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Nov 30, 2022
Accolade Q3 2023 Earnings Report
Accolade's Q3 2023 financial results were announced, revealing a 9% increase in revenue compared to the same quarter last year and a net loss.
Key Takeaways
Accolade reported a 9% increase in revenue for the fiscal third quarter 2023, reaching $90.9 million compared to $83.5 million in the fiscal third quarter 2022. The company's net loss was $(39.9) million, compared to a net income of $22.5 million last year.
Fiscal third quarter 2023 revenue reached $90.9 million, a 9% increase year-over-year.
The company's strength is driven by the increasing diversity in its platform across solutions, customer types, distribution channels, and industry sectors.
Accolade is leading the conversation with customers because of its proven track record of delivering measurable improvements in health and cost outcomes.
Preliminary fiscal year 2024 guidance reaffirms both revenue growth and Adjusted EBITDA targets.
Forward Guidance
Accolade provides forward-looking guidance on revenue and Adjusted EBITDA, a non-GAAP financial measure. For the fiscal fourth quarter ending February 28, 2023, we expect: Revenue between $97 million and $101 million, Adjusted EBITDA between $(1) million and $3 million. For the fiscal year ending February 28, 2023, we expect: Revenue between $361 million and $365 million, Adjusted EBITDA between $(36) million and $(40) million. For the fiscal year ending February 29, 2024, we are introducing preliminary revenue and Adjusted EBITDA guidance as follows: Revenue of approximately $410 million, Adjusted EBITDA between (5)% to (7)% of revenue.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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