Limeade reports a 33% increase in net loss in FY2022

On 1 March 2023, Limeade (ASX: LME) announced its FY22 results, which were in line with the company's guidance. The highlights for the fiscal year include:

• Revenue of US$56.0 million, which is a 1% increase from the prior corresponding period (pcp).
• An adjusted EBITDA loss of US$7.7 million, which is 40% greater than the pcp.
• A net loss after tax of US$13.2 million, which is 33% greater than the pcp.
• The FY22 CARR was US$59.5 million, up by 5% from the pcp.
• The company focused on achieving operational excellence to ensure profitability and positive operating cash flow.
• The cash position of the company was US$2.6 million as of 31 December 2022, with US$2.5 million drawn and US$3.5 million available on the company's credit facility.

In FY2023, the Company expects:

• Revenue in between US$57 to US$59 million.
• Adjusted EBITDA in the range of US$0.5 to US$2.5 million.
• Net loss after tax to range from US$5 million to US$7 million.

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