Revenue And Profitability:
Accolade, Inc. (NASDAQ: ACCD) reported financial results for the fiscal second quarter, which ended on August 31, 2024.
Revenue reached $106.4 million, reflecting a 10% increase compared to $96.9 million in the same quarter last year.
Net loss improved by 27%, reducing from $32.8 million in Q2 2023 to $23.9 million in Q2 2024.
Non-GAAP Financial Metrics:
Adjusted EBITDA saw significant improvement, with a loss of $2.8 million compared to a loss of $8.8 million the previous year, reflecting a 68% improvement.
Adjusted Gross Profit grew by 17% to $50.3 million, with an Adjusted Gross Margin of 47.3%, up from 44.2% in the previous year.
Outlook:
For Q3 2025, Accolade expects revenue between $104 million and $107 million, with an Adjusted EBITDA loss of $3 million to $5 million.
For fiscal year 2025, projected revenue is between $460 million and $475 million, with an Adjusted EBITDA between $15 million and $20 million.
CEO and CFO Statements:
CEO Rajeev Singh highlighted the company’s progress toward achieving its first full year of Adjusted EBITDA profitability and positive cash flow.
CFO Steve Barnes emphasized Accolade’s success in managing its cost structure and improving its net cash position by over $20 million.
Accolade, Inc. (NASDAQ: ACCD) reported financial results for the fiscal second quarter, which ended on August 31, 2024.
Revenue reached $106.4 million, reflecting a 10% increase compared to $96.9 million in the same quarter last year.
Net loss improved by 27%, reducing from $32.8 million in Q2 2023 to $23.9 million in Q2 2024.
Non-GAAP Financial Metrics:
Adjusted EBITDA saw significant improvement, with a loss of $2.8 million compared to a loss of $8.8 million the previous year, reflecting a 68% improvement.
Adjusted Gross Profit grew by 17% to $50.3 million, with an Adjusted Gross Margin of 47.3%, up from 44.2% in the previous year.
Outlook:
For Q3 2025, Accolade expects revenue between $104 million and $107 million, with an Adjusted EBITDA loss of $3 million to $5 million.
For fiscal year 2025, projected revenue is between $460 million and $475 million, with an Adjusted EBITDA between $15 million and $20 million.
CEO and CFO Statements:
CEO Rajeev Singh highlighted the company’s progress toward achieving its first full year of Adjusted EBITDA profitability and positive cash flow.
CFO Steve Barnes emphasized Accolade’s success in managing its cost structure and improving its net cash position by over $20 million.