LiveHire Ltd. (LVH:ASX) reported direct-sourcing revenue surged 700% to AUD 578,997 (USD 433,611) in its fiscal first quarter ended Sept. 30 from AUD 72,344 (USD 54,178) in the year-ago quarter.

However, first-quarter revenue of of was down from fourth-quarter revenue of AUD 686,785 (USD 514.333); the company cited the rolling off of Covid-related client hires for Alberta Health in Canada.

The Melbourne, Australia-based company gained four new direct-sourcing clients in the quarter, bringing total clients to 18 and generating expected annual contract value of AUD 5.4 million (USD 4.0 million). It expects the number of clients to grow to 36 by the end of the fiscal year.

LiveHire also announced it hired Martin Matula as senior VP, product and client implementations. Matula has previously served as senior product manager at Aya Healthcare Inc., a US healthcare staffing firm, and prior to that as VP of product development at Opptly. Other previous roles include positions at Beeline and Adecco’s Innovation Lab.

LiveHire also hired Chuck Young as VP, solution architect. Young’s previous experience includes serving at Beeline as partnership manager, talent providers.

Share price and market cap

Shares in LiveHire closed down 15.38% to AUD 33 cents on Wednesday; they were 34.69% above their 52-week low, according to FT.com. The company had a market cap of AUD 115.0 million (USD 86 million).