Companies are increasingly looking to lift employee wellbeing.
The post Limeade (ASX:LME) share price leaps higher on quarterly update appeared first on The Motley Fool Australia. –
The Limeade Inc (ASX: LME) share price has seen some action in the green today. Shares are up around 2% in late afternoon trading after earlier posting gains of more than 15%.
This on a day where the All Ordinaries Index (ASX: XAO) is struggling to hold onto its 0.2% gains.
Below, we take a look at the employee wellbeing company’s quarterly update for the period ending 30 September. For Limeade’s accounting, that’s Q3 FY21.
What was reported for the quarter?
The Limeade share price soared higher after the company reported it maintained its financial guidance for the full 2021 financial year (FY21).
That guidance was for revenue of $50-53 million, an earnings before interest, taxes, depreciation and amortisation (EBITDA) loss of $5-8 million, and a net loss after tax of $7-10 million.
Third quarter operating cash outflows were reported to be $4.1 million. Limeade says this reflects the timing effect of “a large upfront enterprise subscription” which it expected in Q3 but received in early October, at the commencement of Q4.
For the coming quarter, Limeade said it has “strong contract signings” and it expects growth in in its contracted annual recurring revenue (CARR) in H2 FY21 figures.
Looking ahead, the Limeade share price may also have gotten a lift after the company said it intends to launch a mid-market wellbeing offering in the current quarter.
Commenting on the results, Limeade’s CEO Henry Albrecht said:
During the quarter we focused on serving our core enterprise wellbeing customers, integrating the TINYpulse acquisition and readying for the launch of an immersive wellbeing entry into the mid-market.
Whether a company has 2,000 or 200,000 employees, they seek to listen better and do more for their people to maximize business performance. We were very pleased at the acceleration of our late-stage enterprise sales pipeline to finalist and verbal stages as well, providing Limeade with a solid platform for growth in 2022.
The company ended the quarter with a cash position of $15.1 million and no drawn debt.
Limeade share price snapshot
The Limeade share price has struggled this year, down almost 65% in 2021. By comparison, the All Ords has gained 11% year-to-date.
Over the past month, Limeade shares are down 24%.
The post Limeade (ASX:LME) share price leaps higher on quarterly update appeared first on The Motley Fool Australia.
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Limeade, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.