Accolade Shares Trade Higher After 117% Jump In Q3 Sales

Accolade Inc ACCD reported Q3 FY22 sales of $83.5 million, up 117% Y/Y, beating the consensus of $75.89 million.

• The adjusted EBITDA loss widened to $(11.9) million, and the adjusted gross margin improved from 41.8% to 47%.
• "In January 2021, we were serving about 100 customers and 2 million members. Today, with the integration of primary care, mental health and expert medical opinion from our acquisitions of PlushCare and 2nd.MD, we now serve more than 600 customers and 10 million members, having added more than 200 customers since combining our companies," said CEO Rajeev Singh.
• Guidance: For Q4 FY22, Accolade expects revenue of $90 million - $93 million, compared to a consensus of $97.71 million.
• The company sees Q4 adjusted EBITDA loss of $(4) million - $(8) million.
• For FY22, Accolade forecasts sales of $306 million - $309 million (previously $303 million - $307 million), versus the consensus of $306.34 million. 
• It expects adjusted EBITDA loss of $(48) million - $(52) million (previously $(49) million - $(54) million).
• For FY23, the company introduced preliminary revenue growth of 25% Y/Y and adjusted EBITDA in a range of (11% to 12%) of revenue.
• Price Action: ACCD shares are up 10.8% at $21.20 during the premarket session on the last check Tuesday.