Accolade Rallies After Q1 Revenue Surges
Shares of personalized health and benefits solutions provider Accolade, Inc. (ACCD) are up more than 17% Friday morning after reporting robust revenue growth in the first quarter.
Revenue for the first quarter increased 44% year-on-year to $85.5 million from $59.5 million.
Net loss, however, widened to $342.82 million or $4.92 per share from $48.71 million or $0.84 per share a year ago, as the company had goodwill impairment charges of 299.71 million in the latest quarter.
Looking forward, the company expects second-quarter revenue to be between $82 million and $83.5 million
For the full year, Accolade has raised the lower end of the revenue outlook, now expecting between $355 million and $365 million from the previous view of $350 million-$365 million.
ACCD, currently at $8.68, has traded in the range of $4.61-$55.47 in the past 52 weeks.
Source: Read Full Article