solution to create corporate knowledge databases, KnowledgeBase and chat.io, a chat application that supports continuous conversation with the users and which can be integrated with various communications channels.

„We are continuing the strategy of developing the technologies that facilitate communication between companies and consumers. We strive to create an ecosystem of tools and solutions which support our users in this respect. That is why, we are not merely developing LiveChat, our flagship product, but are also bringing new solutions to the market, with a primary goal to support and improve the effectiveness of customer service,” – said LiveChat Software CEO Mariusz Ciepły.

Both, in 4Q and in the entire fiscal year 2017, the group reported very strong operating results. In 4Q alone its sales totaled PLN 23.0 m, EBITDA PLN 16.1 m and its net profit PLN 12.8 m. Gross profit margin for the entire year has reached 82.3%, EBITDA margin 70.7% and net margin 54.0%.

Customer base growth rate remains the key for the financial results. As of April 1, 2018, a total of 24,065 clients, or 25% more than the year before, were using the paid “LiveChat” solution.

„In the fiscal year 2017_, we continued_ the rapid growth of our activities, improving our financial results at a double-digit rate compared to the previous year. We are maintaining very high profit margins and generating strong operating cash flows and thus, we are able to continue the policy of sharing profits with shareholders,” Mariusz Ciepły, the CEO of LiveChat Software said.

LiveChat Software business model allows the company to finance growth and, at the same time, effectively generate cash. In the fiscal year 2017, net operating cash totaled at PLN 48.2 m. In the same period, the company has paid its shareholders a dividend totaling PLN 36.3 m for the fiscal year 2016 and an advance dividend totaling PLN 11.3 m. At the year’s end, the group held cash totaling PLN 30.1 m.

LiveChat solution is used by clients in over 150 countries. These include corporations such as Sony Mobile, Stripe, Tele2, BenQ, Huawei, Unilever, Tesla, Adobe, Pizza Hut, Ryanair and numerous others, public administration, including the US State Department, academic institutions (Stanford University) and even sports clubs, including Tottenham Hotspur and the Vancouver Canucks. Geographically, LiveChat Software’s biggest market is North America. Solutions of the Wroclaw-based software house are used by clients from all industries, but most clients come from sectors such as IT, education, retail sales, entertainment and marketing.