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Aug 31, 2020
Accolade Q2 2021 Earnings Report
Revenue increased driven by new customer adds, net loss reported.
Key Takeaways
Accolade reported a 24% increase in revenue for the fiscal second quarter 2021, driven by strength in new customer additions across segments and offerings. The company's net loss was $(15.4) million compared to $(15.0) million for the same period last year.
Fiscal second quarter 2021 revenue of $36.8 million, a 24% increase compared to fiscal second quarter 2020 revenue of $29.7 million.
Revenue growth was driven primarily by strength in new customer adds across segments and offerings
Continued bookings momentum driving strength in new customer adds across segments and offerings
Company raised its outlook for the full year.
Accolade
Accolade
Forward Guidance
Accolade provides forward-looking guidance on Revenue and Adjusted EBITDA.
Positive Outlook
- Revenue between $36.0 million and $37.0 million for the fiscal third quarter ending November 30, 2020
- Revenue between $159.0 million and $162.0 million for the full fiscal year ending February 28, 2021, up from our initial range of $158.0 to $161.0 million
Challenges Ahead
- Adjusted EBITDA between $(12.0) million and $(14.0) million for the fiscal third quarter ending November 30, 2020
- Adjusted EBITDA between $(32.0) million and $(36.0) million for the full fiscal year ending February 28, 2021, unchanged from our initial guidance.