Text S.A. (OTCPK:LCHTF) Q2 2024 Earnings Call Transcript October 3, 2024 8:00 AM ET
Company Participants
Lucja Kaseja – IR
Marcin Droba – IR
Operator
[Starts Abruptly] At the end of the presentation, there will be an opportunity to ask questions. So without further ado, I will now pass the line to Lucja. Please go ahead.
Lucja Kaseja
Ladies — sorry, just going to Start with the slides. Ladies and gentlemen, thank you for joining us today to review Text performance for the second quarter of 2004-2005 financial year. I’m pleased to share some key highlights and insights into our financial and operational achievements during this period. Firstly, I’d like to begin with the payments received. They have grown by almost 15% year-over-year, and they reached $22.84 million. It’s actually a record high quarter in terms of the payments and as we run the business that’s exactly where the money comes from. This is an increase of 1% quarter-on-quarter which is another good thing.
We will go now into MRR. That’s the second metric we are reporting. MRR stands for monthly recurring revenues and we also saw an increase in terms of year-on-year increase, that’s 8.8%. And monthly recurring revenues were $7,040,000. However, we did experience a 0.4% decline quarter-on-quarter, mainly due to the drop in the customer numbers, but it was also offset by a higher average revenue per license. I’m going to talk about it on the next slides.
Now looking at LiveChat, our flagship product. We experienced some challenges this quarter with over 1,000 customers leaving the product. There were a couple of reasons for this drop. It was largely due to higher churn rates, particularly in Asian market. And in terms of the months that was July when the churn was the highest. But also, there were some things that we changed unsuccessfully in
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