From GlobeNewswire:

Accolade, Inc. (NASDAQ: ACCD) announced financial results for the fiscal third quarter ended November 30, 2023. The company’s revenue was $99.4 million, a 9% increase from the same period in 2022. Additionally, Accolade reported a net loss of $21.1 million, which is a 47% decrease from the previous year’s loss. Adjusted EBITDA improved to $(4.6) million, a 55% increase from the prior year.

The company also provided financial outlook for the fiscal fourth quarter and fiscal year ending February 29, 2024. For the fiscal fourth quarter, the expected revenue is between $121.5 million and $125.5 million, while the adjusted EBITDA is anticipated to be between $16 million and $20 million. For the fiscal year, predicted revenue ranges from $411 million to $415 million, and the anticipated adjusted EBITDA is between $(6) million and $(10) million. In fiscal year 2025, Accolade is affirming preliminary revenue growth of approximately 20% and expecting adjusted EBITDA between 2% and 4%.

Accolade’s CEO, Rajeev Singh, stated that the company’s unique blend of people and technology is revolutionizing healthcare in the country, exemplified in their growing customer base and increasing revenues. The company has a positive outlook for the future, expecting a 20% revenue growth and adjusted EBITDA between 2% – 4% in fiscal year 2025. The fourth quarter financial results are expected to be discussed in a conference call on January 8, 2024.

In addition to their financial results, Accolade also provided information from their Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, and Condensed Consolidated Statements of Cash Flows. These financial tables detail the company’s financial position and performance over the past two years. Accolade’s efforts to consistently improve health outcomes reflects in its growing customer base and strengthening financial performance.



Read more: Accolade Announces Results for Fiscal Third Quarter 2024