Is being a LP (Liquidity Provider) actually profitable?

I am very curious as I've heard that over 50% of LPs lose their capital and it's actually better to just HODL in this regard. I'm more interested in V3 pools as this is the most current version.

What is your experience and are / were you profitable at providing liquidity?

Also how do you do it? Do you go straight to Uniswap or do you use some other platform?

Are there any reports / data on how successful or unsuccessful it is? I can't seem to find much in regards to data the market overall. Nobody seems to be really talking about it or have any hard data.