Limeade (ASX:LME) - CEO, Henry Albrecht
CEO, Henry Albrecht
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  • Employee well-being company Limeade (LME) maintains its FY21 financial guidance of about $50 million in revenue and a net loss after tax between $7 million and $10 million in its quarterly report
  • Cash receipts were up 55 per cent from the previous corresponding period to $22 million
  • Operating cash outflows of $200,000 were recorded, which is a 96 per cent decrease to the prior quarter
  • The company remains debt free with a cash balance of $13.9 million at the end of last year
  • Shares closed 4.26 per cent lower today at 45 cents each

Limeade (LME) has maintained its FY21 revenue guidance of $50 million to $53 million, but posted a net loss after tax of between $7 million and $10 million in its December quarter report.

Cash receipts for the quarter were up 55 per cent from the previous corresponding period to $22 million. The company attributes this to TINYpulse, which it acquired earlier last year.

Operating cash outflows of $200,000 were recorded, which is a 96 per cent decrease to the prior quarter, while investing cash flows for the quarter were $850,000.

The company remains debt free with a cash balance of $13.9 million at the end of last year.

The company’s sales pipeline at the end of the quarter was $47 million, a decrease from the $60.3 million recorded in the previous corresponding period.

During the quarter, the company signed six new contracts for $3.6 million in contracted annual recurring revenue (CARR).

CARR was up three per cent from the previous year to $56.8 million at the end FY21. The primary drivers of this were the acquisition of TINYpulse, large enterprise Limeade Well-Being sales, the non-renewal or loss of several key customer contracts, a misaligned indirect Limeade Well-Being mid-market channel and a new contract win rate reflective of the challenging economic climate.

CEO Henry Albrecht said he believes the company is well positioned going into the future.

“We are pleased with the conversion of our late-stage pipeline in Q4 2021 to new customer contracts,” he said.

“Coupled with the continued outperformance of Limeade Advanced Listening (TINYpulse) relative to our internal expectations at the time of the acquisition, Limeade is well positioned to continue its momentum as we commence the 2022 financial year.”

Shares closed 4.26 per cent lower today at 45 cents each.

LME by the numbers
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