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Aug 31, 2021
Accolade Q2 2022 Earnings Report
Reported revenue increased by 99% and Personalized Healthcare category was introduced.
Key Takeaways
Accolade announced financial results for the fiscal second quarter ended August 31, 2021, with revenue of $73.3 million, a 99% increase compared to the previous year. The company introduced the Personalized Healthcare category and launched Accolade One and Accolade Care.
Fiscal second quarter 2022 revenue of $73.3 million, a 99% increase compared to fiscal second quarter 2021 revenue of $36.8 million
Introduced Personalized Healthcare category, focused on human relationships and personalization using data to enable value-based care
Launched Accolade One and Accolade Care, two new healthcare solutions that combine Accolade’s intelligent technology, advocacy services and team-based healthcare delivery
Completed the acquisition of HealthReveal, a clinical artificial intelligence (AI) company
Forward Guidance
Accolade provides forward-looking guidance on revenue and Adjusted EBITDA, a non-GAAP financial measure. For the fiscal third quarter ending November 30, 2021, we expect: For the fiscal year ending February 28, 2022, we are revising our revenue and reaffirming our Adjusted EBITDA ranges as follows:
Positive Outlook
- Revenue between $74.5 million and $76.5 million for the fiscal third quarter ending November 30, 2021
- Approximately $2.5 million of performance guarantee revenue that is expected to be recognized in the fiscal third quarter that was previously expected to be recognized in the fiscal fourth quarter
- Revenue between $303 million and $307 million for the fiscal year ending February 28, 2022
- Beginning to see the positive impact of combining Accolade, 2nd.MD and PlushCare, with the teams operating as one across all areas, especially sales and product development.
- Plan to invest in the integration between the three offerings to maintain a superlative member and customer experience.
Challenges Ahead
- Adjusted EBITDA between $(21.5) million and $(24.5) million for the fiscal third quarter ending November 30, 2021
Historical Earnings Impact
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Avg. Return Before/After Earnings
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