공시 • Aug 10
Limeade, Inc. Files Form 15 Limeade, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. New Risk • Jun 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$8.5m). Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (AU$104.3m market cap, or US$69.1m). Reported Earnings • Mar 03
Full year 2022 earnings released: US$0.052 loss per share (vs US$0.04 loss in FY 2021) Full year 2022 results: US$0.052 loss per share (further deteriorated from US$0.04 loss in FY 2021). Revenue: US$56.0m (up 1.5% from FY 2021). Net loss: US$13.2m (loss widened 33% from FY 2021). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. 공시 • Jan 12
Limeade, Inc. Announces Resignation of Todd Spartz as Chief Financial Officer, Effective 18 January 2023 Limeade, Inc. announced that Mr. Todd Spartz will resign as Chief Financial Officer (CFO) of the Company, departing 18 January 2023 to pursue another opportunity in the corporate sector. The company thanks him for his service. The Company has launched an internal and external search and in the interim, CFO duties will be performed by the existing Limeade Finance team under the leadership of Controller Paul Crick with assistance from outside vendors as appropriate and necessary. Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The 2 analysts covering Limeade expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$2.53m in 2025. Average annual earnings growth of 71% is required to achieve expected profit on schedule. Reported Earnings • Nov 17
Third quarter 2022 earnings released: US$0.005 loss per share (vs US$0.013 loss in 3Q 2021) Third quarter 2022 results: US$0.005 loss per share (improved from US$0.013 loss in 3Q 2021). Revenue: US$14.5m (up 2.0% from 3Q 2021). Net loss: US$1.37m (loss narrowed 60% from 3Q 2021). Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in Australia. Board Change • Nov 17
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Lisa Nelson was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 17
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Lisa Nelson was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
Second quarter 2022 earnings released: US$0.018 loss per share (vs US$0.001 loss in 2Q 2021) Second quarter 2022 results: US$0.018 loss per share (down from US$0.001 loss in 2Q 2021). Revenue: US$14.0m (up 1.5% from 2Q 2021). Net loss: US$4.58m (loss widened US$4.27m from 2Q 2021). Over the next year, revenue is forecast to grow 8.3%, compared to a 50% growth forecast for the Software industry in Australia. Breakeven Date Change • Aug 18
Forecast to breakeven in 2024 The 2 analysts covering Limeade expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 32% per year to 2023. The company is expected to make a profit of US$94.3k in 2024. Average annual earnings growth of 69% is required to achieve expected profit on schedule. Board Change • Aug 18
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Lisa Nelson was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Jul 30
Forecast to breakeven in 2024 The 2 analysts covering Limeade expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 32% per year to 2023. The company is expected to make a profit of US$305.0k in 2024. Average annual earnings growth of 58% is required to achieve expected profit on schedule. Board Change • Jul 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Non-Executive Director Deven Billimoria was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 15
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Non-Executive Director Deven Billimoria was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Non-Executive Director Deven Billimoria was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: US$0.04 loss per share (down from US$0.001 loss in FY 2020). Revenue: US$55.2m (down 2.5% from FY 2020). Net loss: US$9.97m (loss widened US$9.70m from FY 2020). Revenue exceeded analyst estimates by 6.4%. Over the next year, revenue is expected to shrink by 2.6% compared to a 31% growth forecast for the industry in Australia. Board Change • Feb 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Non-Executive Director Deven Billimoria was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 25
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Non-Executive Director Deven Billimoria was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 11
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Non-Executive Director Deven Billimoria was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 16
Non-Executive Director recently bought AU$122k worth of stock On the 14th of September, Deven Billimoria bought around 156k shares on-market at roughly AU$0.79 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Aug 30
First half 2021 earnings released: US$0.013 loss per share (vs US$0.005 loss in 1H 2020) The company reported a poor first half result with increased losses, weaker revenues and weaker control over costs. First half 2021 results: Revenue: US$26.9m (down 4.2% from 1H 2020). Net loss: US$3.18m (loss widened 138% from 1H 2020). Executive Departure • Jun 18
Non Executive Director Cameron J. Judson has left the company On the 18th of June, Cameron J. Judson's tenure as Non Executive Director ended after 1.5 years in the role. As of March 2021, Cameron J. still personally held only 50.00k shares (AU$42k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.25 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Mar 17
CFO & Company Secretary has left the company On the 12th of March, Toby Davis' tenure as CFO & Company Secretary ended after 4.2 years in the role. We don't have any record of a personal shareholding under Toby's name. Toby is the only executive to leave the company over the last 12 months. Reported Earnings • Feb 27
Full year 2020 earnings released: US$0.001 loss per share (vs US$0.44 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$56.6m (up 19% from FY 2019). Net loss: US$265.0k (loss narrowed 99% from FY 2019). Analyst Estimate Surprise Post Earnings • Feb 27
Revenue beats expectations Revenue exceeded analyst estimates by 0.9%. Over the next year, revenue is forecast to grow 1.8%, compared to a 25% growth forecast for the Software industry in Australia.