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Preliminary estimated revenue for Q4 2019/20 FY

Management Board of LiveChat Software SA informs that the estimated consolidated sales revenues of the LiveChat Software Capital Group in January - March 2020 (Q4 of financial year 2019/20) amounted to USD 9,075,194 and were 16.5% higher than those achieved in Q4 of the previous fiscal year.

In the same period of the previous year (January - March 2019), consolidated revenues amounted to USD 7,787,623.

In the period October - December 2019 (third quarter of the financial year 2019/20), consolidated revenues amounted to USD 8,406,881.

The Company indicates that its offer is addressed to business clients via websites, including www.livechat.com, www.chatbot.com, www.helpdesk.com, www.knowledgebase.ai.

The Management Board emphasizes that the presented data are estimates and preliminary. Therefore, they may ultimately differ from those shown in the periodic report. Because the Company generates the vast majority of revenues in the US dollar (USD), the USD / PLN exchange rate has a significant impact on the results presented in the periodic reports.

In reference to the communique of the Polish Financial Supervision Authority ("KNF"), in connection with the recommendations of the European Securities and Markets Authority ("ESMA"), the Company provides additional information on the impact of a pandemic on its operations:

From the week of March 9-15, the Company introduced a model based 100% on remote work. The Management Board believes that it currently does not have a negative impact on the continuity and quality of the company's services or development work carried out.

In recent weeks, the Company has recorded the following trends:

- The increase in the Churn indicator (customer leaving rate), which in March 2020 amounted to approx. 3.9% against the average of approx. 3% recorded on average in previous years. Higher churn results from the business problems of many of the Company's clients.

- A significant increase in the number of "trials" (users testing the LiveChat solution during the two-week free trial period) observed since March 16, 2020, and persisting in the following weeks. The increase in the number of "trials" translates into a higher number of new customers recorded in April.

- A significant increase in the value of upselling to current customers of the Company who increase the number of agents working using LiveChat.

Also, the indicators achieved in the first quarter were affected by the change in the LiveChat pricing model and the new ChatBot subscription plans introduced in January 2020.