Australia's Limeade gains most in almost a month on new contract

Limeade

21/11/2022 24:54

** Shares of Limeade Inc  LME.AX  rise as much as 16.7% to
A$0.158, tracking their best day since Oct. 25 - if gains hold 
    ** The software-as-a-service co says it has signed a new
enterprise contract with UPMC Health Plan, a Pittsburgh,
Pennsylvania-based insurer  urn:newsml:reuters.com:*:nFWN32E57X
    ** Co says under contract, it will receive $10.5 million
over three years, representing a contracted annual recurring
revenue of $3.5 million
    ** Adds that the platform will launch in January 2023, and
will be available to almost two mln UPMC Health Plan members
    ** Shares hit highest since Nov. 15 
    ** Stock has fallen 70.2% this year, as of last close
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))