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Aug 31, 2022
Accolade Q2 2023 Earnings Report
Accolade outperformed expectations due to business strength and diversification, and ability to deliver results against performance guarantees. The company also benefited from continued momentum in PlushCare’s direct to consumer virtual primary care business.
Key Takeaways
Accolade reported a 20% increase in revenue for the fiscal second quarter 2023, reaching $87.6 million compared to $73.3 million in the fiscal second quarter 2022. The company experienced strong win rates across various industries and offerings, highlighting the increasing importance of offering a full range of solutions to both enterprise customers and health plan partners.
Accolade executed across all key initiatives in the second quarter, marked by financial outperformance and a strong start to the traditional selling season.
The company experienced strong win rates across industries and offerings.
Accolade's integrated services are receiving strong validation from new and current customers.
Accolade is raising the midpoint of revenue guidance for fiscal year 2023 and reaffirming commitment to consistently improve Adjusted EBITDA loss, with an expectation for positive cash flow and Adjusted EBITDA in fiscal year 2025.
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, 2022, we expect: Revenue between $86 million and $88 million and Adjusted EBITDA between $(11) million and $(13) million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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