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Accolade, Inc. (Nasdaq: ACCD) is a pioneering Personalized Healthcare company devoted to providing exceptional healthcare experiences to millions of people and their families, enabling them to live their healthiest lives. Accolade's range of solutions targets employers, health plans, and consumers by integrating virtual primary care, mental health services, expert medical opinions, and top-tier care navigation. Their innovative platform leverages cloud-based intelligent technology, coupled with expert clinical teams, including registered nurses, physician medical directors, pharmacists, and primary care physicians, to deliver comprehensive advocacy and healthcare services.
The company has been recognized for its significant contributions to the healthcare industry, such as being named one of Forbes' 25 most promising companies and achieving a spot on Inc. 500's list of America's fastest-growing private companies. Accolade's mission is to guide individuals through the complexities of the healthcare system, thereby enhancing outcomes and reducing costs for employers and health plans.
Accolade has recently gained considerable attention for its impressive 227% revenue growth, attributed to a relentless focus on delivering exceptional outcomes. This achievement earned Accolade a place in the Deloitte Technology Fast 500™ list for 2023. CEO Rajeev Singh credits the company's innovative approach and dedicated team for this remarkable performance.
Accolade's Trusted Partner Ecosystem, launched in 2019, exemplifies its commitment to comprehensive healthcare solutions. This ecosystem includes partnerships with leading companies like Kindbody and Noom, expanding access to specialized services such as fertility and metabolic health.
Accolade's financial health remains robust, with recent quarterly results showcasing a significant reduction in net loss and positive adjusted EBITDA, indicating a promising trajectory toward sustainable growth and profitability.
With a consumer satisfaction rating consistently over 90%, Accolade is steadily advancing its vision of transforming healthcare through predictive engagement, proactive care, and by addressing barriers to access and continuity of care. The company's forward-thinking approach ensures it remains at the forefront of healthcare innovation, making a significant impact on the industry and the lives of the people it serves.
For more information, visit accolade.com.
Accolade, Inc. reported a fiscal first quarter 2022 revenue of $59.5 million, a substantial 66% increase from $35.9 million in the same quarter of 2021. The company raised its fiscal year 2022 revenue guidance to $300 million - $305 million, reflecting a 78% increase year-over-year. However, the company also reported a net loss of $48.7 million, a 249% increase from the previous year's $14 million loss. Adjusted EBITDA was $(12.8) million, worsening by 36%. CEO Rajeev Singh highlighted strategic acquisitions and integrated care capabilities as keys to future growth.
Accolade, Inc. (NASDAQ: ACCD) announced the release of its fiscal first quarter 2022 financial results scheduled for July 8, 2021, post-market close. A conference call will be held at 4:30 p.m. E.T. to discuss these results, accessible via phone or a live audio webcast. Accolade focuses on personalized health and benefits solutions, aiming to empower individuals to achieve better health outcomes and reduce healthcare costs. The company has maintained high consumer satisfaction ratings over 90 percent.
Accolade, a leader in personalized healthcare, has acquired PlushCare for up to $450 million, enhancing its virtual primary care and mental health services. This deal, completed on June 9, 2021, includes $40 million in cash and $340 million in stock, with potential additional payments tied to revenue milestones. The acquisition is expected to broaden Accolade's market reach in a combined $200 billion addressable market, aiming for improved health outcomes while managing costs. The integration is projected to boost growth and generate new revenue opportunities.
Accolade (Nasdaq: ACCD) announced significant board changes aimed at enhancing healthcare expertise. Elizabeth Nabel, M.D., former president of Brigham and Women's Hospital, and Jeff Brodsky, vice chairman at Morgan Stanley, join the board immediately. This move comes as former board members, including Senator Bill Frist, step down. CEO Rajeev Singh will now also serve as chairman of the board, while Peter Klein becomes lead independent director. The appointments are expected to strengthen Accolade's commitment to transforming the healthcare experience for consumers.
Accolade, Inc. (NASDAQ: ACCD) announced its participation in several upcoming investor conferences. Key events include the 41st Annual William Blair Growth Stock Conference on June 2, 2021, the Goldman Sachs 42nd Annual Global Healthcare Conference on June 8, 2021, and the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021. Each session will feature a fireside chat or presentation, providing insights into the company's innovative healthcare solutions aimed at improving health outcomes and reducing costs. For more details, visit ir.accolade.com.
Accolade, Inc. (NASDAQ: ACCD) will participate in two major investor conferences. The first is the Bank of America 2021 Health Care Conference on May 12, 2021, featuring a presentation at 8:45 a.m. E.T. The second event is the 16th Annual Needham Virtual Technology & Media Conference on May 20, 2021, which will include a fireside chat at 8:00 a.m. E.T. Accolade specializes in personalized health and benefit solutions that help individuals navigate the healthcare system, achieving high consumer satisfaction ratings over 90 percent.
Accolade (NASDAQ: ACCD) reported a 33% increase in fiscal Q4 2021 revenue to $59.2 million and a 29% rise in fiscal year 2021 revenue, reaching $170.4 million. The company anticipates fiscal year 2022 revenue between $260 million and $265 million, with adjusted EBITDA projected between $(38) million and $(42) million. The acquisition of 2nd.MD and the proposed acquisition of PlushCare will expand Accolade's addressable market to over $200 billion. The company also increased its Annual Contract Value by 31% to $211 million and doubled its customer base to 112.
Accolade reported a fiscal fourth quarter 2021 revenue of $59.2 million, up 33% from $44.4 million in the same quarter of 2020. For the fiscal year 2021, revenues reached $170.4 million, a 29% increase year-over-year. The company initiated guidance for fiscal 2022 revenue between $260 million and $265 million, with an expected Adjusted EBITDA loss of $(38) million to $(42) million. Recent acquisitions of 2nd.MD and planned acquisition of PlushCare aim to expand Accolade's addressable market to over $200 billion.
Accolade, Inc. (Nasdaq: ACCD) has announced its acquisition of PlushCare, a leader in virtual primary care and mental health services. This transaction will enable Accolade to enhance its healthcare offerings, directly providing virtual consultations to its members. With a combined addressable market exceeding $200 billion, this acquisition aims to improve health outcomes and reduce costs. The deal is expected to be accretive to Accolade’s growth, leveraging its existing engagement platforms and operational efficiencies. The total transaction value is up to $450 million, with the closing anticipated in June 2021.
Accolade, Inc. (NASDAQ: ACCD) is set to release its fiscal fourth quarter and full year 2021 financial results on May 5, 2021, after market close. A conference call will follow at 4:30 p.m. E.T. for detailed insights into the performance. Accolade offers tailored, technology-driven health solutions, aiming to navigate and optimize healthcare and workplace benefits for users, achieving over 90% consumer satisfaction ratings. Investors can access the call via phone or online, with a replay available for 90 days post-event.
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