Total revenue fell at LiveHire Ltd. (LVH:ASX) during the six months ended 31 December 2023. The Melbourne, Australia-based reported a drop in direct-sourcing revenue drove the decline in overall revenue.

Direct-sourcing revenue at LiveHire Ltd. fell 52% to AUD 400,000 (USD 272,220) in the first half of the firm’s 2024 fiscal year.

In turn, total revenue from customers fell 11% year over year to AUD 3.5 million (USD 2.4 million).

LiveHire added some information on perm and contingent hiring. “Whilst some of our clients have reported reductions in their permanent employee hiring, LiveHire’s contingent hiring success rates at our large clients in North America continue to grow,” the company wrote in a regulatory filing. “Historical trends in contingent hiring are relatively uncorrelated with permanent hiring and, importantly, the volume of requisitions for contingent hires by the company’s clients remains stable.”

Net loss after tax for the first half of the year was AUD 4.6 million (USD 3.1 million), down from AUD 7.2 million in the first half of last year.

Share price

Shares in LiveHire closed at AUD 0.0405 (USD 0.0263) on 27 February, they were 9.46% above their 52-week low.