December 7, 2022

Distinction: overview of results for the fourth quarter of the fiscal year

SEATTLE (AP) _ Accolade, Inc. (ACCD) reported a $34.6 million loss in its fourth fiscal quarter on Thursday.

On a per-share basis, the Seattle-based company said it incurred a loss of 51 cents. Losses, adjusted for one-time gains and costs, were 27 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts polled by Zacks Investment Research was for a loss of 23 cents per share.

The company posted revenue of $93.8 million during the period, beating Street’s forecast. Six analysts polled by Zacks expected $92.1 million.

For the year, the company said its loss widened to $123.1 million, or $1.93 per share. Revenue was reported at $310 million.

For the current quarter ending June, Accolade said it expects revenue of between $81 million and $83 million.

The company expects annual revenue of between $350 million and $365 million.

Accolade shares have fallen 58% since the start of the year. In the final minutes of trading Thursday, shares hit $11.06, a 78% drop in the past 12 months.


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