The following is a summary of the Accolade, Inc. (ACCD) Q4 2024 Earnings Call Transcript:
Financial Performance:
Accolade Inc. reported Q4 revenue of $125 million, a 30% pro forma growth over the same period of the previous fiscal year.
The company's full-year revenue for the fiscal year 2024 was $414.3 million with a reported adjusted EBITDA loss of $7.5 million.
The company's adjusted EBITDA improved by approximately $30 million year-over-year, exceeding their expectations.
Accolade predicts a top-line growth of around 20% and anticipates profitable adjusted EBITDA for the full fiscal year 2025.
An ARR of $86 million was reported, with the expectation to convert approximately 80-85% to the ACV figure for the following year.
Business Progress:
Accolade experienced significant growth in its customer base, serving over 14 million lives across more than 1,200 customers.
The company's platform-connected revenues, including its own offerings and partner-delivered services, grew exceptionally.
Strategic partnerships with Blue Shield California and Blue Cross Blue Shield of Arkansas were highlighted as potential growth drivers.
The successful integration of PlushCare's teams, services, and capabilities has fostered growth in the consumer business and delivered exceptional care to Accolade's employer clients.
Accolade aims to boost its Per Employee Per Month (PEPM) on the navigation business by around 50% or more.
The majority of Accolade's customers deployed both the navigation platform and the Accolade care; 96% deployed the navigation platform and expert medical opinion.
The company maintains a growth-focused approach while aiming for financial stability in the face of evolving economic conditions.
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