Key highlights from LiveHire's Q3 2024 report

LiveHire (ASX: $LVH) has released its Quarterly Activities Report for Q3 2024, showcasing a successful investor roadshow in Hong Kong and Singapore. The report highlights a closing cash balance of $4.8m, strong client retention, and double-digit revenue growth in the Direct Sourcing business. LiveHire's SaaS also demonstrated high client retention and solid revenue performance, with a focus on empowering recruitment effectiveness and productivity through AI-driven insights and deep partner integrations.

Executive commentary on Q3 2024 performance

The investor roadshow in Hong Kong and Singapore was a significant success, with meetings held with strategics, hedge funds, family offices, and brokers. The closing cash balance for the quarter of $4.8m exceeded our expectations, and our net operating cashburn of ($1.3m) tracked to plan. We are pleased with the strong client retention and revenue growth in both the SaaS and Direct Sourcing businesses. Our focus on empowering recruitment effectiveness and productivity through AI-driven insights and deep partner integrations has yielded positive results, as evidenced by the solid upgrade activity and momentum building into Q4.

Summary of Q3 2024 report and outlook

LiveHire's Q3 2024 report reflects a successful investor roadshow, strong client retention, and revenue growth. The company's focus on empowering recruitment effectiveness and productivity through AI-driven insights and deep partner integrations has contributed to solid upgrade activity and a healthy net revenue retention rate of 93%. With a closing cash balance of $4.8m and a focus on quality sales pipeline improvement, LiveHire is well-positioned for continued growth and success in the upcoming quarters. The company's ambitions to continue building deeper value within its AI-powered capabilities and to address emerging challenges in both contingent and permanent staffing bode well for its corporate strategy and future outlook.