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Feb 29, 2024
Accolade Q4 2024 Earnings Report
Accolade's Q4 2024 financial results were announced, showcasing revenue growth and margin expansion.
Key Takeaways
Accolade reported revenue of $124.8 million and a net loss of $7.5 million for the fiscal fourth quarter ended February 29, 2024. Adjusted EBITDA was $18.5 million. The company is focused on delivering full year profitability on an Adjusted EBITDA basis.
Accolade's revenue reached $124.8 million, a 26% increase compared to the previous year.
The company's net loss improved by 75% to $(7.5) million.
GAAP gross profit increased by 45% to $58.1 million.
Adjusted EBITDA saw a significant increase of 553% to $18.5 million.
Accolade
Accolade
Forward Guidance
Accolade provides forward-looking guidance on revenue and Adjusted EBITDA. For the fiscal first quarter ending May 31, 2024, the company expects revenue between $103 million and $106 million and Adjusted EBITDA between $(9) million and $(12) million. For the fiscal year ending February 28, 2025, Accolade expects revenue between $480 million and $500 million and Adjusted EBITDA between 3% and 4% of revenue.
Positive Outlook
- Revenue between $103 million and $106 million is expected for the fiscal first quarter ending May 31, 2024.
- For the fiscal year ending February 28, 2025, revenue is projected to be between $480 million and $500 million.
- Adjusted EBITDA is expected to be between $(9) million and $(12) million for the fiscal first quarter ending May 31, 2024.
- Adjusted EBITDA is anticipated to be between 3% and 4% of revenue for the fiscal year ending February 28, 2025.