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Livechat Software $LVC $LVCP 
@LiveChat
SaaS company under the radar
unbelievable profit margins
Revenue growth 45 %
Rule of 40 > 90
31.000 customers in over 150 countries
management with skin in the game
still cheap
A Thread
@LiveChat
SaaS company under the radarunbelievable profit margins Revenue growth 45 %Rule of 40 > 9031.000 customers in over 150 countriesmanagement with skin in the gamestill cheap A Thread
The company:
based in Poland 
Founder-operator management with ~ 41% of shares
Market cap ~ $800m USD
went public on Warsaw stock exchange in 2014
25+ customers from Fortune 500 list: Unilever, McDonalds, Adobe, Samsung, Paypal, Sony, Mercedes...
Next Products
based in Poland Founder-operator management with ~ 41% of shares Market cap ~ $800m USDwent public on Warsaw stock exchange in 201425+ customers from Fortune 500 list: Unilever, McDonalds, Adobe, Samsung, Paypal, Sony, Mercedes...Next Products
Live Chat
a tool for quick contact between clients and the company
using chat application
embedded on the companies website
for customer service or online sales
companies flagship product
a tool for quick contact between clients and the companyusing chat applicationembedded on the companies websitefor customer service or online sales companies flagship product
ChatBot 
a product which allows the creation of conversational chatbots
to handle various business scenarios
integrated with LiveChat but also other tools like Facebook Messenger
growing exponentially off a small base
a product which allows the creation of conversational chatbots to handle various business scenariosintegrated with LiveChat but also other tools like Facebook Messenger growing exponentially off a small base
Knowledge Base 
platform that allows companies to create their own knowledge bases
which can accessed by employees and clients
to organize and quickly retrieve information that require more explanation
platform that allows companies to create their own knowledge bases which can accessed by employees and clients to organize and quickly retrieve information that require more explanation
Help Desk 
ticketing system
helps to solve all customer cases in an easy way
So LiveChat Software offers different products for text based business communication tools. And in this market there is a well known competitor with @Zendesk
ticketing system helps to solve all customer cases in an easy waySo LiveChat Software offers different products for text based business communication tools. And in this market there is a well known competitor with @Zendesk
Zendesk is the market leader for live chat products But @LiveChat is growing faster than Zendesk and is capturing market share In the last quarter LiveChat grew with 45% in revenues while the livechat segment of zendesk decreased
Zendesk is a good company but also highly valued right now While the EV/Sales of Zendesk and Livechat is nearly the same, LiveChat is already highly profitable and Zendesk reports lossesSo let‘s take a look at the margins and financials of LiveChat
Margins 
Gross Profit 82.8 %
EBITDA 64.1 %
EBIT 58.6 %
Net Income 54.8 %*
*incl. tax benefits; without these benefits the net income margin would be 47%
Gross Profit 82.8 %EBITDA 64.1 %EBIT 58.6 %Net Income 54.8 %**incl. tax benefits; without these benefits the net income margin would be 47%
Financial Results H1 20/21
Revenue +35.6 %, in Q3 20/21 even 45 % growth is accelerating due to Covid
EBITDA +31.8 %
Net Profit +49.4 % *
*incl. tax benefits; without it ~30%
Revenue +35.6 %, in Q3 20/21 even 45 % growth is accelerating due to CovidEBITDA +31.8 %Net Profit +49.4 % **incl. tax benefits; without it ~30%
Valuation (TTM) 
EV/Sales 17
PE 28
PEG < 1
Rule of 40 > 90
You get a highly profitable company for 28x net earnings a clean balance sheet (no debt), growing with 45 % in top line and over 30 % bottom line, over 60 % operating margin and 120 % ROC
EV/Sales 17PE 28PEG < 1 Rule of 40 > 90 You get a highly profitable company for 28x net earnings a clean balance sheet (no debt), growing with 45 % in top line and over 30 % bottom line, over 60 % operating margin and 120 % ROC
@GetBenchmarkCo i recognized you have this great company also on your list. I hope you guys are also taking a look at this under-the-radar stock @LiveChat_IR. It deserves more attention 
For further information here is a great SA article
LiveChat Software: Overlooked European SaaS Story With A Rare Combination Of Growth And Profitability https://seekingalpha.com/article/4371117-livechat-software-overlooked-european-saas-story-rare-combination-of-growth-and-profitability
LiveChat Software: Overlooked European SaaS Story With A Rare Combination Of Growth And Profitability https://seekingalpha.com/article/4371117-livechat-software-overlooked-european-saas-story-rare-combination-of-growth-and-profitability
