LiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the third quarter of 2022, ended September 30.

Q3 2022 Financial and Business Highlights

• Q3 total revenues of $2.8 million, up 3% year-over-year
• Nine months total revenues of $8.0 million, up 8% year-over-year
• Q3 Healthcare revenues of $2.4 million, up 3% year-over-year
• Net income from operations of $253,000 or 9% of revenues
• Cash was $3.5 million at end of quarter

Management Commentary

“The third quarter was the tenth consecutive quarter of profitability and we saw continued growth in our revenues,” said David Houston, Chief Financial Officer of LiveWorld. “Over the past few months, we closed new clients in agency creative services, moderation, and technology. This will have a positive impact to both the top and bottom lines for the fourth quarter of 2022 and into 2023.”

“Our current client relationships remain solid as we look to expand our offerings to them, even in this uncertain overall economy,” said David Houston. “Given the recent new client wins and growth of current clients, our expectations for the fourth quarter are for a material improvement in the revenues, which should provide for a higher level of profitability.”

Financial Review for Q3 and Nine Months Ended September 30^th

Total revenues were approximately $2.8 million for the third quarter, as compared to the approximately $2.7 million in total revenues reported for the same period in 2021. This was an increase of approximately $91,000 or 3% when compared to the third quarter of 2021. Total revenues for the nine months ended September 30, 2022 were approximately $8.0 million, as compared to the $7.4 million for the nine months ended September 30, 2021. This was an increase of approximately $544,000 or 8% when compared to the nine months ended September 30, 2021.

The company reported net income for the quarter of approximately $253,000 or 9% of total revenues. This compares to net income of approximately $263,000 or 10% of total revenues reported for the third quarter of 2021. The company recorded net income for the nine months period ended September 30, 2022, of approximately $514,000, or 6% of total revenues, as compared to the net income for the nine months ended September 30, 2021, of approximately $514,000, or 7% of total revenues.

The company finished the third quarter with approximately $3.5 million in cash and cash equivalents, 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 connections, 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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