LME: Potential non-renewal in fiscal 2024 of top-5 customer

LIMEADE INC.

• Limeade, an employee well-being company, announces that the State of Washington Health Care Authority (HCA) has identified another organization as the "Apparent Successful Bidder" for its "Wellness Portal" services starting from 1 January 2024.
• No official notice of non-renewal has been given to Limeade, and the current contract with the HCA runs until 31 December 2023, with an option to extend through 2024.
• The Contracted Annual Recurring Revenue (CARR) for the 2024 fiscal year was expected to be US2.9 million, and Limeade reaffirms its 2023 guidance for Revenue, Adjusted EBITDA, and NPAT provided on 1 March 2023.

2023-04-17 09:44:00

LME: Limeade Announces Restructure for 2023 and CFO Resignation

LIMEADE INC.

1. Limeade will lower its headcount overall by 15% and restructure its R&D, Product, Customer Operations, Customer Success, Marketing and Sales teams.
2. The one-time costs associated with the reduction in force include severance payments and employee benefits and will involve future cash expenditures.
3. The company also announced the resignation of its CFO Todd Spartz.

2023-01-12 08:53:00