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Feb 28, 2021
Accolade Q4 2021 Earnings Report
Accolade's Q4 2021 financial results were announced, revealing a revenue increase and strategic acquisitions aimed at expanding market reach.
Key Takeaways
Accolade reported a 33% increase in fiscal fourth quarter revenue, reaching $59.2 million compared to $44.4 million in the same period last year. The company's fiscal year 2021 revenue grew by 29% to $170.4 million. Accolade is expanding its market presence through the acquisition of 2nd.MD and the proposed acquisition of PlushCare.
Fiscal fourth quarter revenue increased by 33% year-over-year to $59.2 million.
Fiscal year revenue grew by 29% year-over-year to $170.4 million.
Guidance for fiscal year 2022 projects revenue between $260 million and $265 million.
The acquisitions of 2nd.MD and PlushCare are expected to increase the addressable market to over $200 billion.
Accolade
Accolade
Forward Guidance
Accolade provided forward-looking guidance for revenue and Adjusted EBITDA for the fiscal first quarter ending May 31, 2021, and the fiscal year ending February 28, 2022.
Positive Outlook
- Revenue between $54 million and $56 million is expected for the fiscal first quarter ending May 31, 2021.
- Adjusted EBITDA between $(16) million and $(19) million is expected for the fiscal first quarter ending May 31, 2021.
- Revenue between $260 million and $265 million is expected for the fiscal year ending February 28, 2022.
- Adjusted EBITDA between $(38) million and $(42) million is expected for the fiscal year ending February 28, 2022.
- Fiscal year 2022 guidance shows continued momentum in Accolade’s navigation and advocacy business and the accretive impact of 2nd.MD’s growth rate.