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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
Accolade
Accolade
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
- Adjusted EBITDA between $(49) million and $(54) million for the fiscal year ending February 28, 2022
- We have not reconciled guidance for Adjusted EBITDA to net loss, the most directly comparable GAAP measure
- We have not provided forward-looking guidance for net loss, because there are items that may impact net loss, including stock-based compensation, that are not within our control or cannot be reasonably predicted.
- Forward-looking statements are subject to risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements.