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Nov 30, 2020
Accolade Q3 2021 Earnings Report
Revenue increased driven by new customer additions, but net loss was reported for the quarter.
Key Takeaways
Accolade reported a 30% increase in revenue for the fiscal third quarter 2021, driven by new customer additions across market segments and offerings. The company raised its revenue outlook for fiscal year 2021 to a range of $162 million to $165 million. However, the company reported a net loss of $16.6 million.
Fiscal third quarter 2021 revenue was $38.4 million, a 30% increase compared to fiscal third quarter 2020 revenue of $29.7 million.
Revenue growth was driven primarily by strength in new customer additions across market segments and offerings.
The company is raising revenue outlook for fiscal year 2021 to a range of $162 million to $165 million, representing growth of 22% to 25% over fiscal year 2020
Net loss was $(16.6) million, compared to $(18.3) million for the same period last year.
Accolade
Accolade
Forward Guidance
Accolade provides forward-looking guidance on Revenue and Adjusted EBITDA.
Positive Outlook
- Revenue between $51.0 million and $54.0 million is expected for the fiscal fourth quarter ending February 28, 2021
- Adjusted EBITDA between $(2.4) million and $(5.4) million is expected for the fiscal fourth quarter ending February 28, 2021
- Revenue between $162.0 million and $165.0 million is expected for the full fiscal year ending February 28, 2021, up from the previous range of $159.0 to $162.0 million
- Adjusted EBITDA between $(32.0) million and $(35.0) million is expected for the full fiscal year ending February 28, 2021
- Company is raising revenue outlook for fiscal year 2021
Challenges Ahead
- Adjusted EBITDA, a non-GAAP measure, between $(2.4) million and $(5.4) million is expected for the fiscal fourth quarter ending February 28, 2021.
- Adjusted EBITDA, a non-GAAP measure, between $(32.0) million and $(35.0) million is expected for the full fiscal year ending February 28, 2021.
- Company expects to incur expenses similar to the adjustments in this presentation in the future.
- Forward-looking statements are subject to risks and uncertainties and are based on potentially inaccurate assumptions.
- Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance.